Tag: financial crisis
The U.S. government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones who will pay for it. #financialcrises
The shocking findings of the new report produced by the UK’s House of Commons Library claim that the 1% will control 64% of the world’s money in just 12 years’ time. The wealth gap increases each year because the wealth of the richest one percent grows at six percent annually, outstripping the three percent annual growth of everyone else, causing a continual movement of money to the top. #wealthInequality #WealthGap
Ninety years after ‘Black Monday’, Simon Black discusses three key insights from that historic stock market crash. #stockmarketcrash
It’s easy to get excited about a rise in the stock market, but a look at the overall U.S. economy gives credence to the possibility of an economic collapse. Here’s what you can do to prepare in case that happens.
In the years leading up to the economic crisis in 2008, banks increased the funding for the riskiest loans (called subprime loans), from $30 billion a year to over $600 billion a year, rigged even higher interest rates on those loans, and then, while the bankers were making billions of dollars of profits off the borrowers’ high interest repayments, they made further profits betting against their customers ever being able to pay back the loans they had just been given. The FBI warned the government about this in reports as early as 2006, the IMF’s chief economist, Raghurum Rajan, presented a paper to the men in charge of all the world’s major banks, including the Federal Reserve, warning of the potential collapse of the system due to dangerous incentives, and journalist Allan Sloan published articles in Fortune magazine and The Washington Post in 2007 – nothing was done.
Politics in Europe has been busy denying financial problems but the banks are now openly predicting massive measures.Legal issues will be unfolding with the current monetary crisis.
On Thursday, the EUR/USD fell all the way to $1.0366 at one point before rebounding slightly. That represents the lowest that the euro has been relative to the U.S. dollar since January 2003.
Iceland’s Supreme Court decision affirmed the conviction of the seven defendants found in a June 2015 by the Reykjavik District Court, and handing down a guilty verdict to two defendants previously acquitted in district court.
Toward the end of 2015, a new global financial crisis erupted, and it threatens to completely spiral out of control as we enter 2016.
