Search Results for: gdp

$60 trillion of world debt visualised

Global debt by country

The graphic below breaks down the $59.7 trillion of world debt by country, as well as highlighting each country’s debt-to-GDP ratio using colour. The data comes from the IMF and only covers public government debt. It excludes the debt of country’s citizens and businesses, as well as unfunded liabilities which are not …

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Russia’s GDP shrinks 4.6% due to oil prices and sanctions

Russia Moscow bridge

Russia’s economy suffered a 4.6-percent fall in GDP in the second quarter of 2015 against the same period last year, the worst performance in six years, according to official statistics. A collapse in oil prices and Western sanctions were largely to blame, however improvement is forecast in 3Q of 2015. …

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Australia’s economy goes 25 years without a recession

australia-economy-gdp-recession

By Filip Karinja Australia’s second quarter gross domestic product results have been released showing that the economy grew by 3.3%, making it the strongest growth experienced since the June quarter in 2012. This is now the 100th quarter that Australia has gone without technically experiencing a recession, closing in on the …

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Why banks are no longer needed

Bank icons

What else can we do with the $1.25 trillion we’ll save by eliminating these obsolete financial middleman parasites? A lot. Technology has leapfrogged the banking sector, rendering it as obsolete as buggy whips. So why are we devoting 9% of our economy to an obsolete parasite?  Financial sector profits now …

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Secret TPP agreement exposed by Wikileaks, 40% of global GDP

Wikileaks TPP

Details of a highly secretive, multi-national trade agreement long in works have been published by WikiLeaks, and critics say there will be major repercussions for much of the modern world if it’s approved in this incarnation. The anti-secrecy group published on Wednesday a 95-page excerpt taken from a recent draft of the …

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On this day in 2016

For a presidential election taking place when the US debt/GDP has for the first time in 70 years crossed above 100%, in which over 50 million Americans collect food stamps and disability, in which M2 just crossed $10 trillion, in which total US debt is about to pass $16 trillion, …

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Unsustainable

Pig drowning

When it comes to explaining the problems with our economy, one of the hardest things to do is to get people to understand that we are living in an economic fantasy world that is completely and totally unsustainable.  As a nation we consume far more than we produce, we spend …

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Leaked: Troika requires 6-day working week in Greece

A leaked email sent to the Greek Ministries of Finance and Labor from the Troika says Greek private sector workers should work six days a week and longer hours. The letter, which was published on August 31, shows that the Troika expects the Labor Ministry to implement a number of …

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The End Game: 2012 and 2013 will usher in the end

If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn’t. The founder of Global Macro Investor “previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the …

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8 signs the system is broken

Here are a few interesting tidbits to chew on: 1) In the land of the free, there are now more than 760 incarcerated inmates for every 100,000 citizens. This is more than 5x the 1980 average, and it far surpasses the number (560 per 100,000) that Stalin threw in the Gulag …

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This time had better be different: Australian Housing Prices and the Banks

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

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Bank of America to fire 16,000 by year end

Curious why nearly 4 years ago to the day Ben Bernanke and Hank Paulson told Ken Lewis to purchase Merrill Lynch “or else” (but to make sure everyone gets paid their bonuses bright and early with no cuts)? It certainly had to do with the stock price and preserving the …

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The inevitable decline of retail

Online shopping is rippling through the economy, affecting not just retail but energy consumption and the job market. Correspondent Marc A. responded to my recent entry Is Anybody Else Tired of Buying and Owning Stuff? (September 7, 2012) with an informed commentary on how online shopping is affecting the retail sector. …

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US economy is headed for a recession

US dollar bubble

The United States is experiencing its fifth relapse in five years. This past week the U.S. government announced the country’s economy rose in the January-March 2016 at a mere 0.5 percent annual growth rate. Since the U.S., unlike other countries, estimates its GDP based on annual rates, that means for the …

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It’s a matter of trust

Part 1 “All the world is made of faith, and trust, and pixie dust.” ― J.M. Barrie – Peter Pan         “The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” – Lord Acton Who do you trust? Do …

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Is Australia’s economy set to crash?

Australian consumers are more worried about the medium term outlook than at the peak of the financial crisis, and rightfully so. As The Telegraph reports, by the end of the first quarter this year, Australia’s net foreign debt had climbed to a record $955bn, equal to an already unsustainable 60pc of gross …

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China approves the creation of BRICS bank

China brics bank

The Chinese Parliament has ratified the creation of the BRICS Development Bank. The New Development Bank was conceived as a counterbalance to such Western-led financial institutions as the World Bank and the IMF. The new bank will provide money for infrastructure and development projects in BRICS countries, that is Brazil, …

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Expect a tidal wave entrance into gold – Gerald Celente

gold tidal wave Gerald Celente King World News

Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News.  Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world.  Celente predicted, “a tidal wave entrance into gold,” because “the entire …

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BRICS establish $100bn bank and currency reserves

BRICS nations

The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar. The new bank will provide money for infrastructure and development projects …

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