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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People are increasingly getting their news from the Internet and television, and newspapers. Instead of walking outside to pick up whites and blacks easier to warm your Mac or PC or just flip on the TV.

While the role of a newspaper may be made by internet, it would not be surprising to see that people with subscriptions to newspapers become very rare after 5 to 10 years if not extinguished at that time.

It seems that the only way to survive is to implement a subscription fee for online content, and to let the newspaper printed die a noble death. As much as I prefer to relax with an evening of reading the newspaper after watching a computer screen for 8 hours a day, printed news can not compete with the immediacy of the new 24-hour broadcast and Internet news in real time.

The real tragedy of the disappearance of printed news is the lack of reliability of digital media as a means of archiving our daily activities for historical purposes. If we are going 100% digital, we do not have physical evidence essential to document the history of our towns, cities or states. At the touch of a button, data can be accidentally overwritten, servers may be corrupted and criticisms can be lost forever.

USA Today expects to report a drop of 17 percent in circulation. This would be its largest drop ever.

USA Today to post 17 percent drop in circulation

While most major newspapers are struggling to keep print subscribers and newsstand sales, USA Today is also blaming it strongly on drops in travel and tourism. Many of the newspaper’s sales are in hotels and airports.

USA Today’s publisher, David Hunke (pronounced HUNK’-ee), told staff about the circulation plunge in a memo Friday. From April through September, the average daily circulation at the Gannett Co.-owned newspaper was 1.88 million. That amounted to 398,000 fewer copies than in the same period of 2008.

Original story published by Associated Press

CanWest and the future of Canadian journalism

On Tuesday, Canada’s largest media empire took its first step toward a historic breakup, as debt-laden CanWest Global Communications Corp. sought court protection from creditors to shelter some of its most crucial assets.

It was a move the company’s chief executive officer, Leonard Asper, tried desperately to avoid over the past year, agonizing in private that the business founded by his late father, Izzy Asper, 35 years ago would be forever tainted by the stigma of a filing aimed at staving off bankruptcy.

Original story covered on Globe and Mail

Related posts:

  1. US Posts Biggest Fall In Tax Revenue Since 60sBy CONOR DOUGHERTY State tax revenues in the second quarter plunged 17% from a year earlier as rising unemployment and reduced spending hurt sales- and income-tax collections, according to Census...
  2. Hotel Rates Drop Across North AmericaHotels, economically speaking, are of the elastic demand variety of intangible goods in that as income rises, more people tend to rent hotel rooms for vacations and business trips, and...
  3. Dramatic drops in foreclosures telltale sign of depressionDrop in foreclosures called ‘very scary’ Lenders’ actions show they think properties are not worth pursuing. By Ken McCall, Staff Writer 9:00 PM Saturday, October 17, 2009 Nobody is sure...
  4. Mainstreet in gutter while Wallstreet posts 17% profitBonuses on Wall Street rose 17 percent last year to $20.3 billion even as the industry faced a public backlash over pay practices. While it’s easy to blame the financial...
  5. Canada Must Forge Its Own Economic FateThe SPP is dead. Good. That helps reduce dependence on a downbound US. By Murray Dobbin, 24 Sep 2009, TheTyee.ca The SPP is dead. Let’s keep it that way. With virtually...
  6. 2009 Retail sales plunge by record amount“Economists are worried about consumer spending in the months ahead given their forecasts that unemployment, currently at 10 percent, will keep rising until perhaps midyear.” Obviously the only way sustainable...

This entry was posted on Friday, October 9th, 2009 at 6:21 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.

Comments

  1. October 9, 2009 @ 11:13 pm


    Good riddance to print. Im not one for conspiracies but the print media/mass media of today truely seems like it spews its ‘news’ from the same source. Theres 0 difference in opinion from most magazines like you would expect there to be.

    Atleast on the internet we have thousands of different options for news…and hey, if we want to see what the European or even Arab media thinks of events going on in our country [US] to get a different perspective…we can do it. And oftentimes the foreighn news report things more correctly than say, CNN does. Political correctness has really hurt rational reporting in our country. IF someone wishes to pay online to read the New Yorker, then good for them. However im not going to cry over any print media closures, 90% of them report the same things and lack the balls to state the truth or alternate opinions.

    Posted by jon
  2. October 10, 2009 @ 12:06 pm


    Jon,

    Yes I agree that newsprint’s disappearance is good in some ways, but bad in others. Overall I think it is good because people can now get their information from whatever/wherever they want, but I think many media outlets can spring up to spread disinformation now.

    Posted by Jacques

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