Posts tagged video
Black Friday: A Shameful Orgy Of Materialism For A Morally Bankrupt Nation
It has been called “America’s most disturbing holiday”. Black Friday is the day when millions of average Americans wait outside retail stores in the middle of the night in the freezing cold to spend more money that they do not have for more cheap Chinese-made products that they do not need. It is a day when the rest of the world makes fun of Americans for behaving like “rabid animals” and “zombies” as we indulge in a tsunami of greed. It truly is a shameful orgy of materialism for a morally bankrupt nation. It is being projected that approximately 140 million Americans will participate in this disgusting national ritual this year. Sadly, most of them have absolutely no idea that they are actively participating in the destruction of the economic infrastructure of the United States. If you don’t understand why this is true, please be sure to read this entire article all the way to the end.
The amount of merchandise that is purchased on Black Friday is absolutely staggering. For example, just consider how much stuff is sold at Wal-Mart alone…
Wal-Mart said it recorded more than 10 million register transactions between 6 p.m. and 10 p.m. Thursday in its stores and nearly 400 million page views that day on walmart.com. It sold 2.8 million towels, 2 million televisions, 1.4 million tablets, 300,000 bicycles and 1.9 million dolls. Big-ticket electronics like big-screen TVs and new videogame consoles were among the top sellers.
But each and every year, Black Friday also seems to bring out the worst in many people, and this year was certainly no exception. The following are just a few of the national headlines about the rioting and the violence that we witnessed…
And sometimes the violence extends out into the parking lots and into the surrounding neighborhoods. In Las Vegas, a man that was carrying a big-screen television home from Target was shot in the leg…
According to police, a man purchased a big-screen television from the Target store near Flamingo Rd. and Maryland Pkwy. While he was walking to a nearby apartment complex, a man approached and fired a warning shot, causing the victim to drop the television, police said.
Officers tell 8 News NOW the gunman then took the television to a nearby car that was waiting, where a second man helped the gunman load the TV into the car.
The victim approached the two men and tried to get the television back. That prompted the gunman to fire several more rounds, shooting the victim in the leg.
Every year I go over to YouTube to check out the madness that breaks out on Black Friday night all over the nation. Posted below is the best compilation video from Black Friday that I could find. In particular, I love how this video compares American shoppers to zombies…
And there is one more video that I wanted to share with you. In this video, activist Mark Dice dresses up like Santa Claus and mocks Black Friday shoppers for being “parasites” and for ruining Thanksgiving…
Meanwhile, as retail stores all over America actively encourage this zombie-like behavior, police are actually cracking down on other groups of Americans that are actively trying to make this country a better place. For example, a Christian group in Lake Worth, Florida was kicked out of a public park for trying to feed the homeless on Thanksgiving. Of course this kind of thing happens all the time. In fact, dozens of major cities all over the country have now passed laws that make it illegal to feed the homeless. For much more on this, please see my previous article entitled “One Lawmaker Is Literally Smashing The Belongings Of The Homeless With A Sledgehammer“.
At the beginning of this article, I stated that those who go shopping on Black Friday “are actively participating in the destruction of the economic infrastructure of the United States”.
How could that possibly be?
Aren’t they helping the economy by spending their money?
Actually, it isn’t that simple.
Just think about it for a moment. Where are most of the “advertised specials” that people go crazy over on Black Friday actually made?
If you guessed “China”, you would be correct. In fact, it is very difficult to find any “Black Friday specials” that are actually made in the United States.
When you buy stuff made in China, you support workers and businesses in China. As I mentioned in a recent article, the U.S. economy loses approximately 9,000 jobs for every 1 billion dollars of goods that are imported from overseas.
Overall, the U.S. has run a total trade deficit with the rest of the world of more than 8 trillion dollars since 1975.
So when you look around and see lots of unemployed people, it should not be a surprise to you.
Right now, the labor force participation rate is at a 35-year-low and more than 102 million working age Americans do not have a job. That number has increased by 27 million just since the year 2000.
