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Is Our Debt Burden Really … $100 TRILLION?

$122,000,000,000,000 in $100 Bills Visualized. The problem with budgeting 75 years into the future is that you end up with a lot of numbers that are much more meaningful to actuaries than to other living people Wanna scare somebody about America's debt on the eve of the Fiscal Cliff? I mean, really scare somebody? Here's a trick. Don't talk about the debt. Talk about "unfunded liabilities." The U.S. nationa ...

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EXODUS FROM THE SLAVE STATE: 65% of millionaires left Britain to avoid 50% tax rate

Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed. In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general ...

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Feud at The Fed: “Horrific Consequences” for Unlimited Easing

Dees Illustration Activist Post The Fed's plan to purchase $40 billion in mortgage-backed securities and $45 billion in long-term US Treasuries every month for the foreseeable future is now creating internal feuds. The Federal Reserve's latest round of quantitative easing has no timetable to end or any measurable goal. Yesterday, the Dallas Fed President said this policy without limits would result in "horr ...

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Ex-Goldman Sachs Bankster New Bank of England Governor

George Osborne has stunned the City by announcing that Mark Carney, the Canadian central banker, will replace Sir Mervyn King as the next Governor of the Bank of England. Mr Carney, who had previously ruled himself out of contention for the job, will become the first non-British governor in the Bank’s 318-year history and will fill the most powerful non-elected position in the country. 
 The Chancellor anno ...

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Congress Wraps His Knuckles, But Corzine Is Let Off the Hook

“I’M NO PROSECUTOR, BUT THIS RELUCTANCE TO HOLD CORZINE CRIMINALLY RESPONSIBLE FOR WHAT HAPPENED AT MF GLOBAL SEEMS LIKE A CRIME IN ITSELF.” 
 In the attached article, William D. Cohan reports on what the House Financial Services Committee uncovered about Jon Corzine’s 19 month rein of terror at MF Global. Over 2 years, Corzine gradually increased his ill-advised bets on European sovereign debt. Along the w ...

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Morgan Stanley’s Doom Scenario: Major Recession in 2013

The global economy is likely to be stuck in the “twilight zone” of sluggish growth in 2013, Morgan Stanley has warned, but if policymakers fail to act, it could get a lot worse. The bank’s economics team forecasts a full-blown recession next year, under a pessimistic scenario, with global gross domestic product (GDP) likely to plunge 2 percent. “More than ever, the economic outlook hinges upon the actions t ...

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ECONOMIC COLLAPSE: Treasury Borrowed $211.69 Per US Household on Day After Thanksgiving

(CNSNews.com) - The U.S. Treasury increased the net debt of the United States $24,327,048,384.38 on the day after Thanksgiving, which equals approximately $211.69 for each of the nation’s 114,916,000 households. At the close of business last Wednesday, according to the Treasury, the national debt was $16,283,161,895,179.85. On Thanksgiving, the Treasury took the day off and did no borrowing. But on Friday, ...

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Brzezinski: US must stop following Israel “like a stupid mule”

Leading US strategist Zbigniew Brzezinski – unofficial dean of the realist school of American foreign policy experts – has drawn an unflattering picture of US-Israel relations. In a speech to the National Iranian American Council, Brzezinksi said: “I don’t think there is an implicit obligation for the United States to follow like a stupid mule whatever the Israelis do. If they decide to start a war, simply ...

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Would Take 514 Years Just to Pay Off 2011 Budget Deficit

"If you took every single penny that Warren Buffett has, it'd pay for 4-1/2 days of the US government. This tax-the-rich won't work. The problem here is the government is way bigger than even the capacity of the rich to sustain it. The Buffett Rule would raise $3.2 billion a year, and take 514 years just to pay off Obama's 2011 budget deficit." -Mark Steyn "If you think only the wealthy are going to be hit ...

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Key Neocons Went Directly to Banksters to Block Wikileaks Donations

Two “hard right” politicians, Joseph Lieberman and Peter King, went directly to the transnational credit card corporation MasterCard and arranged an extrajudicial financial blockade of Wikileaks, according to heavily redacted European Commission documents. Heavily redacted documents expose MasterCard’s role in targeting Wikileaks. Photo: Håkan Dahlström Although the exact nature of the deal between Lieberma ...

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Mark Carney’s (Goldman Sach) ‘shock’ appointment means more of the same

Osborne's choice for governor of the Bank of England will do nothing to prevent the next collapse of the financial system Mark Carney, the next governor of the Bank of England, at a news conference in Ottawa, April 2012. Photograph: Patrick Doyle/REUTERS Today the chancellor confirmed that there will be no real change at theBank of England. There will be no change to the Treasury and Bank of England's obses ...

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BAILED-OUT PORTUGAL SET TO APPROVE STIFF TAX HIKES

LISBON, Portugal (AP) -- Portuguese lawmakers are poised to authorize an unprecedented set of tax increases despite concerns that the latest austerity package will deepen the bailed-out country's recession. Though the center-right coalition government has enough votes to pass the package Tuesday, the debate is likely to be heated as lawmakers argue over what is the best way out of the country's debt crisis. ...

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