Greek MPs have voted in favor of new austerity measures, including pension cuts, tax hikes, and new taxes on internet and TV. Clashes with police broke out as thousands in Athens protested the moves that Greece’s creditors have been demanding.
Late on Sunday night, the Greek Parliament adopted controversial pension reforms set to reduce pension allowances and raise taxes, among other measures, in order to comply with EU bail-out requirements, as anti-austerity protests continued to rock Athens.
Tax havens “serve no useful economic purpose,” a group of 300 leading economists has said in a letter urging world leaders to bolster financial transparency ahead of London’s anti-corruption summit this week.
The letter, coordinated by Oxfam, suggests the UK is “uniquely placed” to reduce global corruption because it has sovereignty over a third of the world’s tax havens.
Brazilian assets plunged after the effort to impeach President Dilma Rousseff appeared to hit a roadblock, spurring concern that some of the world’s biggest stock and currency rallies would be undone if the current administration remains in power.
The Ibovespa stock benchmark plummeted as much as 3.5 percent as the real weakened as much as 4.6 percent, the most since September 2011, after the interim chief of Brazil’s lower house called for a new vote on the impeachment, accepting an argument by the attorney general that the ballot last month had procedural irregularities.
The Ibovespa and real have posted the biggest rallies among major markets this year on speculation an impeachment would usher in a new government better able to pull Latin America’s biggest economy out of its worst recession in a century, tame inflation and shore up a fiscal deficit. The Senate had been scheduled to vote this week on whether to move forward with the impeachment and compel Rousseff to stand trial on allegations she used state banks to shore up the government’s accounts.
Now that Donald Trump seems to be a sure thing for the Republican nomination, a GOP-led “entitlement reform” movement is all but done—for now. The Republicans put “entitlement reform” front and center as a major issue in 2012, but given Clinton’s ostensible opposition and the meteoric rise of Trump, who says he opposes Social Security cuts, the legendary “Grand Bargain” is now on the political back burner. This, predictably, has left some of the “entitlement reform” holdouts very upset.
In his interview for Der Spiegel, Schmidt said that the trade agreement, already sparking a decent amount of controversy, does not provide significant concessions to German food producers, offering minor concessions to the automotive sector instead.
Tens of thousands came out in the capital of Italy to decry the secretive Transatlantic Trade and Investment Partnership (TTIP) deal between the EU and the United States, which protesters believe would push Europe into corporate slavery.
The French government ignored its own intelligence in dealing with crises in Ukraine and Syria, and recklessly followed Washington’s lead by joining anti-Russian sanctions, dealing a huge blow to its agriculture, said a former French intelligence boss.
Following Donald Trump's Thursday comments that rising interest rates would be disastrous for the economy, saying that "we're paying a very low interest rate. What happens if that interest rate goes up 2, 3, 4 points?" hinting that the U.S. should "renegotiate longer-term debt" with creditors and that if the economy crashes he "can make a deal", various media outlets went to town on Trump, most notably the NYT, which took Trump to task:
I would imagine that there are members of the Federal Reserve, plotting to poison this man's tea right now, for having said that!!
The United States has a central bank. That central bank, in reality, is our dictator. We so often claim we want to avoid tyranny, however, we our own guards of our own slavery. Central banks being illegal has done nothing to compromise the world’s worst infraction of their being: The Rothschilds.
This means that the Rothschild’s virtually rule almost every Government in the world (certainly every known modern one). And that’s without limitations.
The Federal Reserve is a perfect example. They manipulate our economy for their own ulterior and nefarious purposes. They create depressions and print endless amounts of fraudulent, fiat cash. And who do you think owns that?
And it's been standard practice in the US that if a politician does want to see the documents, they can't bring anything with them (not just no staff, but no electronics, no way to write anything down). They can just "read and retain." The EU has been following the US's lead on this, with special "reading rooms" for elected officials where someone watches over their every move. Again, they're not allowed any electronics. They are allowed a pen and are given paper to write on, which is a modest improvement on the USTR's system, but still ridiculous.
A Member of the European Parliament, Luke 'Ming' Flanagan, decided that he was going to go have a look for himself, and had someone film his attempt:
Finance ministers from the 19-nation eurozone will hold an emergency meeting in Brussels Monday with the aim of staving off another economic crisis in Greece. The meeting comes amid growing public unrest in the debt-ridden nation, where lawmakers on Sunday approved a raft of deeply unpopular austerity measures, including tax hikes and pension cuts.
