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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chart gdp depression

“.. people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said. Interest rates are market driven. The Fed is simply following the market in determining rates. The low rates indicate that money demand is very low; it is a sign of a very weak [...]

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Mcdonalds Over Qualified

“For the first time in at least six decades, private sector employment is negative on a 10-year basis (first turned negative in August). Hence, the changes are not merely cyclical or short-term in nature.” An economy can’t survive without manufacturing and right now people are making everything off-shore and then selling it back to us [...]

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housing bubble Bursts

All the news reports from US and Canadian real estate associations touting that the housing “recession has ended” is just about as worthless as the hot air coming out of politicians mouths. Very low interest rates made houses and condos too expensive, especially compared to the price of renting equivalent properties. Logic dictates that this [...]

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quit smoking burning money

The United States will be forced to act against its trade deficit. The U.S. dollar will collapse. We need to consider the possibility that the USA economy is toast. That is – it has hit a zenith in the past and is now in decline and will NEVER come back. In other words this may [...]

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new york poverty

“We’re going to run out of cash in four and a half weeks. We are going to run out of money. Unless we do something about it, (it will) threaten generations,” Paterson said. When facing the consequences of over spending, why do politicians cut police, teachers, hospitals, and firemen? Why not cut bureaucratic paper shufflers, [...]

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global warming hitler

‘It cannot be acceptable that the benefits of success in [the banking] sector are reaped by the few, but the costs of its failure are borne by all of us.’ — British Prime Minister Gordon Brown. It is important that the chartered banks be prevented from entering any financial undertaking that involves significant risks and [...]

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alberta oil production

“According to Statistics Canada, Alberta experienced the largest job losses in the country.” Alberta, for the longest time, was touted as the economic savior and engine, or `the land of milk and honey`of Canada because of its vast tar sand reserves which were being heavily exploited by the rising price of oil around the globe. [...]

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bad commercial real estate loans

“It’s one of the largest losses we have forecasted for an individual loan,” says Steve Kuritz. Dr. David Bronner, CEO of the Alabama Retirement Systems, the 43rd largest investment fund in America, spoke at Rotary Club here yesterday. He is one of the most respected fund controllers in the United States today by his peers. [...]

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unemployment riots around the world

Bernanke on Unemployment: ‘we don’t think it will get to 10 percent’ A better measure of unemployment is the U-6 numbers and this would make the real number around 17.5 per cent. This measurement includes discouraged workers and people who have very short term temporary low-paid jobs. This statistic is consistent with the numbers of [...]

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inflation striking

What went wrong? All of those who grew up during the late sixties and early seventies can probably recollect when people earned on average 1/3 of the net pay (in real value) yet most families could afford to live quite comfortable on a single income They also had more leisure time, subjected to less stress [...]

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enslavement

“This is a real danger sign that we as a society need to do a lot more to protect children,” Rank said. It is very strange on how Mr Rank draws this conclusion. This seems to be an indication that the USA / Canada / Europe already has a program in place that protects children [...]

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Obama Hitler

“That longest and friendliest border in the world is now an invisible Berlin Wall,” Mike Bradley told CBC News regarding the new passport requirements. “They are not playing by the rules” — Dr. Alan Keys Here is some background information on what has transpired in the past five days in the United States and some [...]

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empty factory

‘We are hollowing out our industrial base.’ — Avery Shenfeld, CIBC economist. CIBC calls for loonie intervention ‘Go pick on some other currency,’ CIBC economist Shenfeld says A high-profile Canadian economist has called on the Bank of Canada to use its reserves to defend the Canadian dollar against speculation in extreme cases. In a report [...]

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housing alternative outhouse

When Hong Kong was returned to China by the British, millionaires escaped and heavily invested in real estate in Australia and that was the beginning of the bubble in prices for goods. It never went down and also helped the Japanese build a strong yen against the US dollar. Basically the US government has helped [...]

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