ECONOMY | WHAT REALLY HAPPENED


ECONOMY

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?!?

May 18 09:09

Meanwhile... In Greece

You know it's bad when the police are rioting against the new austerity measures assigned from Brussels...

As KeepTalkingGreece reports, tension between protesters from police, fire brigades and coast guard on one side and riot police on the other side broke out shortly after 8 o’ clock in the evening on Wednesday when the angry protesters tried to break the police cordon and enter the Greek Parliament.

Members of of the Greek Police, the Fire Brigades and the Coast Guard marched to the Parliament on the general strike day protesting the new austerity package that will be voted on Thursday at the Parliament.

A day earlier, the Police Union had warned that the government will find them on the opposite side. According to Greek media, the government considers to add some last minutes modifications in the 4.90-billion euro omnibus bill to exempt the Armed Forces from further cuts in wages, pensions and some benefits.

Webmaster's Commentary: 

The Greek government should "pull an Iceland", declare their debt to Brussels odious, and put the politicians, Eurocrats, and bankers who put the Greek people into such a grinding state of austerity (read: utter poverty), in jail.

I have a feeling that regardless of what happens next, a Grexit is in the works, for sure, here.

May 18 09:03

Chinese Insurer Warns Of "Mass Defaults, Social Unrest" Due To "Mass Redemption" Run

One month ago, China came "this close" to the one event which terrifies Beijing more than anything: a run on China's shadow banks.

As a quick reminder, 150 customers of China's Mingsheng Bank, the country's largest private bank, were furious in mid-April when they learned that some 3 trillion yuan invested in Wealth Management Products, the backbone of China's shadow banking system, had vaporized after bank employees had engaged in fraud and embezzled the funds without ever investing it (later it emerged that Mingsheng employees had put the money into “cultural relics” and jewelry, for their own use).

Webmaster's Commentary: 

This may well get very ugly, and very quickly.

May 18 08:20

If China Can Fund Infrastructure With Its Own Credit, So Can We

A key difference between China and the US is that the Chinese government owns the majority of its banks. About 40% of the funding for its giant railway project comes from bonds issued by the Ministry of Railway, 10-20% comes from provincial and local governments, and the remaining 40-50% is provided by loans from federally-owned banks and financial institutions. Like private banks, state-owned banks simply create money as credit on their books. (More on this below.) The difference is that they return their profits to the government, making the loans interest-free; and the loans can be rolled over indefinitely. In effect, the Chinese government decides what work it wants done, draws on its own national credit card, pays Chinese workers to do it, and repays the loans with the proceeds.

May 18 07:59

Brandon Smith Warns: ‘All Global Banking Systems And Stock Exchanges Are Open To Attack With These Same NSA Exploits’

It should be noted that the Ransomware attacks which struck systems around the world used “Wannacrypt,” derived from an NSA exploit called “Eternalblue.” This program was designed to specifically target Microsoft Windows machines, no doubt using vulnerabilities which MicrosoftENGINEERED into their own software. Now, interestingly, a batch of NSA exploits was published online by a hacker group called “the shadow brokers” only last month. From the information I have gathered so far, it seems that “Eternalblue” was part of that data dump and that the Ransomware incident is directly connected.

May 18 07:01

Coca-Cola has been quietly cutting the sugar in Sprite, Fanta and Dr Pepper by up to 30 percent and replacing it with sweeteners

Coca-Cola has been quietly reducing the amount of sugar in some of its biggest drinks.

The company's president and CEO, James Quincey, has revealed that some of the biggest brands, including Sprite, Fanta and Dr Pepper, have all had their sugar content reduced - without affecting sales.

However, this comes on the heels of the soda giant's news last month that it will cut 1,200 corporate staff jobs this year after seeing drops in quarterly profit.

May 18 05:38

Is it time to Panic like 1837?

May 18 01:40

Gregory Mannarino - Price of All Assets is Fake, They Want to Destroy Trump & America

Analyst/trader Gregory Mannarino says, “There is not one asset class, not one, that has a real price discovery mechanism right now. How do we know this is true? The central banks, all of them, are distorting the debt market.

May 17 19:34

SP 500 Futures - Gap Filled Intraday - The Gathering Storm

I imagine a lot of enthusiastic call buyers have just been smoked out of their seats and their June positions.

The tension on the tape the last few days was palpable.  It just took some small event to trigger it giving its overlong duration and extent out of balance.

