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the Great Austerity is well under way

88 percent of cities anticipate revenue shortfalls this year, and more than half are already drawing up plans to cut staff or services, according to a survey of local officials released Tuesday by the U.S. Conference of Mayors and the National League of Cities. Increase taxes on the wealthy to…

"Stocks Climb, New Jobless Claims Top 6 Million"

Somebody explain this headline to me? Rich people love high unemployment, it means they'll be able to crush wages, people will be so desperate for a job, any job, please Sir. High unemployment makes having money even more powerful. Also, when unemployment is high, the Federal Reserve prints more…

Another era of zero interest rates? Or resuming the same era?

The bond market now expects the Federal Reserve to keep inter-bank US Dollar interest rates below 1% for at least the next five years. After the 2008-2009 recession, these interest rates stayed below 1% for nine consecutive years, showing how fundamentally broken our banking system had become. In…

socialism in communities

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