You Are Here: Home » News » Economic Collapse (Page 5)

Kentucky Senators co-sign bill to create economic freedom zones in hard hit communities around the country

Since members of both the House and the Senate have chosen to waste their time chasing the false allegations of Russian hacking since Donald Trump entered the White House, very little has been accomplished in dealing with the problems facing the American people.  However on July 14 both Senators from the state of Kentucky appear to be finally getting off their chairs to offer some type of legislation that w ...

Read more

While the state of Illinois’ credit rating teeters just above junk, the City of Harford beats them to the punch

Despite the fact that the state of Illinois finally passed a budget for the first time in three years,  Moody's ratings agency last week stated that it probably won't be enough to keep their credit rating from falling down into Junk status.  And while this eventual move by Moody's will make Illinois the first ever state to fall into that low level of credit stability, over in Connecticut the drop in credit ...

Read more

Italian bank bailouts allowed despite EU rules because governments know you can only inflict a bail-in one time

Rules introduced by the EU last year forbid taxpayer money being used to rescue lenders without investors also taking a hit. But investors are to be protected under the deal pulled together by Rome and approved by the European Commission. - Express Over the past two weeks, the Italian government was given permission by the ECB to bailout three banks despite the fact that current rules within the European Un ...

Read more

True Religion apparel becomes the next retailer to file for bankruptcy

When Moody's published their list of retailers who had strong potential to go bankrupt in 2017, the ratings agency may not have fully understood how prescient their forecasts were to be.  This is because in just the past two months, Rue 21, Gymboree, and a large restaurant conglomerate have all defaulted on debt payments and have been forced to seek bankruptcy protection. Now on July 5 we can add another ap ...

Read more

Debt levels now so great in the U.S. that both the Federal government and two states can’t pass budgets

Because of too many promises politicians couldn't keep, nearly every state in some capacity has fiscal problems that make it more difficult each year to pass a responsible budget.  But for two states, along with the Federal government itself, they have reached the point where they can't even pass a budget at all. We have written extensively about the state of Illinois' inability to deal with its underfunded ...

Read more

Global debt continues to be 325% of the world’s annual GDP

There remains to be an underlying question in the global economy as the world's central banks begin to tighten the screws on their policies of cheap money.  And that is, since the banks and economy have relied almost solely on the Fed, ECB, BOJ, and Bank of China's printing of 10's of trillions of dollars to 'stimulate' the financial system, what is bound to happen once they turn off the monetary spigots? T ...

Read more

New IMF report suggests dollar is 10-20% overvalued

On June 27, the IMF published a report which validated what many in the alternative media knew already... that economic growth over the past nine years following the 2008 financial crisis has been much worse than 'officially' reported.  And because of this, and because of several other factors such as increases to the national debt, the current value of the dollar is estimated to be 10-20% higher than it sh ...

Read more

First Spain, and now Italy as ECB rushes in to deal with insolvent PIIGS banks

A couple of weeks ago, the ECB engineered the final collapse of Banco Popular by allowing Santander to purchase the institution for one euro, and then providing funds to help shore up and recapitalize the bank following the takeover.  And despite EU rules which prohibit bailout interventions, the European Central Bank went around these statutes because Banco Popular's fall would mean severe problems for Ger ...

Read more

Fed doesn’t appear to understand real inflation as food prices soar 14% in just the past two months

Last week Janet Yellen and the Federal Reserve chose to raise interest rates a quarter point at a time when economic data has been at or near recessionary levels for at least the past two quarters.  And of significance was the FOMC's claim that inflation was still running below the central bank's target rate of 2%. The Federal Reserve approved its second rate hike of 2017 even amid expectations that inflati ...

Read more

Illinois so bankrupt that even Powerball dumped them for fear of receiving payments

It is perhaps not ironic that the two states that are most in debt are ones that are ruled completely by Democratic politicians.  And of course we are referring to California and Illinois. However, at least for California they have had the fortitude to pass an annual budget.  But for Illinois, their incompetency at the legislative level is so great that not only have they not passed a budget in over three y ...

Read more

Will the Fed claim today’s core retail sales miss as another ‘transitory’ data indicator as they prepare to announce next rate decision?

As the Federal Reserve begins their two day FOMC meeting on June 14, a major economic indicator was published today which showed that core retail sales declined for the month of May, and was the lowest print since January of 2016. This data also coincides with the first quarter announcement of only a .7% increase to the GDP, and the growing number of retailers and restaurants that are shuttering their doors ...

Read more

Economic recovery fraud as 93% of all new jobs are imaginary, and 72% of all businesses are unprofitable

Tens of trillions of dollars in printed money can mask many ills, but there was a reason why the voters chose to elect Donald Trump to the office of President during last year's election... because on Main Street the economic recovery so touted by the Fed has been a complete fraud. And while we could quibble over the fact that 93 million Americans are not even being counted in the nation's labor pool, or th ...

Read more

© 2012 Secrets of the Fed