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"Strained political conditions abroad following the war were also viewed as a negative factor for the u.s. economy. The actions of "conscienceless" short sellers or bear raiders were considered negative influences on the market, as were the effects of tax-loss selling for income tax purposes. There is some evidence that investors in 1921 had learned not to be influenced by exaggerated claims and inflated schemes." - Brian Fagan, Floods, Famines, and Emperors: El Nino and the Fate of Civilizations (Get the book.) "This peak occurred as the aftermath of a doubling of real earnings within five years, following the U.S. economy's emergence from the depression of the 1890s.9 The 1901 peak in the price-earnings ratio occurred after a sudden spike in the ratio, which took place between July 1900 and June 1901, an increase of 43% within eleven months. A turn-of-the-century optimism, associated with expansion talk about a prosperous and high-tech future, appeared." - Brian Fagan, Floods, Famines, and Emperors: El Nino and the Fate of Civilizations (Get the book.)

"FDA thus regulates 10% of the entire u.s. economy.71 Since the mid-1990s a steady stream of FDA scientists have fled the agency's Center for Drug Evaluation and Research when their consciences could no longer condone FDA approval of unsafe drugs. Without exception, each one has explained to Congress and the media that FDA is beholden to the drug industry, that FDA views the industry as its client, and that FDA does the industry's bidding by approving drugs as safe when the evidence reveals them to be unsafe (even to point of condoning death and serious injury)." - Jonathan W. Emord, The Rise of Tyranny (Get the book.)

"Just as the u.s. economy is now thought to be too indebted to fail, has the U.S. military become too big to fail? STAGE ONE OF A PUBLIC SPECTACLE—LIES The answer lies in the nature of mass delusions. Like all public spectacles, the delusion of empire has its roots in a deception. In this case, it is the belief that America is virtuous above all other nations. Rainbow Warriors: The Chosin People "I never sleep well on warships," begins one column we read recently.4 From the very first line, we are thrown off stride. Our head tilts to the left. What is New York Times opinion-monger Thomas L." - William Bonner, Lila Rajiva, Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series) (Get the book.)

"Like force-feeding a duck to make foie gras, the Greenspan-led Fed appeared determined to stuff the u.s. economy with enough borrowed money to ensure that something of value was created—even if in the end it killed the bird. In addition, the upbeat mood of the 1980s and the heady, go-go days of the 1990s convinced many Americans that circumstances would invariably get better, no matter what hiccups came up along the way. The United States had not seen a bone jarring, consumer-led recession for 15 years, and one could argue that the optimism was justified." - Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.) "Until mid-2006, in fact, the u.s. economy was generally viewed as being in a Goldilocks state. Unfortunately, many observers made the classic miscalculation: they assumed that the disparate pluses and minuses added up to some sort of healthy middle. This is a perspective akin to that of an adventurer wading complacently across an unfamiliar river with an "average" depth of 4 feet—and hidden trenches 20 feet deep. Everywhere you looked, ominous signs belied the upbeat reports and sustainability of the post-2001 recovery." - Michael J. Panzner, Financial Armageddon: Protecting Your Future from Four Impending Catastrophes (Get the book.)

"We're being taken on a ride, and this ride ends in the downfall of the u.s. economy, as well as the capabilities of its workforce. At least the Roman Empire only poisoned its own population by accident (their famous aqueducts used lead pipes, which slowly poisoned the population). Here in the United States today, we are doing it on purpose! In fact, we're seeing the early signs of it already: the offshoring, the manufacturing base leaving this country, and the lack of mental stability in our peers who are taking too many prescription drugs that impair mental functions." - Mike Adams, Natural Health Solutions (Get the book.)

"During that time, the Chinese economy strengthened dramatically compared to the u.s. economy. If China's currency had floated freely against the dollar, the yuan would have risen —a dollar would buy 6 or 7 yuan instead of the 8.28 it purchased for more than a decade. So Chinese goods remained cheap for American consumers—too cheap, in the eyes of American manufacturers. Under pressure from the U.S. government, China revalued the yuan in July 2005, but maintained a peg, tying the yuan to the dollar, yen, and euro." - Alex Steffen, Worldchanging: A User's Guide for the 21st Century (Get the book.)

"S. economy is based upon the very foods we were telling people to eat less of—corn, wheat, soy, and sugar, for example. But I digress. WANTED: A NEW MODEL FOR HEALING The conventional medical model of disease is what scientists call a paradigm— a way of looking at illness. And that way of looking at illness and of healing is short-sighted. It's not wrong, it's just incomplete." - Jonny Bowden, Ph.D., C.N.S., The Most Effective Natural Cures on Earth: The Surprising, Unbiased Truth about What Treatments Work and Why (Get the book.)

"In one of the richest, most well-fed nations of the world, more than 25 million Americans are living with the crippling effects of osteoporosis at a cost of about $14 billion each year to the u.s. economy. At least 1.2 million fractures occur each year in the United States as a direct result of osteoporosis.9 I have actually seen patients fracture hips as they simply walked into my office, without any kind of fall or injury. Spontaneous compression fractures of the vertebrae and of the back cause tremendous pain and suffering in my patients with osteoporosis." - Ray D. Strand, What Your Doctor Doesn't Know About Nutritional Medicine May Be Killing You (Get the book.)

