“Camden City Council, as expected, voted Thursday to lay off almost 400 workers, half of them police officers and firefighters, to bridge a $26.5 million deficit. That’s about a quarter of the city’s entire work force.” Five members of City Council voted unanimously to approve the layoff plan — two other members were absent. The [...]
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“You could always count on your increase,” said Danielle Swain of Manassas, an analyst for the foreign export service of the Agriculture Department who is nervous about the cut to her commuter-rail subsidy. “If you don’t get a bonus, this is all you get. They’re picking on the government because they assume we sit around [...]
“Next up for the international web site operator Julian Assange, who has been condemned by many as an Enemy of the State: Assange intends to bring down a major financial institution.” — Mac Slavo What is tremendously comical is all the propaganda that politicians keep feeding us year after year and we pretend we believe [...]
““If we tolerate this,” Paul said, “there’s something wrong with us.” He added that the American people deserve to be humiliated and demeaned by the government if they refuse to stand up and resist.” Appearing on the Alex Jones Show today, Texas Congressman Ron Paul expressed his outrage and disgust with the TSA and its [...]
“With just over a month since the QE2 announcement, discussion over the amount, implications and effectiveness of QE2 are almost as prevalent (and moot) as those over the imminent collapse of the MBS system. And the more the printing, the better. One of the amusing debates on the topic has been how much debt will [...]
“Once again, for the very cheap seats, the re-recession predicted by the ECRI, has materialized (at least according to Ben the Bernank) and is being resolved with $900 billion in monetization.” — ZeroHedge’s Tyler Durden The US Empire is toast. FDIC was bankrupt as of mid 2009 and has been getting the ‘unlimited taxpayer bailout’ [...]
“Inflation came in hotter than expected. Markets were expecting to see a 2.2% increase in headline inflation but it came in at 2.4%. The more important piece of information is what happened to core inflation because I think markets will largely look past the increase in energy prices. The more important issue is that the [...]
“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]
“Rep. John J. Duncan Jr., former Chairman of the House Aviation Subcommittee and the current top Republican on the House Subcommittee on Highways and Transit, blasts TSA’s invasive “pat downs” during a speech on the floor of the House of Representatives on November 17, 2010. Duncan also questions the role of lucrative government contracts in [...]
“Mexican tycoon Carlos Slim considered by Forbes the wealthiest man on the world said here that “the global crisis is not over, nothing has been solved, only patches to avoid the worst effects of a great depression”. — BERNAMA MERCOPRESS “The problem is getting worse since countries have accumulated more debt, more deficits and unemployment [...]
“The economist who received an award for being the first to sound the alarm on the U.S. housing bubble, is warning the same could happen in Canada if we aren’t careful. Dean Baker with the Centre for Economic Policy and Research says housing prices here might collapse if interest rates rise by about two percentage [...]
“This shadow inventory when released will drive down prices again. Shilling thinks 20-30% lower in 2011. If you are looking to buy a home, you should be looking at some unbelievable deals in 2012 and 2013.” We caught an interview today with Mr. Dudley of the NY Federal Reserve bank and his comments caught our [...]
“There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart. A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close [...]
“”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, Financial Times contributor. “Well, [...]
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