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The number of institutions officially in trouble keeps growing:
Source: FDIC
You have to wonder what people are looking at when they think we are in a recovery. Is it the 40 million Americans now receiving food stamps? Is it the nearly 15 million Americans with no work? The only group that seems to be recovering is the banking sector but that isn’t news. Welcome to the un-recovery.
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30 MILLION PRODUCTIVE JOBS TO REBUILD US INFRASTRUCTURE, INDUSTRY AND AGRICULTURE: THE PROGRAM TO END THE ECONOMIC DEPRESSION
by Webster G. Tarpley, www.tarpley.net
November 14, 2009
The US and the world are gripped by a deepening economic depression. There is no recovery and no automatic business cycle which will revive the economy. This bottomless depression will worsen until policies are reformed. The depression results from deregulated and globalized financial speculation, especially the $1.5 quadrillion world derivatives bubble. The US industrial base has been gutted, and the US standard of living has fallen by almost two thirds over the last four decades. We must reverse this trend of speculation, de-industrialization, and immiseration. Current policy bails out bankers, but harms working people, industrial producers, farmers, and small business. We must defend civil society and democratic institutions from the effects of high unemployment and economic breakdown. We therefore demand:
1. Measures to reduce speculation and minimize the burden of fictitious capital: End all bailouts of banks and financial institutions. Claw back the TARP and other public money given or lent to financiers. Abolish the notion of too big to fail; JP Morgan, Goldman Sachs, Citibank, Wells Fargo and other Wall Street zombie banks are insolvent and must be seized by the FDIC for chapter 7 liquidation, with derivatives eliminated by triage.
. Click Here for more info.pdf. file
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