“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 [...]
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“Blacks across America are drowning in debt and, unless they start putting finances in better perspective, their future freedom is at stake. ” Rev. DeForest Soaries, pastor of First Baptist Church of Lincoln Gardens in Somerset, N.J. A very wise mother used to have a saying: “It’s not the high cost of living that’s the [...]
Batts said the 80 officers slated to be laid off – mostly new officers – are “pretty sad and pretty depressed,” and those feelings are shared by the Police Department as a whole. Sadly during the coming economic depression we’ll be seeing more and more of our men in blue being laid off to find [...]
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 [...]
“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 [...]
“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 economic indigenisation regulations. “Zimbabwe has no elected government. The coalition government has failed to implement the global [...]
“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 [...]
“The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth for our elite. Corporations, behind the smoke screen, have ruthlessly dismantled [...]
The whole “cut them loose” argument regarding Greece’s gargantuan moutain of debt and its inability to pay the interest is ignorance. Looking back in recent history (2002 to present) when Argentina defaulted on its mountainous debt, 20 percent of the Italian pension system went with it and hundreds of thousands of Europeans lost a significant [...]
“If we don’t do it, you know this whole city is going to go down. I’m hopeful people will understand that,” Bing said. “If we can incentivize some of those folks that are in those desolate areas, they can get a better situation.” Detroit Mayor Bing emphasizes need to shrink city Mayor says it’s not [...]
“This year we will continue to control the pace and demand of the credit supply,” Mr. Liu said at a conference in Hong Kong. All banks, he added, had been ordered to “heighten their vigilance against an impossible, embedded credit risk.” For about a year now, China has been giving signs and exerting influence on [...]
How do these nine politicians keep the exchange rate low? They buy U.S. dollars. Importantly, these nine men don’t just sit on stacks of dollar bills… They invest those dollars in U.S. Treasury bonds. China wants to take advantage of the global economy, but refuses to play by the rules. If they do not trade [...]
Crackdown: China has stepped up efforts to halt the explosive growth in credit. China is seriously harming Western economies and a number of local jobs at the same time promoting the sub standard pay to their own people with very poor quality control and safety only to ensure growth is sustainable; this is a very [...]
Nearly 12 years of incompetence of this government’s work and the cracks show in the economy of the United Kingdom, but we should lay the blame where it started: Margaret Thatcher! She began the destruction of the manufacturing base of the United Kingdom, deregulation of the financial system, backed by the oil economy of the [...]
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