“If there were to be a negative shock to the economy…we don’t have a lot of room using our traditional tried and true methods to respond.” These were words of Federal Reserve Chair Janet Yellen, who delivered her semi-annual testimony on the United States economy to Congress on Tuesday. Yellen essentially conceded to the fact […]
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Moody’s warns U.S.-style housing collapse could see Canadian real estate prices fall 35%
Should a United States-style housing collapse occur in Canada then mortgage lenders and insurers could see the loss of close to $17 billion, warns a new report from Moody’s Investors Service. With the Canadian mortgage market facing “systemic vulnerability,” a significant crisis could lead Canadian banks and mortgage insurers losing more than $17 billion. Moreover, […]
Paging Donald Trump: Zimbabwe banning import of basic commodities (bottled water, coffee creamers, soap)
New data from the Zimbabwe Statistical Agency (Zimstat) found that the impoverished African nation imported more than $2 billion worth of goods, while exporting just $948 million so far this year. The country now has a trade deficit of $1.122 billion. In a bid to protect local industries and lower this trade deficit, the Zimbabwe […]
LOL: Vin Scully destroys ‘Socialist Paradise’ Venezuela during MLB broadcast
Despite socialism’s numerous and catastrophic failures over the past century, there is still endless support for the system, even with what’s going on in Venezuela, the so-called Socialist Paradise. If you’re unaware of what’s transpiring in socialist nations because you’re concentrating all of your attention on sports then legendary MLB announcer Vin Scully has you […]
Why Brexit is Better for Britain
By: Thorsten Polleit On 23 June 2016, the people of Great Britain will vote whether to stay in the European Union (EU) or leave it. The pro-EU camp argues that leaving the EU will cost Britain dearly in terms of economic prosperity, financial stability, and domestic security. In fact, people are being told that exiting […]