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Friday, September 22 2017 @ 08:19 AM CDT
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When a 30-Year Mortgage is a 30-Year Prison Sentence.

Money

Don’t Be Suckered Into Buying a House Now

By Mike Whitney

Don’t even think about buying a house for the next year or so. Not unless you can afford to flush tens of thousands of dollars down the toilet, because that’s what you’ll be doing.

Here’s what’s happening. As everyone knows, housing is driven by the same supply-demand dynamics as every other market. The problem is, the banksters have gamed the system so it looks like there’s less inventory then there really is, so prices are higher than they should be. By keeping millions of homes off the market the banks are protecting themselves from bigger losses. Unfortunately, it’s the buyer who ends up being the victim in this market-rigging scam.


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Rating Agency Egan-Jones Downgrades Goldman Sachs

Money



Goldman Sachs Downgraded from AA to AA-


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In Debt Up To Our Eyeballs

Money

The entire financial system of the western world is designed to be a debt spiral. The total amount of money and and the total amount of debt are supposed to continually expand. Today, we are in debt up to our eyeballs and it seems like nearly everyone is talking about "deleveraging" and reducing government debt.

But in a world where the entire financial system is based on debt, is there any way for massive deleveraging to take place without plunging us all into a horrific worldwide depression?


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The 9-9-9 Plan

Money

Is The Herman Cain Tax Plan A Good Idea?

As he continues to heavily tout his "9-9-9 plan", Herman Cain has seen his popularity soar. But is the Herman Cain tax plan a good idea for America? Without a doubt, the "9-9-9 plan" is simple and it is easy to remember. To most Americans, it sounds like a low tax plan. But is that the truth? As you will see below,

Herman Cain's 9-9-9 plan will actually raise federal taxes on some middle income Americans to as high as 37 percent. If the other Republican candidates understood this, they would be jumping all over Cain.


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Get Your Money OUT of Bank of America, Citigroup, Morgan Stanley

Money

Bank of America, Citigroup, Morgan Stanley Could Be Headed Toward Collapse -- Will Obama Have the Guts to Do the Right Thing This Time?

If events turn critical again and we face a repeat risk of the seizing up of financial markets as in the fall of 2008, the president will need to make a fateful decision.

By Robert Kuttner



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LOL -- This Stock Market Rally Is For Suckers

Money

Hey, have you heard? The stock market is absolutely soaring right now. The Dow was up 330 points on Monday, and overall the Dow has risen by more than 10 percent since October 3rd. So should we all be throwing our money into the stock market in order to take advantage of this tremendous rally?

Well, if you actually believe that the sovereign debt crisis has passed and that we are no longer on the verge of a massive worldwide financial crisis then I have a bridge that I would like to sell you.


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Meltdown In Two To Three Weeks

Money

Economic Apocalypse Goes Mainstream:
Meltdown In Two To Three Weeks;
It Will Spread Everywhere;
Most Serious Financial Crisis Ever;
Worse Than Great Depression

Mac Slavo


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Government Entitlements Continue for Banksters

Money

And So It Begins – The First Major European Bank Has Been Bailed Out And More Bailouts Are Coming

And so it begins. The first major European bank bailout of 2011 has now happened. French/Belgian banking giant Dexia has failed and both governments have pledged to participate in a rescue plan. But Dexia will not be the last major European bank to fail. Even now, governments all over Europe are feverishly developing plans to bail out major national banks in the event that the current financial crisis goes from bad to worse.

Instead of learning the lessons of 2008, most major European banks have continued to pile up huge mountains of debt, leverage and risk.


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The Collapse Of The Economy That Every American Voter Should Know

Money

The U.S. economy is dying and most American voters have no idea why it is happening. Unfortunately, the mainstream media and most of our politicians are not telling the truth about the collapse of the economy. This generation was handed the keys to the greatest economic machine that the world has ever seen, and we have completely wrecked it.

Decades of incredibly foolish decisions have left us drowning in an ocean of corruption, greed and bad debt. Thousands of businesses and millions of jobs have left the country and poverty is exploding from coast to coast.


