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IMF Warns Saudi Arabia May Go Bankrupt by 2020

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Saudi Arabia may go bankrupt within the next five years if the government maintains its current spending habits, the International Monetary Fund said in a report Wednesday. Saudi authorities are already planning spending cuts as the world’s biggest oil exporter seeks to cut its budget deficit created by the drop in crude prices. Saudi officials have repeatedly said that the kingdom’s economy... 

Global Trade Is Collapsing As The Worldwide Economic Recession Deepens

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When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers... 

Youth homelessness surging in UK

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A new report suggests that youth homelessness in the UK is more than eight times higher than the official figures. A new report suggests that youth homelessness in the UK is more than eight times higher than the official figures. The report has been published by Centrepoint – the UK’s leading charity for homeless young people. It says some 136,000 young people aged between 16 and 24, sought... 

102.6 Million Working Age Americans Do Not Have A Job

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The federal government uses very carefully manipulated numbers to cover up the crushing economic depression that is going on in this nation. For the month of September, the federal government told us that 142,000 jobs were added to the economy. If that was actually true, that would barely be enough to keep up with population growth. Sadly, the truth is that the real numbers were actually far worse... 

UK's National Health Service on brink of collapse

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The UK’s former health minister, Norman Lamb. Britain’s former health minister warns the UK’s National Health Service (NHS) will crash, unless instant cash is injected into the healthcare system. Norman Lamb says the NHS will crash within two years with catastrophic consequences unless the government orders a multibillion pound cash injection. The stark warning comes amid mounting fears among... 

Brazil raises taxes and cuts spending as recession hits

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The Brazilian government has announced plans for $7 billion in spending cuts and $8 billion in additional taxes aimed at plugging the hole in the country’s 2016 budget. The austerity package is designed to balance the harsh economic downturn of the seventh-largest economy, whose sovereign credit rating was cut to ‘junk’ status last week. The measures are going to freeze public sector salaries,... 

Wall Street Panics Over Global Recession Fears

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Wall Street plunged Tuesday after investors feared weak data from China, the world’s second-largest economy, would lead to a global recession. China’s manufacturing sector suffered its quickest deterioration in over six years, leading to a three-year market low and other sectors of the Chinese economy also slowed down significantly. In response, all three major U.S. stock indices, the Dow Jones,... 

Fears Explode In Russia After Obama Orders Sudden 9/11 Type War Drill

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A new Ministry of Defense (MoD) report circulating in the Kremlin today states that President Putin has “modified” his order yesterday permitting the Federation to attack Islamic State of Iraq and the Levant (ISIL/ISIS) forces in the Levant War Zone (Eastern Mediterranean) after the Obama regime late last night ordered an “unexpected and highly provocative” massive nuclear war drill all along... 

Blame the Fed, Not China for Market Crash - Ron Paul

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Last week’s historic stock market crash was caused not by China, but by the US Federal Reserve, according to former US Congressman Ron Paul. In a column published on his website Sunday, Paul blamed the crash on flawed monetary policy from the Fed, and not on China’s recent currency devaluation, as many experts said. “The Federal Reserve’s inflationary policies distort the economy,... 

China Displacing Monopoly of US Dollar

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China and Russia are changing the financial architecture of the world, award-winning author, sociologist and geopolitical analyst Mahdi Darius Nazemroaya emphasizes, recommending the Wall Street financial elite to focus on America’s domestic problems instead of trying to undermine China’s economy. The rise of the yuan sends shivers down the spine of America’s financial elite: fearing... 

US budget deficit to increase twofold in 10 years

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The Congressional Budget Office predicts a negative evaluation of the US revenues in the coming 10 years. The analysts noted, that despite the current growth of the country’s revenues, the problem of a huge public debt still cannot be solved, that can generate a twofold deficit of the state budget by 2025. Government revenue will continue to increase, and will reach $5 trillion by 2025, which... 

US stocks lose $2.2 trillion in six days

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Asian stocks take heart from a sharp rebound in US shares, breaking a six-day losing streak which plunged global markets into mayhem. The turnaround came after carnage on global markets which shaved $2.2 trillion off US stocks, with China being at the epicenter of the financial tremors. China’s Shanghai Composite Index on Thursday rose 2.2% to reclaim the critical 3,000 mark. The benchmark’s steep... 

Western Banks In Turmoil As British Banking Giant HSBC Nears Total Collapse

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The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors. According to this report, HSBC is a multinational banking and financial services company headquartered... 

Markets plunge worldwide after biggest slide in Chinese stocks since 2007

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World stock markets plummeted on Monday as the Shanghai composite closed down 8.5%, marking the biggest slide in Chinese stocks since 2007. The brutal sell-off comes despite Beijing’s measures to arrest the decline. “This is a real disaster and it seems nothing can stop it,” Chen Gang, Shanghai-based chief investment officer at Heqitongyi Asset Management Co., told Bloomberg. “If we don’t... 

China Starts Currency War

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Beijing’s depreciation of the yuan in mid-August has triggered a wave of copycat moves from other countries and falling values of currencies. Is this a new currency clash, or is each case specific? What happened in China? In three consecutive days last week, the People’s Bank of China devalued the national currency, with a 4.4 percent overall depreciation. The step was intended to revive exports,... 
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