ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 24 18:09

Will Labor Shortage Kill Housing Boom?

May 24 15:52

Real estate CEO steals $1.6million from his own company to fund cocaine-fueled nights at strip clubs and family trips to Broadway shows

A former New York executive has admitted to stealing $1.6million from his real estate company to pay for cocaine binges and trips to strip clubs where he spent more than $16,000.

Rockie Gajwani, the former CEO of New York-based Trevi Retail, pleaded guilty to one count of wire fraud and three counts of tax evasion in Manhattan federal court on Tuesday.

Officials said that Gajwani funded nonbusiness expenses, including cocaine-fueled trips to strip clubs, with checks he wrote himself money wired from company funds.

He was arrested in 2016 after being accused of stealing as much as $2.4million from the real estate company he headed until 2013, according to theNew York Post.

Webmaster's Commentary: 

While we are on the subject of corrupt money-junkies...

May 24 15:20

How To Live in Peace — Walter Williams on the free market instead of gov’t.

Millions of people love Apple computers and wouldn’t be caught using a PC. By contrast, there are many millions of PC users who feel the same way about Apple computers. Many men like double-breasted suits, but I wouldn’t be caught dead in one. Some people swear by Cadillac cars, but my favorite is Mercedes-Benz. -- Despite these strongly held preferences, there’s no conflict. We never see Apple computer lovers picketing firms that serve PC lovers. Mercedes-Benz lovers don’t battle Cadillac lovers. In free markets, people with strong differences in preferences get along and often are good friends. The reason is simple. If you like double-breasted suits and I like single-breasted suits, we get what we want.

May 24 14:23

King Dollar; Breaking key support levels

May 24 13:28

We Are Now Witnessing The Total Break Down Of The System

UK's consumers are tapped out and the retail industry was just hit and the entire market is now slowing. The EU will not let the UK exit they want 112 Billion Euros to leave. Greek bailout is not working out, Greece is now back in a recession, which they never really left.

May 24 12:07

"This Is Probably Just The Beginning" - Chinese Banks Are In Big Trouble

That's not supposed to happen...

With the crackdown on financial system leverage underway, Chinese banks (and securities firms) are in big trouble. As we noted previously, China's bond curve is inverted, yields are surging, and Chinese regulatory decisions shutting down various shadow-banking pipelines has crushed securities firms' stocks. However, as Bloomberg points out, as China’s deleveraging efforts cut into banks’ profit margins, rising base funding costs and interbank credit risk concerns have pushed banks' cost of borrowing beyond the rate they charge customers for loans for the first time in history.

May 24 12:07

Moody’s downgrades China rating to A1 from Aa3, citing concerns over a slowing economy and growing debt

Moody's Investors Service on Wednesday downgraded China's credit rating to A1 from Aa3, changing its outlook to stable from negative, citing concerns efforts to support growth will spur debt growth across the economy.

May 24 11:45

Isles rank second across the nation in consumer debt

Hawaii’s high cost of living has given residents the dubious honor of having the second-highest consumer debt per person in the nation.

May 24 10:28

Marks & Spencer pre-tax profits tumble 64pc

May 24 10:28

NO DEAL: Greece default looms as Eurozone and IMF clash over debt measures

EUROZONE countries are at loggerheads with the International Monetary Fund (IMF) over Greece's debt programme, as time runs out to stop Athens crashing into bankruptcy and out of the bloc.

May 24 10:20

UN Chief: Climate-Aware Businesses Will Dominate Tomorrow’s Economy

(don't be fooled - The REAL definition of Global Warming:
Vladimir Lenin said, “A lie told often enough becomes the truth.” Hitler followed suit: “If you tell a big enough lie and tell it frequently enough, it will be believed.” The world has believed the UN’s lies now accepts them as truth. This is the grand Technocrat delusion. ? TN Editor
-------------------
Antonio Guterres, who took over the reins from Ban Ki-Moon at the start of the year, described climate change as the “defining element of our time”. In an interview with Channel 4 news this week, the former Portuguese Prime Minister warned the world could ill-afford to waste any more time on reversing the impacts of global warming.

“Climate change is, to an extent, the defining element of our time,” he said. “These are critical moments. We know that either we act now or we will create irreversible damage to our planet that will make our grandchildren suffer a lot.”

May 24 10:19

Bitcoin 101 with Sarah Wiesner

Interest in bitcoin is growing. One reason is the price. Bitcoin prices are rising, with market capitalization approaching approximately $25 billion – almost five times greater than the market cap of the next largest cryptocurrency.

May 24 10:14

Bitcoin Explodes Above $2400 After China Downgrade, Scaling Agreement Reached

Following comments from DoubleLine's Jeff Gundlach tieing the surge in virtual currencies to the demise of China (right before that nation is downgraded), Bitcoin surged overnight, breaking above $2400 for the first time. It is now up over 150% year-to-date.

May 24 10:06

MEPs Slam German Finance Minister Over 'Stubborn Austerity Obsession' on Greece

MEPs in the European Parliament have hit out at Germany's finance minister saying "Greece has been destroyed by dogmatic cuts while it continues to suffer under its debt burden cannot recover" and slamming the "the stubborn austerity obsession of the German Finance Minister."

May 24 10:06

Trump’s Budget Slashes $3.6 Trillion From Domestic Programs Over 10 Years

The Trump administration’s $4.1 billion budget proposal calls for increased spending on law enforcement, the military and the US-Mexico wall, but cuts spending for programs for the poor by slashing funding for Medicaid and cutting food stamps.

May 24 08:02

Central Banks Developing ONE WORLD CURRENCY to Replace the U.S. Dollar!

The global bankers want to create an international monetary standard to replace the U.S. dollar. Perhaps the IMF will be their choice. They already have an SDR, why not just make that the international standard and forego all rules put in place by governments? Just accept whatever the supranational entities tell us.

May 24 07:40

Ron Paul Exposes The Presidential Budget Charade

Presidential budgets are pure hocus-pocus.

