ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Feb 26 12:40

True Affordable Insurance For Everyone

Please join me in signing this petition. We must all send a message that all of us need to be treated more fairly when it comes to being covered and not be left with a monstrous deductible. If nothing is done, more of us will end up being discarded and not even be seen by doctors. Money must be well spent, and not for nothing which is what I feel our case is.

Feb 26 11:37

Shale Decline Inevitable As Oil Prices Crash

Feb 26 09:20

Coronavirus Tailor-Made For a Vaccine?

Very interesting article!

It considers whether the Wuhan Strain of coronavirus (COVID-19) is the result of naturally emergent mutations against the possibility that it may be a bio-engineered strain - directly altered by genetic manipulation, subject to artificially-guided evolutionary selection, or both - meant for immunotherapy protocols that was released into the public, most likely by accident since China's rate of occupational accidents is about ten-times higher than America's, and some twenty-times more than Europe's - the only other regions with high-level virology labs. TARGETS EAST ASIANS?

Feb 26 09:15

Port of LA Cargo Volume down 25%

Feb 26 09:14

US troops arrive in Germany for 'Defender Europe 20' military maneuvers

Looks like the US is getting ready to attack Russia. It wont end well. It will be the end of America and of most of us who live here. Thanks Trump!

A massive trans-Atlantic military exercise has gotten underway with over 40,000 US troops and military vehicles expected to arrive in Europe. It is the largest US troop movement across the Atlantic in 25 years.

In total, over 20,000 troops and 20,000 pieces of equipment are being shipped across the Atlantic, arriving at six European seaports. They will then transfer to staging areas and on to military maneuvers with European partners, the US Army said.

A significant part of the troops and equipment are expected to be deployed to Poland, Latvia, Lithuania, and Estonia.

Feb 26 07:36

WARNING: Market Crashing/ Pandemic Imminent

Feb 26 05:38

NYC Hotel Loans Defaulting At Alarming Rate As Room-Rates Plunge, Tourism Tumbles

More and more New York City hotels are defaulting on their mortgages, signaling an alarming trend in the industry as "challenging market fundamentals" and new supply act as headwinds for the industry.

This has resulted in room rates declining and sites like Airbnb gaining traction in the market, according to The Real Deal.

The main metric to watch is the average daily room rate, which has dropped in New York City to its lowest point since at least 2013: $255.16, according to STR. More than 22,000 new hotel rooms remain in the pipeline, as well, which will further add to the supply glut and likely push room rates even lower.

Feb 26 05:36

Illinois Has Its "Oh Sh*t" Moment And Realizes It Has No Money In Its Rainy Day Fund

Illinois wants to play catch-up with its rainy day fund at what is likely the worst possible time.

With 11 years of bull market behind us and a pandemic that is starting to make its way across the globe, it is only now that Governor J.B. Pritzker has decided he wants to help bolster the state's safety net. He'll be playing catch up to many other states, who used the last decade to bolster their respective states' funds, according to Bloomberg.

The Democratic governor is proposing putting $50 million from the state's surplus into a "budge stabilization fund" this year and then doing the same thing in 2021 if voters approve an income tax referendum currently before the state. The fund was almost depleted in 2017 when the state's government, led by a Republican Governor with a Democratic legislature, locked up.

Feb 26 05:34

Where next for the economy of India?

Feb 26 05:19

GE Cut 78,000 Workers In 2019 Amid Stabilization Efforts To Thwart Bankruptcy  

While it's too early to write an obituary post for GE, certainly this iconic American company and once darling on Wall Street has stumbled towards the brink of failure.

GE has been a corporate shipwreck for the last decade, where infamous Madoff whistleblower Harry Markopolos warned in late 2019 that the company's 'cash situation' is a lot worse than the company's filings would suggest.

Markopolos said the accounting fraud that GE has conducted would be more significant than Enron and Worldcom combined.

Feb 26 04:17

Gold miners fret about long-term supply even as they boost dividends

Gold miners have largely been boosting dividends to appease long-suffering shareholders rather than funding fresh exploration projects needed to grow production, a strategy that executives are warning may pose long-term risk to the industry.

