• Submitted by: manso
• International
• 10 / 23 / 2010

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2010.10.22 - 09:29:23 / [email protected]. Mr. Ben Bernanke, President of the US Federal Reserve has no doubt when he says that for now the first world economy requires new financial injections to save the crisis which has extended more than expected.

In fact, his affirmations and the distrust among those that follow the stock exchange, accustomed to risky methods has been strongly driving for the value of gold which has marked at least 7 historic records in recent days, turning the metal into a safe refuge in face of the changes in the international monetary patterns and the dollars, in the first place.

But the truth is, that the US economy does not advance, survive and barely breathes and with all the promises of the Federal Reserve and its followers, there are few economists that barely see a way out, at least honorably, to such a difficult situation.

The unemployment rate remains at about 10 per cent of the US economically active population, while the news agencies last month announced that the national poverty rate increased to a 14.3 percent in 2009, from a 13.2 percent in 2008, “taking the percentage of the people that cannot satisfy their basic needs to the highest since 1994.”

This implies that 43.6 million people in the US lived in poverty last year, above the 39.8 million in 2008, all due to the economic stagnation.

The most recent revelations confirms is all. Official data recently explains that the US fiscal deficit is at 1.3 billion dollars for 2010.

The figure means that the government should have taken as a loan 37 cents of each dollar that it has spend while the amount of tax collection reduced.

Many asked themselves what happened.  It’s simply: the US economy was never capable of solving the causes of the financial, real estate and credit crisis that exploded about two years ago.

The largest amount of spending, superior to 800 billion dollars, programmed by the White House to save the system at the time, were not accompanied by restrictive measures of the banks and stock exchange speculation.  The “pillars” of the entangled system could not be touched.

The multimillionaire figures only reanimated the roulette of the powerful and those returned to their alarming pleasures.

On the other hand, the waste of money in the lost but insistent wars in Iraq and Afghanistan constitute another source of money used from the public treasure to thousands of “security” firms, constructions and the arms industry, involved in the empire’s anti terrorist adventures.

Meanwhile, for the normal American, the issue is similar to that of months ago.  The population is living in insecurity and unsure of what will happen in the near future.

Source: ACN