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Saudi Arabia Nearing Massive Cash Deficits

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The moment is around the corner when Saudi Arabia will face a massive budget deficit, an American political scientist said. “Saudi Arabia is running large budget deficits of 15 to 20 percent of GDP, and is drawing down on its currency reserves,” American political science professor James D. Savage told Iran’s Tasnim news agency. He added that the International Monetary Fund (IMF) estimates... 

Trump: It is Important to Audit the Federal Reserve

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On Monday following an appearance by Trump insider and adviser Roger Stone on the Alex Jones Show last week, Donald Trump tweeted it “is so important to audit The Federal Reserve.” He also criticized opponent Ted Cruz for missing a vote on the proposal. Stone told Alex Jones prior to the tweet Trump is “deeply suspicious” and “open-minded about the Fed.” “I suspect you’d get an audit... 

Austerity economics ‘pointless remedy’ for EU - Italy PM

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Italy’s premier has harshly criticized the EU’s recent economic policies, describing them as a “pointless remedy” for a terminally-ill patient. Matteo Renzi censured the austerity measures imposed on many European states over the past several years and said austerity economics only has caused Europe to be left behind by the United States. “The countries that have had growth in Europe have... 

Riyadh Reels as Oil Prices Plummet

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Falling oil prices are emptying Saudi Arabia’s state coffers as the country grapples with its military and social needs, according to the French newspaper Les Echos. Plummeting oil prices have ridden roughshod over the state coffers of Saudi Arabia, which is currently trying to cope with its military and social needs, journalist Yves Bourdillon wrote in an article which was published by the... 

Brazil inflation hits 13-year high

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Official figures show inflation in Brazil last year hit the highest level since 2002. Official figures show that Brazil’s inflation hit the highest level in 13 years in 2015 over what many believe has been a result of economic mismanagement that has been worsened by a political crisis in Latin America’s biggest economy. The government announced on Friday that annual inflation reached 10.67... 

Feared Collapse Of United States And Saudi Arabia In 2016 Cause Russian Dread

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A highly disturbing Security Council (SCRF) report circulating in the Kremlin today is warning that the coming year, 2016, may very well see the collapse of the governments of the United States and Saudi Arabia as the citizens in both of these nations have begun revolting against the massive corruption these regimes rule by—and which should they both collapse would launch upon the entire world an... 

Chinese stock markets halted after tumbling 7% in 1st 2016 session, dragging Europe down

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Trading was suspended on Chinese markets after stocks tumbled 7 percent in the first trading of the year, triggering the new “circuit breaker” system limiting volatility, which was introduced in December. The fall from Asia led to a slump in European stocks as well. The 15-minute suspension happened about 90 minutes before market’s regular closure and followed a brief 15-minute halt early in... 

Ukrainian farmers hold mass protest against government agricultural cuts

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Activists who think that Ukraine’s 2016 budget screams death to the agricultural sector have brought a dead pig in a coffin to the Verkhovna Rada building in Kiev and held a mock funeral ceremony. The angry protesting farmers and their supporters demand to keep a simplified tax system and special VAT rules for the agricultural sector in 2016, something the announced budget lacks as Ukraine has to... 

Ukraine Officially Declares Default

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Ukrainian Prime Minister Arseny Yatsenyuk declared a moratorium on the payment of three-billion-dollar debt to Russia. The Cabinet of Ministers of Ukraine supported his decision. In addition, the official Kiev is not going to pay the debt of $507 million to Russian banks (the debt was amassed by two Ukrainian companies that collaborated with Russian banks). “From today, all payments shall be... 

Brazil's inflation at 12-year high

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Brazil’s inflation climbed above 10 percent in November reaching the highest level in 12 years. Brazil’s inflation climbed above 10 percent in November reaching the highest level in 12 years, the government announced on Wednesday. Consumer prices over the past month stood at 10.48 percent – a figure that was above expectations and could force tighter monetary policy despite a severe recession. The... 

American Millennials 'Lose Hope in American Dream'

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Startup culture and the “sharing economy” could be replacing the traditional American Dream of freedom of lifestyle choice and the ability to own a home, according to a new survey paralleling research conducted in 1986. Young white Americans have become as hopeless regarding the “American Dream” as their non-white counterparts, according to a poll conducted among US 18 to 34-year-olds,... 

Number of homeless rises in America to more than half a million, especially in New York

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About 565,000 people were homeless in the United States, according to a one-night federal survey. While this is a two percent drop from 2014, major cities like New York, Seattle and Los Angeles continue to battle rising homelessness. The US Department of Housing and Urban Development’s 2015 Annual Homeless Assessment Report to Congress found that of the 565,000 homeless counted during a point-in-time... 

47 million Americans live in poverty right now

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The middle class in America has been disappearing because of the rapid increase in the cost of living in the United States. Indeed, the cost of living in the United States (food, rent, medical insurance and so on) has been growing rapidly. On the federal level, the poverty threshold for a family of five makes up $28,410, although 51% of all American workers make less than $ 30,000 a year at the moment. In... 

US Leading World Towards Global Economic Crisis - Ron Paul

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Dr. Ron Paul: “Unless this system is changed, America, and the world, will soon experience a major economic crisis. It is time to finally audit, then end, the Fed.” Dr. Ron Paul, the former congressman and US presidential candidate, says unless the United States shuts down the Federal Reserve System – the US central bank known as “the Fed” – the world will experience a major... 

US public debt 3 Times the size of officially declared - $65 Trillion

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The real amount of the US public debt, with due regard to all unfunded liabilities of the country now stands at around 65 trillion dollars, instead of the publicly stated 18.5 trillion, The Hill reports with reference to the former head of the Accounting Chamber of the United States David Walker. According to him, the officially declared amount should take account of unsecured civilian and military... 
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