ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Oct 21 12:39

Could Fed STOP a Market PANIC?

Oct 21 09:41

EU anti-trust investigators raid BMW headquarters in Munich

EU anti-trust regulators have raided the offices of automaker BMW in Munich, the company said, in a fresh blow to the German car industry already hit by the Dieselgate scandal.

The European Commission, which refused to confirm the company targeted, said it "can confirm that as of October 16, 2017 its officials carried out an unannounced inspection at the premises of a car manufacturer in Germany."

The inspection was related to "concerns that several German car manufacturers may have violated EU antitrust rules that prohibit cartels and restrictive business practices," a statement said.

The commission added that Daimler was cooperating with the commission and could accordingly offer the firm leniency in the case.

"The inspection is linked to complaints against five auto companies that were reported in the media last July," BMW said in a statement that confirmed the raids.

Oct 21 09:38

US May Employ ‘Unconventional’ Tools to Stave Off Recession

The Federal Reserve Chair said that the probability that short-term interest rates may need to be reduced to their effective lower bound is high.

Oct 21 09:09

Why Are Restaurants' Profit Margins So Low?

Oct 21 09:01

AAPL Not Confirming Market’s Higher Highs

Oct 21 08:26

China to ‘Compel’ Saudi Arabia to Trade Oil in Yuan – Ending Petrodollar as World Reserve Currency

The jig is up for the NWO gang that murdered JFK back in 1963 and has run America into the ground ever since.Their day is ending!

This week, a leading economist predicted a major paradigm shift, as Carl Weinberg, chief economist and managing director at High Frequency Economics told CNBC that China will “compel” Saudi Arabia to abandon the petrodollar, and instead, begin trading oil in yuan—a move he says is likely to precipitate the rest of the oil market following suit and abandoning the U.S. dollar as the global reserve currency.

Weinberg noted that China is poised to clearly dominate the global landscape in terms of oil demand since surpassing the U.S. as the “biggest oil importer on the planet,” adding that Saudi Arabia will “pay attention to this because even as much as one or two years from now, Chinese demand will dwarf U.S. demand.”

Oct 20 13:30

Neocon Nikki Haley’s Anti-Iran Rage: Prelude to War?

Neocon Nikki Haley is Trump’s leading administration antagonist, notably on North Korea and Iran. Her hostile early September address on the Islamic Republic before the hawkish American Enterprise Institute preceded Trump’s decertification of the JCPOA nuclear deal – an international treaty the president defied by his action.

Haley’s address was a deplorable litany of beginning-to-end Big Lies. On Wednesday during a Security Council open debate on the Middle East, she was at it again.

Her remarks included a long laundry list of long ago discredited canards.

Washington, Israel, and its sinister AIPAC lobby resent Iranian sovereign independence, its military strength solely for defense – an obstacle to Israeli regional dominance, along with America’s presence.

Were Haley’s hostile Wednesday remarks prelude for initiating diabolical Trump administration plans ahead, including naked aggression against the country – nuclear deal decertification a starter for what’s to come?

Webmaster's Commentary: 

I am sure that Haley's strongest qualifications for the job as Bimbobassador to the UN, was her unswavering, slavish affection for Israel, allowing her to believe that this country can do no wrong, and an absolute, nearly pathological inability to look at facts, and make intelligent conclusions from a review of the facts.

A thinking Ambassador to the UN would be loathe to be condemn both North Korea and Iran for trying to defend their countries, and would be condemning Israel's flagrant collective punishment of the Palestinians; unfortunately, that is not what we have in Ambassador Haley, and the world may suffer terribly from this.

Oct 20 13:12

3 Things The IRS Doesn’t Want You To Know

The Internal Revenue Service’s (IRS) website at https://www.irs.gov has a staggering 118,000 pages. And you’d think with that much information available for public consumption, keeping things hidden would be a virtual impossibility. After all, we’re talking about the IRS here, not the CIA (note: you did not read that…or this).

Oct 20 11:33

Catalonia crisis: Spain moves to suspend autonomy

Spain is to start suspending Catalonia's autonomy from Saturday, as the region's leader threatens to declare independence.
The government said ministers would meet to activate Article 155 of the constitution, allowing it to take over running of the region.
Catalonia's leader said the region's parliament would vote on independence if Spain continued "repression".

A referendum outlawed by Spain was held earlier this month.
Of the 43% who voted, 90% were in favour of independence.
Some fear the latest moves could spark further unrest after mass demonstrations before and since the ballot on 1 October.