May 17 19:13

Soros Could Crash US Dollar By Pushing Trump Impeachment

Globalist George Soros, who made billions breaking the British Pound, can profit immensely by fueling turmoil against President Trump which leads to a weakened US dollar he can then bet against – and potentially crash.

May 17 17:36

#Carmageddon Now: Ford to Slash 10% of its Workforce

“According to people briefed on the plan.”

May 17 16:54

Subprime Auto Loans & Fraud

May 17 15:06

Tom Woods Explains Why "Your Facebook Friends Are Wrong About Health Care."

In a new free E-book, best-selling libertarian author Tom Woods explains, "I have no doubt that your Facebook friends are lovely people, but you know and I know they're clueless on health care. Chapter 1 takes you through the story of government involvement in health care and how it's this that your friends -- without realizing it -- are really complaining about. Then I start interviewing real-life physicians -- including one whose cash-only practice cuts costs to consumers by 80 to 90 percent. His strategy? Secede from the government/insurance complex. The book is filled with the kind of history and analysis that -- to say the least -- you won't find in many Facebook threads. Plus: how to cut those health care bills even in the Age of Obamacare..."

May 17 14:30

Dot Com Bubble 2.0 is HERE!

P/E ratios in the current stock market bubble have now nearly reached dot com bubble proportions. This likely means the "dot com 2.0" CRASH is very near. Don't get caught believing that "this time it's different."

May 17 14:24

The Dow Plunges 372 Points As Trump Impeachment Talk Reaches A Fever Pitch On Capitol Hill

The wolves are circling, and members of Congress from both political parties are now openly talking about impeaching President Trump. On Wednesday, speculation of a looming Trump impeachment sent stocks plunging.

May 17 13:27

Is This Bitcoin’s Fatal Flaw?

Bitcon has been rocketing higher lately, as it gains widespread official approval and more people figure out how to use it.

May 17 13:19

What the Heck’s Going on With Cryptocurrencies?

Up 10,000% in 16 months? These charts truly depict our crazy times

May 17 12:57

US Household Debt Surpasses 2008 High, Hits Record $12.7 Trillion

Total debt held by US household reached $12.73 trillion in the first quarter of 2017, finally surpassing its $12.68 trillion peak reached during the recession in 2008 according to the NY Fed's latest quarterly report on household debt. This marked a$479 billion increase from a year ago, and up $149 billion from Q4 2016 after 11 consecutive quarters of growth since the deleveraging period immediately following the Great Recession.

May 17 12:33

Gold Spikes On Heavy Volume On Trump, U.S. Political “Mess”

Gold prices rose for a fifth day to a two week high in early European trading on increasing U.S. political risk pertaining to the Trump Presidency and the increasing risk of impeachment and a U.S. political civil war.

May 17 12:19

Everyone Needs To Start Worrying About The Economic Apocalypse

Retail is imploding on itself, more stores are now declaring bankruptcy, other stores are showing major losses and stores are continually closing. Ford is letting go 10% of employees and these individuals are the salaried personnel.

May 17 11:38

Cannabis & Traumatic Brain Injury

A Promising Approach

A new and promising therapeutic approach points to the positive effects of phytocannabinoids and cannabimimetic drugs, isolated from the Cannabis sativa plant. [5] Research shows that, “Cannabinoids of all classes have the ability to protect neurons from a variety of insults that are believed to underlie delayed neuronal death after traumatic brain injury (TBI), including excitotoxicity, calcium influx, free radical formation, and neuroinflammation.”[6]

http://www.thedailybeast.com/articles/2016/06/17/football-stars-weed-h...

https://www.leafly.com/explore/conditions-ptsd

May 17 11:08

Brick-and-Mortar Meltdown No Problem: Online Retail Startups Shift into Brick-and-Mortar

With a tinge of bitter irony and perhaps desperation.

May 17 10:14

Video: Keiser Report: Belt And Road Initiative

In this episode of the Keiser Report, Max and Stacy ask the trillion-dollar question: what is the Belt and Road Initiative? In the second half, Max interviews Josh Crumb of Goldmoney.com about financialization and how it got us to where we are.

May 17 10:13

WHERE HAVE ALL THE SHOPPERS GONE? Economy In Free Fall?

British shoppers are increasingly seeking bargains to offset rising inflation and employers are finding it harder to recruit migrant workers, according to surveys published on Tuesday which reflected the impact of last year's Brexit vote.

Total retail sales showed their strongest year-on-year growth in six years in April, but the jump largely reflected the timing of the Easter holiday which fell in March last year but in April in 2017, the British Retail Consortium said.

