ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Feb 29 07:03

Ted Butler: Bear Stearns Déjà vu?

Feb 29 05:08

$5 TRILLION WIPED OUT FROM WORLD STOCKS AMID FASTEST COLLAPSE IN HISTORY

SOURCE: ZERO HEDGE
MSCI World Stocks collapsed from a record high into 'correction' in just five days.

The plunge in global equities has wiped out more than $5 trillion in value, or equivalent to nearly Japan's annual GDP.

Feb 29 04:51

THE TRILATERAL COMMISSION: USING CRISIS AS AN OPPORTUNITY TO REFORM

SOURCE: STEVEN GUINNESS
A couple of years ago I posted an article that gave a brief overview of the Trilateral Commission, quoting directly from numerous former members of the institution and how their overarching goal was for the integration of nation states at the expense of self determination.

As noted in the brochure, one of the purposes of creating the Trilateral Commission back in 1973 was to ‘buttress a beleaguered trading order.’ When considering the rise in political protectionism, trade is at the forefront of the discussion. As well as the future trading relationship between the UK and the EU, and the ongoing trade conflict between the U.S. and China, there is now the added element of the Coronavirus which threatens to restrict global supply chains. Taken together, it is a melting pot of developing crises.

Webmaster's Commentary: 

In our world, there is only one, count them, ONE set of "Contracts with America"; they are called the Constitution and Bill of Rights, period, end of discussion.

Feb 29 04:14

"They're Really, Really Suffering": Chinatowns Worldwide Experience Devastation As Business Grinds To A Halt

It's not just in China where the effects of the novel coronavirus are being felt - it's in Chinatowns situated worldwide. Fear is gripping people around the world and, coupled with the uncertainty that is inevitable with the WHO and world leaders dragging their feet, it is keeping people out of Chinese businesses.

As Chinese citizens of other countries try to go about business as usual in the midst of what is likely a growing pandemic, business is collapsing. Lily Zhou's Chinese restaurant in Australia, for instance, has seen business fall 70%, according to Bloomberg. It now has a board out front where “The restaurant has been sanitized!” is written in Chinese.

Zhou says at this rate, she can only stay in business "at most three months".

Feb 29 03:58

Why The Coming Economic Collapse Will NOT Be Caused By Corona Virus

With Monday’s 1000 point stock market plunge the internet has been set ablaze with discussion of a new crash looming on the horizon. The fact that such a chain reaction collapse was only kept at bay due to massive liquidity injections by the Federal Reserve’s overnight repo loans should not be ignored. These injections which began in September 2019, have grown to over $100 billion per night… all that to support the largest financial bubble in human history with global derivatives estimated at $1.2 quadrillion (20 times the global GDP!).

Sadly economic illiteracy is so pervasive among today’s modern economists that the real reasons for this crisis have been entirely misdiagnosed with financial experts from CNN, to Forbes blaming the volatility on the spread of the Corona virus!

Feb 28 14:29

Funds will be cut off immediately

Feb 28 14:25

Panic buying across the US strips store shelves bare amid coronavirus stockpiling as one woman turns her basement into a 'supermarket' and a man buys a YEAR's supply of food

Supermarket shelves are starting to be stripped bare as Americans prepare for the spread of coronavirus

People have been panic buying items ever since health authorities warned that Americans should start preparing for domestic acceleration of the virus

Supplies have been flying off the shelves with people posting photos on social media showing the lack of products available in some stores and pharmacies

In California, some Walgreens stores had been completely depleted of cough medicines, cold and flue medications, vaporizers, masks and thermometers
Shoppers in Hawaii were buying up flatbeds of canned goods, bottled water, toilet paper and paper towels from a local Costco

A supermarket aisle in Virginia had been stripped of non-perishables like pasta

U.S. stock indexes fell sharply again at the open on Friday as the coronavirus outbreak raised the alarm for a possible global recession

Webmaster's Commentary: 

Mike and I got down to our local Big Box store this morning, to make sure that we were getting everything we needed to survive for awhile without going out, if quarantines get put in place, or if roadblocks were put up to prevent travel to, or from, areas where the pandemic hits hard.