May 24 07:37

Trump Backs Sunni Radical Islam over Moderate Shi’ism

President Donald Trump signaled to the nations of the Middle East and Muslim world that he strongly backs radical Sunni Islam, mostly embodied by Saudi Arabia’s brand of Wahhabism, over the emerging moderate Shi’ism on display in Iran. Trump’s first visit to another country as president was Saudi Arabia. Trump was also the only president to make Saudi Arabia his first stop after taking office. The decision to honor Saudi Arabia with such U.S. presidential protocol was a calculated one.

May 24 07:33

The Republic Has Fallen: The Deep State’s Plot to Take Over America Has Succeeded

No doubt about it.The coup d’etat has been successful.
The Deep State—a.k.a. the police state a.k.a. the military industrial complex—has taken over.
The American system of representative government has been overthrown by a profit-driven, militaristic corporate state bent on total control and global domination through the imposition of martial law here at home and by fomenting wars abroad.

When in doubt, follow the money trail.

Enter Donald Trump, the candidate who swore to drain the swamp in Washington DC.

Instead of putting an end to the corruption, however, Trump has paved the way for lobbyists, corporations, the military industrial complex, and the Deep State to feast on the carcass of the dying American republic.

May 24 07:03

The only retail stocks to own during the ‘apocalypse’

Bodies are stacking up in the retail sector.

Regular readers know what I’m talking about. As I explained on Friday, 14 retailers have already gone bankrupt this year. That’s the most retail bankruptcies ever at this time of the year.

This bankruptcy wave is showing no signs of rolling over, either.

May 23 19:49

Will Quant Funds Trigger the Next Stock Market Crash?

Having surged for years, quant hedge funds dominate stock trading.

May 23 18:42

EU in turmoil as members turn on each other in vicious scrap for UK's lucrative euro trade

BRUSSELS has become blighted by infighting between its three biggest member states as an increasingly bitter battle to secure a slice of Britain’s lucrative financial services sector heats up.

Germany, France and Italy have got the knives out in a vicious scrap to secure control over the multi-trillion pound euro clearing industry after the UK leaves the EU.

Currently the City of London acts as the main clearing base for transactions carried out using the single currency, an industry estimated to be worth £736 billion a day.

May 23 18:22

The Two Factors That Influence Gold Prices

Here’s two of the most intuitive factors: Supply and demand as well as inflation.

It may be an oft-overlooked point, but simple supply-and-demand economics can influence physical gold prices as well.

May 23 18:21

Economy Is Collapsing - Stand Up And Fight

May 23 17:43

They Are Killing Small Business: The Number Of Self-Employed Americans Is Lower Than It Was In 1990

After eight long, bitter years under Obama, will things go better for entrepreneurs and small businesses now that Donald Trump is in the White House? Once upon a time, America was the best place in the world for those that wanted to work for themselves.

May 23 15:54

Trump Calls For $1.7 Trillion In Social Cuts

The Trump administration will unveil a fiscal year 2018 budget today that includes $1.7 trillion in cuts to major social programs. The plan marks a new stage in a bipartisan social counterrevolution aimed at eviscerating what remains of programs to fight poverty and hunger and provide health care for millions of workers.

May 23 15:39

Robots could wipe out another 6 million retail jobs

Robots have already cost millions of factory jobs across the nation. Next up could be jobs at your local stores.

Between 6 million to 7.5 million existing jobs are at risk of being replaced over the course of the next 10 years by some form of automation, according to a new study this week from by financial services firm Cornerstone Capital Group.

That represents at least 38% of the current retail work force, which consists of 16 million workers. Retail could actually lose a greater proportion of jobs to automation than manufacturing has, according to the study.

May 23 11:18

Greek Debt Relief Deal Fails In Last Minute, As Germany, IMF Clash Again

Stop us if you've heard this story before.

Insolvent Greece, having last week voted itself into even more austerity in hopes of unlocking some of the money promised it by Brussels so it can then use it to repay debt maturities owed to the ECB (whether it will actually follow through with said austerity measures remains unclear, though most likely not), is dragged to the finish line of yet another Euro finance minister negotiating session with promises that this time a debt relief deal is virtually guaranteed, and then... it all falls apart.

That's what again happened today, when Euro-area finance ministers gathered in Brussels with hopes, at least for the Greek delegation, to come home with a signed agreement, only to fail to break the impasse on debt relief for Greece, delaying the conclusion of the country’s bailout review and the disbursement of fresh loans needed to repay obligations in July.

May 23 11:16

Ponzi Scheme: What The Chicago Teachers' Pension Would Be Called If It Were A Hedge Fund

A long, long time ago, back in 2008 when most of today's hedge fund analysts were still stressing over what to wear to prom, a man named Bernard Madoff was arrested for bilking unsuspecting investors out of $65 billion. Madoff ran what is traditionally referred to as a ponzi scheme in which new investments were solicited as a means to fund massive redemptions that otherwise would have resulted in a collapse of his fund long before the FBI finally caught up with his scheme.

But, Madoff was eventually caught and in 2009 he was sentenced to 150 years in prison for his scheme.

Ironically, many of our states and cities today are running very similar ponzi schemes (aka "massively underfunded pension funds"), using taxpayer money nonetheless, but it's completely legal and not many people seem to notice and/or care.

May 23 10:39

THE PRICE OF HELLFIRE MISSILES: EVERYTHING AMERICANS COULD BUY AT THE COST OF A DRONE STRIKE

As Donald Trump’s plan to Make America Great Again unfolds, there is at least one thing he will not need to worry about because the United States is already greatest at it — spending the most money to kill people. With US defense spending being more than the next 7 countries combined, none of our competitors will be catching up to us anytime soon. In this case, the greatness of the US is beyond question and it comes at a cost — but that is the price we pay for our freedom. And no one can put a price on freedom. But have any of you wondered — if you could put a price on freedom — what its cost would be? Or, in other words — how great exactly is the price of things like Hellfire missiles?

THE COSTS OF FREEDOM:
WHAT ELSE CAN WE BUY AT THE PRICE OF A HELLFIRE MISSILE?