Because the American people are not supporting American businesses, our formerly great manufacturing cities are being transformed into rotting, festering hellholes. Just take a look at Detroit. At one time Detroit had the highest per capita income in the entire nation, but now it is a dying, bankrupt ghost town.
And of course this is happening to manufacturing cities all over the nation. Since 2001, more than 56,000 manufacturing facilities in the U.S. have permanently shut down and we have lost millions upon millions of good paying manufacturing jobs.
Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs. Today, only about 9 percent of the jobs in the United States are manufacturing jobs.
Good job America. And the following are some more facts from one of my previous articles about how our massively bloated trade deficit is absolutely killing our economy…
-There are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.
-When NAFTA was pushed through Congress in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars. By 2010, we had a trade deficit with Mexico of 61.6 billion dollars.
-Back in 1985, our trade deficit with China was approximately 6 million dollars (million with a little “m”) for the entire year. In 2012, our trade deficit with China was 315 billion dollars. That was the largest trade deficit that one nation has had with another nation in the history of the world.
-According to the Economic Policy Institute, America is losing half a million jobs to China every single year.
-According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.
Unfortunately, most Americans never stop to think about what happens when we buy stuff from China.
When we buy stuff from them, our money goes over there.
At this point, they are sitting on trillions of our dollars and they have purchased more than a trillion dollars of our debt.
Up until now, Chinese demand for our dollars has helped keep the value of the U.S. dollar artificially high. This is one of the reasons why Wal-Mart can sell you those Chinese imports so inexpensively.
And up until now, Chinese demand for our debt has helped keep long-term interest rates artificially low. So the U.S. government has been able to borrow money at ridiculously low interest rates and U.S. home buyers have been able to get mortgage rates that are well below the real rate of inflation.
But no irrational state of affairs ever lasts indefinitely, and the Chinese recently announced that they are going to quit stockpiling U.S. dollars. Many analysts believe that this means that the Chinese will soon stop stockpiling U.S. debt as well.
So enjoy those super cheap “Black Friday specials” while they last. That era is rapidly coming to an end.
Now that the Chinese have stolen tens of thousands of our businesses, millions of our jobs and trillions of our dollars, perhaps they feel that there is not much more looting to be done. Our economic infrastructure has been essentially gutted at this point. Moving forward, China can afford to let the value of the U.S. dollar fall and the value of their own currency rise because even Barack Obama admits that “those jobs are never coming back”.
And every single American that went shopping on Black Friday and bought Chinese-made goods actively participated in the ongoing destruction of the U.S. economy.
Good job America. You are a nation that is utterly consumed by materialism and greed, and you don’t even realize that you are destroying yourself with your own foolishness.
This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.
Image credit: http://theeconomiccollapseblog.com
Banks Prepare to Charge Deposit Fees to Customers
During the late October meeting of the Federal Reserve (Fed) Board and the Federal Open Market Committee (FOMC), it was revealed that the 0.25% annual interest rate on money that the banks keep in the Fed would be reduced.
Kris Dawsey, economist for Goldman Sachs said: “The probability of a reduction in the interest rate has increased somewhat . . . The Fed will ultimately decide not to pursue it. One risk is that the move could prompt charges … on bank deposits.”
Industry experts are now decrying that this scenario could affect certain businesses through deposit fees.
Kristin Lemkau, spokesperson for JP Morgan & Chase Co said: “We have no intention of charging for retail customer deposits.”
David George, analyst for Robert W. Baird & Co, explains that the financial institutions “would need to find alternative revenue sources to compensate” because of this decline in the Fed’s interest rate and fees on deposits “would be the most likely” option.
George said: “Having a bank account is a service, like the water and electric bill. And it has become less and less profitable.”
Wayne Abernathy, executive vice president of the American Bankers Association confirmed: “Banks could respond to a drop in the Fed’s interest rate by charging a fee to large business customers that hold millions of dollars in savings accounts. Banks must bear the expense of managing that money.”