"The next step in our plan for Greece ... and everyone else ... will be to keep those who work and pay taxes alive, and simply kill the rest and sell their bodies for commercial purposes!" -- Eeeeyoooh
It appears Russia is close to taking the next big step towards de-dollarization and killing the petro-dollar as VladimirPutin’s “dream” of ruble-based pricing of its domestically-produced oil is on the verge of realization. SPIMEX (The St. Petersburg International Mercantile Exchange) is actively courting international oil traders to join its emerging futures market, which as Bloomberg reports, is designed “to create a system where Russian oil is priced and traded in a fair and straightforward way.”
Step-by-step Russia, China and other emerging economies are taking measures to reduce their dependence on the US dollar, and as SputnikNews detailed, F. William Engdahl warns – referring to Russia’s crude oil benchmark initiative – this move could deal a dramatic blow to the “petrodollar’s” dominance.
It appears my allegedly optimistic path for self-driving vehicles on the roads by 2020 may not have been optimistic enough. Tests of self-driving taxis will take place within a year in a deal between GM and Lyft. In a second deal, Chrysler and Google have teamed up on a self-driving minivan. In Germany, self-driving trains will interconnect with self-driving autos to form self-driving door-to-door networks.
Barreling their way way without their even knowing about it is the term ‘breadwinner bigot’ big government will soon brand all those who resent that some 25.5 million foreign-born people have jobs, while some 94 million and still counting Americans do not.
Do you remember all the hopes Americans had for Obama when we elected him to his first term? Painful memories. He betrayed the voters on every one of his promises. There was no change, except for the worst as Obama went on to become one of the most vicious war criminals in world history. Despite his horrific record, we re-elected him*, only to have US economic policy turn against the people in order to bail out at our expense the mega-banks and the One Percent.
Now Obama is coercing Asia and Europe to turn the governments of their countries over to rapacious American corporations empowered by TPP and TTIP to subordinate all interests to their profits.
If anyone wants a short course on what’s wrong with US diplomacy look no further than US Ambassador to Hungary Coleen Bell’s speech Friday to the Foreign Affairs Committee of the Hungarian Parliament. In typical diplo-speak there was plenty of flowery language about shared values, fish swimming together in the same water (?), sappy poetics like “together, out of that winter, we would force the spring,” and talk of together being “part of the world’s greatest military and political alliance.”
But make no mistake: Inside Ambassador Bell’s velvet glove is an iron fist, poised to strike should Washington’s annoyingly independent-minded Fidesz-led government step out of line on the big issues. And by “big” issues it should be understood that the US means the issues it considers in the interests of its own foreign policy, not those in Hungary’s interest.
Message to Hungary: do as we say or you will be sorry.
On May 7th, Deutsche Wirtschafts Nachrichten, or German Economic News, headlined, “USA planen mit TTIP Frontal-Angriff auf Gerichte in Europa” or “U.S. Plans Frontal Attack on Europe’s Courts via TTIP,” and reported that, “America’s urgency to sign TTIP with Europe has solid reason: Megabanks must protect themselves from claims by European investors who allege that they were cheated during the debt crisis. … The U.S. Ambassador to Italy has now let the cat out of the bag on this — probably unintentionally.”
Global computer giant IBM signaled Wednesday that it is shrinking its physical presence in Rochester, selling off two-thirds of its massive complex in northwest Rochester. It's hard to be optimistic about such a turn of events, and yet, that's the view of City Council President Randy Staver.
"I see it as encouraging," said Staver. "At least IBM didn't leave altogether.
Randy sounds like the kind of guy who falls off a 100 story building and as he passes the fiftieth floor says, "So far, so good!"
The system is running out of options it can use to stop Trump.
CNN is reporting that the anti-Trump movement has spent an estimated $75,723,580 on 64,000 negative television advertisements. Furthermore, that figure only accounts for broadcast television, not cable or satellite.
About one out of every four dollars against Trump came from Conservative Solutions PAC, a group supporting Marco Rubio’s candidacy.
Two groups supporting Cruz wasted nearly $16 million in their effort, while his campaign spent $4.3 million.
One group supporting Jeb Bush spent $10 million against Trump.
Hillary Clinton’s campaign has already spent $5.2 million specifically going after Trump.
The European Union is a centralised super state trading block whose conceptual origins lie in the Third Reich of Hitler’s Nazi Germany.
