ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 07 13:38

Video: Keiser Report: Bitcoin Drama

In this final episode of the Keiser Report from Freedom Fest in Las Vegas, Max and Stacy encounter Peter Schiff in the halls of the convention center and challenge him on bitcoin. Max continues his interview with bitcoin entrepreneur Charlie Shrem to discuss the latest drama and innovation in the cryptocurrency space.

Aug 07 13:34

The Currency Paradox

It has long been believed that Capitalism is the last economic system. It has triumphed over its rivals, socialism and communism, and has now come to define modern society. Many believe that the religion of Adam Smith was the culmination of all of our economic experiments. To many, not only is Capitalism the best economic system that humanity has ever devised, it is the best that it will ever devise.

Aug 07 12:03

A Brief History Of Global Economic Recessions

Aug 07 11:07

U.S. Sanctions Bill Adds More Targets To The List; U.S. Set To Sanction Itself Into Isolation

By Brandon Turbeville

With the new U.S. sanctions bill having been passed by a united Congress and signed by a President allegedly opposed to it, U.S. sanctions are now all over the news. But the sanctions bill was not just a step toward a second Cold War with Russia, the bill was also aimed at North Korea, Iran, China, and even Europe. In his excellent study of the bill, “U.S. Sanctions: A ‘Loony Tunes’ Bad Remake; ‘Irreversible Decline Of The U.S. As A Global Superpower,” F. William Engdahl described the legislation as being a “nuclear barrel bomb with sanctions flying in all directions.” Sadly, Engdahl is right...

Aug 07 10:59

WALL STREET FINES DOWN 66% UNDER TRUMP'S GOLDMAN SACHS-FILLED ADMINISTRATION

Since taking office in January, President Donald Trump has chosen ex-Goldman Sachs bankers to fill several key positions within his administration. According to a Wall Street Journal analysis published Sunday, it appears that the nation's largest financial institutions are benefiting greatly from having their friends in government.

Aug 07 10:40

How Trump threw peace, prosperity under AIPAC bus

Two days ago, a close colleague of mine was on the line from Greenwich, Connecticut to discuss my upcoming book when the conversation turned to these new Russia sanctions. My colleague related a story from Capital Hill and an insider who explained the vote on the sanctions law. The gist of this insider's revelation was that the overwhelming "yes vote" in Congress indicated one powerful player behind the curtain - America's pro-Israel lobby AIPAC.

Aug 07 10:35

The Madness Is Back: Homeowners Take Out Mortgages To Buy Bitcoin, Cars And Wine

It's been about a decade since the term "mortgage arbitrage" made headlines. It's back.

In the clearest sign yet of just how late far the investing cycle the developed world finds itself, the FT writes that wealthy British homeowners are again borrowing against their property to invest in bonds, equities, alternative investments or commercial property as the low cost of debt creates opportunities for “mortgage arbitrage”. And while taking out a mortgage to invest in "safer" arbs like corporate bonds, commercial real estate or private equity would be at least understandable, if not excusable, in the current low-yield regime, some more extreme "investment" decisions suggest that the madness and euphoria that marked the peak of the last asset bubble is back: because while growing numbers are prepared to risk using their primary residence as collateral, some are ready to gamble on extremely volatile assets like bitcoin, wine and cars.

Aug 07 10:30

Rare Earths Are China's Most Potent Weapon In A Trade War

In October 1973, the world shuddered when the Arab members of the Organization of Petroleum Exporting Countries imposed an oil embargo on the United States and other nations that provided military aid to Israel in the Yom Kippur war. At the same time, they ramped up prices.

The United States realized it was dependent on imported oil — and much of that came from the Middle East, with Saudi Arabia the big swing producer. It shook the nation. How had a few foreign powers put a noose around the neck of the world’s largest economy?

Well, it could happen again and very soon. The commodity that could bring us to our knees isn’t oil, but rather a group of elements known as rare earths, falling between 21 and 71 on the periodic table.

Aug 07 10:30

Yanking The Bank Of Japan's Chain - "It's Basic Math, Stupid!"

Based on the simple reflection that arithmetic is more than just an abstraction, we offer a modest observation. The social safety nets of industrialized economies, including the United States, have frayed at the edges. Soon the safety net’s fabric will snap. This recognition is not an opinion. Rather, it’s a matter of basic arithmetic. The economy cannot sustain the government obligations that have been piled up upon it over the last 70 years.

