Economic News We Don’t See In The U. S.

As most Americans continue to feel the impact of the economic slowdown, the true impact of our condition is not fully disclosed by U. S. media. Depending on the media source, information is biased towards the source’s own interests.

The National Association of Realtors (NAR) tends to want to keep reports optimistic. Their interest is to promote sales for their members, the realtor. Indeed, many reports they issue attempt to accomplish this.

Our major media outlets such as Fox News, CNN, NBC, CBS, ABC with all of their cable affiliates tend to report based on their views and probably those of their advertisors. After all, if conditions are reported to be as bad as they are, many would not purchase the products advertised.

Here are links to give you views from Europe and more specifically England. I found this information to confirm many of my views. You decide for yourself. The credibility of the sources certainly speak for themselves.

Barclays warns of a financial storm as Federal Reserve’s credibility crumbles.

From: Telegraph.co.uk Last Updated: 12:01am BST 28/06/2008

A prediction of a “deep global recession…”. The article opens with:

US central bank accused of unleashing an inflation shock that will rock financial markets, reports Ambrose Evans-Pritchard.

Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall “below zero”.

“We’re in a nasty environment,” said Tim Bond, the bank’s chief equity strategist. “There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve
their wealth.”

“Strategists at Barclays accuse Ben Bernanke of a policy blunder”

The article goes on to say:

Mr Bond said the emerging world is now on the cusp of a serious crisis. “Inflation is out of control in Asia. Vietnam has already blown up. The policy response is to shoot the messenger, like the developed central banks in the late 1960s and 1970s,” he said.

“They will have to slam on the brakes. There is going to be a deep global recession over the next three years as policy-makers try to get inflation back in the box.
Read the full story…..

RBS issues global stock and credit crash alert
By Ambrose Evans-Pritchard, International Business Editor, Telegraph.co.uk
Last Updated: 12:19am BST 19/06/2008

Here Royal Bank of Scotland (RBS) opens with:

The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.

“A very nasty period is soon to be upon us – be prepared,” said Bob Janjuah, the bank’s credit strategist.

A report by the bank’s research team warns that the S&P 500 index of Wall Street equities is likely to fall by more than 300 points to around 1050 by September as “all the chickens come home to roost” from the excesses of the global boom, with contagion spreading across Europe and emerging markets.

Read the full story…..


Be sure to follow the other links in these two articles as they contain some very good insight as well.



I have been a realist throughout this so called housing bubble or mortgage meltdown. I draw my conclusions from my own experience and those of others.

Most business people I speak with are having “meltdowns” of their own. Most individuals are feeling the economic impact of higher fuel and food prices. Many are unemployed or facing unemployment. Many are unable to find new jobs or create new business to sustain themselves. Too many are losing their homes, cars, savings and dignity yet our domestic media continues to tell the masses that things are getting better, not to worry, keep spending as this will soon be over.



They claim we are not yet in Recession. I claim that we have been for over a year now. I further claim that when this plays out in history it will prove to be “greater” then the Great Depression.



The wealth of this nation is being transferred to a few at the expense of “the nation”. These few will prosper and profit while the rest of us will fall into hunger and homelessness.


I don’t mean for these comments to frighten people. We need to establish reality, prepare ourselves accordingly and more importantly, LET OUR POLITICIANS KNOW WE KNOW. FORCE THEM TO ACT ACCORDINGLY “FOR THE PEOPLE”.

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