[Green Shoots in the Economy?]

by S.R. Shearer
August 22, 2009

"Think of the press as a great keyboard on which the government can play "

"If you tell a lie big enough and keep repeating it, people will eventually come to believe it "

"The truth is the mortal enemy of the lie, and thus by extension, truth is the greatest enemy of the State ..."

- Dr. Joseph Goebbles.
Minister for Propaganda
Hitler's Third Reich


The Truth: It's a shell game
to the elite press.

In April of 1999 I wrote an article entitled "The Corporate State and the Mass Media" in which I asserted that the main function of today's elite press is to present a lie as the truth; to depict that which is false as factual! - AND THAT IS CERTAINLY WHAT THE ELITE MEDIA IS DOING TODAY REGARDING ITS REPORTING ON THE ECONOMIC CRISIS THAT HAS TAKEN HOLD OF THE COUNTRY.

It seems that everywhere one turns the media is trumpeting the end of America's (and the world's) financial crisis - and making sure that the American public is overwhelmed with pictures, rigged statistics, polls that have been manipulated and misleading anecdotal information to that affect. What the elite media is attempting to do is "shape the truth" regarding America's financial crisis in order to tamp down a rising tide of discontent on the part of average Americans against the mavens of Wall Street and Corporate America - an attempt to portray "up as down," "black as white," and "right as left" - AND MILLIONS OF AMERICANS ARE BEGINNING TO WAKE UP TO THIS FACT!

For example, in early summer of this year Ben Bernanke, chairman of the Federal Reserve Board, told 60 Minutes that he detected "green shoots" of economic recovery in the economy. Commenting on this, economist Daniel Gross writes that -

"Since then, the phrase 'green shoots' has sprouted and blossomed. Analysts and journalists, desperate for any sign of hope, have taken to repeating the phrase 'green shoots' as a soothing mantra. Economists are now walking around, eyes fixed on the ground like French rustics hunting for truffles, searching for verdant signs of growth."

Today's "green shoots" will become tomorrow's scorched crops

However, Gross goes on to say that the "green shoots" that are being detected by the economists of Corporate America and purveyed to average Americans as "signs of a recovery" are nothing more than the illusory and very temporary affect of the trillions of dollars of "unreal money" that has been pumped into the economy in recent months by the government. He believes that these "green shoots" will wither and dry once the scorching heat of the financial crisis reaches its zenith. Gross continues:

"Economic theory tells us we should be able to detect some green shoots, if only because so much fertilizer has been spread around in the form of cheap capital. But for now, every piece of good news-every green shoot-bears caveats. For example, while Goldman Sachs had a great quarter, that was only because it shifted its reporting calendar to exclude December 2008, in which it rang up a loss, from the results. JPMorgan's Jamie Dimon said things were going so well it might be able to repay the funds it borrowed from the government sooner rather than later, but he also warned that credit card debt is going bad."


The kind of deception being practiced above is being repeated throughout the economy. For example, take the new unemployment rate that is being trumpeted by the government and the mass media as a "sign of recovery" - a drop of one-tenth of one percent from 9.5 % to 9.4%; but ask yourself, how can that possible be when the economy suffered an additional NET loss of almost 400,000 jobs last month? It happened because the government does not count those who have exhausted their unemployment benefits - which is occurring now at an ever increasing tempo. THIS IS JUST ONE EXAMPLE OF THE CALLOUS WAY THE GOVERNMENT HAS BEEN RIGGING THE STATISTICS REGARDING THE ECONOMIC CRISIS - in this case, the unemployment numbers. [Please see our banner article, "A Permanent 30% Unemployment Rate for the United States."]

Then there is the way the government is insisting that the "housing crisis" is ending - and all this despite the fact that foreclosure activity jumped 7 percent in July from June and 32 percent from a year earlier as one in every 355 households with a loan got a foreclosure filing according to RealtyTrac. [Please see our banner article, "The Housing Crash."]

Indeed, James J. Saccacio, RealtyTrac's chief executive, said in a statement:

"July marks the third time in the last five months where we've seen a new record set for foreclosure activity."