Feb 28 13:19

US Defences Are Incapable of Intercepting Russian, Chinese Missiles, Navy Admiral Admits

The statement was made during a hearing devoted to the US plans to modernise American weapons and to possible ways the US can respond to the new cutting-edge weapons Russia rolled out in last two years.

US Navy Admiral Charles Richard has admitted that existing American air defences were not designed to counter modern hypersonic glide weapons, like the one recently deployed by Russia, and currently developed by China, and hence these weapons "challenge" the US, during an open hearing at the US House Subcommittee on Strategic Forces. He added that the Pentagon even has trouble determining the capabilities of modern weapons, although it still can make a reliable guess on what threat these weapons pose.

Webmaster's Commentary: 

So let me get my head wrapped around this; for all the money spent, the US military is still behind the proverbial 8-ball when it comes to weapons development which should be AT LEAST a step ahead of what Russia and China are producing right now?!?

For all the money US taxpayers have forked out to prevent this, it is still, apparently, happening; there should be a public hearing as to why this has happened, and the heads of those companies which have screwed US taxpayers out of the best weapons systems in the world (which we should, absolutely, have by now, with what has been spent on these systems) should be hard time in a non-club Fed prison for a form of treason against the people of the US, not to mention its military.

Draconian?!? Absolutely.

But it will possibly "cure the problem"?!?

I strongly believe that the short answer is, "HELL, yes!!"

Feb 28 13:05

Could the Covid-19 Pandemic Collapse the U.S. Healthcare System?

Disregard these second-order effects at your own peril.

A great many systems that are assumed to be robust are actually fragile. Exhibit #1 is the global financial system, of course, but Exhibit #2 may well be the healthcare system globally and in the U.S.

Observers have noted that the number of available beds in U.S. hospitals is modest compared to the potential demands of a pandemic, and others have wondered who will pay the astronomical bills that will be presented to those who are treated for severe cases of Covid-19, as the U.S. system routinely generates bills of $100,000 and up for a few days in a hospital. Costs of $250,000 or more per patient for weeks of intensive care treating Covid-19 cannot be dismissed as "impossible."

Webmaster's Commentary: 

That last paragraph scares the stuffing out of me, and should do the same for you as well.

Please see your health care practitioner now, to determine if there is any immune-system deficiency; then, you are going to have to educate yourself about how you keep your immune system healthy, if the health care system breaks down in this country utterly.

Knowledge is power; and now may well be the time for acquiring that power for yourself.

Feb 28 12:20

Coronavirus outbreak meets another pandemic cat bond trigger condition

The spreading global outbreak of the novel coronavirus (2019-nCoV or Covid-19) has now met another of the conditions within the trigger mechanism of the World Bank’s pandemic catastrophe bond transaction, raising the chance that noteholders face losses in the coming weeks.

coronavirus-cat-bond-china: As we have explained, the novel coronavirus (2019-nCoV or Covid-19) outbreak that began in the city of Wuhan in Hubei province China poses a threat to the World Bank’s $320 million IBRD CAR 111-112 pandemic catastrophe bond transaction that provides a source of insurance or reinsurance capital to back the Pandemic Emergency Financing Facility (PEF).

The coronavirus outbreak has the potential to become an eligible event under the terms of the World Bank’s pandemic catastrophe bond notes that provide insurance or reinsurance like capacity to back a pandemic financing facility.

Webmaster's Commentary: 

Next week could potentially be one of the worst week ever, for financial houses; stocks; and bonds.

Feb 28 11:56

Hyundai halts work at Korean plant after worker tests positive for coronavirus

SEOUL -- Hyundai Motor shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus.

The factory in Ulsan builds the Palisade, Tucson, Santa Fe and Genesis GV80 crossovers.

The closing dealt a fresh setback to Hyundai, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.

South Korea has the most infected people outside China, affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022, as the world prepared for a global recession.

"The company has also placed colleagues who came in close contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection," Hyundai Motor said in a news release.

