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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,... 

The Global Economy Is Officially Melting Down

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As much as the financiers on Wall Street and the officials at the Fed would like the party to keep going, it looks it’s finally about to stop. Years of bailouts and monetary expansion have created one of the most inflated and artificial economic booms in history, and now it appears that this global economic bubble is deflating. Markets across the board are melting down as we speak, and the financial... 

Alexis Tsipras to Step Down in September 2015, Hold Snap Elections

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Prime Minister Alexis Tsipras has confirmed his resignation and early election plans for Greece in a live address. The move comes after Athens managed to pay a huge chunk of its €3.4 billion debt to the ECB. “The political mandate of the January 25 elections has exhausted its limits and now the Greek people have to have their say,” Tsipras said in a televised address Thursday night. Tsipras... 

Soros-Linked Billionaire Buys Up Gold

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A billionaire hedge fund manager linked to George Soros bought up gold shares after multiple financial experts warned a stock market crash is coming. Stanley Druckenmiller, who runs Duquesne Capital after previously working for Soros, now owns 2.88 million shares of SPDR Gold Trust, making it his largest single holding and long position. That means if the price of gold goes up, Druckenmiller profits... 

EU approves Greece third bailout

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Eurozone finance ministers have finally approved Greece’s third debt bailout after Greek parliament endorsed the rescue package following a tough all-night debate. “New loans of up to €86 billion will be made available over the next three years to Greece,” the European Commission said in a statement on Friday after six hours of talks in the Belgian capital Brussels to nail down the painful... 

John Kerry says US Dollar may soon Collapse as World Reserve Currency

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Washington may lose the support of the EU in Ukraine, should the States refuses to implement the nuclear deal with Iran. This may also collapse the US dollar as a reserve currency, Secretary of State John Kerry said in New York as he was promoting the deal with Iran. “If Congress rejects the Iran nuclear deal, “that is a recipe, very quickly, my friends, businesspeople here, for the American... 

70% Americans claim US economy is 'negative'

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Bloomberg’s Consumer Comfort index in the US shows a record-low level of the Americans being content with the state of economy. According to the report, 70% of the US residents estimate their country’s state of economy as “negative”. The number of those being sure that the US economy is “excellent” also amazes. That is only 1%. The rest of 29% believe that the economy... 

Shell to lay off 6500 jobs amid price slump

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Royal Dutch Shell has announced plans to lay off 6,500 jobs this year due to global decline in oil prices. While announcing a 35% decrease in its profit, a statement from the company says it is intending to slash operating costs for 2015 by 10%. The London-listed oil firm said it may force to cut more jobs next year warning that lower oil prices could continue for several years. “We’re taking... 

Athens Facing Ruin as IMF Stands By to Rescue Greek Bailout

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The United States is reported to be working with the International Monetary Fund (IMF) on a backup plan to rescue the Greek economy as economists throughout the world queue up to criticize the latest bailout plan as totally unworkable. The sheer folly of the latest bailout plan for Greece was summed up last week by Finland’s Minister for Foreign Affairs Timo Soini who said that, in agreeing... 

Texas sets its own gold-backed bank

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Texas is going to launch its own gold-backed bank. The law on Texas Bullion Depository operation has been already signed by Governor Greg Abbott. Now the State representatives can trade, and make any operations in precious metals. The measure is a real challenge to the Federal Reserve System. About $1 billion of Texas gold will be repatriated from New York. “With the passage of this bill, the... 

China's Economy Collapsing

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Banks made an additional 1.28 trillion yuan worth of loans to China in June. Things are not looking for for China. It seems like Beijing has averted a crisis as far as their stock markets are concerned with some heavy-handed intervention. But their corporate debt has already reached $ 16.1 trillion and is still rising. Their corporate debt is currently at 160% of their GDP and that is twice as much... 
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