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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wallpaper zimbabwe currency

“The result of currency devaluations can be boiled down prosaically: savers get screwed. Remember, it is the Baby Boomers who have the largest accumulation of savings- either in the form of savings accounts, bonds, or home equity- and therefore, the most to lose from a devaluation. ” Contrarian Governments seem to forget that one must [...]

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street lamps mass

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 [...]

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harper snake oil salesman canada bankrupt

“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 [...]

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depression headlines

“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 [...]

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zimbabwean hoardes loads of cash for food

“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 [...]

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venezuela's chavez is elite puppet

“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, [...]

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central bank report card 2009

“”I’m very concerned we’re headed down the same path as Greece,” Rep. Cathy McMorris Rodgers, R-Wash., told Fox News. “Greece found itself in a situation where its public debt was 113 percent of its GDP. They had taken on all this debt, expanded programs and America is headed down the same path.” — Cathy McMorris [...]

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greeks riot in 2008

“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 said Sunday [...]

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burning american passport

“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 [...]

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green weeds and pesticide recession depression

“No laws are more basic than the laws of arithmetic: For fiscal sustainability, whatever level of spending is chosen, revenues must be sufficient to sustain that spending in the long run,” Bernanke told the commission, which was established by Obama in February to give recommendations on ways of balancing the federal budget.” Washington needs to [...]

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say goodbye to greece

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 [...]

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ben bernanke is the devil

“As interest rates begin to rise worldwide, losses in derivatives may end up bankrupting a wide range of institutions, including municipalities, state governments, major insurance companies, top investment houses, commercial banks and universities.” The economy is seriously out of whack. The 25 highest-paid hedge fund managers earned a total of more than $25 billion last [...]

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american freedom made in china

“While the sources for the supposed increases in U.S. consumer spending are murky at best, the amount of consumer spending in and of itself is not a determinant of whether or not economic recovery is taking place.” The banks are making billions and adding extra fees, mortgage rates are going up so banks will increase [...]

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china yuan american dollar center

“My goal over the course of the next year is for China to recognize that it is also in their interest to allow their currency to appreciate because, frankly, they have got a potentially overheating economy,” Obama said. Mr Obama, debt is the problem, not China. The American government debt is well over $50,000 per [...]

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