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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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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employment applicants

WASHINGTON (AP) — US employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008.

It was the fifth straight monthly job gain above 200,000 — the best such stretch since the late 1990s tech boom. Over the past 12 months, the economy has added nearly 2.5 million jobs — an average of 208,000 a month, the fastest year-over-year pace since May 2006.

Thursday’s jobs report from the Labor Department made clear that the US economy is moving steadily closer to full health after having shrunk at the start of the year.

With chaos on the border, in the Middle East and in the Federal Behemoth Bureaucracy, a little good news was desperately needed by the Obamapologists – even if the labor participation rate is at historic lows and there are 3.1 million long term unemployed. Blame Bush? Take some responsibility for adding 9 trillion to the Nation Debt, an avalanche of burdensome and costly regulation, anti-labor/eco-fanaticism and high taxation. Obama can take a big share of the blame too. Reagan recoveries died with Reagan. Pity that.

‘‘Since February, this has now become a textbook jobs expansion,’’ said Patrick O’Keefe, director of economic research at the consultancy CohnReznick. ‘‘It is both broad and accelerating.’’

June’s job gain followed additions of 217,000 jobs in May and 304,000 in April, figures that were both revised upward. Monthly job gains so far this year have averaged 230,833, up from 194,250 in 2013.

Investors appeared pleased by the news. When stock markets opened Thursday, an hour after the government released the jobs report, the Dow Jones industrial average traded above 17,000 for first time. By 10 a.m., the Dow had risen about 65 points.

unemployment

The unemployment rate dipped last month from 6.3 percent in May to its lowest level since the financial crisis struck at full force in the fall of 2008 with the bankruptcy of the Wall Street firm Lehman Brothers.

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  2. Dow Drops Over 200 PointsBy: Cindy Perman Writer Stocks tumbled Thursday after a disappointing ISM report on manufacturing piled on to worries about the economic recovery. The Dow Jones Industrial Average lost 203 points, or...
  3. 263,000 "jobs lost" and unemployment rate up to 9.8%Headlines: 263,000 “jobs lost” and unemployment rate up to 9.8%. That’s not good – there goes the “second derivative” argument. Weekly earnings are also down by $1.54, which is bad...
  4. The real truth about the unemployment rate“A true labor market depression faced those in the bottom…of the income distribution; a deep labor market recession prevailed among those in the middle of the distribution, and close to...
  5. Unemployment rate flirts with 10 percent“In 2008 and 2009, we lost 8.36 million jobs,” he said. “We’ve gained back 951,000, which is 11.4 percent of what we lost, so it’s taken us a year to...
  6. Jobless rate reaches 9.8 percent in SeptemberCHRISTOPHER S. RUGABER (AP) The U.S. unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report shows...

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