The tension comes as gold prices are at the highest in seven years, near $1,650 an ounce, a surge in part fueled by a flight to safe-haven assets amid rising global concern about the coronavirus.

Feb 26 03:57

Western Australia is world’s new top mining destination

Resource-rich Western Australia has been picked the most attractive region for mining investment in 2019, the latest annual survey of mining companies released Tuesday by the Fraser Institute shows.

The Aussie state, which is home to almost 130 export-oriented mining projects and hundreds of smaller quarries and mines producing over 50 different commodities, had ranked second in 2018.

Feb 26 03:56

China closing 150 gold mines

China’s official news agency Xinhua is reporting that the country is set increase annual gold output to 500 tonnes by the end of the decade from around 450 tonnes currently.

China overtook South Africa as the number one miner of the metal in 2007. China’s Ministry of Industry and Information Technology (MIIT) expects gold output to grow by an average 3% annually through 2020.

Feb 26 02:32

How Many Cases of Covid-19 Will It Take For You to Decide Not to Frequent Public Places?

As empty streets and shelves attest, people taking charge of risk has dire economic consequences.
How many cases of Covid-19 in your community will it take for you to decide not to frequent public places such as cafes, restaurants, theaters, concerts, etc? How many cases in your community will it take for you to decide not to take public transit, Uber/Lyft rides, etc.? How many cases in your community will it take for you to limit going to supermarkets and ask your boss to work at home?
One of the most unexamined aspect of the Covid-19 pandemic is the human psychology of risk assessment and fear. The default human response to novel threats such as the Covid-19 virus is denial and abstraction: it can’t happen here, it won’t happen to me, it’s no big deal, etc.

Feb 26 02:21

Europe keeps Schengen zone open despite coronavirus

European countries have no plans to suspend the Schengen free travel zone despite the coronavirus outbreak in Italy, Brussels has said, as it cautioned against a “panic” response.

The EU’s health security committee was due to meet on Monday for talks on the Italian crisis as the European Commission announced a €232m package for the global fight against the disease’s spread. 

An emergency assessment mission of the World Health Organization and the EU’s European Centre for Disease Prevention and Control is due to arrive in Italy, where 229 have tested positive for the virus and six people have died, on Tuesday as authorities there battle to contain the largest outbreak outside Asia.

“We need to take this situation extremely seriously — but we must not give in to panic and of course to disinformation,” Stella Kyriakides, EU health commissioner, told reporters in Brussels on Monday.

Webmaster's Commentary: 

When politics trump hard science, bad things happen; of course, with hubris the size of Texas, the Eurocrats are sitting safe in their bunkers, believing, with an absolutely stunning amount of "magical thinking" that this disease is never going to hit the EU, as it has China.

Feb 26 02:03

Who Is Behind the Mexican Drug Cartels?

President Donald Trump has declared that the “Drug Cartels” in Mexico are terrorists, intimating that America should wage a new “war on terrorism” in Mexico modelled on America’s counter-terrorism initiative in the Middle East against Al Qaeda.

What do the Mexican Drug Cartels and Al Qaeda have in common? They are covertly supported by US intelligence. They serve US interests.

Below Dean Henderson’s carefully researched article on the Mexican Drug Cartels first published in 2013.

Webmaster's Commentary: 

This is a long read, but worth it; your government makes money off of the drug cartels, therefore, no matter the codswallop coming from Washington against them, understand that they exist to provide service and support to this country's and other country's already well-monied elite.

Feb 26 01:34

US Airstrike Kills Terrorist Behind Attack on Kenya Base That Left 3 Americans Dead – AFRICOM

A US airstrike on Saturday killed a leader of the al Shabaab terrorist group who was blamed for an attack on a Kenyan military base last month that killed three Americans, US Africa Command (AFRICOM) announced in a press release on Tuesday.

“The two terrorists were identified as a senior al-Shabaab leader, who was in charge of planning and directing terrorist operations on the Kenya border region, including the recent attack on Manda Bay, and his wife, who also was a witting and active member of al-Shabab responsible for facilitating a wide range of terrorist activities,” the release said.

