ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 24 15:51

Keiser Report: Seeds of Economic Disaster

Apr 24 13:41

We Are About To See Who's Swimming Naked

Apr 24 12:52

An Urban Survival Course with Selco: Your Gear and How to Pack It - Selco

What to Pack for a 5-Day Urban Survival Course

We have just finished our flagship Urban survival course in Croatia.

For 5 days Toby Cowern and I, as instructors, taught students skills and through the different exercises and scenarios, we stress-tested their knowledge and abilities.

For me, the most important thing was to give them a piece of the mindset needed for a real SHTF event and to give them a clear starting point from where they can build more skills, knowledge, and competence.

In some moments it was hard for them, both physically and mentally, but one of the most important points, of course, was to test them in not so perfect conditions.

The whole course cannot be transferred here for reading, but some highlights can be given in a series of articles, reflecting on the most interesting moments of each day. This time, we will start out with the gear necessary for the class.

Webmaster's Commentary: 

I consider knowledge like this to be critically important, if the US economy hits a crash moment, or has to deal with a war.

Apr 24 12:30

US Decries China’s High-Speed Rail in Laos. Connecting China’s Yunnan to South East Asia

China’s plans to build high-speed rail connecting Kunming in its Yunnan province with the rest of Southeast Asia are already underway. In the landlocked nation of Laos, tunnels and bridges are already under construction.

The United States has, in general, condemned China’s One Belt, One Road (OBOR) sweeping infrastructure programme, with US and European policy circles accusing Beijing of what they call “debt trap diplomacy.”

Quartz in an article titled, “Eight countries in danger of falling into China’s “debt trap”,” would claim:

Beijing “encourages dependency using opaque contracts, predatory loan practices, and corrupt deals that mire nations in debt and undercut their sovereignty, denying them their long-term, self-sustaining growth,” said US Secretary of State Rex Tillerson on March 6. “Chinese investment does have the potential to address Africa’s infrastructure gap, but its approach has led to mounting debt and few, if any, jobs in most countries,” he added.

Webmaster's Commentary: 

And what, pray tell, does the US actually have in the works, to counter this intelligently, and proactively?!?

The answer is, one big, fat, hairy nothing.

Even the desperately needed infrastructure projects right here in the US are not getting done.

The Chinese leadership is thinking long-term; the US government can barely keep its though processes straight through the next elections.

Apr 24 12:27

Might Trump Ask Israel to Fund America’s Invasion-Occupation of Syria?

On 16 April 2018, the internationally respected analyst of Middle-Eastern affairs, Abdel Bari Atwan, headlined about Trump’s increasingly overt plan to break Syria up and to establish permanent U.S. control over the parts it wants, “Attempting the Unachievable”. He stated that

“The coming few months are likely to prove very difficult for the Americans, and very costly, not just in Syria but also in Iraq.”

He closed:

“Who will cover the costs of this American move? There are no prizes for guessing the answer: it has already been spelled out.”

The only country that his article mentioned was Israel:

“It would not be surprising if Israel and the various lobbies that support were behind this American strategic volte-face. For Israel is in a state of panic.”

I do not consider this enormous reversal of Israel — from recipient to donor — to be likely. Far likelier, in my view, is Saudi Arabia, to finance the invasion.

Webmaster's Commentary: 

I think this analysis is the correct one, with the US tapping Saudi Arabia for the money to continue its invasion/occupation of Syria.

The question is, how long before there is a real, shooting war with Russia over Syria, which Syria invited into this country to get rid of the Western-backed Jihadis there?!?

Because from where I sit, is is a question of when, not if.

Apr 24 12:22

An Orderly Unwind of Stock Market Leverage?

That would be a first, but it might be happening. Everything in slow motion, even market declines?   

Apr 24 11:39

Dow plunges 500 points

Dow plunges on poor earnings reports

Apr 24 10:51

19 OIL TANKERS HELD HOSTAGE OFF YEMENI COAST

The Yemeni Houthis have captured 19 oil tankers and are keeping them from entering the Hodeidah port, according to reports from Saudi media quoting the Kingdom’s ambassador in Yemen.

The ambassador suggested three possible reasons for the detention, including an attempt to extract money from the owners of the vessels, “the continued starvation of the Yemeni people”, and a plan to destroy the tankers, causing major environmental damage to the Red Sea.

However, the only media sources reporting the tanker seizure are Saudi sources and there has been no confirmation from an external source that the Houthis have indeed seized any tankers yet. No details have been disclosed as to the origin of the vessels, either.

