Stuck in the Monetary Mud. All the Fed can do is hope, says Peter Schiff. Sent in by H.L.
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Fiscal and Monetary Madness. Excerpt: “A world of fiat currencies “managed” by central banks descends into the trap of exponentially increasing debt that leads, slowly or rapidly, toward monetary madness and … Train wreck ahead!”
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How Oil Can Be Used To Defeat ISIS
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Youtube: The Central Bankers And Corporations Are Running The Country: John Titus. – Sent in by RBS
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If your country’s broke, don’t hold all of your savings there
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Japan’s (Third) Lost Decade. Excerpt: “Today, a full 25 years after the bubble burst in Japan, that country continues to struggle with deflation, zero interest rates, weak banks, adverse demographics, and periodic bouts of negative growth. Japan has endured a 26-year depression, and there is no end in sight.”
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Items from Professor Preponomics:
Professor Preponomics’ Reading Recommendation
From the Cato Institute store: Going for Broke: Deficits, Debt and the Entitlement Crisis by Michael D. Tanner
US News
Commentary: The GOP and Social Security (Cato) Excerpt: “…Social Security’s unfunded liabilities approach $26 trillion. That’s not because of waste or administrative glitches; it’s because of shifting demographics.”
Southern Tennessee Medical Center, LLC to Pay $2.48 Million to Settle False Claims Act and Overpayment Allegations (Justice.gov)
21st Century Oncology to Pay $19.75 Million to Settle Alleged False Claims for Unnecessary Laboratory Tests (Justice.gov)
Tennessee Children’s Food Program Under Scrutiny (Government Waste Fraud and Abuse) One word comes to mind immediately. Dispicable. Excerpt: “…a subsequent investigation by The Tennessean, which found unscrupulous contractors in some cases were pocketing funds intended for hungry children. In one instance, a contractor spent money on lavish bonuses, home improvements and on-demand movies in hotels.”
International News
Central Banks are Already Doing the Unthinkable – You Just Don’t Know It (The Telegraph) Excerpt: “A catch-all term, helicopter drops describe the process by which central banks can create money to transfer to the public or private sector to stimulate economic activity and spending.”
Personal Economics and Household Finance
Snapchat, Seagate Among Companies Duped in Tax-Fraud Scam (Clark Howard) Excerpt: “A major phishing scheme has tricked several major companies — among them, the messaging service Snapchat and disk-drive maker Seagate Technology — into relinquishing tax documents that exposed their workers’ incomes, addresses and Social Security numbers.”
Watch Out for this New Tax Scam (Market Watch) Excerpt: “The IRS says it has begun receiving reports “in the last few weeks” of phone scams that use a slightly different tactic: They don’t ask for money, and instead request personal financial information, pretending they need to verify it.”
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