Webmaster's Commentary: 

It is amazing to me that Americans vote, and continue to vote, but absolutely nothing changes; the American Deep State's war agenda continues apace, with more military interventions through which foreign resources are expropriated, to which this country and its corporate minions have utterly no moral right; regimes are toppled and changed to insure that they are Western-centric (at least, nominally); those resources are only sold in US dollars; and countries get balkanized, and left in chaos and ruins, in order to insure that they will never again be an "existential threat" to the United States, militarily or economically.

If you want want an example of this, writ large, just please remember what happened to Libya's Qaddafi, when he was about to announce that his country's oil was going to be sold in a national Libyan currency, the gold dinar, rather than US dollars; his country got invaded, and he got assassinated.

No one wants to talk about this, but at this point in this country's history, it appears that citizens of this country are absolutely not in any degree of control over it, whatsoever.

Yes, we have these elaborate, Kabuki-drama style national, and state, elections; but at the end of the day, it is the corporations which buy candidates to craft legislation to their liking, and the Deep American State, which are in control.

The country I thought I knew, no longer exists, outside of a complete fantasy construct; and I feel like an alien in my own land.

My eyes wide open to the brutal reality I see, where the most fragile in our society are simply abandoned, and am anticipating a very terrifying, martial future in the days and years to come.

May 23 10:21

Trump’s Budget Cuts Deeply Into Medicaid and Anti-Poverty Efforts

President Trump plans to unveil on Tuesday a $4.1 trillion budget for 2018 that would cut deeply into programs for the poor, from health care and food stamps to student loans and disability payments, laying out an austere vision for reordering the nation’s priorities.

May 23 10:08

Arizona Ends Income Taxation On Gold And Silver Coins

By Jp Cortez

Sound money advocates rejoiced today as Arizona Governor Doug Ducey signed House Bill 2014 into law last night. The measure, which passed in the Arizona state Senate on May 10th by a margin of 16-13, removes all income taxation of precious metals coins at the state level...

May 23 09:41

EU SUPERSTATE: Brussels 'to force EVERY member state to adopt euro by 2025'

Nine of the 28 member state in the EU are currently not part of the single currency.

The UK and Denmark are exempt, but the remaining seven nations all agreed to adopt the euro when they joined the bloc.

And now the European Commission has now demanded they them all start using the crisis-hit currency within eight years, according to insiders.

May 23 09:23

Foodora and Deliveroo couriers protest working conditions in Berlin

About 40 to 50 bike couriers met in the hip Kreuzberg district of Berlin on Thursday afternoon to protest for better pay and conditions.

“I’m here for solidarity with my colleagues,” explains Deliveroo courier Javier Mardones, 32, originally from Chile.

“Slowly the conditions are getting worse. They pay you one euro less every month, or they make you wear a uniform when they didn’t before. They just don’t seem to consider out situations.”

The union FAU has been slowly organizing food couriers to collectively fight for demands such as earning one euro more per delivery or hour (depending on employment structure), and having an additional paid hour per week to plan their shifts. The group also want more transparency about working hours, and a guarantee that each biker receives enough hours to make a living.

May 23 09:21

EU Presidency Holder Malta Exposed as 'Pirate Base' for Global Tax Avoiders

New evidence from the European Investigative Collaborations has exposed the fact that Malta is actively marketing itself as a pirate base for tax avoidance inside the EU, welcoming large companies and wealthy private clients who try to dodge taxes in their home countries.

May 23 09:13

THE PRICE OF HELLFIRE MISSILES: EVERYTHING AMERICANS COULD BUY AT THE COST OF A DRONE STRIKE

As Donald Trump’s plan to Make America Great Again unfolds, there is at least one thing he will not need to worry about because the United States is already greatest at it — spending the most money to kill people. With US defense spending being more than the next 7 countries combined, none of our competitors will be catching up to us anytime soon. In this case, the greatness of the US is beyond question and it comes at a cost — but that is the price we pay for our freedom. And no one can put a price on freedom. But have any of you wondered — if you could put a price on freedom — what its cost would be? Or, in other words — how great exactly is the price of things like Hellfire missiles?

May 23 08:48

The City Of Baltimore Is Utterly Collapsing

May 23 06:54

Trump's Budget Will Slash $1.7 Trillion In Entitlements, Cut Food Stamps By 25%

Here are some of the highlights from the latest batch of trial balloons:

The budget will slash $1.7 trillion in spending on entitlement programs, according to Bloomberg.
Trump’s budget will include a massive nearly $200 billion cut to the Supplemental Nutrition Assistance Program, the modern version of food stamps, over the next 10 years – what amounts to a 25% reduction, according to The Washington Post.
The food stamp cuts are part of a broader $274 billion welfare-reform effort, according to a report by The Associated Press.
The budget calls for about $800 billion in cuts to Medicaid for fiscal year 2018, WaPo reported.
The budget also calls for $2.6 billion in border security spending, $1.6 billion of which will be earmarked for Trump’s proposed wall along the U.S.’s southern border.

May 23 02:55

Over The Last 10 Years The U.S. Economy Has Grown At EXACTLY The Same Rate As It Did During The 1930s

Even though I write about our ongoing long-term economic collapse every day, I didn’t realize that things were this bad. In this article, I am going to show you that the average rate of growth for the U.S. economy over the past 10 years is exactly equal to the average rate that the U.S. economy grew during the 1930s.

May 22 12:32

The Yen-Bitcoin Carry Trade

May 22 11:37

$2,000 BITCOIN: COULD ETHEREUM GO TO $1,000?

Bitcoin is poised to pass $2,000 USD tonight, while Ethereum is up nearly $40 today alone to $127. Less than three months ago Ethereum was at $8. The crypto currencies are on fire, and in the case of Ethereum, for good reason. With a $11-12 Billion market cap, we ask the question: Could Ethereum be the next $1,000 crypto?