Yemen lies along one of the main global oil chokepoints in the Red Sea. Millions of barrels of crude oil pass Yemeni shores from the Suez Canal en route to Europe every day.

Webmaster's Commentary: 

A short memo to the government of Saudi Arabia, and the B.O.Y. (AKA, the butcher of Yemen, Prince Mohammed bin Salman); the only way to resolve this is with a political solution.

There has been a hubristical arrogance in this military operation in Yemen, aided and abetted by the United States Military, the foundation of which was the belief that you could, through intense genocide, grind the Yemeni people into submission; it has not worked at all.

I would like to politely suggest another way to tackle the problem through diplomacy, if such a thing possibly exists in your country.

You have gassed, starved, and in discriminately slaughtered infants; children; women; and the medically fragile elderly. You have destroyed schools and hospitals with impunity, all to no avail on the ground in Yemen.

Perhaps some other modality might work better now; because all you have accomplished is getting the Houthi rebels so angry at this genocide, that they are willing to do anything...to get the Saudi presence out of their country.

Apr 24 10:47

US Decries Chinese High-Speed Rail in Laos

China’s plans to build high-speed rail connecting Kunming in its Yunnan province with the rest of Southeast Asia are already underway. In the landlocked nation of Laos, tunnels and bridges are already under construction.

The United States has, in general, condemned China’s One Belt, One Road (OBOR) sweeping infrastructure programme, with US and European policy circles accusing Beijing of what they call “debt trap diplomacy.”

Apr 24 10:40

America: Paralyzed By Mounting Debts

It’s not just the repayment of debt that presents a potential crisis; it’s the interest payments. With a clear correlation between government debt and diminished growth, a natural first step would be for the government to ease its deficit spending on programs such Medicaid, Social Security, and Medicare to decrease the waste inherent in some of these programs.

Interest rates are expected to rise to $1 trillion during the next decade. That is more than the US spends each year on Medicaid and its military. It will cost $55,000 per household over the next ten years just to service debt.

Apr 24 10:30

SAUDI ARABIA PAYS $40M TO THE PALESTINIAN AUTHORITY

The Saudi Development Fund has paid $40m to the Palestinian Authority (PA) ministry of finance in support of the PA budget, the Saudi newspaper Okaz reported yesterday.

The permanent Saudi representative at the Arab League said that this payment covered the dues of the Kingdom reserved for February and March 2018 – $20m for each month.

Saudi Arabia pays $20m monthly to the PA budget.

The Kingdom’s representative to the Arab League reiterated that his country would continuously support the Palestinian cause on a political, economic and humanitarian basis.

Webmaster's Commentary: 

The Foreign Policies of Saudi Arabia appear to be schizophrenic in the extreme; on the one hand, they are propping up the PA, and on the other, they are creating a genocide in Yemen, in a situation where most experts I read indicate that the only solution in Yemen has to be a political reconciliation.

Apr 24 10:27

Warning To All, The Establishment Reveals The People Are Liable For The Debt

The central bankers are showing how nervous they are about the crypto market, they continue to say that cryptocurrency could never replace paper money printed by the Fed.

Apr 24 10:25

What Is It Really Like To Work In An Amazon Warehouse? We Spoke To The Man Who Went Undercover To Find Out

“It felt like what I imagine the atmosphere at a prison would feel like”, he says. “Every time you went to the toilet, every time you finished a shift, every time you went on your break, you had to pass out through giant airport-style security scanners, [and] queue for those. You know, remove your belt, remove your watch and everything in your pockets.”

“You carried around with you this hand-held electronic device which would monitor whereabouts you were in the warehouse. It was also a countdown timer, so as soon as you collected your item, because you spend most of your day scanning items and putting them in baskets, as soon as you scan an item the timer would flip and it would be counting down”, he explains. According to James, employees had to follow this timer all day. It’s the sort of gamification that Amazon would never want to see streamed on Twitch.

Apr 24 09:53

Russia Buys 300,000 Ounces Of Gold In March – Nears 2,000 Tons In Gold Reserves

– Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves
– Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t
– Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets
– Turkey has removed all gold held in the U.S. opting for Bank of England and BIS
– Turkey follows trend set by both Germany, Netherlands and others to remove gold reserves stored in the United States
– Central bank decisions regarding gold reserves are examples of countries becoming nervous about the outlook for the dollar under the Trump administration

Apr 24 09:38

US to join Commonwealth? Farage drops BOMBSHELL about Brexit trade BREAKTHROUGH

NIGEL Farage told listeners there is an "incredible interest" from American officials in joining the Commonwealth as an associate member, after he spoke to leading officials in the White House.

