Economic News

"Grexit" Would Prompt Even Germany to Leave Eurozone (3/14/15)
From Sputnik News: "If Greece leaves the Eurozone it could trigger a chain reaction, with Spain, Italy and even Germany following the 'Grexit' example, Greek Defense Minister Panos Kammenos said in an interview with Bild, published by the German newspaper on Saturday."

Is Russia Planning a Gold-Based Currency? (2/6/15)
From the Mises Institute: "The 'perfect-storm' of geopolitical instability, diplomatic isolation, severe currency depreciation, and economic decline now confronting Russia has profoundly damaged Moscow's international standing, and possibly for the long-term. Yet, it is precisely such conditions that may push the country's leadership into taking the radical step that will secure its world-player status once and for all: the adoption of a gold-exchange standard."

"Grexit" Would Prompt Even Germany to Leave Eurozone (3/14/15)
From Sputnik News: "If Greece leaves the Eurozone it could trigger a chain reaction, with Spain, Italy and even Germany following the 'Grexit' example, Greek Defense Minister Panos Kammenos said in an interview with Bild, published by the German newspaper on Saturday."

Scary Jobs Reality: SIXTY PERCENT OF AMERICAN JOBS PAY $35,000 OR LESS (4/4/14)
From FITSNews: "According to Michael Snyder of The Economic Collapse website, nine of the top ten jobs in America pay an average wage of $35,000 or less.
"'When you break that down, that means that most of these workers are making less than $3,000 a month before taxes,' Snyder writes. 'And once you consider how we are being taxed into oblivion, things become even more frightening. Can you pay a mortgage and support a family on just a couple grand a month? Of course not. In the old days, a single income would enable a family to live a very comfortable middle class lifestyle in most cases. But now those days are long gone. In 2014, both parents are expected to work, and in many cases both of them have to get multiple jobs just in order to break even at the end of the month.'...
"And while those 'Top Ten' jobs account for only 21 percent of the workforce, according to the latest federal wage data an astounding 59 percent of all Americans make an average of $35,000 a year or less."

China May Crash Dollar (9/10/12)
According to Kyiv Weekly, China may try to crash the U.S. dollar by buying gold with their dollars. "Leading Chinese economists have recommended the country's government to increase the volumes of the country's gold reserves fivefold. The government needs to expand its share of gold in foreign exchange reserves to reduce its vulnerability to the devaluation of the dollar."

Jim Rogers: 'Financial Armageddon' Can't Be Stopped (6/29/12)
The EU summit just gave their bailout fund authority to directly bail out banks. International investor Jim Rogers said, "What would make me very excited is if a few people went bankrupt or a few people started paying off their debt. We are going to have financial Armageddon anyways, when the rest of the world is not going to give these people any more money."

Court Ruling Lets More Than $800 Billion in Higher Taxes Proceed (6/28/12)
Congressional Budget Office projects $813 billion more in tax revenue from working class over next 10 years to pay for expanded insurance coverage under Obamacare.

Soros: Three Days Left to Save the Euro (6/26/12)
George Soros says the Euro crisis needs a newly-created central bank supervisory/examining body, as the EU Summit meets on Thursday and Friday.

Goldman's Jim O'Neill: Global Economy Could Be 'Taken Down' by Euro Crisis (6/26/12)
Author says that solution to Euro crisis is theoretically simple but difficult in practice.

In suburban America, middle class begins to confront poverty (6/23/12)
Middle class families are trying to hide the fact that they're almost bankrupt. Thanks for a hundred years of Socialist/Progessive policy.

SC Government Growth Bucks National Trend (6/21/12)
From FitsNews: "From 2001-2011, state government grew by 27.7 percent (after adjusting for inflation). Meanwhile median household income over the same time period actually contracted by 5.4 percent (again, after adjusting for inflation)."

South Carolina's "Lost Decade" (6/2/12)
From FitsNews: "In FY 2000-01 South Carolina's budget was $13.9 billion. By the time FY 2010-11 rolled around, though, annual spending had ballooned to $21.1 billion. Even after adjusting for inflation, that's a 27.7 percent increase. So...did South Carolinians' income levels also rise by 27.7 percent over the last decade? Of course not...
"We already knew that South Carolina's income levels were well below the national average - and slipping. But comparing the most recent U.S. Census data with numbers from 2000 reveals just how far behind the rest of the country our state has fallen. According to the 2000 Census, the median household income in South Carolina in 1999 was $37,082 - or 88.3 percent of the national average of $41,994. In 2010, South Carolina's median household income was $43,939 - or 84.6 percent of the national average of $51,914.
"In other words, South Carolinians saw an already large income gap increase over the last decade."

China calls for new global reserve currency (August 6, 2011)
China issued a press release saying: "The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone...China has every right now to demand the US address its structural debt problems and ensure the safety of China's dollar assets...International supervision over the issue of US dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country."



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