The report that the government touts to show that the "housing crisis" is stabilizing is Michigan's, where foreclosure activity fell 39% from June to July - BUT THAT'S ONLY BECAUSE A STATE LAW HAS TAKEN EFFECT THAT FREEZES FORECLOSURE PROCEEDINGS AN EXTRA 90 DAYS.

California, Florida, Arizona Nevada, Texas, Georgia, Ohio and New Jersey are all experiencing massive increases in home foreclosures - with Nevada showing one out of every 56 homes in foreclosure.


And it's not just one economic crisis that America is facing, but a multiplicity of them; Economist Andrew Marshall writes:

"The crisis is not simply composed of one bubble, the housing real estate bubble, which has already burst; the crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Indicators show that the next possible burst is the commercial real estate bubble."

Marshall goes on to report on what's happening in the commercial property market:

"In late July, the Financial Times reported that two of America's biggest banks, Morgan Stanley and Wells Fargo ... threw into sharp relief the mounting woes of the US commercial property market when they reported large losses and surging bad loans in the commercial property market, worth $6.7 trillion which accounts for more than 10 per cent of US gross domestic product."

Marshall continues:

"Office vacancies in U.S. downtowns increased to 12.5 percent in the first quarter ... as companies cut jobs and new buildings came onto the market. It is reported that strip malls, neighborhood centers and regional malls are losing stores ... As for retailers, it's only going to get worse. General Growth Properties Inc, the second-largest U.S. mall owner, recently declared bankruptcy in the biggest real estate failure in U.S. history."


However, what really worries Marshall is the looming "bailout bubble;" he warns:

"The main event on the horizon is the "bailout bubble" and the general world debt bubble, WHICH WILL PLUNGE THE WORLD INTO A GREAT DEPRESSION THE LIKES OF WHICH HAVE NEVER BEFORE BEEN SEEN."

The rich don't even see the poor; to them, the poor - black and white alike - don't even exist

Marshall goes on to say:

"While the bailout, or the 'stimulus package' as it is often referred to, is getting good coverage in terms of being portrayed as having revived the economy and is leading the way to the light at the end of the tunnel, key factors are again misrepresented in this situation. At the end of March, Bloomberg reported that, 'The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year'. This amount 'works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation's gross domestic product was $14.2 trillion in 2008."


Needless to say, what all this "funny-money" has produced is a giant bubble that is too large for the U.S. economy to sustain. Sooner or later, it is going to burst; and when it does, there will be no way of hiding what's happening from the American people - AND ALL HELL WILL BREAK LOOSE, producing in its wake A REVOLUTION THAT WILL "CHANGE TIMES AND LAWS ..." (Daniel 7:25) - i.e. the U.S. Constitution.


And it's not just Marshall who sees bloodshed on the horizon: Gerald Celente, the head of the Trends Research Institute, the major trend-forecasting agency in the world has recently released a Trend Alert, reporting that, "The biggest financial bubble in history is being inflated in plain sight," and that -

"THIS IS THE MOTHER OF ALL BUBBLES, and when it explodes [...] it will signal the end to the boom/bust cycle that has characterized economic activity throughout the developed world. This is going to be much bigger than the ... Real Estate [residential and commercial] bubbles which [recently] hit speculators, investors and financiers ... When the 'Bailout Bubble' explodes, the system goes with it."

Celente continues:

"The phantom dollars, printed out of thin air, backed by nothing ... and producing next to nothing ... defines the 'Bailout Bubble'. Just as with the other bubbles, so too will this one burst. But unlike [the residential and commercial] real estate bubbles, when the "Bailout Bubble" pops, neither the President nor the Federal Reserve will have the fiscal fixes or monetary policies available to inflate another."


Celente then goes on to say something truly remarkable:

"GIVEN THE PATTERN OF GOVERNMENTS TO PARLAY EGREGIOUS FAILURES INTO MEGA-FAILURES, THE CLASSIC TREND THEY FOLLOW, WHEN ALL ELSE FAILS, IS TO TAKE THEIR NATION TO WAR, and that, while we cannot pinpoint precisely when the 'Bailout Bubble' will burst, we are certain it will. When it [i.e., the bailout bubble] ... breaks, IT SHOULD BE UNDERSTOOD THAT A MAJOR WAR WILL FOLLOW."