May 22 10:52

These Eleven Retailers Will File For Bankruptcy Next, According To Fitch

Furthermore, according to a recent WSJ analysis, at least 10 retailers, including Payless ShoeSource, hhgregg, The Limited, RadioShack, BCBG, Wet Seal, Gormans, Eastern Outfitters, and Gander Mountain had filed for bankruptcy protection through the end of April, which compares with nine retailers that declared bankruptcy for all of 2016. All of the companies in bankruptcy have announced plans to shutter some if not most of their stores.

Webmaster's Commentary: 

1/5 of Americans cannot pay their monthly bills.

40% of Americans do not pay taxes.

Illegal immigrants pay no taxes.

90 million Americans cannot find a job.

So, remind me again how this economy is in "recovery?"

May 22 10:38

We Are Witnessing A Startling Breakdown In Market Breadth. It Is Worse Than Both Prior To The 1987 And 2000 Market Draw Downs.

We are witnessing a startling breakdown in market breadth. It is worse than both prior to the 1987 and 2000 market draw downs. Similar to the Dotcom Bubble when it finally burst in 2000, it is being held up by a hand full of stocks which were referred to in 2000 as the "Generals".

May 22 10:27

David Stockman Sounds The Alarm – Fiscal Bloodbath and Market Crash to Occur “Between August and November”

As time goes on, it’s becoming abundantly clear that Trump isn’t going to be able to prevent a major financial crisis in this country. Depending on your beliefs, that’s either because he’s inept in some way, or because he’s being hamstrung by a political system that’s determined to keep our nation on the same unsustainable path. Whatever the case may be, it seems that there is no way that we can change course at this point. We’re headed for a financial crisis, and it’s going to happen sooner rather than later.

May 22 10:08

Shocking Admission From NY Bankruptcy Judge: "Chapter 11, 15 Filings Have Exploded"

A stunning soundbite was captured by a Bloomberg reporter during last week's event at the American Bankruptcy Institute. According to judges speaking at an ABI conference Thursday in Manhattan, the U.S. Bankruptcy Court for the Southern District of New York is seeing a sharp rise in cases this year, with Chapter 11 and Chapter 15 filings outpacing national averages.

"Chapter 11s and Chapter 15s have exploded" said U.S. Bankruptcy Judge Shelley Chapman, speaking at American Bankruptcy Institute event, cited by Bloomberg reporter Tiffany Kary.

The numbers for the bankruptcy court which serves Manhattan are, frankly, horrifying: Chapter 11s have tripled in the first quarter of the year, while Chapter 15s for companies seeking U.S. aid for a reorganization in a foreign court have increased sevenfold, Chapman added.

May 22 10:08

Commodities Bust Hits Farm Lenders, Delinquencies Surge 225%

Just as the deflating Farmland bubble leaves its marks.

When it comes to agricultural debt, the numbers aren’t huge enough to take down the global financial system. But this shows how much pain the commodities rout is producing in the farm belt just when the farmland asset bubble that took three decades to create is deflating, and what specialized lenders and the agricultural enterprises they serve – some of them quite large – are currently struggling with in terms of delinquencies.

May 22 09:25

Trump's Budget Will Slash $1.7 Trillion In Entitlements, Cut Food Stamps By 25%

Here are some of the highlights from the latest batch of trial balloons:

The budget will slash $1.7 trillion in spending on entitlement programs, according to Bloomberg.

Trump’s budget will include a massive nearly $200 billion cut to the Supplemental Nutrition Assistance Program, the modern version of food stamps, over the next 10 years – what amounts to a 25% reduction, according to The Washington Post.

The food stamp cuts are part of a broader $274 billion welfare-reform effort, according to a report by The Associated Press.

The budget calls for about $800 billion in cuts to Medicaid for fiscal year 2018, WaPo reported.

The budget also calls for $2.6 billion in border security spending, $1.6 billion of which will be earmarked for Trump’s proposed wall along the U.S.’s southern border.

The budget is also expected to propose major domestic discretionary spending cuts - an earlier version of the budget called for $54 billion in such cuts next year alone.

May 22 09:25

THE TENS OF MILLIONS OF FORGOTTEN AMERICANS THAT THE U.S. ECONOMY HAS LEFT BEHIND

The evidence that the middle class in America is dying continues to mount. As you will see below, nearly half the country would be unable “to cover an unexpected $400 expense”, and about two-thirds of the population lives paycheck to paycheck at least part of the time. Of course the economy has not been doing that well overall in recent years. Barack Obama was the only president in all of U.S. history not to have a single year when the economy grew by at least 3 percent, and U.S. GDP growth during the first quarter of 2017 was an anemic 0.7 percent. During the Obama era, it is true that wealthy enclaves in New York, northern California and Washington D.C. did thrive, but meanwhile most of the rest of the country has been left behind.

Webmaster's Commentary: 

These are not the statistics indicating that the US economy is rebounding, except, perhaps, for the one percenters; these are the statistics of an American economy in absolute, profound, and intense decline.

May 22 08:51

Saudi Arabia pledges $20 billion to Blackstone for American infrastructure

Saudi Arabia is pledging $20 billion to an American private investment firm to pay for infrastructure projects in the United States.

The firm at the center of the deal, the Blackstone Group (BX), has a close connection to President Trump. Blackstone CEO Steve Schwarzman advises the president on policy issues ranging from trade to infrastructure.

The $20 billion in Saudi money is part of a larger effort by Blackstone to invest stateside in toll roads, airports and other public works.

Webmaster's Commentary: 

Note that it is TOLL roads.

May 22 08:33

GREEK AUTHORITIES TO LAUNCH MASS CONFISCATION OF SAFE DEPOSIT BOXES, SECURITIES, HOMES IN TAX-EVASION CRACKDOWN

Last week, the Greek parliament once again approved more austerity to unlock withheld Greek bailout funds in Brussels: a symbolic move, which has little impact without any actual follow through, like for example, actually imposing austerity. And while Greeks have been very good in the former (i.e. promises), they have been severely lacking in the latter (i.e. delivery).

