The BLS reports that the unemployment rate dropped from 9.7% in May to just 9.5% in June. The recovery is well under way if you’re simply looking at headlines.
The fine print, however, tells a different story.
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The White House gets its way again. They get their way on two measures that would have given the people at least a little control of the “too big too fail” banking system. But how they got it, well that might just be the REAL story of the day.
“I mean this really sounds like market manipulation to me. This is outrageous.”
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German Chancellor Angela Merkel on Thursday slammed “treacherous” practices by banks during the Greek crisis and said governments must crack down on speculators hunting profits in the turmoil.
Merkel, whose Christian Democrats face a tough re-election battle in Germany’s most populous state Sunday, railed against gamblers on the financial markets who she said were exacerbating an already volatile situation.
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European Central Bank chief Jean-Claude Trichet’s announcement that the Bank for International Settlements is to become the primary engine for global governance is a shocking admission given the fact that this ultra-secretive menagerie of international bankers was once controlled by top Nazis who, in collusion with global central banks, funneled money through the institution which directly financed Hitler’s war machine
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In the wake of the financial crisis that erupted in 2008, leading capitalist nations and blocs of nations are employing increasingly aggressive forms of protectionism to advance their interests.
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Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and undermining the euro by enabling European governments to hide their mounting debts.
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America’s fragile high street banks are bracing themselves for a fresh financial crunch as a wave of commercial property mortgages go sour on offices, shops and factories, causing losses of up to $300bn (£192bn) hitting nearly 3,000 small- and medium-sized financial institutions.
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The Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words
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