Government Spending

“Leave Euro, retake democracy!” Nigel Farage in passionate Tsipras address (VIDEO)

In an impassioned speech, the un-resigned UKIP leader Nigel Farage told Greek Prime Minister Alexis Tsipras to take “courage” and quit the euro after the latest emergency bailout talks broke down. Farage said it was time to “get back control of your country,” adding the banks would “give you no more.”

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“Impeach Poroshenko!” Massive anti-govt rally held in central Kiev

A massive march took place in the streets of Kiev to protest against the policies of the current Ukrainian government, calling for its resignation and economic reforms. According to TASS news agency, up to 3,000 people took to the streets in Kiev on Saturday to protest against lack of reform and economic instability.

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House panel wants to cut taxpayer expenses on wealthy ex-presidents

After it was revealed that Bill and Hillary Clinton have earned $30 million in the last 16 months, the House Oversight panel backed a measure that would limit taxpayer dollars on expenses incurred by ex-presidents earning more than $400,000 a year. The measure, passed by a voice vote, would set presidential pensions at $200,000 a […]

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Mind the gap: Britain’s richest are 105 times better off than the poorest

The UK’S richest 20 percent have more than one hundred times the wealth of the poorest 20 percent, with the combined household wealth of £9.1 trillion remaining for the most part in the hands of the elite. New analysis from Lloyds Bank Private Banking revealed that if the combined household wealth was evenly distributed, each […]

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TTIP vs Democracy: London activists to resist controversial EU-US trade deal

Hundreds of political activists will gather in London on Saturday to protest a controversial EU-US trade agreement campaigners warn will enhance corporate power, and promote the privatization of vital public services. The trade deal, known as the Transatlantic Trade and Investment Partnership (TTIP), is currently being negotiated behind closed doors in Brussels. It has been […]

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Politics, “hypocrisy” cost US global economic leadership: ex-Treasury chief

The US may no longer be in control of the global economy, warned former Treasury Secretary Lawrence Summers, urging Washington to regain dominance by honoring commitments and stopping its own hypocrisy. China’s establishment of the Asian Infrastructure Investment Bank (AIIB), and Washington’s failure to stop its traditional allies from joining, was a development without precedent […]

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6 ways US gov’t is breaking own censorship record

The Obama administration claimed an unmatched commitment to government transparency this week, even as it denied or delayed more requests for public information than ever, and claimed exemption from freedom of information laws. After announcing that its Office of Administration would no longer be subject to the Freedom of Information Act (FOIA) on the National […]

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Russia ends dollar/euro currency peg, moves to free float

The Bank of Russia took another step towards a free float ruble by abolishing the dual currency soft peg, as well as automatic interventions. Before, the bank propped up the ruble when the exchange rate against the euro and dollar exceeded its boundaries. “Instead, we will intervene in the currency market at whichever moment and […]

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Rosneft may get $40bn “get out of debt free” check from Kremlin

Russian Prime Minister Dmitry Medvedev has said the state-owned oil giant Rosneft could receive more than $40 billion in financial aid from the Russian government. The country’s largest crude producer may receive up to $40.6 billion (1.5 trillion rubles) in assistance from Russia’s National Welfare Fund.

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IMF throws Ukraine $1.4bn lifeline

The International Monetary Fund has given a green light for Ukraine to receive the second tranche of financial assistance totalling $1.39 billion, meaning more austerity measures for the already struggling economy. “The Executive Board of the International Monetary Fund (IMF) today completed the first review of Ukraine’s performance under an economic program supported by a […]

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Air travel prices in US to climb as TSA fees increase

Air travel in the US is set to become more expensive beginning next week – but airline profits and jet fuel costs aren’t to blame this time. Instead, the price hike will come as a result of a TSA fee increase. The Transportation Security Administration’s fee – known as the ‘Civil Aviation Security’ or the […]

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What The Total U.S. Debt Really Looks Like and What It All Means

Total US debt soars to nearly $60 trn, foreshadows new recession! The Federal Reserve Bank of St. Louis released the current data for the total debt in the United States Economy on June 5, 2014 — All Sectors; Credit Market Instruments; Liability, Level (TCMDO). While people, companies, and governments blamed bad weather for a dismal […]

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The US government might be the biggest hacker in the world

The United States government is investing tens of millions of dollars each year on offensive hacking operations in order to exploit vulnerabilities in the computers of its adversaries, Reuters reports. According to an in-depth article published Friday by journalist Joseph Menn, the US and its Department of Defense contractors are increasingly pursuing efforts to hack […]

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Troika “€˜governor”€™ of European “€˜colonies”€™: Lawmakers fed up with debt crisis tactics

€‹European lawmakers are calling into question the ability of the Troika to effectively deal with the crisis, and many are attacking its methods. An investigation report due in April will look at the handling of the Greek sovereign debt debacle.

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Pensions in Ukraine to be halved – sequestration draft

The self-proclaimed government in Kiev is reportedly planning to cut pensions by 50 percent as part of unprecedented austerity measures to save Ukraine from default. With an “€œempty treasury”€, reduction of payments might take place in March.

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