That may be changing. According to Kathimerini, Greek Finance Ministry inspectors are about to start seeking out the owners of all local undeclared properties, while the law will be amended to allow for financial products and the content of safe deposit boxes to be confiscated electronically. The plan for the identification of taxpayers who have “forgotten” to declare their properties to the tax authorities is expected to be ready by year-end, according to the timetable of the Independent Authority for Public Revenue.

Webmaster's Commentary: 

It is instructive to watch what is going on with the governments of Greece and Venezuela, as this is precisely how the US government will be looting the property and assets of its citizens when the financial excrement hits the ventilation system once the US economy has crashed.

David Stockman sounds the alarm: Fiscal blooddbath and market crash to occur between August and November, 2017

May 22 07:07

Bitcoin Blows Through $2100

Bitcoin is now up over 135% year-to-date, having screamed above $2000 and $2100 overnight as the dollar limped to 6-month lows...

May 22 07:05

Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, Homes In Tax-Evasion Crackdown

The Greek parliament is set to pass regulations permitting the mass confiscation of safe deposit box contents and financial assets such as securities; tax authorities will be able to issue online confiscation notices and immediately get their hands on the contents of safe deposit boxes, confiscating cash, precious stones, jewelry and so on.

May 22 06:15

Bitcoin just hits $2100.

May 22 05:05

The Tens Of Millions Of Forgotten Americans That The U.S. Economy Has Left Behind

The evidence that the middle class in America is dying continues to mount. As you will see below, nearly half the country would be unable “to cover an unexpected $400 expense”, and about two-thirds of the population lives paycheck to paycheck at least part of the time.

May 22 02:09

The Market Is Overvalued And Manipulated To Keep The People From The Truth

Many Americans have never recovered from the great recession, many don’t have the ability to meet a $400 emergency expense. Many people said they would have to go further into debt to meet the emergency.

May 21 10:51

EXPOSED: You Won't Believe Who's Helping George Soros Hijack The Texas Gold Industry!

Josh Sigurdson breaks down groundbreaking information from top anonymous sources exposing George Soros, Kyle Bass, Eric Sprott, Peter Schiff and the role GoldMoney, Hayman Capital and Dillon Gage have in monopolizing the Texas gold industry by weaselling into the administrative rolls at the Texas Gold Depository and UTIMCO.

May 21 10:30

A QUARTER OF AMERICAN ADULTS CAN'T PAY ALL THEIR MONTHLY BILLS; 44% HAVE LESS THAN $400 IN CASH

Nearly eight years into an economic recovery, nearly half of Americans didn’t have enough cash available to cover a $400 emergency. Specifically, the survey found that, in line with what the Fed had disclosed in previous years, 44% of respondents said they wouldn’t be able to cover an unexpected $400 expense like a car repair or medical bill, or would have to borrow money or sell something to meet it. Troubling as this statistic remains, the overall share of adults who would struggle to come up with $400 in a pinch has declined by 2% from the last survey conducted in 2015, and down 6% since 2013.

Of the group that could not pay in cash, 45% said they would go further in debt and use a credit card to pay off the expense over time. while a quarter would borrow from friends of family, and another 27% just couldn’t pay the expense. Others would turn to selling items or using a payday loan.

May 21 09:47

Great Again? The Trump Administration's Push To Take Us Back To 3% Growth

An overly optimistic tone from the President and Treasury Secretary is nothing new but this kind of hope for a more prosperous economy for all Americans is quite ambitious.

And there is quite a lot standing in their way.

May 21 08:47

How much Marijuana has been Grown in Washington? Over 150,000 Pounds of Useable Marijuana was Produced in Fiscal Year 2017

How much marijuana has been grown in Washington? Over 150,000 pounds of useable marijuana produced in fiscal year 2017 under Washington’s Legal System. Washington’s legal marijuana market is booming, which is resulting in a lot of cannabis being grown.

According to the Washington State Liquor and Cannabis Board, there has been 363,268 pounds (lbs) of marijuana harvested in fiscal year (FY) 2017, which began on July 1, 2016 and ends on June 30. Of this harvested marijuana, 155,494 lbs is considered “useable”, which is what is sold at marijuana retail outlets.

https://www.pinterest.com/pin/307652218271472185/

May 21 07:52

The Cyber Threat to Your Savings Now More Serious than Ever

Last week, another round of cyber-attacks crippled computer systems across the world. As these attacks become more frequent, Americans need to understand what it means for their financial security.

For better or worse, a huge portion of what we do today happens online. And that includes our banking and investing.

May 21 07:29

President Trump’s First Day On His Trip Abroad Is A Smashing Success! More Jobs And Investments! And Melania Wows!

President Trump started the first day of his trip abroad in Saudi Arabia. He was elated as he described the day as “a tremendous day”…bringing in billions of jobs and investments in America. Trump said this to reporters on Saturday:

“That was a tremendous day. I just want to thank everybody. But tremendous investments in to the United States, and our military community is very happy, and we want to thank you and Saudi Arabia. But hundreds of billions of dollars of investments into the United States and jobs, jobs, jobs.”

May 21 06:34

How Long Can The Great Global Reflation Continue? And What Will Happen When It Ends?

Every now and again, it’s good to take stock of the Great Global Reflation that has been marching higher (with a few stumbles and scares) since early 2009, over eight years ago.

Is this Great Reflation running out of steam, or is it poised for yet another leg higher? Which is more likely?

May 21 06:26

28-minute interview: pointing to trillions looted by .01% lying ‘leaders’ READY TO BE RECLAIMED upon public demand, ~ $1 million per US household benefits of CAFR disclosure, monetary reform & public banking first documented by Ben Franklin to fully fund

*hyperlinks/videos live at source*

Among ~100 areas of game-changing objective factual data, CAFR disclosure (Comprehensive Annual Financial Reports), monetary reform, and public banking at ~$1 million of near-instant benefits per average US household make this topic literally the most valuable for public attention. The converse option is to surrender tens of trillions to these asset-holes, to kiss our assets goodbye to escalating rogue state empire.