Aug 07 10:29

‘Tough Love’: Frustrated US Business Owner Livestreams Homeless Encampment

Gary Watts, the owner of a car repair shop in Everett, Washington, installed a video camera on top of his building to livestream a sidewalk homeless encampment across the street from his workplace.

The royal wedding cake, showing the first cut made by the Duke and Duchess of Cambridge, is seen in Buckingham Palace, London, Wednesday July 20, 2011, before going on display to the public during the palace's annual summer opening.

The video stream is currently 24/7 on Facebook, and the frustrated small-business owner has bigger plans in store, according to Komonews.com.

"We'll be adding more high definition cameras and it will be part of a 24-hours-a-day live-streaming YouTube channel called Tweakerville USA," said Watts, owner of Z Sport Automotive. For those interested in a primer on underground drug culture in America, "tweakers" is slang for methamphetamine addicts.

Aug 07 10:22

WOW The Federal Reserve Smacks Down Paul Krugman

In a recent column, The New York Times economist Paul Krugman attacked the deregulation of banking and called banking before deregulation "boring banking."

He blamed the crises since the deregulation as being caused by the deregulation.

But none other than the Federal Reserve has come out to refute Krugman's claim. In an essay, Were Banks ‘Boring’ before the Repeal of Glass-Steagall?, Nicola Cetorelli, an assistant vice president in the Federal Reserve Bank of New York’s Research and Statistics Group, concludes:

Aug 07 10:20

US Firms 'Will Shamelessly Occupy New Niche' in Russian Market Amid EU Sanctions

US companies are likely to take advantage of the EU's decision to introduce anti-Russian sanctions over the Siemens scandal, political expert Alexei Mukhin argued. According to him, Siemens could easily be replaced by American companies, "which will shamelessly occupy the new niche" in the Russian market.

Aug 07 10:14

Struggling to survive on the Mississippi Delta: Inside the lives of some of America's poorest people

The national poverty rate is about 15 percent; it's 22 percent for Mississippi. In most Delta counties, it's 30 to 40 percent.

Aug 07 10:10

Duterte’s ‘golden age’ of infrastructure hits the peso

Gee! Wonder who is manipulating the Peso. The NWO Boys don't like this guy.

While the peso’s dip is raising eyebrows in a region where the Thai baht and the Malaysian ringgit are flirting with multi-year highs, it’s come mainly because the Philippines, one of the world’s fastest growing economies, has been enjoying a construction boom.

Besides private construction, companies like Teravera are confident of more contracts coming from the government’s drive to upgrade its dilapidated roads, railways, ports and airports, which have been a drag on the economy.

Aug 07 09:50

Former Facebook exec warns society will collapse into chaos and conflict within 30 years as robots put half of humans out of work (and he's living as a recluse in the woods to avoid it)

Antonio García Martinez, a former Facebook product manager and Silicon Valley author, became terrified of technology and quit his job to live a life as a recluse with a bucket toilet and assault weapon in the woodlands north of Seattle.

'You may not believe it but it's coming, and it's coming in the form of a self-driving truck that's going to run you over,' he told the BBC in an upcoming two-part BBC documentary 'Secrets of Silicon Valley'.

Aug 07 09:33

Germany economy on edge: Shock PLUNGE in industrial output is biggest fall in six months

GERMANY's industrial output sank in June sparking fears for the eurozone's largest economy, which is heavily dependent on manufacturing.

Factory and construction firms output fell by a an economically damaging 1.1 per cent, the biggest fall in six months, according to the latest data from the German Economy Ministry.

Aug 07 09:31

Scrimping EU to pull £4.3bn from Turkey while snatching cash from UK to fill Brexit hole

THE cash-strapped European Union (EU) is set to withdraw its promise to hand £4.3billion in pre-accession aid to Turkey in a bid to bridge the financial gap left by Brexit.

Günther Oettinger revealed it is very “unlikely” the money, designed to bring Europe and Turkey closer together, will be paid to Ankara as tensions deteriorate between both countries.

Aug 07 09:18

Merkel horror: EU chief says Germany will have to pay up to £9BN to fill UK's Brexit hole

GERMANY could have to pay up to an extra £9 billion a year into the EU budget to cover the black hole left by Brexit, the bloc’s finance chief has admitted.