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Bad Financial News Keeps Pouring In

Money

14 Facts That Just Might Scare The Living Daylights Out Of You

Will the bad financial news ever stop? A lot of people in the financial world were hoping for a much better fourth quarter after an absolutely disastrous third quarter. Well, if Monday was any indication, October could end up being a really rough month for global financial markets. So much bad financial news keeps pouring in that it really is a challenge to try to keep track of it all. Greece seems to get closer to defaulting on their debts with each passing day, and it appears that Germany is not going to contribute any more bailout money beyond what they have already committed to. Major banks on both sides of the Atlantic are on the verge of collapse, and investors all over the world are afraid that we may have another "Lehman Brothers moment" soon.


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Uh Oh: 90 Percent Of Americans Rate Economic Conditions In The U.S. As “Poor”

Money

Uh oh - are we rapidly reaching another major economic tipping point? According to a new CNN/ORC International Poll, 90 percent of the American people believe that economic conditions in the United States are "poor". This represents a significant increase from when the same question was asked in June. Back then, 81 percent of the American people considered economic conditions to be "poor".

To put this in perspective, only 11 percent of Americans rated economic conditions in the U.S. as "poor" back in January of 1999.


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Prophets Of Doom

Money

12 Shocking Quotes From Insiders About The Horrific Economic Crisis That Is Almost Here

We are getting so close to a financial collapse in Europe that you can almost hear the debt bubbles popping. All across the western world, governments and major banks are rapidly becoming insolvent. So far, the powers that be are keeping all of the balls in the air by throwing around lots of bailout money. But now the political will for more bailouts is drying up and the number of troubled entities seems to grow by the day.

Right now the western world is facing a debt crisis that is absolutely unprecedented in world history.


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China paper warns of euro crisis "Black Death"

Money

Chris Buckley

The "Black Death" of the debt crisis across the euro zone will hurt China's exports, although Beijing's relatively small holdings of euro assets will limit damage to foreign exchange reserves, the nation's top official newspaper said on Monday.


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The Average American Family Is Getting Absolutely Pulverized By This Economy

Money

How in the world does the average American family survive in this economy? The median household income is a little bit less than $50,000 a year right now. So let's call that about $4000 a month. But before any of that money gets spent, you have to take out at least $1000 in taxes. That leaves about $3000 a month to pay all the bills with. With that $3000 you have to pay the mortgage (or rent), make the car payments, make the student loan payments, pay for power and water, pay for health insurance, pay for home insurance, pay for car insurance, pay the phone bill, pay the Internet bill and pay the cable bill.


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IMF needs too much money to rescue eurozone

Money

The IMF will take all possible measures at the meeting of finance ministers of the Group of Twenty and the International Monetary Fund in Washington to help Europe solve its debt problem. IMF Managing Director Christine Lagarde stated that the IMF may need hundreds of billions of dollars to solve this question in case the European crisis aggravates.


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Stock Market Crash 1929, Mystery Unraveled?

Money

Wim Grommen writes: In the twenties of the last century the world, and especially the United States, experienced an economical high. As a result of this, share and stock prices rose to unprecedented heights, beyond reasonable values. The underlying economy had decreased in strength without this being reflected on the stock exchange. Investors were euphoric and stock prices were forced up against all economic logic. (1)

Wim Grommen


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No Shots Left in the Locker

Money

The Big Plunge

By MIKE Whitney

The perception now is that the Fed is out of bullets at the worst possible time, just as the economy is starting to crater.


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Follow the Money:

Money

Behind the European Debt Crisis Lie More Bank Bailouts

By David MCNALLY

One of the secrets of capitalism, after all, is the way in which it obscures and conceals processes of economic exploitation. Wealth moves and accumulates along hidden circuits that tend to elude us.


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The Social Contract

Money

By Paul Krugman

Do the wealthy look to you like the victims of class warfare?

This week President Obama said the obvious: that wealthy Americans, many of whom pay remarkably little in taxes, should bear part of the cost of reducing the long-run budget deficit. And Republicans like Representative Paul Ryan responded with shrieks of “class warfare.”


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Is Financial Instability The New Normal?

Money

The financial world is officially going crazy. Can you believe what is going on out there right now? Financial markets have been jumping up and down like crazy for months and this is creating a lot of fear. Other than during the financial crisis of 2008, in the post-World War II era have we ever experienced as much financial instability as we are seeing right now? Should we just accept that massive financial instability is going to be part of "the new normal" in the financial world? The wild swings that we are witnessing in the global financial marketplace are making a whole lot of people very nervous right at the moment.

