ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Oct 03 13:28

What Could Possibly Go Wrong With Tax Reform? The Answer, According To Goldman, Is “Plenty”

One of the reason why the torrid dollar rally of the past few weeks appears to have plateaued, at least for the time being, is that just like earlier in the year, doubts have emerged about the viability of the “new and improved” tax plan, which according to the Tax Policy Center would mostly benefit the “Top 1”, even as it eventually pushes taxes for the upper middle class progressively higher. One catalyst is a Bloomberg report overnight, in which Bob Corker was quoted as saying that the White House is showing “softness” on ending the $1.3 trillion federal tax deduction filers get for their state and local taxes, warning that it raises questions about the GOP’s “intestinal fortitude” and could imperil a tax overhaul.

Oct 03 11:43

Erdogan Says Turkey No Longer Needs EU Membership, Son Slams European "Infidels"

President Recep Tayyip Erdogan said on Sunday that Turkey no longer needs EU membership.

His son Bilal who plays an important role in Turkey’s politics went even further and described the Europeans as “gavur” (indifels).

The comments come after 12-year-long accession talks with Brussels grind to a halt.

“The EU failed us in a fight against terrorism,” Erdogan said on Sunday, though he also suggested the bloc still needed Turkey.

“If the EU is going to leap forward, there is only one way to do so. And it is to grant Turkey membership and start an action of cultural and economic growth,” Erdogan said.
German Chancellor Angela Merkel said in an election debate last month it was clear Turkey should not join the EU and entry talks should end, despite it being a crucial NATO ally.

Webmaster's Commentary: 

Well, Edrogan certainly made his position abundantly clear regarding the this screed against the EU!!

Oct 03 11:37

Escobar: The Future Of The EU Is At Stake In Catalonia

Nano-Franco is Spanish Prime Minister Mariano Rajoy, whose heroic shock troops were redeployed from a serious nationwide terrorist alert to hammer with batons and fire rubber bullets not against jihadis but … voters.

At least six schools became the terrain of what was correctly called The Battle of Barcelona.

Extreme right-wingers even held a demonstration inside Barcelona. Yet this was not shown on Spanish TV because it contradicted the official Madrid narrative.

Webmaster's Commentary: 

How Spain, and the rest of Europe define, and work with, the Catalonian referendum, in a peaceful, responsible, adult way, is definitely going to define the future of the EU itself.

Oct 03 11:08

The Vote Heard Round the World -- The Video

Oct 03 08:53

U.S. Shale Isn’t As Strong As It Appears

The report is another piece of evidence that suggests the U.S. shale industry is perhaps struggling a bit more than is commonly thought. U.S. shale has been portrayed as nimble, lean and quick to respond to oil price changes. And while that is largely true, strong profits remain elusive, despite the huge uptick in production.

Oct 03 08:38

The Globalists Are Systematically Destroying America's Middle Class

In America today, well over 100 million people receive money from the federal government each month, and the number of Americans that are truly financially independent is continually shrinking. In fact, only 25 percent of all Americans have more than $10,000 in savings right now according to one survey. If we eventually get to the point where virtually all of us are dependent on the government for our continued existence, that would give the globalists a very powerful tool of control. In the end, they want as many of us dependent on the government as possible, because those that are dependent on the government are a lot less likely to fight against their agenda.

Oct 03 08:26

$21 Trillion Went Missing From 2 US Agencies Since 1988.

Catherine Austin Fitts issued an updated report on Missing Money. She found a total of $21 trillion went missing from two federal agencies since 1988. That would be from HUD (Housing and Urban Development) and DOD (Department of Defense.) She was assisted by Dr Mark Skidmore and his graduate students who found these staggering sums went walkabout citing government sources. Dr Skidmore is also a co-editor of the Journal of Urban Affairs.

The government speak term for missing money is Undocumentable Adjustments.

In some years more money went missing from an agency than was budgeted for the year. How was that possible?

