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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burning us dollars

“.. 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 [...]

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deeply in debt couple

“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 [...]

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banana republic

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 [...]

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washington ghost mall

“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 [...]

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the great recession or third depression

“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 [...]

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student loans debt bondage

“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. [...]

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empty shopping cart retail slump

“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 [...]

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world dictators

“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 [...]

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hungarian pm resigns amid economic crash; bolond

“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 [...]

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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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canada's mediocre healthcare

“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 [...]

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spanish matador irael lancho gored

“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 country’s [...]

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miami bankruptcy women beach

“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 Greece” [...]

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