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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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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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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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work

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Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

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How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"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 f

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Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

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Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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xlarge_japan-quake

“This super destructiv­e Japan earthquake is going to cause American interest rates to jump a percent or two or three — possibly more. Indeed, the Japanese are the number one buyer of U.S. debt bonds. Can’t they cash a load of them in to redeem for reconstruction cash? If they try that the Americans will [...]

(2 votes, average: 5.00 out of 5)
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“We could see $220 a barrel should both Libya and Algeria halt oil production. We could be underestimating this as speculative activities were largely not present in 1990-1991,” said Michael Lo, the bank’s oil strategist. Commodity analysts at Nomura Holdings Inc. said. Brent crude prices could double to $220 per barrel in the coming weeks [...]

(2 votes, average: 2.00 out of 5)
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union_vs_antiunion

“What is happening in Wisconsin clearly shows a disconnection with reality in an economy that has forced many private-sector workers into lower wages and reduced benefits, if they were lucky enough to keep their jobs at all. The outcome of this battle could impact other states where cuts are looming, as well. As this story [...]

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protectionism wall

“Zoellick said he expects food prices to continue to rise, and that export bans and weather disruptions are partly to blame.” He also said global food prices have hit “dangerous levels” that could contribute to political instability, push millions of people into poverty and raise the cost of groceries. After watching the quality of food [...]

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egyptian riots

“Inflation has exhausted people. Prices of food, fuel, electricity, sugar are rising. The rich get richer and the poor poorer,” said a Cairo taxi-driver, declining to be named. “God knows what will happen today. After Tunisia anything is possible.” The Egyptian capital Cairo was the scene of violent chaos Friday, when tens of thousands of [...]

(1 votes, average: 5.00 out of 5)
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british economy pounded

“This is obviously very worrying, just at a time before the VAT increase hits so this looks awfully like the UK is headed back to double-dip,” Blanchflower told CNBC. “I think people have underestimated the sheer size of this shock,” he said. Britain’s “awful” gross domestic product figure for the fourth quarter is pushing the [...]

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chinese takeover europe

“China, in bailing out Europe, is asking for its goods to be allowed in without barriers .. We hope that the EU will relax restrictions on high-tech exports to China … and develop trade relations that are balanced and sustainable,” Mr. Li wrote in an op-ed titled, “China will be more open to the world” [...]

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“The fuel price hike – which protesters were calling the “gasolinazo” – caused the cost of transport to soar, and pushed all food prices up.” — BBC News Bolivian President Evo Morales has rescinded a decree which raised fuel prices by more than 70% and sparked civil unrest. Mr Morales reversed the price rises introduced [...]

(1 votes, average: 5.00 out of 5)
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zimbabwe hyperinflation

“In the US we don’t have a back up system. Zimbabwe had the worst hyperinflation anyone’s ever seen. But, they survived. They had an ongoing economy. That was because of a black market in US dollars. We don’t have a black market in the US. There’s no backup to our system.” — Mac Slavo, Market [...]

(3 votes, average: 4.00 out of 5)
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ben bernanke is devil

“If the world economy gets better, commodities are going to go up in price because there are shortages. If the world economy does not get better, you should own commodities, because (central banks) are going to print more money,” he said. “Real assets are the way to protect yourself.” (Reuters) – U.S. government inflation data [...]

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federal_reserve_global_tentacles

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures. “Has the Federal Reserve become the central bank of the world? I think that is a question that needs to be [...]

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person drowning

“Inflation came in hotter than expected. Markets were expecting to see a 2.2% increase in headline inflation but it came in at 2.4%. The more important piece of information is what happened to core inflation because I think markets will largely look past the increase in energy prices. The more important issue is that the [...]

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bank bailout ireland

“Allied Irish Banks announced Friday it has lost a staggering euro13 billion ($18 billion), or 17 percent, of its total deposit base since June in the latest evidence of cash flight from Ireland’s debt-crippled banking sect.” As a result, the bank said it now planned to try to sell euro6.6 billion ($9.05 billion) in new [...]

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house of 20 dollar canadian bills

“The economist who received an award for being the first to sound the alarm on the U.S. housing bubble, is warning the same could happen in Canada if we aren’t careful. Dean Baker with the Centre for Economic Policy and Research says housing prices here might collapse if interest rates rise by about two percentage [...]

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