Gary Schnitkey, economist at the University of Illinois commented : “Market-watchers do expect the slide in interest rates to end in the near future, but that doesn’t mean they will turn higher immediately. In fact, federal officials will likely take action to keep them at currently low levels in an effort to spur badly needed macroeconomic growth.”
Wall Street is being described as taking this move by the Fed as a threat.
The announcement would cause depositors who earn close to or zero percent interest on checking and savings accounts as a side-effect of the third round of quantitative easing performed by the Fed.
Joshua Siegel, managing partner and chief executive officer with StoneCastle Partners (SCP) said: “From the Fed’s point of view, by discouraging banks from leaving their excess cash at the fed, they are encouraging banks to buy securities in the market (the same as the what they are doing with quantitative-easing purchases) or to go out into the market and make loans. And banks, given their current capital requirements, can be a little riskier, and funds being deployed back into the market would be good for the economy.”
Analysts say that the Durbin Amendment within the Dodd Frank Act which limited fees imposed by merchant retailers onto banks who issue debit cards “has effectively hit consumer-banking revenues pretty hard.”
When accessing debits, banks view checking accounts as high-risk and costing “a lot of money” to the banks.
Insurance is taken when banks impose a minimum balance to the account to ensure the customer retains specified funds by which the bank can manipulate; however this does not equal high revenue for the banks in the long-term.
In 2012, the 7th Circuit Court of Appeals ruled that when a bank is insolvent, under duress or in bankruptcy the funds in private checking accounts could be used to pay off debts or loans owed by the bank.
Since the ruling gives banks the right to co-mingle customer funds with their own, no crime can be committed for the use of customer deposited monies.
According to Walker Todd, former lawyer for the Federal Reserve Bank of New York and Cleveland: “Basically, there is a new 7th Circuit opinion saying that there is no reason to impose a constructive trust on a lender’s takings of customers’ funds from client commodity firms that were used (inappropriately) to secure the firms’ borrowings, as long as the lender can say that it did not know WITH CERTAINTY that customers’ funds were being repledged. Negligence and misappropriation (vs. knowing criminal intent) are now a sufficient excuse for letting the lender keep the money and go to the head of the line for distributions in bankruptcies of the client commodity firms.”
When a customer deposits money into a bank, the bank essentially issues a promise to have those funds available when the customer returns to withdraw the deposited amount.
When the same customer withdraws funds from their account (whether checking or savings) the customer assumes that the bank has enough funds to cover their withdrawal; including the presumption that their monies are separate from the bank’s assets.
Now, those funds are up for grabs by the bank at their discretion without explanation to the customer – nor is the bank obligated to recoup the customer should they “lose” those funds due to bad loans, bankruptcy or stock market loss.
Canada has proposed in their government budget entitled, “Economic Action Plan 2013” that those too big to fail banks will benefit from a bail-in. Just like the European Parliament, Canada is setting the stage for depositors to have their funds removed from their accounts on behalf of the government for the benefit of the technocrats.
The document reads: “The Government proposes to implement a “bail-in” regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital; the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants.”
Analyst Jim Sinclair explained : “Bail-ins are coming to North America without any doubt, and will be remembered as the ‘Great Leveling,’ of the ‘great Flushing’ (of Lehman Brothers). Not only can it happen here, but it will happen here. It stands on legal grounds by legal precedent both in the U.S., Canada and the U.K.”
According to Sinclair “bail-ins do not require a crisis to occur and can surface one bank at a time, spread out over years. The major situation is deposits above insurance levels in banks too big to fail. Those deposits are directly in harm’s way.”
Image credit: http://www.occupycorporatism.com
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Fed has created a huge global bubble: David Stockman (Video)
“The Fed is exporting this lunatic policy worldwide.”
This doesn’t end well.
The Fed is the prime mover of crony capitalism. The 0% rates of the past 5 years have made Wall Street fat with fiat currency, while the real economy has languished.