Aug 07 08:31

Against all odds, BRICS nations get their act together

Despite the China-India border standoff, US economic warfare against Russia, and other woes, the five countries' trade ministers concentrated on creating conditions for better cooperation

Aug 07 08:28

Russia vows move to cut reliance on dollar

Russia will speed up work on reducing its dependence on US payment systems and the dollar as a settling currency in response to US sanctions, RIA new agency cited Deputy Foreign Minister Sergei Ryabkov as saying on Monday.

Aug 07 08:28

Overbrook bakery closes, blames city soda tax

CC Orlando & Sons, which baked countless wedding and holy communion cakes and pastries since its founding on an Overbrook corner in 1948, closed after business Sunday.

The Orlando family cited not only the challenges of the baking business in these days of ubiquitous Dunkin’ Donuts shops and 24-hour supermarkets but the city’s 1.5-cent-per-ounce tax on sugary beverages and a recent rise in property assessments.

“The soda tax was the kill shot,” said Anthony Voci Jr., a grandson of Christopher Columbus “Chick” Orlando and now a lawyer in Philadelphia.

Aug 07 08:25

TRUMP IS WINNING AND MORE AMERICANS WORKING THAN EVER: LIBERALS STILL TALKING ABOUT RUSSIA

The number of employed Americans hit a record high of 153,513,000 in July, according to the latest numbers released by the Bureau of Labor Statistics. There were 345,000 more Americans who gained employment over the month, and more individuals joined the labor force as well.

Aug 07 08:15

Iraq Races To Fill The Gap Left By The Saudis

Iraqi oil exports topped 100 million barrels in July, but that’s still lower than the 3.93 million barrels per day rate Baghdad boasted back in May.

The latest figures from the Iraqi Oil Ministry do not include exports from Kurdistan, which reach international markets via the controversial Kirkuk-Ceyhan pipeline. SOMO, the national oil distribution company, said all the exported oil had originated from central and southern oilfields.

June data shows Kirkuk exporting 677,413 barrels, or 22,000 bpd. It remains unclear whether shipments from the area, formally under the control of the Kurdistan Regional Government (KRG), have been affected in July.

Aug 07 07:29

Russia to reduce reliance on US dollar & payment systems in response to sanctions

The blackmailed dummies in the US Congress just shot the USA in the ass!

The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti.

Aug 07 02:31

Not All Capital Is Equal; Some Is Destructive

Aug 06 16:23

Facebook employees are HOMELESS and living out of their own cars

A Facebook contractor named Unique ‘Pinky’ Parsha has recently stated in public that she had been forced to live out of her car due to the high cost of living in the Silicon Valley. According to Parsha, she used to rent in the northern California neighborhood where the high rental rates for apartments, in combination with her student loans and medical bills, had led her to eventually becoming homeless.

Parsha, a mother of two, had been living in her car for four months before announcing her situation to the public. In doing so, she hopes to initiate a dialogue on fair compensation and the relatively high rental rents in the Silicon Valley.

Aug 06 16:02

How Concerning Is The Transports Divergence?

Aug 06 13:37

The End of Retail as We Know It

Aug 06 13:21

Chaos Hits Barcelona’s Tourist Industry

Aug 06 11:09

Weather-based MIND CONTROL: Mobile app advertisers check the weather in your area to decide what ads will influence you the most

According to a recent study published in the INFORMS journal Marketing Science, certain weather conditions have a significant effect on how consumers respond after seeing an advertisement. For example, the study found that on sunny days, consumers respond to mobile promotions 73 percent faster and at a rate 1.2 times higher than they normally do. By contrast, response to mobile promotions during raining conditions was .9 times lower and 59 percent slower than the response to advertisements during cloudy weather.

Strangely enough, the consumer response to advertisements on cloudy days with isolated moments of sunshine was extremely positive. People were far more likely to interact with an ad when there were a few bursts of sunshine scattered throughout the day than they were when the weather was dark, gloomy and rainy.

Aug 06 10:41

MOLINA HEALTHCARE HAS LOST $230 MILLION SO THEY ARE EXITING THE OBAMACARE EXCHANGE

Molina Healthcare has announced it is exiting the Obamacare exchanges in Utah and Wisconsin and has experienced a $230 million loss in the second quarter of 2017.

