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Greek Parliament Dismisses Thousands of Government Workers

The Greek parliament has approved 109 items with the arrangements for the dismissal of several thousand employees and a series of fiscal reforms agreed with the troika. The bill received 153 votes, the number corresponding to the sum of the members of the conservative New Democracy and socialist Pasok Parties, the two members that make up the bipartisan government. In an unprecedented initiative, since it involves the dismissal of ...Read full article...

The Stealth Collapse of the American Economy

The Economic Collapse….people envision bank runs, life WROL (without rule of law), piles of worthless currency, rampant homelessness, and breathless news reports on CNN and the network channels (if you happen to still have access to a television, that is). They imagine a grim, gray world, devoid of entertainment, with unwashed citizens digging desperately through the trash. Because of this apocalyptic image, the idea of an economic collapse seems ...Read full article...

“Short Selling” and the Rigging of the Gold Market

I was the first to point out that the Federal Reserve was rigging all markets, not merely bond prices and interest rates, and that the Fed is rigging the bullion market in order to protect the US dollar’s exchange value, which is threatened by the Fed’s quantitative easing.  With the Fed adding to the supply of dollars faster than the demand for dollars is increasing, the price or exchange ...Read full article...

Historical Roots of the Social Crisis in Brazil. The Role of the IMF

More than a million people across Brazil have joined one of the largest protest movements in the country’s history. Ironically, the social uprising is directed against the economic policies of a self-proclaimed “socialist” alternative to neoliberalism led by the Worker’s Party government of president Dilma Rousseff. The IMF’s “strong economic medicine” including austerity measures, the privatization of social programs have been implemented under the “progressive” and “populist” banner of ...Read full article...

The Rational Market Myth: “Financial Armageddon” without Nukes

One of the myths of economics is that markets are rational. Theories are based on this assumption, and the belief that markets are rational fuels the argument against regulation.  The market response to the Federal Reserve’s June 19 statement that it will taper off its bond purchases if its forecast comes true is unequivocal proof that markets are irrational. The Federal Reserve’s statement that it “currently anticipates that it ...Read full article...

U.S. Government issues yet another phony Jobs Report

The payroll jobs report for May released today continues the fantasy. Goods producing jobs declined, with manufacturing losing another 4,000 jobs, but the New Economy produced 179,000 service jobs. Are these jobs the high-powered, high-wage “innovation jobs” that economists promised would be our reward from Globalism. I’m afraid not. According to the Bureau of Labor Statistics, the jobs created are the usual lowly paid non-exportable domestic service jobs–the jobs ...Read full article...

Japan cancels import of American Wheat on GMO contamination

A strain of genetically modified wheat found in the United States fuelled concerns over food supplies across Asia on Thursday, with major importer Japan cancelling a tender offer to buy U.S. grain. Other top Asian wheat importers South Korea, China and the Philippines said they were closely monitoring the situation after the U.S. government found genetically engineered wheat sprouting on a farm in the state of Oregon. The strain ...Read full article...

Another World Bank insider exposes banker network of financial corruption

After Joseph Stiglitz and a separate analysis about The Network of Global Corporate Control, another confirmation that the world is managed by a small group of central bankers has come to light by a group of World Bank whistleblowers. A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately ...Read full article...

Rigged Gold Bullion Market scheme to counteract QE effect on dying U.S. dollar

Over the past month there has been a statistically improbable concurrence of events that can only be explained as a conspiracy to protect the dollar from the Federal Reserve’s policy of Quantitative Easing (QE). Quantitative Easing is the term given to the Federal Reserve’s policy of printing 1,000 billion new dollars annually in order to finance the US budget deficit by purchasing US Treasury bonds and to keep the ...Read full article...

Gangster State America. “Naked Short” in the Gold Market

There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver. My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold ...Read full article...

Mass Poverty, Social Inequality and the Thirdworldization of America

Center for Economic and Policy Research co-director Dean Baker calls poverty America’s “new growth industry.” The state of today’s America is deplorable. In his latest May 3 analysis, economist John Williams said “April “employment and unemployment data were nonsense: the economy remains in serious trouble.” About 23% of Americans wanting work can’t find it. Most jobs are temp or part-time low pay/poor or no benefit service ones with no ...Read full article...

European Central Bank to use fake money for more bailouts

The European Central Bank (ECB) is ready to buy bad debts weighing in Southern countries in an attempt to end the fragmentation in the eurozone and boost funding to the SMEs, as confirmed by the German representative on the board of the entity, Jörg Asmussen . “It’s part of the debate on lending to SMEs,” Asmussen said when asked about the measure, which was conducted by Expansion. The ECB ...Read full article...

Europeans still expect the worst of the crisis to come

Most Europeans believe that the crisis will worsen next year. Despite the official message that economies clearly begin to grow next year, people still believe that the worst is yet to come, according to a European survey conducted in April by Ipsos and Publicis. At the head of pessimism are the French with 73% of them who believe things will get worse and, paradoxically, the Spanish are the most ...Read full article...

Portuguese People to Retire later and Work Longer

When Prime Minister Pedro Passos Coelho announced a solemn televised address in the evening the Portuguese cross their fingers. No wonder, because usually these kind of addresses bring very bad news. On Friday, Passos Coelho announced the continuation of the governments plans to impose more austerity and to reduce government services to the population. He presented a looming new wave of cuts and restrictions that will last at least ...Read full article...

A Greater Threat Than Terrorism: Offshore Outsourcing of American Jobs

Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so far there has been no debate, just a shouting down of skeptics as “protectionists.” ...Read full article...