HELLS OPEN DOORS!
The 7.5 years of a Zionist JEW driven and NAZI CHRISTIAN induced ECONOMY is more than the propagandized watered down sub prime little problem. Could it be........ THE RECORD trade deficit? THE RECORD budget deficit? THE RECORD national debt? RECORD HIGH foreclosure, RECORD drop in home equity, RECORD HIGH borrowing to pay for wars, crumbling infrastructue, RECORD GAS PRICES, STOCK MARKET CRUMBLING as Congress and the DECIDER sit and do nothing but watch, RECORD OIL PRICE, rising unemployment kind of a BIG DISASTER LOOMING IN THE JEW SHADOW GOVERNMENT? SOUNDS LIKE HYPER INFLATION is well on the way and a DEPRESSION not far behind!!!! RECORD RED INK LIKE A LEAD MONKEYS BEHIND sounds like a bunch of BROKEN RECORDS and an ECONOMY in CCU / ICU awaiting the REAPERS CALLING CARD !
2008
FIND MORE STORIES IN: United States House of Representatives | Baby Boomer | Tax USA TODAY used federal data to compute all government liabilities, from Treasury bonds to Medicare to military pensions.Bottom line: The government took on $6.8 trillion in new obligationsin 2008, pushing the total owed to
a record $63.8 trillion.The numbers measure what's needed today set aside in a lump sum, earning interest to pay benefits that won't be covered by future taxes. Congress can reduce or increase the burden by changing laws that determine taxes and benefits for programs such as Medicare and Social Security.
Rep. Jim Cooper, D-Tenn., says exploding debt has focused attention on the government's financial challenges. "More and more, people are worried about our fiscal future," he says.
Key federal obligations:
SCREW AMERICA AND AMERICANS FIRST THE NAZI REPUBLIC ZIONIST CHRISTIAN POLICY!
ALAN GREENSPAN: Well, look, the whole issue of what has happened in this country with respect to the increasing inequality of income is an issue I address and abhor in the book, and I point out that what is causing it to a very significant extent is the fact that skilled labor is under extraordinary demand as the technologies increase, and weve had a dysfunctional education system in this country, both in primary and secondary schools, which is showing up in all of the studies, which indicate that while our children in the fourth grade are doing fairly well relative to international comparisons, by the end of high school, they are in terrible shape. And as a consequence of that, we are not putting the proper number of people into the education cycle to get them up to skill levels, which creates much less, or would create a good deal less, in the way of income inequality.
And I also argue in the book that we ought to be opening up our borders to skilled labor from all sorts of -- from all parts of the world, because if we were to do that, we would increase the supply of skilled workers, which our schools have been unable to create, and as a consequence of that, we would lower the average wage of skills and reduce the degree of income inequality in this country. It's a very important issue, and it's a very important issue which I raise in my book. And we have to confront this both at the education level and on the immigration level.
President Bush signed the NAFTA agreement on December 17, 1992 at a meeting of the ... dozens of House Republicans--led by OLD Newt THE FRUIT
1999 started the Ball Rolling down hill:
Phil Gramm a person this one detested more than Dick Cheney and that's a Hugh statement after watching Dart Cheney in action. Then there was Tom Blaily who was a corporate owned and operated Zionist Nazi of the First Order and Pathological liar to booth! The Zionist of the group of three Nazi (R) Jim Leach what an appropriate family name LEACH a parasite a blood sucker within society but the so called Reagan Democrats were right there pulling the levers and pushing the myth of welfare Queens living the great life in the slums throughout America! Pork Barrel you know the Jew spiel...... Cut it to the bone with one exception ........Israel. Today make no mistake this borrowing us into a debt that reaches past the planet Mars and back is for one reason only, BANKRUPTING SOCIAL SECURITY! This has been the plan since Reagan and today we are at the edge of the abyss prepared to follow these Nazi's down into the burning Inferno! Hell, their diversion tactics worked placing the Queens and Kings in the lime light as they did their dastardly deeds insuring a collapse one again here in America. Take a few seconds and look at:
Established in 1933 and repealed in 1999, the Glass-Steagall Act
The Glass-Steagall Act established the Federal Deposit Insurance Corporation ... criticized the repeal of the Glass-Steagall Act as contributing to the 2007 ...
The Gramm-Leach-Bliley Act "History of the GLBA", Electronic Privacy Information Center ... "To amend the Gramm-Leach-Bliley Act to provide for enhanced ...
en.wikipedia.org/wiki/Gramm-Leach- </wbr></wbr></wbr>Bliley_Act - 45k - Cached
... of State Actions on Gramm Leach Bliley Act's Privacy Provisions, GAO Report 02-361, April 2002. ... is the Gramm-Leach-Bliley Financial Services ...
Financial Services Modernization Act. Gramm-Leach-Bliley. Summary of Provisions ... new "financial holding company" under section 4 of the Bank Holding Company Act. ...
