Tapsearch Com EditorEconomic crisis not new - a story behind the news
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President Roosevelt said, economic diseases are highly communicable
Here's what happen years before our economic crisis - it is from the New York Financial Times in January of 1998 - that's more than 12 years before our so called economic crisis today /COLOR]
This is before, our economic crisis was blamed on lending to people who could not afford home mortages. This articles shows that free trade was the cause of our economic crisis years ago and the Bewildered New World was predicted years ago.
The U.S. suffered record breaking bankruptcies. Millions lost their jobs and could not find another of equal value or or any value at all. And 47 percent of all small business owners had maxed out their credit cards trying to surive the onslaught of free trade. Generally, many were paying up to 27 percent interest.
",,,,,,,,,,,,,, New York Financial Times reported ,
The number of American declaring bankruptcy shot up by 19 percent to 1.34 million last year ------- more than at any time in the nation's history
[COLOR=Purple] ....including the Depression according to the VISA USA credit card company
........... the money lost amounted to $30 billion dollars in 1996 and $40 billion dollars in 1997. That cost was passed on to other consumers in the form of higher retail pirces or higher borrowing costs.
........... ( 1 in every 200 in the U.S. )The proportion filing last year (1997), represent ed about one in 200 of the population, far exceeding the rate in other western countries. In Britain, fewer the 30,000 people declared bankruptcy in 1995, representing about one in 2,000 of the population.
_____________________________
The core of this economic storm centered on free trade with a vast new working poor class created in just a few short years with many other workers missing in action from any kind of real unemployment reporting.
What comes around goes around.... Now free trade has boomeranged back to government workers in the USA who represent the last stand in the fall of the middle class. Free trade was and is a war on the middle class and the real cause of our economic crisis. President Obama followed three free trader president and as one himself, bailed out the big money interests and free traders and put them back in charge of the process. The bail outs represent just a ban-aid on a economic disease - free trade. It won't last long.
All should have know this, when the first bail out went to a foreign country. In 1995, President Clinton had to rush billions of dollars to Mexico to save the peso and the Mexican economy even though the U.S. had sent more than 4,000 U.S. factories to Mexico. This was forecast of what was to come on a much wider basis.
The record breaking bankruptcies came while President Clinton was proclaiming prosperity and he used the Social Security Trust Fund to finance the war in the Balkans.
President Roosevelt said, economic diseases are highly communicable
Here's what happen years before our economic crisis - it is from the New York Financial Times in January of 1998 - that's more than 12 years before our so called economic crisis today /COLOR]
This is before, our economic crisis was blamed on lending to people who could not afford home mortages. This articles shows that free trade was the cause of our economic crisis years ago and the Bewildered New World was predicted years ago.
The U.S. suffered record breaking bankruptcies. Millions lost their jobs and could not find another of equal value or or any value at all. And 47 percent of all small business owners had maxed out their credit cards trying to surive the onslaught of free trade. Generally, many were paying up to 27 percent interest.
",,,,,,,,,,,,,, New York Financial Times reported ,
The number of American declaring bankruptcy shot up by 19 percent to 1.34 million last year ------- more than at any time in the nation's history
[COLOR=Purple] ....including the Depression according to the VISA USA credit card company
........... the money lost amounted to $30 billion dollars in 1996 and $40 billion dollars in 1997. That cost was passed on to other consumers in the form of higher retail pirces or higher borrowing costs.
........... ( 1 in every 200 in the U.S. )The proportion filing last year (1997), represent ed about one in 200 of the population, far exceeding the rate in other western countries. In Britain, fewer the 30,000 people declared bankruptcy in 1995, representing about one in 2,000 of the population.
_____________________________
The core of this economic storm centered on free trade with a vast new working poor class created in just a few short years with many other workers missing in action from any kind of real unemployment reporting.
What comes around goes around.... Now free trade has boomeranged back to government workers in the USA who represent the last stand in the fall of the middle class. Free trade was and is a war on the middle class and the real cause of our economic crisis. President Obama followed three free trader president and as one himself, bailed out the big money interests and free traders and put them back in charge of the process. The bail outs represent just a ban-aid on a economic disease - free trade. It won't last long.
All should have know this, when the first bail out went to a foreign country. In 1995, President Clinton had to rush billions of dollars to Mexico to save the peso and the Mexican economy even though the U.S. had sent more than 4,000 U.S. factories to Mexico. This was forecast of what was to come on a much wider basis.
The record breaking bankruptcies came while President Clinton was proclaiming prosperity and he used the Social Security Trust Fund to finance the war in the Balkans.