Oct 03 08:24

Mastermind Of $4 Billion Bitcoin Money Laundering Operation May Be Extradited To US

After being arrested over the summer in a sting that was orchestrated by US and European law-enforcement agencies, Russian-born Alexander Vinnick, the purported creator and operator of shadowy digital-currency exchange BTC-E, appeared in a Greek court late last week for the first of what could be several hearings to determine where he will ultimately stand trial, CoinDesk reported.

As we reported at the time of Vinnick’s arrest, the 38-year-old Russian man was wanted in the US on suspicion of masterminding a money laundering operation involving at least $4 billion in bitcoin transactions.

Oct 03 07:11

America:The Dictatress of The World

When the Constitution called the federal government into existence, the last thing the American people wanted was a powerful military. They were overwhelmingly opposed to what they called “standing armies,” which was a term used describe a big, permanent military establishment. That was why there was Pentagon, no big, permanent military-industrial complex, no CIA, and no NSA for more than 100 years after the country was established. The American people didn’t want those types of governmental apparatuses to be part of our nation’s political system.

The reason Americans were so opposed to standing armies is because they believed that standing armies constituted a grave threat to their freedom and economic well-being. They knew, from both first-hand experience and through history, that dictators and despots used powerful military establishments to destroy the freedom and prosperity of the citizenry, oftentimes in the name of keeping them safe, secure, and prosperous.

Oct 02 15:46

The $400 Trillion Global Retirement Gap

Oct 02 11:22

Paying Income Taxes on Crops Eaten by Locusts

The present federal tax code allows deductions for state income taxes. This is as it should be. Why? Because we should not have to pay taxes on what the locusts consume before we harvest the crop.

Oct 02 08:49

Monarch Airlines collapse: UK’s biggest peacetime repatriation under way

Civil Aviation Authority says it is taking action to get 110,000 people back to UK, with 300,000 future bookings cancelled

Oct 02 08:38

America’s Disappearing Workforce

Oct 02 08:06

Trump’s Tax Plan Is An Act Of Political Domination By The Rich

Why do so many people work 60-hour weeks for poverty wages while a few luxuriate in the fabulous returns of interest-bearing assets? Why are the citizens of Puerto Rico threatened by a deadly social collapse while the fruit of the island’s labor is shipped to Wall Street bondholders? The answer surely cannot be that some wealthy members of our society are exercising political power over the lives and incomes of others. We must consider growth, productivity, liquidity, gross domestic product and the debt-to-GDP ratio.

Oct 02 05:26

North Korea: UN Sanctions Causing Colossal Damages To Civilians

North Korea issued a statement on Friday through its state-run media outlet, citing the Sanctions Damage Investigation Committee’s spokesman warning that the UN-imposed sanctions are causing “colossal damages” to the civilian economy.

Since sanctions against North Korean military and nuclear programs were imposed many years ago, these new sanctions are largely just hitting any parts of the economy that weren’t totally cut off from the rest of the world.

North Korean officials say this isn’t having any effect on the nuclear program>>>

Oct 01 16:43

EU faces Brexit chaos as £20 TRILLION worth of finance contracts hang in the balance

Banks are gearing up for complex negotiations across the European Union over the uncertain future of about £20 trillion of crucial finance contracts.

Valuable derivatives traded between EU and UK banks will have no legal basis after Britain leaves the bloc – unless a deal can be reached.

Oct 01 14:18

STOCKMAN: Stocks heading for 40-70% plunge

Oct 01 11:10

Catalan Independence: 5 Things to Think About

Headlines and commentary across both Eastern and Western media have mainly focused on the Catalan independence referendum and the actions of Spanish police and the Spanish government's attempts to disrupt polls.

Oct 01 09:34

What Does the Sale of Venezuelan Oil in Currencies Other Than the US Dollar Mean?

The petrodollar is more important for US global domination than either arms exports or Hollywood culture, because it allows the US to be the biggest exporter of the dollar bills the rest of the world, which needs to be able to buy oil. Venezuela has decided to start de-dollarizing its economy. To understand what this means, it’s necessary to look at the geopolitical context in which the move takes place. After President Nicolas Maduro announced last Thursday that every business signing contracts with the Venezuelan State should do so in a foreign currency other than the US dollar, Vice President Tareck El Aissami sought to ensure the country’s productive sector gets the necessary mechanisms via public and private banks to be able to migrate to a new basket of foreign currencies.

