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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Content By: The Coming Depression Editorial Staff (dates cited below)
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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 political agreement in full because of Mugabe. He should move off the stage if the country is to reengage with the international community.” — NZ Independent

AUSTRALIA has taken a tough stance on Zimbabwe, demanding that President Robert Mugabe must “move off the stage” before the international community can bankroll the country’s reconstruction and revival.
This is the first time Australia has publicly stated that it wanted to see the back of Mugabe. The country sees Mugabe as the “major obstacle” to democratic reforms in Zimbabwe.

“As I have said, at some point in the cycle President Mugabe will leave the stage, removing the major obstacle to the reforms that Zimbabwe so desperately needs,” Smith said. “The international community, including Australia, will then be able to fully assist with the difficult task of rebuilding Zimbabwe’s economic social and political fabric.”
He said his government had a responsibility to support Prime Minister Morgan Tsvangirai and ministers from his party in their efforts to bring change to Zimbabwe.

usa riot gear marines hyper inflation martial law

“We have a responsibility to bolster the cause of reform,” said Smith, who met Finance minister Tendai Biti in London on January 28 to discuss ongoing reconstruction efforts in Zimbabwe. “Late last year, Australia decided it would consider opportunities for ministerial engagement on a case-by-case basis with those Zimbabwean ministers making a genuine contribution to the country’s social and economic recovery.”

As long as Mugabe holds power there will be problems. No, he does not control the weather but good farmers know what needs to be done. You drive them away and give the land to non-farmers and you get what you sow. People have tried to vote Mugabe out of power and look what happens. A once profitable economy goes down the tubes with the help of all the western do-gooders who backed Mugabe against the “evil empire” of Ian Smith.

For those who are unaware, here is a little history about Zimbabwe and what lays in store for the United States: After a decade of economic decline and hyperinflation, Zimbabwe’s economy grew about 4 percent last year, consumer prices fell about 8 percent, and bank deposits tripled, the International Monetary Fund reported Tuesday. But the I.M.F. characterized the outlook for this year as “highly uncertain.” President Robert Mugabe’s insistence on some local ownership of companies has slowed foreign investment, while higher wages for civil servants have consumed a growing share of the still limited public spending. NyTimes

The western solution seems to be throw money at the problem. I wonder what Robert’s bank account looks like in Switzerland. Whites built the country. Do-gooders in the west helped bring it down. The solution it would seem is to find a man the people can trust and who really cares about his country and his people then topple Mugabe. Mugabe and this regime did not appear from nowhere. Zimbabweans willingly brought it onto themselves. They were unhappy with Rhodesian franchise that required educational minimum and wanted “one man – one vote” regardless if that man had a stick through his nose.

Many willingly supported Mugabe’s guerrillas, danced at the independence, kept electing Mugabe and supported evictions of white farmers. Now they are dying of hunger. Yes they brought it onto themselves, no doubt. To be fair to them – they could not have done otherwise: uneducated, tribal and easily converted by cheap revolutionary slogans and hollow promises of Mugabe’s commissars they could not have resisted temptation. They can be blamed as much as the mouse for trying to steal cheese from a mousetrap. The real guilty ones are those lefties’ politicians who knew that this would happen but preferred to stay politically correct and support majority rule which they knew would fail the country in a matter of years.

African people need aid that puts them to work but our aid agencies have been hijacked by the Christian right who are determined to keep these people vulnerable. If the West actually started investing in home grown African businesses and China started employing African citizens rather than shipping in thousands of Chinese to build infrastructure then Africa would be on its way to a better future, but instead outside parties have put Africa in a position where it needs to ask for help on absolutely everything.

Mugabe is going to go down as the worst leader in the history of Earth. He has successfully turned Zimbabwe into a dirt poor, lower than third world country. Hyper Inflation due to un checked printing of money because Zimbabwe’s economists don’t understand economics has wiped out the wealth of nearly everyone there except Mugabe and his friends who only deal in US currency; who also routinely intercept aid and funding to live lavish lives. He took farms from white owners who knew how to farm and gave them to the native black population who knew nothing about farming and didn’t want to farm.

Now he’s forcing white owners of businesses to fork over control to black employees, employees that don’t know how to run businesses. He’s been rigging elections for years, even when he loses his own rigged election he refuses to leave power. Why the African Union or the United Nations has done nothing to get rid of this man is beyond xomprehension. Zimbabwe is a product of rejection[by the West] of the common sense in favour of political correctness. Now we are all asked to pitch in to alleviate some pain from past mistakes without accepting that they WERE mistakes repeating them in South Africa.

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Once it was a beautiful Rhodesia with flourishing agriculture and industry. Rhodesian government stated that eventually blacks and whites will rule together, but currently “black majority is not ready to rule.” Weren’t they right? It was very true, but it didn’t fit egalitarian principles embraced by the West so tightly, that it was impossible to accept that this principle can not be universally applied. For its “racist” practices Rhodesia was shunned by the UN, placed under economic sanctions and finally yoked under the economic pressures and military attacks of Mugabe’s guerrillas backed by Soviet Union and communist China.

So, common sense was defeated and political correctness won. Educated and hard working Rhodesians both white AND black left the country. The industry was affected first, however in 2000 oppressions on the white farmers started and this last pillar of the economy also crashed. Rhodesia’s infrastructure including water supplies and sewage treatment systems stopped functioning due to wear, tear and lack of repair. Hence, cholera. The failures of “liberated” African countries proves that “equal representation” democracy does not work in Africa: Congo, Uganda, Mozambique, Zambia, Angola, Rwanda, Zimbabwe. South Africa is well on the track. But the West keeps sacrificing common sense in favour of political correctness. Until that is fixed, Africa will continue its plight and aid humanitarian aid will only give a temporary relief, without changing overall pattern.

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