Tag Archives: finance
HOW AMERICA ENDS: Putin announces new BRICS global reserve currency project to REPLACE the petrodollar
EU preparing for ‘state of emergency’ after Greek talks collapse
Greece does not have the money to make June IMF repayment: interior minister
Exclusive: Greece scrapes bottom of barrel in hunt for cash to stay afloat
Oil drama drives shares lower in Asia and Europe
Russia entering ‘full-fledged economic crisis’, says ex-minister Kudrin
Iran receives $500 million in frozen assets
Poland confiscates half of citizens’ pensions
Attempt to delay European nation’s looming debt crisis
(WND) NEW YORK – Quietly, as the looming possibility of a U.S. military attack on Syria dominated news internationally, the government of Poland announced a decision to confiscate half of the nation’s pension funds in an attempt to delay an impending government debt crisis.
While details remain hazy, Reuters reported Sept. 4 that Polish Prime Minister Donald Tusk announced a government decision to transfer to ZUS, the government pension system, all bond investments in privately owned pension funds within the state-guaranteed system.
Federal government twice as bankrupt as Detroit
Exclusive: Porter Stansberry on how and when the U.S. will end up worse than Motor City
Detroit declared bankruptcy a few days ago.
I’ve written for years about how Detroit should serve as a stark warning to Americans who believe in liberal social policies, like highly progressive taxes and expensive social safety nets.
These socialist programs don’t cure income inequality. They merely destroy wealth by reducing incentives for building businesses and encouraging dependency. That’s why societies with lots of government spending typically have few civil institutions and a small middle class.
Here’s the message our politicians on both sides of the aisle seem to miss: Fifty years ago, Detroit was one of the largest and wealthiest cities in the world. Nearly 2 million people lived there, and it enjoyed the highest per-capita income in the United States.
Then, in 1960, everything changed.
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