“How do you solve a problem when you’re running a 10% fiscal budget deficit? You are not going to get growth without private sector credit demand. The government’s idea right now is that we’re going to export our way out of this, and when I asked a senior member of the Obama administration last week how are we going to grow exports if we will not allow nominal wage deflation? He said, “We’re going to kill the dollar.” Kyle Bass interview. Last week, amid growing rumors of a global currency war, the Fed’s balance sheet broke the $3 trillion-mark for the first time in history.
Category: Japan
NEW YORK – Could real estate on American soil owned by China be set up as “development zones” in which the communist nation could establish Chinese-owned businesses and bring in its citizens to the U.S….
With money laundering “lapses” and CEO mea culpas all the rage on Wall Street and the City of London, you would think that Hope and Change™ grifter Barack Obama’s Justice and Treasury Departments would want…
Over the past few months, the perception has been that the risk of a meltdown in Europe (characterized by the loss of market access for Spain and Italy) has grown increasingly remote. The relative calm…
Japan says it may fire warning shots and take other measures to keep foreign aircraft from violating its airspace in the latest verbal blast between Tokyo and Beijing that raises concerns that a dispute over…
“Mumia is the 21st Century Frederick Douglass.” — Angela Davis With growing anticipation, a contingent of the longest-standing supporters of Mumia and the effort to free him from an unjust incarceration are gathering around the…
Chinese websites are again reporting that Russia has agreed to sell Beijing the production line for the Tupolev Tu-22M3 bomber at a cost of $1.5 billion. Once in service with the Chinese Naval Air…
China is firmly opposed to comments made by the United States about the Diaoyu Islands, Foreign Ministry spokesman Qin Gang said Sunday. Qin was answering media questions relating to comments US Secretary of…
Day after day, U.S. air strikes have conclusively answered the familiar question of 9/11: “Why do they hate us?” Many people around the world are disturbed by U.S. drone attacks in Afghanistan, Pakistan,…
The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich. “The richest 1 percent has increased its income by 60 percent in the last 20 years with the financial crisis accelerating rather than slowing the process,” while the income of the top 0.01 percent has seen even greater growth, a new Oxfam report said. For example, the luxury goods market has seen double-digit growth every year since the crisis hit, the report stated. And while the world’s 100 richest people earned $240 billion last year, people in ”extreme poverty” lived on less than $1.25 a day.