“The government is preparing a banquet for 300,000 people, but inviting 3 million to partake,” said pensions expert Alberto Bonadona. “It will collapse.” Jacob Funk Kierkegaard, an economist at the Peterson Institute in Washington, says he knows of no other country lowering its retirement age at a time when higher life expectancy is burdening national [...]
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“.. 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 [...]
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 find [...]
“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 [...]
“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 with all investors.” It should be very very obvious that all future [...]
“The cost of money just got a lot more expensive for everyone.” — Citizens Bank commentary Now, just as Bear Stearns was a harbinger of a string of failures of overly leveraged investment banks, the concern is that Dubai could be the canary in the coal mine for heavily indebted countries. The debts of everyone, [...]
..the FDIC is contributing to the deflationary trend. It has “tightened rules on required capital levels,” which forces banks’ loan ratios to fall. The FDIC Anesthesia Is Wearing Off November 20, 2009 By Robert Prechter The following article is an excerpt from Robert Prechter’s Elliott Wave Theorist. For more information from Robert Prechter on bank [...]
All the news reports from US and 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 low interest rates made houses and condos too expensive, especially compared to the price of renting equivalent properties. Logic dictates that this [...]
“Future Governments will face two basic options. They can either lift economic growth above current assumptions or they can cut spending and reduce public services,” Mr English said. New Zealand is an interesting case study because of its changes throughout the years and its experiments with globalization. In the early 1980s as the Pacific nation [...]
New Edition of Conquer the Crash to Be Released in Late October October 14, 2009 Bob Prechter first released Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression during a stock-market high in 2002, and it quickly became a New York Times–bestseller. Now he has updated the book with 188 new pages [...]
By Alex Brummer of The Daily Mail Gordon Brown was warned last night to raise the retirement age above 65 and introduce NHS charges to tackle the soaring state deficit. In a devastating intervention, the International Monetary Fund called for radical changes to the pension system and spending cuts that go far beyond the plans [...]
Today’s youth have a problem that stems far from the stereotypes of their being lazy, apathetic, and civically challenged. Today’s youth see the deterioration of their working futures; the deterioration of their families; and the destruction of culture. Young people are blamed for being apathetic of their politicians and government. “Perhaps this is why teachers [...]
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