US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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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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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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canada's mediocre healthcare

“Ontario says healthcare could eat up 70 percent of its budget in 12 years, if all these costs are left unchecked. “Why are we paying more or the same for cataract surgery when it costs substantially less today than it did 10 years ago? There’s going to be a finer look at what we’re paying for and, more importantly, what we’re getting for it,” Brian Golden, Business Professor said.”

Canada, fretting over budget strains, wants to prune its system, while the United States, worrying about an army of uninsured, aims to create a state-backed safety net.

Healthcare in Canada is delivered through a publicly funded system, which covers all “medically necessary” hospital and physician care and curbs the role of private medicine. It ate up about 40 percent of provincial budgets, or some C$183 billion ($174 billion) last year.

Spending has been rising 6 percent a year under a deal that added C$41.3 billion of federal funding over 10 years.

But that deal ends in 2013, and the federal government is unlikely to be as generous in future, especially for one-off projects.

“As Ottawa looks to repair its budget balance … one could see these one-time allocations to specific health projects might be curtailed,” said Mary Webb, senior economist at Scotia Capital.

Brian Golden, a professor at University of Toronto’s Rotman School of Business, said provinces are weighing new sources of funding, including “means-testing” and moving toward evidence-based and pay-for-performance models.

“Why are we paying more or the same for cataract surgery when it costs substantially less today than it did 10 years ago? There’s going to be a finer look at what we’re paying for and, more importantly, what we’re getting for it,” he said. Source

Should health care be "free"?

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Does it look like Canada’s finances are doing better than any other country? Not at all.
canada's real debt graph

Nothing is free; not even healthcare

While it is true that we know this topic will generate a strong divergence of opinion, it should be stressed that public health care as we know it is not sustainable, yet the “Friends of Medicare” and self proclaimed “socialists” uphold the notion that it is the defining characteristic of a “humanitarian society.” Maybe so, but you can not legitimately defend a system that is clearly broken, failing people in genuine need, and draining the treasury.

With or without premiums, the system needs to be paid for. The endemic sense of entitlement that pervades our society, and that health care is somehow “free” is in a word absurd! What’s worse, the so called liberal minds of the ilk of Ruby Dhalla want to further open up of health care and pension to immigrants who have never, nor will never pay taxes in Canada.

In Alberta, the health care premiums should never have been dropped. Doing so created a $1 billion drop in provincial revenues that have to be made up from somewhere, ultimately taxes. It is too bad there is a growing segment of our society that is quite content to have others pay the bills. One day we tax payers will just stop coming to the party.

On the other side of the coin, when the Alberta government got rid of health care premiums, they didn’t build health care costs into taxes, which is how premiums are paid in other provinces. Of course it’s not working! Somebody has to pay for it, and taxpayers either need to do it through their taxes or people need to do it through premiums. There’s no such thing as free health care.

Presently, the government of Alberta is doing everything it can to break the health care system because what it really wants is privatized health care. When it was first suggested, everyone was against it. Now, more and more people are “coming around” and looking at the “bright side” of privatized health care because they feel that the long wait times, the inability to find a GP taking on new patients, and the lack of hospital beds are problems that are inherent to a public health care system.

There are those who beleive these are problems which are being manufactured by the government to make people believe that the public health system is unsustainable so that they will support privatized health care. “If the government got rid of premiums and passed the cost onto the public via tax increases, we wouldn’t have this problem,” they say. If the government had been collecting the oil royalties it should have, it wouldn’t have to keep cutting back on vital services like health care and education. If the government had been telling us the truth about how economically stable our oil industry is, we wouldn’t be in the biggest deficit the province has ever seen right now and cutting back on health care.

The problem with this line of thinking is that it has a tone of hypocricy within when it mentions “healthcare isn’t free,” and that “someone has to pay for it.” Indeed, nothing is free and someone does have to pay for it, but research, history, and emperical evidence overwhelmingly show that anything the government runs almost always turns to dust because of inefficiency and corruption just because it has a monopoly of whatever industry it touches (in this case, healthcare).

It is a fact that many people in Canada have died because of their poorly run state healthcare system. Some of them mind you, have been able to receive the care they needed by going to the US. We should be asking ourselves why this is the case.

Barbara Wagner from Oregon was denied a life-saving drug by their state-run healthcare system but was offered a drug for assisted suicide. In 2006, Rose Lundy of Calgary miscarried in a crowded ER room as they didn’t have the room or the staff to help her. In 2002, unidentified woman dies in waiting room in a Victoria hospital. Extremely important links: first, second, and third.

Healthcare is not a right

If the taxes universally collected were not wasted, and efficiently went to the cost of healthcare for everyone, that would boost productivity. If not, the tax will disappear into a Vast Black Hole, which yes, American governments are damn good at doing. Also, if Americans stop sending their military out everywhere to kill people for nothing but the wishes of the elite (oil, economic control through debt-slavery with the IMF, and so on) then they can have money for survival (healthcare, infrastructure & emergency responses like Hurricane Katrina, California wildfires, that kind of thing).

The problem here is that socialism is ‘communism lite’ in that it adheres to the same ideology. It says the state is better at deciding for the individual than the individual him/her self. Look, every single communist country had to create the governing system from the one in existence at the time. Every single one. And, every single one started with the same program of state control over this facet and that area. One by one the various areas of control fall to the governing body until such time that they amass enough control over the citizens lives that they no longer require permission to perform any thing they desire.

The responsible ideology is to contend that people themselves are more than capable of performing tasks like medical care and treatment themselves without the control of the government. Of course the truly indigent are another matter, but like all other forms of social assistance, government handouts, and “social safety nets” in most Western countries, we know that that far more people are included as those who ‘cannot’ take of themselves when the truth is they ‘will not’ take care of themselves. Indeed, in Canada it is conservative estimate that as much as 20 per cent of the population is on some form of disability payment system.

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