US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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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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empty shopping cart retail slump

“The reason that consumers are not spending more money has nothing to do with attitudes. The reason that most consumers aren’t spending is the same reason that homeless people aren’t spending much money: They don’t have any money.” — Dean Barker, Counterpunch Credit cards are the bane of Western society’s existence. Perhaps they are a [...]

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harper snake oil salesman canada bankrupt

“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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depression headlines

“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 [...]

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grand isle lousianna tourist empty

“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 [...]

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rusty old factory detroit

“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 [...]

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mortage is death contract

“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 [...]

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bales of money union workers get over private sector

“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 [...]

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henry paulson goldman sachs executive

“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 [...]

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greedy edward jones financial advisor

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 [...]

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government motors bailout tarp funds fake repayment

“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 [...]

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lost youth will blog for food holding signs

“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 [...]

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economist at street sign is unsure of recession

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 [...]

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american dream is over protestor holding sign

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 [...]

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imf world bank many poor banner

“”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. [...]

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