Free Republic

The fomenting of the hysteria surrounding Climate Change is the pandemic that is never going away, and there’s a reason for that. No, man-made activities are not causing the climate to change to any great degree, but the amount of power and money being generate by the climate gatekeepers is truly a change agent. Climate Change is a religion now, the world’s leaders its high priests, and you and I are the sacrifice that they are offering to their god. So who is the keynote speaker at the Summit for a New Global Financial Pact? None other than our little...

If the Chinese yuan were to become the global reserve currency, it would, in essence, give the CCP the ability to cripple entire nations.In July 1944, 44 delegates from Allied countries came together during World War II in Bretton Wood, New Hampshire. The goal? Devise an international currency system to manage foreign exchange that would disadvantage no country and effectively facilitate post-war rebuilding and commerce. The outcome: The U.S. greenback would be the world’s reserve currency.It has been almost 80 years since, and all nations have been better off with a United States dollar-dominated world. World gross domestic product (GDP)...

“The story did not end the way it was meant to,” Pope Francis wrote recently, deftly excommunicating about a half-century’s worth of economic ideology. In a striking, 43,000-word-long encyclical published last Sunday, the pope put his stamp on efforts to shape what's been termed a Great Reset of the global economy in response to the devastation of COVID-19. The “story” he’s referring to is neoliberalism, a philosophy espousing austerity, privatization, deregulation, unbridled markets, and relatively weak labour laws. While it’s been faithfully told through innumerable economists and policy-makers since the 1970s, and put into practice in prominent ways, the pope...

The coronavirus is upending the global economy in a lot of ways. Many companies are allowing their employees to work remotely forever. Millions of Americans remain unemployed due to shutdowns and cutbacks. And the future is still very cloudy as to what shape a recovery will eventually take. Our latest visualization captures the state of the global economy on the eve of all the coronavirus disruption. The U.S. remains by far the largest economy in the world with a GDP of $21.43T or 24.42% of the entire globe. China’s economy grew from 2018 to 2019 to $14.34, but the country...

Chesapeake Energy Corporation said Sunday it had filed for bankruptcy amid a drop in oil and gas demand and prices due to the coronavirus pandemic. Chesapeake Energy said in a release it filed for Chapter 11 bankruptcy and will continue to operate throughout its restructuring process. The Oklahoma City-based company said it secured a $925 million debtor-in-possession financing from certain lenders under Chesapeake’s revolving credit facility, which will be available upon court approval. The company and certain lenders under its revolving credit facility also agreed to the principal terms of a $2.5 billion exit financing, consisting of a new $1.75...

“The economic devastation wrought by the pandemic could ultimately kill more people than the virus itself,” The Los Angeles Times (“The Times”) admitted in a shockingly anti-liberal media narrative story published May 11. The story noted that the United Nations predicted that “a global recession will reverse a three-decade trend in rising living standards and plunge as many as 420 million people into extreme poverty, defined as earning less than $2 a day.”

It also said that economic activity in Europe and Asia was surprisingly stronger than expected last year, and global growth in 2017 was now estimated to have reached 3.7 percent, 0.1 percentage point higher than the Fund projected in October. “The U.S. tax policy changes are expected to stimulate activity, with the short-term impact in the United States mostly driven by the investment response to the corporate income tax cuts,” the IMF said in the update, which was released on the sidelines of the World Economic Forum in Davos, Switzerland. “The effect on the U.S. growth is estimated to be...

The Economist magazine on Wednesday named a potential Donald Trump presidency as one of its top 10 global risks. “In the event of a Trump victory, his hostile attitude to free trade, and alienation of China and Mexico in particular, could escalate rapidly into a trade war — and at least scupper the Trans-Pacific Partnership [TPP] between the U.S. and 11 other American and Asian states signed in February 2016,” the Economist Intelligence Unit wrote in its assessment. “His militaristic tendencies towards the Middle East (and ban on all Muslim travel to the U.S.) would be a potent recruitment tool...

The United Nation’s top climate change official Christiana Figueres announced this week that the group is actively working to "intentionally transform" the world's economic development model, a task she called the "most difficult" one the group has ever undertaken. "This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history," UNFCCC Executive Secretary Figueres stated at a press conference in Brussels Tuesday. The "intentional" reordering of the global economy, she told reporters, "will not happen overnight" due to the "depth of the transformation":...

(CNSNews.com) – The highest debt-to-GDP levels in 200 years could force advanced Western nations to adopt “financial repression” measures typically reserved for economically unstable debtor nations, including mass write-offs and a tax on savings, warns a working paper published last week by the International Monetary Fund (IMF). According to “Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten,” a working paper written by two Harvard economists who used to work at the IMF, “there are essentially five ways to reduce large debt-to-GDP ratios: 1. Economic growth; 2. Fiscal adjustment- austerity; 3 .Explicit default or restructuring; 4. Inflation surprise;...

