Your number one source for news about the coming economic depression

“We’re on the cutting edge here. We’re the tip of the spear,” said Magdalena Prado, Maywood’s community-relations officer, who works for the city as a contractor. In Canada, “I’m gonna go over this with a fine-tooth comb — it isn’t over,” an angry CUPE Local 82 president Jim Wood said of the staff [...]

“.. just last week, the United Nations released a report concluding that the dollar should no longer be the world’s reserve currency because it is not stable enough. The dollar is down 5% over the past month, and even currency traders don’t see it as a safe haven any more.”
The US dollar would almost certainly [...]

“I don’t know that I’ve every heard a gloomier picture painted that created more hope for me,” said Arkansas Gov. Mike Beebe (D). I have no idea what’s going to happen on Election Day but it’s going to be disruptive . . .,” he said. “It’s going to be a big wake-up call around the [...]

Free Trade is not about manufacturing. It is about allowing the Rich Folks unfettered access to banking centers and investment houses off shore. It is about the establishment of a world government with common humans nothing more than livestock to be used.
Free Trade is an “Impossible Ideal”. It was a lie! A Charade because [...]

“Less than 400,000 square feet of new strip mall space was added in the second quarter, so increases in the national vacancy rate are coming from existing properties bleeding out, not from new properties,” Calanog said.
July 7 (Bloomberg) — Vacancies at U.S. neighborhood and community shopping centers moved closer to the highest on record in [...]

“Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that developed before the Depression in 1929, then with the recovery in 1930 we had another head and shoulders pattern that preceded a fall in the market, and in the current Dow situation we see an exact repeat of [...]

Wang Rong, who is six-months pregnant, is about to leave Beijing for California so she can give birth to her baby in the United States and give the child its first gift – US citizenship.
According to little Tommie Friedman in the New York Times China is supposed to be like heaven whereas America is supposedly [...]

“You certainly don’t need a college to gain knowledge. For example, there’s an outfit called The Teaching Company that hires the very best professors in the world in all sorts of subjects to deliver superb audio courses.”
Unfortunately for students, this year proved very difficult in the job market with record unemployment levels among students. [...]

“The reason that consumers are not spending more money has nothing to do with attitudes. The reason that most consumers aren’t spending is the same reason that homeless people aren’t spending much money: They don’t have any money.” — Dean Barker, Counterpunch
Credit cards are the bane of Western society’s existence. Perhaps they are a [...]

“Mr Monks, now head of the European TUC, said: ‘I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and his message was blunt: “Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know [...]

“You can’t take a country that’s over-borrowed and make it more creditworthy by lending it more money,” he said. “They’re throwing Greece further and further and further in the hole by not addressing the problem directly and properly.” Asked when a Greek default could happen, Weinberg answered: “at High-Frequency, we are advising people to [...]

“According to several reports, a spokesman for the new prime minister of Hungary, a member of the European Union that does not use the euro currency, said that talk of a Hungarian default is not “an exaggeration.”

Hungary truly is a welfare state. It’s a nation of 10 million that has three million pensioners. Besides money [...]

“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 devaluing it (printing more than it’s worth) and giving [...]

“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 [...]

“We [Miami] are not the only city, municipality to be going through this. It looks like Los Angeles sometime next week or the week after will be going bankrupt. It looks like there will be 30 more cities following suit.” New Jersey Governor Chris Christie said the state is “careening our way toward becoming [...]

“People have looked at Greece over the last three to four months and now they’re focusing their attention on Spain and its banking sector,” said Aroop Chatterjee. Tensions on the Korea peninsula also buoyed the dollar and yen after South Korea’s Yonhap news agency said North Korean leader Kim Jong-il had told his troops [...]

“The U.S. Department of Commerce said yesterday that it has set preliminary anti-dumping duties on refined Chinese and Mexican copper pipe worth hundreds of millions of U.S. dollars.”

You cannot create a country’s “middle-class” by “big” socialist government civil servants sustain by low wage earners heavily taxed using their beer wages to create middle-class civil servant’s [...]

“The Bank of Montreal has been hit by a huge mortgage fraud in Alberta that may cost it $30 million, a report said. The bank is suing hundreds of people in connection with the scam, including lawyers, mortgage brokers and four of its employees, CBC News said, citing legal documents.”

The case may be the [...]

“Papaconstantinou confirmed Sunday that the government would tighten its belt significantly, despite the protests. “The expenses of the public sector will go down very considerably,” he said. Prime Minister George Papandreou earlier Sunday tried to rally the country behind the government. “We will do everything possible. We are planning very serious changes,” Papandreou [...]

“Goldman Sachs are scum– that’s the bottom line. They have basically co-opted the government; they’ve co-opted the Treasury Department; the Federal Reserve functionality; they’ve co-opted the Obama administration. Barack Obama dances to Goldman Sachs tune.” — Max Keiser

Just remember, Hank Paulson [former CEO of Goldman Sachs then Secretary Treasury USA] took Congress hostage– took them [...]