The concept of ‘global trading blocks’ was already well established under Hitler’s regime, but their origins go back further: to the British Royal Society. Post British Empire colonial ambitions were hatched around the desire to form a number of global trading empires whose leadership would be essentially elitist and corporate, with banks mostly at the helm.
Here lies the origin of the ‘free trade’ concept. A trading pattern which is anything but ‘free’ due to the fact that it is designed to prevent any one country stopping any other country from resisting the import of products that it has no need or no wish for: I.E GMO maize and soya, beef raised using growth hormones or sweat shop mass produced cheap goods that undermine the ability of the blocking country to fairly trade its own quality home-made items.
Shocking revelations show that at least four members of the Clinton Foundation board of directors have either been charged or convicted of financial crimes, including bribery and fraud.
This newest, startling revelation is just one more of many in Peter Schweizer’s bombshell book Clinton Cash: The Untold Story of How and Why Foreign Governments and Businesses Helped Make Bill and Hillary Rich, the book that has sent the Hillary Clinton campaign and the media scrambling.
The Munduruku Peoples of the Brazilian Amazon are celebrating a victory in their fight to protect their lands from planned hydroelectric plants.
The National Foundation for the Indian (FUNAI) has issued a historic ruling that will demarcate and protect a 700-square-mile territory of the Munduruku Peoples along the Tapajós River, in the Brazilian Amazon. The ruling is the latest decision in the Munduruku’s fight to protect their ancestral lands from flooding as part of planned hydroelectric dams. The demarcation and protection of the lands will now prevent the Munduruku’s land from being flooded. The final demarcation must be approved by presidential decree after 90 days before becoming law...
This is big and could lead to very volatile oil markets in the near term. The key, of course, is whether this will lead to any change in Saudi philosophy toward the oil price, which is currently one of full pumping and a lower price to crush marginal producers in the United States and elsewhere, It is unlikely that the announcement was made over the weekend by accident, it will provide traders in the oil market a little time to digest the news.
U.S. employers pulled back on hiring in April, adding 160,000 jobs, the fewest in seven months, after a streak of robust monthly gains. The unemployment rate remained at a low 5 percent, roughly where it has been since fall.
Last month's hiring gain marked a drop from the average increase of 200,000 over the past three months. Weak U.S. economic growth may be making some employers more cautious about hiring.
Still, the government's report Friday pointed to a U.S. job market that continues to generate steady hiring and to outperform those of most other major countries .
(*which are struggling all the more thanks to USD hegemony )
So just like back in 2008, we are going to see huge numbers of people unable to pay their bills when they lose their jobs. Foreclosures are going to skyrocket, and lots and lots of families are going to be put out into the street.
I am amazed but not amused to receive all these joyous rumormill announcements about the “Global Reset” and how we shall all soon be “millionaires” and how America is going to “lead the way” into this new era of ” prosperity and abundance”.
Are all those sending these message around the globe completely mad? Dumbed down to the extent that they cannot easily calculate the affect of giving everyone “millions of dollars” all at once? and
Any such fiat digital “money” masquerading as a “US Dollar” will be rendered useless overnight.
As it was in Weimar Germany, it will be here. It will cost a million such “dollars” for a loaf of bread.
And you think this is something to celebrate?
Did your Mothers drop you all on your heads?
President Barack Obama urged the U.S. media and American public on Friday to examine the “long record” of Republican presidential candidate Donald Trump and not get distracted by the “spectacle and the circus” aspect of the 2016 election campaign.
The Democratic president delivered an indirect swipe at the flamboyant, combative Republican primary campaign run by Trump, a former reality television star, and how media have covered it.
“It’s important for us to take seriously the statements he’s made in the past,” Obama said in remarks to reporters. “I just want to emphasize the degree to which we are in serious times and this is a really serious job.
“This is not entertainment. This is not a reality show. This is a contest for the presidency of the United States.”
I find these statements from President Obama richly ironic, because before he was nominated by the Democratic Party to run for President, his "long history", before becoming a Congressional representative, was completely blocked from public investigation.
What about his life in Indonesia, his hidden college transcripts, and occasionally using the name "Barry Soetoro"?!?
What about his time at Business International Corporation, a known CIA front?!?
What about the allegedly promised "most transparent administration in history" embracing the thuggish culture of deceit and treachery against the American people, by making things like the TTIP top secret, until the text was finally leaked?!?
And there is another interesting comparison to make; Trump has succeeded in business, where Obama has failed the American people miserably at almost every turn.