May 17 09:32

Financial Weapons Of Mass Destruction: Top 25 US Banks Have 222 Trillion Dollars Derivatives Exposure

The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives. In other words, the exposure that these banks have to derivatives contracts is approximately equivalent to the gross domestic product of the United States times twelve. As long as stock prices continue to rise and the U.S. economy stays fairly stable, these extremely risky financial weapons of mass destruction will probably not take down our entire financial system. But someday another major crisis will inevitably happen, and when that day arrives the devastation that these financial instruments will cause will be absolutely unprecedented.

May 17 09:31

Look Out! Dow Drops 250 Points; VIX Spikes 28%

The market is getting nervous. The Dow dropped 250 points, and the U.S. dollar is falling, while the so-called fear gauge spiked as political drama continues to surround President Trump and the White House.

Now down 343.

May 17 09:30

New Theory Behind Stalled Economy: Retirees Are Hoarding Too Much Cash

For years we've written about the fact that Americans, young to old, are lousy savers (see "Retirement Crisis Looms As Average U.S. Household Has Saved $2,500 For Retirement"). Of course, they have to be because how else can a mature economy continue to grow unless every single person levers every asset they own to the maximum extent possible and then spends all of that money? Anything less would mean that all of Janet Yellen's efforts have been a colossal waste. Meanwhile, this inherent inability to save is awful news for a nation that faces a massive wave of baby boomer retirements over the next 20 years.

May 17 09:03

State Of Denial: The Economy No Longer Works As It Did In The Past

There’s no Plan B for a state-corporate form of central-planning capitalism that is no longer functioning.

If there is one reality that is denied or obscured by the Status Quo, it is that the economy no longer works as it did in the past. This is the fundamental economic context of our current slide into political-social disintegration.

May 17 08:47

MASSIVE BANK RUN In Canada! - Home Capital Group CRASHES & May Receive Bailout!

Josh Sigurdson talks with author and economic analyst John Sneisen about the continued developing story regarding Home Capital Group as it crashes and burns following massive losses.

May 17 07:50

Cost of congestion for trucking in 2015: 1 billion hours, $63 billion

Traffic congestion on U.S. highways cost the trucking industry $63.4 billion in 2015 due to lost productivity, according to new research by the American Transportation Research Institute released Tuesday. The congestion costs for 2015 grew $13.9 billion from the congestion costs of 2014. ATRI used truck GPS data, along with data from the Federal Highway Administration, to determine that the trucking industry experienced more than 996 million hours of delays in 2015, which is equivalent to 362,243 truck drivers sitting idle for an entire working year. The average cost of congestion for the year was more than $22,000 for a truck that drove 100,000 miles or more.

May 17 07:32

RETIRED GREEN BERET WARNS A SUCCESSFUL DERAILMENT OF TRUMP'S EFFORTS IS WELL UNDER WAY; WAR IS INEVITABLE

With the Republicans in control of both the Senate and the House of Representatives, at this point, the bill to repeal Obamacare should have already passed both houses of Congress and been on the President’s desk to sign: this was not done, and the Republican Party is to blame.

If the President is unable to make a change while he has both houses of Congress under Republican control, what will happen after the Midterm election changes the complexion of Congress and makes it Democrat? How will he be reelected, and if so, to what end? He waited too long to fire Comey…a name that will torment us in the news even more than that of Natalie Holloway…and now it is turning around to bite him. What is the solution?

Webmaster's Commentary: 

There are a number of possible theatres where such a war could start.

But I would like to suggest to President Trump that after 16 consecutive years of war, the American public is both war-weary, and war-skeptical.

I have mentioned many times at this blog, that under President Trump, we will probably see the reinstitution of the draft in this country, for both our young men, and our young women.

But there are some difficult challenges here, and these are, that at this time in its history, the US military doesn't have the weaponry; the money; the manufacturing; or the troop strength to prevail successfully in a conventional war against the most likely opponents, Russia and/or China.

If President Trump does not move to resolve these problems, and quickly, the US military will most likely, lose the next major military conflict because of the issues I have just mentioned.

May 16 16:52

This Blockchain Project is Decentralizing All The Things

In this video, Vin Armani talks with Swarm City contributor Matthew Carano about how they’re building a platform to decentralize everything. They set out to create a decentralized ride-sharing company after their town banned Uber and the project turned into so much more. Find out how it works below:

May 16 16:51

Is Puerto Rico’s Economic Collapse A Ploy By Liberals To Permanently Shift The Balance Of Power In Congress?

