Economy

California deficit soars to $16 billion

California, like Greece is perpetually in fiscal trouble. Overoptimistic revenue forecasts coupled with spending $2 billion more than expected has California in a deep hole. Governor Jerry Brown has the same non-solution as ever, hike taxes. Brown wants a “temporary” (as in seven years) tax hike. Given we all know …

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Economic facts: America headed for total collapse

us economy disaster america wake up

According to the major polls, at least 2/3 of Americans think, “things will get better”. Yes, they are that stupid. Let’s look at some plain facts: 48% of Americans are considered either “low income” or living in poverty by the government. 20% of households are on Food Stamps. 1 in every …

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If Greece exits, here is what happens

Now that the Greek exit is back to being topic #1 of discussion, just as it was back in the fall of 2011, and the media has been flooded by groundless speculation posited by journalists who have never used excel in their lives and are merely paid mouthpieces of bigger bank interests …

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The “world’s largest prop trading desk” just went bust

JP Morgan Chase

A month ago we warned that JPM’s CIO office is nothing short of the world’s largest prop trading desk. Not only were we right, but what just transpired is just shy of our worst possible prediction. At the end of the day, the real question is why did JPM put in so much …

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12yo girl’s speech on world debt – AMAZING!!

12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. Yep, you guessed it, the bankers!! [youtube height=”400″ width=”550″]http://www.youtube.com/watch?v=Bx5Sc3vWefE[/youtube]   Source: http://www.publicbankinginstitute.org/

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John Williams: the real unemployment rate is 22% – not 8.1%

Jim welcomes back John Williams from Shadow Government Statistics. John believes the real unemployment rate is 22%, not 8.1%, which is why it still feels like a recession. He also calculates the CPI at 6%, not 2.8%, and explains how the government manipulates the rate of inflation. Lastly, John believes the US is still …

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The countdown to the break up of the Euro has officially begun

The results of the elections in France and Greece have made it abundantly clear that there is a tremendous backlash against the austerity approach that Germany has been pushing. All over Europe, prominent politicians and incumbent political parties are being voted out.  In fact, Nicolas Sarkozy has become the 11th …

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Graphing Groupon’s grotesque governance and “growth”

In case you hadn’t noticed, Facebook is set to IPO very soon but, courtesy of BackgroundCheck.org, we have a breakdown of the dismal truth behind the next best thing since sliced bread – Groupon. Between their ‘dodgy’ growth and desperately poor governance, the SEC is showing a keen interest (or maybe just …

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