Below is the documentation. Here is a 2014 interview by Guy Evans that walks anyone through the facts in 28 minutes:

Why does US national debt and total debt only and always increase?

Demonocracy’s sharp 2 minutes of the tragic-comic mathematical certainty for a society that creates what is used for money as debt; just as certain as adding negative numbers forever causes only and always increasing aggregate debt until a system collapse:

May 21 05:05

"Stock Markets Have a Long History of Booming" After This

How could the attempted military coup in Turkey in July 2016 have possibly been a bullish sign for Turkish stocks? Get our insights -- and see two charts that show the price story.

May 20 17:08

Commodities Bust Hits Farm Lenders, Delinquencies Surge 225%

Just as the deflating Farmland bubble leaves its marks.

May 20 16:20

OPEC or Not, Crude Oil Prices Will Go "Here"

May 20 14:44

CRASH2: why the oil glut looks more and more like the catalyst for collapse

Anyone looking to oil as a long-term hold in 2017 needs to examine the realities more closely. The glut can no longer be denied – while the rise of electric vehicle power spells big trouble for Arabs, Islam, stock markets, frackers and the Pentagon.

May 20 14:28

Billions Are Shorting The Market In Preparation For The Financial Apocalypse

IMF & Eurozone are threatening to walk away from Greece because they want Greece to implement more austerity. UBS hints of massive auto lending fraud, which mimics the housing market fraud back in 2008.

May 20 14:12

Cyber Attacks Are the Perfect Trigger for a Stock Market Crash

The world has been stunned over the past few days by the advent of “Ransomware;” the use of sophisticated cyber attacks on vital systems in order to (supposedly) extort capital from target businesses and institutions. I am always highly suspicious whenever a large scale cyber incident occurs, primarily because the manner in which these events are explained to the public does not begin to cover certain important realities. For example, the mainstream media rarely if ever discusses the fact that many digital systems are deliberately designed to be vulnerable.

May 20 13:32

Preparing for the Collapse of the Petrodollar System, Part 2

In part one of this four part article series, I provided a background to our modern petrodollar system by explaining the "dollars for gold" arrangement that was put in place by global leaders through the Bretton Woods conference in the final days of World War II.

The article provided a brief evolution of the Bretton Woods agreement from its inception in 1944 to its ultimate demise in 1971. As detailed, in the late 1960's, this "dollars for gold" system had become unsustainable as Washington insisted upon the adoption of a "welfare state" that relied upon massive entitlements and a "warfare state" that required perpetual wars.

May 20 13:27

Preparing for the Collapse of the Petrodollar System, Part 1

by Jerry Robinson

Recently, there have been many news headlines containing the words “Iran”, “nuclear capability”, “Syria“, and “Islamic State“. If you listen closely, you can almost hear the drumbeats of a fresh war in the Middle East.

As an economist, I have been trained to view the world through the lens of incentives. (I am a "bottom line" kind of guy.) And just as every action is motivated by an underlying incentive, every decision has a related consequence.

This brief article details the actions, incentives, and related consequences that the United States has created through its attempts to maintain global hegemony through something known as the petrodollar system.

May 20 11:57

Nine Interesting Facts About Bitcoin

By now many people have heard about Bitcoin even if they don’t use the virtual currency. As Bitcoin gains prominence people are learning more about how cryptocurrencies work as well as what makes it unique from other payment options. People are finding very creative ways to use Bitcoin, which has lead to some interesting stories and facts.

May 20 11:40

THE CITY OF BALTIMORE IS UTTERLY COLLAPSING

May 20 10:21

The 5 Costliest Financial Regulations of the Past 20 Years: A Timeline

Last year, the Federal Register—the U.S. government’s depository of rules and regulations—hit an all-time high of 81,640 pages. Among the industries that bear the greatest regulatory oversight is financials, which has seen a disproportionate amount of scrutiny in recent years, especially following the 9/11 attacks and subprime mortgage crisis.

May 20 09:16

Does the Minimum Wage Prevent Poverty?

May 20 08:38

FOREIGN-BORN WORKERS NOW ACCOUNT FOR 17 PERCENT OF U.S. LABOR FORCE

The number of foreign-born workers in the U.S. rose to nearly 27 million in 2016, up about 700,000 from the previous year and representing 16.9 percent of the nation’s labor force, according to an annual report from the Bureau of Labor Statistics released Thursday. That’s the highest proportion in records going back to 1996, when immigrants accounted for just 10.8 percent of the workforce.

May 20 08:28

The Federal Reserve Must Go

If you want to permanently fix America’s economy, there really is no other choice. Even before Ron Paul’s rallying cry of “End The Fed” shook America during the peak of the Tea Party movement, I was a huge advocate of shutting down the Federal Reserve. Because no matter how hard we try to patch it up otherwise, the truth is that our debt-based financial system has been fundamentally flawed from the very beginning, and the Federal Reserve is the very heart of that system.

May 20 08:28

Giant Plants of Southern Oregon

Jack would have forgot about the beanstalk if he was growing some of these seeds!

Oregon medical marijuana growers are allowed up to six plants per patient, and many patients grow for themselves. So if you’re an experienced and ambitious grower, but you’re only allowed half a dozen plants, what do you do? You grow them really, really big.

Under the Radar

The Pacific Northwest grows some of the world’s best marijuana, and legalization in Washington and Oregon has legitimized this rapidly expanding industry. Huge green crosses now advertise cannabis businesses along I-5, and the region’s green rush has been augmented by legalization in California, creating a sold green bloc of legal West Coast states. Competition has lowered prices, but the demand remains high, especially for organic, pesticide-free, medical-grade cannabis.

May 20 07:27

Want to Understand Rising Wealth Inequality? Look at Debt and Interest

"Governments cannot reduce their debt or deficits and central banks cannot taper. Equally, they cannot perpetually borrow exponentially more. This one last bubble cannot end (but it must)."

May 20 06:33

Central Bank/Deep State Have Setup The Economy To Crash Under Trump

Earnings are in and the major companies are reporting declining earnings and don't expect growth this year. Auto manufactures are backing out of their promises to bring jobs back to America.