Nigel Farage revealed this morning on his LBC phone-in show that top White House officials have expressed interest in joining the Commonwealth as an associate member.

The shock news comes amid a sudden surge in ties between the Commonwealth and the US administration under President Donald Trump.

Governors from the US visited the Commonwealth during the Heads of Government Meeting (CHOGM) this week, while the Royal Commonwealth Society opened up an office in the US earlier this year.

Apr 24 09:15

BRICS Create a New International Trade Currency, the Damage to the Dollar Will be Enormous and the Domestic Economy Will Collapse in a Short Period of Time

Most folks are really good about making sure they have the proper amount of insurance for their home and automobiles. But when it comes to ensuring the survival of their family in rough economic times, well … not so much.

It’s no secret that recent volatility in the world financial system has more than a few people openly talking about the threat of an economic collapse — and I’ve been explaining for several years now why I believe an economic collapse is inevitable.

If history is any guide, the good news is that it won’t result in a complete breakdown of society. Argentina suffered through the collapse of its own economy just over a decade ago and life goes on — but it remains less than idyllic there.

Apr 24 08:52

Fake Markets Produce A Fake Economy

Apr 24 07:38

The End of the Debt-As-Currency Era

We are nearing the end of the debt-as-currency era.

This is quite a broad statement and, of course, since debt is the foremost currency of our day, it would be quite understandable if the reader were to regard such a prognostication to be utter nonsense.

Indeed, many would say that, without debt, the world couldn’t function. Debt has always existed and always will. However, in eras past, debt often played a much smaller role, and those eras were marked by greater progress and productivity.

Apr 24 07:37

EU at war? Tensions rise as Brussels plans to shift BILLIONS from Eastern Europe to Spain

WARSAW and Budapest are expected to lose out on MASSIVE amounts of cash as Brussels proposes to move tens of billions of euros in EU funding away from central and Eastern Europe to the countries worse hit by the financial crisis, such as Spain and Greece.

Apr 24 07:35

Germany attacks Macron for having NO IDEAS to boost eurozone - ‘this could get messy’

EMMANUEL Macron’s time as the European Union’s golden boy has well and truly passed with even Germany losing patience with the struggling French president.

Apr 24 07:28

Washington Using Currency War To Destabilize Iran

The neoconservative hawks around the US President, notably new National Security head John Bolton and designated Secretary of State Mike Pompeo, are on record that Iran is in Washington’s sights for regime change or at a minimum, economic sanctions and chaos. The rhetoric is not empty. The ground is being laid by US threats to not renew the Iran nuclear agreement in May, a move opposed by the other signatories and a move that would plunge Iran into a deep economic crisis at a time it can ill afford.
The orchestration of the US-led bombing of Syria, regardless of what targets were or were not hit, now sets the propaganda stage for a dramatic escalation of new sanctions against Iran, and for a major destabilization, something not possible in 2009.

What is taking shape now from the side of Washington is preparation to unleash a new wave of economic and financial sanctions on Iran, regardless.

Apr 24 07:12

The Economic Stumbling Block Set To Dog The Inter-Korea Summit

Why economic cooperation could be the stumbling block at the inter-Korea summit
South Korea’s support for sanctions aimed at halting North Korea’s nuclear goals limit Seoul’s power to help Pyongyang boost its economy, sources say

The leaders of North and South Korea might stumble over barriers to economic cooperation when they meet for their historic summit in the border village of Panmunjom on Friday, diplomatic sources said.

Although South Korea wanted to revive relations with a North Korea battered by United Nations and US sanctions, Seoul was not expected to present a detailed economic cooperation plan at the meeting, the sources said.

>>>

Apr 24 06:08

This is Not a Market

“[Price discovery] is the process of determining the price of an asset in the marketplace through the interactions of buyers and sellers”, says Wikipedia. Perhaps not a perfect definition, but it’ll do. They add: “The futures and options market serve all important functions of price discovery.”

What follows from this is that markets need price discovery as much as price discovery needs markets. They are two sides of the same coin. Markets are the mechanism that makes price discovery possible, and vice versa. Functioning markets, that is.

Apr 23 17:55

14 states hit record-low unemployment

Apr 23 17:41

Trump gives Lockheed Martin $1BILLION to build WORLD’S DEADLIEST MISSILE

DEFENCE chiefs in the United States are to invest nearly $1billion to develop a prototype hypersonic missile as Washington scrambles to keep pace with more advanced programmes boasted by Russia and China.

Apr 23 15:45

NAB advisers impersonated customers, made unauthorised withdrawals

The banking royal commission has turned its gaze to NAB, with revelations some financial advisers impersonated customers and forged their signatures.

