ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 12 08:18

Certain OPEC Members Threaten Gains From November Production Cut

When OPEC agreed to cut oil production 4% back on November 30th they exempt Libya from cutting due to its internal conflict which has disrupted oil production in the region since 2011.

Jan 12 08:05

Bitcoin Collapses, Chinese Latecomers Get Fleeced

“Capital flight” takes on a bitterly ironic meaning.

Jan 12 05:39

FLASHBACK - Audit Reveals The Pentagon Doesn’t Know Where $6.5 Trillion Dollars Has Gone

A new Department of Defense Inspector General’s report, released last week, has left Americans stunned at the jaw-dropping lack of accountability and oversight. The glaring report revealed the Pentagon couldn’t account for $6.5 trillion dollars worth of Army general fund transactions and data, according to a report by the Fiscal Times.

Jan 12 04:57

Why Are Wal-Mart And Boeing Laying Off Workers If The U.S. Economy Is In Good Shape?

The stock market has been on quite a roll in recent weeks, but signs of trouble continue to plague the real economy. Earlier this week, I talked about the “retail apocalypse” that is sweeping America.

Jan 11 17:40

Low Oil Prices Could Last As OPEC Cuts Won’t Suffice

An OPEC production cut offers oil producers hope for higher prices in 2017. But there is a dark cloud hanging over that expectation.

Jan 11 17:29

The UK economy is doing pretty well but inflation is on the cards

Today is a day where we await a raft of UK economic data under what is called an improvement by the Office for National Statistics.

Jan 11 15:54

Bitcoin is getting demolished

Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday.

The fall comes after China announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports.

Jan 11 15:39

Seagate laying off 2,217 employees

Reuters reports Seagate is closing its Suzhou disk drive manufacturing plant in China, shedding a whopping 2,217 jobs.

The 1.1 million ft2 plant was formerly owned by Maxtor; Seagate having bought Maxtor for $1.9bn in May, 2006. Stifel MD Aaron Rakers puts the closure in the context of Seagate wanting to lower its quarterly cost base, given the overall decline in disk drive sales.

Jan 11 15:35

Pharma Stocks Crash Most Since Brexit After Trump Warns Drug Companies "Getting Away With Murder"

After six straight days higher and the best start to a year ever, Biotech/Pharma stocks were just crashed lower on the heels of comments from president-elect Trump promising more competitive drug pricing.

Jan 11 15:34

BOOM: DAYS AFTER FORD’S NEWS, FIAT CHRYSLER STUNS WITH AMERICAN JOBS ANNOUNCEMENT

President-elect Donald Trump is on a roll. Over the past month, he has negotiated deals with major U.S. companies, and jobs are starting flock back to America because of what companies think will happen under a Trump administration.

Jan 11 15:19

IRS To Delay Tax Refunds For Millions Of Working-Class & Poor Families

With tax season looming, more than 40 million low-income American families will not be getting their tax refunds as soon as expected.

In a bid to catch identity thieves and fraudsters, the Internal Revenue Service (IRS) is delaying refunds for anyone claiming the earned income tax credit (EITC) or the additional child tax credit (ACTC), which would disproportionately hurt working-class and poor families, many of whom claim both credits.

Jan 11 14:53

6 former VW execs indicted in emission cheating case

The U.S. government is indicting six former Volkswagen AG executives and charging the company with three criminal felony counts for what regulators called a “10-year conspiracy” to rig hundreds of thousands of diesel cars to cheat U.S. emission standards. Volkswagen is also being forced to pay $2.8 billion in criminal fines and $1.5 billion in civil penalties related to the fraud.

The U.S. Department of Justice said Wednesday that Heinz-Jakob Neusser, 56; Jens Hadler, 50; Richard Dorenkamp, 68; Bernd Gottweis, 69; Oliver Schmidt, 48; and Jürgen Peter, 59, all of Germany, have been indicted and charged with one count of conspiracy to defraud the United States by a federal grand jury in the Eastern District of Michigan. James Robert Liang, leader of diesel competence for VW from 2008 through June, pleaded guilty to a criminal charge in September for his role in the automaker’s diesel emissions scandal.