Next month, citizens of Puerto Rico are going to vote on statehood, and the absolutely devastating economic collapse that is gripping the island could be enough to push pro-statehood forces over the edge to victory.

May 16 16:50

Central Banks Printed $13.7 Trillion and THIS is What Happened!

Central Banks Printed $13.7 Trillion and THIS is What Happened!

Central banks have made it their mission to support the global economy. This is the result.

central bank money cash currency economy financial economic

May 16 15:57

Fake News and The Lying Mainstream Media Will Tank The Economy With Its Obsession Over Crucifying Trump

Everyone needs to take a deep breath and relax. Trump is not Hitler and nowhere near a threat to our democracy. The checks and balances are in full effect and not under assault.

But you won’t hear that narrative watching the mainstream media and cable news or reading The New York Times or Washington Post.

May 16 15:51

FDA BUDGET INCLUDES MILLIONS FOR PROMOTING GMOS

In a move that was secured because of the government’s desperation to avoid a shutdown, a bill that was passed by the Senate 79 to 18 earlier this month included an allocation of $3 million for the FDA to lead a campaign aimed at “consumer outreach and education regarding agricultural biotechnology.” Though many Democrats attempted to have the measure struck from the bill, senators were unable to remove it and were forced to vote in favor of the entire bill.

Though many Democrats attempted to have the measure struck from the bill, senators were unable to remove it and were forced to vote in favor of the entire bill.

Though $3 million is small in comparison to the Food and Drug Administration’s $2.8 billion budget, people are pointing to the political and moral implications of allowing a government organization to tout the benefits of GMO foods despite scientific evidence that proves otherwise.

Webmaster's Commentary: 

Considering the depth and breadth of government lies about everything else, their support of GMO food (which has been scientifically proven as unsafe for animal, or human consumption,) I am completely unsurprised that those in the bowels of power in the Unhinged, Surveillance States of America, thought lying to the people about the "positive" (non-existent) effects of GMO foods was a good thing.

May 16 15:51

FDA BUDGET INCLUDES MILLIONS FOR PROMOTING GMOS

In a move that was secured because of the government’s desperation to avoid a shutdown, a bill that was passed by the Senate 79 to 18 earlier this month included an allocation of $3 million for the FDA to lead a campaign aimed at “consumer outreach and education regarding agricultural biotechnology.” Though many Democrats attempted to have the measure struck from the bill, senators were unable to remove it and were forced to vote in favor of the entire bill.

Though many Democrats attempted to have the measure struck from the bill, senators were unable to remove it and were forced to vote in favor of the entire bill.

Though $3 million is small in comparison to the Food and Drug Administration’s $2.8 billion budget, people are pointing to the political and moral implications of allowing a government organization to tout the benefits of GMO foods despite scientific evidence that proves otherwise.

Webmaster's Commentary: 

Considering the depth and breadth of government lies about everything else, their support of GMO food (which has been scientifically proven as unsafe for animal, or human consumption,) I am completely unsurprised that those in the bowels of power in the Unhinged, Surveillance States of America, thought lying to the people about the "positive" (non-existent) effects of GMO foods was a good thing.

May 16 15:07

Economic Crisis: 7 Signs that we need to Prepare for a Coming Economic Meltdown

While some are pointing to record stock gains as a sign of a booming economy, the fact is the only thing holding the economy up is hope; hope that the current administration can somehow dig the country out of the mess we’ve found ourselves in. But one look at the numbers is enough to make even the biggest optimist frown.

May 16 14:28

3 Signs U.S. Economy Is Near Tipping Point

Millennials are working less, buying less, and generally contributing less to the economy than previous generations. They aren’t buying homes or cars, and they aren’t making any other large purchases either. All those things translate to a major drag on the national economy.

May 16 14:08

Financial Weapons Of Mass Destruction: The Top 25 U.S. Banks Have 222 Trillion Dollars Of Exposure To Derivatives

The recklessness of the “too big to fail” banks almost doomed them the last time around, but apparently they still haven’t learned from their past mistakes. Today, the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives. In other words, the exposure that these banks have to derivatives contracts is approximately equivalent to the gross domestic product of the United States times twelve. As long as stock prices continue to rise and the U.S. economy stays fairly stable, these extremely risky financial weapons of mass destruction will probably not take down our entire financial system. But someday another major crisis will inevitably happen, and when that day arrives the devastation that these financial instruments will cause will be absolutely unprecedented.

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