The automaker said it was disinfecting the factory. It did not say when production would resume.

Webmaster's Commentary: 

To those brother and sister Americans who have not yet figured that this is going to be a world-altering event, please think again.

IF you have not prepped yet, now might not be a bad time to go to your local big box store, and stock up on essentials; potable water; water filters; medications; storable food; ways to cook if the grid goes down; disinfectant; and soaps.

No one wants to think about a pandemic of this magnitude causing world commerce to come to an horrific crawl, but crawl it will, if borders become shut, and goods stop getting shipped; and yes, now is the time to think about this, before what you want or need to buy to protect yourself and/or your family, is no longer available.

Feb 28 11:28

$5 Trillion Wiped Out From World Stocks Amid Fastest Collapse In History

MSCI World Stocks collapsed from a record high into 'correction' in just five days.

The plunge in global equities has wiped out more than $5 trillion in value, or equivalent to nearly Japan's annual GDP.

On Thursday afternoon, Guggenheim's Scott Minerd said, "this is possibly the worst thing I have seen in my career... it's hard to imagine a scenario in which you can contain the virus threat," adding that "Europe and China are probably already in recession and US GDP will take a 1.5-2.0% hit."

Feb 28 10:18

The Great Melt-up Melt Down

Feb 28 10:12

4 Reasons Why Socialism Fails

he new “democratic socialists” want to make their followers believe that one could redistribute wealth and income and socialize a large part of the economy without harming production and productivity. They claim that a comprehensive control of the economy by the government would bring more justice and more prosperity. The democratic socialists want more planning and less market. Yet this postulate ignores that socialism does not fail by accident or circumstance. Socialism fails because it suffers from four fundamental design defects.

First, socialism eradicates private property and markets and thus eliminates rational calculation.
Second, socialism allows soft budgets, so there is no mechanism in place to discard inefficient production methods.
Third, abolishing private property and replacing it by the state distorts the incentives.

Feb 28 09:10

Britain bought a record amount of Russian gold last year, spending over $5 BILLION

According to customs data seen by RBC business news outlet, gold exports to Britain have grown more than 12 times in terms of value, to $5.33 billion.

Supplies to the UK accounted for 93 percent of all Russian gold exports. Twelve other countries, including Kazakhstan and Switzerland, bought only $409 million-worth of Russian gold.

In physical terms, gold exports from Russia to the United Kingdom in 2019 increased 11 times, from 10.4 tons to 113.5 tons.

Almost the entire volume of deliveries to the UK is gold bullion. Taking into the account the London standard (an ingot weighing about 12.5 kg), it turns out that Russia delivered at least 9,000 ingots to the UK last year.

Feb 28 07:42

The American Hybrid War on China

China is already the key hub of the global economy and the leading trade partner of nearly 130 nations.

While the U.S. economy is hollowed out, and the casino financing of the U.S. government – repo markets and all – reads as a dystopian nightmare, the civilization-state steps ahead in myriad areas of technological research, not least because of Made in China 2025.

Feb 28 05:42

Hyundai halts work at Korean plant after worker tests positive for coronavirus

SEOUL -- Hyundai Motor shut down a factory in South Korea on Friday after a worker tested positive for the new coronavirus.

The factory in Ulsan builds the Palisade, Tucson, Santa Fe and Genesis GV80 crossovers.

The closing dealt a fresh setback to Hyundai, which has gradually resumed production at local plants hit by a Chinese parts shortage in the wake of the virus outbreak.

South Korea has the most infected people outside China, affecting companies like Samsung and Hyundai. South Korea on Friday reported 256 new cases, bringing the total number of infected to 2,022, as the world prepared for a global recession.

"The company has also placed colleagues who came in close contact with the infected employee in self-quarantine and taken steps to have them tested for possible infection," Hyundai Motor said in a news release.

The automaker said it was disinfecting the factory. It did not say when production would resume.

Webmaster's Commentary: 

To those who have not, yet, been to a local "big box retailer", to pick up some essentials, for when the global economy grinds to a crawl, or complete halt, and before those big box retailers are out of essentials, I would politely suggest carving out some time to do this, and right the hell now.

