Don’t try to praise bestselling author, Peter Schiff, for accurately predicting the 2008/2009 crash. That is, because in his opinion, the financial crisis wasn’t the REAL crash… It was only a tremor before the big one hits. “Armageddon is inevitable,” says Peter. So will 2015 be the year when we finally run out of fools willing to lend to us? [...]

Last week, US President Barack Obama, US Vice President Joe Biden and Chairman of the US Federal Reserve Janet Yellen held a secret meeting at the White House, during which they discussed the US and global economy, an official statement released by the White House said. However, according to former US politician and political expert Ron Paul, the subject discussed behind closed doors could be m [...]

Despite favorable – even fawning – propaganda in Western media, the U.S./E.U.-backed regime in Ukraine tramples on traditional liberal values of tolerance and pluralism, notes James W Carden. The overnight train from Kiev to Slavyansk gives a passenger, if nothing else, ample time to read and think. On a return trip to war-torn eastern Ukraine in March, I took the opportunity the 13-hour jo [...]

In the article below by CNN Money, it says that Americans are becoming fearful of a future with a ’Dead-End Economy, Crap Jobs, and Awful Wages, and they have every reason in the world to think that way, because they’ll be lucky if it’s that... [...]

Riyadh has shot itself in the foot by adopting a predatory pricing policy in the oil market aimed at wiping its competitors out; now the House of Saud is reaping a whirlwind it sowed. Back in 2014 Saudi Arabia decided to drop oil prices in order to expel Russia from the European and Asian oil markets and at the same time to deal a heavy blow to the US shale oil industry. [...]

Russian President Vladimir Putin turned his attention to domestic issues on Tuesday, amid several high-profile arrests, in what could be seen as a shift away from foreign policy, which dominated his agenda for the past two years. Russia's Federal Security Service (FSB), which answers directly to [...]

Kiev has announced a massive discount on the sale of state assets which have failed to find foreign buyers. Ukraine’s State Property Fund says all of the assets have been put up for sale more than 10 times and have found no takers. As a result, 22 of 34 state assets are now being put up for sale at a 60 percent discount, nine with a discount of 50 percent, and three are up for auction at a re [...]

The US Justice Department cautioned local courts that it is unconstitutional to jail someone for not paying fines without determining whether they are able to pay, and warned against using court fees to generate revenue for cities. The warnings came as part of an effort to reform court practices that “perpetuate poverty and result in unnecessary deprivations of liberty,” the Justice Depar [...]

Amid official economic statistics that claim “the world’s largest paper economy is in a marvelous recovery” and the insistence of leading US economists that the national debt doesn’t matter as it is owed to itself, geopolitical analyst F. William Engdahl argues that the country is almost bankrupt and its end could be nearer than any of us imagine. [...]

Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold. The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left. [...]

Political instability arising from European states’ crippling debt burdens may lead to the Eurozone’s implosion, ex-Bank of England (BoE) governor Mervyn King has said. The former central banker and staunch Euroskeptic made the prediction in his latest book, The End of Alchemy: Banking, the Global Economy and the Future of Money. [...]

American society is morally bankrupt and politically broken, and its vision of the future appears utterly dystopian. As the United States descends into the dark abyss of an updated form of totalitarianism, the unimaginable has become imaginable in that it has become possible not only to foresee the death of the essential principles of constitutional democracy, but also the birth of what Hannah Are [...]

The US economy died when middle class jobs were offshored and when the financial system was deregulated. Jobs offshoring benefitted Wall Street, corporate executives, and shareholders, because lower labor and compliance costs resulted in higher profits. These profits flowed through to shareholders in the form of capital gains and to executives in the form of “performance bonuses.” Wall Stre [...]

Cameron was crowing this week over his ‘victory’ on the issue of migrant benefits. But EU leaders should be extremely wary of what has been agreed. Cameron emerged seemingly triumphant from this week’s meeting with European Council President Donald Tusk. [...]

Ukraine’s minister for economic development and trade, Aivaras Abromavicius, who is one of several foreign experts in the government who was brought in to help Kiev with reforms, has announced his resignation, citing corruption levels in the state. [...]

The United States federal debt has surpassed $19 trillion for the first time in history according to the Treasury Department. However, the real figure could exceed $65 trillion, according to a former US Comptroller General. The official debt of $19 trillion represents almost $60,000 for every man, woman and child living in America today. [...]

A case can be made that for Moscow it would be a tremendous waste of hard-earned foreign exchange to try to counter a rig against their currency they simply cannot beat, as the entire fiat financial power of the US is against them. Russia’s Central Bank by now should be all-out selling rubles for gold, and building Russia’s gold reserves. Well, it is happening, somewhat. [...]

The World Economic Forum in Davos is submerged by a tsunami of denials, and even non-denial denials, stating there won’t be a follow-up to the Crash of 2008. Yet there will be. And the stage is already set for it. Selected Persian Gulf traders, and that includes Westerners working in the Gulf confirm that Saudi Arabia is unloading at least $1 trillion in securities and crashing [...]

The 2008 Wall Street crash resulted from a combination of unrestrained greed and political contempt for government regulators who might have prevented the devastation. In The Big Short, the tale is told from the perspective of a few players who saw the inevitable and made money on the crash, writes James DiEugenio. If you read Michael Lewis’s book The Big Short or see the movie by the same na [...]

The goal? A total revamp of the economic system that sidelines the interests of the majority. The time? Now. And the stakes couldn't be higher. At issue is the global inequality crisis that is "spiraling out of control," an alliance of nine groups including Amnesty International, Association for Women's Rights in Development, Greenpeace, International Trade Union Confederation, and Oxfam says, [...]

The US economy is generating breathtaking wealth for an elite minority of the population at the expense of millions of people now tumbling through the gaping cracks of the system. So why do we continue to watch the painful spectacle year after year? America’s once-glorified middle-class is on its way to being relegated to the history books; an artifact of a bygone era when good-paying jobs, c [...]

The financial situation in the world has become so unstable that a new wave of defaults and bankruptcies will soon emerge, says William White, the chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS). [...]