Oct 01 08:48

The Chinese-Russian wide-body aircraft named CR929

There are three versions of the aircraft: CR929-500, CR929-600 and CR929-700. The CR929-600 has 280 seats and a range of 12,000 kilometers, which will be the baseline version, with the 230-seat CR929-500 being a shorter version and the 320-seat CR929-700 as a stretch.
With advanced aerodynamic design, composite materials and a new generation high bypass ratio turbofan engine, all the performance indicators of the wide-body aircraft will be largely improved, contributing to a lower direct operating cost than similar models.

Webmaster's Commentary: 

Boeing, already facing fierce competition from Euro Airbus, will not be happy about this!

Oct 01 08:07

Broad Breakout For The Market Of Stocks

Oct 01 07:58

Bannon and Kissinger To Partner Up on Advancing US Policy on China

Bloomberg reports that former top adviser to President Trump, Steve Bannon has been meeting with Henry Kissinger to discuss China.

Oct 01 07:26

Trump's Top Economic Adviser Thinks You Can Buy a New Car for $1,000

Gary Cohn, President Donald Trump’s chief economic adviser, said during a White House press conference that a “typical” family with two children making $100,000 a year. can expect a tax cut of $1,000, which would allow them to either renovate their kitchen or buy a new car.

Oct 01 06:54

Trump's Top Economic Adviser Thinks You Can Buy a New Car for $1,000

Gary Cohn, President Donald Trump’s chief economic adviser, said during a White House press conference that a “typical” family with two children making $100,000 a year. can expect a tax cut of $1,000, which would allow them to either renovate their kitchen or buy a new car. Some problems: According to the U.S. Census Bureau, the median household income was $59,039 in 2016. According to Kelly Blue Book, the average new car cost nearly $35,000 as of January 2017.

Oct 01 06:12

UK Prime Minister Ted Heath pedophile-raped at least one boy among 42 similar criminal complaints. US Presidents Bushes had ‘call boys,’ gay male prostitutes at White House. What, you thought lying rogue state ‘leader’ perversions were limited?

*hyperlinks/videos live at source*

hat tip: David Icke

The UK’s second-leading selling newspaper claims an official report to be released this week will confirm former Prime Minister Ted Heath was a pedophile-rapist suspect of at least one boy, with six other confirmed credible criminal complaints, and a total of 42 unconfirmed criminal complaints from families.

US Presidents Bushes at White House with call boys, gay male prostitutes

As I reported in 2015: 3-minute video from Invisible Empire with President Bush, Jr. kissing, fondling and embracing gay male prostitute, Jeff Gannon:

2-minute video: connecting both presidents Bush to Jeff Gannon:

10-minute 2005 Countdown segment on Jeff Gannon acting as a reporter to toss only softball questions:

President George Bush, Sr. used one crisis actor and two outrageous lies for his unlawful war on Iraq in 1990:

Sep 30 14:35

Sell The “FANG’s”

Sep 30 13:06

The Koyaanisqatsi Economy

Sep 30 09:46

Stock Indexes End Q3 at Record Highs

Sep 30 09:13

Debt-Slave Industry Frets over Impact of Mass Credit Freezes

Their doom-and-gloom scenario: Consumers suddenly becoming prudent. “Let’s face it, 143 million frauds won’t be perpetrated right away; it will take some time to filter through,” Steve Bowman, chief credit and risk officer at GM Financial, the auto-lending subsidiary of General Motors, told Reuters.

Sep 30 09:05

Catalans occupy voting stations to defy Madrid's order to stop referendum

Supporters of Catalan independence began occupying polling stations on Friday, setting up a possible confrontation with police who have been ordered to clear them out by Sunday morning to ensure a referendum cannot go ahead.

The central government, which has sent thousands of police reinforcements to stop people voting and has attempted to dismantle the infrastructure needed to conduct the referendum it says is illegal, insisted it would not go ahead.

Catalan leader Carles Puigdemont told Reuters in an interview, however: “Everything is prepared at the more than 2,000 voting points so they have ballot boxes and voting slips, and have everything people need to express their opinion.”