Aug 06 10:28

Meet ‘Spoofy’. How a Single entity dominates the price of Bitcoin.

This story is about a trader, or a group of traders, or possibly even Bitfinex themselves manipulates the price of Bitcoin. The past few months I’ve slowly collected screenshots of a trader I like to call ‘Spoofy’. You’ll see evidence of spoofing, wash trading, a sketchy scheme associated closely with Bitfinex known as ‘Tether’ among other shenanigans.

Spoofy makes the price go up when he wants it to go up, and Spoofy makes the price go down when he wants it to go down, and he’s got the coin… both USD, and Bitcoin of course to pull it off, and with impunity on Bitfinex.

Aug 06 05:59

When Will the Tech Bubble Burst?

Aug 05 08:16

Vending Machines Are The Latest Threat To US Retailers

In a bid to undercut US-based brands, “fast fashion” purveyor Uniqlo announced this week that it will begin selling its clothes in vending machines, a common practice in Japan, where Uniqlo’s owner, Fast Retailing Co., is based. All told, the company plans to open 10 machines in and around New York City, Oakland and Houston, according to MarketWatch’s Ali Malito, who reported that brands are increasingly selling consumer goods like clothing out of vending machines as part of a “growing trend” as they “look for new ways to sell their goods" amid a flood of brick-and-mortar bankruptcies.

Aug 05 07:21

Stocks – The Great “Wealth” Equalizer?

Aug 04 21:46

Milk-Bar Clausewitzes, Bean Curd Napoleons: In the Reign of Kaiser Don

Political Science from Fred On Everything!

Why do those inadequate little men in Washington and New York dream of new wars? Because the empire is near a tipping point.

Washington must either either start a war in Korea, or gets faced down by the North, its carriers ignored, its bombers “sending signals” and making “shows of force” without result. For the empire this is a loss of face and credibility, and an example to others that America can be challenged.

Aug 04 18:38

“The Whole System Will Be Wiped Out” Expert Warns of Financial Meltdown - Tess Pennington

For years there has been a lot of financial noise. While many of us are novices at understanding stocks and economics, one thing is for certain, things are not right. In fact, our economy has not been right since the government’s rescue attempts of the “too big to fail” corporations and the housing bubble that peaked in 2008.

But how much longer can they prop up our financial system? Economic advisors such as Martin Armstrong, developer of the Economic Confidence Model, theorizes that boom-bust cycles occur once every 3,141 days, or 8.6 years (the number pi multiplied by 1000).

His charts warn of a global economic shift occurring where many trends will have reached their life cycle in 2017. If you have been following the stock market, you are well aware of the incredibly inflated stock market prices and over priced real estate markets.

Aug 04 18:31

Baltimore Chaos - Ceasefire In "Violence-Plagued" City Starts Today

A ceasefire between Baltimore “gang leaders, drug dealers and others linked to the violence” has been agreed on and will come into effect on Friday.

This is an act of desperation from a community that is currently experiencing a homicide rate doubled of Chicago’s and a murder count higher than NYC. The ceasefire aims to stop the killings for at-least 72-hours, starting on August 04-06.

The slogan selected by organizers gets right to the point: “Nobody kill anybody”.

Webmaster's Commentary: 

Fingers crossed, that this can hold, at least for a little while.

But when the city's economy is well and truly flushed; Numbers of Baltimore unemployed
and the educational system has truly failed its public school students; "It's Absurd" - 6 Baltimore Schools Have Zero Students Proficient In State Math, English Tests, you have a recipe for disaster.

Couple that with drugs and the gangs which run the city, there is a potential for volatility which can easily spiral out of control, as the situation now exists.

Aug 04 13:30

EU Imposes More Sanctions Against Russia, Blacklists Deputy Minister

The European Commission has decided to broaden sanctions against Moscow on Friday. As RT notes, more Russian individuals and firms accused of delivering Siemens gas turbines to the Crimea have been blacklisted.

The updated blacklist includes Russian Deputy Energy Minister Andrey Cherezov, the head of the department of operational control and management in Russia's electric power industry Evgeniy Grabchak and state firm Technopromexport CEO Sergey Topor-Gilka.