"The strength of the u.s. economy, and the global influence that comes with it, has always been rooted in its enormous three-hundred-million-people-strong home market. Today, Europe presents a market of twenty-seven countries that is significantly larger, both in population and in wealth. Likewise, its export trade has long powered U.S. influence; however, in 2005, according to the CIA's World Factbook, Germany overtook the United States as the world's biggest exporter." - Mark Schapiro, Exposed: The Toxic Chemistry of Everyday Products and What's at Stake for American Power (Get the book.)

"Increasingly the u.s. economy is based on diversions and anesthetizations. In the 1950s, just as a mainstream candidate for the U.S. presidency could be concerned over our becoming robots, a seminal figure in the mental health profession could be concerned over our increasing anesthetization." - Bruce E. Levine, Surviving America's Depression Epidemic: How to Find Morale, Energy, and Community in a World Gone Crazy (Get the book.)

"Those who believe in the perfection of man were greatly encouraged after 2002: Paul Volcker had already proved that the Fed had mastered the art of taming inflation, and now the Greenspan Fed had learned how to avoid deflation, too. The u.s. economy was impregnable—a citadel of growth that would expand forever and ever, amen. As the skeptics pointed out, however, an increase in firepower doesn't make war a thing of the past; it just makes it more costly." - William Bonner, Lila Rajiva, Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series) (Get the book.)

"Despite Laffer's curve, Greenspan's Bubbles and Reagan's revolution, the u.s. economy has done no better than Europe. The Economist examined the evidence. Everybody believes that America grew a lot faster than Europe over the past 10 years. But the figures, in terms of GDP/person are very close?.1 percent per year for America against 1.8 percent for Europe. Take out Germany—which has struggled with absorbing its formerly communist cousins from the East—and the two regions are exactly the same. And productivity?" - William Bonner, Addison Wiggin, Empire of Debt: The Rise of an Epic Financial Crisis (Get the book.)

"But the u.s. economy is not an airplane. It is far too complex. And in one critical respect, it is unlike any machine ever made: It anticipates the pilot's moves—and resists them. "Tell me why—why do fools fall in love ..." Well, that's the way markets work, too. Waves of bullishness rise up between troughs of despair ... and crash into the rocky shoreline. No matter how high the waves, nor how low the tide might ebb, sooner or later stock prices regress to sea level; the memory of man runneth not to the contrary." - William Bonner, Lila Rajiva, Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series) (Get the book.)

"Without Chinese support, the dollar would have already collapsed, bond yields would have soared, and the u.s. economy would be in a recession, if not a depression. Where does the money come from? The Chinese get the dead presidents from selling products to live Americans, who seem ready to consume anything that comes their way. First, the dollars come rolling off U.S. printing presses, then they make their way into the hands of Chinese and other manufacturers, and finally, they are returned to their birthplace as loans." - William Bonner, Addison Wiggin, Empire of Debt: The Rise of an Epic Financial Crisis (Get the book.) "They have enough T-bonds to destroy the u.s. economy on a whim. Their economic power is growing at three to five times the GDP rate of Western nations. So far, they have shown little interest in political power; that is for a later stage of the cycle, another role for another time. None of these insights are new or original. Most Americans have heard these things. Longtime readers of our "Daily Reckoning" newsletter (www.dailyreckoning.com) have heard them so often they look for exits when they see your authors coming." - William Bonner, Addison Wiggin, Empire of Debt: The Rise of an Epic Financial Crisis (Get the book.) "This will send the u.s. economy into recession . . . probably a long, soft slump that will take down house prices and the stock market, but leave the dollar and bonds with little damage. Long suffering readers will find this forecast familiar. It is the same one we made two years ago in another book with Addison Wiggin called Financial Reckoning Day (John Wiley, 2003). We thought then that the tech bubble would blow up, resulting in a long, soft slow slump, a la Japan. Whether we were wrong, or just early, only tomorrow's newspapers will tell." - William Bonner, Addison Wiggin, Empire of Debt: The Rise of an Epic Financial Crisis (Get the book.)

"American consumer, the u.s. economy, and the whole world economy. But don't worry, said Mr. Greenspan: "It would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity."1 But, if the rise in prices had been unusual, why wouldn't the fall be, too? And we love this: "Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities." Translation: Subprime borrowers can now get all the credit they want." - William Bonner, Lila Rajiva, Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics (Agora Series) (Get the book.)

"S. economy $132 billion per year. • Fact: Diabetes, from a pharmaceutical's point of view, is TOO PROFITABLE TO CURE. Made to Feel Like a Victim Allegorically, recent improvements in health care brought to you by the pharmaceutical corporations, are about as useful as a bandage on a slashed throat. In fact, older diabetics might consider the pharmaceuticals to be the ones wielding the knife rather than applying the bandage. As a diabetic who complains about the disease or the treatment, I have had several doctors offer me this insightful cliche: "Aren't you glad you have insulin." - Brent Hoadley, Ph.D., Too Profitable to Cure (Get the book.)