When markets go up, they tend to do it slowly and steadily.


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Depressed As A Nation?

Money

80 Percent Of Americans Believe That We Are In A Recession Right Now

According to a brand new Gallup poll, 80 percent of Americans believe that we are in a recession right now. Of course the government insists that the recession ended quite some time ago, but apparently the message is not sinking in. Not only that, most Americans also do not believe that things are going to get better any time soon. According to the Gallup poll, 61 percent of Americans believe that the economy will be the same as it is right now or will be even worse one year from now. Two years ago, only 35 percent of Americans felt that way. Talk about pessimism! So are we depressed as a nation?


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Nervous Breakdown?

Money

21 Signs That Something Big Is About To Happen In The Financial World

Will global financial markets reach a breaking point during the month of October? Right now there are all kinds of signs that the financial world is about to experience a nervous breakdown. Massive amounts of investor money is being pulled out of the stock market and mammoth bets are being made against the S&P 500 in October. The European debt crisis continues to grow even worse and weird financial moves are being made all over the globe. Does all of this unusual activity indicate that something big is about to happen? Let's hope not. But historically, the biggest stock market crashes have tended to happen in the fall.

So are we on the verge of a "Black October"?


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China To ‘Liquidate’ US Treasuries

Money

By Ambrose Evans-Pritchard

The debt markets have been warned.

A key rate setter-for China’s central bank let slip – or was it a slip? – that Beijing aims to run down its portfolio of US debt as soon as safely possible.

“The incremental parts of our of our foreign reserve holdings should be invested in physical assets,” said Li Daokui at the World Economic Forum in the very rainy city of Dalian – former Port Arthur from Russian colonial days.


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Unelected, Unaccountable, Unrepentant

Money

The Federal Reserve Is Using Your Money To Bail Out European Commercial Banks Once Again

For a moment, imagine that there is a privately-owned organization in the United States that can create U.S. dollars out of thin air whenever it wants and can loan that money to whoever it wants to. Imagine that this organization is able to act with the full power of the U.S. government behind it, but that nobody in the organization is ever elected by the American people, and that for all practical purposes the organization is not accountable to the president or to Congress.

Imagine that the organization is able to make trillions of dollars of secret loans to banks, to foreign governments and even to their close friends without ever having to face a comprehensive audit.


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Second wave of economic crisis on the way

Money

The heads of Russian financial departments said that the international economic situation will most likely worsen at the end of the current year. Another crisis in the global economy may lead to negative consequences for the Russian economy. The current risks are first and foremost connected with the ongoing crisis in the European Union. Russia already prepares to lend money to its primary offshore - Cyprus.


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Is The End Of The Euro In Sight?

Money

The future of the euro is hanging by a thread at the moment. The massive debt problems of nations such as Greece, Italy and Portugal are dragging down the rest of the Europe, and the political will in northern Europe to continue to bail out these debt-ridden countries is rapidly failing. Could the end of the euro actually be in sight? The euro was really a very interesting experiment. Never before had we seen a situation where monetary union was tried without political and fiscal union along with it on such a large scale.

The euro worked fairly well for a while as long as everyone was paying their debts. But now Greece has collapsed financially, and several other countries in the eurozone (including Italy) are on the way. Right now the only thing holding back a complete financial disaster in Europe are the massive bailouts that the wealthier nations such as Germany have been financing.


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Don't Blame Bush: This is Obama's Depression

Money

By Mike Whitney

To continue to pretend that the Democratic Party is a viable alternative to the GOP, is beyond misguided; it's delusional.

This is Barack Obama's economy now. George Bush can no longer be blamed. And if the economy dips back into recession--as it most certainly will--then that will be Obama's fault, too. Because it's Obama's fiscal policies that are driving the economy back into the ditch. This is no small matter, because Obama's failure will likely result in political change that will deliver the White House to the GOP in 2012.


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Goldman Sachs Secretly Believes That An Economic Collapse Is Coming

Money

Goldman Sachs is doing it again. Goldman is telling the public that everything is going to be just fine, but meanwhile they are advising their top clients to bet on a huge financial collapse. On August 16th, a 54 page report authored by Goldman strategist Alan Brazil was distributed to institutional clients.