As we detailed earlier, this was expected.

The European Union is expected Friday to expand sanctions against Russian individuals and companies that were allegedly involved in the transportation of at least four Siemens turbines to Russian-controlled Crimea in violation of an international ban, according to Reuters.

Webmaster's Commentary: 

I would be willing to bet that Russia's retaliation will be both swift; and severely economically painful.

Aug 04 13:16

Putin Should Thank US for Sanctions: Russia and Iran Ink $2.5 Billion Deal

Russia and Iran signed a $2.5 billion deal on Monday to start up a much-needed rail wagon production operation. The agreement was forged between the Industrial Development and Renovation Organization of Iran (IDRO) and Transmashholding, who is Russia’s largest rail equipment supplier. The two sides will set up a new joint venture, which will be 80% owned — although completely funded — by the Russian partner.

Iran is currently in the midst of what could be called an infrastructure building bonanza. Emerging from decades of sanctions which left much of the country’s transportation infrastructure descending into proverbial ruins, Iran has embarked upon a near complete rebuild of its highway and rail networks. The country is expected to add on 15,000 kilometers of new rail lines in the next five years alone — a rapid expansion which is going to require 8,000-10,000 new wagons each year.

Webmaster's Commentary: 

I love the smell of irony in the morning!!

Aug 04 11:58

Printing Half A Quadrillion Dollars

Stock investors are rejoicing about stock markets making new highs in many countries, totally oblivious of the risks or the reasons. It seems that this is an unstoppable rally in a “new normal” market paradigm. No major increase is expected in the inflation rate or the historically low interest rates. The present rally has lasted 8 years since the 2009 low. There is virtually no fear in markets so investors see no reason why this favourable climate would not continue for another 8 years at least.

Aug 04 11:22

The Economy Breaks Down As The Transitional Shift Is Quietly Being Implemented

The housing market in Canada is cooling down, prices plunge most on record in Toronto. Manhattan and many of the big cities are going to be hit with an imploding housing market as China pulls back.

Aug 04 11:11

BRICS countries strike fatal blow on US dollar supremacy

The United States has declared a war of sanctions on Russia and continues putting trade pressure on China. It is not ruled out that the USA will restrict supplies of steel products from China. In return, Moscow and Beijing intend to abolish the US dollar in mutual settlements within the scope of the BRICS organization. The move will mark the end of the era of the undivided financial domination of the United States of America in the world. As soon as the US Congress adopted a package of new sanctions against Russia, Deputy Foreign Minister of the Russian Federation Sergei Ryabkov issued a formidable warning to Washington. "US sanctions against Russia will only encourage Russia to create an alternative economic system, in which dollars will not be needed," the Russian diplomat said...

Aug 04 10:25

More Cracks Showing In The Rally Foundation?

Aug 04 09:49

BAE, BRITAIN’S LARGEST ARMS MAKER, POSTS RECORD PROFITS

Britain’s largest defense firm has made $733 m in six months, and expects further growth, in results posted weeks after surviving a High Court challenge to its multi-billion-dollar arms deals with Saudi Arabia.

BAE Systems lauded the sale of Typhoon jets to Oman and noted its court victory over anti-arms trade campaigners in the results, saying net profits soared 36 percent to £555 m ($733 m) in the six months to the end of June, compared with £408 m a year earlier.

It said profits were boosted by UK government defense spending and a weak pound following Britain’s decision to leave the European Union. Sales forged almost 10 percent higher to stand at £9.565 bn.

Charles Woodburn, BAE’s chief executive, said: “BAE Systems’ performance in the first half was consistent with our expectations and guidance for the year.

“We have a sound platform for medium-term growth underpinned by a clear and consistent strategy.

Webmaster's Commentary: 

Mr. Woodburn, a word, please: your "sound strategy" is leaving hundreds of thousands dead and maimed for life in Yemen, courtesy of Saudi bombing runs against it.

So glad you feel so great, and completely conscience-free, about this!!

Aug 04 09:30

Damage Limitation: Calls for 'Managed End' to Euro as Italy Teeters on the Brink

The increasing debate in Italy about the merits of "Italexit" is a reflection of the unresolvable difficulties that face the eurozone, financial expert Marc Friedrich told Sputnik Deutschland.

