Britain Faces Losing Power Over Its Own Budget Under New Plans For an 'Economic Government of the EU'

Britain could be forced to have its Budget signed off by European leaders under plans to impose an 'economic government of the EU', it emerged yesterday.

German Chancellor Angela Merkel is pressing for 'oversight' of national economies to be included in controversial arrangements that were agreed by EU leaders yesterday.

She wants to introduce financial penalties for states with persistently high budget deficits, giving the EU a high degree of control.

This could see Britain forfeiting the £2billion annual 'structural funds' paid out to some of the nation's poorer areas by Brussels.'

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Targeting Toyota: US Economic War Directed Against Japan

Does anyone really believe that Toyota is being pilloried in the media for a few highway fatalities?

Nonsense. If Congress is so worried about innocent people getting killed, then why haven't they indicted US commander Stanley McChrystal for blowing up another 27 Afghan civilians on Sunday?

But this isn't about bloodshed and it's certainly not "safety regulations". It's about politics--bare-knuckle Machiavellian politics. An attack on Toyota is an attack on Japan's leading export. It is an act of war. Here's a excerpt from the New York Times which explains what is really going on.'

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Rothschild's Secret 'Solution' to Greek 'Problem'

A friend of mine who is a now a disilusioned high ranking member of the Jewish Freemasonry in Budapest has told me what is coming regarding the Greek crisis.

Greece was chosen to play the role of the European Union bankrupt member state in order to "create" the big problem to which the European Union is going to "find" the "solution" soon. Greece was chosen because it symbolizes Europe (nobody in Europe cares about countries like Hungary or Estonia) and because its economy was relatively easy to devastate after it renounced its own currency.

The European "elites" are using Greece to persuade the sheeple that if the Greek problem is not fixed, Southern Europe will go bankrupt which will trigger the collapse of the whole European financial system and thus the bankruptcy of the whole European economy.'

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Is Goldman Sachs Responsible for Greek Crisis?

Goldman Sachs tricky derivatives trades may have masked the Greek debt just long enough to hurt all of us again. Goldman Sachs made up an exchange rate that allowed the Greeks to look as though they were only engaging in a currency swap when, in effect, they were getting more than a billion more than they should have from the trades in credit. Its likely that Goldman made a killing on the commissions for the swaps, and then sold the swaps to a Greek bank for even higher profits.

Instead of Fixing the U.S. Economy or Creating Jobs for AMERICANS, Obama Will Spend The Money in Afghanistan and Iraq

America is in the most severe unemployment crisis since - and perhaps including - the Great Depression.

And yet Obama, like Bush, has done virtually nothing to create more jobs. Instead, they both gave trillions to the biggest banks (who are not loaning it out to the little guy) and for waging wars in Afghanistan and Iraq.

Obama is apparently escalating - not ending - the wars. And its not cheap.

According to the White House, the cost of deploying new soldiers to Afghanistan could be $1 million per soldier. Nobel prize winning economist Joseph Stiglitz says that the Iraq war will cost $3-5 trillion dollars.

As I have previously pointed out, protracted war increases unemployment, shrinks the economy, and causes recession.'

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The Economic Crisis: No, This Will Not be a Normal Cyclical Recovery

When a nation consigns its people to working for meager wages, its prosperity is doomed. The Congress, at the behest of corporate lobbyists, wrote into legislation the rules that permitted companies to offshore jobs, reduce real wages, and permit risky financial practices. Therein lies the root cause of this crisis. People merely do what the law allows. Without a prosperous people, America cannot be a prosperous nation. So welcome America to the third-world.

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EU Presidency: US and UK Economic Recovery Plans are 'A Way to Hell'

Internal European divisions are growing over the Prime Minister and US President's strategies to fight the economic crisis just one week before a critical G20 summit in London.

Mirek Topolanek, the Czech prime minister who is running a caretaker EU presidency after the collapse of his government on Tuesday, highlighted European splits over fiscal stimulus plans promoted by Mr Obama, with Mr Brown's support.

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UN Panel Says World Should Ditch the Dollar

A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.
Currency specialist Avinash Persaud, a member of the panel of experts, told a Reuters Funds Summit in Luxembourg that the proposal was to create something like the old Ecu, or European currency unit, that was a hard-traded, weighted basket.

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Bliar Urges Puppet Obama To Not Forget Global Warming Scam Amid Economic Crisis

Warning of the danger of putting environmental concerns "to one side", the former Prime Minister argued that the current economic problems "provide us not with an excuse for inaction but a reason for acting" on global warming.

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Yes Obama don't forget about the billions more you can scam off the public under your global warming taxes!

Brown: World Needs 'Global New Deal'

The world needs a "global New Deal" to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the United Kingdom said Sunday.

