Let’s talk a bit about these supposedly broke governments that have been reaching insolvency, and in cases like Iceland in 2006 and Argentina in 2001, have declared bankruptcy. It seems to most, as it would to anyone not ideologically retarded, that for all the public “brokeness” going on, there is always enough money for a [...]
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State Controller John Chiang issued a stern warning Friday about California’s cash reserves, telling legislative leaders and Gov. Arnold Schwarzenegger they must act on nearly $9 billion in budget cuts the governor is seeking by March — or the state will run out of cash to pay its bills. — Denis C. Theriault Mercury News [...]
“The legislation would put the government on track for a national debt of $14.3 trillion—equal to about $45,000 for every American—and provide a vivid reminder of the United States’ dire fiscal straits. New estimates released by the Congressional Budget Office on Tuesday show that the U.S. this year could run a deficit matching last year’s [...]
“We’ve lost a couple of decades of demand in the U.S. economy because of the de-leveraging that’s happened,” Wall Street observer James Dale Davidson says. America has spent too many years focused on the service industry by design to de-industrialize the economy thus making it easier for the process of bankruptcy. It has been so [...]
“Reading the newspapers these days, you have to wonder whether Canada was on another planet when the global credit crisis hit.” — Murray Dobbin All the news reports from Canadian real estate associations touting that the housing “recession has ended” is just about as worthless as the hot air coming out of politicians mouths. Very [...]
“This year we will continue to control the pace and demand of the credit supply,” Mr. Liu said at a conference in Hong Kong. All banks, he added, had been ordered to “heighten their vigilance against an impossible, embedded credit risk.” For about a year now, China has been giving signs and exerting influence on [...]
“Frugality is the new fashion and likely to stay that way for years,” highlighting a secular shift toward prudence and conservatism because households are traumatized, tapped out, and mindful of a bleak outlook. The few greedy cheaters among us have been a major factor in the creation of the impression of economic growth that led [...]
“Economists are worried about consumer spending in the months ahead given their forecasts that unemployment, currently at 10 percent, will keep rising until perhaps midyear.” Obviously the only way sustainable growth can occur in this and all countries is by private growth because government growth is false growth. Government spending tax dollars in an attempt [...]
“Venezuela’s decision to devalue the Bolivar culminates an event that the market has been anticipating for a long time,” said Walter Molano, an analyst at BCP Securities. “It helps alleviate the country’s fiscal woes and puts it on a sounder macroeconomic footing.” The currency devaluation that Venezula implemented allows them to sustain the nominal value [...]
A very old New World Order warning.. open your eyes.. now. The CFR is the creator of the United Nations and as such it dictates and influences United Nations policy. The United Nations is destined to be the guard and keeper of the New World Order.. a term used by occultist Adam Weishaupt.. and later [...]
Crackdown: China has stepped up efforts to halt the explosive growth in credit. China is seriously harming Western economies and a number of local jobs at the same time promoting the sub standard pay to their own people with very poor quality control and safety only to ensure growth is sustainable; this is a very [...]
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