Gramm-Leach-Bliley Act --The banking industry had been seeking the repeal of Glass-Steagall since at least the 1980's. (Wikipedia) 08 Sep 2008 The Gramm-Leach-Bliley Act... is an Act of the United States Congress which repealed the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services. The Gramm-Leach-Bliley Act (GLBA) allowed commercial and investment banks to consolidate. The bills comprising the act were introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA). The bills were passed along party lines with Republican support in the Senate and with bipartisan support in the House of Representatives... Economist Robert Kuttner has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis. Economists Robert Ekelund and Mark Thornton have made similar criticisms, arguing that while "in a world regulated by a gold standard, 100% reserve banking, and no FDIC deposit insurance" the Financial Services Modernization Act would have made "perfect sense" as a legitimate act of deregulation, under the present fiat monetary system it "amounts to corporate welfare for financial institutions and a moral hazard that will make taxpayers pay dearly".
1929 Crash:
Intro:
On September 4, 1929 the stock market hit an all time high as a result of the American industrial revolution right after the Labor Day weekend. At that time banks were invested heavily in stocks and individual investors borrowed heavily on margin to buy stocks. By October 24, 1929 the stock market was down 20%. On October 28, 1929 the stock market was down another 13.5%. On the historical day of October 29, 1929 the stock market dropped 11.5% to bring the Dow down a total of 39.6% from its high. The market had lost 14 billion dollars of wealth. A quote from the Wall Street Journal said "STOCKS STEADY AFTER DECLINE Bankers State Support Continues- Spokesman Expresses View Hysteria is Passing. " Wall Street Journal, 10/30/29 (The trading floor of the New York Stock
Exchange just after the crash of 1929)
Intro:
On September 4, 1929 the stock market hit an all time high as a result of the American industrial revolution right after the Labor Day weekend. At that time banks were invested heavily in stocks and individual investors borrowed heavily on margin to buy stocks. By October 24, 1929 the stock market was down 20%. On October 28, 1929 the stock market was down another 13.5%. On the historical day of October 29, 1929 the stock market dropped 11.5% to bring the Dow down a total of 39.6% from its high. The market had lost 14 billion dollars of wealth. A quote from the Wall Street Journal said "STOCKS STEADY AFTER DECLINE Bankers State Support Continues- Spokesman Expresses View Hysteria is Passing. " Wall Street Journal, 10/30/29 (The trading floor of the New York Stock
Exchange just after the crash of 1929)
Causes of the Crash:1. Stock were overvaluedSome people thought that according to P/E ratios and price to dividend ratios that stocks were overbought. In 1929, stocks were trading at an average P/E of 60.
2. Margin BuyingAt that time, you could put 10% down to buy stock. Thus if you wanted $10,000 in stock of GE, you would also need $1,000. Then you could make monthly payments to pay for the rest. Margin buying accounted for 5% of the total market value of the stock market in 1929. This was not enough to drag the entire market down.
3. Fed Policy
Adolph Miller was the new president of the Federal Reserve Board and he set out to tighten monetary policy. He aggressively raised interest rates on broker loans.
Adolph Miller was the new president of the Federal Reserve Board and he set out to tighten monetary policy. He aggressively raised interest rates on broker loans.
4. Bad Banking Structure
In the 1920's, banks were opening up at the rate of 4 to 5 per day. There were few federal restrictions to determine start up capital needed to start up a new bank or how much of its reserve it could lend. As a result, most of these banks were highly insolvent. Banks were closing at the rate of 2 a day between 1923 and 1929. Then as banks moved to invest heavily in the stock market, this proved to be a disaster when the market crashed. By 1932, 40% of all banks were wiped out.
In the 1920's, banks were opening up at the rate of 4 to 5 per day. There were few federal restrictions to determine start up capital needed to start up a new bank or how much of its reserve it could lend. As a result, most of these banks were highly insolvent. Banks were closing at the rate of 2 a day between 1923 and 1929. Then as banks moved to invest heavily in the stock market, this proved to be a disaster when the market crashed. By 1932, 40% of all banks were wiped out.
Reforms After the Crash:1. The Securities and Exchange Commission (SEC) was established to lay down the law and punish the violators.
2. The Glass-Stegall Act was passed which banned any connection between commercial banks and investment banking. Over the past decade though, the fed and banking regulators have softened some of the Glass-Stegall Act.
3. FDIC was established to insure individual bank accounts for up to $100,000.
Aftermath:
After October 29, 1929 the market began to slowly mount a comeback. By next summer of 1930 the market was up 30% from the low of October 29, 1929. But no one would realize the nightmare that would follow. By July of 1932 the stock market would hit a low that made the 1929 crash look like hiccup. By the summer of 1932 the Dow had lost almost 89% of its value which was well more than 50% lower than the low of October 29, 1929. This drop erased almost every gain from stock market since its birth in 1897. It would take the stock market about 30 years to make it back to the 1929 highs though most investors would have recovered their losses in the 30's through dividend returns.
After October 29, 1929 the market began to slowly mount a comeback. By next summer of 1930 the market was up 30% from the low of October 29, 1929. But no one would realize the nightmare that would follow. By July of 1932 the stock market would hit a low that made the 1929 crash look like hiccup. By the summer of 1932 the Dow had lost almost 89% of its value which was well more than 50% lower than the low of October 29, 1929. This drop erased almost every gain from stock market since its birth in 1897. It would take the stock market about 30 years to make it back to the 1929 highs though most investors would have recovered their losses in the 30's through dividend returns.
