World Credit crunch losses will top $945-billion IMF side-effects of the credit problems will be ...

Feeling betrayed,

Greenspan hits back

Former chief of the U.S. Federal Reserve has embarks on an international public relations blitz to set the record straight about the credit bubble...

http://www.reportonbusiness.com/servlet/story...

Toronto takes crude gains, New York struggles with quarterly pessimism

1 hr ago | CBC News

Steadfast commodities prices helped the Toronto market end Wednesday relatively flat, as crude oil futures hit a new high, and New York slipped lower on concerns tied to weak first-quarter earnings reports.

http://www.cbc.ca/cp/business/080409/b040967A...

Related Topix: Financial Security Assurance Holdings, Industrial Machines, Insurance, Leasing, Financial Services, Financial Federal, Financial Markets, York (Toronto, ON), Canada, Toronto, ON

IMF (which itself is in trouble lmao)
:situation in BRIC countries is quite favourable:

The countries that build market-oriented economy, including Russia are proved to be stable in withstanding the global credit and finance crisis. A report by the International Monetary Fund says that unlike the Western countries the situation in Russia, China, India and Brazil is quite favourable. The economies of the four countries grow rapidly, have huge gold and foreign currency reserves and have huge volume of mutual trade. All this protect them reliably from the current financial upheavals.

http://ruvr.ru/main.php...

Canada well we have a "market" economy too, the ghouls that make billions off our backs will ensure that we continue to slide into a depreciating purchasing power position.

But we still have a very healthy national debt. The future is very bright indeed for banks.

Hurray!!!!!!!!

Oil hits record high

http://www.ft.com/cms/s/d9718494-0652-11dd-80...

Places like Haiti are already into all out revolt at the cost of living, the 'peasantry'(citizens) tried to storm the palace yesterday.

Inflation is rising worldwide, but on the bright side, at least a few rich speculators can make some more money on the markets.

IMF Sells 440.3 Tons Of Gold

Source: All Headline News

Washington (AHN)- The executive board of the International Monetary Fund has approved the sale of some 440.3 tons of its gold supplies in a wide-ranging financial overhaul and to replenish its depleting coffers.

Dominique Strauss-Kahn, IMF managing director, welcomed the board's move on Monday, the action seen as a buffer to the expected $400 million budget deficit the Washington-based lending institution could experience in the next few years.

The board is projecting to generate at least $11 billion from the sale of at least 12 percent of its gold reserve. The money to be generated from the sales would fund the reorganization of the IMF and finance lending to needing countries.

Strauss-Kahn said it will also shore up diverse investments to generate income.

However, the IMF still needs congressional approval and legislative action of the 184 member-nations of the IMF.

The IMF is facing the challenge of cutting costs and trimming its bureaucracy, after a downturn in lending as some countries refuse to borrow money due to IMF's strict conditions.

The lending firm has a projected budget deficit of at least $140 million for the fiscal year 2008 which will end on April 30.

However, the IMF said the sale of the gold will be carried out in several transactions over several years so as not to affect the international gold market.

Global price of gold reached an all-time high of over $1,000 an ounce.

That's ok, it'll be snapped up by China and especially Russia with their oil revenue.

The IMF can be left with more toilet paper.

Tick,
Tock
Tick
Tock
Tick
Tock.....

The IMF is famous for privatization, economic "shock therapy" and generally destroying nations until such time as bread crumbs look like gold.

An instrument of global corporate fascism.

IMF "shock therapy" was applied to regions like the former Yugoslavia and Argentina.

Canada's ABCP Bailout - " a sideshow in the global Trillion Dollar Meltdown

4 hrs ago | National Post

Canada's ABCP Bailout -' a sideshow in the global Trillion Dollar Meltdown It is of course good news that small clients of Canaccord Capital Inc.

http://network.nationalpost.com/np/blogs/weal...

Related Topix: Personal Finance, Retirement, Canada, Carp, ON

The news of more Americans being forced from their homes because they were duped into a home loan they couldn’t afford is disheartening. Unfortunately it’s under-reported, despite it dominating headlines.
And of the fastest growing crimes is Identity Theft via online scams. There are new ways scammers can access your information and there are more and more retailers and online business people who are not protecting your personal information.
Stay on top of the news and inform your friends by reading the simply sorted feeds which help you sort through the headlines and find the news most important to you on a daily basis. You can even embed your favorite subject’s RSS feed to your blog or homepage by visiting http://www.the-feed-store.com .

Muckraker462 wrote:

The news of more Americans being forced from their homes because they were duped into a home loan they couldn’t afford is disheartening. Unfortunately it’s under-reported, despite it dominating headlines.
And of the fastest growing crimes is Identity Theft via online scams. There are new ways scammers can access your information and there are more and more retailers and online business people who are not protecting your personal information.
Stay on top of the news and inform your friends by reading the simply sorted feeds which help you sort through the headlines and find the news most important to you on a daily basis. You can even embed your favorite subject’s RSS feed to your blog or homepage by visiting http://www.the-feed-store.com .

