“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 [...]
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“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 [...]
“Trade protectionism is obviously intensifying with some countries using self-innovation, government procurement and the yuan exchange rate to exert pressure on China.” — Mr Zhang Ping minister of the National Development. Yes, free trade is communism. Watch the video below Everyone is talking about the economy lately (and no surprise there). We are all being [...]
“While a 25% decline is unprecedented in modern times, some economists are beginning to talk about it. “We now see potential for another 25% to 30% downside over the next two years,” says David A. Rosenberg, North American economist for Merrill Lynch (MER), who until recently had expected a much smaller slide. “ Sickening isn’t [...]
“At the news conference Booker also quoted as saying, “Call me Mr. Scrooge, if you want, but they’ll be no Christmas decorations around the city.” The average taxpayer sees government waste every day, yet the politicians are blind to it. It’s not a matter of cutting a hundred million here and there. It’s a matter [...]
“.. 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 [...]
Wang Rong, who is six-months pregnant, is about to leave Beijing for California so she can give birth to her baby in the United States and give the child its first gift – US citizenship. According to little Tommie Friedman in the New York Times China is supposed to be like heaven whereas America is [...]
“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 [...]
“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 Conservative cabinet ministers flying around the world defending banks from a tax to cover their [...]
“You can’t take a country that’s over-borrowed and make it more creditworthy by lending it more money,” he said. “They’re throwing Greece further and further and further in the hole by not addressing the problem directly and properly.” Asked when a Greek default could happen, Weinberg answered: “at High-Frequency, we are advising people to take [...]
“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 [...]
“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 [...]
“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” [...]
“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 to [...]
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