There is so much funny money about that the very rickety underpinnings of the world economy (the current bubble) have been hidden. A paper money mache. Paper mache is not a sound construction material.
Image credit: http://www.againstcronycapitalism.org
MUST SEE Crosstalk on the Iran-Obama Deal
This is the first time I have seen RT’s Crosstalk show, but what a great show it is. There is a quick and knowledgeable host in Peter Lavelle and great guests. In this edition, the guests include Ron Paul Institute Director Daniel McAdams. After you see his performance here and the knowledge he displays, you will know why Ron Paul picked him to head the Institute.
RT CrossTalk video capture added to Robert’s original post.
By Tyler Durden
ObamaScare – The Uncomfortable Truths
With delays, glitches, and broken promises plaguing the President’s healthcare reform, it is perhaps surprising that the level of coverage among the mainstream media of the SNAFU – and more importantly its potential implications – is not higher. Of course, in each news cycle, Obamacare is mentioned, along with a soundbite of how it will all be fixed soon and it’s only the website, but, as the following uncomfortable clip shows, there are notable and far-reaching implications (not the least of which is the progression to a part-time economy that we have so vociferously pointed out – explicitly here and anecdotally here) for Americans and the US economy as a whole.
Obamascare video capture added to original post.
There Already Is A Government Health Care System In America And It Is The Medical Version Of Hell
What would happen if the entire health care system in the United States was run by the federal government? Would such a system be better or worse than what we have today? To get an answer to these questions, all we have to do is take a look at what is already happening. The truth is that there already is a government health care system in America and it is the medical version of hell. You are about to read about the horrifying state of health care being provided by the federal government at VA hospitals and on Indian reservations around the country. Injured military veterans and those that live on Indian reservations are some of the most vulnerable members of our society, and the government is doing an absolutely nightmarish job of taking care of them.
Theoretically, the government should be able to provide at least a basic level of care for these people, but as you will see this is simply not happening.
The bottom line is that the federal government is completely and utterly incompetent. This has been demonstrated once again in recent months by the launch of Obamacare. What a train wreck that has been.
But we shouldn’t be surprised. When it comes to health care, the U.S. government can’t seem to get anything right.
Most Americans don’t realize this, but government-run health care for our military veterans is a complete and total joke. In some instances, it can take critically injured military veterans more than a year to see a doctor…
CJ Jackson, a Purple Heart recipient and 101st Airborne medic, was severely wounded during a battle in Afghanistan when an enemy rocket-propelled grenade hit a wall a couple of feet from him, sending debris into his arm and leg. He said he waited over a year to see a doctor at the Jackson VA despite being considered critically injured.
And once a vet is finally able to see a doctor and have surgery scheduled, those surgeries are often conducted in facilities that are beyond disgusting. The following is what one orthopedic surgeon recently told CNBC…
“Occasionally we’d find pieces of bone” on equipment, he told CNBC. “What it really shows is that no one is really taking the time or care to clean the instruments.”
His story was backed up by Dr. Phyllis Hollenbeck, who still works at the hospital. She testified on Sept. 9 about problems at the Jackson center. “Essentially everything that happens in primary care at the Jackson VA can be included under the umbrella of being unethical, illegal, heartbreaking, and life threatening for the veterans, and everything in the care of the veterans starts in primary care.”
Of course this is not the first investigation that discovered these kinds of conditions at VA hospitals. A few years ago, ABC News also conducted an investigation of conditions at VA facilities across the United States. What ABC News discovered was absolutely staggering. The following are just a few of the things that they found during the course of their investigation…
*Bathrooms filthy with what appeared to be human excrement
*Dirty linens from some patients mixed in with clean supplies
*Examining tables that had dried blood and medications still on them
*Equipment used to sterilize surgical instruments that had broken down
*Some patients that were begging for food and water
*Vets neglected so badly that they had developed horrific bedsores and dangerous infections
Is this how the federal government should be treating the men and women that have shed blood fighting for our country?