The general public was not intended to see this report. Fortunately, some folks over at the Wall Street Journal got their hands on a copy and they have filled us in on some of the details. It turns out that Goldman Sachs secretly believes that an economic collapse is coming, and they have some very interesting ideas about how to make money in the turbulent financial environment that we will soon be entering.


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Cutting Spending Will Increase the Deficit

Money

By Mike Whitney

There should be a restructuring of household and personal debts "including",-- "debt forgiveness for low-income Americans.

The US consumer's decade-long spending spree has ended, but there's still an ocean of red ink left to mop up. And with housing prices falling and unemployment tipping 9 percent, it will take longer to clear the family balance sheet than many had anticipated.


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The Financial World Is About To Hit The Big Red Panic Button

Money

Most of the worst financial panics in history have happened in the fall. Just recall what happened in 1929, 1987 and 2008. Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red panic button.

Wave after wave of bad economic news has come out of the United States recently, and Europe is embroiled in an absolutely unprecedented debt crisis.


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'Money' the perfect tool for Enslavement

Money

By Brian Jonathan Liew

Governments have been using money as a form of control ever since it ever existed. They have achieved this through their centrally controlled banks which they manipulate the flow and availability of money available to the public via interest rates. As today's medium of exchange for goods and services, "Money" is what everyone is striving for in order to obtain the goods and services they require and demand. In today's materialistic and superficial world and because of our indoctrination that having materialistic possessions will provide us eternal love and happiness, we believe that money is the only way out of our misery and problems. Thus most of us make that our first priority in our lives because all of us want to achieve a better life for ourselves.


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Wall Street Aristocracy Got $1.2 Trillion In Secret Loans

Money

Bernanke's Federal Reserve Slush Fund

The Helicopter was working overtime behind the scenes.


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The Essence Of Banking...

Money

When you control the debt of war, the players are mere pawns.


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Anyone Playing the Market Now is a Psychopath

Money

Myotonic Markets

By Keiser Report:

Max talks to Chris Martenson about the insolvency of the banking system and about Dr. Bernanke's misdiagnosis of the cause of the financial crisis


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3, 2, 1: Global Debt Meltdown

Money

We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world.

But now that debt bubble is starting to burst and the bills are coming due. Many believe that "ground zero" for the coming global debt meltdown will be in Europe.


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Stock Tip: Be Worried.

Money

Workers Are Consumers.

Robert Reich

Repeat after me: Workers are consumers. Consumers are workers.

We’re slouching toward a double dip, and Wall Street is imploding, because consumers – whose spending is 70 percent of the economy – have reached their limit.


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The System is Ready to Blow

Money

We've Been Warned: The System is Ready to Blow

Only a new way of managing the global economy can prevent more mayhem in the markets and on the streets

By Larry Elliott

For the past two centuries and more, life in Britain has been governed by a simple concept: tomorrow will be better than today. Black August has given us a glimpse of a dystopia, one in which the financial markets buckle and the cities burn. Like Scrooge, we have been shown what might be to come unless we change our ways.


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Bad News

Money

The bad news about the economy just keeps rolling in. If this is an economic recovery, what in the world is the next "recession" going to look like? Today there was another huge truckload of bad economic news. The stock market had another 400 point "correction", applications for unemployment benefits are up again, inflation is higher than expected, home sales have dropped again and Europe is coming apart at the seams.

The financial markets have been in such a state of chaos recently that days like today don't even seem "unusual" anymore.


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Venezuela Not in a Recession! Chavez was RIGHT!

Money

Hugo Chavez Nationalizes (repatriots) Venezuelan Gold Industry,

Demands 211 Tons Be Returned From Abroad

JPMorgan, Bank Of England & ETFs Scramble For Physical Metal



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The World Could Be Headed For An Economic Apocalypse

Money

20 Signs That The World Could Be Headed For An Economic Apocalypse In 2012

If you thought that 2011 was a bad year for the world economy, just wait until you see what happens in 2012.  The U.S. and Europe are both dealing with unprecedented debt problems, the financial markets are flailing about wildly, austerity programs are being implemented all over the globe, prices on basics such as food are soaring and a lot of consumers are flat out scared right now.  Many analysts now fear that a "perfect storm" could be brewing and that we could actually be headed for an economic apocalypse in 2012.  Hopefully that will not happen.  Hopefully our leaders can keep the global economy from completely falling apart.