Aug 04 09:11

The Trump Administration Reaches for a Trade Sledgehammer

The White House is planning to launch new investigations into China's trade and intellectual property practices, and soon. The move underscores how talks between the United States and China have broken down over Washington's expectations that Beijing would help rein in North Korea's nuclear program.

Aug 04 09:05

OPAL Case Resolved: Western Europe 'Not Afraid to Cooperate With Russia'

On Friday, the Higher Regional Court of Dusseldorf struck down on provisional measures that had restricted Gazprom's access to the German OPAL pipeline, which were enacted following a complaint by Poland's state-run oil and gas company PGNiG.

Webmaster's Commentary: 

Looks like Europe is slipping away from US control.

Aug 04 09:04

Iraqi PM calls for strengthening economic relations with Tehran

Iraqi Prime Minister Haider al-Abadi called for continued cooperation with Tehran on economic and trade areas, Iraqi media said on Friday.

Webmaster's Commentary: 

Looks like Iraq is slipping away from US control!

Aug 04 09:03

French parliament approves Macron's drive to loosen labour laws

France's parliament has adopted a bill allowing the government to fast-track changes to the labour code, the first major reform of Emmanuel Macron's presidency which aims to slash unemployment.

Aug 04 09:01

China opposes new US sanctions against Russia, Iran, N Korea

China has strongly opposed any unilateral sanctions against Russia, Iran and North Korea by the United States.

China is against any unilateral sanctions imposed by any country, including those recently enacted by the United States, which stipulate tougher restrictive measures against Russia, Iran and North Korea, the Chinese Foreign Ministry said in a statement.

Aug 04 08:23

BIG DATA + PRIVATE HEALTH INSURANCE = GAME OVER

Once big data systems agglomerate enough data about you to predict whether you are likely to get sick or badly injured, insurers will be able to deny coverage (or charge so much for it that it amounts to the same thing) to anyone who is likely to get sick, forcing everyone who might ever need insurance into medical bankruptcy, and turning Medicaid into a giant "high-risk pool" that taxpayers foot the bill for.

For this to happen, we only need for insurers to have discretion over whom they insure (something they lost under Obamacare) and for insurers to not care too much if they over-exclude a few low-risk people who false-positived into the big data "high-risk" bucket -- when you go fishing with a dragnet, you always get a few dolphins along with your tuna.

The existence of more personal health data and better algorithms for sorting it suggest that private medical insurance is just incompatible with 21st century technology.

Webmaster's Commentary: 

This is why everyone out there needs to educate themselves on nutrition and supplements. Knowledge is power here, folks.

For example, when did your MD happen to mention that magnesium and zinc supplements are effective tools in helping people deal with depression?!?

The Role of magnesium and zinc in depression

Probably never.

When was the last time your family practitioner mentioned the role of turmeric in preventing, and/or treating cancer?!?

Cancer Prevention With Natural Compounds

Probably never.

There are things the medical/industrial complex really doesn't want to concern itself about, because the sicker you get, the more you will opt for their treatments, which generally do not, and cannot, cure.

Aug 04 07:24

DJIA Arriving at the Real Seasonal Peak

Aug 04 07:08

Toronto Housing Bubble Pops. “Genuine Fear” of Price Collapse

Sales volume crashes, prices plunge from April peak.

Aug 04 07:07

Is Another Lost Decade Ahead?

Aug 04 06:28

Is Another Oil Head-Fake Brewing?

Aug 03 16:41

No inflation?? Yeah, Right.

Aug 03 13:23

The Dark Underbelly of Spain’s Jobs Recovery

Where Did All the Workers Go?

Aug 03 13:08

It's Not The Stock Market Bubble You Need To Worry About It's The Everything Bubble

European banking system is getting worse and the central bankers are preparing for a collapse of the banking system. Core Logic is reporting the housing is overvalued, it is exactly what we saw in the 2008 crisis.

Aug 03 12:53

An Important Warning About This Bull Market

Aug 03 12:35

China tries to calm US trade spat while readying retaliation

China sought to stabilise the deteriorating trade relationship with the US, as the prospect of an investigation by the Trump administration on intellectual property raised the risk of tit-for-tat measures from Beijing.

US officials are gearing up to investigate China over what the administration perceives to be violations of intellectual property, said a government official who spoke on condition of anonymity on Wednesday because the probe hasn't been announced.

