Canadian Banks Have 4 Billion in cash available in their vaults ONLY. Total Cash in the system is 50 Billion. Total Loans outstanding: 1.5 Trillion. Fraud? You decide: (Interesting Video for Americans too.)

DENVER — Colorado’s minimum wage will drop 3 cents in the new year, marking the first decrease in any state’s minimum wage since the federal minimum was adopted in 1938. Colorado’s wage is dropping from $7.28 an hour to the federal minimum of $7.25. That’s because Colorado is one of 10 states that tie the [...]

Third-quarter tax revenue for state and local governments was down 6.7 percent through Sept. 30, marking the fourth consecutive quarter of decline. Tax revenue in this year’s third quarter totaled $266.5 billion, compared with $285.6 billion reported for the third quarter of 2008, according to the U.S. Census Bureau. Revenue has been dropping as the [...]

Twenty-five US states are running out of federal funds to pay unemployment benefits to jobless Americans. According to The Washington Post, currently 25 states have been forced to borrow USD 25 billion from the federal government to keep their unemployed a float. The Department of Labor estimates that by 2011 some 40 states will have [...]

The European Commission (EC) itself has warned that the finances of half of the Eurozone’s sixteen economies are at risk of becoming ‘unsustainable’, essentially bankrupt. As shown in the Wall Street Journal graphic below, Spain, Ireland, Netherlands, Slovenia, Slovakia, and Greece are all teetering on the brink.While relatively better off European nations would prefer not [...]

The decade ahead could be a brutal one for America’s unemployed – and for people with jobs hoping for pay raises. At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 percent and keep it [...]

IF THE world appears to have escaped relatively unscathed by social unrest in 2009, despite suffering the worst recession since the 1930s, it might just prove the lull before the storm. Despite a tentative global recovery, for many people around the world economic and social conditions will continue to deteriorate in 2010. An estimated 60m [...]

NEW YORK – Tavern on the Green, once America’s highest-grossing restaurant, is singing its culinary swan song.The former sheepfold at the edge of Central Park, now ringed by twinkling lights and fake topiary animals, is preparing for New Year’s Eve, when it will serve its last meal. Just three years ago, it was plating more [...]

(snippet) Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes [...]

Many Americans are not buying the recent stock market rally. This is being reflected in multiple polls showing negative attitudes towards the economy and Wall Street. Wall Street is so disconnected from the average American that they fail to see the 27 million unemployed and underemployed Americans that now have a harder time believing the [...]