When the world’s financial bubble blew, the solution was to lower interest rates and pump trillions of dollars into the sick banking system. “The solution is the problem, that’s why we had a problem in the first place”. For Economics Nobel laureate Vernon Smith, the Catch 22 is self-evident. But interest rates have been at rock bottom for years, and governments are running out of fuel to feed the economy. “The governments can save the banks, but who can save the governments?” Forecasts predict all countries’ debt will reach 100% of GDP by next year. Greece and Iceland have already crumbled, who will be next?
End of Liberty exposes from a real life perspective how the U.S. is headed for a complete societal collapse. All Americans are now experiencing countless warning signs on a daily basis that a societal collapse is near. Unfortunately, most Americans don’t understand the significance of these warning signs. Each warning sign by itself doesn’t appear to have a lot of meaning, but together these warning signs present a very detailed picture of the current state of the U.S. economy and where this country is soon headed.
Commanding Heights: The Battle for the World Economy
A global economy, energized by technological change and unprecedented flows of people and money, collapses in the wake of a terrorist attack. The year is 1914. Worldwide war results, exhausting the resources of the great powers and convincing many that the economic system itself is to blame.
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. There was literally a pause in that room where the oxygen left, says Sen. Christopher Dodd (D-Conn.)
As the housing bubble burst and trillions of dollars’ worth of toxic mortgages began to go bad in 2007, fear spread through the massive firms that form the heart of Wall Street. By the spring of 2008, burdened by billions of dollars of bad mortgages, the investment bank Bear Stearns was the subject of rumors that it would soon fail. Rumors are such that they can just plain put you out of business, Bear Stearns’ former CEO Alan Ace Greenberg tells FRONTLINE.
Per its title, James D. Scurlock’s virulently angry muckraking documentary Maxed Out examines the many problems associated with escalating U.S. consumer debt. Scurlock places his weightiest emphasis on the ends of the spectrum rooted in extreme evil (read: abuse) – such as the capital lenders who wheedle poor farm families into assuming unmanageable loans and college students into placing massive amounts on credit cards.
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the...
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