Spain's supreme court declared the vote illegal and said it violated the constitution, which describes the country as indivisible.
Article 155 of the constitution, which cemented democratic rule three years after the death of dictator General Francisco Franco in 1975, allows Madrid to impose direct rule in a crisis but it has never been invoked

Webmaster's Commentary: 

Prime Minister Rajoy seems hell-bent on creating a 2nd civil war in Spain; one has to wonder if NATO troops will be sent to Calalonia as "peace keepers.", under these conditions.

The other thing Prime Minister Rajoy seems to utterly ignore are the optics of such a move.

Spain is a signatory to the UN Charter, and in the UN Charter is enshrined the right to peaceful self-determination. Rajoy needs to remember this, in crushing the Catalonian movement.

And if Prime Minister Rajoy is determined to suppress the heretofore peaceful Catalonian independence movement, does that not compel Spain to do a "Sprexit" from the UN on this issue?!?

Think it through, Prime Minister, think it through!!

Oct 20 11:29

6 YEARS AGO TODAY, THE US HELPED MURDER GADDAFI TO STOP THE CREATION OF GOLD-BACKED CURRENCY

Six years ago today, the West took it upon itself to use NATO to overthrow Libyan leader Muammar al-Gaddafi — not for any humanitarian threat to civilians as had been repeatedly claimed — but because his planned roll-out of a new currency to be used across Africa posed a palpable existential threat to central banks at the heart of the Western financial and political system.

Long theorized to be the actual vehicle for Gaddafi’s downfall, the gold dinar-based, pan-African currency motive came to light in nascent 2016 in one of more than 3,000 of Hillary Clinton’s emails released by the State Department — conveniently timed with the New Year’s holiday to abate outrage or repercussions.

Webmaster's Commentary: 

"We Came, We Saw, He Died!!" Thus cackled Clinton upon hearing of Ghadaffi's execution.

And we can see just how stabizing THAT was for Lybia, now factionalized in a bloody civil war, which is tearing the country apart, 6 years on.

Oct 20 10:27

Peter Schiff Warns Of "Calm Before The Storm"

Oct 20 09:58

Millions Of Americans Are Still Sharing Apartments And You're Worried About A Bubble?

Though the number of apartments under construction has reached a cyclical high, fears of an approaching bubble may be premature.

Those wary of the impact on fundamentals of 480,000 units under construction this year can be assuaged by the fact that apartment demand in the U.S. is still exorbitant
***
The trend of shared housing indicates how burdened renters are.>>>

Oct 20 09:50

There's now a clear reason why September's jobs report was terrible

strong>>State-level data on employment in September shows that Florida's jobs market suffered the most from recent hurricanes.
>The jobs report last month showed that net nonfarm payrolls were negative for the first time in seven years.
>The October jobs report may also be weak, as hiring may not have gained enough momentum by last week, when the monthly survey was conducted.

Oct 20 09:48

HARTFORD COULD DEFAULT ON ITS DEBT AS SOON AS NEXT MONTH, MOODY'S SAYS

Moody’s latest warning about Hartford Connecticut is its most dire yet.

In a report issued Thursday, the ratings agency’s analysts said Hartford, Connecticut’s once-proud capital city, could default on its debt as soon as next month, forcing the capital of the country’s wealthiest state (on a per capita basis) into bankruptcy.

If the city doesn’t change course (and given its shrinking tax base and the departure last year of Aetna, a major insurance company that was founded in Hartford and had located its headquarters in the city for more than 150 years, reforms appear unlikely), receive a state bailout or strike some kind of deal with its creditors, Moody’s says lenders can expect it to run up annual deficits in excess of $60 million through the next 20 years.

Webmaster's Commentary: 

Hartford may well represent the first wave of an economic "domino effect" for cities, and states, across this country, where the financial stewardship has been reckless and unbalanced to the degree where they may well find themselves in default, and very soon.

Oct 20 09:44

31 Hanford workers test positive for radioactive contamination

Thirty-one Hanford nuclear reservation workers inhaled very small amounts of radioactive material after a take-cover order for a contamination spread June 8.

An alarm sounded that morning at the Plutonium Finishing Plant when airborne radioactive contamination was detected as open-air demolition using heavy equipment was being done. Work was underway at the most contaminated part of the plant.

Initially, workers were not believed to be at risk because no contamination was found on the skin or protective clothing of workers, but employees were offered testing for internal contamination as a precaution.

But concerns increased when some of the initial tests showed contamination. Then Washington Department of Health air sampling results came back in August showing radioactive plutonium and americium particles in very low levels at the Rattlesnake security barricade three miles from the plant.