Apr 23 15:33

An overview of economic collapse hypothesis

Apr 23 13:12

The Entitlement Crisis Nobody's Talking About

Apr 23 11:02

CONNECTING THE DOTS OF BIG DATA, SOARING CORPORATE PROFITS, AND TRADE WARS

Here's how I'm connecting the dots of data collection/data mining and the new model for maximizing profitability: the entire model of "capitalism" (maximizing return on capital and labor) has shifted from getting rich making stuff/providing services to distributing/marketing goods and services in a cartel structure.

In this economy, the essential role is played by big data/data mining. Wal-Mart, Amazon, Facebook, Google et al have no interest in where the goods and services are made/generated; the big profits are in the distribution/marketing (i.e. exploiting large data sets) and gathering and selling these large data sets.

Let's stipulate that those corporations whose entire value proposition is manufacturing expertise will continue to extract profits from manufacturing. But this doesn't mean that this manufacturing remains exclusively in the domestic economy, or that Big Data isn't increasingly a core value-generator for manufacturers.

Apr 23 10:55

IRD: "The System Will Have To Collapse"

Every public pension fund in the country is catastrophically underfunded, especially if strict mark-to-market of the illiquid assets were applied. Illinois has been playing funding games for a few years to keep its pension fund solvent. In Kentucky, where the public pension fund is on the verge of collapse, teachers are demanding a State bailout.

Apr 23 10:55

In Surprise Twist, Europe Now Pushing Trump Administration To Ease Russian Sanctions

Something strange happened in the days immediately preceding Trump's airstrikes on Syria: first Germany, then Italy, refused to join the US-led effort, which ultimately also included the UK and France. Commenting on this curious split within the European core, we said that "there are at least two European nations who remember that when it gets cold in the winter, there is one country they call to provide the natural gas they need for heating. Russia"

Apr 23 09:44

German MPs want Moscow back in G8, say peace in Europe possible ‘only with Russia’

The West should resume meaningful dialog with Moscow on all major international issues, and Russia should be invited to return to the G7, German opposition lawmakers say.

“If the West seriously intends to engage in a constructive dialog with Russia, it would be the right moment to do it now,” the head of the parliamentary faction of the Left Party, Sahra Wagenknecht, told DPA news agency. She added that the G7 group should once again become the G8.

Apr 23 09:10

Neo-Liberal Policy Causes ‘Regress’ In Latin America – Former Brazilian President

Former Presidents of Ecuador and Brazil Rafael Correa and Dilma Rousseff discussed a positive impact on the decrease of poverty and starvation in Brazil made by the social-democratic forces in the times of their leadership, during an interview broadcast on RT in Porto Alegre on Thursday.

Rafael Correa praised Dilma Rousseff’s State merits and embedded her in the ranks of “the three great Latin-American women who used to lead the three biggest countries of the region.”

He said that the Latin-American countries experienced “renaissance period” when they were governed by the socialist leaders.

Apr 23 08:59

'Big bitcoin heist' suspect escapes prison and flees Iceland 'on PM's plane'

The suspected mastermind behind the theft of 600 computers used to mine bitcoin in Iceland has escaped from prison and fled to Sweden on an aeroplane reportedly carrying the Icelandic prime minister.

Sindri Thor Stefansson escaped through a window of the low-security Sogn prison in rural southern Iceland before boarding a flight to Sweden at the international airport in Keflavik located 59 miles from the prison on Tuesday. Police said he travelled under a passport in someone else’s name, but was identified via surveillance video.

“He had an accomplice,” police chief Gunnar Schram told local news outlet Visir. “We are sure of that.”

Guards at the prison, which has no fences and where inmates have access to the internet and phones, did not report him missing until after the flight to Sweden had taken off. Stefansson had been in custody since February, but was moved to the low-security prison 11 days ago.

Apr 23 08:37

US Acting Secretary of State Sullivan calls on Ukraine’s authorities to raise gas tariffs

U.S. Acting Secretary of State John Sullivan at a meeting with Ukraine’s Foreign Minister Pavel Klimkin has called on the Ukrainian authorities to raise gas tariffs as well as to establish an anti-corruption court, State Department Spokesperson Heather Nauert told reporters.

"He urged Ukraine to redouble reform efforts and adhere to IMF programs by adopting legislation to establish a truly independent anti-corruption court and raising gas tariffs to import parity levels," she said.

Sullivan met with Ukrainian Foreign Minister Pavel Klimkin on April 21, on the margins of the G7 Foreign Ministers’ Meeting in Toronto, Canada.