Webmaster's Commentary: 

To the government of Spain; as a country which is part of the UN, for which the tenent of peaceful self-determination is enshrined in its charter, do you have any possible clue as to how lousy the optics of these moves look to the rest of the world?!?!?

The intelligent, rational thing to do would be to develop a dialogue with a soon to be independent Catalonia, and create a workable economic partnership here.

Of course, that... would be both pragmatic and intelligent.

Sep 30 07:47

California Seeks Ban On Fossil Fuel Cars, Laying The Groundwork To Ban Humans From The Road

By Aaron Kesel

California known as the sunny state is eyeing a ban on sales of fossil-fuel cars in hopes of reducing carbon emissions as they seed the deeper agenda to eventually ban humans from driving as we switch to an autonomous lifestyle.

California Gov. Jerry Brown has reportedly “expressed an interest” in the restrictions, according to Bloomberg, which cited California Air Resources Board (CARB) chair, Mary Nichols.

California may become the first U.S. territory to take action, similar to China, France, and the UK—all of which plan to phase out gas- and diesel-car sales over the next three decades...

Sep 30 07:40

Tesco’s bosses in court over £250m fraud

Chris Bush, 51, John Scouler, 49, and Carl Rogberg, 50, allegedly failed to correct inaccurately recorded income figures which were published to auditors, other employees and the wider market.

The prosecutor said the case amounted to “false accounting” by the trio, who received bonuses of more than £5million.

Their actions sent “shockwaves” through the stock market.

Sep 30 05:58

Trump Supporters Are Donating Money to UC Riverside MAGA Hat Thief So that She Can Get An Apartment

This is interesting. Trump supporters have deluged the gofundme page of a woman who swiped the "Make America Great Again" hat off a conservative student's head. Macias has a gofundme asking for money for an apartment after, as she writes, "was forced to move to LA with my mom because I was evicted of my home by a racist white bitch. In LA finding a job has been hard for me..."

Sep 29 22:04

The Epic Saga of a Smart Meter Opt-Out

Sep 29 15:08

“I Thought I Was Middle-Class?”

When I saw that slimy tentacle of the Goldman Sachs vampire squid, Gary Cohn, bloviating about Trump’s tax plan and how it was going to do wonders for the middle class, I knew I was probably going to get screwed again. And after perusing the outline of their plan, it is certain I will be getting it up the ass once again from my beloved government. (“The best way to teach your kids about taxes is by eating 30% of their ice cream.” – Bill Murray)

Sep 29 14:22

Vietnam Shows How To Clean Up The Banking System: Ex-Banker Sentenced To Death For Fraud

The lack of prosecution of US bankers responsible for the great financial crisis has been a much debated topic over the years, leading to the coinage of such terms as "Too Big To Prosecute", the termination of at least one corrupt DOJ official, the revelation that Eric Holder is the most useless Attorney General in history, and of course billions in cash kickbacks between Wall Street and D.C. And, naturally, the lack of incentives that punish cheating and fraud, is one of the main reasons why such fraud will not only continue but get bigger until once again, the entire system crashes under the weight of accumulated theft, corruption and Fed-driven malinvestment. But what can be done? In this case, Vietnam may have just shown the way - sentence embezzling bankers to death. Because if one wants to promptly stop an end to all financial crime, few things motivate as efficiently as a firing squad.

Sep 29 14:13

Spain Says "Referendum Won't Happen", To Shut Barcelona Airspace After Catalan Separatists Unveil Ballot Boxes

The Spanish government reiterated its angry rhetoric this morning that the "Catalan referendum won't happen" with Íñigo Méndez de Vigo saying "organizers will be held responsible," after they unveiled the ballot boxes and discussed the 2,315 polling stations to be used.

In a sign that large crowds are again expected on the streets on Sunday, department store chain El Corte Ingles said it would shut three stores in central Barcelona. The central government said airspace above the city would be partly restricted.

Lines of tractors draped in the red-and-yellow striped Catalan flag left provincial towns on Friday, planning to converge on Barcelona in a sign of support for the referendum.