Webmaster's Commentary: 

It appears to me that Washngton's nuclear industry is not at all taking care of the people who work for it, or have been doing it in a very haphazard, cavalier kind of way, pushing back on costs by not giving them the basic protection to prevent exposure, plus protection for the people who live around the areas where such plants exist.

Cancers and other diseases this exposure may generate later in life for these people indicates that they have a very solid class action lawsuit against the State for allowing this exposure in the first place.

Oct 20 08:28

Misco UK plunges into administration – around 300 jobs lost at Northamptonshire-based firm

AROUND 300 jobs have been lost at the UK arm of computer reseller Misco after the operation plunged into administration.

Oct 20 08:27

REVEALED: The EU's £450TRILLION derivative market

THE European Union (EU) has more than £450TRILLION of exposure to derivatives - the investments that underpinned the financial crisis, it has been revealed.

The scale of the derivatives market has been laid bare for the first time in en effort to avoid a devastating repeat of the 2009 market crash by the Paris-based European Securities and Markets Authority (ESMA).

Oct 20 07:52

Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From ATMs On Friday Morning

As tensions escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Madrid where it really hurts.

In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches between 8 am and 9am Friday to protest at their decision to shift their legal domiciles out of the region...

Oct 20 07:52

Fear of Heights – Vertical Markets

Oct 20 07:35

ScotiaMocatta Put For Sale After Multibillion Money-Laundering Scandal

The world's oldest gold trader is for sale after a massive money laundering scandal may have terminally crippled one of the most iconic names in the business.

Canada’s Bank of Nova Scotia is exploring options for its gold business ScotiaMocatta, the Financial Times reported, which include a possible sale of Canada's most popular precious metals trader. Scotiabank made a decision to sell ScotiaMocatta following a massive money laundering scandal centered on a U.S. refinery that involved smuggled gold from South America. The ScotiaMocatta business, a mainstay in PM trading, is one of London’s main gold trading banks and is being sold by JPMorgan.

Oct 20 06:55

Countries Bringing Their Gold Back Home

Oct 19 17:57

A 52-“Weak” High For Stocks?

While the S&P 500 his on an impressive string of new highs, a number of them have come on questionable breadth.

Oct 19 15:16

Growing Debt: India and China

Oct 19 14:43

EDGE OF THE CLIFF

Oct 19 13:24

The GAME CHANGER for Gold

Oct 19 13:06

Very Long Term Gold Chart Priced In Dollars

Oct 19 12:06

Ray Dalio’s Shorting The Entire EU

Oct 19 11:40

How This Bull Market Ends

Oct 19 10:37

Why it’s time to buy Russian stocks

Oct 19 10:22

GDP Is Bogus: Here's Why

Oct 19 09:33

Barzani's Failed Kurdistan Project: A Deathblow To The Partition Of Iraq And Syria

The project to divide Iraq was dealt a deathblow by a decision of the Iraqi Prime Minister Haider Abadi to send the Army and the security forces to recover all Iraqi territories controlled by the Kurds of Massoud Barzani. The Kurdish leader was riding the horse of Iraqi partition (in fact, a lame horse) to establish a Kurdish state in the northern part of the country. Following the failure of Barzani’s project in taking advantage of the fight against ISIS and therefore declaring his “state”, every country in the Middle East is abandoning him because no one likes to be associated with failure.

Barzani sent envoys (I personally met some) around the globe who returned with apparently promising results: “over 80 countries promised to recognise the new State of Kurdistan”. These promises turned out to be false (“no friends but the mountains”), other (existing) political alliances turned out to be stronger and Barzani was left alone with his empty promises and unreliable advisers.

Oct 19 09:33

"It's An Utter Mess" - Paul Craig Roberts Warns The Biggest Danger To Stocks Is The Dollar

Former Assistant Treasury Secretary in the Reagan Administration, Dr. Paul Craig Roberts, says the record highs you see in the stock markets are based on “phony profits” that come from global central banks “propping up” the financial system.

Oct 19 09:21

BofA Lists 10 Triggers For The Next Crash: "It's Coming Between Thanksgiving And Valentine's Day"

Back in mid-July, BofA's chief investment strategist Michael Hartnett predicted that the "most dangerous moment for market will come in 3 or 4 months." Well, we are now "between 3 and 4" months since that particular forecast was made, and the "most dangerous moment" we have experienced since, ironically, has been today's modest selloff on the 30 year anniversary of Black Monday. So looking back at his forecast, has Hartnett thrown in the towel on calls for a correction, and joined all the other BTFDers? Not quite: instead, Hartnett's thesis has merely shifted, and he now contends that having entered the market's melt up somewhat late, a bubble which as shown before has unleashed raging purchases of tech stocks and credit, especially junk bonds.