Feb 28 05:37

Stock market live updates: Dow drops 1190 points amid coronavirus fears, S&P 500 sees fastest correction in history

Global financial markets plunged for the sixth consecutive day on Thursday, with coronavirus fears shaving over 1,100 points off the Dow (^DJI) — its biggest in history — and sending the S&P 500 (^GSPC) swooning to its fastest-ever correction.

“Global markets were down $1.83 trillion today, with the U.S. down $1.33 trillion,“ S&P Dow Jones’ Howard Silverblatt said in an email. He added that over the past six days, global markets erased $6 trillion in wealth with U.S. markets losing $4 trillion.

Investors took fright amid the first coronavirus case in the U.S. involving a person who didn’t travel to an infected country and didn’t knowingly interact with someone who did. Meanwhile, California’s governor said the state is monitoring more than 8,400 people who could possibly have the virus.

Feb 28 05:31

The new burger chef makes $3 an hour and never goes home. (It’s a robot)

In a test kitchen in a corner building in downtown Pasadena, Flippy the robot grabbed a fryer basket full of chicken fingers, plunged it into hot oil — its sensors told it exactly how hot — then lifted, drained and dumped maximally tender tenders into a waiting hopper.

A few feet away, another Flippy eyed a beef patty sizzling on a griddle. With its camera eyes feeding pixels to a machine vision brain, it waited until the beef hit the right shade of brown, then smoothly slipped its spatula hand under the burger and plopped it onto a tray.

The product of decades of research in robotics and machine learning, Flippy represents a synthesis of motors, sensors, chips and processing power that wasn’t possible until recently.

Webmaster's Commentary: 

Sorry, folks; but this where the "fight for $15 dollars an hour", in the food service industry, was always headed; it just got here a little earlier than many anticipated.

Feb 28 05:22

The Fix Is In: Overseeing the Payouts to Boeing Crash Victims’ Families: The Appointment of Kenneth Feinberg

Feinberg played a similar role when he was selected in July 2019 to head the $50 million Boeing Financial Assistance Fund. In that role, he oversaw payments of a mere $144,500 to each family that lost a loved one on either the crash of Lion Air Flight 610 in October 2018 outside of Jakarta, Indonesia or Ethiopian Airlines Flight 302 in March 2019 near Addis Ababa, Ethiopia.

In total, Boeing has pledged only $100 million to compensate the crash victims’ families and neighborhoods for putting their friends and relatives on the deadly Max 8 jets. For comparison, the company reported revenues of $76.6 billion in 2019 and has pledged to pay airlines at least $5 billion for their lost profits resulting from the two crashes. To date, no executives at the company or regulators at the Federal Aviation Administration, which were all aware of the deadly flaws in the Max 8, have been prosecuted or even charged for the murder of the 346 men, women and children who were killed.

Webmaster's Commentary: 

Sounds as though Boeing execs knew precisely what they were doing here; the guy is a corporate "fixer", par excellence.

The man's mantra is "Screw the victims; protect the corporations which hire me.", which is a very attractive, comforting credo to all those who have hired, and will hire, this guy, or people like him, in the future.

He is one of many in the "dark underbelly" of American corporate power, and most assuredly has has his conscience surgically removed, before he began his quest for personal profits at the expense of people who have been,and will continue, to be marginalized by major corporations which have failed both their stock-holders, by pushing inferior, death-inducing products, as well as the American people, who trusted these corporations with their lives, and the lives of their families.

Feb 28 04:39

Eurozone crisis: Merkel faces turmoil as Germany forecast to plunge into deep recession

The coronavirus outbreak has seen financial markets around the world tumbling once again yesterday. The Dow Jones index saw its biggest one-day points loss in history, losing 1191. It’s down 9.7 percent so far this week, which is the worst week since the financial crisis. Mohamed El-Erian, one of the world’s most famous investors and now Chief Economic Adviser for financial services company Allianz, spoke to the BBC’s Today show about the further impact that the crisis could have on world markets, predicting some bad news for Angela Merkel’s German economy.