Jan 11 14:47

Get Ready for China’s Hot New Export Product: Inflation

Coming soon to a store near you.

Jan 11 14:18

Data Continues To Roll In And The Economy Deteriorates At A Faster Pace

Job openings and the pace of hiring has now tapered off. Walmart will be cutting hundreds of jobs.

Jan 11 13:15

Circle Of Poison: US Exports Banned Pesticides To Developing World

U.S. pesticide companies including Monsanto and Du Pont are exposed in a new documentary exporting pesticides banned in the United States to the developing world, sending the dangerous message that American lives are more valuable that those in less affluent countries.

Jan 11 13:15

What’s Going on with the Banks? Citi Cuts Goldman to “Sell,” after Goldman Cut Citi to “Neutral”

But bank stocks have skyrocketed over the past three months.

Jan 11 12:57

Regulators Criticize Banks over Loans to Uber

It is a well-known fact that Uber is facing multi-million dollar debts despite the widespread of its business to multiple countries. Reuters just reported that regulators aren’t, actually, happy that several banks handed the substantial amount of money to this company.

Jan 11 12:40

The Cost of Being an American Tourist

Good news for globe-trotting Americans: most countries around the world are free or very cheap to get in to. But, as this map shows, some countries do charge through the nose for a visa. And it's not the ones you would expect.

Jan 11 12:13

Protests In Mexico Push Country To Brink Of Revolution And Nobody's Talking About It

Long-simmering social tensions in Mexico are threatening to boil over as failing neoliberal reforms to the country’s formerly nationalized gas sector are compounded by open corruption, stagnant standards of living, and rampant inflation.

The U.S. media has remained mostly mute on the situation in Mexico, even as the unfolding civil unrest has closed the U.S.-Mexico border in San Diego, California, several times in the past week. Ongoing “gasolinazo” protests in Mexico over a 20 percent rise is gas prices have led to over 400 arrests, 250 looted stores, and six deaths. Roads are being blockaded, borders closed, and government buildings are being sacked. Protests have remained relatively peaceful overall, except for several isolated violent acts, which activists have blamed on government infiltrators.

Jan 11 11:19

Africa’s Child Cocoa Slaves Might Get to Sue Nestlé in U.S. Court

Child Slavery Claims Against Nestle, Cargill Get One More Chance

Jan 11 11:14

Gold Prices Are Being Hacked

Jan 11 10:44

Bitcoin plunges on Beijing plan to bring cryptocurrency exchanges to heel

The price of the bitcoin digital currency plummeted more than eleven percent on Wednesday after China's central bank announced plans to investigate cryptocurrency exchanges over fears of capital flight...

Jan 11 10:39

U.S. Recession in 2017: 69% of Americans Have $1,000 or Less in Bank

The U.S. economy is performing poorly. Truth be told, a recession seems a very likely scenario in 2017 for the U.S. economy, instead of robust growth.

Jan 11 10:24

Video: Currency Reset In India Causes Panic And Chaos With Massive Hit On Black Market

In a stunning move that shocked many people In India, the government decided without warning to make all 500 and 1000 rupee valueless.

Jan 11 10:03

Pew: Middle Class Shrank During Obama’s Eight-year Tenure

The nation’s middle class continued to shrink throughout President Barack Obama’s tenure, according to a new report from the Pew Research Center.

Jan 11 10:00

The Path to $10,000 Bitcoin

So let’s imagine a scenario in which tens of trillions of at-risk wealth suddenly seek an alternative–any alternative to staying in an asset class that’s circling the drain.

Jan 11 08:35

Why This Friday Is D-Day For The Stock Market

Jan 11 08:12

Black horse blacks out: Lloyds Bank website goes down

An unspecified glitch at Lloyds Bank Group prevented customers from logging into their accounts via a browser or app this morning.

Services were unavailable for several hours during the outage, though the company kept mum on Twitter about the causes.

“We are aware that some customers may have experienced issues logging on to Internet Banking this morning across all Lloyds Banking Group brand. This service is now working normally and we apologise for any inconvenience caused,” a mouthpiece at the firm told us.

El Reg asked about the cause of the downtime but the Lloyds rep candidly said that she “wouldn’t be able to provide [the reason for the outage], even if we had one”.

Jan 11 07:59

Rick Rule-US Will Devalue Debt and Devalue Dollar

Webmaster's Commentary: 

Short version; the US Government will simply inflate the debt away. Hang onto your silver and gold!

Jan 11 05:25

Trump’s Approval Rating Is Supposedly Only 37 Percent, But Small Business Optimism Just Hit The Highest Level In 12 Years

A Quinnipiac University Poll that was released on Tuesday says that Donald Trump only has an approval rating of 37 percent. Meanwhile, that same survey found that Barack Obama currently has an approval rating of 55 percent.

Jan 10 16:55

Ron Paul Interview: Trump vs Fed, Gold/Silver

Jan 10 15:59

Career Alternatives for Attorneys: Stripper?From the Bar to the Pole

When Carla graduated 10 years ago, she thought her law degree would be a permanent ticket to a high-paying job. But instead of selling her mind, Carla is selling her body. After student loans, debt, a layoff and unemployment battered her bank account, she now finds herself in an almost unbelievable position – dancing in a topless bar.

“Did I ever think I’d be taking my top off for rent money? No. I was in my mid-30s and had never danced before.”

Jan 10 15:13

CEO says rival Amgen not putting patients first in patent dispute

"If they really cared about patients they wouldn't rip this drug from patients,"

Jan 10 14:04

Exclusive: Regulators criticize banks over Uber loan - sources

so-called "ring-fencing" of certain markets makes companies appear a safer bet because it strips out the parts of their business that are loss-making.

Jan 10 13:48

Americans Fear Personal Financial Disaster: “Economy Is Going to Implode”

As business enters into 2017 and the Trump Administration with high hopes for a new boom, individual households remain less than optimistic about their own financial future.

Ah, 2017… While the new year marks a fresh start for many, millennials aren’t so optimistic. In fact, this generation is the only one to say they’re feeling worse, financially, about 2017 than 2016.

Read more at SHTF

Jan 10 13:40

How Bond Investors Were Fooled Twice

Most investors extrapolate financial trends into the future. So, they are usually unprepared when the trend changes. Making matters worse, they also usually miss significant countertrend moves. Let's take a look at the bond market.

Jan 10 12:21

Future of NAFTA under Trump? Globalists Ensure Economic Integration Mechanisms Remain in Place

globalists have quietly laid the foundation to ensure their continental agenda continues.

Jan 10 09:52

2017 BIG MOVES IN BITCOIN - 40% Move Higher Over 1 Month & 30% Drop Over 2 Days

The price of Bitcoin could hit more than $2,000 in 2017 driven by expectations that U.S. President-elect Donald Trump may introduce economic stimulus policies, which could send inflation soaring and propel the dollar to record highs, a report from Saxo Bank claims.

Jan 10 09:26

Starving to death on NHS wards?

A shocking claim, based on figures from the Office of National Statistics.

The data for England and Wales shows that in 2015, hunger and/or dehydration were a factor in 828 patient deaths in hospitals and care homes.

Jan 10 09:25

Liberal MP Hehr “proud” to pay more for gas

Sheila Gunn Reid reports: With record high unemployment in Alberta, Calgary’s Liberal MP Kent Hehr showed how out of touch he was by boasting how good it felt to pay more for gas after Notley's carbon tax hit Albertans.

Jan 10 08:53

Blockchain for Mortgages: Compelling, But Premature?

If there's an industry that cries out for the efficiencies and data integrity that blockchain tech promises, it's undoubtedly the US residential mortgage business...

Jan 10 08:48

Globalist Leaders Ensure North American Integration Mechanisms Remain In Place

By Dana Gabriel

As Donald Trump prepares to become U.S. president on Jan. 20, the future of NAFTA is in doubt. He has promised to either renegotiate or withdraw from the trade agreement. Despite the outcome of the 2016 presidential election, there are still many different existing North American integration mechanisms that remain in place. Over the last year, the globalists have quietly laid the foundation to ensure their continental agenda continues. They are positioning themselves so they can try to better influence the new Trump administration in advancing deeper economic, political and security integration in North America...

Jan 10 08:31

What Happened To The Law School Class Of 2010?

Poor employment outcomes have plagued law school graduates for several years. Legal scholars have debated whether these outcomes stem from macroeconomic cycles or from fundamental changes in the market for legal services. This Article examines that question empirically, using a database of employment outcomes for more than 1,200 lawyers who received their JDs in 2010. The analysis offers strong evidence of structural shifts in the legal market. Job outcomes have improved only marginally for the Class of 2010, those outcomes contrast sharply with results for earlier classes, and law firm jobs have dropped markedly.

Webmaster's Commentary: 

Some Work in Pest Control, Lingerie Sales. In one famous case, a working lawyer quit her job when she realized she could make more money as a stripper.

Jan 10 08:16

49% of businesses fell victim to cyber ransom attacks in 2016

Ransom is the top motivation behind cyber attacks, according to a report from Radware, and IT professionals are most concerned about data loss.

Webmaster's Commentary: 

Cybercrime has become a major problem and a threat to the economy and still the US Government does nothing, which raises the possibility that, like police and civil forfeiture, cybercime is a government system to plunder the people.

Jan 10 08:02

Globalist Leaders Ensure North American Integration Mechanisms Remain in Place

As Donald Trump prepares to become U.S. president on Jan. 20, the future of NAFTA is in doubt. He has promised to either renegotiate or withdraw from the trade agreement. Despite the outcome of the 2016 presidential election, there are still many different existing North American integration mechanisms that remain in place. Over the last year, the globalists have quietly laid the foundation to ensure their continental agenda continues. They are positioning themselves so they can try to better influence the new Trump administration in advancing deeper economic, political and security integration in North America.

Jan 09 18:17

Italy Unemployment Unexpectedly Deteriorates To Highest Since June 2015; Youth Unemployment Jumps To 39.4%

While the rest of Europe's troubled periphery has been enjoying a slow, if steady, economic improvement in recent years, in an unexpected deterioration reported this morning by Istat, Italy’s unemployment rate rose to the highest level since June 2015, as the country struggles to regain a solid economic footing.

Jan 09 18:16

Mexico Spent $4 Billion To Defend The Peso Last Week...And This Is What They Got

Mexico's central bank spent over $4 billion last week in an effort to support the collapsing peso during U.S., Mexico and Asian trading, according to El Economista... So far that $4 billion has not stemmed the tide of selling with the peso still down 3% on the week.

Jan 09 17:55

Commodities Bust Crushes Incomes, House Prices, & Rents in Western Australia

“Ponzi finance schemes are struck firmly in reverse gear.”

Jan 09 17:03

Media Lies For GM in Fact Check To Attack Donald Trump

Once again fact-checkers lie to support a narrative when it suits their agenda claiming Donald Trump’s tweet about the GM Chevy Cruz is false.

Jan 09 16:43

Doc Vega's blog post --- Waiting For the Obama White House to Go Away!

The Final Days of a Failed Presidency

Jan 09 16:12

UK Taxpayers To Foot £24bn Bill For Oil Field Closures In North Sea

British taxpayers might be forced to burden a £24 billion bill if the UK government decides to decommission its oil and gas fields in the North Sea, according to a new report.

The new estimate, put forth by the energy research group Wood Mackenzie on Sunday, exceeds the UK Treasury Department’s £16 billion forecast by 50 percent, according to the Financial Times.

Jan 09 15:34

Here’s a unique sign of inflation

Jan 09 14:19

Service Jobs Drive December Growth, Wages And Unemployment Up

The final jobs report of the Obama era showed the 75th straight month of job growth, but fell short of expectations. Both wages and unemployment inched up, while a record number of Americans were out of the labor force altogether.

Some 156,000 new jobs were created in December, according to the report published by the Bureau of Labor Statistics (BLS) on Friday. Businesses accounted for 144,000 jobs, mostly in healthcare. Federal, state and local governments added 12,000 jobs.

Jan 09 13:53

JERKS: GOP Whines That They Want to Repeal Obamacare, But They Don’t Want to Stop Taxing Us for It

For what, at least six straight years now, the Republicans have been pissing and moaning about how much Obamacare sucks.

Buuuuuuuuut… now that the GOP finally has a chance to do something about Obamacare….

They are hesitant.

Republicans eager to scrap the 2010 health-care law are wrestling with whether to immediately cut off the tax revenue it brings in.

Read more at TheDailySheeple

Jan 09 12:52

Foreign Investors See Ruble as 'One of the Best Bets' in 2017

The Russian national currency has been strongly performing since the beginning of the year. During the first 10 days of January, the US dollar dropped below 60 rubles/$1. Thus, the ruble reached a record high for the past two years. Experts predict that in the coming months the Russian currency may strengthen to 55-57 rubles/$1.

Webmaster's Commentary: 

And THAT is the real reason the US wants to start a war with Russia!

Jan 09 12:20

New Year Opens with Wave of Layoffs in the US

In the latest blow to retailers, hundreds of women’s clothing stores, operated by Ohio-based chain The Limited, shut their doors over the weekend at shopping malls across the United States. The company, which has 235 stores nationwide and 4,000 employees, quietly began layoffs in December before shuttering its stores on Sunday.

Last week, Macy’s announced it was closing 68 stores and cutting more than 10,000 jobs. Sears also said it will shut down another 150 Sears and Kmart stores, after poor holiday sales. Kohls and JC Penney previously carried out mass layoffs.

Retailers have been hit by a series of factors, including the stagnation of real wages of large numbers of consumers and the growth of online shopping giants like Amazon.

Jan 09 12:08

Obama Hands Trump Huge Bubble

Jan 09 12:08

THE ECONOMY IS A SINKING SHIP | David Morgan

Jan 09 11:25

JACK MA CHATS WITH TRUMP ABOUT CREATING 1 MILLION US JOBS OVER 5 YEARS

Webmaster addition: Not to rain (or snow) on Trump's Inauguration, but a million jobs is a drop in the bucket when you recall that there are 95 million Americans unable to find a job!

Jan 09 10:39

The Risk of Contagion of a full-blown Mexican crisis is far greater today than it was during the Tequila Crisis 22 years ago.

Things are rapidly going from bad to worse in Mexico.

Jan 09 10:17

Evictions by Wall-Street Mega-Landlords Soar, Financialization of Rents Cause “Housing Instability”: Atlanta Fed

It blames the Fed & Bernanke; the dark side of “healing” the housing market.

Jan 09 09:46

Obama Gets Trumped - Watch Trump Make Obama Look Clueless

How will President-elect Donald Trump negotiate with companies to save American jobs?

President-elect Donald Trump's Magic Wand explained.

Jan 09 07:47

First Finland Now India Trying Universal Basic Income

1. create a problem by banning cash 2. propose a solution of universal income so everyone now depends on government 3. tell everyone government saved the day this is basically another form of welfare. I'm going to buy more silver

Jan 09 07:44

Politician Flips Out – EXPOSES CENTRAL BANK SCAM

Jan 09 07:09

Union Servitude Ends In Kentucky: State Kills Prevailing Wages, Passes Right-To-Work

Organized labor suffered its first major legislative setback due to the 2016 elections on Saturday, when Kentucky Republicans gave final approval to right-to-work legislation and repealed the state’s prevailing wage law. Both bills are expected to be signed into law by the governor, and will take effect immediately.

Jan 09 05:27

It’s A Retail Apocalypse: Sears, Macy’s And The Limited Are All Closing Stores

It has only been two weeks since Christmas, and already we are witnessing a stunning bloodbath of store closings. Macy’s shocked the retail industry by announcing that they will be closing about 100 stores.

Jan 08 17:24

CHINA POTENTIALLY THREATENS A NEAR TERM US TREASURY SHORT SQUEEZE!

Problems in China are looming on top of an already very tenuous and misunderstood situation in the US Financial Markets. Additionally, Federal Reserve Policy has made the situation even more combustible!

Jan 08 16:45

Pound Fell Against 56 World Currencies In 2016: Analysis

The pound sterling lost a fifth of its value against nine major currencies last year, Lloyds Private Banking says in an analysis.

