US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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Canadian banking haven myth exposed

Canadian banking haven myth exposed

"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 Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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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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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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aerial photo commercial real estate

“The American consumer will no longer be able to serve as the motor for the world economy,” said Soros, 79. One reader wrote in: What if the financial system itself is a scam? I’m 62 years old and for my lifetime I have heard that the cookie jar is empty. That the poor could not [...]

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food inflation prices

“It is our belief that massive price inflation has already begun.”– PR Newswire Just remember people, you can only store so much food for so long. It is very important to learn to produce and store your own food and learn how to collect and use wild foods around your area. Only a few generations [...]

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worlds highest standard of living

A false recovery is under way. I am reminded of the outlook in 1930, when the experts were certain that the worst of the Depression was over and that recovery was just around the corner. The PBS Frontline documentary “The Warning” makes a broader point about the indefensible behavior by Wall Street intelligentsia and in [...]

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biden mouth shut

“We (the United States) tax everything that moves and doesn’t move ..” — Quote from Senator Hillary Clinton. The house of cards is beginning to fall. The numbers and optimism from the White House is unsubstantiated. This morning during Obama’s address he stated there will be even more job losses. These are the first truthful [...]

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large pork spending

“In politics, nothing happens by accident. If it happens, you can bet it was planned that way.” –Franklin D. Roosevelt The Republican bailout has done its job. Executives, and other financial mongrels and others are doing well again, but in yet another clear proof that “trickle down” economic theory is wrong, millions of unemployed Americans [...]

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WELFARE STATE

“this is now the longest technical recession since at least 1955.” The devaluation of the pound sterling in theory should increase exports of goods from the United Kingdom. However, you must consider that raw materials and energy needed to manufacture products whatsoever are likely to be priced in euros and dollars and devaluing the pound [...]

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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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empty factory

‘We are hollowing out our industrial base.’ — Avery Shenfeld, CIBC economist. CIBC calls for loonie intervention ‘Go pick on some other currency,’ CIBC economist Shenfeld says A high-profile Canadian economist has called on the Bank of Canada to use its reserves to defend the Canadian dollar against speculation in extreme cases. In a report [...]

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pbs the warning

Below is a very interesting documentary that we found very informative and educational and thought we’d share it with you, the readers, to spread with other people you know to prove to them that this crisis was manufactured and could have easily been prevented. In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden [...]

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closed value city store

“Forecasters predicted a higher reading of 53.1. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.” — Ashley M. Heher, AP Retail Writer Instead of a white Christmas — a term coined to the holiday season and day of Christmas when snow covers the ground — may be [...]

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elderly counting money

“Today the average couple is struggling with mortgages that are consuming 50% or more of their income.” — Pushing Hamburger Is it any wonder they do not vote as much as old people, and is it any wonder that many do not see a point in attending college for jobs promised but never materialize or [...]

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tortoise and hare

“The Dow is up and many economists see an end to the recession. Try telling that to the rising ranks of those losing their jobs and houses.” — Moira Herbst Investors should not confuse the economy with the stock market, if they both usually follow similar trends. Today, however, the economy and stock markets have [...]

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us debt default australian

”The US dollar is almost becoming like junk bonds,” Australian Joyce said. A default by the U.S. government is a certainty in many analysts’ opinions because there is too much overall debt in their country. Total debt as a percentage of GDP is close to 400% and that’s not counting personal, business, finance, and government [...]

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welcome to nwo

“The global recession created an “export shock” for Germany as world trade fell by about a quarter.” One reader submitted that prices have increased dramatically in the United Kingdom over the last 2 years, but since two months ago the price of bread, rice, flour and milk have increased to 35% (for rice). Things are [...]

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