“What is happening in Wisconsin clearly shows a disconnection with reality in an economy that has forced many private-sector workers into lower wages and reduced benefits, if they were lucky enough to keep their jobs at all. The outcome of this battle could impact other states where cuts are looming, as well. As this story [...]
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“the Jew-haters have returned. For years the Texas crackpot, Ron Paul, has been attacking America and Israel as imperialist powers — the Great Satan and the Little Satan, and calling for America’s retreat from the battle against our totalitarian enemies. At the recent CPAC conference Paul’s Jew-hating storm-troopers swarmed the Freedom Center’s table to vent [...]
“China, in bailing out Europe, is asking for its goods to be allowed in without barriers .. We hope that the EU will relax restrictions on high-tech exports to China … and develop trade relations that are balanced and sustainable,” Mr. Li wrote in an op-ed titled, “China will be more open to the world” [...]
“Camden City Council, as expected, voted Thursday to lay off almost 400 workers, half of them police officers and firefighters, to bridge a $26.5 million deficit. That’s about a quarter of the city’s entire work force.” Five members of City Council voted unanimously to approve the layoff plan — two other members were absent. The [...]
“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 [...]
“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 [...]
“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 [...]
“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 [...]
“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, [...]
“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.” ” [...]
“Neither a Keynesian big spending program, nor the military-industrial complex can create long-lasting employment or economic prosperity for our country. The only way to restore both peace and prosperity is to draw down our overseas commitments, along with unconstitutional spending at home and return to the founders’ vision of a limited republic that neither straddles [...]
“Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.” National debts are not a nation borrowing against its future success. They are a benefit for a current generation to [...]
“We’re in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness,” he [Brazilian finance minister Guido Mantega] said. The world is in the midst of an “international currency war” according to Brazil’s finance minister as governments force down the value of their currencies [...]
“[Gold]is the canary in the coal mine. It signals problems with respect to currency markets.” — Greenspan According to the New York Sun, only days after the former Federal Reserve chairman Alan Greenspan warned that “fiat money has no place to go but gold,” the dollar has collapsed to a new low. The remarks of [...]
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