May 20 04:25

How Will The ‘GREAT DEFLATION’ Impact Gold & The Dollar?

The coming GREAT DEFLATION will impact the value of Gold and the Dollar much differently than what most analysts are forecasting. Unfortunately, most analysts do not understand the true underlying value of gold or the U.S. Dollar, because they base their forecasts on information that is inaccurate, flawed or imprecise.

May 19 15:06

Jeff Sessions Intent on Including Medical Pot in His Sinister War on Drugs

Medical marijuana, which we thought was safe from the long arm of the feds, got thrown a curve ball with Trump's signing statement on a bill earlier this month, in which the president implied that he would do what he felt like doing when it came to MMJ regardless of state laws and his previous stances.

Given Sessions relentless opposition to medical marijuana ,underscored recently when he said it has been hyped, maybe too much, advocates are worried that the administration is planning a full frontal assault on state MMJ programs, 29 in all.Meanwhile, a Quinnipiac poll last month found that 94 percent of Americans, including 90 percent of Republicans, support medical marijuana.

How does the Trump administration continually get away with blatantly violating the will of the people?

May 19 14:13

Gold is at its cheapest level since 2008

Compared with stocks, gold is trading on the “bargain counter.”

That’s the message of today’s chart, which tracks the price of gold relative to the index level of the Dow.

May 19 13:17

Greek parliament passes austerity cuts as Molotov-throwing protesters clash with police in Athens

New pension cuts and severe tax hikes have been approved by the Greek parliament as thousands of demonstrators protested new austerity measures amid clashes with police, Molotov cocktails and tear gas in central Athens.
The latest batch of austerity measures was passed late on Thursday with 153 votes secured by the ruling coalition government of PM Alexis Tsipras’ Syriza party and the Independent Greeks (ANEL), while 128 opposition deputies voted against the measures in the 300-seat parliament.

WATCH MORE: Protesters clash with police at anti-austerity protest in Greece

People took to the streets of Greece’s capital for the second consecutive day to protest new pension and tax-break cuts. The protest turned violent at some point as a small group of masked demonstrators threw Molotov cocktails and other projectiles at the police, who fired tear gas and pepper spray.

The protest was staged by the country’s major trade unions.

Webmaster's Commentary: 

This will not end well.

The Greek government will may be looking at a bloody revolution, if there is not some movement away from the austerity cuts they have just voted in.

May 19 13:11

Trump pulls trigger on Nafta negotiations

The US plans to start talks with Mexico and Canada over Nafta "as soon as practicable", the Trump administration said on Thursday.
The letter to congressional leaders provided formal notice of the administration's intent to move forward with a campaign pledge to reform the 1990s trade deal.
Mr Trump earlier threatened to end the agreement, calling it a job "killer".
Thursday's letter said the deal needs "modernisation".

In 2016, Canada and Mexico were America's second and third-largest trade partners after China.
US trade with the two countries has more than tripled since Nafta went into effect in 1994, with more than $1 trillion goods and services exchanged each year.

But tension has been mounting under Mr Trump, who made tough-on-trade talk a hallmark of his campaign.

In January, he withdrew from the Trans-Pacific Partnership.

Webmaster's Commentary: 

The question is not about modernising NAFTA,which has, honestly, cost Americans jobs; it is a question about HOW this agreement is going to wind up getting modified.

May 19 12:04

FOREIGN-BORN WORKERS NOW ACCOUNT FOR 17 PERCENT OF U.S. LABOR FORCE

Immigrants represent a steadily growing share of the American workforce, a trend that could be interrupted by U.S. efforts to overhaul immigration policy.

May 19 11:56

Is the Market Plunge Just a Storm in a Teacup?

The Deep State and the liberal elites have never accepted Trump as president, despite him being democratically elected, and have been trying to undermine and discredit him since he came to office, a job that is made easier by them controlling most of the media. They are pushing for impeachment on trumped up (no pun intended) charges, and while the chances of this succeeding look rather slim, if they do there will be a lot of angry people out there and even more polarization that is likely to lead to widespread rioting and social unrest.

May 19 10:14

Sears is Dying – It’s Sad – and bad!

Once a mighty giant retailer, Sears is now on life support and dying. Many investors are also going to suffer.

May 19 10:02

'It's a never-ending depression!' ex-Greek finance minister rages at EU imposed austerity

FORMER Greek finance minister Yanis Varoufakis expressed outrage at the European Union saying the bloc is crushing the will of Greece.

Mr Varoufakis hit out at the Brussels bloc over its enforced austerity on the country and control over the Greek parliament.

Attending an anti-EU movement event in Athens, the economist said Greek MPs had voted for debt measures they “did not believe in”.

Greek MPs voted for a £4.3billion round of pension cuts and tax increases ahead of a meeting in Brussels to discuss further possible EU bailout funding.

Speaking at the DiEM25 session, Mr Varoufakis blasted Greece’s “never ending depression”.

May 19 09:33

#WannaCry Ransomware Exposed as a False Flag Attack on Bitcoin

In this video, software and blockchain developer Vin Armani examines the WannaCry ransomware that the corporate media acted like it was the end of the world. Ultimately it appears to be an amateurish false flag attack on bitcoin. But upon digging into the bitcoin addresses used in the attack, Vin discovers a potentially much more nefarious attack on bitcoin.

May 19 09:04

Vast majority of Germans never want to give up cash, poll shows

A recent survey concludes that Germany is far from getting on board with the dream of a cashless society - not because it lacks the infrastructure, but because the people just won't let go of their beloved Bargeld.

The frustration of cash-only shops in a country of far too few cash machines is one all too often documented by our reporters here at The Local.

But even though the rest of the world seems to be moving closer to completely digital or card-based systems, it doesn’t seem likely that Germany will catch up anytime soon, especially when looking at a troubling new survey.

