IMF Head Chides Greeks For Not Paying Enough Taxes…

...while earning a cool $545,000.00 annually herself, tax free. From the UK's Daily Mail Online: IMF boss condemns the Greek for avoiding tax. But Christine Lagarde pays NOTHING on earnings of £350,000 Questioned about Greek crisis head of IMF said country can help itself collectively 'by paying all their tax' Suggests that IMF's money would [...]

By |2012-05-30T22:45:09-04:00May 30th, 2012|Economy, Featured Categories|0 Comments

If You’re Going to Panic, Panic First

...because, it seems, that your assets may have been pledged multiple times as collateral in a leverage process known as "Re-hypothecation." Absent proof otherwise, this should probably be assumed to include any money you might have in an IRA, any alleged retirement you think your employer owes you, (what do you think the company does [...]

By |2011-12-12T10:49:44-05:00December 12th, 2011|Economy|2 Comments

DeMint / Vitter Amendment Votes Today!

From "The Hill": The Senate on Thursday will resume consideration of S. 679, a bill to streamline the presidential appointment process, and is expected to vote around noon on amendments offered by Sens. David Vitter (R-La.) and Jim DeMint (R-SC). Vitter's amendment would end the ability of the White House to appoint policy "czars," and [...]

By |2011-06-23T10:49:56-04:00June 23rd, 2011|Government|0 Comments

Senate Republicans Offer Amendment to Stop $108 Billion Bailout to Foreign Countries

Kudos to these Senators for finding a way to preserve hard-earned taxpayer money: "U.S. Senators Jim DeMint (R-South Carolina), Orrin Hatch (R-Utah), David Vitter (R-Louisiana) and John Cornyn (R-Texas) today offered an amendment to the Economic Development Revitalization Act to roll back the International Monetary Fund’s (IMF) ability to use $108 billion in taxpayer dollars [...]

By |2011-06-18T10:49:02-04:00June 18th, 2011|Economy|1 Comment

Keep On Shopping At ChinaMart, Folks

...because a society doesn't need to produce, it only needs to consume! Full article at link. After a weekend full of empty (or not) Chinese posturing, Marketwatch's Brent Arends has an interesting tidbit to add to the China vs US debate. "The International Monetary Fund has just dropped a bombshell, and nobody noticed. For the [...]

By |2011-04-26T12:42:28-04:00April 26th, 2011|Economy|0 Comments

The Pace Quickens? IMF Calls For Dollar Alternative

This just in from CNN: NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency. SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a [...]

By |2011-02-11T07:29:26-05:00February 11th, 2011|Economy|0 Comments

India, Iran, and Oil: Follow Up

A few days ago we posted this piece on trade negotiations between India and Iran. India imports 80% of its oil, and buys about 16% of its imported oil from Iran. This is a very important matter for India. The United States is pressuring India to participate in economic sanctions against Iran and that has [...]

By |2011-01-10T15:02:27-05:00January 10th, 2011|Economy|0 Comments

More Clear Thinking from Tiny Iceland

From the U.K. Telegraph, this wonderful example of how to solve a debt crisis: let the banks fail. As you read this, please understand the "recovery" model that is being put forward, and supported by politicians of all stripes, for the U.S. That model is this: endless free money and bonuses for the banks, and [...]

By |2010-12-13T17:49:28-05:00December 13th, 2010|Uncategorized|0 Comments

Iceland’s politicians forced to flee from angry protesters. The bankers’ flag reads: “Slavery”

Our coverage of the Iceland meltdown continues. As you'll recall, the three major banks in tiny Iceland (Glitnir, Kaupthing, Landsbanki) went on a borrowing and derivative-fueled lending spree. Icelandic banks opened bank branches in the EU and took deposits from mostly Britain and Netherlands. The deposits were used to fuel a real estate lending boom. [...]

By |2010-10-03T14:43:51-04:00October 3rd, 2010|Economy|0 Comments

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