“There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart. A new pricing survey of products sold at the world’s largest retailer showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close [...]
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“”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, Financial Times contributor. “Well, [...]
“If we end up 12 months from now with countries taking protectionist measures, everyone will suffer. I think the absolute imperative for this weekend [at the G20] is a clear demonstration that every member of the G20 recognises that the imbalances are a problem . . . If we don’t do that then I fear the next 12 months [...]
“Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.” National debts are not a nation borrowing against its future success. They are a benefit for a current generation to [...]
Bank of England governor Mervyn King has warned that tensions between countries over their respective exchange rates could degenerate into trade protectionism amid talk of a potential ‘currency war’. So basically, economists and finance ministers who brought up the fear of a currency war are now saying it’s nothing to be afraid of and everything [...]
“Home buyers looking to buy out of foreclosures will step back from the market. Mortgagors considering strategic default will see less risk in doing so, thus leading to more defaults. Throw in the lawyers and the politicians and it’s a perfect storm of uncertainty, gridlock and wealth destruction. Just what we don’t need right now. [...]
“People are anxious, their finances are in trouble and regrettably they are turning to insurance fraud as a way to shore up their financial difficulties,” said Jim Quiggle, communications director for the Washington, D.C.-based group.” Insurance is the biggest scam going and government laws that ‘assure our security’ come second. Consumers should collectively refuse to [...]
“We will stop foreclosure sales until our assessment has been satisfactorily completed. Our ongoing assessment shows the basis for foreclosure decisions are accurate. We continue to serve the interests of our customers, investors and communities. Providing solutions for distressed homeowners remains our primary focus.” Bank of America said Friday it is halting all foreclosure sales [...]
“This would, of course, be a sister government ponzi scheme working in tandem with Social Security, the primary purpose being to give big government politicians additional taxpayer funds to raid to pay for their out-of-control spending,” writes Connie Hair. The government is preparing to seize the private 401(k) pensions of millions of Americans while enforcing [...]
“No other financial crisis since the Great Depression has led to such widespread dislocation in financial markets, with such abrupt consequences for growth and unemployment, and such a rapid and sizable internationally coordinated public sector response, the note [IMF report] said, highlighting the severity of the global situation. One way to measure the depth of [...]
“We’re in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness,” he [Brazilian finance minister Guido Mantega] said. The world is in the midst of an “international currency war” according to Brazil’s finance minister as governments force down the value of their currencies [...]
“In the 50′s and 60′s anybody could walk into a job; there weren’t the armies of unemployed men living in their parents basements; they could easily walk into any number of jobs .. Young people today have plenty of work ethic, they are just not valued at all, treated as disposable bits of garbage to [...]
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