Webmaster's Commentary: 

Does Prime Minister Rajoy have a clue of what this is looking like to other UN nations, the charter of which embraces the principal of peaceful self-determination?!?

The optics are absolutely breathtakingly horrific; that he cannot or will not see them, may push Spain into yet another civil war.

Sep 29 14:03

Spanish Government Orders Google To Delete App Used For Catalan Independence Vote

Catalonia’s High Court on Friday ordered Google to delete an application that it said Catalan separatists were using to spread information about a disputed independence vote this Sunday, Reuters reported. The court also ordered Google to block any future applications developed by the gmail address “Onvotar1oct@gmail.com”, according to a written ruling.

The app, which was available on Google Play until just before 7 p.m. on Friday, helps people to find their polling station via their address and shows the closest polling stations on Google Maps via GPS, the name of the town or keywords. It also allows users to share links to polling station locations, according to The Spain Report.

Google told The Spain Report that: "we remove content from our platforms when we receive a court order or when it violates our terms and conditions". The app no longer appears to be available from Spain.

Webmaster's Commentary: 

Ever ready to please their governmental Masters, Google folds again, just as it did with censorship in China.

Sep 29 14:00

Vietnam Shows How To Clean Up The Banking System: Ex-Banker Sentenced To Death For Fraud

The lack of prosecution of US bankers responsible for the great financial crisis has been a much debated topic over the years, leading to the coinage of such terms as "Too Big To Prosecute", the termination of at least one corrupt DOJ official, the revelation that Eric Holder is the most useless Attorney General in history, and of course billions in cash kickbacks between Wall Street and D.C. And, naturally, the lack of incentives that punish cheating and fraud, is one of the main reasons why such fraud will not only continue but get bigger until once again, the entire system crashes under the weight of accumulated theft, corruption and Fed-driven malinvestment. But what can be done? In this case, Vietnam may have just shown the way - sentence embezzling bankers to death. Because if one wants to promptly stop an end to all financial crime, few things motivate as efficiently as a firing squad.

Sep 29 13:58

Even The Cheapest Obamacare Plans Are "Unaffordable" In 94% Of American Cities, New Study Finds

We've frequently warned that Obamacare is locked in an inescapable death spiral that will result in its inevitable failure. The problem is that the folks who make too much to qualify for subsidies (currently defined as roughly $80,000 for a family of 3) are increasingly being priced out of the market for individual insurance by Obamacare's 30%+ price hikes that consistently come year after year. Meanwhile, those "rich" families making $80,000 a year are the ones expected to overpay for their health insurance so that a portion of their premiums can be "spread around a little bit" (as Obama likes to say) to subsidize the premiums of others. Of course, it's easy to see the circularity here as higher premiums equals less "full-paying" customers and less subsidies equals higher premiums...until the whole system collapses.

Webmaster's Commentary: 

This is just completely insane, and until and unless Congress moves its collective derriere with regard to affordable, workable healthcare, more Americans will be priced out of the health care system in this country.

Sep 29 12:40

Lost in the tax reform debate

The biggest concern for politicians is whether the overhaul will result in a net loss of revenue for the government. This implies two things: 1) that the money belongs to the government; and 2) that the government could not function with less money. Neither of these is true. Years of study and observation tell me that not one person in a million understands the income tax. The income tax is probably the greatest deception and fraud in history, because it is the foundation of a private monetary system. The very few who do understand vomit every time they hear the word “democracy.”

Sep 29 10:49

The Pension Crisis Coming to a Boil

Sep 29 09:31

Florida's Orange Growers May Never Recover From Hurricane Irma

Hurricane Irma destroyed half of Florida’s citrus crop when it tore through the state earlier this month, as we reported earlier this month. The state’s orange growers at the time described the damage from the storm as the worst they’d seen in their lifetimes, as we reported at the time.

Many of the affected groves of oranges and grapefruits were approaching harvest, too – and their destruction helped send the price of orange concentrate futures rocketing higher.

Sep 29 09:21

Schauble Out as German FinMin Paves the Way for Lifting Russian Sanctions

The news hit the wire this morning that the first casualty of Sunday’s German elections is Finance Minister Wolfgang Schauble. Coalition talks between Chancellor Angela Merkel and both the Free Democrats (FDP) and the Greens led to this.