On 5 January, Islamist group Al-Shabaab - affiliated with al-Qaeda* - attacked a military base in Kenya's Lamu county.

The United States Africa Command issued a statement later in the day, saying that "one US service member and two Department of Defense contractors were killed at a Kenya Defense Force Military Base in Manda Bay, Kenya".

Webmaster's Commentary: 

Prayers for the families and friends of those Americans killed in this attack.

but that being said, what the hell is the American military doing in Kenya?

Because this... is the real question thinking Americans need to be asking themselves right now, and the answer to that question is both complicated, and should be morally, and geopolitically concerning to all Americans.

In the following article, Oxfam "nails" why the US is in this country:

Natural Resources: Kenya

The article goes on to state: "The discovery of oil, huge water aquifers, gas and coal in 2012 had the potential of boosting Kenya’s socio-economic development. The main challenge for Kenya’s emerging extractive sector however included outdated legislation, limited capacity for negotiating exploration contracts, and potential conflict over management of resources between national government, counties and within communities. Most communities living along such areas have not been consulted adequately for them to understand issues of compensation and benefits. The communities need to be well informed and give consent on land resettlement, their participation and even how to value their land to demand fair compensation and adequate involvement.

Oxfam’s work in the natural resources sector is a three programme approach that seeks to; promote women, men and youth in poor and marginalized communities secure their rights to access, control and own their land. Equally, the programme seeks to empower communities to make strategic decisions relating to their land and natural resources, monetarily and non-monetarily benefit from all forms of exploits derived from their land. In addition, Oxfam is working closely with policy makers to effectively implement accountable and transparent laws, policies and regulations."

What Oxfam would like to see happen here, is the polar opposite of what the US government, and the corporations which support it, want to see happen here.

The pattern is painfully familiar; regime change a government not to the US's liking, because they do want to give people living over and around its natural resources control over those resources, and shared revenue from their development; the expropriation of said resources, to which the US and US-centric corporations have no moral right; and corporate exploitation of those resources, leaving the people living over and around them, in lives of perpetual poverty and misery.

Or, in some cases, the US government is perfectly comfortable, supporting a government whose plans are inimical to the well-being of its citizens

Wash; rinse; repeat.

Why is it so damned hard for so many people not to understand what is going on here?!?

Is it, perhaps, because they just don't want to, because understanding would mean that there is a moral dilemma, which screamed for responsible, moral attention?

And of course, let's not forget China's appetite for raw resources in Africa as well.

The US is there, militarily, to enable it to dominate Africa economically, and prevent China's access not only to Kenya's natural resources, but to the rest of Africa's as well, as far as they can help it, insuring all imports are only sold for American dollars.

And that, folks, in a very grimy nutshell, is why the US military is in Kenya, and other parts of Africa as well.

Feb 26 01:11

THE DROWNING MIDDLE CLASS IN ONE CHART

SOURCE: CHRIS MENAHAN, INFORMATION LIBERATION

Americans over the past 35 years have had their effective incomes dramatically eroded due to the surging costs of college, health insurance, housing and transportation, according to a new study from the Manhattan Institute.

From The Manhattan Institute, "The Cost-of-Thriving Index: Reevaluating the Prosperity of the American Family" (via The Washington Post):

Webmaster's Commentary: 

Many people who have lived on Oahu, as we have, have decided to "vote with their feet", and move off an island beset by political corruption; huge boondoggle expenses, like the "light rail to nowhere"; a failing educational infrastructure; and housing which is crumbling, yet unaffordable, due to a tax structure which makes utterly no sense, unless one is well-monied in the first place.

And health care on Oahu?!?

Please, don't get me started; as a senior who suffered a compression spinal fracture about 3 years ago, with supplemental insurance, for which we paid, and pay, through the nose, I was informed by my HMO that I would have to wait 90 days before an appointment could be created, and I could be seen for care, even though I was in excruciating pain at the time, and attempted to convey that to the receptionist who set me up for an appointment... long after the permanent damage had been done to my back.

I did mention to the receptionist who "worked me in" for 90 days after that phone call, that I was in horrific pain, and believe that I was speaking English at the time; I guess that they have been trained to just not listen to a client making that observation.