It's a charge Beijing rebuffs. Ministry of Commerce spokesman Gao Feng said Thursday that China pays "high attention" to intellectual property and wants to maintain good cooperation with the US.

Aug 03 12:07

Mega-Banks Blow 100% of Earnings on Share-Buybacks & Dividends, Crimp Lending, Constrain Economy

“The real economy has little to gain, and much to lose.”

Aug 03 11:44

Don’t Lie To Poor Kids About Why They’re Poor

Work hard and you’ll get ahead — that’s the mantra driven into young people across the country.

But what happens when children born into poverty run face first into the crushing reality that the society they live in really isn’t that fair at all?

Aug 03 10:51

Albert Edwards: "The Last Time This Happened Was In January 2008"

Two days ago, we were the first to point out that in a striking case of data revisionism, the Bureau of Economic Analysis, in an attempt to retroactively boost GDP, revised historical personal incomes lower, while adjusting its estimates of personal spending much higher, resulting in a sharp decline in personal savings, which as a result, was slashed from 5.5% according to the pre-revised data, to just 3.8%, in one excel calculation wiping out 30% of America's "savings", and cutting them by a quarter trillion dollars in the process, from $791 billion to $546 billion, a level last seen just before the last US recession.

Aug 03 10:50

Surprised? Massive Weed Shortage in Nevada Orchestrated by Big Alcohol

This is bizarre.

Las Vegas, NV Ever since recreational cannabis was legalized for retail sale a few weeks ago, dispensaries have had difficulty maintaining their stock and say they will run out if the broken supply chain is not fixed.

We didn't know the demand would be this intense, Al Fasano, co-founder of Las Vegas ReLeaf, told the Los Angeles Times. All of a sudden you have like a thousand people at the door! We have to tell people we are limited in our products.

TFTP spoke to a dispensary owner in Nevada who explained that there is plenty of cannabis to go around. However, thanks to the alcohol distributors who are distributing the cannabis the dispensaries have no product.

Aug 03 10:50

Trump To Launch Trade War With China On Friday, Beijing Vows Retaliation

Yesterday, the WSJ reported that the Trump administration is planning to begin a probe of what the U.S. sees as violations of intellectual property by China. Against a backdrop of Trump’s frustrations with domestic policy, sliding approval ratings and disagreement with China over North Korea, the chances of protectionist action are rising, as is the probability of a "hot", retaliatory trade war. This morning ow learn when Trump is set to fire the first shot. Reuters reports, citing White House officials, that President Trump is expected to make a speech and sign a memorandum at the White House on tomorrow, Friday, that will target China's intellectual property and trade practices, effectively firing the first shot in what could escalate into a major US-China trade war.

Webmaster's Commentary: 

Trade wars are frequently preludes to shooting wars; and to make this announcement at a time when President Trump desperately needs China's cooperation to get any movement from North Korea on its nuclear missile program?!?

This is utterly the absolutely wrong move at the wrong time.

Aug 03 09:30

Senator Gillibrand pulls support for Israel Anti-Boycott Act

In an act unprecedented in recent history, US Senator Kirsten Gillibrand took a stand this week in support of the right of Americans to boycott Israel by formally withdrawing her sponsorship of S.720, the Israel Anti-Boycott Act.

The New York Democrat’s withdrawal of her sponsorship comes after constituents repeatedly pressed her on her support of the bill at town hall meetings in New York City.

On 22 July in the Bronx, Gillibrand affirmed that “we are all allowed to boycott” in response to a constituent who laid out his concerns that the bill would criminalize those supporting boycotts of Israel.

At another town hall in Queens on 31 July, Gillibrand stated in response to similar concerns that she would not support the bill in its current form. She made good on her promise by notifying the Senate on 1 August that she wished to withdraw her sponsorship of the bill.

Webmaster's Commentary: 

Senator Kristen Gillibrand, bravo, and well done!!

Of course, you know that AIPAC will have their agents out to destroy your candidacy by any means they deem necessary, should you run for another term in Congress; so what you did was utterly, morally brave here.

You have just become my heroine, in backing away from supporting this bill, and I hope many of your brothers and sisters in Congress will do the same thing.

