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December 19, 2012; An American Reckoning
An American Reckoning, a preview: Is gold manipulation a factor in price? Standard Podcast Hide Player | Play in Popup | Download Doubling The Tax Rates For Rich Is Not Even Enough To Close The Deficit THE FINAL CRASH – THE END OF U.S. DOMINANCE IN 2013 – Part Two – The Economic Crash of 2013 Regardless of the outcome of [...] America faces two more years of legislative deadlock as the Republicans held on to the House of Representatives and the Democrats retained control of the Senate following last night’s election. Politicians may be pleased that their respective parties held on to the control of the legislative houses, but it is the American people who are likely less thrilled about the impending gridlock. The passage of bills is significantly easier when the same [...] If French Fitch, which will first be Egan-Jonesed than downgrade France from its unmovable AAA rating is starting to say that the unthinkable, namely the departure of Greece from the Eurozone, would be “bearable”, then things are about to get once again exciting, as this is merely setting the stage for the next leg down. Among the other google translated gibberish said by Fitch chief Taylor, here is the argument: [...] Wolf Richter www.testosteronepit.com Greeks yanked €65 billion out of their bank accounts since 2009, Finance Minister Evangelos Venizelostold parliament on Friday. “Of that total, €16 billion has been legally taken abroad,” he said. The rest? Stashed under mattresses or hauled to Switzerland via the land route. A whopping 20% of GDP! Capital flight of massive proportions. They see a forced conversion of their euros to drachmas. With good reason. “The case of Greece is hopeless,” said [...] Finian Cunningham Officially, America is now bankrupt: financially, economically, politically – and morally. Its criminal aggression towards Iran is just one of many parts of a jigsaw that add up to a clear and grotesque picture of what the United States of America now represents in the 21st Century world. The numbers and pictures for these constituent parts of this odious jigsaw puzzle are well known. But what has [...] by ZH The market seems to be driving the change in the direction of membership changes (via restructurings and temporary devaluations – e.g. GRE CDS and WI Drachma) while the euro-zone-’management’ seem prone to structural changes (i.e. EFSF umbrella, Euro-bonds, and fiscal union). While the cost of either approach is likely extremely high, some research from early Summer by ESCP Europe suggests a non-trivial approach that reduces [...] Earlier this month, Rep. Chaka Fattah, a Pennsylvania Democrat, floated the idea of imposing a tax of 1% on every transaction to pay down the national debt. The pencil-necked geeks in the district of criminals took one look at this and scoffed. It would need to be closer to 5-6%, they argued, in order to pay down even a small part of an astronomical debt. Of [...] When the USA had import tariffs, US Corporations were protected from the cheap labor competition outside the country. Business was happy, the Gov’t was happy, Unions were happy, and US workers were happy. It would still work today. Sure, with strong labor, we’d be paying [...] Both the current and previous administrations have done every single imaginable thing WRONG to stabilize this economy. The Depression they claim they have “saved” us from is now guaranteed. Both Bernanke and Greenspan love bubbles, they cannot get enough of them. We have so many out there now, there aren’t enough tacs in the world to pop them all. We have not had the correction yet people, so buckle up! Use the [...] |
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Portugal’s PM uses Facebook to describe his pain at announcing more austerity – and is savaged by voters in the comments
A Facebook post by Portugal’s prime minister bemoaning the difficulty of announcing yet more austerity measures has sparked furious response from recession-hit Portuguese voters.
Pedro Passos Coelho posted his message on the social networking site on Saturday. By Tuesday morning it had attracted more than 47,000 mainly critical comments.
Most of those responses attacked Mr Coelho over the unfairness of the measures or by detailing the penury faced by ordinary citizens in [...]