Webmaster's Commentary: 

IF Harknett's analysis proves true... watch for the next major wars to be generated by the United States government to begin in approximately this same time frame also.

We're just about 6 weeks away from Thanksgiving right now........

Oct 19 08:40

Trey Gowdy Laughs as He Reveals the Country is COMPLETELY SCREWED Financially!

Oct 19 08:25

Norwegian Firm Signs $2.9bn Solar Deal with Iran

Norway’s Saga Energy has signed a 2.5 billion-euro ($2.94 billion) deal to build solar power plants in Iran, the company said.

Saga inked the preliminary agreement with Iran’s state-owned Amin Energy Developers on Tuesday.

The deal would see the construction over a four- to five-year period of 2 gigawatts of power generation capacity, Saga Energy spokesman Rune Haaland said, Reuters reported on Wednesday.

The company will rely on banks, pension funds and Norwegian state export guarantees to fund the plan, and aims to recoup its investment through a 25-year deal on electricity prices, he added.

Oct 19 08:10

Strangely enough, Vanuatu proves why Bitcoin can never be banned

Vanuatu is one of several nations that offers citizenship to foreigners in exchange for making an ‘investment’ in the country.

Malta. Cyprus. Saint Kitts & Nevis. Etc. These countries all offer what are known as ‘citizenship by investment’ programs.

(And dozens of countries, including the United States, offer ‘residency by investment’ programs, where foreigners receive legal residency in exchange for an investment.)

As I’ve written before, however, sometimes these programs would be more accurately described as ‘citizenship-by-donation’.

Because, in many cases, you’re not really making an investment. You’re just writing a big check to the government.

Oct 19 07:57

THE PROBLEM COULDN’T BE CLEARER

Oct 19 07:51

USA will perish if China turns to European Union

"I believe that all those American sanctions against Russia do not actually target Russia, even though it may sound strange. Let's assume that all the sanctions that were allegedly imposed on Russia under the pretexts of the Crimea and the Donbass, are primarily aimed against the European Union and the countries that cooperate with it closely. Those sanctions are important for the Americans. First of all, it is the EU that poses the biggest potential threat for the United States within the scope of the current production system, when the design bureau is in the United States of America, and the factory is in the People's Republic of China. If the Chinese switch to cooperation with European developers, the Americans will have to pay the full price for what they receive from China. Today, the Americans receive royalties from the Chinese for the right to produce what the Americans develop, and these royalties cover almost the entire cost of Chinese supplies to the United States.

Oct 19 07:33

Spain and Catalonia set for showdown over independence bid

Catalonia is facing an unprecedented move by Madrid to seek a suspension of the region's autonomy this morning, unless separatist leader Carles Puigdemont abandons his bid for independence

Mr Puigdemont, who sparked Spain's worst political crisis in decades by holding a banned independence referendum on October 1, has been ordered by Madrid to say by 10.00 am (9am BST) whether or not he is unilaterally declaring a split from Spain.

The government of Prime Minister Mariano Rajoy says it will trigger Article 155 of Spain's constitution - a measure that would allow it to start imposing direct rule over semi-autonomous Catalonia - unless Mr Puigdemont backs down.

Webmaster's Commentary: 

Spanish Prime Minister Mariano Rajoy is settng the stage for a second Spanish civil war.

I very seriously doubt that Mr Puigdemont, and his brother and sister Catalonians, are going to back down here, and things could get very brutal, with a Spanish introduction of complete martial law in the area.

Oct 18 18:13

Why This Market Ride Is Almost Over

Oct 18 17:51

The Arc of the Moral Universe

This next bubble and crash cycle is going to put a tear in the social fabric, and may even leave a mark.   The natives are clearly getting restless and their sahibs may be in danger of losing control.

Oct 18 16:39

DE-LEVERAGE your finances or lose everything!

Oct 18 15:53

DE-LEVERAGE your finances or lose everything!

Oct 18 15:05

Bubble-nomics

Oct 18 13:07

Silver Bullion Prices Set to Soar

Oct 18 11:25

Democrats Used To Be The Party Of Slavery: Doug Schoen Pushes The Case For Keeping The Democratic Party Allied With Wall Street

Doug Schoen, a former consultant to Bill Clinton, argued the case that the Democrats should keep their ties to Wall Street in a NYT column this morning. While he does advance his argument with some red-baiting and bad logic, he uses tradition as a starting point.