Aug 03 09:22

‘We are ready': If US sanctions hurt European interests, EU can react ‘within days’ – Juncker

Europe will come up with an “adequate” response and “within days” if the newly-signed US anti-Russian sanctions law hurts the interests of European companies working with Russia, European Commission Head Jean-Claude Juncker has warned.

European interests should be always taken into account when it comes to enabling new US sanctions, Juncker said in an interview to the German ARD-Europastudio Brussel.

“We must defend our economic interests even against the US. And that is what we are going to do," Juncker said.

“We are ready,” he added, pointing out that EU reserves the right to take retaliatory measures in case its interests are violated. He also drew attention to the fact that the newly-signed US law can have “unpredictable” consequences for the EU in the field of energy security.

Aug 03 08:57

Imagine What Would Happen if China Decided to Impose Economic Sanctions on the USA?

China is not dependent on US imports. Quite the opposite. America is an import led economy with a weak industrial and manufacturing base, heavily dependent on imports from the PRC.

Imagine what would happen if China following Washington’s threats decided from one day to the next to significantly curtail its “Made in China” commodity exports to the USA.

It would be absolutely devastating, disrupting the consumer economy, an economic and financial chaos.

Aug 03 08:55

5 unintended consequences of US sanctions

When it comes to sanctions, the law of unintended consequences works in Russia's supreme short and long term favour.

Aug 03 08:55

India’s road games will always flounder compared with China’s One Belt–One Road

By seeing its ambitious trading links as an alternative rather than an implicit part of One Belt--One Road, India will only ever attain second best via-a-vis the far larger Chinese initiative.

Aug 03 08:48

‘FULL-FLEDGED ECONOMIC WAR’: MEDVEDEV SLAMS TRUMP’S ‘HUMILIATING’ CAVE-IN ON RUSSIA SANCTIONS

The US establishment has fully outwitted Donald Trump and used his administration’s weakness to declare a fully-fledged economic war on Russia, Prime Minister Dmitry Medvedev has said, adding, that the move leaves no doubt that bilateral ties will never improve.

On Wednesday, Donald Trump signed into law a bill imposing new sanctions on Russia, which Medvedev says has put an end to “hopes for improving our relations with the new US administration.”

“It is a declaration of a full-fledged economic war on Russia,” he wrote in a lengthy strong-worded Facebook post in both English and Russian. “Unless a miracle happens,” the law will affect US-Russian relations for decades, Medvedev wrote.

Webmaster's Commentary: 

Medvedev is absolutely correct in his assessment.

The demonisation of Russia continues in the articles by the presstitutes and whorespondents, and there is an unmistakable crescendo in the beating the drums for war against it.

Russia neither annexed Crimea, nor can be proven to have meddled in the 2016 elections; with the installation of these sanctions, Russia is getting punished for what it absolutely has not done.

There are many in the American Deep State who salivate over a potential shooting war with Russia, to prevent the rise of the ruble, and the decline in the US dollar in economic markets, and obfuscate the reality that Russian military hardware is in great demand, as it has been tested, and performed brilliantly, in Syria. Unlike US weapons (like the epic fail which is the continuing military nightmare of Lockheed Martin's F-35), Russia's weapons actually work as advertised on the battlefield.

Prime Minister Medvedev, unfortunately, this is precisely the agenda of the Deep American State right now; it is no "accident" that NATO and US troops are surrounding and encircling Russia right now, with large military exercises nearly at your very border.

At the moment, both the State Department and Pentagon are putting forward proposals to President Trump about the best way to arm Ukraine, as reported two days ago at the New York Times:

The Pentagon and State Department are Presenting Proposals to Arm Ukraine

Should President Trump follow through, and sign off on this, this act will be tantamount to the US government having declared war on Russia.

I am hoping - and praying - that the logical, peaceful, and reasonable challenges of a robust independent media to such a war can possibly prevent this; but right now, I am seeing the wheels of impending wars in motion at almost too great a velocity to overcome.

But at the moment, with the American economy poised on the sheer cliff edge of total collapse, there are, unfortunately, many in the bowels of power in this country who feel that a war - against any country they don't particularly like - is the only way to prevent such a collapse, or hide its true origins, which have resulted from intense governmental deficit spending, coupled with lousy errors in judgement by the US's Federal Reserve.

Aug 03 08:45

Tax the Rich: An animated fairy tale

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