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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

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“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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"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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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

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Is Obama the next Mugabe of Zimbabwe?

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""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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greece bankrupt poster man in background

The key driver for state bankruptcy and currency collapse is the amount a country owes or is liable to foreigners

The only reason that people who work for a living support a government is that they expect their government who collect a percentage of their incomes through payroll deductions expect their government to provide them with basic social services. These benefits are not the largess of government or a tax on the rich, they are services that working people have paid for. If our government has lost our money by investing it in private corporations then we expect our government to recover the losses through cuts and increased taxes on those who benefited; not the workers. The Greek people are simply demanding that their government be just and fair. Who wants to return to feudalism?

global debt crisis country bankruptcy risk

People will say it is basically about borrowed money. Borrowed from whom? Banks. Why do banks have all this money? Do you think it comes from service charges? From interest rates on car loans? What about taxes? How much do you think banks pay in taxes?
We have a government who is taxing the people to death for a sum that is not enough to do all the things they are supposed to do, and borrowing from people who have all the money, but don’t get taxed.
This is a sinister variant of feudalism. The rewards of labour go in one direction: only Up. The Russian revolution, the French Revolution, the Chinese revolution, the American revolution were all results of the people saying “That’s it. No more.” The scenarios they faced are now being propagated on a global scale. It may take a few years; it may take a few decades, but the system in place right now is not sustainable, because it depends on the co-operation of a population who are being victimized by the system. And eventually, victims fight back.

When it comes to public debt, many attempt to distort the picture by bringing up different factors but in reality there are only 2 groups responsible: The bankers who lend and those who borrow (different levels of government)s. The third group, which consist the overwhelming majority of people on this planet are the victims who asked to repay the legalized financial fraud.

Global Sovereign Debt Crisis, Country Bankruptcy Relative Risk of Default

Mar 30, 2010 – 12:47 AM | Market Oracle

All countries are on the path towards bankruptcy, to measure where a country stands along this path it is critical to look beyond official statistics that focus primarily on public sector net debt and the annual budget deficit in terms of % of GDP.

The key item missing from most commentary on this subject matter is debt and liabilities that are denominated in foreign currencies as that can mask a stealth trend towards potentially imminent bankruptcy that can suddenly blow up in the face of a countries citizens who had been previously mislead by official statistics into thinking that the debt situation was under control, much as Icelanders experienced during 2008 where one day they enjoyed one of the highest standards of living amongst westerners to next day wake up to be bankrupt and poorer in terms of purchasing power than many third world countries. The key driver for state bankruptcy and currency collapse is the amount a country owes or is liable to foreigners, as debt denominated in foreign currencies cannot be inflated away as governments can do with domestic debt so it is one of the primary driving forces for a country going bankrupt as it is unable to meet the increasing interest payments due in foreign currency as its own currency falls. Read the rest from Market Oracle

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  1. Real list of countries on verge of bankruptcyLet’s talk a bit about these supposedly broke governments that have been reaching insolvency, and in cases like Iceland in 2006 and Argentina in 2001, have declared bankruptcy. It seems...
  2. Eight European Countries Charging Off A Sovereign Debt Cliff In 2010Half of the Eurozone’s sixteen economies are at risk of becoming ‘unsustainable’, essentially bankrupt. After driving a wedge between Japan and the US,driving a wedge between the EU and the...
  3. Pakistan on verge of bankruptcy“The ratings agency Standard and Poor’s has given Pakistan’s sovereign debt a grade of CCC +, which stands only a few notches above the default level. The agency gave warning...
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  5. Iceland throws out international bankers over Icesave bankruptcy“These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks,” Iceland...
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This entry was posted on Thursday, April 1st, 2010 at 5:54 pm and is filed under Bankruptcy. 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.

2 Comments

  1. April 3, 2010 @ 12:38 pm


    [...] This post was mentioned on Twitter by Jack Augh. Jack Augh said: All countries on path to bankruptcy http://goo.gl/fb/vSaYK [...]

  2. May 3, 2010 @ 5:06 am


    It is Mathematically impossible to supply enough oil and electricity for the Cities in 50 years time for 10 Billion People. So you can imagine a nation has to choose between Non-Bankruptcy and hyperinflation or No Oil and No Electricity. Which do we choose ? For how long does the Government propose to fool the people ? We are not in the 11th hour for global warming – We are in the 11th hour to provide safe and cheap energy to a global civilization that has got dependent on it. YouTube – The Most IMPORTANT Video You’ll Ever See (part 1/8): http://bit.ly/9eTyCL – Dr. Albert A. Bartlett’s

    Posted by David Jeremiah

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