Interestingly, the "bailout bubble" that Celente was referring to amounted at the time to $12.8 trillion. As of July, estimates by Bloomberg put this bubble at nearly double the previous estimate.


And Europeans are in even greater trouble. In October of 2008, Germany and France led a European Union bailout of $1.5 trillion, and world markets initially soared as European governments pumped these billions into crippled banks. Individual central banks in Europe also mounted a new offensive to restart lending by supplying unlimited amounts of dollars to commercial banks in a joint operation.

NOTE: It is also reported that American bailout money constituted a large part of the European bailout funds, with an inordinate amounts of cash being pumped into the French bank Societe Generale and Calyon; other banks receiving American money were Deutsche Bank, Britain's Barclays, the Dutch banking group Rabobank, HSBC, Banco Santander and Royal Bank of Scotland.

However, this only constitutes a tiny fraction of the money that European banks will ultimately need: In early February of 2009, Britain's Telegraph published a story saying that European banks needed an additional $25 trillion.


Britain's Financial Times goes on to report that -

"Europe is now in the middle of a perfect storm - a confluence of three separate, but interconnected economic crises which threaten far greater devastation than Britain or America have suffered from the credit crunch:

  • The collapse of German industry and employment.
  • The impending bankruptcy of Central European homeowners and businesses.
  • The threat of government debt defaults from loss of monetary control by the Irish Republic, Greece and Portugal, for instance on the eurozone periphery."

The report continues:

"If the crisis expands, other EU governments - and especially Germany's - will face an existential question. Do they commit hundreds of billions of euros to guarantee the debts of fellow EU countries? Or do they allow government defaults and devaluations that may ultimately break up the single currency and further cripple German industry, as well as the country's domestic banks?"


In late June, the Bank for International Settlements (BIS), one of the central pillars of the American New World Order System, warned that the American and European "stimulus packages may provide no more than a temporary boost to growth, and be followed by an extended period of economic stagnation."

The BIS building in
Basel, Switzerland.

NOTE: The BIS is one of the most obscure arms of the Bretton-Woods International Financial architecture which forms the financial edifice upon which the American New World Order has been erected. It provides "banking services" to the world's central banks and to other international organizations like itself. Ostensibly, it is not accountable to any national government and is supposedly run by an "inner elite" representing the world's major central banks. In reality, however, it is nothing more than an arm of the International Monetary Fund which is dominated by the United States. Its principle use insofar as the IMF is concerned is to draw national governments into debt to the IMF, reducing them in the process to U.S. client-states. [We URGE you to read our article, "Inside the American New World Order System."]

The BIS report went on to say:

"The current market turmoil is without precedent in the postwar period ... Fears are building that the global economy might be at some kind of tipping point, and that all central banks have done [with their stimulus packages] has been to put off the day of reckoning."

In late June of 2009, the BIS issued another report saying that as a result of stimulus packages, it has only seen "limited progress" and that, "the prospects for growth are at risk," and further "stimulus measures won't be able to gain traction, and may only lead to a temporary pickup in growth." Ultimately, "A FLEETING RECOVERY COULD WELL MAKE MATTERS WORSE."

Marshall warns:

"Given the previous BIS warnings of a Great Depression, the stimulus packages around the world have simply delayed the coming depression, and by adding significant numbers to the massive debt bubbles of the world's nations, will ultimately make the depression worse than had governments not injected massive amounts of money into the economy."

And Marshall is right here! - The massive amount of "funny-money" that has been injected into the economies of Europe and America has left THEM SITTING UNDER A $50 TRILLION BAILOUT BUBBLE THAT IS WAITING TO BURST - and all the "jive talk" in the world can't stop it.

Marshall warns that when the "bail-out bubble" finally bursts,

"... the world will enter into the Greatest Depression in world history."

I urge you all to take advantage of the time you have left! [Please see our article, "He Is Near, at the Door: Here Comes Antichrist."]


God bless you all,

S.R. Shearer,
Antipas Ministries

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