I guess that this HMO's actuarial people were hoping and praying that I would die before they were mandated to provide care.

Feb 25 17:52

Extreme Panic Could Soon Hit USA…

Feb 25 15:23

Picking stocks based on personal consumption

Feb 25 15:19

Half-Billion $ Pandemic Derivatives

Feb 25 14:35

Oil Tanks On Fears Of Global Economic Crisis

Feb 25 12:31

Repeat after me: “It’s about time.”

Feb 25 09:01

Fed fund futures prob of a cut

Feb 25 04:12

Goldman Issues Shocking Warning On Systemic Threat From Supply-Chain Collapse

Having desperately avoided any discussion of a worst-case coronavirus scenario - or frankly any scenario that did not involve all time highs for stocks - for over a month, suddenly the market is obsessing with what a complete paralysis of China could mean for the world, not just in terms of millions in small and business companies shuttering and the financial sector collapsing under the weight of trillions in bad loans, but specifically how global supply chain linkages could cripple commerce across the world as corporations suddenly find themselves unable to find economic alternatives if China indeed goes dark.

Feb 25 04:08

Schiff: "The Whole Fiat System Is Nearing The End Of Its Life..."

Last year at the Vancouver Resource Investment Conference, Peter Schiff bet Brent Johnson a gold coin that the Fed’s next move would be a rate cut. At this year’s conference, Peter collected his gold coin.

Brent and Peter went on to debate the future of the US dollar. Brent says the dollar will go up this year. Peter thinks it’s going down. Peter put his money where is mouth is and went double or nothing against the dollar.

Feb 25 03:31

EMPTY SHELVES: CORONAVIRUS SHORTAGES COULD HIT U.S. STORES BY APRIL

Today on TruNews we discuss the approaching empty shelves in America’s warehouses and pharmacies and the how the break down in global supplies is hitting at the very heart of safety and quality control of producing coming from China. We also detail the satanic connection between depopulation, eugenics and the outbreak of super viruses, and we speak exclusively to a Canadian businessman who heard from his Chinese employee that the Coronavirus patient zero worked at the Wuhan bioweapons labs before succumbing to the pestilence. Rick Wiles, Edward Szall, Doc Burkhart. Airdate: 02/19/20.

Feb 25 00:45

THE DROWNING MIDDLE CLASS IN ONE CHART

Americans over the past 35 years have had their effective incomes dramatically eroded due to the surging costs of college, health insurance, housing and transportation, according to a new study from the Manhattan Institute.

From The Manhattan Institute, "The Cost-of-Thriving Index: Reevaluating the Prosperity of the American Family" (via The Washington Post):

Feb 24 16:51

The Drowning Middle Class In One Chart

Americans over the past 35 years have had their effective incomes dramatically eroded due to the surging costs of college, health insurance, housing and transportation, according to a new study from the Manhattan Institute.

Feb 24 16:03

America's Book of Secrets - 'The Gold Conspiracy'

Feb 24 14:16

Fidelity Breaks For 2nd Time In A Week: Countless Accounts Showing Zero Balance

One week ago, when stocks were hitting all time highs ... we reported that online brokerage Fidelity was true to its name and, well, broke, showing zero balances on countless accounts. At the time we said that "while we assume this pesky "glitch" will be resolved promptly, we should point out that if the market were to ever again suffer a down day and should investors wish to sell some/all of their holdings, this would be a convenient way to quickly and efficiently prevent that from ever happening."

Little did we know that this hypothesis would be test just three days later, because as of Monday morning, with stocks crashing and the Dow on pace to wipe out all gains for 2020, Fidelity has once again gone dark with the website barely working, and with countless clients eager to put on some "hedging trades" or at least get the hell out of Dodge, unable to do so because as Fidelity helpfully informs them, they suddenly have zero assets in their possession.

Feb 24 13:01

Gold Suddenly Hammered By Multi-Billion-Dollar Sale

Gold prices just suddenly plunged on the back of over $3 billion notional of futures being dumped through the market...

Silver was also hit, though not as much...