<p>For the first time in nearly 40 years, a majority of Americans believe the United States is less important around the world and that it should mind its own business, a stunning rejection of President Obama’s foreign policy just four years after he received the Nobel Prize.</p>

The recession in Europe risks hurting the world’s economic recovery, a leading international body warned Wednesday. In its half-yearly update, the Organization for Economic Cooperation and Development said that protracted economic weakness in Europe “could evolve into stagnation with negative implications for the global economy.” The OECD again slashed its forecast for the economy of the 17-country eurozone, saying it will shrink by 0.6 percent this year, after a 0.5 percent drop in 2012. The OECD had predicted a 0.1 percent decline for the eurozone in its report six months ago—and this time last year, it forecast growth of nearly...

On March 28, billionaire investor Jim Rogers appeared as a guest on the CNBC program, Squawk on the Street. During the four minute interview, Rogers was pointedly asked if what occurred in Cyprus was a one time deal, or if this is now a template for the future of Western economies and banks. Without hesitation, Rogers said that this is going to happen, and taking people's money from their bank accounts is a certainty as both the IMF and ECB have already condoned it in their precedent. CNBC Host Carl Quintinella: What's your appetite on Europe at these levels? Jim...

U.S. Defense Secretary Leon Panetta said on Thursday he would raise American concerns about the unintended consequences of any military action against Iran during his upcoming meeting with Defense Minister Ehud Barak, Reuters reported. Panetta and Barak are due to meet on Friday in Halifax, Canada. Speaking to reporters traveling with him to Canada, Panetta said the United States believed the most effective way to confront Iran still was to use diplomatic pressure and sanctions. “Obviously to go beyond that raises our concerns about the unintended consequences that could result,” Reuters quoted Panetta as having said. Echoing remarks he made...

ATHENS, Greece (AP) -- Angry and frustrated, Greek civil servants walked off the job Wednesday, paralyzing the government and public transport to protest ever-deeper austerity measures and seemingly ineffectual financial policies. As Greece struggles to avoid a catastrophic default, demonstrators in Athens expressed outrage over their misfortune and bewilderment at a crisis that shows no signs of easing. "Nobody knows what's going on. Every day they say something different. It's all so unclear," said Irini Sypsomou-Arapogianni, a 57-year-old Finance Ministry employee. "I don't know where all this will lead."

Don’t expect to see Russian President Vladimir Putin invited to the White House for a sleepover in the Lincoln Bedroom anytime soon. Vladimir Vladimirovich has committed the unpardonable diplomatic sin of speaking bluntly. Like Sherriff Woody from the Pixar movie “Toy Story,” Putin has declared “there’s a snake in my boot,” only in this case, it’s the U.S., which he labels a “parasite” on the global economy. Addressing a gathering of the pro-Kremlin youth group Nashi at their summer camp near Moscow Putin commented, "They are living beyond their means and shifting a part of the weight of their problems...

ROSEMONT, Ill. (AP) - Bedbug experts gathered in a Chicago suburb this week to talk about the pests that are running rampant in the Northeast. Athletic clothing and shoe maker Nike Inc. said Sunday it was temporarily closing its Niketown store in New York City after it became the latest victim of the bloodsucking pests. Reports of bedbugs have surged in recent years as they have become resistant to common pesticides.

NOTE The following text is a quote: www.whitehouse.gov/the-press-office/remarks-president-obama-and-president-medvedev-russia-us-russia-business-summit Home • Briefing Room • Speeches & Remarks The White House Office of the Press Secretary For Immediate Release June 24, 2010 Remarks by President Obama and President Medvedev of Russia at the U.S.-Russia Business Summit U.S. Chamber of Commerce, Washington, D.C. 3:08 P.M. EDT PRESIDENT OBAMA: Well, good afternoon, everybody. It is a pleasure to be here with my friend and partner, President Medvedev, and I want to thank him again for his leadership, especially his vision for an innovative Russia that’s modernizing its economy, including deeper economic ties between our...

Luis Marino, a Peruvian immigrant who ran as a Democrat, was among the victors Tuesday in the first local election since a federal judge ordered Port Chester to adopt a new voting system to give Latinos a better shot at electing one of their own to the six-member board. The electoral system itself made news, letting voters use six votes however they chose, including casting all six for one candidate. One Republican who won, Joseph D. Kenner, was the first black candidate elected to the board. “I think the results are clear — that

Forget Euro $1.30: Here's The New Crucial Level, And Here's When To Bet On A Turnaround Joe Weisenthal May. 6, 2010, 5:05 AM It was a pretty violent night in euroland, with the battered currency trading in the $1.27s before trading back above $1.28. The $1.30 "support" level that everyone was obsessed with a couple days ago is a fond memory. So what's next? $1.25? $1.20? Mike O'Rourke of BTIG explains what you should be looking out for: The (chart) below highlights the key 1.25 support level which coincides with the October-November 2008 and February-March 2009 bottoms the currency made...