“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 Conservative cabinet ministers flying around the world defending banks from a tax to cover their [...]
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“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 devaluing it (printing more than it’s worth) and [...]
“Carolyn Angelette said around 100 clients have canceled summer rentals in Grand Isle, LA. Other clients have postponed plans to buy a home until they see the full extent of oil damage. At this rate, she warns, her Century 21 office will go out of business.” It is obvious BP will be in litigation for [...]
“When asked whether the hirings are a gamble based on the state of the economy, Marchionne smiled and said: “Don’t be so skeptical. It’s a good day. Enjoy it.” — Fiat Head Chrysler Group LLC gave a big boost to the battered Michigan economy Friday when it announced plans to add about 1,100 workers to [...]
“The Bank of Montreal has been hit by a huge mortgage fraud in Alberta that may cost it $30 million, a report said. The bank is suing hundreds of people in connection with the scam, including lawyers, mortgage brokers and four of its employees, CBC News said, citing legal documents.” The case may be the [...]
“With the federal deficit and national debt heading into the stratosphere, taxpayers can no longer afford to support such lucrative government compensation. Public sector pay and benefits at all levels should be reduced to make it comparable to the wages and benefits earned by the average working taxpayer.” It wouldn’t be too hard to fathom [...]
“Goldman Sachs are scum– that’s the bottom line. They have basically co-opted the government; they’ve co-opted the Treasury Department; the Federal Reserve functionality; they’ve co-opted the Obama administration. Barack Obama dances to Goldman Sachs tune.” — Max Keiser Just remember, Hank Paulson [former CEO of Goldman Sachs then Secretary Treasury USA] took Congress hostage– took [...]
Financial advisors are the clowns who are making huge profits off of your money no matter which way the market goes. A very small percentage of these “professionals” could not even predict the crash which happened (it was easy to see coming because of de-industrialization). Now they are pushing for investors to throw more into [...]
“Treasury has merely exchanged a legal right to repayment for an uncertain hope of sharing in the future growth of GM, Grassley wrote. A debt-for-equity swap is not a repayment … In a hearing Tuesday before the Senate Finance Committee, TARP overseer Neil Barofsky confirmed that GM was using Treasury funds to make the loan [...]
“spells of unemployment while young often create permanent scars through its harmful effects on a number of outcomes — happiness, job satisfaction, wages and health — many years later. Moreover, spells of unemployment tend to be particularly harmful to the individual — and to society — when the most disadvantaged youth become unemployed. This involves [...]
Looking at economics as a discipline, it would be fair to point out some of the issues with what mainstream, government economists are saying. To begin with, no economic model can predict the future. Economists who do try to predict the future are as likely to be right as Helicopter Bernanke. They are a discredit [...]
Our world has changed and most do not realize it. Money, the almighty purveyor of our well-being has absolutely no value unless someone says it does. It used to be tied to gold, a tangible physical element. You could not print more money unless you had gold to back it. However, in 1971, the US [...]
“”The high degree of financial stress and the high degree of uncertainty all weigh against a speedy recovery in job creation,” the Washington Post quoted the IMF as saying.” “Unemployment in industrialized countries will likely remain high this year and next, and central banks should keep interest rates low, the International Monetary Fund said Wednesday. [...]
“Greenspan, as the macro economic parent of the US Fed’s basic approach, is the most easily visible part of the history. He’s not the sole agent, however, of a culture which was basically raised to steal and misrepresent assets” — Paul Wallis This is all so ridiculous! Most of these people grilling Greenspan don’t even [...]
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- Real list of countries on verge of bankruptcy
- Get rid of your mortgage, loans, because interest rates set ...
- BRICs establish their own IMF to counter Western dominance: ...
- Fifteen signs America is falling apart; Citizens start armin...
- Video: the real crash is yet to come: Peter Schiff
- US Dollar begins steady collapse; IMF employee shot
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