The orders hit at 1430ET - right as one typically sees margin calls issued - which suggests that perhaps someone just sold whatever they could to cover the collateral calls on their equity market losses.

Feb 24 12:03

Gold, silver bulls hit the accelerator amid coronavirus fears

(Kitco News) - Gold and silver prices are solidly up in midday U.S. futures trading Monday, but off of their overnight highs, as the coronavirus pandemic has traders and investors worldwide unnerved and seeking out safe-haven metals. Gold scored another seven-year high Monday, while silver futures prices were poised to close at a five-month high close. The negative effects of the coronavirus outbreak on the global economy appear to be increasing. April gold futures hit a new contract high overnight and were last up $29.30 an ounce at $1,678.10. March Comex silver prices were last up $0.355 at $18.885 an ounce.

Markets worldwide are getting rocked by a marked increase over the weekend in trader and investor fears amid the still-growing coronavirus outbreak.

Feb 24 11:40

OfficeMax: Are Office Supply Stores Dying?

Feb 24 11:33

Did You Know Colorado Springs Was Once Home to Nikola Tesla's Secret Research Facility?

Colorado Springs was once home to a secret lab built by engineer and scientific visionary Nikola Tesla, who made many discoveries and breakthroughs in the development, production, transmission, and use of electric power, and among them, the alternating current AC electric system is used principally all over the world and his Tesla coils are utilized in radio and paved the way for many of the wireless technologies we use today.

Feb 24 11:10

BA, TUI and easyJet are hardest hit as coronavirus panic sees £62BN wiped off UK shares and European markets dive by up to 5% - as IMF chief warns of risk to 'fragile' global economy

London's FTSE 100 index closed down 3.3 per cent at 7,156.83, meaning some £62billion was wiped off the total value of the stock market, with three of Britain's largest airlines dropping the most as the outbreak continues to spread.

The drop was the London stock market's worst one-day performance in more than four years.

EasyJet fell by 16 per cent, TUI by 10 per cent and British Airways parent firm IAG by 9 per cent towards the close as the number of infected people surged.

The CAC 40 in Paris and Germany's DAX both fell 4 per cent and the FTSE MIB in Italy dropped 5.4 per cent.

Feb 24 10:52

Do you know Black Monday (1987)?

Feb 24 09:31

Gold At $2,000/oz Likely This Year Due To Strong Coin and Bar, ETF and Central Bank Demand

IGTV interviewed Mark O’Byrne, Research Director at GoldCore about the outlook for gold and silver bullion.

He is bullish on both precious metals in the medium and long term. The fundamentals are very strong with strong central bank demand and ETF gold holdings reaching an all time record high due to deepening political and economic risks.

Silver at $18/oz and one eightieth of the price of gold is fundamentally undervalued and at some stage it will surge in value to catch up with gold.

Feb 24 08:43

MEET PRESIDENT SWAMP

This is a compilation of information on Donald Trump’s ties to Rothschild.
Trump has been not only been partners in crime with associates of the Rothschild family, he’s even been directly involved with the Rothschilds.

Casinos, Rothschild and Wilbur Ross
Trump’s daughter, Ivanka, before she married Jared Kushner, had an affair with Nat Rothschild, heir to the Rothschild trillions.

In 1987 Donald Trump purchased his first casino interests when he acquired 93% of the shares in Resorts International.

On 30 October 1978, it was reported that the principle investors of Resorts International were Meyer Lansky, Tibor Rosenbaum, William Mellon Hitchcock, David Rockefeller, and Baron Edmond de Rothschild: https://philosophyofmetrics.com/how-…trump-freepom/

When the casino went bankrupt, it was only with the assistance of Wilbur L. Ross Jr., senior managing director of Rothschild Inc., that Trump could “keep” the casinos. These days Wilbur Ross is Trump’s Secretary of Commerce.

Feb 24 08:33

How the ‘Interpreter’ Scam Brought 75,000 Iraqis and Afghans to America

One fact about all empires. The Homeland becomes over run by foreigners. Happens to every empire and helps to destroy it.

The latest battle over Special Immigrant Visas pitted Stephen Miller, President Trump’s senior advisor, against the Pentagon. The military brass was lobbying for 6,000 special immigrant visas for Iraqis who worked for American forces in the country. These visas were once again billed as helping “interpreters”.