We find ourselves more enmeshed with wars, and more wars coming (in an election year, no less); the economy is great for the 1%, and lousy for most of the rest of us; jobs continue to be offshored and outsourced, leaving many Americans destitute; and the Administration keeps fudging the employment figures and ignoring the 30 million who have been out of work for a long time. And Obamacare is an absolute disaster, with many providers pulling and with premiums going up sky high in November with those insurers staying in the game.
Except for the P5+1 Agreement with Iran, which still may crater at any time, this President's "legacy" will be considered a nightmare, from the long, cold gaze of history.
An investigation by the Los Angeles Times has revealed that the pharmaceutical company that sells the opiate painkiller OxyContin knew the drug was highly addictive — but pushed it anyway.
The Times obtained thousands of pages of confidential Purdue documents and learned company executives have known about the problem for decades.
“Even before OxyContin went on the market, clinical trials showed many patients weren’t getting 12 hours of relief. Since the drug’s debut in 1996, the company has been confronted with additional evidence, including complaints from doctors, reports from its own sales reps and independent research,” the Times reports.
And even more damning, “The company has held fast to the claim of 12-hour relief, in part to protect its revenue. OxyContin’s market dominance and its high price — up to hundreds of dollars per bottle — hinge on its 12-hour duration. Without that, it offers little advantage over less expensive painkillers.”
There is one thing to know about all high-level executives at drug companies; before accepting that very well paying position, they have to have their consciences surgically removed before taking the job, in order to lie well to protect corporate profits at all cost.
The next five years will see the international market for ‘riot control systems’ boom to a value of more than $5 billion at an annual growth rate of 5%, according to a new report by a global business intelligence firm. The report forecasts a dramatic rise in civil unrest across the world, including in North America and Europe, driven by an increase in Ferguson-style incidents and “extremist attacks.” The Middle East, North Africa and Asia-Pacific regions will also experience a persistent rise in conflicts.
The Teamsters Central States Pension Plan – which proposed drastic cuts to pension checks for hundreds of thousands of retired truck drivers in Michigan and elsewhere – has been told by the U.S. Treasury that its plan has been rejected.
Think about it for a moment. The state government runs a gambling system that is pretty much a gigantic money-making enterprise. Plus, they get to tax the winnings! Man, they get some of it right back! They also often dole out the big winnings in yearly payments, probably so you can’t abscond the country with it all. But everyone I know that has played this regime rip-off has never won so much as ten bucks but has lost cash up into the hundreds of dollars. I tend to think the guy who wins the jackpot is probably a government shill to begin with. That’s how most gambling scams work and the government ought to know since they run the biggest one called “elections”.
JCPenney, faced with unexpected light sales in mid-April, slashed payroll, froze overtime and took other drastic cost-cutting steps in an attempt to protect its bottom line -- As the end of its first fiscal quarter approached, the mid-priced department store told store managers to take the emergency measures because the chain faced “an expense challenge,” according to an internal memo obtained by The Post.
The U.S. economy added the fewest number of jobs in seven months in April and Americans dropped out of the labor force in droves, signs of weakness that cast doubts on whether the Federal Reserve will raise interest rates before the end of the year.
Geneva prosecutors are widening their probe into Credit Suisse Group AG and one of its ex-wealth managers, identifying another three former employees as suspects in a case looking into unauthorized trades on the accounts of rich eastern Europeans, according to two people familiar with the investigation.
The cost of the months-long methane leak in California has grown to more than double previous estimates, with the company responsible now expecting to spend as much as $665 million, mostly to cover damages for over 8,000 affected families.
The Southern California Gas Co. updated its calculations a week after Los Angeles Superior Court Judge John Wiley Jr. ordered it to continue paying for temporary housing for Porter Ranch’s displaced residents.
Riyadh is in dire financial straits and there is no guarantee that the Gulf kingdom will be able to overcome the current difficulties; Deputy Crown Prince Mohammed bin Salman's prognosis that Saudi Arabia's economy will be diversified away from hydrocarbons by 2020 is nothing less than wishful thinking, Paul Cochrane wrote.
The argument here is not that Donald Trump is Ron Paul. Considering his views on trade, crony capitalism, and a number of other vital positions, it is clear he could would be well served from a thorough reading of Liberty Defined. But by calling out the Fed’s shenanigans and demonstrating a much firmer grasp of the threat it poses to American families, Donald Trump has articulated a better understanding of the true causes of Sanders’s “rigged economy.” A challenge to the monetary policy status quo is a much bigger threat to Wall Street than anything Sanders has proposed.