Oct 18 10:29

Airbus Takes On Boeing By Striking Deal For Bombardier Ownership Stake

Boeing's battle to crush Bombardier has encountered an unexpected obstacle.

Bloomberg reports that Airbus SE has agreed to acquire a majority stake in Bombardier Inc.’s C Series program, which the Commerce Department slapped with a 300% tariff it ruled in Boeing’s favor in a complaint alleging Bombardier had benefited from anti-competitive government subsidies.

Under the terms of the deal, Airbus won’t pay a dime up front for the C-Series, but will begin assembling the technologically advanced by poor-selling jetliner in the US in what Bloomberg said could be an effort to circumvent the tariffs. Airbus is adding another final assembly line for the C-Series at its factory in Mobile, Alabama, which will serve US customers and complement production in Canada, according to a company statement late Monday. However, Bloomberg says it’s unclear if the deal will allow the C-Series to avoid the tariffs.

Oct 18 10:19

US ARMY IS PREPARING FOR DECADES OF HYBRID WARS

Released on Monday, the US Army’s Training and Doctrine Command, or TRADOC, drafted a new strategy for how US ground forces will operate, fight, and campaign successfully across multiple domains—space, cyberspace, air, land, maritime—against all enemies in the 2025-2040 timeframe.

The new strategy calls for “super-empowered individuals and small groups”, who are mobile and can simultaneously fight in every domain of warfare, which will replace the conventional large units like today.

Since the end of the Cold War, US and Joint Forces have enjoyed considerable amounts of freedom across all domains. The purpose of this new concept is to prepare the US for an increasing number of actors who challenge US global hegemony.

The reported titled “Multi-Domain Battle: Evolution of Combined Arms for the 21st Century, 2025-2040?, repeats one key point over and over again according to Defense One.

Webmaster's Commentary: 

So we are looking at perpetual, global war to maintain economic hegemony, no matter the moral and financial costs to this country?

Beam me up, Scotty; no intelligent life here!!

Oct 18 09:23

Silver Bullion Prices Set to Soar

Silver bullion prices are expected to jump as solar and smartphone demand rises and the Fed tries to stave off economic weakness

by Myra Saefong via Barrons

Gold prices have far outpaced gains in silver so far this year, but silver will emerge as the winner for the second year in a row.

With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages. “Silver is definitely undervalued compared to gold and as a stand-alone investment. I consider it likely to be the most undervalued asset in the general investment markets,” says Paul Mladjenovic, author of Precious Metals Investing For Dummies.

Oct 18 09:09

EU says 1mn refugees in Turkey receive cash assistance

An EU-funded project that provides cash assistance to vulnerable refugee families in Turkey has benefitted one million asylum seekers since it was launched a year ago, according to officials. The program supplies debit cards to the most disadvantaged families, allowing them to buy food and meet other needs.

Oct 18 08:57

America's Global Dishonesty Will End the $US as a Reserve Currency

"Washington, instead of operating a fair system, uses its world currency role to dominate other countries. Russia and China are too strong to be dominated, and, thus, are throwing off the dollar system."

Oct 18 08:33

Corporate Consolidation: Last Week Tonight with John Oliver (HBO)

Oct 18 08:11

Chicago Politician Pushes Ban On Businesses Banning Cash

In July, Visa officially entered the global 'war on cash', adding to a long list of academics, elites, and bankers urging the removal of one of the last freedoms 'for the good of the rest of us'. However, if Alderman Edward Burke has his way, that 'war on cash' will end in Chicago after he submitted an ordinance at last week's City Council meeting to ban businesses from banning cash.

Oct 18 08:08

Europe’s Economic Death Spiral

Oct 17 18:17

Sainsbury's AXES 2,000 jobs in £500m cost-cutting drive

Payroll and human resources roles will be axed across the stores as the company tries to make huge savings and fund a price war with other retailers

Sainsbury’s confirmed today that it had launched a consultation on the plans, which are expected to affect around 1,400 staff.

It will also restructure its central office operations across the grocery chain, Argos and Sainsbury's Bank, which could see another 600 roles axed.

Oct 17 16:32

George Soros foundations now control $18 billion: reports

Investor George Soros has transferred about $18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday. The foundations already controlled billions of dollars, but Soros, 87, has in recent years increased the pace of transfers from his hedge fund-turned-family office, Soros Fund Management LLC, the Wall Street Journal and the New York Times reported earlier on Tuesday, citing Open Society officials.

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