"We need a global New Deal -- a grand bargain between the countries and continents of this world -- so that the world economy can not only recover but... so the banking system can be based on... best principles," he said, referring to the 1930s American plan to fight the Great Depression.

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Worst Economic Collapse Ever

Canada's 75 Billion Dollar Bailout

The Conservative government has leaked the details of Tuesday's budget. They have announced a $64 billion deficit.

The Harper government, which has consistently committed itself to a "balanced budget", now claims that deficit spending is required to boost the economy at the height of a major economic recession.

Does this constitute a turnaround in federal government economic policy?
Is the government really committed to running a budget deficit with a view to stimulating demand and reversing the tide of economic decline.

Or is there a hidden agenda?

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Sovietizing The Economy: The Final Phase

“Insanity,” according to a famous definition, is a condition revealed by the habit of doing exactly the same thing repeatedly in earnest anticipation of a different result. A closely related form of derangement is megalomania, a prominent symptom of which is an individual’s self-exalting belief that he is the divine exception that can make that different result occur.

When it’s displayed in private pursuits, megalomania is a harmless if pitiable condition. When coupled with political power, it becomes the propellant of large-scale social experiments that ruin societies and kill people by the tens of millions.

Barack Obama suffers from an acute case.

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100,000 Polish Workers Say Goodbye To Britain As Jobs Become Harder To Find

Around 100,000 Polish workers have quit Britain over the past year, ministers said yesterday.
The retreat has come as jobs become harder to find and the pound has weakened against European currencies.
Officials now believe that as many as half of those who flooded in from Eastern Europe after the EU relaxed its rules in 2004 may now have gone home.
That would mean as many as 350,000 have returned over the past two years. Any exodus has yet to show up in surveys published by the Government's Office for National Statistics, which has been stepping up efforts to record accurate levels of immigration. ONS estimates have continued to show the population is increasing because of immigration

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This is probably the best indicator of the state of the economy when the Polish economic migrants start leaving in vast numbers!

Bank Fat Cats Will STILL Receive £3.5bn In Bonuses - Despite Brown's Pledge To Slash Them

City fat cats will receive 'megabucks' bonuses totalling more than £3.5billion this year despite the financial crisis, analysts predicted yesterday.
Hedge fund managers, investment bankers and commodity traders are expected to be awarded seven-figure payouts at the end of the year, according to a report by an economic consultancy.
The prediction came days after Gordon Brown called for an end to the days of 'irresponsible behaviour' and excessive bonuses as he unveiled his £500billion bank rescue plan.

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And don't think this will stop under the tories either as William Hague Has Just Proved

Rep. Michael Burgess - “We Are Under Martial Law”

Rep. Michael Burgess (R-TX) reports from the floor of the House that the Republicans have been cut out of the process and called unpatriotic for not blindly supporting the fraudulent bailout. He says the only debate has been about what talking points to use on the American people. The most ominous revelation is when he claims the Speaker has declared martial law.

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HSBC to stop paying interest on current accounts in bid to save £7million a year

Britain's biggest bank is to stop paying interest on current accounts in a bid to save millions of pounds a year.
Six million HSBC customers have been told that they will no longer receive interest on their current accounts from December.
It will save the bank around £7million a year, and follows a similar move from subsidiary First Direct and rival Barclays.
Industry experts predict other high street banks will follow as profits are squeezed through the credit crunch.
The current account market has become a fierce battleground for banks.
They threatened the end of free banking after being forced to pay out millions of pounds to customers who reclaimed charges imposed for accidentally slipping overdrawn.

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Well, they did only make £5.2 BILLION profit in the first 6 months of this year. Poor things !

US Money Supply In Greatest Contraction in Living History

Sharp contractions in the money supply and recession are two spokes on the same wheel. When the money supply shrinks, there's less economic activity, and the economy slows; it's as simple as that. An article in this week's UK Telegraph by Ambrose Evans-Pritchard shows that the country is sliding inexorably into the jaws of a deep recession.

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The Federal Reserve controls how much money is in circulation and it only contracts when they want it to !

Royal Bank of Scotland poised for biggest loss in UK banking history

THE Royal Bank of Scotland is poised to unveil the biggest loss in UK banking history after taking a hit of almost £6 billion from the credit crisis.
Britain’s second-largest bank is this week expected to reveal a pre-tax loss of at least £1 billion for the first six months of the year, with analysts warning it could slide to as much as £1.7 billion in the red.
The loss would be roughly five times higher than the deficit racked up by Barclays in 1992 at the height of the last recession.
RBS chairman Sir Tom McKillop is already under pressure from investors after the bank’s recent £12 billion rights issue. His chief executive, Sir Fred Goodwin, who marks 10 years at the bank this weekend, also faces shareholder scrutiny.

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