Washington used this week’s change of command of its European military forces as an opportunity to further escalate US military threats against Russia.
Speaking at the ceremony at the US European Command (EUCOM) headquarters in Germany Tuesday in which outgoing commander Gen. Philip Breedlove handed the reins to his successor, Gen. Curtis Scaparrotti, US Defense Secretary Ashton Carter declared that the Pentagon had to “prioritize deterrence” against Russia and accused Moscow of “nuclear saber-rattling.”
Carter reiterated the Pentagon’s plans to deploy an American armored brigade combat team near the Russian border “on a rotational but persistently present basis.” He also pointed to the Obama administration’s quadrupling of funding for the European Reassurance Initiative to $3.4 billion, which he said would “increase the amount of war fighting equipment, as well as the number of US forces” deployed in Eastern Europe.
Freight Rail Traffic Plunges: Haunting Pictures of Transportation Recession
292 Union Pacific engines idled in Arizona Desert
Total US rail traffic in April plunged 11.8% from a year ago, the Association of American Railroads reported today. Carloads of bulk commodities such as coal, oil, grains, and chemicals plummeted 16.1% to 944,339 units.
The Democratic Party must make a stand, and the stand is that you cannot be on the side of Wall Street. You cannot be on the side of that pharmaceutical industry — which, by the way, charges our people the highest prices in the world for prescription drugs — you gotta make a stand. And the stand we gotta make is the stand with the people in McDowell County, W.Va., and poor people and working people all over this country.
The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year, but the underlying trend continued to point to a strengthening labor market.
For a self-professed "anti-establishment" candidate, who has repeatedly stated he will fund his own way and is not "for sale to special interest groups", Trump may have some difficulties explaining this particular decision.
As Secretary of State, Paul would rollback Pax Americana and pursue a policy of noninterventionism. He would follow George Washington’s advice and oppose entangling alliances with other nations and wars of aggression. Paul would bring the troops home from hundreds of US bases in Korea, Japan, Europe and elsewhere around the world. He would shut down foreign aid. He rejects the dangerous confrontation with Iran, the embargo against Cuba, and military actions elsewhere. He advocates ending US participation in the conflicts in Iraq and Afghanistan.
Homelessness increased in the last year in the city and county of Los Angeles, leaving nearly 47,000 people in the streets and shelters despite an intensive federal push that slashed the ranks of homeless veterans by nearly a third, according to figures released Wednesday by the Los Angeles Homeless Services Authority.
Nearly two-thirds of the homeless people tallied countywide, or 28,000, were in the city of Los Angeles, representing an 11% jump in January from a year earlier, a report from the agency stated. The county's homeless population grew 5.7%.
Homelessness has increased steadily since 2013, as local officials struggle to identify funding for billion-dollar plans they approved this year to solve one of the region's most intractable problems.
Who could have seen this coming? Remember a week ago when TV entertainers crowed about the surge in The Baltic Dry Freight Index was a "clear signal" that 'China is back' baby and that escape velocity growth was just around the corner as global growth was destined to pick up... Well, just as we warned very explicitly, the ramp in the index merely reflected the frenzied speculation in industrial metals by the Chinese and as authorities have cracked down on that idiocy, so the Baltic Dry has plunged by the most since November... as real demand punches back.
Remember a time when people used to be cautious when it came to taking on debt? Probably vaguely since the entire U.S. economic system is built on “gold” and “platinum” credit cards being shelled out to people that can’t afford an ounce of either. In the mail I’m receiving overwhelming offers for credit cards and personal loans. The last time credit was flowing this easily was in 2005 and 2006. I’m not sure if people realize that the Great Recession was caused by excessive debt. Too much leverage. So it should be sobering to hear that since 2008 bank credit is up 44 percent while GDP is up 21 percent. What is basically happening is that for every $2 in lending GDP is moving up by $1. In other words, we are building a house of cards once again.
The problem is that Wall Street insiders make a fortune on those Houses of Cards just before they collapse.
My job is to write what I think about whatever happens on a given day. It's not to only write what I think will result in a certain outcome. So when I tell you that Donald Trump's new seven-point health care reform plan is excellent, some of you are going to say: Don't say that now! It'll help Trump! #NeverTrump!!!
But my job is not to care one way or the other about who it will help or hurt. It's to say what I honestly think. And what I honestly think is that the plan Trump released yesterday is as good as I've heard from anyone in the race - if not necessarily better - for how to replace ObamaCare. I'm going to excerpt the seven points entirely from Trump's web site: