ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 14 06:49

The END of cash? Visa declares war on coins & notes by ‘bribing’ businesses

THE CREDIT card behemoth Visa has declared war on cash by “bribing” businesses to ditch coins and notes.

Visa announced a program in the US to award small and medium–sized businesses up to $10,000 (£7,727) if they completely ditch cash in favour of credit and debit payments, with a suggestion that a similar scheme could be implemented in the UK.

Jack Forestell, head of global merchant solutions for Visa, said: “With 70 per cent of the world, or more than 5 billion people, connected via mobile device by 20201, we have an incredible opportunity to educate merchants and consumers alike on the effectiveness of going cashless.”

Jul 14 06:46

Mark Zuckerburg finally found out why Trump won; hint: it wasn’t Russia

Mark Zuckerberg, the 30-something billionaire founder of Facebook, hasn’t lived a ‘normal’ life…at least not at any point in the recent past. He grew up in a suburb of New York City and now hobnobs with the elites of Silicon Valley, at least when he’s not enjoying that massive chunk of Kauai that he recently purchased for his own private use.

Jul 14 06:25

LET THE BATTLE BEGIN: MAJOR MERGER CONFIRMED

QVC and Home Shopping Network are merging to form a retail giant that will battle for the future of retail online, experts say. Liberty Interactive, which already owns QVC and as well as 38 percent of HSN, is planning to buy the rest of HSN for $2.6 billion to create a retail behemoth that would be the third-largest retailer in the U.S. behind just Amazon and Walmart.

Jul 14 06:24

We Do These Things Because They're Easy: Our All-Consuming Dependence on Debt

A world in which "we do these things because they're easy" has one end-state: collapse.

Jul 13 18:45

FOREIGN AID FURY: Civil servants get £800k in bonuses 'as cash spent on GYMS in Africa'

WHITEHALL mandarins were handed almost £800,000 in bonuses for dolling out £13 billion of taxpayers’ money in “overseas aid”.

According to new figures 21 of the top civil servants in the Department for International Development (Dfid) were given up to £10,000 totalling £175,000.

Meanwhile another £616,000 was divided between 514 more junior members of staff.

The shocking pay awards come despite a series of damaging revelations rocking the controversial government department whose sole purpose is to hand out British money abroad.

Jul 13 15:40

Don't panic, but your Bitcoins may just vanish into the ether next month

The community-driven organization overseeing Bitcoin on Wednesday warned that any Bitcoins received after Monday, July 31, 2017 at GMT-0700 may vanish into thin air or be rejected as invalid.

Bitcoin.org said that at the end of the month, Bitcoin confirmation scores – a number that represents the difficulty of altering the associated transaction – may become unreliable for an unknown period.

"This means that any Bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment," the group said.

Jul 13 15:19

The Central Banks Have Triggered The Collapse, The Setup Is Complete

Mortgage applications plunge and so do refi apps, as interest rates rise it pushes more and more individuals out the housing market. More and more of the older generation needs to work because they do not have enough to survive on.

Jul 13 15:10

Number Of New York City Street Homeless Grew By Nearly 40 Percent In One Year

The number of homeless people living on the streets in New York City increased dramatically over the past year, according to figures supplied by the Department of Homeless Services. The annual count conducted by the agency on a single night in February 2017 showed 3,892 unsheltered people living “in the rough,” up nearly 40 percent from the 2,794 counted the previous February.

Jul 13 14:59

Official Lies From the US Government — Even more, says Paul Craig Roberts.

Last Friday’s employment report is just another lie from the government. The report says that the unemployment rate is 4.4% and that June employment increased by 222,000 jobs. A rosy picture. But as I have just demonstrated, there are no fundamentals to support it. It is just another US government lie like Saddam Hussein’s weapons of mass destruction, Assad’s use of chemical weapons against his own people, the Russian invasion of Ukraine, and so forth and so on. The rosy unemployment picture is totally contrived. The unemployment rate is 4.4% because discouraged workers who have not searched for a job in the past four weeks are not counted as unemployed.

Jul 13 13:56

Fed Chair Janet Yellen Warns Congress: US Debt Trajectory Is Unsustainable

During her tesimony this morning, Fed Chair Janet Yellen urged Congress to take into account the growth trajectory of the federal debt when making decisions about spending and taxation.

She said lawmakers need to work toward achieving “sustainability of this debt path over time,”

Jul 13 13:19

Is Wall Street Funding A Shale Failure?

Jul 13 12:38

US Economy Keeps Moving Into Summer Storm

Jul 13 10:49

The Pension Crisis – & – The Crash & Burn

Jul 13 08:47

Silver Price Forecast July 13, 2017, Technical Analysis

Silver markets chomped around quite a bit during the day Wednesday as we continued to meander below the $16 level . As the market looks like it is tightening up , I think alot of this is going to come down to what Janet Yellen says .
(*oh christ!) >>>

Jul 13 08:29

Nation "Too Broke" for Universal Healthcare to Spend $406 Billion More on F-35

There always another $27 billion or lying around, it seems, when Lockheed Martin needs more money for expensive weapons system

Jul 13 08:21

Venezuela’s Currency Is So Devalued that Cops Are Demanding Bribes in Colombian Pesos

The cataclysmic devaluation of the bolivar in Venezuela and the brutal repression in the South American country now go hand in hand; state security agencies are increasingly demanding bribes in relatively strong Colombian pesos to release unjustly detained protesters.

Jul 13 08:19

IMF Tells Governments How to Subvert Public Resistance Against Elimination of Cash

The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, starting with seemingly harmless measures, is part of that advice.

Jul 13 08:03

‘Unacceptable!’ EU plunged into bitter infighting over budget cuts as it faces Brexit toll

Furious euro MPs ripped into national capitals over plans to slash £1.5 billion from research and agriculture projects, saying they had betrayed promises on spending.

The EU is facing a cashflow crisis from 2019 when Britain, one of the bloc’s biggest net contributor, quits the club creating a £10 billion a year black hole at the heart of its finances.

Jul 13 08:02

How Merkel's Germany PROFITS from Greek debt misery with £1BILLION pocketed so far

As one of Athens' biggest creditors, the eurozone's largest economy has banked millions in interest on loans to the heavily indebted state over the last two years alone.

A loan from Kreditanstalt für Wiederaufbau (KfW), the state development bank, has raked in about £350million (€393m) from interest payments since 2010, according to the Süddeutsche Zeitung.

Politicians are now demanding the interest is paid back to Greece.

Jul 13 07:59

Shkreli Told Investors He Had Millions Under Management When His Fund Was Broke

The prosecution has continued to call witnesses and show evidence in the trial of Martin Shkreli, providing the jury with documents to prove that Shkreli mislead investors by telling them he was managing $100 million when his fund had a balance of negative 33 cents in its prime brokerage account.

Another witness and former Shkreli investor told the jury how [he] couldn’t tell if Shkreli’s flirts were genuine, or if the “Pharma Bro” really did have feelings for him.

According to the New York Daily News, Steven Richardson — a man who told Brooklyn federal jurors he’s had a domestic partner for 25 years — testified Tuesday he wondered if Shkreli’s quips about hookups and sex were just ploys to strike a rapport with the 63-year-old investor.

Jul 13 07:51

Recipe for Famine: Ukraine to face up to 50% food price hikes

On July 1st, the Ukrainian Cabinet of Ministers' Resolution No. 394 from June 7th went into effect, thereby ending state regulation of food prices.

Jul 13 07:39

PC sales still slumping, but more slowly than feared

Analyst firms IDC and Gartner have emitted their quarterly assessments of the personal computer market, with both recording further sales slowdowns but also suggesting things could be worse.

Gartner reckons the world consumed 61.1 million machines, down 4.3 per cent from the same quarter in 2016.

IDC says combined desktop, notebook and workstation shipments hit 60.5 million units in the second quarter of 2017, for a year-on-year decline of 3.3 per cent. That's rather better than the firm's previous prediction of a 3.9 per cent dip.

Jul 13 07:33

Is Wall Street Funding A Shale Failure?

The latest figures from the EIA show that despite some hiccups, the shale rebound is still on track. Last week, the sharp drawdown in inventories made headlines, but buried within the weekly figures was a bounce back in oil production, reigniting fears that the market will take much longer to balance.

Jul 13 07:29

After 40yr oil export ban, US looks to top global market – report

The US may transform into one of the world’s top oil exporters in only a few short years due to its production increase of shale oil, an energy consulting group says.

The consultancy PIRA energy group has released a new forecast relating to the current boom of US shale oil production. The group has estimated that by 2020, US crude exports will rise to 2.25 million barrels a day. This means the production would grow to four times the amount of what was produced last year. The recent uptick of crude production in the US looks to weaken the strength of OPEC exporting countries, according to CNN Money.

This boom would put the US almost on the same level as giant oil exporters such as Kuwait and the United Arab Emirates. Jenna Delaney, an analyst at PIRA, said that “in the years ahead, these developments position the US to potentially be one of the largest exporters of crude oil in the world,” CNN reported.

Jul 13 06:09

Our Financial Buffers Are Thinning

The fragility of our financial buffers will only be revealed when they fail in the next crisis.

Jul 13 05:27

US to Spend $406 Billion on F-35 Jet Program

The Most Expensive Weapons Program Is Getting More Costly

The cost of the F-35 jet program , already the most expensive weapons program ever is estimated to climb to US$406.5 billion , dispite Trump's assurances to fix "out of control" expenditures

>>>

Jul 13 05:13

Unwinding QE will be “More Disruptive than People Think”: JP Morgan CEO Dimon

“We act like we know exactly how it’s going to happen, and we don’t.”

Jul 12 17:56

Slower US F-35A purchases piles $27bn onto total fighter jet bill

The UK is buying 138 F-35s in total, the majority of which will be F-35Bs. Nobody can be sure about this, however, because the Ministry of Defence hasn’t ruled out an F-35A purchase as well. Early production F-35Bs cost around $122m each, according to Lockheed Martin’s own estimates. With F-35As coming in at $94.6m each, that price is now in the region of $101.2m per jet.

As we reported in May, the MoD has signed contracts to buy a total of 27 F-35Bs until the year 2023, which is when Lockheed Martin, maker of the F-35, appears to be going into full scale production. This appears to be a decision made in the hope of taking advantage of economies of scale once the design is frozen and mass production kicks in. With the US scaling back, however, and causing its own prices to rise, there is little doubt foreign customers will also be hit with price rises in turn – including the UK.

Jul 12 16:56

Is This The Generation That Is Going To Financially Destroy America?

Did you know that the federal government is going to spend more than 4 trillion dollars this year?  To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.

Jul 12 13:56

Bubbles, Bubbles, Toil And Trouble

Jul 12 12:11

Why bitcoin and other cryptocurrencies could plunge 75% -- and still be in a bull market

It’s been a tough stretch for bitcoin investors. After toppling the $3,000 level last month, bitcoin has shed more than $600. For crypto rival ethereum, it’s been even uglier. The sudden reversal in the market has sparked yet another wave of doom and gloom regarding the future of cryptocurrencies.

But while those late to the party have, indeed, been slammed the past couple of weeks, long-term crypto holders don’t have much to complain about.

According to buy-side analyst Chris Burniske, bitcoin BTCUSD, +2.84% and the rest of crypto market could plunge 75% from these levels and still be in a bull market. That’s because such a decline would only bring the total market down to $15 billion in aggregate value.

Jul 12 12:10

Congress Wants Union Pension Bailout, but Can't Afford Promises

Many workers have been promised far more in pensions than their employers — public or private — can afford to pay them. Puerto Rico, for example, will soon have to start tapping general revenues for some $750 million annually just to cover its pension IOUs.

Stateside, a similar day of reckoning fast approaches the United Mine Workers of America. Unfortunately, as the UMWA’s pension fund nears insolvency, some lawmakers want to bail it out.

That would set a dangerous precedent. Rewarding the irresponsible and reckless actions of UMWA officials and pension managers would encourage other plans to follow in their footsteps.

Jul 12 11:00

On Borrowed Time

There are a number of things you don’t want to hear a central banker say.

One of those things just popped out of Janet Yellen’s mouth – “I don’t believe we will see another financial crisis in our lifetime.” That has to be up there with Irving Fisher’s deathless observation from 17 October 1929 that "Stock prices have reached what looks like a permanently high plateau" or John Maynard Keynes’ comparably adept forecast from 1927 that "We will not have any more crashes in our time."

So far, so anecdotal. How about some data to back up the thesis that, as Thorstein Polleit puts it, the super bubble is in trouble ?

Jul 12 10:57

Russia Plans to Create a Joint Investment Forum with the Bank of China

Russian President Vladimir Putin held talks with visiting Chinese President Xi Jinping in the Kremlin on Tuesday during which the two leaders held wide-ranging talks on a host of issues including bilateral ties and international hotspots like Syria and North Korea.

“We invariably have economic matters at the top of our agenda, but they are not the only issues we address. We also coordinate our efforts on the international stage, in the area of security and in the fight against modern threats and challenges,” Putin said.

Putin also announced Russian plans to create a joint investment forum with the Bank of China at a joint press conference following talks with the Chinese President.

The Russian Direct Investment Fund and the China Development Bank (CDB) also agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion).

Jul 12 09:09

Meanwhile In Venezuela, The Real Mad Max Emerges

While Silicon Valley seems obsessed by 'blood boys', its another part of the world that appears to have gone full Mad Max. As the following clip shows a gang of bikers chase down and attack a truck (with molotov cocktails) to steal its sugar payload...

Jul 12 09:08

Connecticut Capital Hartford Downgraded To Junk By S&P

One week ago, Illinois passed its three year-overdue budget in hopes of avoiding a downgrade to junk status, however in an unexpected twist, Moody's said that it may still downgrade the near-insolvent state, regardless of the so-called budget "deal." In fact, a downgrade of Illinois may come at any moment, making it the first U.S. state whose bond ratings tip into junk, although as of yesterday, credit rating agencies said they were still reviewing the state's newly enacted budget and tax package. The most likely outcome is, unfortunately for Illinois, adverse: "I think Moody's has been pretty clear that they view the state's political dysfunction combined with continued unaddressed long-term liabilities, and unfavorable baseline revenue performance as casting some degree of skepticism on the state's ability to manage out of the very fragile financial situation they are in," said John Humphrey, co-head of credit research at Gurtin Municipal Bond Management.

Jul 12 09:08

Golden Years... Or Tears: More US Seniors Are Still Working Than At Any Time Since The '60s

Long walks on the beach, holding hands in a hottub overlooking the ocean, working on your golf game...in Hawaii, treating the kids and grandkids to treats and trips - we have all seen the commercials of how great 'retirement' can be (or could have been), if you just put a little more money into the stock market via your friendly local asset gatherer.

Jul 12 08:16

THE MEDIA SAYS THE US JUST LIBERATED MOSUL: HERE’S WHAT REALLY HAPPENED

“In June 2014, ISIS crossed the Syrian border into Iraq, effortlessly taking the strategic oil-rich cities of Mosul and Baiji and almost making it as far as Baghdad. Amid the terror group’s frightening victory, they uploaded images and footage of drive-by-shootings, large-scale death marches, and mass graves (following the mass executions of Iraqi soldiers).

“ISIS militants claimed massive quantities of American military equipment, including entire truckloads of humvees, helicopters, tanks, and artillery as their own. This was no secret to Washington, or even the world, as the militants photographed and recorded themselves and publicly flaunted their activity on social media.”

Was there a good reason the American military sat on its hands despite knowing full well that this was going on? As Anti-Media explained further:

Jul 12 08:11

CONNECTICUT CAPITAL HARTFORD DOWNGRADED TO JUNK BY S&P

And yet, while Illinois squirms in the agony of the unknown, another municipality that as recently as a month ago was rumored to be looking at a bankruptcy filing, the state capital of Connecticut, Hartford, no longer has to dread the unknown: on Tuesday afternoon, S&P pulled off the band-aid, and downgraded the city's bond rating by two notches to BB from BBB-, also known as junk, citing "growing liquidity pressures" and "weaker market access prospects", while keeping the city's General Obligation bonds on Creditwatch negative meaning more downgrades are likely imminent.

Jul 12 08:04

Investors Are Dumping Emerging Market Debt At A Record Pace

Having warned that Emerging Market debt risks had hit 10-year lows (despite soaring uncertainty) and EM equity risk had hit record lows (amid record inflows), it seems the lagged impact of the collapse in the China credit impulse is finally being recognized as the largest EM Debt ETF (from JPMorgan) just suffered its largest outflows in history...

Jul 12 08:04

The City of Seattle Approved an Income Tax, but Faces Court Battle

Seattle has done one thing effectively: drive out earners. Anyone making over $250,000 within city limits of Seattle is now subject to a new income tax, but the new law is likely to face a court battle over its unconstitutionality.

The cheers from the socialists as this blatant constitutional violation was on full display was possibly the most horrific part of the entire debacle. People are actually cheering and happy that the government is stealing money from those they don’t even know. It’s like humanity has never existed.

Jul 12 08:04

For Google, the Pixels Just Hit the Fan

Distinguished research psychologist Robert Epstein explains why Google was recently fined $2.7 billion for one of its search-engine manipulations. This is just the beginning, he says, of bad news for a company that tracks and manipulates people on a massive scale.

Jul 12 07:03

Cryptocurrencies Collapsed - Ethereum down 52%, Ripple down 57%, EON down 70% in eight days.

A “collapse” isn’t when something edges down 1% in value or even 10% or 20%; it’s when something plunges 50% in a short time.

Jul 11 17:30

Connecticut Just Banned Civil Forfeiture Without A Criminal Conviction

Connecticut Gov. Dannel Malloy signed HB 7146 on Monday, which curbs the state’s civil forfeiture laws. Not only did the bill earn endorsements from the Yankee Institute for the Public Policy and the state chapter of the ACLU, HB 7146 even passed both the House and the Senate without a single no vote.

Jul 11 15:48

John Rubino – Where Are We Heading?

Jul 11 15:35

Number Of New York City Street Homeless Grew By Nearly 40 Percent In One Year

The number of homeless people living on the streets in New York City increased dramatically over the past year, according to figures supplied by the Department of Homeless Services. The annual count conducted by the agency on a single night in February 2017 showed 3,892 unsheltered people living “in the rough,” up nearly 40 percent from the 2,794 counted the previous February.

Jul 11 15:26

How Retiring Baby Boomers Could Sink Stocks

In 2016, the first group of baby boomers turned 70 years old. Millions more will do the same over the next 15 years, and as a result, selling activity in their retirement portfolios could be a big problem for markets.

Jul 11 15:22

FLASHBACK - NANCY PELOSI SAYS LETTING PEOPLE KEEP MONEY THEY EARN IS STEALING

If you ever had any doubt that democrats consider your money theirs, Nancy Pelosi just erased that. According to her, if you are “allowed” to keep the money you earn, that’s really stealing from poor people who didn’t earn it. I know this is some dizzying liberal logic, but that’s how they like things. Their hope is to make things so confusing that you can’t tell how bullshit it all is.

Jul 11 15:19

Mutual-fund giant DUMPS Hundreds of Workers

Jul 11 15:07

Wind Power Disaster in Australia Leads to Impending Economic Crisis

With laws mandated by elected officials but not supported by the populace of Australia for the wind power program which has seen 15% rises in kwH pricing over the last 12 months, what happens when food prices rise 30-50% over the next 12 months?

Jul 11 13:36

Class Action Lawsuits Against Banks & Credit Card Companies Now Easier To Join

Banks and credit card issuers will no longer be allowed to use private arbitration clauses to prevent class action lawsuits, thanks to a new rule set forth by the CFPB. The new rules have been two years in the making.

Jul 11 12:58

Denver To Get Its First Tiny House Village For The Homeless

This month, fourteen Denver residents will be moving into their newly-built tiny homes as members of the Beloved Community Village. They will move into their new houses after approximately four years of hard work, from advocates for the homeless population of Denver. The Beloved Community Village consists of 11 tiny homes, with each two-person unit measuring just 8-foot-by-12-foot. Also on site is a community space, shared shower facilities, and shared restrooms.

Jul 11 12:38

The Modern US Dollar — 38 incredible facts.

Just Remember, Nothing Last Forever…

Jul 11 12:09

Advice firm promoting Ukrainian property fund goes bust

Cumulus Investment Management, a UK investment firm which has previously come under fire for advising clients to invest in a high-risk Ukrainian property scheme, has officially been dissolved.

Jul 11 11:59

‘Hidden Crisis’: Extent Of Homelessness In UK Countryside ‘Underestimated’

People are sleeping rough in parked cars and barns in the countryside because the stigma attached to homelessness in rural areas is “much stronger” than in cities, a new report says.

According to a study by the Institute for Public Policy Research (IPPR) think tank, the “hidden crisis” of homeless people in England’s countryside is being “underestimated” as people bed down away from the public eye in places like parked cars, barns, outhouses and tents.

Jul 11 11:54

Diminishing Birth Rates – Why Is the First Political Solution Race Replacement?

One of the greatest political oddities is that across European nations, the first and last solution to diminishing birth rates is to decide that the next generation of Europeans should be a completely different race. There is a certain shortsightedness in this idea that is not only morally questionable, but also economically stupid.

Jul 11 11:53

US Deploys Advanced Anti-Aircraft Missiles in Baltics for First Time

Lithuania’s Defense Ministry has made a surprise announcement today that the United States has deployed an unspecified number of Patriot missile batteries into Lithuania, nominally for a military drill that is ongoing for the next two weeks.

This marks the first time such advanced US anti-aircraft weapons have been deployed into one of the Baltic states, and the deployment is expected to last beyond the current exercise, with Lithuanian officials saying it proves the US military commitment to them.

Lithuanian officials have the impression the missiles would be there at least through Russia’s own military exercises in the region in September, which are expected to be held near the NATO border regions, and which Lithuanian officials have been hyping as a “threat.”

Webmaster's Commentary: 

WHAT Russian threat is there to Lithuania, or Poland, please?!?

In a word, non-existent.

However, what we are seeing is a string of NATO detachments, encircling Russia; toward what final end, perhaps, a NATO war against Russia?!?

Jul 11 11:47

Stay away from bitcoin and ethereum — they are complete garbage - MarketWatch

Cryptocurrencies, or cybercurrencies, which were in a massive financial mania until their sudden selloff that started last month, have two actual applications: online gambling and money laundering. Neither is the heart of a major business model. But that’s it.

And these, preposterously, are the fundamentals behind a mania that has driven these currencies up thirtyfold, so that today, in aggregate, the market for them is a staggering $82 billion.

None of the defenders’ other arguments stack up.

Online currencies are hardly a “store of value” when they can fall, say, about 30% in a week.

Jul 11 11:07

World Stocks Rally, Dollar Up To Two-Month High Against Yen

Stock markets rallied on Monday and the U.S. dollar hit a two-month high against the yen, as robust economic data from the United States and Germany left investors increasingly confident about the strength of the world economy.

Jul 11 10:38

Italy warns Germany and France fixated EU ‘ignore us at your peril’

Bruno Maçães, who was Portugal’s EU minister between July 2013 and November 2015 told the Express.co.uk that Italians were increasingly drawing the link between the country’s economic woes and its EU membership.

Mr Maçães said: ‘The big problem is that Italy has not grown since the start of the euro, its been basically stagnant for 16 or 17 years.

“This is not sustainable, and of course more and more people are making the connection and asking, publicly, whether the euro is to blame for Italian stagnation.

Jul 11 10:37

Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion

The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector.

Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 billion euros into Banca Monte dei Paschi di Siena (BMPS) in exchange for the lender undertaking a major restructuring overhaul.

Jul 11 10:18

Nevada marijuana supply running low, state of emergency declared, governor says

I never thought I would live to see the day a Governor declares an emergency over lack of weed. They must have elected one of the Freak Brothers as governor. I like this guy!

Nevada state officials declared a state of emergency after stores that sell recreational marijuana reported that their supply is running out just less than two weeks after the drug went on sale legally.

Gov. Brian Sandoval, R-Nev., issued the state of emergency on Friday, which will allow state officials to decide on new rules that could ease the shortage of marijuana, according to Fox 13 Now.

Jul 11 10:17

Currency Bubble = Dollar In Big Trouble

Jul 11 10:04

The Sad Death of American Towns through Globalisation – Or – Never Trust Walmart

When major employers come to a town, replace the local businesses, suck up the people they have made unemployed and then leave a few years later, there is very little hope of recovery. It is destroying towns and families. And what’s worse, it makes the victims complicit in their own demise.

Jul 11 10:04

Germany Pensions System Crisis

The German publication DWN has come out and warned that the German Pensions system is collapsing.

Jul 11 09:08

Stock Market Tsunami Siren Goes Off

It will be ignored until it’s too late.

Jul 11 09:04

NUMBER OF YOUNG MEN NOT WORKING HAS DOUBLED IN 15 YEARS

Young men are working less and playing video games more, according to a National Bureau of Economic Research study published Monday.
Men ages 21 to 30 years old worked 12 percent fewer hours in 2015 than they did in 2000, the economists found. Around 15 percent of young men worked zero weeks in 2015, a rate nearly double that of 2000.

Jul 11 08:49

Death Of The Middle Class: The Suburbs Have Absorbed Half Of America’s Poverty Growth

For decades suburbia was home to the highest concentration of wealth in America, and perhaps even the entire world. It was the seat of our nation’s thriving middle class and a beacon of economic mobility. The streets were clean and safe, the schools were highly regarded, and there were plenty of middle class jobs to be had.

But something has changed in suburbia. While offshoring and automation have destroyed millions of jobs across the country, the decimation of brick and mortar stores by online retailers has pounded the wealth base of suburbia. So much so, that there are more people living in poverty in suburbia than any other place in America.

Jul 11 08:45

Obamacare Death Spiral: At Least 2 Million Adults Ditch Coverage In 2017 Amid Soaring Premiums

As Democrats continue to defend an obviously failed Obamacare system, the effects of soaring rates and collapsing coverage options seem to be taking a toll on the number of people actually buying health insurance these days. According to the "Gallup-Sharecare Well-Being Index," the percentage of uninsured adults in the U.S. bottomed out at 10.9% in Q4 2016 but has since increased to 11.7% in just the first two quarters of 2017.

Jul 11 08:00

India Removes 220 Tons of Physical Gold

We recently reported how the people of India has swallowed a massive 1,473 tons of silver in the month of May 2017. Not only was this one of the largest months for Indian silver imports it was more ounces of silver than the U.S. Mint had sold Silver Eagles in the whole of 2015. 2015 set the new all time high for American Silver Eagle sales and it took the U.S. Mint all year to do what India did in one month! Impressive to say the least.

Now we learn that India also imported a massive volume of gold during the month of May 2017, more than double any other month in the last 12 months.

Jul 10 18:36

IMF wants Germans to retire later, save less & spend more

The International Monetary Fund has urged German authorities to raise the effective retirement age above 67, saying an aging population could work longer and hence save less and spend more.

Jul 10 16:41

Working Past 70: Americans Can’t Seem to Retire

More and more Americans are spending their golden years on the job.

And the trend looks likely to continue.

Jul 10 15:54

Craigslist Used in Deadly Ploy to Lure Victims in Ohio

More bodies may still be found, as the bogus advertisement, which was picked up by online job aggregators, drew more than 100 responses from Ohio and other states.

Continue reading the main story
In Ohio, hit hard by the recession, the abundance of eager applicants pulled in by the advertisement has surprised no one, stirring talk about the lengths that people will go these days to find employment. “People here are desperate for work,” said a clerk at a motel in Akron, whose employer did not want him to give his name.

The police have suggested robbery as a motive, but other theories have also circulated, including identity theft and, perhaps more chilling, simply a desire to kill. The perpetrators appeared to be looking for loners who would not be missed.

Jul 10 15:53

Think twice before answering that ad: 101 murders have been linked to Craigslist

Nine days ago, a disturbing missive appeared on the Craigslist page for Tulsa, Okla.

“I was wanting to thank Tulsa for letting me have my first kill,” the post begins. “It will not be my last thou (sic).”

The post has since disappeared from Craigslist, but not from the radars of concerned Oklahomans. A spokeswoman for the Tulsa Police Department said an investigation is ongoing. The homicide squad has found no open cases matching the murder described in the post, at least not within the past few months; they haven’t ruled out the possibility that the post is a prank or a hoax.

Jul 10 15:24

Sam's Club and Sears, warn of more layoffs

Jul 10 15:21

America's Royalty: The Welfare Kings And Queens. Try not to get angry...

"A quick look into the status of welfare benefits, the recipients, and those who abuse the system. It needs to be fixed."

Jul 10 15:19

Pricey jean manufacturers going bankrupt

Jul 10 15:05

These Days Young Men In America Are Working A Lot Less And Playing Video Games A Lot More

If you could stay home and play video games all day, would you do it?  According to a brand new report that was released by the National Bureau of Economic Research on Monday, American men from the ages of 21 to 30 are working a lot less these days. 

Jul 10 13:53

NEW BILL WOULD REQUIRE PEOPLE TO DISCLOSE CRYPTOCURRENCY HOLDINGS AT THE BORDER

A new bill introduced in late May in the United States Senate would require people entering or leaving the United States with $10,000 or more in cryptocurrency to declare their holdings to US Customs and Border Protection agents. The bill has been introduced in the 115th Congress as S.1241, and known as the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017. Currently this regulation is already applied to cash and money orders. The bill’s prime sponsor is Republican Senator Chuck Grassley of Iowa. The bill has some bipartisan support, co-sponsors of the bill include Democratic Senator Dianne Feinstein of California, Democratic Senator Sheldon Whitehouse of Rhode Island, and Republican John Cornyn of Texas.

Jul 10 13:52

WORLD’S 2ND LARGEST SILVER MINE SHUT DOWN: Implications For Company & Market

The world’s second largest primary silver mine, Tahoe Resources Escobal Mine, was forced to shut down operations in Guatemala by a ruling from the country’s Supreme Court. 

Jul 10 13:19

Ned Schmidt – End of the Tech Fantasy?

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