Apr 23 08:33

Subterranean fires & gold rushes: Meet America’s ghosts towns (PHOTOS)

Swallowed by lakes, abandoned beside tapped out mines and collapsed due to subterranean fires, the US is pockmarked with thousands of ghost towns.

Dotted all around the country, the derelict towns, full of decaying buildings, have provided the backdrop and inspiration for numerous songs and stories. Most of them were once thriving communities but, for one calamitous reason or another, all the residents have long since departed.

Here’s a whistle-stop tour of some of the towns America left behind.

Apr 23 08:25

Expert reveals WHEN Britain's trade with the Commonwealth will BEAT the EU

AN INDIAN expert and broadcaster has revealed how long it will take for Britain's trade with the 52 Commonwealth countries to surpass its trade with the EU - and it will not please Brexiteers.

Ashis Ray told BBC Dateline that it could take a century before Britain's trade with the Commonwealth is stronger than its trade with the European Union.

The Indian expert and broadcaster also raised the possibility that this scenario may in fact "never happen" due to global competition.

This prediction follows the Commonwealth summit, CHOGM, which took place in London over five days this week.

Theresa May claimed that Britain will put the Commonwealth at the centre of its post-Brexit policy as the country looks to bolster its global trade ties.

Apr 23 08:25

EU DEBT BOMBSHELL: Merkel tells German savers 'you're LIABLE' if Eurozone fails

CHANCELLOR Angela Merkel has sounded a chilling warning to German savers by telling them they will end up footing the bill if the Eurozone fails.

Mrs Merkel, who has abandoned her opposition to a common European deposit insurance aimed at offering protection across the bloc, told reporters at a press conference in Berlin that her countrymen will be liable in the event of it hitting the rocks.

Speaking alongside French President Emmanuel Macron, she said: "We are also ready to create a joint deposit insurance system in perhaps not the immediate, but more distant future.

“We do want liability and risks to be kept together.”

Webmaster's Commentary: 

So the attitude in Germany (as it is in the US) is "Fuck the people to save the banks!"

Apr 23 08:20

Austrian Politician on EU-Russia Sanctions: 'The Negative Circle Must Be Broken'

Russia's Crimea is hosting the 2018 Yalta Economic Forum. The event is being held just a few weeks after several European nations decided to expel Russian diplomats and to follow Washington’s lead in toughening sanctions against Moscow. Austria wasn’t among the «hardliners». Sputnik sat down with Detlef Wimmer – the deputy mayor of Austria’s Linz.

Apr 23 07:04

The Fed Just Did It Again, Recession Is Right Around The Corner

Tax day has passed and the crypto market is on the rise again. Bank of America said the last time we saw this happening it was 2007.

Apr 23 07:03

Pentagon: F-35 Can Achieve Missile Defense Capability if More Money Spent

Lockheed touts the F-35 as a 'do it all' airplane, a boast which has led to skyrocketing costs, delivery issues and quality control problems. The total program cost of the F-35, accounting for R&D, procurement and operations is now estimated at a staggering $1.6 trillion over 60 years.

Apr 23 06:15

THESE Cities Have the Biggest Gap Between Rich and Everyone Else! MASSIVE Income Inequality!

Have you noticed more luxury cars and big houses being built, while seeing more homeless on the streets in your city? The gap between the rich and the poor seems to be everywhere.

Apr 23 05:43

Here’s Why Gas Prices Are Skyrocketing Right Now

Global economy and geopolitics are underpinning the oil price surge and gas prices are going up.

Who recalls the oil embargo of 1973?  That was when the Arab-dominated Organization of Petroleum Exporting Countries (OPEC) announced they were cutting oil exports to the United States and other countries that provided military aid to Israel during the Yom Kippur War of October 1973.

In six months’ time, gas prices had quadrupled.  Prices remained higher even after the embargo ended in March 1974.

But that could never happen again…Or could it?

Apr 22 13:31

MISSILE MANUFACTURER RAYTHEON'S VALUE ROSE BY $2.5 BILLION IMMEDIATELY FOLLOWING THE SYRIA STRIKES.

‘Maybe we’ll help the Saudis send some troops of their own to offset the influence of Iran and Russia’, speculated Jim Cramer on his CNBC show Mad Money. ‘That’s good news for these arms dealers, plus defense is the one place that Congress is going to spend lots and lots of money.’

Apr 22 12:59

3 Months Into Tax Relief, How It Is Going

Apr 22 05:29

Bitcoins, Beer and the Student Loan Disaster

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