"No politician wants to tell voters that the American Dream has been canceled for a lack of energy resources. The u.s. economy would disintegrate. So, whichever party is in power has tended to ignore the issue or change the subject, or spin it into the realm of delusion—assisted by agencies such as the U.S. Geological Survey, which serve their masters very well by supplying often inaccurate but reassuring reports. One president in recent times, Jimmy Carter, told the truth to the American public." - James Howard Kunstler, The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century (Get the book.) "Ration stamps were printed but never issued. The u.s. economy suffered a body blow. Because absolutely everything in the industrial economy was either made, transported, or carried on with petroleum products, the price rise alone thundered through the system. Prices of food and manufactured goods shot up. The entire American workforce suffered, in effect, a substantial cut in pay. The stock market dropped 15 percent in a month, and a year later it would be down 45 percent from its pre-embargo high. The U.S. auto industry, the crown jewel of the economy, was devastated." - James Howard Kunstler, The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century (Get the book.)

"America has grown wise to the negative effects of poor diet and obesity, but poor foods and the companies selling them are cemented into both the u.s. economy and the American psyche. The horse has left the barn. Most countries are not this far down the road. If alert to early signs of change, early response may be possible. Among the signs are: þdiminishing activity as a part of work þdiminishing activity in day-to-day life (transportation) þmore time devoted to sedentary activities (television, etc.) þmore opportunities for eating (food in schools, vending machines, restaurants, etc." - Kelly Brownell and Katherine Battle Horgen, Food Fight (Get the book.)

"This torrent of newcomers will find themselves in a rapidly sinking u.s. economy. Many of the jobs they had hoped to find will have evaporated. With the suburban housing industry crippled, there will be no need for more sheet-rockers. The better-off Anglo population will be losing their jobs, too, and they will not have the cash to employ so many Mexican maids and gardeners. Those who had lawns may be unable to continue watering them. The water supply situation in the Southwest is likely to become only more critical." - James Howard Kunstler, The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century (Get the book.)

"The boom that powered the u.s. economy after the Civil War was no bar to instability. The worst financial crisis of the 19th century began in 1873, when heavy speculation in securities and the failure of Jay Cooke's banking house toppled business after business, forced the NYSE to close for 10 days, and triggered a six-year depression. In 1893, a series of railroad bankruptcies caused hundreds of banks to fail, thousands of companies to shut down, and widespread unemployment to persist for the next four years." - The New York Times, The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind (Get the book.)

"CHAPTER 7—1982 Fraudulent Safety Tests Deceive the American Peeple While the top mainstream news story of 1982 dealt with the u.s. economy, it still ignored the basic causes for the crisis, cited as the top Censored story of 1981. According to the Associated Press, the top ten news stories of the year were: 1. The U.S. economy 2. Seven die from cyanide-laced extra-strength Tylenol 3. War in the Falklands 4. The death of Leonid Brezhnev 5. Israel invades Lebanon 6. John Hinckley, Jr. found innocent of Reagan assassination attempt by reason of insanity 7." - Carl Jensen, 20 Years of Censored News (Get the book.)

"In the u.s. economy, the consumption sector of G.D.P. is by far the largest, followed by government and gross investment (which are similar in magnitude), and net exports, which have been negative in recent years. National Income The output side of the national income accounts, as measured by G.D.P., is matched by an income side. All output flows result in costs and profits, and outputs will be equal to incomes because of the balancing effect of profits (which can be positive or negative). There are two primary measures of this income?national income (N.I.) and disposable income (D.I.). N.I." - The New York Times, The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind (Get the book.) "World War II helped to salvage the u.s. economy. All of the major corporations had mobilized to fight the war, and productivity soared. Unemployment declined dramatically and tens of millions of American workers were earning more money than ever before. Wartime restrictions, however, made consumer goods scarce or nonexistent (no new cars, for example, were built in 1942-46). When the war was won, the combination of the capacity and the pent-up demand produced the biggest boom ever." - The New York Times, The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind (Get the book.) "The legacy of the Spanish eight-bit silver coin remained part of the u.s. economy for more than 300 years. Stocks on the New York Stock Exchange traded in halves, quarters, and eighths of dollars until 2000, when the NYSE shifted from fractional prices to decimal trading, thus erasing this vestige of the colonial Spanish eight-bit silver coin upon which the U.S. dollar was originally based. American Revolution As other wars had done, the American Revolution created a great need for fast money." - The New York Times, The New York Times Guide to Essential Knowledge: A Desk Reference for the Curious Mind (Get the book.)

"If the Saudi oil infrastructure were crippled, the global economy would stagger, with the u.s. economy leading the way off an economic cliff. Normality, as it has been understood in the United States for a long time, would end very quickly. Many Arabians regard oil as a curse. They have lived with this bonanza a little more than half a century. It has turned their lives upside down and inside out and has devastated their traditional culture." - James Howard Kunstler, The Long Emergency: Surviving the End of Oil, Climate Change, and Other Converging Catastrophes of the Twenty-First Century (Get the book.)

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