Category Archives: Recession

Americans Have Already Skipped Payments On More Than 100 Million Loans, And Job Losses Continue To Escalate

By Michael Snyder Source: Economic Collapse Blog Those that have been hoping for some sort of a “V-shaped recovery” have had their hopes completely dashed.  U.S. workers continue to lose jobs at a staggering rate, and economic activity continues to … Continue reading

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Meet BlackRock, the New Great Vampire Squid

By Ellen Brown Source: Web of Debt BlackRock is a global financial giant with customers in 100 countries and its tentacles in major asset classes all over the world; and it now manages the spigots to trillions of bailout dollars … Continue reading

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The financialization of the end of the world

By Kurt Cobb Source: resilience For those who are fans of cartoons from The New Yorker magazine and consistent readers of this blog, you might be able to guess my two favorite cartoons. In the first one, a man in a coat and … Continue reading

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Another Bank Bailout Under Cover of a Virus

By Ellen Brown Source: Web of Debt Insolvent Wall Street banks have been quietly bailed out again. Banks made risk-free by the government should be public utilities.   When the Dodd Frank Act was passed in 2010, President Obama triumphantly … Continue reading

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Re-Opening the Economy Won’t Fix What’s Broken

By Charles Hugh Smith Source: Of Two Minds Re-opening a fragile, brittle, bankrupt, hopelessly perverse and corrupt “normal” won’t fix what’s broken. The stock market is in a frenzy of euphoria at the re-opening of the economy. Too bad the … Continue reading

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Private gain must no longer be allowed to elbow out the public good

By Dirk Philipsen Source: aeon Adam Smith had an elegant idea when addressing the notorious difficulty that humans face in trying to be smart, efficient and moral. In The Wealth of Nations (1776), he maintained that the baker bakes bread … Continue reading

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Corporate Looting as ‘Rescue Plan,’ Robber Barons as ‘Saviors’

By Joshua Cho Source: FAIR.org For a perfect illustration of how corporate media function as ruling class propaganda, watch how they spin a titanic upward redistribution of wealth as a “rescue plan” for the US economy, and paint a robber … Continue reading

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There’s No Going Back, We Can Only Go Forward

By Charles Hugh Smith Source: Of Two Minds What I see is a global collapse of intangible capital that is invisible to most people. It’s only natural that the conventional expectation is a return to the pre-pandemic world is just … Continue reading

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