It is disheartening, because the fraud system of banking and bankers should be prosecuted by a truly independant judicial system, all the way up to the Fed reserve and the US gov't itself.

The Fed started inflating the housing bubble in earnest around 2001, after the collapse of the dot.com bubble, which failed with the stock market decline of 2000-2002. Then, over a trillion dollars of wealth, including working peoples’ retirement savings, simply vanished.

Also according to mortgage specialists, it was in March 2001, two months after George W. Bush became president, that a “wave of intoxicated fraud” started. Mortgage companies began to be instructed, by the creditors/lenders, on how to package loan applications as "master strokes of forgery," so that completely unqualified buyers could purchase homes.

THERE COULD NOT HAVE BEEN A SUDDEN ONSET OF INDUSTRY-WIDE ILLEGAL ACTIVITY WITHOUT DIRECTION FROM HIGHER UP IN THE MONEY CHAIN. IT COULD NOT HAVE CONTINUED WITHOUT REPORTS BEING FILED BY WHISTLEBLOWERS WITH REGULATORY AGENCIES. TODAY THE GOVERNMENT IS PROSECUTING MORTGAGE FRAUD, BUT THEY CERTAINLY HAD TO KNOW ABOUT IT WHILE IT WAS ACTUALLY GOING ON.

http://globalresearch.ca/index.php...

Richard C. Cook is the author of “We Hold These Truths: The Hope of Monetary Reform,” scheduled to appear by September 1, 2007. A retired federal analyst, his career included service with the U.S. Civil Service Commission, the Food and Drug Administration, the Carter White House, and NASA, followed by twenty-one years with the U.S. Treasury Department. His articles on monetary reform, economics, and space policy have appeared on Global Research, Economy in Crisis, Dissident Voice, Arizona Free Press, Atlantic Free Press, and elsewhere. He is also author of “Challenger Revealed: An Insider’s Account of How the Reagan Administration Caused the Greatest Tragedy of the Space Age.” His website is at www.richardccook.com . He appears frequently on internet radio at www.themicroeffect.com on Saturday mornings at 11 a.m. Eastern.


Richard C. Cook is a frequent contributor to Global Research. Global Research Articles by Richard C. Cook

http://globalresearch.ca/index.php...

The sooner people realize that gov't has become the enemy of the people, and are only beholden to lobbyists, corporate elite, and themselves is the day people see the truth.

siloviki wrote:

Hurray!!!!!!!!
Oil hits record high
http://www.ft.com/cms/s/d9718494-0652-11dd-80...
Places like Haiti are already into all out revolt at the cost of living, the 'peasantry'(citizens) tried to storm the palace yesterday.
Inflation is rising worldwide, but on the bright side, at least a few rich speculators can make some more money on the markets.

Some of us have inflation protection in our contracts never understand why others don't negotiate this with their employers also.

Anyways Right now is a funny time for our economy. Just wait things will be better when China and India increase their standard of living there labor won't be so cheap in like 20 years never know might be cheaper to hire an American

An Uncomfortable Spotlight in Davos
Pratap Chatterjee
January 31st, 2008

The CEOs of three-quarters of the world's 100 largest companies have just completed an uncomfortable weekend at the tiny Swiss ski resort of Davos,

while their companies' share prices nosedived on global stock markets, amid concern that the U.S. economy is staggering towards recession...

http://www.corpwatch.org/article.php...

Alberta worker wrote:

<quoted text>
Some of us have inflation protection in our contracts never understand why others don't negotiate this with their employers also.
snip

When You are Bargaining with an Employer who Knows they can Raise Their Rates 30 % with No Restrictions then You might get a CPI Index Clause in Your contract & then there's the B/S of a 1 % CPI raise that doesn't take into account Your 30% Increase

Canada wrote:

<quoted text>
When You are Bargaining with an Employer who Knows they can Raise Their Rates 30 % with No Restrictions then You might get a CPI Index Clause in Your contract & then there's the B/S of a 1 % CPI raise that doesn't take into account Your 30% Increase

what is a CPI or a B/S?

All I know is they pay me 1% above the inflation rate, it took us going on strike for a week to get it costing them millions and got the government involved. You gotta stand up and demand things sometimes don't let them walk all over you.

Consumer price index

and.

BULLSHIT.

Same pile. Consumer price index is just a gov't propaganda tool (LIES) to obscure the real cost of living.

Alberta worker wrote:

<quoted text>
Some of us have inflation protection in our contracts never understand why others don't negotiate this with their employers also.
Anyways Right now is a funny time for our economy. Just wait things will be better when China and India increase their standard of living there labor won't be so cheap in like 20 years never know might be cheaper to hire an American

This is the private sector, not too much in the way of contracts. We "negotiate", and we can find another job.

The gov't just takes it's socialist taxes off us. But they won't go without their COL indexed salaries.