ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 20 08:11

WE'RE #1 !

US Healthcare: Consumes 80% of World's Opioid Prescriptions

(*And if The Experts Would Kindly Explain How That DOES NOT Trace Back To Former Republican President George W Bush' Illegal Premptive Invasion Of The Nation Of Afghanistan , And How A Good Patriot Would Never Seek Indictments Against Members Of That Administration's War Crimes , And Their Elongigated After Effects , It Would Be Appreciated )

Jun 20 07:47

Iowa Obamacare Insurer Hiking Rates 43.5 Percent

Minnesota-based Medica, one of the few remaining insurance providers on the Iowa Obamacare exchanges, announced Monday afternoon that it will offer plans on the state exchanges in 2018, but proposed an average premium increase of 43.5 percent.

Jun 20 07:34

Amazon may replace cashiers at Whole Foods with a new automated payment system to slash costs in an effort make the high-end grocery chain more accessible

Amazon is looking to reduce costs at Whole Foods with a new automated checkout system that would render thousands of cashiers redundant, it has been reported.

Carmen Clark, 37, an employee at the Mount Pleasant Whole Foods, said, 'Everybody's been kind of joking that it's going to be robots and drones,' after the Amazon bought the grocery chain for $13.7 billion.

It turns out Clark wasn't that far off, since Amazon is trying to reduce prices by replacing cashiers with a new mobile payment system, according to a person familiar with the company's plans who spoke to Bloomberg.

Jun 20 06:41

Is Amazon/Whole Foods This Cycle’s AOL/Time Warner – A Sign That The Party’s Over?

Towards the end of the 1990s tech stock bubble, “new media” – i.e., the Internet — was ascendant and old media like magazines, newspapers and broadcast TV were yesterday’s news. This was reflected in relative stock valuations, which gave Internet pioneer AOL the ability to buy venerable media giant Time Warner for what looked (accurately in retrospect) like an insane amount of money.

Jun 20 04:37

What Is the Market Telling Us?

The entire global economy now depends on this stripped-of-information "market" for its stability.

Jun 19 19:08

The Illusion Of Declining Debt To Income Ratios

In some states, when a couple enters into divorce, the court may award “alimony,” or spousal support, to one of the former spouses for the express purpose of limiting any unfair economic effects by providing a continuing income to the spouse. The purpose is to help that spouse continue the “standard of living” they had during the marriage.

Jun 19 16:36

The stock market will collapse within a year!

Jun 19 16:11

The US Government Clamps Down on Ability of Americans To Purchase Bitcoin

You have to feel sorry for Americans. They are some of the most financially enslaved people in the world.

Jun 19 15:39

‘When I say cut taxes, I don’t mean fiddle with the code. I mean abolish the income tax and the IRS, and replace them with nothing’

The quote in the headline comes from Ron Paul, and it should be the goal of every conservative lawmaker in the entire country.  When professional politicians tell you that they are in favor of reforming the tax code or reducing taxes a little bit, essentially what they are telling you is that they are perfectly fine with the status quo. 

Jun 19 15:36

Democracy Is A Front For Central Bank Rule

Several years ago when the Federal Reserve had its Fed funds rate at zero to 25 basis points (one-quarter of one percent—0.25%), there was a great deal of talk, somehow presented as urgent, whether the Federal Reserve would raise interest rates.

Jun 19 15:20

Amazon to Slash Jobs at Whole Foods, Dump Cashiers, Switch to Cheaper Products in Price War with Wal-Mart

Here’s something Wal-Mart could do to Amazon, just to be nasty.

Jun 19 15:18

A dangerous mess: The UK's housing crisis

In 1915 in Govan, just south of the river Clyde in Glasgow, bands of women torpedoed flour bombs at creeping eviction enforcers from the towering windows of their tenements. Exasperated by increasingly predacious landlords and the rising rate of evictions for those that couldn’t make their rent, and armed with a sound understanding of the sticky power of flour in the UK’s rainiest city, the women organised. A carefully coordinated eight month rent strike followed, and working class women paved the way for the Rent Restrictions Act 1915, Britain’s first form of rent control.

Jun 19 14:02

Dr. Ron Paul: President Donald Trump's Plan to Extend the Debt Bubble

. If Trump gets his way, as much as $2 trillion in funds will be "unlocked" for banks to lend out. Banks were forced to "lock" those funds away after the last financial crisis. Is this how banking is supposed to work? By the dictates of central planners? And what will $2 trillion in loans to an already deeply indebted American public produce?

Jun 19 13:04

Whilst the Fed increases the interest rates, Russia is slashing them again

Not everyone (ourselves included) was convinced the Federal Reserve would increase its interest rates in June, but the FOMC has indeed hiked the benchmark rates by 0.25%. On top of that, it’s now increasingly likely we will also see the Fed starting to reduce the size of its balance sheet although it might take a while before the central bank starts to unload its securities at a more aggressive pace.

Jun 19 12:18

They know: the Eurozone would plunge into a sovereign debt crisis all over again, only worse this time.