That’s a lot of interpreters considering that there were only 5,200 American troops in Iraq.

How could there be more Iraqi interpreters for American troops than there are troops?

Feb 24 08:21

AU yeah! Gold surges more than 2% hitting 7-year highs

Investors are rushing to buy the safe haven yellow metal after rising fears over the spread of the coronavirus epidemic triggered panic sell-offs on Asian and European markets.

The price of gold surged more than two percent on Monday, hitting record levels since February 2013. Gold for April delivery on Comex reached $1,691.7 per troy ounce before slightly falling back later in the session. Meanwhile, spot gold was also up around 2.5 percent.

Silver prices also posted gains on Monday, with contracts for March rising 1.7 percent to $18.84 per ounce.

Feb 24 08:19

US stocks suffer massive losses on mounting fears over coronavirus spreading

Dow Jones and S&P 500 stock indexes tanked as trading in the US opened on Monday following an earlier sell off in European and Asian markets amid concerns the coronavirus epidemic may lead to a prolonged global economic slowdown.

The Dow Jones Industrial Average shed more than 970 points or 3.4 percent – the biggest one-day point loss since February 2018, when it fell more than 1,000 points. The S&P 500 plummeted more than 3 percent and the Nasdaq Composite was down nearly 4 percent after the opening bell.

Feb 24 08:03

China’s economy continues to collapse as domestic car sales plunge a whopping 92% on spread of Wuhan coronavirus

As The Epoch Times reported late last week, for example, sales of Chinese passenger vehicles has tanked a whopping 92 percent “on an annual basis the first 16 days of February,” according to the China Passenger Car Association.

Sales of passenger vehicles only amounted to 4,909 units during the first 16 days of the month, the organization reported, which fell from 59,930 vehicles sold over the same period a year ago. These are the first figures to demonstrate just how hard the Wuhan coronavirus is hitting the world’s largest auto market.

Because of quarantines and other strict measures meant to control the movement of the population, car sales and other economic activity are way down. But car sales have essentially tanked completely.

Feb 24 07:38

High-Income Taxpayers Now Confronted At Home By IRS Agents

The IRS announced Wednesday that it would increase at-home visitations to high-income taxpayers who haven't filed tax returns on time.

Remember when the IRS under the Obama administration targeted conservative groups? Now it appears this anti-wealth attitude extends to anyone earning over $100,000 that hasn't filed a return since 2018 or prior years.

During an at-home visit, IRS agents will inform the non-compliant taxpayer how to file returns and show them a pathway of regaining compliant status.

Uncle Sam wants his goddamn money!

"The IRS is committed to fairness in the tax system, and we want to remind people across all income categories that they need to file their taxes," said Paul Mamo, Director of Collection Operations, Small Business/Self Employed Division. "These visits focusing on high-income taxpayers will be taking place across the country."

Webmaster's Commentary: 

It is painfully obvious, that Mamo has has his conscience surgically removed, just as have many of his predecessors, before accepting this job.

These "visits" are criminal shake-downs, in a world where most Americans have never heard of the following, successful lawsuit against the US government:

"Sullivan vs/ the United States of America."

Feb 24 07:32

Coronavirus Could Be on the Verge of Worldwide Breakout

Paul Craig Roberts

It is difficult to get reliable information about coronavirus. The information difficulty is further complicated by interest groups using the outbreak for their own agendas. For example, many both inside and outside China are using the spread of the virus to criticize the Chinese government. Others, both inside and outside China, claim the virus is a bioweapon unleashed on China by the US. Still others say the global elite has decided to implement a program to reduce the world population and that Bill Gates, one of the global elite, said some months ago that a global pandemic would break out at this time. Some Internet sites attract traffic by posting reports of massive numbers of Chinese deaths and crematoriums running 24/7. The official Chinese story has been that the virus originated in a market that sold wild animal meat. The fact remains that Wuhan, apparently a city larger than any in the US, has been locked down for a month.

Feb 24 06:57

U.S. GDP Could Get Hammered

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