The day of reckoning for global total debt – total credit market debt up from $28 trillion in 2001 to $53 trillion in 2012. US consumer debt went up in last few months but largely because of giant amounts of student loan debt taken on.
You have to really question what passes for financial analysis these days. One financial show was discussing the recent increase in consumer debt as something positive. [...]
Sick and tired of the United States looking like a “third world country” and outsiders coming here to “suck the blood out of this country,” quirky developer and TV personality Donald Trump is eyeing a new super PAC to help defeat President Obama.
Presumably, the super PAC would also act to help Mitt Romney, who Trump has endorsed. Money shouldn’t be an issue for the wealthy casino, golf course, resort and [...]
April 15, 2012
George Soros has gone to Berlin to tell the Germans that their policies are leading to the disintegration of not just the Euro, but Europe itself.
Yesterday in a panel on the “Future of Europe” at a conference organized by the Institute for New Economic Thinking, Soros said:
The Euro has really broken down. It has sprung defects, some of which could have been anticipated and some were anticipated. [...]
When I arrived in Mexico going on ten years ago, it was a mildly sleepy upper-Third World country, whatever that means—corrupt but not dangerous, not rich but hardly poor, barely middle-class overall and climbing, the mañana thing seldom noticeable, and women pouring into the professions. I parodied the American conception of Mexico as perilous hell-hole because it wasn’t. Not even close.
Then in 2006 Felipe Calderón became president, and declared war [...]
How The U.S. Will Become A 3rd World Country (Part 1)
The United States is increasingly similar to a 3rd world county in several ways and is accelerating towards 3rd world status. Economic data indicate a harsh reality that obviates mainstream political debate. The evidence suggests that, without fundamental reforms, the U.S. will become a post industrial neo-3rd-world country by 2032.
Fundamental characteristics that define a 3rd world country include high unemployment, [...]
As a P.T. (often referred to as perpetual traveller, permanent tourist or prior taxpayer), I have travelled to nearly 100 countries. During those travels there has always been one defining moment, upon entry into a country, which shows that the country is what is generally thought of as a “third world country”.
It is the moment when, upon arrival, you are charged a fee to enter the country. The reason generally [...]
That’s exactly right. What is transpiring in The Banana Republic of America (the Third World hellhole that used to be the United States) is not “capitalism” or “free enterprise” any more than it is “socialism.” It is corporatism. It is, as Gerald Celente has often pointed out, fascism, which Benito Mussolini, a.k.a. Il Duce, defined as the merger of state and corporate power.
“People rail [...]
Oakland Bay Bridge Built in China | Economy In Crisis
“At first it was just cheap, easy-to-make goods like children’s toys. Then it was high-tech electronic equipment. Now it’s infrastructure.
One of the largest and most costly infrastructure projects in American history will be made using steel that was produced 6,500 miles away, in China.
The San Francisco-Oakland Bay Bridge project is nearing completion, according to The New York Times.
The $7.2 billion project [...]
It’s like something you’d expect in a third world country. During one of the hottest summers on record, a utility company in Detroit has announced it will turn off the air conditioners despite the National Weather Service issuing an Excessive Heat Warning for all of Southeast Michigan.
From CBS News yesterday:
The excessive heat and higher electrical demand has led DTE Energy to begin intentional rolling blackouts in one [...]
“Obama accused his Republican foes of wanting to turn the United States into a “Third World” country”
I beg to differ! More Obama doublespeak! Obama is the one doing it, but BLAMING it on someone else!
We are paying about $500 billion this year in interest at about 3.5%. Wait till that $500 billion becomes $1,500 billion in a few years when [...]
“That’s really the life’s blood of the country,” Trump told CNBC in a phone interview on Monday. The Trump Organization chairman, who says he’s considering running for president, plans to decide “before June” on the matter.
He contended that Obama is not a leader and is “in bed with these (OPEC) people. He doesn’t speak the way you have to speak to them.”
Although he [...]
There is and will be cyclicality and noise in price movements and obvious large variations across zip codes but for 90 % of the zip codes real prices will continue to erode( and in terms of gold or oil , implode), with quite devastating cumulative long term consequences for the real net worth of middle and lower middle class families, since the vast majority of financial and non real [...]
by Louis Ciola
The Chinese are now doing what the Russians used to do all the time, cloning any major weapon or invention that they might need. The Americans, liike the Russians, are both greedy and cash strapped and continue to do business with the Chinese and this is the end result.
What’s going to happen to all the greedy American companies when China gives them the boot? They already bought [...]
In USA, Banksters did it to the Country. Greece didn’t buy any subprime mortgages, no housing bubble just the Govt ( Public sector) over spent and voted themselves beyond their means for the last decade. At the same time Books were cooked. Tax evasion is national past time. Tax collectors who saw the corruption and fought against it , got DEMOTED!
In Greece it is the COUNTRY which did to the [...]
The United States by every measure is hanging on by a thread to its First World status. Saddled by debt, engaged in wars on multiple fronts with a rising police state at home, declining economic productivity, and wild currency fluctuations all threaten America’s future.
The general designations of the ranking system for world status date back to the 1950s… Since the Cold War, the definition has [...]
In honor of the fact that household ownership of municipal bonds — a $2.8 trillion market — now exceeds $1 trillion for the first time ever, indicating that Americans are extremely comfortable with the credit exposure they have to state and local governments, I bring you the following report from Toronto’s Globe and Mail, “California On ‘Verge of System Failure,Ã¢â‚¬â„¢” which makes you wonder just what those investors — gamblers? [...]
Any way you look at it, your state and federal taxes probably will steadily increase, even as services are reduced or entirely eliminated. Welcome to the decade of austerity.
This is exactly the reason you will not see another Great Depression. The standard of living will grind lower and lower over the next 50 years, no one will even notice.
That is why I continue to tell people that no “BIG EVENT”, [...]