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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british economy pounded

“This is obviously very worrying, just at a time before the VAT increase hits so this looks awfully like the UK is headed back to double-dip,” Blanchflower told CNBC. “I think people have underestimated the sheer size of this shock,” he said. Britain’s “awful” gross domestic product figure for the fourth quarter is pushing the [...]

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cash toilet

“The Monetary Theory of the Great Depression is incorrect, however. Consequently, the Fed’s Quantitative Easing policy is more likely to exacerbate than resolve the global crisis,” Duncan argued in an article. “The Great Depression was caused by the inability of the private sector to repay the debt it incurred during the Roaring Twenties, just as [...]

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portugal buy now wont pay

“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 can avoid following Greece and Ireland and asking for a bailout.” — Nia Williams and William James, Reuters (1) Portugal faces a struggle to persuade [...]

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chinese takeover europe

“China, in bailing out Europe, is asking for its goods to be allowed in without barriers .. We hope that the EU will relax restrictions on high-tech exports to China … and develop trade relations that are balanced and sustainable,” Mr. Li wrote in an op-ed titled, “China will be more open to the world” [...]

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“The fuel price hike – which protesters were calling the “gasolinazo” – caused the cost of transport to soar, and pushed all food prices up.” — BBC News Bolivian President Evo Morales has rescinded a decree which raised fuel prices by more than 70% and sparked civil unrest. Mr Morales reversed the price rises introduced [...]

(1 votes, average: 5.00 out of 5)
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chinese_army_parade

“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.” [...]

(1 votes, average: 5.00 out of 5)
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“What they were doing was peddling these mortgages and leaving the paperwork behind,” said Michael Pill, a real estate partner at Green, Miles, Lipton & Fitz-Gibbon LLP in Northampton, Massachusetts who is not involved in the case.The Massachusetts court rejected a request by the banks to apply the decision only in future cases, leaving homeowners [...]

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Bank Owned Sign on House in Foreclosure

“Home values have fallen 26 percent since their peak in June 2006, worse than the 25.9-percent decline seen during the Depression years between 1928 and 1933, Zillow reported.” The whole economy is in a depression, if you take out the unemployment benefits and the student loan program. Realize the first depression didn’t have 5 trillion [...]

(2 votes, average: 5.00 out of 5)
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canada economy burger flipper service sector

“Canadians are reflecting, rightly, that the job market isn’t as good as it was when times were good and they say ‘we’re in recession’ because of that, where economists say ‘we’re in recovery’ because we’re not as bad as we were during the recession.” — Avery Shenfeld, chief economist at CIBC How is the recession [...]

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immigration fence greece

“Greece cannot take it any more. These are tough times for us. Our economy is in recession. We have unemployment and serious problems. Greece cannot become the promised land for those who want to leave their countries and come to Europe.” Greek Citizen Protection Minister Christos Papoutsis told lawmakers in Athens on Friday. The U.N. [...]

(1 votes, average: 4.00 out of 5)
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geithner bad face

“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 and could lead to the loss of millions of American jobs. Even [...]

(5 votes, average: 5.00 out of 5)
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jorg

“Quantitative easing is designed to bail out the federal debt, but it may presage Weimar.Dr. Hulsmann discusses the evils of central banking and fractional reserves, the blessings of deflation, and how Austrian economists are making vast progress.” Lew Rockwell interviews Jorg Guido Hülsmann. Jörg Guido Hülsmann (born May 18, 1966) is a German economist and [...]

(2 votes, average: 5.00 out of 5)
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oil addict

“Oil is one of the most important inputs to the economy. If the oil prices go up much higher than what we have been seeing in the markets, this would mean that the budget of the households in terms of more expenditure for traveling or for other energy purposes, this would mean that their income [...]

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obama wants retirement accounts

“Hungary, Poland, and three other nations take over citizens’ pension money to make up government budget shortfalls. The article goes on to detail other pension grabs in Bulgaria, Poland, France and Ireland. Obviously, this is a cautionary tale for America. If fiscal austerity becomes a real issue in the U.S. the way that it’s been [...]

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