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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Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

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Content By: The Coming Depression Editorial Staff (dates cited below)
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carlos slim

“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 is record climbing in many places”, added Slim whose empire covers telecommunications, mining, real estate, media, infrastructure, among other businesses. He is here for a round of conferences.

Slim also argued that there is no such thing as a “currencies war” but rather the United States devaluing the dollar to try and limit imports. “But what is the purpose of having China revalue its currency the Yuan if the US simply does not produce much of what it imports from Asia”.

The Mexican billionaire argues it would be better for China to increase the salaries of its people so that the market becomes larger, strengthening not only China but also becoming a market for the products it does not manufacture. Report sourced

There is one profound flaw with the idea of spending your way out of debt. No government will want to be the one in power at the time the debt has to be paid down, because they know it will be an election issue. Therefore, all that will happen is each successive government will keep pushing the deficit forward. It may avoid a prolonged recession or even a depression, but it still robs the future of funding. So the debt is spread over twenty years, that’s still twenty years of debt reduction that could have been avoided, had the developed nations not grossly overspent to begin with.

Another profound flaw with the world economy right now is the idea that Germany will be okay if it can sell to China. China will be okay as long as it keeps the yuan down and exports up. But the US needs China to devalue the yuan in order to increase its own exports. China needs to sell to the US and needs to buy from Canada. Australia depends on China for exports, and on and on and on. Back in the 1930′s the world economic system was more simple. Today it is mega complicated. You can push this up, but that goes down, so you push over here, and something drops over there. It’s like there are sixteen holes in the dike and you only have ten fingers and a nose.

Well, it appears that months/years of wondering maybe if that “doomsayer economist” Peter Schiff iwas wrong; maybe we aren’t doomed to a depression where we burn money to keep warm; maybe we can fix corruption and greed, is all just wishful thinking like Obama’s “hope and change.” It seems that a positive, unrealistic attitude leaves you with a red hand mark on your face and a stinging sensation. It hurts.

It appears we’re headed for a worldwide inflationary depression because from America to Zimbabwe we still consume just as much, we still produce just as much, yet there seems to be a sinkhole. We’ll probably see a whole stream of blogs/websites of people saying the exact same thing ad nauseum: “we have been robbed, and not just your T.V. and your lampshade, no, we have been robbed of a future, a career.” Indeed, the American dream they place in movies so we work harder. We held our end of the bargain yet they didn’t deliver. In most situations it’s best not to hold grudges, but there are always exceptions to the rule. Let us put in this context:

A bully beats you and your friends up everyday and takes your money, he tells you repeatedly that he won’t do it again, but he persists without fail. How long will you believe him? How long does it take for you stand up to him with your buds and say “I’m mad as Hell and I’m not going to take it anymore.”

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This entry was posted on Wednesday, November 17th, 2010 at 11:32 pm and is filed under North America. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. November 18, 2010 @ 2:35 pm


    The economies are not getting better. people are just going more into debt as well as the government on their so called stimuls spending programs. People need to wake up and save their resources cuz times ar egetting bda!

    Posted by Jason

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