Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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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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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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zimbabwean hoardes loads of cash for food

“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 economic indigenisation regulations. “Zimbabwe has no elected government. The coalition government has failed to implement the global [...]

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spanish matador irael lancho gored

“Europe’s top job-creator only two years ago, Spain now has the region’s highest unemployment rate, at just over 20 percent, and is the slowest of the major economies to emerge from the global recession. Meanwhile, the ratings agency dealt a blow to state efforts to shore up confidence in its finances by cutting the country’s [...]

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miami bankruptcy women beach

“We [Miami] are not the only city, municipality to be going through this. It looks like Los Angeles sometime next week or the week after will be going bankrupt. It looks like there will be 30 more cities following suit.” New Jersey Governor Chris Christie said the state is “careening our way toward becoming Greece” [...]

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venezuela's chavez is elite puppet

“That’s an incredible surge,” Adrian Aguirre, an economist at Caracas-based Bancaribe SA, said in a telephone interview. “The fact that food prices rose by more than 11 percent is something we’ve never seen in the last decade.” Consumer prices rose 5.2 percent in April from March, according to the central bank’s benchmark Caracas price index, [...]

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north korea euro dollar haven

“People have looked at Greece over the last three to four months and now they’re focusing their attention on Spain and its banking sector,” said Aroop Chatterjee. Tensions on the Korea peninsula also buoyed the dollar and yen after South Korea’s Yonhap news agency said North Korean leader Kim Jong-il had told his troops to [...]

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south korea dmz security 24 may 10

“We have always tolerated North Korea’s brutality, time and again,” Mr. Lee said. “But now things are different. North Korea will pay a price corresponding to its provocative acts. Trade and exchanges between South and North Korea will be suspended.” — South Korean President Lee The the war industry most be salivating for the sight [...]

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central bank report card 2009

“”I’m very concerned we’re headed down the same path as Greece,” Rep. Cathy McMorris Rodgers, R-Wash., told Fox News. “Greece found itself in a situation where its public debt was 113 percent of its GDP. They had taken on all this debt, expanded programs and America is headed down the same path.” — Cathy McMorris [...]

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chinese worker holding guns

“The U.S. Department of Commerce said yesterday that it has set preliminary anti-dumping duties on refined Chinese and Mexican copper pipe worth hundreds of millions of U.S. dollars.” You cannot create a country’s “middle-class” by “big” socialist government civil servants sustain by low wage earners heavily taxed using their beer wages to create middle-class civil [...]

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spanish bull and cranes

“A rumor that Spain will ask for 280 billion euros of aid money in order to deal with its debt is running in the past few hours in trade rooms. This is what’s bringing down the Euro.” It appears that bailing out Greece wil not be enough to save the European community as Spain is [...]

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greeks riot in 2008

“Papaconstantinou confirmed Sunday that the government would tighten its belt significantly, despite the protests. “The expenses of the public sector will go down very considerably,” he said. Prime Minister George Papandreou earlier Sunday tried to rally the country behind the government. “We will do everything possible. We are planning very serious changes,” Papandreou said Sunday [...]

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china exponential growth on the back of US dollar

“China is “on a treadmill to hell” because it’s hooked on property development for driving growth, Chanos said in an interview last month. As much as 60 percent of the country’s gross domestic product relies on construction, he said. Rogoff said in February a debt-fueled bubble in China may trigger a regional recession within a [...]

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ambassador bridge windsor detroit crossing

“Baird called that vote “an incredible, incredible, important development.” “This is the most important infrastructure project across Canada today and is one of the most important in our history to enhance trade with our closest neighbour,” he told a news conference. What you won’t likely hear is that the “bribe” really appears to be a [...]

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pakistani currency trading hands

“The ratings agency Standard and Poor’s has given Pakistan’s sovereign debt a grade of CCC +, which stands only a few notches above the default level. The agency gave warning that Pakistan may be unable to cover about $3 billion in upcoming debt payments.” This is not the first time, and indeed probably not the [...]

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green weeds and pesticide recession depression

“No laws are more basic than the laws of arithmetic: For fiscal sustainability, whatever level of spending is chosen, revenues must be sufficient to sustain that spending in the long run,” Bernanke told the commission, which was established by Obama in February to give recommendations on ways of balancing the federal budget.” Washington needs to [...]

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