Feb 28 03:57

Donald Trump's Erratic Foreign Policy Is a Failure

One of the most memorable parts of the 2020 State of the Union was President Trump’s surprise reunification of a military family. “For the past seven months, her husband, Sgt. 1st Class Townsend Williams, has been in Afghanistan on his fourth deployment,” the president said, introducing Amy Williams and her two young children before revealing to thunderous applause that Sgt. Williams was present in the House chamber. A happy moment, but why shouldn’t all military families experience the same joy?

Reuniting one family is good, but what about the tens of thousands of other families still separated by wars Trump could end at any moment? The president talks a good talk about ending “endless wars,” to use a phrase from last year’s SOTU, but he has failed to extricate the United States from a single conflict. The incongruity is indefensible.

Feb 28 03:55

Beyond Israeli Elections: Israel at the Cusp of a Bleak Era

Israeli Prime Minister, Benjamin Netanyahu, must be channeling the spirit of Houdini as he continues to plot his escape from one of the most convoluted political dilemmas in Israel’s history.

It is no secret that Netanyahu’s political behavior is almost entirely shaped by his desire to survive in office for as long as possible in order to avoid possible jail time. But how long will the Israeli escape artist manage to survive, now that a date for his trial has already been set?

After months of bargaining with the country’s political elite, on one hand, and pleading to his own right-wing constituency on the other, Netanyahu has failed to create the necessary momentum that would render him immune from prosecution and secure his position at the helm of Israeli politics.

After failing to form a government following the April elections, Netanyahu has masterfully linked his fate as a Prime Minister to all of Israel’s affairs, internal and external.

Webmaster's Commentary: 

This is why Netanyahu desperately needs a "misdirection", to deflect Israeli anger at his failure to deliver a government twice, not to mention his upcoming corruption trial.

The man is certainly not above creating a "false flag" in order to do this, let's say, creating a false flag strike against Saudi and US military personnel in Saudi Arabia, then blaming it on Iran.

Israeli elections start this Monday, and trust me; the man will do everything in his power, to stay in power, and present himself as "untouchable" in these ongoing corruption investigations.

The big question for Israeli voters is, how much is he actually willing to risk in terms of Israel's security, in order to attempt to pull something like this off?!?

I must tell you, I wouldn't want to have to be an Israeli voter, pondering that question right now.

Feb 27 20:47

Travel Related Stocks: Premium Price List

Feb 27 13:59

Corporate Profits to Decline into 2021?

Feb 27 13:16

US must withdraw sanctions so Iran can combat coronavirus: Analyst

The United States Treasury Department on Thursday granted a license to allow for certain humanitarian trade transactions with Iran’s sanctioned central bank, a move it said was in step with the formalization of a Swiss humanitarian aid channel, according to Reuters.

The Treasury said the newly created channel became fully operational on Thursday as it granted the license, saying that it would allow for companies to send food, medicine and other critical supplies to Iran.

Feb 27 10:38

The Age of Treason: 1958 Book Exposes Chemical Attack on Humanity

The book is appropriately subtitled; “Food and Liquids Used as a Medium in Deliberately and Carefully Planned Methods Developed by the Vicious Element of Humanity, for the Mental Deterioration and Moral Debasement of the Mass, as a Means Toward Their Enslavement.”

Dr. Clymer introduces readers with a stark warning for the future, writing, “Imagine yourself if you can, becoming conscious that you are gradually losing your manhood; that your mind is rapidly deteriorating so that you are no longer capable of thinking clearly; unable to plan your future actions. Your resistance is becoming so weakened that you are no longer master of yourself. In short, you are rapidly developing into a moron, a robot, a zombie, readily subject to the dictates of others…”

Feb 27 10:09

Why the Coming Economic Collapse Will NOT be Caused by Corona Virus

With Monday’s 1000 point stock market plunge the internet has been set ablaze with discussion of a new crash looming on the horizon. The fact that such a chain reaction collapse was only kept at bay due to massive liquidity injections by the Federal Reserve’s overnight repo loans should not be ignored. These injections which began in September 2019, have grown to over $100 billion per night… all that to support the largest financial bubble in human history with global derivatives estimated at $1.2 quadrillion (20 times the global GDP!).

