Your number one source for news about the coming economic depression

“Trade protectionism is obviously intensifying with some countries using self-innovation, government procurement and the yuan exchange rate to exert pressure on China.” — Mr Zhang Ping minister of the National Development. Yes, free trade is communism. Watch the video below
Everyone is talking about the economy lately (and no surprise there). We are all [...]

A plan in the works to save money in Concord, Massachusetts. Residents can keep their lights on, but they’ll have to pay a monthly fee. It’s become a hot topic in the town of 17,000. David Ropeik: “Government can’t afford now the basic kinds of things that we thought government basically did.”
It’s no wonder [...]

“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 [...]

“Those folks are coming here seeking opportunities. Those folks are coming here seeking the American dream.” Pierre told us.
here are an estimated 460,000 ILLEGAL immigrants in Arizona.
These illegal immigrants do not pay taxes on the wages they earn, yet US law allows them medical care and their children to attend school at the expense of [...]

According to this article, Shaul Mofaz, an Israeli cabinet minister and former military chief and defence minister has said in a published interview that “Israel would have no choice but to attack Iran if it doesn’t halt its nuclear program.” The article then goes on to say that “Mofaz has been Israel’s representative in a [...]

“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 Conservative cabinet ministers flying around the world defending banks from a tax to cover their next, [...]

“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 [...]

“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 [...]

“Europe’s top job-creator only two years ago, Spain now has the region’s highest unemployment rate, at just over 20 percent, and is the slowest of the major economies to emerge from the global recession. Meanwhile, the ratings agency dealt a blow to state efforts to shore up confidence in its finances by cutting the [...]

“That’s an incredible surge,” Adrian Aguirre, an economist at Caracas-based Bancaribe SA, said in a telephone interview. “The fact that food prices rose by more than 11 percent is something we’ve never seen in the last decade.”

Consumer prices rose 5.2 percent in April from March, according to the central bank’s benchmark Caracas price index, released [...]

“A rumor that Spain will ask for 280 billion euros of aid money in order to deal with its debt is running in the past few hours in trade rooms. This is what’s bringing down the Euro.”

It appears that bailing out Greece wil not be enough to save the European community as Spain is another [...]

“Every socialist and fascist regime in history has put up walls to prevent flight by people and capital. This is why people and capital are flying now, while they still can. In so doing, they are inspired by the writings of the American revolutionaries. The difference is that they have decided that living in the [...]

“The International Monetary Fund (IMF) has proposed new taxes on financial institutions to cover the costs of future potential bailouts, leaked documents show.”

According to the IMF proposals circulated to the Group of 20 advanced and developing countries on Tuesday, the measures would see all institutions pay a bank levy as well as a further [...]

The United Nations says that nearly 212 million people were unemployed in 2009. That is 6.6 per cent of the global workforce. According to a new report the situation in Europe will get worse before the trend improves.

The analysis by the United Nations and the ILO are timely, but it would be nice to get [...]

How many of you fell for Obama’s attempt to silence the outrage coming from all sides of the political spectrum with his Financial Transaction Fee plan??

“Venezuela’s decision to devalue the Bolivar culminates an event that the market has been anticipating for a long time,” said Walter Molano, an analyst at BCP Securities. “It helps alleviate the country’s fiscal woes and puts it on a sounder macroeconomic footing.”

The currency devaluation that Venezula implemented allows them to sustain the nominal value of [...]