Your number one source for news about the coming economic depression

“.. 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 [...]

Batts said the 80 officers slated to be laid off – mostly new officers – are “pretty sad and pretty depressed,” and those feelings are shared by the Police Department as a whole.
Sadly during the coming economic depression we’ll be seeing more and more of our men in blue being laid off to [...]

“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 [...]

“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 [...]

Food staples like rice nearly tripled in six months and at times increased 50% in just two weeks, primarily because of record oil prices and a weak dollar in 2008.
Presumably the rise in cost is due to the balance of supply and demand. Presumably too, the rise in production of biological fuels and other [...]

“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 [...]

According to this article, Shaul Mofaz, an Israeli cabinet minister and former military chief and defence minister has said in a published interview that “Israel would have no choice but to attack Iran if it doesn’t halt its nuclear program.” The article then goes on to say that “Mofaz has been Israel’s representative in 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 [...]

“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 [...]

“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, released [...]

“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 [...]

“The U.S. Department of Commerce said yesterday that it has set preliminary anti-dumping duties on refined Chinese and Mexican copper pipe worth hundreds of millions of U.S. dollars.”

You cannot create a country’s “middle-class” by “big” socialist government civil servants sustain by low wage earners heavily taxed using their beer wages to create middle-class civil servant’s [...]

“A rumor that Spain will ask for 280 billion euros of aid money in order to deal with its debt is running in the past few hours in trade rooms. This is what’s bringing down the Euro.”

It appears that bailing out Greece wil not be enough to save the European community as Spain is another [...]

“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 [...]

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 [...]

“The International Monetary Fund (IMF) has proposed new taxes on financial institutions to cover the costs of future potential bailouts, leaked documents show.”

According to the IMF proposals circulated to the Group of 20 advanced and developing countries on Tuesday, the measures would see all institutions pay a bank levy as well as a further [...]

“Who are they trying to kid?” Bittner says. “Are they trying to make you think it’s better so you’ll go out and spend?”

Well, yes. The nation’s fragile consumer confidence, which sank to a record low about a year ago, could keep the fledgling economic recovery stuck in first gear, says Ken Goldstein, an economist at [...]