Sadly economic illiteracy is so pervasive among today’s modern economists that the real reasons for this crisis have been entirely misdiagnosed with financial experts from CNN, to Forbes blaming the volatility on the spread of the Corona virus!

Feb 27 09:52

The Last Time This Happened Was Days Before The Great Depression

The US equity market is suffering its worst start to a year since 2009...

In the space of just six days, we went from record high to a 'correction' (over 3,000 Dow points and down over 10.5%)...

What is most ominous is the fact that, as NatAlliance Securities reports, "This would be only the second time in history that this has happened. The other? 1928."

Feb 27 09:50

Tesla Burning: Down 30% In Days As Markets Blindsided By Worst Weekly Selloff Since The Financial Crisis

While Tesla longs may have won the last month or two as the stock ripped from $300 to almost $1000 on a massive short squeeze - they are now starting to learn the very important (and very overdue) adage that when the tide goes out, you see who is swimming naked.

Yes, every millennial and annoying family member crowing over the last 2 months at family gatherings and social events about what investing geniuses they are for buying Tesla is now rushing to slam the sell button and get ahead of what is likely to be continued, non-stop selling, as the coronavirus pandemic continues to grind the global economy to a halt and strike the investing public with fear of the many unknowns that still remain.

Tesla is down about 12% today so far and about 30% off its 52 week highs.

Feb 27 09:30

The Economic Cataclysm Ahead

Feb 27 09:25

As Americans Distracted by Trump Tweets, President Quietly Attacks Medical Pot Protections

Drinking a dozen diet cokes a day makes Trump slur his words. Nutrasweet breaks down into wood alcohol and formaldehyde in the brain.THC on the other hand promotes the growth of new nerve cells. Keep swilling your diet coke Donald!

Despite what president Trump says to certain crowds on the campaign trail, his actions in office speak far louder than empty promises on the road. Trump has never openly supported marijuana legalization though he said he had no objection to US states legalizing forms of marijuana. When it came time to act, however, he did the opposite.

According to a recent report from the Sun Sentinel, the Trump Administration has proposed removing medical marijuana protections in the 2021 fiscal budget and leaked audio revealed the President’s belief that smoking weed makes you dumb.

Feb 27 08:29

Dow plunges deeper into correction territory, is now down 800 points

Stocks fell sharply once again on Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings also dragged down the major averages.

The Dow Jones Industrial Average plummeted 800 points, or 2.9%. The S&P 500 slid 2.9% while the Nasdaq Composite dropped 3.3%.

Feb 27 08:25

One Year Into “Soda Tax,” Researchers Find No Impact On Consumption

One year into Philadelphia’s 1.5-cents-per-ounce “soda tax,” new findings show that the law had minimal to no influence on what Philadelphians are drinking. The results were published this month in the International Journal of Environmental Research and Public Health from researchers at Drexel University’s Dornsife School of Public Health...

Feb 27 07:40

Coronavirus wipes out $1.7 trillion in US stock market value in two days

The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices.

The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm’s Senior Index Analyst Howard Silverblatt. It’s down $2.138 trillion since last Wednesday’s high, according to S&P Dow Jones.

Feb 27 07:36

Michelle Malkin: There Is No American Worker Shortage

"We're full, our system's full, our country's full!" That was President Donald Trump last year at our southern border.

"Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families." That was Trump in January 2017 at his inaugural address.

"The influx of foreign workers holds down salaries, keeps unemployment high, and makes it difficult... to earn a middle class wage." That was presidential candidate Trump in 2016.

Feb 27 07:31

Goldman: 3 Key Reasons Why We Are Bullish On Gold

On “Bloomberg Commodities Edge”, Bloomberg’s Alix Steel and Naureen Malik talk with Jeff Currie, global head of commodities research at Goldman Sachs. They discuss Goldman’s bullish stance on gold.

