Your number one source for news about the coming economic depression

“We’re on the cutting edge here. We’re the tip of the spear,” said Magdalena Prado, Maywood’s community-relations officer, who works for the city as a contractor. In Canada, “I’m gonna go over this with a fine-tooth comb — it isn’t over,” an angry CUPE Local 82 president Jim Wood said of the staff [...]

“At the news conference Booker also quoted as saying, “Call me Mr. Scrooge, if you want, but they’ll be no Christmas decorations around the city.”
The average taxpayer sees government waste every day, yet the politicians are blind to it.
It’s not a matter of cutting a hundred million here and there. It’s a matter of stopping [...]

“Up to 60,000 police officer jobs could be lost in the next five years as the government seeks to eliminate the national debt, according to research published today.”
What are some solutions to this budget crisis? make the existing officers more effective. Stop the theatrics involved in a pulling over a motorist to issue a [...]

“.. just last week, the United Nations released a report concluding that the dollar should no longer be the world’s reserve currency because it is not stable enough. The dollar is down 5% over the past month, and even currency traders don’t see it as a safe haven any more.”
The US dollar would almost certainly [...]

“I don’t know that I’ve every heard a gloomier picture painted that created more hope for me,” said Arkansas Gov. Mike Beebe (D). I have no idea what’s going to happen on Election Day but it’s going to be disruptive . . .,” he said. “It’s going to be a big wake-up call around the [...]

Free Trade is not about manufacturing. It is about allowing the Rich Folks unfettered access to banking centers and investment houses off shore. It is about the establishment of a world government with common humans nothing more than livestock to be used.
Free Trade is an “Impossible Ideal”. It was a lie! A Charade because [...]

“Less than 400,000 square feet of new strip mall space was added in the second quarter, so increases in the national vacancy rate are coming from existing properties bleeding out, not from new properties,” Calanog said.
July 7 (Bloomberg) — Vacancies at U.S. neighborhood and community shopping centers moved closer to the highest on record in [...]

“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 [...]

“You certainly don’t need a college to gain knowledge. For example, there’s an outfit called The Teaching Company that hires the very best professors in the world in all sorts of subjects to deliver superb audio courses.”
Unfortunately for students, this year proved very difficult in the job market with record unemployment levels among students. [...]

“The reason that consumers are not spending more money has nothing to do with attitudes. The reason that most consumers aren’t spending is the same reason that homeless people aren’t spending much money: They don’t have any money.” — Dean Barker, Counterpunch
Credit cards are the bane of Western society’s existence. Perhaps they are a [...]

“Mr Monks, now head of the European TUC, said: ‘I had a discussion with Barroso last Friday about what can be done for Greece, Spain, Portugal and the rest and his message was blunt: “Look, if they do not carry out these austerity packages, these countries could virtually disappear in the way that we know [...]

“According to several reports, a spokesman for the new prime minister of Hungary, a member of the European Union that does not use the euro currency, said that talk of a Hungarian default is not “an exaggeration.”

Hungary truly is a welfare state. It’s a nation of 10 million that has three million pensioners. Besides money [...]

“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 [...]

“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 [...]

“Ontario says healthcare could eat up 70 percent of its budget in 12 years, if all these costs are left unchecked. “Why are we paying more or the same for cataract surgery when it costs substantially less today than it did 10 years ago? There’s going to be a finer look at what we’re paying [...]

“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 [...]

“We [Miami] are not the only city, municipality to be going through this. It looks like Los Angeles sometime next week or the week after will be going bankrupt. It looks like there will be 30 more cities following suit.” New Jersey Governor Chris Christie said the state is “careening our way toward becoming [...]

“Carolyn Angelette said around 100 clients have canceled summer rentals in Grand Isle, LA. Other clients have postponed plans to buy a home until they see the full extent of oil damage. At this rate, she warns, her Century 21 office will go out of business.”

It is obvious BP will be in litigation for decades [...]

“People have looked at Greece over the last three to four months and now they’re focusing their attention on Spain and its banking sector,” said Aroop Chatterjee. Tensions on the Korea peninsula also buoyed the dollar and yen after South Korea’s Yonhap news agency said North Korean leader Kim Jong-il had told his troops [...]

“”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

The [...]