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U.S. sees highest poverty spike since the 1960s, leaving 50 million Americans poor as government cuts billions in spending… so does that mean there’s no way out? The number of Americans living in poverty has spiked to levels not seen since the mid 1960s, classing 20 per cent of the country’s children as poor. It comes at a time when government spending cuts of $85 billion have kicked in after feuding Democrats [...]
ITALIAN STOCKS PLUNGE NEARLY 5% — Borrowing Costs Surge After Upset On Election Night FTSE MIB http://www.businessinsider.com/italian-stocks-fall-and-borrowing-costs-rise-after-italian-election-2013-2 Italy 10yr /quotes/zigman/3483462 4.76 +0.33 7.47%
http://www.marketwatch.com/# ECB bond-buying program may not be there to save Italy! Italy’s inconclusive election results have thrown financial markets into a tizzy.
http://blogs.marketwatch.com/thetell/2013/02/26/ecb-bond-buying-program-may-not-be-there-to-save-italy/
The Spanish Market Is Collapsing Too http://www.businessinsider.com/spanish-market-falling-after-italian-elections-2013-2 Berlusconi won’t ally with Monti’s party: report http://www.marketwatch.com/story/newsviewer Gregor Peter‏@L0gg0l Big Italian bill auction today … € 8.75 bln in short-term debt Banks Are Diving [...] eutimes.net / December 28, 2012 It seems that migration policies of a leading country in Europe, France, are seriously changing. The country is no longer able to hold back the crowd of migrants, many of whom do not want to integrate into the social and economic life of their new home country. The upcoming radical changes for migrants were announced by French Interior Minister Manuel Valls. After a meeting on the National Immigration [...]
Britain is facing at least 5 more years of austerity. The country’s finance minister says there’s no ‘miracle cure’ for the country’s economy. The highly anticipated Autumn Statement by George Osborne brought little relief for a public already angered by government cuts. http://www.youtube.com/watch?v=fc7kXASr9kI&feature=player_embedded The scale of unpaid tax now outstrips the entire deficit. Forcing the elite to pay up is a matter of both justice and necessity ‘Only the little people pay taxes,” the late American corporate tax evader Leona Helmsley famously declared. That’s certainly the spirit of David Cameron and George Osborne’s Britain. Five years into the crisis, the British economy has just edged out of its third downturn, but construction is still reeling [...] As many as 200,000 angry public sector workers staged a day of protest on Thursday, taking to the streets of London to voice their disgust at proposed government cuts. Among the demonstrators were civil servants, lecturers, health workers, Ministry of Defence staff, and immigration officers – fueled by ministers’ vows to press ahead with the controversial reforms, made clear in yesterday’s Queen’s Speech. About 20,000 off-duty police officers from all 43 forces across [...] Armed robbers have stolen dozens of artefacts from a Greek museum dedicated to the history of the early Olympics. Two masked men smashed display cabinets and took more than 60 objects after overpowering a guard at the museum in Olympia, officials said. The town’s mayor said the items, mostly bronze and clay statuettes, were of “incalculable” value. Culture Minister Pavlos Geroulanos has tendered his resignation, but it has so far not been accepted. He [...] The NUS says it has anecdotal evidence of students taking to the streets to earn money (BBC News) Greater numbers of students in England are turning to prostitution to fund their education, the National Union of Students (NUS) claims. The NUS also says students are turning to gambling and taking part in medical experiments to fund their studies. It says increased living costs and fees, and cuts to the education maintenance allowance, [...] The BRC says May’s dip in sales is a more accurate reflection of customers’ attitude to spending Retail sales dipped in May as a result of customers’ unwillingness to spend, say retailers. The British Retail Consortium (BRC) said May sales values, taking out the effects of closures and new stores, fell 2.1% compared with 2010. It said rises in previous months were a “distortion”, owing to a late Easter, [...] 1) EU Raises Greek Deficit Forecast, Boosting Calls for New Bailout? “May 13 (Bloomberg) — Greece, Ireland and Portugal, the euro region countries that needed 256 billion euros ($366 billion) in emergency aid to avoid default, may all see their debt loads exceed the size of their economies this year. Greece’s debt, already the biggest in the euro’s history at 143 percent of gross domestic product last year, will [...] By Paul B. Farrell, MarketWatch
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, tax the Super Rich. Tax them now. Before the other 99% rise up, trigger a new American Revolution, a meltdown and the Great Depression 2. Revolutions build over long periods — to critical mass, a flash point. Then they ignite suddenly, unpredictably. Like Egypt, started on a young Google executive’s Facebook page. Then it goes viral, [...] by Sunny The extent of FRAUD is mind boggling and has involved ALL the major banks in ROBO-SIGNING, violating Processing and Servicing agreements(PSA), Uniform commercial codes (UCC). local/County laws in registering transfer of properties+title, State Security laws and the worst of all – violation Security Laws of state of NY upon which MBSs depend as agreed by the Industry. There so many GAPS between the ‘originator’ and the final holder of [...] by LFM House prices in UK crashing again: UK Consumer Nationwide Consumer Confidence Index plummets, falling to lowest level in over a year: India economic growth falls to much lower than expected: RAF chief warns UK government cuts in military and slashing air force will endanger UK: Greenspan says more quantitative easing and stimulus going on for over 2 years now is a very dangerous game risking the entire financial system all over again: Japanese banksters [...] UK passenger traffic in August is down from last year: UK austerity measures with government cuts now risking 40,000 police officer jobs: UK Postal services to be privatised, with debate on massive job losses and increases in postal charges: Deutsche Bank tried to raise $11.4 Billion: There are announcements at very regular intervals, most days now about further cuts and austerity measures. Another item added on the BBC website about cuts in UK fire fighters, [...] By contrast to spending $Billions on projects in UK austerity measures to attempt to even keep sovereign debt where it is now which is at record highs and close to default levels, means cuts. Connaught, UK housing giant and one of the largest real estate companies goes bankrupt, as UK first round of austerity measures with government cuts in building projects and cancelations of government paid for private contracts, then [...] http://www.dailymarkets.com/forex/2010/05/03/greek-debt-crisis-7-more-lean-years/ Greek Debt Crisis: 7 More Lean Years By Daily Reckoning on May 3, 2010 “Capital is going on strike,†The Richebacher Society’s Rob Parenteau warned us late last week when he swung by our Baltimore offices for a quick interview and update on the crisis. Rob was early…and right on the money with his analysis of the event. Soon Greek citizens will see their taxes at record highs and public pensions and benefits [...] |
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