Few professionals are yet willing to admit we have been in a depression for the last year. You have to understand the position that economists and analysts are in. They work for corporations, insurance, Wall Street, banking and government and if they thought we were in a depression and they publicly announced that all chances for advancement would be lost or they would be squeezed out of the firm or simply fired. Under such circumstances can you ever expect that you get the truth? We don’t think so. Furthermore the depression we are enveloped in is far from over. The recession encompassed a drop in real GDP in the midst of a credit crisis. The crisis was the result of over-extended credit, prohibitively low interest rates, massive speculation by banks, brokerage houses, insurance companies, and corporations worldwide. It just didn’t happen it was planned that way. We saw that recently in testimony before Congress when CEOs of these financial firms admitted they made a mistake in the process of enriching themselves. The worst sin was the criminal securitization of mortgages and the deliberately criminal mislabeling of their ratings. Then making matters worse those who sold this toxic garbage to their clients such as Goldman Sachs, JP Morgan Chase and Citigroup were shorting the product that they had just sold to their best clients. What kind of monsters are these people? Unethical doesn’t go far enough. It was criminal. These are the same characters, along with the Fed, and others, who gave us the dotcom boom and collapse and then foisted the real estate boom on our economy. The result has been deflating assets and contracting credit offset by massive lending, money and credit creation by the Fed and monetization, all temporary expedient measures, which in the context of history has led to failure. This has been in process for seven years. This second major abuse of our system in 14 years has presented a terrible dilemma and that is where we are today. Our monetary policy hasn’t worked and won’t work and there has been and presently is little fiscal control in Washington. This is no normal recession; it is a depression. Bob Chapman

A lot of people are very upset about the rapidly increasing U.S. national debt these days and they are demanding a solution. What they don't realize is that there simply is not a solution under the current U.S. financial system. It is now mathematically impossible for the U.S. government to pay off the U.S. national debt. You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt. And if they did that, obviously American society would stop functioning because nobody would have any money to buy or sell anything.

In Patrick Henry's immortal "Give Me Liberty Or Give Me Death" speech, he said, "[I]t is natural to man to indulge in the illusions of hope. We are apt to shut our eyes against a painful truth." Never have Henry's words been truer than they are today. For too long, good men have turned a blind eye to the obvious reality that America's Ship of State has swerved significantly off course. In fact, it is no hyperbole to say that America's Ship of State is completely rudderless and, absent a speedy course correction, seems destined to crash against the rocks of oppression and economic ruin in the very near future. For anyone willing to open their eyes, the manifestations of America's almost-certain collision with history are everywhere. America's Liberty Ship is dependent upon the twin mainsails of Morality and Constitutional Government to stay on course. It is an irrefutable and irreversible law that these twin sails are indissolubly linked. We cannot have one without the other. America's founders clearly understood this. - Chuck Baldwin

With so many new and inexperienced credit repair organizations coming onto the scene, many of which are turnkey businesses using third party software to power their service, it becomes a challenge to know which services can be trusted with your credit reports. Here are some tips for identifying a reputable credit repair company.

Texas Congressman Ron Paul has delivered a riveting “State of The Republic” address on his Campaign for Liberty website, orating his thoughts on where the U.S. stands as a nation and what the future holds. Paul warns that if the country continues along the course it is on, we will witness a three stage slide into social and political chaos, beginning with the current financial crisis, a coming dollar crisis, and culminating in mass unrest. “Reality is setting in,” the Congressman urges, adding that the only way to prevent social breakdown is to embrace liberty and self reliance and reject the nanny state and government dependency. “We are rapidly moving toward a dangerous time in our history. Society as we know it is vulnerable to political and social unrest. This impending crisis comes as a consequence of our flawed foreign and domestic economic policies, a silly notion of money, ignorance about central banking, ignoring the onerous power and mischief of out of control intelligence agencies, our unsustainable welfare state and a willingness to sacrifice privacy and civil liberties in an attempt to achieve safety and security from an inept government.” - Steve Watson

Five members of the Supreme Court declared that a “corporation” is a person, not a “regular person” but one above all natural laws, subject to no God, no moral code but one with unlimited power over our lives, a power awarded by judges who seem themselves as grand inquisitors in an meant to hunt down all hertics who fail to serve their god, the god of money. - Gordon Duff

The accumulated weight of Obama's deceit is overwhelming... * During his campaign for the presidency and since, Obama repeatedly assured us that he would protect Medicare against cuts; but he now presses for passage of bills that include savage cuts in Medicare. * To obtain passage of his first stimulus bill, Obama assured us that 90% of the jobs created would be in the private sector; but as he well knew, most of them were to be in the public sector. * Early in the health care debate, Obama assured us that he had not said that he favored a single payer system; but he was on record as having said exactly that. * Obama gave primary voters a firm assurance that if he became the nominee of the Democratic party he would (unlike Hillary Clinton) abide by the campaign finance limits of public funding; but as soon as he became the party's nominee, he reneged on that pledge. * During the presidential campaign Obama criticized the presence of former lobbyists in the Bush administration and solemnly assured us that he would appoint no lobbyists to his administration; but once elected he proceeded to appoint even more lobbyists than his predecessors. * Obama criticized the size of George Bush's deficit and promised to stop deficit spending if elected; but he has already quadrupled the size of the deficit he objected to and recklessly continues new federal spending in the trillions. * When campaigning Obama criticized bills before the congress that were too long for anyone to be able to read and promised to stop that; but the bills he has been backing throughout his first year are infinitely longer (2000+ pages) than the ones he criticized.

In the aftermath of the Massachusetts Senate vote last Tuesday, we now have a concrete fighting chance to block the reappointment of Wall Street puppet Ben Bernanke as the chairman of the Federal Reserve Board of Governors by preventing his Senate confirmation next week. This afternoon, Bernanke’s support was eroding hour by hour. - Webster G. Tarpley