According to research the agency did into 60 currencies, the biggest declines in sterling were against the Brazilian real with a 28.4 percent drop, the Russian rouble with a 28 percent fall, and the Icelandic krona with a 27.9 percent decrease.

Jan 08 16:04

iPhone 7: Sales decline sees Apple CEO Tim Cook pay cut

Apple has cut the pay of many of its top executives, including CEO Tim Cook, after the iPhone maker missed revenue estimates in its last financial quarter.

Cook has reportedly had his wages cut by around 15 per cent after Apple under-performed in the last few months.

However it's not all bad news for Cook, who still enjoyed a rather sizeable pay packet for the previous 12 months.

According to a regulatory filing made by Apple on Friday, he received a compensation package totalling $8.7 million for the period covering Apple's fiscal year ending September 24th.

But this amount was still a major fall from the previous year, where Cook got nearly $10.3 million.

Jan 08 15:32

Debt Surge Producing Fake Recovery

Jan 08 13:53

Soon-To-Be Catholic Saint Advocated Ditching Child Labor Laws

In his classic sermon on 'False Compassion,' Venerable Archbishop Fulton Sheen targets child labor laws, and derides society's apparent obsession with getting a college education: "We ought to perhaps reform our child labor laws. Young people are not allowed to work on account of the law!? They're old enough to work, they're old enough to commit crimes! They do not want to go to school. We assume in the United States that everybody must go to school... So that college today, instead of being an intellectual privilege it's becoming a sort of social neccesity. 'You have to go.' Some of them are not made for books! Let them learn crafts..."

Jan 08 12:59

Capitalism Is The Problem

Over the last century, capitalism has repeatedly revealed its worst tendencies: instability and inequality. Instances of instability include the Great Depression (1929-1941) and the Great Recession since 2008, plus eleven “downturns” in the US between those two global collapses. Each time, millions lost jobs, misery soared, poverty worsened and massive resources were wasted. Leaders promised that their “reforms” would prevent such instability from recurring. Those promises were not kept. Reforms did not work or did not endure. The system was, and remains, the problem.

Jan 08 11:55

The Manipulation Continues As The The Entire Economy Falls Apart

UK retail sales decline in December this biggest shopping month of the year. Restaurants, stores all showing declining sales and more and more retail businesses are closing.

Jan 08 11:20

Bill Holter: Global Economic System is Going to Resemble Caveman Times Soon (Video)

For years, the world’s most renowned economists have tried to warn people about the economic tsunami that is currently cresting, and which many refer to as the coming “Global Reset,” but despite all the detailed warnings, very few people have chosen to listen, and begin to prepare for that eventuality.

Men like Bill Holter, Jim Rogers, Jim Rickets, Dr. Jim Willie, Peter Schiff, Harvy Dent, and so many other masters in the field of economics have been sounding the alarm bell for as long as they’ve been able to, but when the crash comes, and entire generations of wealth get wiped out seemingly overnight, you can count on the masses asking one another, “Why didn’t anyone tell us this was coming?” It’s truly scary.

Jan 08 10:23

Debt or DJIA: Who Gets to 20* First?

I got to wondering about all of the NYSE traders on CNBC sporting their “Dow 20,000” hats. Hitting that level seems elusive, but they keep them at the ready.

Jan 08 09:22

Bill Holter - In 2017 Trump will be Presiding Over a Bankruptcy, It’s Going to Look Like Caveman Days

What will the end of 2017 look like? Financial writer Bill Holter says, “I don’t think it will even resemble what today looks like. I think you may see the financial system come down, and it may be by the end of the year that the system is coming back up or coming back on line.

Jan 08 07:36

2017 prediction: It’s time to get ahead of this ‘trillion-dollar tsunami’

2016 was a wild year, to say the least.

There was Brexit…Trump’s upset victory…and U.S. stocks soaring to record highs after treading water for nearly 15 months.