Webmaster's Commentary: 

Almost every day we see a story about how thus-and-such bans' ATM machines are shut down, and with the new NSA-enabled malware locking up entire companies, it is reckless and foolish to suggest a cash-free society, as it means people cannot spend the money they own unless all the computers are working.

May 19 08:58

Deutsche Börse boss blasted by investors for not factoring Brexit in failed LSE deal

THE boss of Deutsche Börse has been attacked by investors over the German company's failed merger with the London Stock Exchange Group (LSE).

May 19 08:52

Senator's Bill Would Punish DeVos for Screwing Over Low-Income Students

Following the rejections, Tester and Republican Sen. Susan Collins of Maine (where the University of Maine at Presque Isle’s application was likewise denied) subsequently got 23 senators to sign onto a letter asking DeVos to reconsider the applications; the government funding bill approved in early May also included a provision that requires the department to reconsider applications. Collins and Tester even wrote to the secretary again this week. But DeVos appears to be "ignoring" these pleas, Tester said in a statement.

May 19 08:46

Tesla workers straining under long hours, low pay and injuries

Trying to meet the ambitious goals of production, Tesla car factory workers complain of intense work pressure, long working days, and lower than average pay. One worker has pressed for union representation.

The revelations come from current and former Tesla workers who talked about the pressure to meet Tesla CEO Elon Musk’s ambitious production goals.

May 19 08:43

MEPs Slam European Central Bank for 'Inflicting Years of Austerity'

MEPs have slammed the German-based European Central Bank (ECB) for "dictating monetary policies across the Eurozone" and has "inflicted years of austerity amongst the EU's southern member states" in a further example of the north-south split within the eurozone.

May 19 08:37

The Decline of the West Revisited

Over five centuries after the Age of Discovery, we all know a long historical cycle is ending. The Decline of the West is shorthand for a tangle of immense complexity – directly proportional to the ascent of the century of Eurasia integration, driven by China's New Silk Roads.

Every time I dig deeper into the Decline of the West, I have to go back to the roots. And that means – echoes of Stendhal, Keats, Nietzsche — a Journey to Italy. I had recently engaged in an extended dialogue with Machiavelli in Florence. This time, the French presidential election was looming – widely billed as the "civilized" West facing a crucial crossroads.

May 19 08:25

Gold and Silver Bullion Coins See Sales “Explosion” In UK On “Wave Of Political Turmoil”

In a warehouse a dozen miles to the northwest of Cardiff, the Royal Mint is running its machines through the night to keep up with demand for one of the big beneficiaries of the last year’s political turmoil – gold and silver bullion.

May 19 02:04

Press is Trying to Create a Stock Market Crash to Get Rid of Trump

The Washington Post, New York Times, and CNN, among others, are desperately trying to get rid of Trump to support the status quo, the deep state, and prevent any economic reform whatsoever. Jeff Bezos bought the Washington Post for $250 million and cut a deal with the CIA to build their cloud getting $600 million.

May 18 22:54

China, ASEAN Countries Agree Draft Framework for South China Sea Code of Conduct

China and the Association of Southeast Asian Nations (ASEAN) have reached an agreement on a framework for the South China Sea Code of Conduct, 15 years after they officially declared their intention to do so.

May 18 19:58

Household Debt Surpassed Record Level Reached During the 2008 Financial Crisis

The New York Federal Reserve reports that household debt across the nation has hit a dubious milestone in the first quarter: It surpassed the peak debt level of 2008 at $12.7 trillion.

May 18 18:32

This Is How an Asset Bubble Gets Unwound these Days

What the slow crash of classic car prices says about the future of other asset classes.

May 18 15:24

Used Vehicle Trade-in Values Sink, Hit New Vehicle Sales

More #Carmageddon data – and its impact.

May 18 14:36

The Current State of the National Debt

May 18 14:12

How Corporate Family Leave Policies Are Fueling Inequality

Some major U.S. corporations recently made headlines by creating relatively generous paid parental leave policies—but a new report out Wednesday shows that most companies only offer paid leave to their corporate employees, and short-change low-wage, hourly workers who would benefit from such policies the most.

May 18 14:11

Closing the ‘Collapse Gap’: the USSR Was Better Prepared for Collapse Than the U.S.

Good evening, ladies and gentlemen. I am not an expert or a scholar or an activist. I am more of an eye-witness. I watched the Soviet Union collapse, and I have tried to put my observations into a concise message. I will leave it up to you to decide just how urgent a message it is.

My talk tonight is about the lack of collapse-preparedness here in the United States. I will compare it with the situation in the Soviet Union, prior to its collapse. The rhetorical device I am going to use is the “Collapse Gap” – to go along with the Nuclear Gap, and the Space Gap, and various other superpower gaps that were fashionable during the Cold War.

May 18 13:20

Is This The Beginning Of The End For Gasoline In Asia’s Largest Markets?

As the rise of electric cars looms ever larger on the horizon for India and China, far-reaching implications for the global oil market are impending. Oil and auto executives are well aware of the coming change, warning refiners to prepare for a future where gasoline is not their primary source of revenue.

May 18 13:17

Did Cisco Just Say Demand is “Very Lumpy?”

It has a history of tripping the stock market.

May 18 12:27

Venezuela’s Oil Production On The Brink Of Collapse

Desperation is spreading in Venezuela as violent protests continue to paralyze the country, further damaging the country’s shattered economy. Venezuela’s already-decrepit oil industry is deteriorating by the day, and an outright implosion is no longer out of the question.

May 18 09:20

Cyber Attacks Are The Perfect Trigger For A Stock Market Crash

The world has been stunned over the past few days by the advent of “Ransomware;” the use of sophisticated cyber attacks on vital systems in order to (supposedly) extort capital from target businesses and institutions. I am always highly suspicious whenever a large scale cyber incident occurs, primarily because the manner in which these events are explained to the public does not begin to cover certain important realities. For example, the mainstream media rarely if ever discusses the fact that many digital systems are deliberately designed to be vulnerable.

Webmaster's Commentary: 

An electronic 9/11 could do incredible damage to the global financial infrastructure; the question is, how does this possibility get stopped?!?

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