  But right now, things don't look good.


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"Congress Takes Money From The American People And Gives It To War Profiteers And Wall Street!"

Money

by Dennis Kucinich

"It's A Fake Crisis, Social Security Did NOT Create The Deficit! It Will Be Able To Pay 100% Of Benefits Through 2037!" (Video)


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$5 Trillion Wiped Out

Money

GLASS-STEAGALL IS THE SOLUTION

Hyperinflation Looms

by Helga Zepp-LaRouche

The latest phase of the systemic collapse, which has wiped out at least $5 trillion on the international stock exchanges in recent weeks—that's the equivalent of the capital value of the yearly Japanese Gross National Product—is proceeding even further and more dramatically. Now America, with the downgrading of its credit rating by Standard and Poor's, is being subjected to the Greek treatment. If the Fed and the European Central Bank (ECB) open the money gates up even further, as is apparently their intention, the global financial system will quickly vanish into thin air, in a hyperinflationary glut of money.


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The Stock Market Crash Of 2011 vs 1929?

Money

How far does the stock market have to go down before we officially call it a crash? The Dow is now down more than 2,000 points in just the last 14 trading days. So can we now call this "The Stock Market Crash of 2011"? Today the Dow was down 519 points. Yesterday, an announcement by the Federal Reserve indicating that the Fed would keep interest rates near zero until mid-2013 helped the Dow surge more than 400 points, but all of those gains were wiped out today.

It turns out that the Federal Reserve was only able to stabilize the financial markets for a single day.


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The market has spoken: Austerity is bad for business

Money

By Ellen Brown

It used to be that when the Fed Chairman spoke, the market listened; but the Chairman has lost his mystique. Now when the market speaks, politicians listen. Hopefully they heard what the market just said: government cutbacks are bad for business. The government needs to spend more, not less. Fortunately, there are viable ways to do this while still balancing the budget.


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Why You Should Be Deeply Concerned

Money

A 634 Point Stock Market Crash And 8 More Reasons Why You Should Be Deeply Concerned That The U.S. Government Has Lost Its AAA Credit Rating

Are you ready for part two of the global financial collapse? Many now fear that we may be on the verge of a repeat of 2008 after the events of the last several days. On Friday, Standard & Poor's stripped the U.S. government of its AAA credit rating for the first time in history. World financial markets had been anticipating a potential downgrade, but that still didn't stop panic from ensuing as this week began.


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Second U.S. Depression could be worse than the first

Money

By Kase Wickman

A second recession, what many are calling the double-dip recession, could be on its way, economists warn. And should it come, it will probably be even more devastating than the previous period of economic woe.


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It's highway robbery

Money

The Credit Crisis Rages On

Why the Dow fell 512 points on Thursday

By Mike Whitney

What does it all mean?


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Chinese lowers debt rating of the U.S.

Money

by Umberto Martins, with agencies

The Dagong China rating agency on Wednesday lowered the rating of U.S. debt from A + to A "with negative outlook, after the announcement of the agreement to increase the debt ceiling."


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Run On US/European Banks Brings World To Brink Of War

Money

By: Sorcha Faal

A shocking Russian Finance Ministry report prepared for Prime Minister Putin is warning today that massive liquidity runs on American and European financial institutions over the past fortnight are in danger of collapsing the entire global economic system leaving war as the only “option” for the West to use to protect itself from complete obliteration.


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Dow Jones index plunges 513

Money

By Matt Krantz and John Waggoner

Just how worried investors are about the economy became clear in dramatic fashion Thursday when stocks suffered their biggest hit since early 2009 in a drop reminiscent of the financial crisis.




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Christianity

All national institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions set up to terrify and enslave mankind, and monopolize power and profit.
-Thomas Paine, founding father of the U.S.

Once there was a time when all people believed in God and the church ruled. This time is called the Dark Ages.
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When one does away with oneself one does the most estimable thing possible: one thereby almost deserves to live.
Friedrich Nietzsche

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"If by a “Liberal” they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people — their health, their housing, their schools, their jobs, their civil rights, and their civil liberties — someone who believes we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a “Liberal,” then I’m proud to say I’m a “Liberal.” ~ John F. Kennedy, 1960

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