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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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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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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This entry was posted on Thursday, March 31st, 2011 at 5:21 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. May 3, 2014 @ 7:28 pm


    This article s so silly. The author dismisses the fact that a monetarily sovereign government issuing its own non-convertible, fiat currency with a flexible exchange rate never depends on revenue per se to spend and can never, involuntarily, go broke, therefore, the author ignores the fact that the Federal government can simply destroy its own liabilities reduces its debt by up to 90%. It would not want to eliminate that debt all at once since then it would starve the private sector of net financial assets, i.e., the proceeds from deficit spending. Depriving the private sector of NFA forces it into more debt and could lead to recession.

    Factoring in future safety net costs as a reason to forego present investment is valid in the very short run. But not for the long run. If CBO projections of surpluses, deficits. GDP and other economic indicators after the Clinton Administration we’d be in the worst depression in our history.

    One need only understand the basics of national income accounting and grasp sectoral balance identities to fathom the effects of both monetary and fiscal policy in our three sector, macroeconomic system.

    No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
    Two key equations in economics:

    1. Federal Deficits – Net Imports = Net Private Savings
    2. Gross Domestic Product = Federal Spending + Private Investment and Consumption – Net Imports

    http://mythfighter.com/2009/09/08/ten-reasons-to-eliminate-fica/

    Nine Steps to Prosperity:
    1. Eliminate FICA
    2. Federally funded Medicare — parts A, B & D plus long term nursing care — for
    everyone
    3. Provide an Economic Bonus to every man, woman and child in America, and/or
    every state a per capita Economic Bonus. Or institute a reverse income tax.
    4. Free education (including post-grad) for everyone.
    5. Salary for attending school
    6. Eliminate corporate taxes
    7. Increase the standard income tax deduction annually
    8. Increase federal spending on the myriad initiatives that benefit America’s 99%
    9 Federal ownership of all banks

    Posted by The Anarchist

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