Real Unemployment Rate 28.6 Percent

I really don’t know which I consider worse. That our government would lie about the unemployment rate to win an election. Or that our government would lie about the unemployment rate so we will buy more 52 inch flat screens from China.
America is not in an economic recovery! The jobless rate is going to continue [...]

Homeowners Choose Survival Over Mortgages

The banks are not your friends and would happily confine you on a debt farm working off your inflated mortgage rather than modify your loan. After the midterm elections expect the banking industry to pass legislation that allows them to continue collecting money from you even after they take your home.
A growing number of the [...]

ICELAND: Int’l Arrest Warrant Against Top Bank Official – IPS ipsnews.net

Vigorously pursuing those allegedly responsible for Iceland’s 2008 financial crisis, investigators have got issued an international arrest warrant against Sigurdur Einarsson, chairman of the board of governors of the failed Kaupthing Bank.
An Interpol notice on Tuesday said Einarsson was wanted on charges of counterfeiting, forgery and fraud.
Einarsson, who lives in London, was said to be [...]

Iceland Voters Stand Up For Financial Freedom

Icelanders headed to the polls in drizzling rain Saturday in a referendum set to reject a bank repayment deal worth billions that many here consider a foreign diktat, but a “nei” vote is expected to plunge the country deeper into crisis.
“I will vote no simply because I disagree very strongly with us… having to shoulder [...]

Wall Street Journal Encourages Underwater Mortgage Holders To Walk Away

Millions of Americans are now deeply underwater on their mortgage. If you’re among them, you need to stop living in a dream world and give serious thought to walking away from the debt.
No, you shouldn’t feel bad about it, and you shouldn’t feel guilty. The lenders would do the same to you—in a heartbeat. You [...]

Debt Dynamite Dominoes: The Coming Financial Catastrophe

The people have been lulled into a false sense of safety under the ruse of a perceived “economic recovery.” Unfortunately, what the majority of people think does not make it so, especially when the people making the key decisions think and act to the contrary. The sovereign debt crises that have been unfolding in the [...]

BlackListed News: Better Off Deadbeat: People Get Into Debt, Learn the Law, Become “Credit Terrorists”

Katz doesn’t believe that people are morally obligated to pay back their debts. That notion was invented by debt collectors as a way to beat people into submission, he says. “Bill collectors would love for you to send them a check and then explain to your kids because you have the moral obligation to pay [...]