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

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

“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

"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

"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

"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

“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

"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?

"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

""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

“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

“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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bank bailout ireland

“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 […]

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chertoff lenin lookalike

“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 […]

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carlos slim

“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 […]

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house of 20 dollar canadian bills

“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 […]

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helicopter dropping greenbacks

“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 […]

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annual yield of us debt issued

“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 […]

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chinese army smile victory

“”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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globalization unified or end

“A “grave recession” in the world economy may lie ahead, with a profusion of new barriers to trade and capital flows, if the Group of 20 major economies (G20) fail to come up with solutions to the present crisis. The G20 will probably begin to suffer “progressive fragmentation” at its Nov. 11-12 summit in Seoul, […]

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deflationary spiral

“Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency’s value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.” — MyWay News The G-20’s failure to adopt the U.S. stand has underlined […]

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greenspan oops

“If we end up 12 months from now with countries taking protectionist measures, everyone will suffer. I think the absolute imperative for this weekend [at the G20] is a clear demonstration that every member of the G20 recognises that the imbalances are a problem . . . If we don’t do that then I fear the next 12 months […]

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darling lets get deeply into debt

“Over the past 15 years, the volume of outstanding mortgages has increased by 194 per cent. “There is a sizable minority, about 350,000 out of 5.65 million, or about 6 per cent, who would be challenged by rate rises of less than 1 per cent, and a further 225,000 (5 per cent) have thresholds in […]

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fractional reserve banking spread chart

“Brazil’s central bank president, Henrique Meirelles, said “excess liquidity” in the U.S. economy is creating “risks for everyone.” In China, Vice Foreign Minister Cui Tiankai said “many countries are worried about the impact of the policy on their economies.” He also said the U.S. “owes us some explanation on their decision on quantitative easing.” ” […]

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gold silver bullion bars

“Gold futures rallied to a record over $1,380 an ounce Thursday, and silver futures rocketed more than 6%, after investors piled into precious metals as a hedge against the sinking U.S. dollar after the Federal Reserve rolled out a new, $600 billion of extraordinary stimulus measures to prevent deflation.” — Marketwatch There are those who […]

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quantitative easing round two

“By buying government bonds, the Fed aims to keep long-term interest rates low, hoping it will lead consumers to spend and companies to invest more, thus helping to propel the economy forward. Short-term interest rates were slashed close to zero in Dec. 2008, so the Fed no longer has its traditional weapon to boost the […]

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