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Archive for April, 2012

Emergency Preparedness
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Preparing Makes Sense!

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Congress steering US economy toward a ‘fiscal cliff’

Fed Chairman Ben Bernanke calls it the “fiscal cliff.” It might be better thought of as the next economic Armageddon. Unless Congress acts to soften the blow, economists are warning that a looming year-end collision of massive, “automatic” cuts in federal spending and the expiration of sweeping Bush-era tax cuts could crush an already weak U.S. [...]

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Carnage as Europeans refuse to take their medicine

Europe’s political centre is starting to crumble. Elected governments have already been swept away – or replaced by EU technocrats without a vote, indeed to prevent a vote – in every eurozone state where unemployment has reached double-digits: Spain (23.6 per cent), Greece (21 per cent), Portugal (15 per cent), Ireland (14.7 per cent), and [...]

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Spain’s economic crisis deepens

Spain’s unemployment rate rose to almost one in four, according to data released on Friday, as the country’s foreign minister warned of an economic crisis of “enormous proportions”. The comments from José Manuel García-Margallo came the day after Standard & Poor’s downgraded Madrid’s credit rating and warned the country faced significant risks meeting economic growth [...]

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Euro crisis deepens

The eurozone’s crisis deepened this week, as the political and economic costs of fiscal austerity became clearer amid signs that the ECB’s medicine is wearing off fast. The Bank of Spain estimated the country’s GDP fell by 0.4 per cent in the first quarter, while purchasing managers’ surveys showed that economic activity across the region [...]

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Euro on brink of collapse: IMF

LONDON: The crisis-hit euro is teetering on the brink of collapse, the International Monetary Fund (IMF) has said. In a significant vote of no-confidence, Tuesday’s report from the global financial organisation admitted the troubled European single currency had “flaws” and was at risk of a “disorderly default and exit by a euro area member”. And [...]

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Bernanke Says Fed Crisis Response Prevented Global Meltdown

Federal Reserve Chairman Ben S. Bernanke said the central bank’s aggressive response to the 2007-2009 financial crisis and recession helped prevent a worldwide catastrophe. “We did stop the meltdown,” Bernanke said today in the third of four lectures to undergraduates at George Washington University. “We avoided what would have been, I think, a collapse of [...]

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Turmoil in global markets as Spanish bank borrowing from ECB doubles

Spanish bank borrowing from the European Central Bank doubled last month, revealing a dangerous dependence on emergency funding that on Friday triggered renewed turmoil in financial markets. The Bank of Spain disclosed the country’s biggest institutions borrowed €316.3bn (£260.9bn) from the ECB in March, almost twice the €169.8bn in February. Traders dumped Spanish stocks and [...]

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Human Consumption Will Trigger Global Collapse By 2030

In 1972, four MIT researchers published a report called “Limits to Growth.” In it, they used computer models to analyze economic data, and predicted that if civilization continued on its path toward increasing consumption, the global economy would collapse by 2030. Read more: http://www.care2.com/causes/human-consumption-will-trigger-global-collapse-by-2030.html#ixzz1rY6RZsqT

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Battered Spain feeling euro crisis heat

Worries about Spain’s perilous economic outlook and the threat it poses to its fragile eurozone neighbours intensified this week as investors dumped the euro and riskier government bonds ahead of the holiday weekend. A poorly received Spanish bond auction earlier in the week continued to spread jitters around Europe, with economists warning Spain could become [...]

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Violent protests erupt in Athens over debt suicide

MUST READ… Violent protests broke out in Athens last night after an elderly man committed suicide near to the country’s Parliament building, claiming he was distraught at the prospect of “looking in the garbage to feed myself”. In a suicide note left at the scene the man said the Government had “nullified any chance of [...]

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Gurus see euro break-up as dangerous but liberating

A disorderly break-up of the euro would set off a cataclysmic chain-reaction and a collapse of Europe’s banking system, pushing the world into full-blown depression. The consequences of a completely unplanned ‘Exit’ are likely to be catastrophic,” said Neil Record from Record Currency Management, one of the five qualifiers. Catherine Dobbs, a former algorithms expert [...]

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DHS Uses Wartime Mega-Camera to Watch Border

One legacy of the Iraq and Afghanistan wars has arrived on the southern border of the United States. The Department of Homeland Security recently completed tests of a powerful camera, one that cut its teeth in the war zones, that captures video of entire miles of border in a single frame. DHS thinks mega-cameras on [...]