Merkel’s weak showing forced this change. Christian Lidner, head of the FDP, has been angling for the finance minister job during this entire election season. He has also, along with former SDP head and current Finance Minister Sigmar Gabriel, been an outspoken advocate of normalization of relations with Russia.

“We have to get out of the dead-end sitution,” Lindner told the Funke Mediengruppe newspaper chain. “To break a taboo, I fear that we must see the Crimea as a permanent provisional arrangement, at least for now.”

Sep 29 09:08

Small-Cap Breakout – Or Blowoff?

Sep 29 09:03

Official: Austrian Firms Eyeing Iran's Projects

A senior Austrian financial official underlined that his country's medium- and small-sized companies are ready to invest in Iran's development projects.

Sep 28 18:11

Spotify Is Worth $16 Billion And I’m Getting Scared

Spotify first launched on October 7, 2008. Since then, the company has yet to post a profit. Losses have also continued to increase. Net losses doubled in 2016 to $600 million.

Like SoundCloud, instead of focusing on building a sustainable business model, Spotify has spent the money it has yet to make. According to details shared with Digital Music News, Spotify has sunk massive amounts into its World Trade Center lease.

How much? The company has spent more than $566 million on a 17-year lease, with almost $31 million in upfront payments required. The contract works out to $33.29 million a year on base rent alone, or $2.77 million a month.

Spotify’s opulent spending has caused more than a few investors to become anxious. While a lot of hype surrounds the company’s IPO, some have compared the platform to Twitter and Snapchat. Both companies have disappointed investors following their public listings.

Sep 28 14:09

Global Bond Rout Accelerates Even As Dollar Rally Fizzles

In a continuation of trading patterns observed over the previous two days, on Thursday the global bond rout deepened in the aftermath of the release of President Trump’s tax-cut plan, Janet Yellen’s recent hawkish comments and renewed optimism over the health of the U.S. economy.

Sep 28 12:38

here's what Wall Street is saying about Trump's tax plan

All the goodies but none of the pain' — here's what Wall Street is saying about Trump's tax plan
***
If the tax plan gave Wall Street anything to work with immediately, it comes on the markets front, where the so-called Trump trade was alive and well Wednesday. Both highly taxed US companies and multinational corporations with large overseas cash holdings rallied as traders bought assets expected to benefit most from a change in tax policy. Here's a more detailed look at trade recommendations.

Without further ado, here's a roundup of Wall Street commentary on the tax plan:>>>

Sep 28 09:39

Top US General Says China Will Displace Russia as ‘Greatest Threat’ By 2025

The highest ranking military officer in the United States armed forces told Congress that he expected China to become “the greatest threat to our nation” by the year 2025, and pushed for an expansion in military spending to “maintain a competitive advantage” over Beijing.

Sep 28 09:26

ECB President Admits Central Banks Have No Power To Regulate Bitcoin “It’s Outside Of Our Jurisdiction”

The president of the European Central Bank (ECB), Mario Draghi, admitted that Bitcoin and other cryptocurrencies used worldwide do not fall under the regulatory powers of the ECB.

“It Would Not Be Within Our Power to Prohibit or Regulate Bitcoin,” Mario Draghi, President of the European Central Bank said.

Draghi made the statement following a question from the European Parliament’s Committee on Economic and Monetary Affairs regarding whether or not the ECB plans to develop regulations pertaining to Bitcoin, and what risks cryptocurrencies may pose to the European economy...

Sep 28 09:08

Switzerland, Iran to Fortify Bilateral Ties

A head of a trip by a private sector delegation to Switzerland, the head of Tehran Chamber of Commerce, Industries, Mines and Agriculture met with the newly-appointed ambassador of the Central European nation to Iran to discuss ways of strengthening bilateral ties, mainly by resolving banking issues inside and outside Iran.

TCCIM chief, Masoud Khansari, said that in addition to furthering its own diplomatic affairs with Iran, the Swiss Embassy is tasked with preserving other nations' interests and therefore plays a significant role in this area.

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