This is No Recession. It’s a Planned Demolition

Working people are not being crushed by accident, but according to plan. It is the way the system is supposed to work. Bernanke knows that sustained demand requires higher wages and a vital middle class. But what does he care. He’s not a public servant. He works for the banks. That’s why the Fed’s monetary […]

IMF warns recession will be ‘unusually long-lasting’

More than half of the world’s countries have been plunged into recession by the credit crunch, a higher proportion than at any time since 1960, according to the International Monetary Fund, which warns today that the downturn is likely to be “unusually severe and long-lasting”, and will starve developing countries of resources. As the world’s […]

U.S. Job Losses Signal Recession Will Be Long, Deep

By Rich Miller and Bob Willis Dec. 6 (Bloomberg) — The U.S. economy may be headed for its deepest and longest recession since World War II as mounting job losses take their toll on consumer confidence and spending. Employers cut payrolls last month at the fastest pace in 34 years as the unemployment rate rose […]

Recession over, technically: Bollard

I really would like to know what color the sky has on Bollard’s planet because he clearly doen’t live on this one. On this planet we are not governed by our local Reserve bank but by the Federal reserve and the London bankers. Bollard’s rate cuts are just another way of robbing us of whatever […]

It’s official: Recession since Dec. ’07

Well duh, that was obvious wasn’t it? NEW YORK ( — The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy . The NBER is a private group of leading economists charged […]

Recession confirmed – GDP falls

GDP shrank 0.2 per cent in the June quarter, confirming what everyone already knew – that the country is in recession. The smaller than expected June quarter decline followed a fall of 0.3 per cent in the three months to March, so the country now meets the common definition of recession, two consecutive quarters of […]

Recession confirmed, but we’ve reached the bottom, say economists

What are these people basing this on? What negative factors? The whole Financial sector is collapsing worldwide and there is just no stopping it. The New Zealand economy is being hit by a salvo of negative factors and is in recession , the New Zealand Institute of Economic Research said today. In its quarterly predictions […]

Aust home-loan approvals shrink for fifth month

For those Kiwi’s that think it is going to be any better in Oz. Australian home-loan approvals fell more than expected in June as decade-high interest rates scared buyers out of the real estate market. The number of home loans, seasonally adjusted, dropped 3.7 percent in June from the previous month, according to the Australian […]

Downturn pushes more Americans to food banks

Still feel that New Zealand is an independent little Nation which has aeconomy not dependent on America’s fortune and willingness to consume more than any other people on earth? According to the Hamilton and Auckland foodbanks the people who need food is on the rise in NZ too. With an artificially created international housing bubble […]