Jan 08 07:35

Russian Ideas About the Best Way to Run a Business Go Back Further Than You Think

It is worth noting that the governance of early U.S. corporations, of which over 20,000 existed by the Civil War of 1861-1865, was arguably better than corporations in the late 19th and early 20th centuries as they governed themselves like "republics" with "checks and balances" against fraud and against usurpation of power by managers or by large shareholders. The term "robber baron" became particularly associated with US corporate figures in the late 19th century and early 20th. Just after the Wall Street Crash of 1929, legal scholars focused on the changing role of the modern corporation in society. US economic expansion via emerging multinational corporations after World War II (1939-1945) saw the establishment of the managerial class and the consequent issues of having dominant control over business affairs without sufficient accountability or monitoring by their board of directors. In the first half of the 1990s, the issue of corporate governance in the U.S.

Jan 08 07:13

Bill Bonner: Trump can’t beat THIS trade deal

People can believe whatever they want.

But sooner or later, real life intervenes. We just like to see the looks on their faces when it does.

By that measure, 2017 may be our best year ever. Rarely have so many people believed so many impossible things.

Jan 08 06:58

Rickards: The Fed’s playbook for 2017

Fed forecasting is surprisingly easy despite the sturm und drang of the talking heads. It’s a matter of considering what we know, and what we don’t know, and observing the indications and warnings that presage the unknown.

Jan 08 05:28

ECONOMIES: blame anything and anyone, but whatever you do, don’t blame reality

Politicians change the definition of bankruptcy, central bankers change the nature of economic growth, bourses hide the reality of economic dysfunction, and neocon media turn a trick to make you believe it. Meet new 2017 – same as the old 2016.

Jan 07 19:17

Economist Admits BoE’s Brexit Financial Collapse Warnings Were ‘A Misjudgement’

Economists failed to predict the 2008 financial crash and completely misjudged Brexit’s impact, the executive director of monetary analysis at the Bank of England (BoE) has admitted.

Jan 07 17:12

Why The U.S. Dollar And Bitcoin Keep Rising

I have covered the many reasons why the U.S. dollar (USD) has strengthened in dozens of posts over the past 5 years, (Could the U.S. Dollar Rise 50%?, January 12, 2011), and I described the positive dynamics of bitcoin last summer in An Everyman's Guide to Understanding Cryptocurrencies (June 13, 2016), back when bitcoin was under $600.

Jan 07 13:34

U.S. Housing Market Shows Eerie Similarities To Pre-"Mortgage Meltdown" Bubble Days

The convergence of the internet, faster computers and a rip-roaring bull market gave rise to the 1990s stock market day-trading phenomenon.

It was all about the hope of getting rich quick.

Jan 07 13:00

"THINGS WILL START FALLING APART IN 2017"

Jan 07 12:11

NJ Tops List of 10 States Americans Couldn’t Wait To Ditch In 2016

Here are the 10 states that people ditched the most in 2016. As a hint, people seem to prefer less taxes, regulation, cost-of-living, indebtedness and failing pension systems…

Jan 07 11:32

Layoffs, Store Closures, Recovering Economy? No, Collapsing Economy

Credit card debt is rising in the UK, more families are borrowing at a faster rate. Initial jobless claims hit a 43 year low.

Jan 07 11:20

Evictions by Wall-Street Mega-Landlords Soar, Financialization of Rents Cause “Housing Instability”: Atlanta Fed

The housing collapse during the Financial Crisis keeps on giving. On Friday, Invitation Homes, a creature of private-equity firm Blackstone, and largest landlord of single-family rental homes in the US, filed with the SEC to raise up to $1.5 billion in an IPO. Deutsche Bank, JP Morgan, BofA Merrill Lynch, Goldman Sachs, Wells Fargo, Credit Suisse, Morgan Stanley, and RBC Capital Markets are the joint bookrunners and get to cash in on the fees.

Jan 07 11:14

Evictions by Wall-Street Mega-Landlords Soar, Financialization of Rents Cause “Housing Instability”: Atlanta Fed

The housing collapse during the Financial Crisis keeps on giving. On Friday, Invitation Homes, a creature of private-equity firm Blackstone, and largest landlord of single-family rental homes in the US, filed with the SEC to raise up to $1.5 billion in an IPO. Deutsche Bank, JP Morgan, BofA Merrill Lynch, Goldman Sachs, Wells Fargo, Credit Suisse, Morgan Stanley, and RBC Capital Markets are the joint bookrunners and get to cash in on the fees.

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