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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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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How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

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Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

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Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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“To me, there looks like some sort of tacit global agreement for nations outside of the euro zone to assist in the refunding of nations within the euro zone,” said Andrew Busch, global currency and public policy strategist with Bank of Montreal’s investment arm in Chicago. “Without question. there’s a lot of discussion about this.”

Japan, China to support euro zone by ERIC REGULY AND BRIAN MILNER

Japan and China have emerged as defenders of the euro zone, pledging to support its bonds and prop up the embattled monetary union at a crucial moment in its debt crisis.

The support is key as it signals to global investors that there is international backing for Europe’s efforts. The timing is also key as markets, already speculating that Portugal is next for a bailout, begin to shift their focus to Spain’s far bigger and more important economy. Spain, if it were to succumb, would mark the spread of the crisis to Europe’s larger economies. So far, its smaller members have been the focus.

In Tokyo Tuesday, Japan’s Finance Minister Yoshikiko Noda said Japan would buy more than 20 per cent of new euro zone bonds issued to support Ireland’s €85-billion ($110-billion) bailout, which is being financed by the European Union and the International Monetary Fund. These will not be the bonds of individual governments, but rather those from the European Financial Stability Facility, or EFSF, the group’s rescue fund.

Related posts:

  1. Shock: Spain may ask for 280 billion Euro bailout“A rumor that Spain will ask for 280 billion euros of aid money in order to deal with its debt is running in the past few hours in trade rooms....
  2. A Financial Earthquake is Next after Japan’s earthquake and meltdown“First, Japan will have to stop buying US and Euro bonds. Next, they will have to repatriate funds back to Japan for reconstruction. Third, the Japanese will have less money...
  3. Greece receives mammoth bailout, people do not“Papaconstantinou confirmed Sunday that the government would tighten its belt significantly, despite the protests. “The expenses of the public sector will go down very considerably,” he said. Prime Minister George...
  4. Democracy could disappear, Europe’s head warns“Mr Monks, now head of the European TUC, said: ‘I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and...
  5. Stock Market Crash Dead Ahead Say Faber, Rogers, Dent and CelenteBy Mac Slavo of MarketOracle UK After a massive upswing in US stocks over the last six months, the recent rally may finally be coming to an end. It seems...
  6. Portugal’s borrowing rates spike“at 6.72 percent the cost of borrowing remains high, and with bonds being traded at nearly 7 percent in the secondary market there is little sign investors are convinced Portugal...

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