Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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Real reason for electricity blackouts hitting southern US

Real reason for electricity blackouts hitting southern US

“Large oil companies have for a decade artificially shorted the gasoline market to drive up prices,” said FTCR president Jamie Court. “Oil companies know they can make more money by making less gasoline.” The following article was written by Paul Joseph Watson. He is t

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"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 devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"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 economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""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,

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FDIC wants your retirement cash to save banks: Bloomberg

FDIC wants your retirement cash to save banks: Bloomberg

“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

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Canadian government admits recovery never happened

Canadian government admits recovery never happened

“Not only did their stimulus fail to create the jobs of tomorrow, it also failed to protect the jobs of today,” Scott Brison, the opposition Liberal Party’s spokesman for finance issues, said by telephone. "Most of us were shaking our heads in disbelief early last year w

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How Western society is brainwashed and crumbling

How Western society is brainwashed and crumbling

"The cultural embrace of illusion, and the celebrity culture that has risen up around it, have accompanied a growing system of casino capitalism, with its complicated and unregulated deals of turning debt into magical assets, to create fictional wealth for us, and vast wealth f

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Will we see double digit interest rates from the 1980s?

Will we see double digit interest rates from the 1980s?

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson Spending is

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Greenspan: credit crunch “by far the greatest financial crisis”

Greenspan: credit crunch by far the greatest financial crisis

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.” Greenspan just said that the current credit crunch

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uncle obama 401k

“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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burning us dollars

“.. 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 [...]

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frustrated police officer laid off

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 [...]

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wallpaper zimbabwe currency

“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 [...]

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federal reserve monster spider and flies people

“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 [...]

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kondratieff Waves

“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, [...]

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handful of loonies

“We’ll start paying it down once we’re back in surplus,” Flaherty said. There is a pool of money untapped by government: the practice of undeclared barter. When an individual says to you “That will cost so much if you pay by cheque but 20% less if you pay cash you know that the cash payment [...]

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no cash value coin

..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 [...]

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housing bubble Bursts

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 [...]

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new zealand bank

“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 [...]

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china shanghai stock market crash recession

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 [...]

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cc home

I doubt anyone can think of a better way to make use of old shipping containers — you know, those ones you find on ships that are pretty large and have “china shipping” painted on them? Those ones. Apparently there are so many of these containers that a wall 8 feet high could be made [...]

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old retiree woman gets fed in hospital

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 [...]

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mcdonalds worker

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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