Unfortunately, it appears that the mistreatment of our military veterans has gotten even worse since Barack Obama took power. For much more on all of this, please see my previous article entitled “25 Signs That Military Veterans Are Being Treated Like Absolute Trash Under The Obama Administration“.
The funny thing is that many of the people that run these VA facilities are greatly rewarded for their “hard work”. For example, CNBC discovered that those running the VA facility in Jackson, Mississippi described above are receiving huge bonuses…
The director of the Jackson VA, Joe Battle, received a $6,500 bonus last year on top of his $165,000 salary, and Rica Lewis-Payton, the network director of the South Central Health Care Network, which includes Jackson, got almost $36,000 in bonuses last year, on top of her $180,000 salary.
Are you disgusted yet?
You should be.
And we see the exact same thing happening in government-run health care facilities on Indian reservations.
By treaty, the U.S. government is required to provide health care on Indian reservations. But the level of health care being provided is of extremely low quality and the programs are very underfunded.
In fact, things are so bad that the following expression is very commonly heard on Indian reservations across America…
“Don’t get sick after June”.
Why would they say that?
Well, because in the fall and winter the waits to see a doctor and the rationing of care get particularly bad. If you get seriously ill, you might end up dying before you ever get the care that you need.
Posted below is a video news report featuring Judge Andrew Napolitano about the horrific state of government-run health care on Indian reservations…
In light of all of this, should we have more government interference in the health care system or less?
This article first appeared here at the The American Dream. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.
Image credit: http://endoftheamericandream.com
By RPI Staff
Judge Andrew Napolitano: Congress Can Cut the NSA Budget
Judge Andrew Napolitano, an RPI Advisory Board member, explains on Fox News last week that the US Congress can restrain the National Security Agency’s mass spying by cutting the NSA’s budget. “The recourse is to persuade Congress to clip the NSA’s wings by taking some of its budget away from it—and that almost happened a few months ago, and it may happen after the first of the year,” says Napolitano.
Watch the three minutes news segment here:
Fox News interview with Judge Napolitano video capture added to original post.
Michael Snyder: Next Great Wave of Economic Crisis – Gold, Silver, Grow Food, Alternative Energy (Video)
Published by Greg Hunter
Published on Nov 20, 2013
http://usawatchdog.com/michael-snyder… – Michael Snyder, Publisher of TheEconomicCollapseBlog.com says the next crisis, “will be like 2008 on steroids. . . . We’re living in the greatest debt bubble in the history of the planet.” Snyder suggests people need to take steps to protect themselves against this debt bubble bursting. Snyder says, “Learn how to grow good food, get alternative sources of energy, and hold gold and silver for the long term.” Join Greg Hunter as he goes One-on-One with investigative reporter Michael Snyder.
Federal Reserve Hides Trillions?
Still Report #131 — Fed Hides Trillions?
Video published by Bill Still
Lawsuit in U.S. District Court accuses the Fed of “embezzling” $7 Trillion from the United States.
A False Claim (whistleblower) suit has been filed naming the Federal Reserve as defendants. The Federal Reserve (FRBNY and BOG) are accused of hiding a trillion dollars annually using their exclusive handling of records and disbursement of the Treasury security auction accounts.
Those accounts are claimed to have never been subject to independent audit nor have they ever been reported to Congress as required by law.
The Amended Complaint filed in Federal District Court in Kansas City alleges the BOG is operating as a government contractor as defined by the Supreme Court and is not an agency immune from suit. Further, their systemic violation of the law that all profit of the Fed belongs to the government is alleged to negate any claim to government immunity.
Improperly handled funds subject to recovery are statutorily limited to a six year limit. Penalties allow for triple damages.
The link to the legal cite on Scribd:
Japan pays respects to Kennedy on 50th anniversary of shooting
Published by AFP news agency on Nov 23, 2013
About 100 Japanese people gathered in a church western city of Toyama on Saturday to attend a Catholic mass to commemorate the 50th anniversary of the assassination of US President John F. Kennedy.