Middle Class Dismissed

Why McDonald’s Killed the Dollar Menu—in 1 Chart

"The sad news that McDonald's is ending its Dollar Menu after eleven years reflects a simple truth: You can't make any money selling burgers for $1, any more. The fact that the Dollar Menu has lasted this long might make you think fast-food prices have lagged behind other items, in real terms. But the price of beef and other staples has been turbulent. With some help from the inflation pros at BLS, I graphed this chart of 'fast food' inflation (technically 'limited service meals and snacks') versus all food for home consumption and core inflation minus housing, which is different from the more commonly used core inflation, but subtracts housing's recent boom." Continue reading →

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Spain’s jobless now relying on pensioners to survive

"After a career spent repairing trains, Francisco Marcos Gallego once thought he and his wife would end their days in comfort. Instead they are struggling to support their unemployed son and his children. The couple must use their combined monthly pension of 1,300 euros ($1,760) to help feed their son Miguel, 49, who has been out of full time work since 2009, and the teenaged children who still live with him. Still suffering the effects of the economic slump triggered by the collapse of a property boom in 2008, more and more Spanish families are relying on their retired parents to survive as their unemployment checks run out and mortgage bills pile up." Continue reading →

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Marc Faber: Bond Burglars to Bring Bears Out of Hibernation

"The probability that we have embarked on permanent asset purchases by the Fed is very high (until QE99 — or at least until the system breaks down, as just outlined). To Mr. Bernanke’s credit, and to be fair to him, I need to point out that his economic sophism is shared by most central bankers around the world. We can see that the global monetary base has exploded more than fourfold since 2003. These universally common monetary policies are, of course, applauded by fund managers, bankers and the investment community, all of which benefit (including myself) from rising asset prices." Continue reading →

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International Wire Fees going up from the new remittance transfer rule

"On October 28th, 2013 international wire fees are going up. This is due to the remittance transfer rule amendment to Regulation E from the Dodd-Frank Act. Ironically, as a ‘consumer protection’ amendment, these new stipulations are suppose to help protect and disclose more information to those that are sending money abroad. The issue is that it really does the opposite of that–it simply makes international wires more expensive at the cost of those who can afford it the least. JP Morgan Chase has announced that they will no longer be offer outbound international wire services in response to this new regulation." Continue reading →

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Overtaxed and over there

"'FATCA is strangling us economically,' says Genevieve Besser, an American who has lived in Germany for 25 years. Last year her youngest daughter, a dual citizen, had her local brokerage account closed by Deutsche Bank because her mother had signing authority over it. Americans are even being forced out of products that are not subject to FATCA reporting: some have been forced to pay off mortgage balances with Swiss banks, for instance. American banks and brokerages are growing frostier too. Some are closing the accounts of citizens who no longer have an American address because of FATCA." Continue reading →

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The Biggest Scam In The History Of Mankind (Debt Ceiling Truth)

"You are about to learn one of the biggest secrets in the history of the world...it's a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn't quite right with the world economy, but few know what it is. Gone are the days where a family can survive on just one paycheck...every day it seems that things are more and more out of control, yet only one in a million understand why. You are about to discover the system that is ultimately responsible for most of the inequality in our world today. The powers that be DO NOT want you to know about this, as this system is what has kept them at the top of the financial food-chain." Continue reading →

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Why Have So Many Americans Considered Expatriation?

"According to Rasmussen Reports, fully 9% of the U.S. population has considered 'expatriation.' A record number of Americans 'officially' expatriated in the second quarter of 2013—and the real number is probably much higher. The mainstream media says that U.S. citizens give up their citizenship only to avoid paying tax. The fact is, more than 7 million Americans now live abroad. Many of them can no longer hold bank accounts, qualify for a mortgage, or set up a tax-deferred account for retirement or their children's education. They don't leave solely because of taxes—they give up their native son and daughter status because they pretty much have to just to function outside this country." Continue reading →

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Catherine Austin Fitts: Moral Investing and the Coming Equity ‘Crash-Up’

"Take a look at different predictions that gold is going to increase significantly in value. All those predictions assume that the monetary inflation is going to spill into commodities. And what you're watching instead is the G-7 have been essentially building a corral that forces the horses to run out through the stock market. That's why I call it a crash-up. I think one scenario we're looking at is the possibility of a crash-up scenario where that monetary increase is funneled into the equity markets. One of the most important questions there is, can you get the global population interested in investing in equities? Because the long bond market bull is coming to a close." Continue reading →

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