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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Content By: The Coming Depression Editorial Staff (dates cited below)
Copyright: include link to this article on top of reproduction if you use it.
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police state america's new way of life

“These alarming numbers should be considered along with findings in another recent Pew research study entitled “The People and Their Government,” released April 18. This report finds that “by almost every conceivable measure Americans are less positive and more critical of government these days.”

Does anyone think the standard of living that Western societies have been living in the past 50-60 years will continue? The standard middle-class benchmark of living has been one or two cars, a house, a nuclear family, and vacations, all generated by income from earned money from typical middle class occupations. The middle class, as specified by wikipedia, includes anywhere from 25% to 66% of households.

Everyone wants to believe they are middle class…But this eagerness…has led the definition to be stretched like a bungee cord — used to defend/attack/describe everything…The Drum Major Institute…places the range for middle class at individuals making between $25,000 and $100,000 a year. Ah yes, there’s a group of people bound to run into each other while house-hunting. —Dante Chinni

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America has become more a debt ‘junkie’ than ever with a total debt of $ 57 trillion – – and the highest debt ratio in history. A large portion of total debt was created since 1990, a period primarily driven by debt rather than productive activity.

The US of A has become the opium addicts the Chinese once were with cheap imports from China where the West’s manufacturing base has largely been relocated; indeed, the livelihood of the North American economy. Now, the US is suffering its second Greatest Depression that will make the first one look like a cakewalk with all the credit cards and debt instruments that didn’t exist back then.

china usa trade deficit graph

In the 1700s, Congress was advised by President Washington that it was necessary to impose tariffs to protect industries of their colonies. This was the firsts trade barrier. Let us dispose once for all with words such as “isolationist” and “being against global trade.” The US did not grow great on these things. It grew great on the hard labor of the people who lived in those days and the wise protection barriers imposed by George Washington erected to protect the US from the Britishs’ damned so called free trade.

It allows other countries like China to dump their products on the US market to the detriment of thee US. chinese opium smoker
It is strictly a one-way street as evidenced by the rules, barriers, and mercantilist policies enacted by the Chinese to protect their own industries from “harmful” US imports. Indeed, our old presidents saw value of trade barriers and realized that if the US were to progress, it would not be a dumping ground for the world.

The Staggering Collapse of Living Standards in the US — 92% of Americans Unhappy with the Economy

“A series of recent studies conducted by the Pew Research Center shed new light on the scope of the economic crisis in the US and the level of hostility the majority of the American population holds for the US government.

Released in March, before the passage of the Obama administration’s health care legislation, a survey entitled “Health Care Reform—Can’t Live With It, or Without It” indicates that 92 percent of Americans give the national economy a negative rating. No fewer than 70 percent of the respondents report having suffered job-related and financial problems in the past year, an increase from 59 percent the year before. Fifty-four percent report someone in their home has been without a job and looking for work in the past year, up from 39 percent in 2009.

The poll saw an aggravation of conditions in every area of economic life studied the year before. Increasing numbers of people are reporting difficulty receiving or affording medical care (26 percent) or paying their rent or mortgage payments (24 percent). More Americans faced problems with collections and credit agencies (21 percent), or had mortgages, loans or credit card applications denied (19 percent).

The Pew survey found that 85 percent of Americans reported difficulty finding jobs in their communities. This and other statistics revealing the increasingly dismal employment opportunities facing millions of Americans are provided context in another study released this month by the Pew Economic Policy Group.” Source: Alternet

queen holding a gun in a car

Canada’s living standards

According to purchasing power Canada is not number 9 (as recent official studies have indicated) in the world but number 14. Per capita income is not really a meaningful measure because of their high taxes as well as other factors. For example, the federal corporation tax is something like 22% but provincial corporation taxes add another 10 to 15%, depending on the province. And they do pay some of the highest income taxes in the world, plus the GST and provincial sales taxes and high excise taxes on many things, not to mention high municipal taxes and all other sorts of fees. Don’t forget about the new Harmonized Sales Tax being introduced this summer 2010 for Ontario. That will likely cripple the economy already battered by the depression.

The media does not really report what the cost of living is in other countries. For example, you might read about how expensive some types of food or gasoline or electricity are in Japan, but they will not tell you that Japanese pay very low property taxes, car or house insurance (about a quarter of what they are in Canada) and only a 5% sales tax and very low income tax for average people. They also do not mention that any manufactured goods are much cheaper than here, even without taxes. Some European countries have very high prices for manufactured goods or gasoline. Gasoline in BC is about 10 cents per litre more in BC than in Ontario or Alberta because of higher provincial gasoline taxes.

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Also, because so much of Canada’s income comes from resources the per capita income is likely to tumble also. The price of oil has dropped from $150 per barrel to less than half that in a matter of months and so have other resource prices. That alone will make for a huge decline in revenues for Canada (and Norway) or other countries which depend on export of resources for income.

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  2. Official Canadian inflation rises to 2.4 percent; real inflation close to 10 percent“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...
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This entry was posted on Wednesday, April 28th, 2010 at 12:10 am and is filed under Survival Tips. 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.

2 Comments

  1. May 9, 2010 @ 12:30 pm


    3 years ago when Jeffrey Grupp wrote “Corporatism”, he said, ” The American were the most stupid people on earth.” because they were not aware they were being swindled by their own corporates. Today, May 2010 – 92% of Americans have quickly learnt that they are being deceived by their Government, the Elite and the Corporates, The Media and the Big Banks. This shows Americans are NOT stupid and I am sure Prof. Jeffrey Grupp will be Pleased to note that! YouTube – Jeffrey Grupp on :Corporatism”The Secret Government of the New World Order”: http://bit.ly/dwYyzU

    Posted by David Jeremiah
  2. January 8, 2011 @ 9:58 am


    Americans are more aware of what is being done to them, that I disagree with in most cases. I have a hard time finding anyone who even knows the basics of what is endemic fraud and treason. But if they do know, then why are they sp apathetic about throwing them all in prison and starting over? Nothing less will have any effect at all. Vote a new member into the house and before they are sworn in they are corrupted.

    No matter what party you belong to you are supporting the same old rape and pillage. It is time for a real response to this from the people. And it should be unmistakable and severe.

    Posted by Michael

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