Gold is gaining on mounting speculation China and other central banks will unleash stimulus to counter the economic pain from the coronavirus outbreak, boosting liquidity in the market and devaluing currencies.

UBS are also bullish on gold as a hedge on dollar and geopolitical risk.

Feb 27 07:15

Costco Sells Out Of Emergency Food Kits Online Amidst Coronavirus Outbreak

By Chris Menahan

Costco Wholesale, which is one of America’s biggest suppliers of long-term storable food, sold out of all their “emergency food kits” on their website after the CDC warned that Americans should be prepared in case the coronavirus becomes a pandemic.

Visitors to the “Emergency [Food] Kits & Supplies” section of their website are currently greeted with a message saying, “We’re sorry, no products were found.”

A trip to the local store...

Feb 27 02:28

The Looming Financial Nightmare: So Much for Living the American Dream

The national deficit (the difference between what the government spends and the revenue it takes in) is projected to surpass $1 trillion every year for the next 10 years.

The United States spends more on foreign aid than any other nation ($50 billion in 2017 alone). More than 150 countries around the world receive U.S. taxpayer-funded assistance, with most of the funds going to the Middle East, Africa and Asia.

Meanwhile, almost 60% of Americans are so financially strapped that they don’t have even $500 in savings and nothing whatsoever put away for retirement, and yet they are being forced to pay for government programs that do little to enhance or advance their lives.

Folks, if you haven’t figured it out yet, we’re not living the American dream.

We’re living a financial nightmare.

The U.S. government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones who will pay for it.

Feb 27 02:19

Here’s what Esper’s AFRICOM review has decided so far

Facing skepticism from members of Congress about plans to alter force posture in Africa, Defense Secretary Mark Esper told members of the House Armed Services Committee that he remains committed to keeping U.S. forces on the continent.

“There are no plans to completely withdraw all forces from Africa,” Esper said Wednesday.

As part of a broader review of the force structure for the combatant commands, Esper has been considering moving forces out of U.S. Africa Command’s area of operations. Reports emerged at the end of 2019 that the department was looking at removing several hundred forces from Niger, Chad and Mali.

Webmaster's Commentary: 

Do not expect any major moves in US troops away from Africa; US troops are there to contain China's advance toward controlling the embarrassment of riches which are African natural resources, and the selling of them in any other currency than the US dollar.

Feb 26 22:12

Why I Want To Be Infected With The COVID-19 Coronavirus And You Should Too

I want to be infected so I will develop natural life-long antibodies against this mutated virus that appears to be produced in a laboratory, not mutated in the wild.

Modern vaccines aren’t producing life-long antibodies. Right now, there is no approved vaccine, so you will have to think about how to produce natural antibodies against this dreaded virus.

Feb 26 19:49

Buy now, pay later 'growing fast' amid debt fears

Buy now, pay later services for online shoppers are growing at 39% a year, a report says, despite worries that young consumers are sleepwalking into debt.

Operators such as Klarna and Afterpay allow customers to delay payment or buy through interest-free instalments.

Convenience and the ease to make snap purchases are behind their popularity, according to the report by payment processors Worldpay.

But consumer groups say many young people are ignoring the debt risks.

Feb 26 17:49

Confessions of a Recovering Neocon

I hate to admit it but just a few short years ago I was a Neocon, and I’m not proud of it. Like so many others today I was bewitched by what I thought at the time was patriotism. I genuinely believed that if we could just elect some good, God Fearing Republicans all would be well.

Feb 26 15:13

Microsoft Slides After Cutting Personal Computing Guidance Due To Coronavirus; Intel Dragged Lower

After trying hard to ignore the deadliest global pandemic in decades, and pretending it would have no impact on future sales or demand, US corporations are starting to fall like viral dominoes, with one after another slashing guidance.

The latest to join Apple, MasterCard, United Airlines, Burberry and dozens more in slashing or pulling their forecast altogether, was Microsoft, which shortly after the close said that for the fiscal third quarter, it doesn’t expect to meet its More Personal Computing segment guidance as Windows OEM and Surface are more negatively impacted than previously anticipated by the coronavirus.

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