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Tag Archives: Depression

Obama’s Five Trillion Dollar Lie

Why isn’t the U.S. economy in a depression right now?  The number one reason is because the federal government has stolen more than five trillion dollars from future generations since Barack Obama was elected and has used that money to pump up our grossly inflated standard of living.

Whether the federal government spends money wisely or foolishly, the truth is that the vast majority of it still ends up in the pockets of the American people who then use it to buy the things they need for their daily lives.  If the U.S. government had not borrowed and spent an extra five trillion dollars that we did not have over the past several years, we would be in the middle of a rip-roaring economic depression right now.  So any talk that Barack Obama is “improving the economy” is a total farce.  It is a five trillion dollar lie.  The reality is that Barack Obama and the U.S. Congress have been stealing trillions of dollars from future generations in order to make things tolerable in the present.  If the federal government adopted a balanced budget next year, the debt-fueled prosperity that we are currently enjoying would start disappearing very rapidly and all hell would break loose in America. Read the rest of this entry »

 

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Goldman Sachs: Investing In Political Influence

 

Goldman Sachs was a major contributor to (and beneficiary of) the 2007 subprime mortgage crisis that helped initiate the current depression. The bank then proceeded to heavily avail itself of bailout payments and other monetary assistance from the federal government.

In 2010, the Securities and Exchange Commission (SEC) filed a lawsuit against the company, alleging that it had deceived investors about the nature of one of its products, costing them a total of $1 billion.

Goldman Sachs was defended in the lawsuit by its longtime legal firm, Skadden, Arps, Slate, Meagher & Flom, LLP. One of its advisors on defense strategy was a partner in the firm by the name of Gregory Craig, who had left his job as White House Counsel only months before. When observers raised ethical concerns, some of them pointing out that the Obama Administration prohibits its former members from lobbying it for at least two years, Craig responded by saying, “I am a lawyer, not a lobbyist.” Read the rest of this entry »

 

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Follow the Money: BPA Makers to Gross $8 Billion Thanks to FDA Rejecting Ban

Producers of toxic BPA are now boasting $8 billion in sales for 2012 thanks to the FDA rejecting a potential ban on the cancer-linked chemical on March 30th. According to GlobalData, manufacturers will produce 4.7 million metric tons of BPA this year to be dispersed into the daily lives of millions worldwide.

BPA now goes into everything: plastic bottles, canned foods, DVDs, plastic wrap, and much more. Despite being linked to about as many serious health conditions as the amount of products it contaminates, the FDA has decided once again to side with mega corporations over protecting the health of the people. Read the rest of this entry »

 

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