Most of the worst financial panics in history have happened in the fall. Just recall what happened in 1929, 1987 and 2008. Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button. Wave after wave of bad economic […]
Tag Archives: Economic meltdown
When a banker speaks he lies!!! This is something you don’t see on New Zealand MSM so you have to get it form sites such as mine.
Sunday Bollard reported that our economic woes were over. Not that we could expect to ever take out loans as easy as before and we had to learn to live within our means but basically we could go back to sleep. But is that a wise thing to do? Let’s start with the fact that […]
Very interesting article abvout who might have single-handedly crashed the financial system. Almost a year after A.I.G.’s collapse, despite a tidal wave of outrage, there still has been no clear explanation of what toppled the insurance giant. The author decides to ask the people involved—the silent, shell-shocked traders of the A.I.G. Financial Products unit—and finds […]
As our mainstream media are finally beginning to get it that the worlds economy has a little problem the Americans are in full fledged aware panic, as they begin to understand that they have beenm lied to about just about everything including the actual unemployment numbers every month more than 600.000 people loose their jobs […]
Surprise £50bn cash injection is attempt to avert new phase of credit crunch. The Bank of England is concerned that the UK’s banking system is heading for a third wave of crisis that could snuff out fragile signs of recovery in the economy. On Thursday the Bank surprised the City by announcing that it would […]
The economic downturn in Europe will be twice as deep as previously forecast with unemployment reaching over 11 per cent, according to figures from the European Commission. The EC’s analysts warned that the 16 euro-zone economies will shrink 4 per cent this year, a contraction that is double the level it estimated only four months […]
27 February 2007 is not a date that stands out. It is not indelibly imprinted on the minds of millions; it does not carry the pain or notoriety of 9-11; unlike ‘Black Wednesday’, it has not been nicknamed Nor, like 31 August 1997, The Day Diana Died, did it send a nation into mourning. Yet […]
Lenders End Moratoria, Opening Flood of Foreclosures; Re-Defaults and Job Losses Also Take Their Toll SACRAMENTO, Calif.–(BUSINESS WIRE)–Completed foreclosures hit another monthly record in March as 175,199 homes were lost to foreclosure, up 44 percent from February’s record high, according to the latest U.S. Foreclosure Index released today by ForeclosureS.com, a leading real estate information […]
The United States is the largest borrower in the world. The US national debt has already exceeded the level of 11 trillion dollars as of the beginning of 2009 and continues to grow like an avalanche. Experts say that the USA has only two ways to solve the problem: to either declare default or trigger […]
RHINEBECK, N.Y., Nov. 19 (UPI) — A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said. “We are going to see economic times the likes of which no living person has seen,” Trends Research Institute […]
This is bad. According to their website the are closed to both lending and investment and while the government guarantees will be extended to the existing investments and debenture holders will continue to receive payments the investment banking sector of the is closed and Farmers Mutual Group said ownership of a finance company was no […]
America is the most indebted country on earth. The US (federal government) public debt is currently of the order of $14 trillion. This does not include mounting public debts at the state and municipal levels. “Strong economic medicine” with a “human face” “Promise amid peril.” The stated priorities of the Obama economic package are health, […]
It’s what we suspected as the deep freeze set in and the country was hit by heavy snow. Now forecasters have confirmed that Britain shivered through the coldest winter for more than a decade. The last three months have been the chilliest for 13 years, with an average temperature of only 37f (2.9c). A man […]
How convenient. First you collapse the economy than you bomb the shit out of them and then you steal their oil. it worked in Afghanistan and Iraq and it will work in Iran. The sharp downward spiral of oil prices has prompted economists to predict that Tehran is facing severe financial hardship within the space […]
“We will preserve the banking system that is owned and managed by the private sector” Treasury Secretary Timothy Geithner. Timothy Geithner is putting the finishing touches on a plan that will dump $1 trillion of toxic assets onto the US taxpayer. The plan, which goes by the opaque moniker the “Public-Private Investment Fund” (PPIF), is […]
Banking collapse has already happened; Crisis is worst ever; Financial system has effectively disintegrated; Mass social insurrection likely Steve Watson Infowars.net Monday, Feb 23rd, 2009 A wave of economists, investors and other financial experts issued a series of dire warnings concerning the global financial crisis over the weekend, stating that a new era of chaos […]
The chairman of the “let’s fleece the natives” committee has started the threats. “If you don’t give us the money you’ll be sorry”. Let me give it to you straight: Fisher & Paykel are fucked. They did too little too late and they are to overextended and selling crap nobody can afford anymore. No amount […]
Japan is grappling with its worst economic crisis since the end of World War II, the nation’s economic and fiscal policy minister said Monday. A businessman walks past a homeless man taking a nap at a Tokyo park. The comments from Kaoru Yosano followed news of Japan’s gross domestic product falling 12.7 percent in the […]
SINGAPORE (AFP) — The global economic crisis heightens the potential for social unrest in Asia, where millions of people suddenly out of work will demand governments take swift and decisive action, analysts say. And while the prospect of regimes being overthrown is remote at the moment, they say, it will depend also on how long […]
Most people don’t realise that the money making process is completely out of our, the general populous, hands. A small group of private citizens has been given control to print money out of thin air and we the general public get to borrow it and pay interest on it and we slog our hearts out […]
Hungry families are facing empty shelves in some foodbanks as social agencies are squeezed between rising need and dwindling donations. Foodbanks throughout the country are reporting a big jump in families seeking food parcels even before New Zealand faces many of the mass layoffs caused by the recession overseas. But some supermarkets are tightening up […]
Previous 1 of 2 Images Next Ed Balls fears rise of fascism amid economic gloom Photo: Julian Simmonds Adolf Hitler takes the salute as thousands of policemen goose-step past his rostrum. Photo: GETTY Ed Balls, the Children’s and Schools Secretary, said the downturn was likely to be the most serious for 100 years, and his comments […]
The daily bleeding of thousands of jobs will soon turn our economic crisis into a political crisis. The street protests, strikes and riots that have rattled France, Turkey, Greece, Ukraine, Russia, Latvia, Lithuania, Bulgaria and Iceland will descend on us. It is only a matter of time. And not much time. When things start to […]
Just imagine 26 million without jobs. If these are the providers for families and we assume that all those families are a Chinese legal family of two parents and one child than we are talking more than 75 million people facing starvation. If these 26 million are parents and both ahve jobs we are still […]
The problem with trying to warn people about the disaster pending is that when it happens you’re sort of at a loss of what to put on your blog. I mean now that every other blog worth their business is calling for and to the financial crisis denial it sort of gets boring, doesn’t it. […]
President Barack Obama and his economic team are being careful to couch all their talk about economic stimulus programs and bank bailout programs in warnings that the economic downturn is serious and that it will take considerable time to bounce back. I’m reminded of an experience I had with Chinese medicine when I was living […]
Just have a look at this series of Photos. ANd that is only the beginning.
A dirty, but revealing affair By Tom Eley 24 January 2009 John Thain, the CEO of brokerage house Merrill Lynch, who guided his firm’s absorption by Bank of America, was fired yesterday by BOA head Ken Lewis after it was learned that Merrill had brought $15.31 billion in fourth quarter losses onto the bank’s balance […]
