“Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing,” Farr said today in Chicago. How long will it take for Americans to realize they’ve been had by their own corporations? US jobs are not coming back because the factories will not re-open, because those factories are now in communist China. This did [...]
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“The International Forecaster, Bob Chapman, says that A New System For The Privileged Is Not A Remedy For The Economy.” The current financial crisis in the US and around the world was not a failure of capitalism, but an intentional looting of the world financial system by Illuminist crony fascism sheep-dipped in capitalism. The old [...]
‘It cannot be acceptable that the benefits of success in [the banking] sector are reaped by the few, but the costs of its failure are borne by all of us.’ — British Prime Minister Gordon Brown. It is important that the chartered banks be prevented from entering any financial undertaking that involves significant risks and [...]
“According to Statistics Canada, Alberta experienced the largest job losses in the country.” Alberta, for the longest time, was touted as the economic savior and engine, or `the land of milk and honey`of Canada because of its vast tar sand reserves which were being heavily exploited by the rising price of oil around the globe. [...]
What went wrong? All of those who grew up during the late sixties and early seventies can probably recollect when people earned on average 1/3 of the net pay (in real value) yet most families could afford to live quite comfortable on a single income They also had more leisure time, subjected to less stress [...]
“I am absolutely concerned,” Donegan said. The day the masses were fearing would never appear seems have just materialized by the reality of the giant tiger on the other side of the world beginning to awaken. Since 1994 China has pegged its currency to the US dollar in attempts to siphon manufacturing and industrial bases [...]
“this is now the longest technical recession since at least 1955.” The devaluation of the pound sterling in theory should increase exports of goods from the United Kingdom. However, you must consider that raw materials and energy needed to manufacture products whatsoever are likely to be priced in euros and dollars and devaluing the pound [...]
“Future Governments will face two basic options. They can either lift economic growth above current assumptions or they can cut spending and reduce public services,” Mr English said. New Zealand is an interesting case study because of its changes throughout the years and its experiments with globalization. In the early 1980s as the Pacific nation [...]
‘We are hollowing out our industrial base.’ — Avery Shenfeld, CIBC economist. CIBC calls for loonie intervention ‘Go pick on some other currency,’ CIBC economist Shenfeld says A high-profile Canadian economist has called on the Bank of Canada to use its reserves to defend the Canadian dollar against speculation in extreme cases. In a report [...]
“The Dow is up and many economists see an end to the recession. Try telling that to the rising ranks of those losing their jobs and houses.” — Moira Herbst Investors should not confuse the economy with the stock market, if they both usually follow similar trends. Today, however, the economy and stock markets have [...]
Europe H1N1 flu spreads, ‘millions’ infected in US GENEVA, SWITZERLAND (AFP) – H1N1 flu is spreading faster and claiming new fatalities in Europe, health officials said, as the global death toll from the virus rose to nearly 5,000 victims and the US said millions had been infected. Since the A(H1N1) virus was uncovered in April, [...]
“China has blackleg within their own country,” Weber added. “So it’s a red herring.” It is quite obvious now that the world’s major trading powers, China and the USA, are currently engaged in a trade and financial war. They have been in a tug of war for the past 8 years (2001) since China entered [...]
“The global recession created an “export shock” for Germany as world trade fell by about a quarter.” One reader submitted that prices have increased dramatically in the United Kingdom over the last 2 years, but since two months ago the price of bread, rice, flour and milk have increased to 35% (for rice). Things are [...]
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