“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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“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 [...]
“The president, unlike the long line of his predecessors since Franklin Roosevelt, simply does not put national security at the centre of his political priorities. Thus, Europeans who welcomed Obama to the Oval Office should reflect on his Warren Harding-like interest in foreign policy.” — M. Bolton, former US Ambassador to the UN. Mr. Bolton’s [...]
““If we tolerate this,” Paul said, “there’s something wrong with us.” He added that the American people deserve to be humiliated and demeaned by the government if they refuse to stand up and resist.” Appearing on the Alex Jones Show today, Texas Congressman Ron Paul expressed his outrage and disgust with the TSA and its [...]
“Inflation came in hotter than expected. Markets were expecting to see a 2.2% increase in headline inflation but it came in at 2.4%. The more important piece of information is what happened to core inflation because I think markets will largely look past the increase in energy prices. The more important issue is that the [...]
“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 [...]
“Mexican tycoon Carlos Slim considered by Forbes the wealthiest man on the world said here that “the global crisis is not over, nothing has been solved, only patches to avoid the worst effects of a great depression”. — BERNAMA MERCOPRESS “The problem is getting worse since countries have accumulated more debt, more deficits and unemployment [...]
“There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart. A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close [...]
“”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, Financial Times contributor. “Well, [...]
“A “grave recession” in the world economy may lie ahead, with a profusion of new barriers to trade and capital flows, if the Group of 20 major economies (G20) fail to come up with solutions to the present crisis. The G20 will probably begin to suffer “progressive fragmentation” at its Nov. 11-12 summit in Seoul, [...]
“Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency’s value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.” — MyWay News The G-20′s failure to adopt the U.S. stand has underlined [...]
“Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.” National debts are not a nation borrowing against its future success. They are a benefit for a current generation to [...]
“Rampant issuance of dollars by the United States is saddling China with “imported inflation”, Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.” Too many people are using credit to subsidize lives eroded by job losses and working lower paying jobs as more of their old jobs/economy went to communist [...]
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