Tapsearch Com EditorCauses and effects leading up to economic crisis
See post at
News ruptured by time lines - Bizarre Politics
Time lines and segmented news. February 4th 2011 21:43. Bizarre Politics Reports: The major news channels isolates the news in timelines primarily based on ... election cycles and cuts off the stream of causes and effects behind our economic crisis....
News ruptured by time lines and chops off causes and effects behind our economic crisis
FREE TRADE TRIGGERED ECONOMIC CRISIS YEARS AGO AS MILLIONS LOST THEIR JOBS IN THE MOST MASSIVE DISLOCATION OF JOBS IN HISTORY
This is taken from the New York Financial Times from 1996 not 2008
The headline read :
Personal bankruptcies jump 19 percent to 1.4 million as one in 200 filed for bankruptcy
It reported that the number of Americans declaring themselves bankrupt shot up by 19 percent to 1.34 million - more than at any time in the nation's history, including the Depression according to the Visa USA credit card company.
Visa wanted Congress to do something about it. They denied contributing to the problem by showering consumers with unsolicited offers of credit cards on easy terms. This came when millions were losing their jobs and small business owners were maxing out their credit cards trying to stay afloat. It was a time when workers and business owners thought they would be able to make a come back just like other generations did. They did not. Too many took too long in adjusting to the assault by free trade and eventually lost everything it took a life time to accumulate.
This came at a time when President Clinton was proclaiming a statistical prosperity proving how numbers can hide the real world for a long time.
Visa got its way and Congress passed new laws to stop the surge of bankruptcy. Congress passed laws to require courts to inform debtors of alternatives to bankruptcy such as credit counseling and requiring those going bankrupt to complete a course. As we know now many of the credit counseling firms were more interested in making money than helping people. And as we know now many of the credit companies charged usury interest rates with many having no chance of making a come back.
The facts were on the table back then but no one in the news or government noted the problems. Just imagine a small business owner who had enjoyed a successful business for many years having to take a course and counseling through government assigned agencies after losing everything due to free trade.
As we have found out the working poor class that replaced the middle class workers were unable to help grow our economy. Our economy based on making money on money instead of making things burned out.
President Obama came and bailed out the free trade money changers and never cited free trade as the cause. Nothing good will follow all this as the massive stimulus money fades away. The economic crisis is not over and will never be until our leaders and news media challenge free trade directly. Only local value added economies in balanced geopolitical regional settings work. All the consumer buying in the world will not alter the negatives of free trade. There is no bottom. Free trade continues a race to the bottom.
See more at Tapsearch Com sites or search under tapsearch pages, tapsearcher or ray tapajna page for thousands of resources and references.
News ruptured by time lines - Bizarre Politics
Time lines and segmented news. February 4th 2011 21:43. Bizarre Politics Reports: The major news channels isolates the news in timelines primarily based on ... election cycles and cuts off the stream of causes and effects behind our economic crisis....
News ruptured by time lines and chops off causes and effects behind our economic crisis
FREE TRADE TRIGGERED ECONOMIC CRISIS YEARS AGO AS MILLIONS LOST THEIR JOBS IN THE MOST MASSIVE DISLOCATION OF JOBS IN HISTORY
This is taken from the New York Financial Times from 1996 not 2008
The headline read :
Personal bankruptcies jump 19 percent to 1.4 million as one in 200 filed for bankruptcy
It reported that the number of Americans declaring themselves bankrupt shot up by 19 percent to 1.34 million - more than at any time in the nation's history, including the Depression according to the Visa USA credit card company.
Visa wanted Congress to do something about it. They denied contributing to the problem by showering consumers with unsolicited offers of credit cards on easy terms. This came when millions were losing their jobs and small business owners were maxing out their credit cards trying to stay afloat. It was a time when workers and business owners thought they would be able to make a come back just like other generations did. They did not. Too many took too long in adjusting to the assault by free trade and eventually lost everything it took a life time to accumulate.
This came at a time when President Clinton was proclaiming a statistical prosperity proving how numbers can hide the real world for a long time.
Visa got its way and Congress passed new laws to stop the surge of bankruptcy. Congress passed laws to require courts to inform debtors of alternatives to bankruptcy such as credit counseling and requiring those going bankrupt to complete a course. As we know now many of the credit counseling firms were more interested in making money than helping people. And as we know now many of the credit companies charged usury interest rates with many having no chance of making a come back.
The facts were on the table back then but no one in the news or government noted the problems. Just imagine a small business owner who had enjoyed a successful business for many years having to take a course and counseling through government assigned agencies after losing everything due to free trade.
As we have found out the working poor class that replaced the middle class workers were unable to help grow our economy. Our economy based on making money on money instead of making things burned out.
President Obama came and bailed out the free trade money changers and never cited free trade as the cause. Nothing good will follow all this as the massive stimulus money fades away. The economic crisis is not over and will never be until our leaders and news media challenge free trade directly. Only local value added economies in balanced geopolitical regional settings work. All the consumer buying in the world will not alter the negatives of free trade. There is no bottom. Free trade continues a race to the bottom.
See more at Tapsearch Com sites or search under tapsearch pages, tapsearcher or ray tapajna page for thousands of resources and references.
