Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

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How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

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Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

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Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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true finns timo soini

“We won’t allow Finnish cows to be milked by other hands,” European Affairs quoted Timo Soini, the leader of True Finns, himself a veteran member of both the European and Finnish parliaments — but who runs as an anti-establishment candidate. Tea Party-like politics may be arriving in Europe. That is how some European political analysts [...]

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icesave protest

“These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks,” Iceland President Olafur Grimsson told Bloomberg Television. Iceland is free. And it will remain so, so long as her people wish to remain autonomous of the [...]

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sarkozy headache

““We want regulation of primary commodity financial markets,” Sarkozy said in a speech in Paris overnight. “How can you explain that we regulate money markets and not commodities?” Without action, he warned “we run the risk of food riots in the poorest countries and a very unfavourable effect on global economic growth” — Sarkozy French [...]

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british economy pounded

“This is obviously very worrying, just at a time before the VAT increase hits so this looks awfully like the UK is headed back to double-dip,” Blanchflower told CNBC. “I think people have underestimated the sheer size of this shock,” he said. Britain’s “awful” gross domestic product figure for the fourth quarter is pushing the [...]

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portugal buy now wont pay

“at 6.72 percent the cost of borrowing remains high, and with bonds being traded at nearly 7 percent in the secondary market there is little sign investors are convinced Portugal can avoid following Greece and Ireland and asking for a bailout.” — Nia Williams and William James, Reuters (1) Portugal faces a struggle to persuade [...]

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immigration fence greece

“Greece cannot take it any more. These are tough times for us. Our economy is in recession. We have unemployment and serious problems. Greece cannot become the promised land for those who want to leave their countries and come to Europe.” Greek Citizen Protection Minister Christos Papoutsis told lawmakers in Athens on Friday. The U.N. [...]

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obama wants retirement accounts

“Hungary, Poland, and three other nations take over citizens’ pension money to make up government budget shortfalls. The article goes on to detail other pension grabs in Bulgaria, Poland, France and Ireland. Obviously, this is a cautionary tale for America. If fiscal austerity becomes a real issue in the U.S. the way that it’s been [...]

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bank bailout ireland

“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]

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austerity for middle class meat market

Outlining the £81bn cuts package, Mr Osborne vowed to restore “sanity to our public finances and stability to our economy”. He told MPs: “Today is the day when Britain steps back from the brink, when we confront the bills from a decade of debt. “It is a hard road, but it leads to a better [...]

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british police go to hell

“Up to 60,000 police officer jobs could be lost in the next five years as the government seeks to eliminate the national debt, according to research published today.” What are some solutions to this budget crisis? make the existing officers more effective. Stop the theatrics involved in a pulling over a motorist to issue a [...]

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madrid metro strike 2010 june

Madrid mayor Alberto Ruiz Gallardon criticised unions for not living up to a binding agreement to provide at least 50 per cent service. “They do not have the right to do what they are doing to all the people of Madrid. I think we are in an emergency situation now in Madrid,” he told Cadena [...]

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germany debt clock

“The US has heavily criticized German austerity measures in recent days. Now, Germany’s finance minister has fired back, warning against becoming addicted to deficit spending and noting that history has made the country extremely wary of national debt and inflation.” In a culture whose economy is predicated on ‘consumption’, any ‘austerity’ measures can only further [...]

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bernanke cookie monster strangles taxpayer

“Investors should be preparing for a financial “cliff-edge” as the Eurozone and the US prepare for “monster” money printing exercises, according to RBS.” –MM In a note to investors last week, RBS head of European rates strategy Andrew Roberts tells investors to move to government bonds and gold in preparation for a second global dip. [...]

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world dictators

“Mr Monks, now head of the European TUC, said: ‘I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and his message was blunt: “Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know [...]

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