Economy Grows 3.2% WHY? 7 Bank Failures and Spain jobless rate 20%

Seven more banks failed on Friday. This time it was much worse than last week's 7 bank closures. These banks are going to hit the FDIC with a $7.4 billion bill. Not only is the size of the failures increasing, but the rate is dramatically spiking. We've had over 20 failures in April along and the total number of for the year is 64.

In other news, the economy expanded by 3.2%. This was mostly customer spending. So is this the big break that economists have been waiting for? Is this the beginning of a recovery?

Not, really. Many people aren't paying their mortgages, so naturally, a lot of people have more money to spend. Plus, you add in the spending of the income tax checks and ignore the banks attempts to hide their toxic assets and you get an increase in the GDP.

Interestingly enough, the increase was below expectations.

So what do you think?

S&P Cuts Greece Ratings To Junk! Portugal Lose Sovereign Status!

S&P Cuts Greece Ratings To Junk! Portugal Lose Sovereign Status!

It looks like we may be seeing the next wave in the collapse. Standard and Poor lowered Portugal sovereign status from an "A+" to an "A-" while putting Greece's rating in the junk pile. The markets didn't react very well to that. The Dow lost 200 points, but frankly I don't care about the stock market. I'm more concerned about the standard of living for the average Jane and Joe.

S&P cuts Portugal's sovereign ratings to 'A-/A-2'
http://www.marketwatch.com/story/sp-cuts-portugals-sovereign-ratings-to-a-a-2-2010-04-27-114570

S&P Cuts Greece Ratings To Junk, Markets Slump
http://online.wsj.com/article/BT-CO-20100427-716153.html?mod=WSJ_World_MIDDLEHeadlinesEurope

People Walk by Dying Man in Public! National Guard Fight Crime in Illinois?

What I am about to say to you is so outrageous that you may not believe. So I encourage you to click on the link. A homeless man was stabbed to death in New York. Doesn't sound shocking, right? Well, the homeless helped a woman who was being attacked by some thug. The homeless man was stabbed and left for dead. What happened next is unbelievable! Pedestrians saw the man on the ground and walked by him. That's right. For hours, ordinary people walked by the dying man. They didn't even care. One lowlife actually stopped to pull out his cellphone to take photos of the man.


New York City. The so called "center of the world" where this disgusting incident happened. Is this the type of country we want to live in? Is this what we are about?

In other news, two Illinois lawmakers are calling for the National Guard to help fight crime in Chicago. The city has had 116 murders this year alone. So much for gun control laws!

Let's see, we're going to turn Chicago into a military camp.

America is going down the shitter!

Food Prices Jumps 2.4% (Largest in 26 Years)

In the month of March, food prices jumps 2.4%, the largest jump in 26 years. This week, Lockheed Martin and Boeing announced layoffs, while Detroit, Cobb County and Connecticut sent pink slips to thousands of teachers. It looks like somewhere between 100,000 and 300,000 teachers will be laid out this year nationwide.

I've been telling people to store up on food and water for over one year. I have told uploaded countless videos on youtube demonstrating my preparation for what I believe to be an upcoming period of turmoil for this country. At this point, I can only hope that people were listening.

Food costs jumped 2.4 percent, the largest increase in 26 years.
http://www.google.com/hostednews/ap/article/ALeqM5iwJEZ9gZ5neSoGoW_F4chYlG3wHwD9F89FEG2

More Layoffs At Lockheed Martin
http://www.wicz.com/news2005/viewarticle.asp?a=13761

Boeing issues layoff notices to 130 in state, 300 companywide
http://seattletimes.nwsource.com/html/boeingaerospace/2011649246_boeing20.html

Cobb schools cut 734 jobs
http://www.ajc.com/news/cobb/cobb-schools-cut-734-485071.html?imw=Y

2,000 Connecticut Teachers Face Layoffs Before Next School Year
http://www.courant.com/news/education/hc-teacher-cuts-0422.artapr22,0,2444577.story

DPS sends layoff notices to 2,000 teachers
http://www.freep.com/article/20100419/NEWS01/100419071/DPS-sends-layoff-notices-to-teachers

Goldman Sachs Should Cut Losses in SEC Standoff, Lawyers Say
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVTs5FgBoCVg&pos=1

Greek Deficit Revised to 13.6%; Moodys Cuts Rating
http://www.bloomberg.com/apps/news?pid=20601010&sid=aNEqq__19gRE

U.K. GDP Rises Half as Much as Economists Forecast
http://www.bloomberg.com/apps/news?pid=20601068&sid=aVgznkIRyHIk

US demands Chinese action on yuan
http://presstv.com/detail.aspx?id=123825§ionid=3510213

Gerald Celente Predicts Collapse of 2010

I guess I'm not the only one who warned of a possible terrorist attack in 2010. President of Trends Research Institute, Gerald Celente, is warning Americans about the consequences of U.S. foreign policy. He's saying that the U.S. can expect backlash from the families of the victims in Pakistan and all across the world. He believes the increase in terrorist attacks will be directly related to the wars in Afghanistan and Iraq.

Simply put, Celente argues that the U.S. bombing in Pakistan has created one of the greatest refugee crisis in recent history and that the survivors may seek revenge on America.

Celente, who predicted the stock market crash of 1987, the collapse of the Soviet Union and the collapse of 2008, is now forecasting a breakdown crisis in 2010.

I highly recommend you view this videos.

Breaking: SEC charges Goldman Sachs with FRAUD!

Goldman Sachs is being charged with fraud in a civil case by SEC (Security and Exchange Commission). Essentially, the SEC is charging Goldman Sachs with creating a basket of toxic assets, selling them to their customers and then begging against the deals. DIRTY! DIRTY! DIRTY!



Paulson & Co. not charged in SEC suit against Goldman
http://www.marketwatch.com/story/paulson-co-not-charged-in-sec-suit-vs-goldman-2010-04-16?dist=countdown

7.9 Million Not Paying Mortgage; Income falls 3.2% during Obama's term

7.9 million Americans are not paying their mortgages, 39.5 million people are living on food stamps, we still haven't seen any real job creation and we're supposed to believe that the economy is recovering? Are these mainstream news people brain dead?

Anyway, I have an announcement to make. Author and webmaster (survivalblog.com) James Wesley Rawles will be joining me on air for my Monday radio show on the Freedomizer Network. It'll be at 6pm ET. So if you have any questions that you want me to ask him, let me know.