These days it’s easy to tell when general elections are approaching in Germany: members of the ruling government begin bewailing, in perfect unison, the ECB’s ultra-loose monetary policy.

Jun 19 11:54

Tough Time for Automakers, Great Time to Buy a Car?

Wolf Richter Talks Shop: “Carmageddon” and tips on buying a car.

Jun 19 11:54

Petrodollar doomed as Qatar breaks ranks and sells its oil in Yuan

The crisis in Qatar marks a major turning point in the battle against the Khazarian mafia. Ostensibly Saudi Arabia and other oil exporting states decided to try to blockade Qatar “because it was supporting terrorism.” In reaction to this move, US President Donald Trump showed the world he was not in charge of the US by first supporting the blockade and then being forced by the Pentagon to change his stance 180 degrees the next day. What is really going on here is that Qatar reached a deal with Iran to export gas from its massive gas fields not West in exchange for worthless Euros or US dollars but rather East to places like India and China in exchange for their currencies.

The US House of Whores, oops! I mean House of Representatives. reacted to this development by passing new sanctions against Russia that basically amounted to telling Europe to buy expensive American gas instead of cheap Russian gas. The Germans and Austrian reacted by telling the Americans to buzz off.

Jun 19 11:10

Are Russia And The Saudis Planning A Natural Gas Cartel?

At the same time, Russia and Saudi continue to give indications of a possible OPEC 2.0 scenario, in which a possible Russian membership is on the table. This would confront the market with a renewed and stronger oil cartel, although the overall strategies need to be adjusted. At the same time, Saudi Arabia, via its oil giant Aramco has openly stated to be interested in global gas investment opportunities, starting in Russia’s Siberian region. While the media still looks at the current discussions as a pure crude oil cooperation strategy, some see another development on the horizon. The real power of OPEC, non-OPEC cooperation would increase if they would not only include a crude oil production cut, but also integrate the other (hidden) cartel, the Gas Exporting Countries Forum (GECF). An OPEC 2.1, including gas exporters, would really block any negative developments in the market, even shale oil and gas.

Webmaster's Commentary: 

This certainly could be a game-changer, economically, for both countries.

Jun 19 10:27

Democracy Is a Front for Central Bank Rule

Inflation aside, in fact interest rates declined, as my sometime co-author Dave Kranzler reports. http://investmentresearchdynamics.com/has-the-fed-actually-raised-rate...
Despite this publicized “rise” of the Fed funds rate, the 10-year interest rate on Treasuries “has declined 30 basis points this year. Thus for certain borrowers, the Fed has effectively lowered the cost of borrowing.”

Kranzler goes on to point out that

“the spread between the 30-day Treasury Bill and the 10-yr Treasury has declined this year from 193 basis points to 125 basis points – a 68 basis point drop in the cost of funding for borrowers who have access to the highly engineered derivative products that enable these borrowers to take advantage of the shape of the yield curve in order to lower their cost of borrowing.”

Jun 19 10:15

Retail Apocalypse Engulfs US Economy — Shutters 23,000 stores, and that’s just the first destructive wave!

You may not see it yet, but the scale of the retail apocalypse is so massive that it is about to engulf the US economy. As when a flood tide has crept around you on all sides while you were standing on a high spot out on the flats, not paying attention, you can look up now and see it all around you, and it is coming in rapidly. You can now feel the current under your toes.

Jun 19 10:10

Senate Bill to Force Citizens to Register Cash Not in a Bank, Violators Get 10 Years in Prison

A new bill seeks to track your money and assets incessantly, will enjoin any business with government ties to act as a de facto arm of DHS, and would steal all of your assets — including Bitcoin and other cryptocurrencies — should you fail to report funds when traveling with over $10,000.

Under the guise of combating money laundering, Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” ramps up regulation of digital currency and other autocratic financial controls in an attempt to ensure none of your assets can escape one of the State’s most nefarious, despised powers: civil asset forfeiture.

Jun 19 09:48

Stunning Footage Of American's Crumbling Infrastructure

It’s no secret that America’s infrastructure is in dire need of repairs. Earlier this year, America received her infrastructure report card from the American Society of Civil Engineers’ and received a repulsive D+. The ASCE guesstimates the US would need to spend $4.5 trillion by 2025 on infrastructure.

Webmaster's Commentary: 

Remember Obama's "You didn't build that?" The idea was that the government made the nation rather than the people.

They did a swell job, didn't they?

Jun 19 09:48

Turkey Wants to Continue Accession Talks With European Union

Turkish Prime Minister Binali Yildirim said that Ankara is willing to pursue the talks with the European Union on getting full membership in the bloc and renew the Customs Union agreement with Brussels.

MOSCOW (Sputnik) — Ankara is willing to pursue the talks with the European Union on getting full membership in the bloc and renew the Customs Union agreement with Brussels, Turkish Prime Minister Binali Yildirim said.

"Turkey is willing to pursue full membership talks with the EU and renew the Customs Trade [deal]," Yildirim said at a joint press conference on Monday with his Bulgarian counterpart Boyko Borisov in Ankara as quoted by the Anadolu news agency.

The Turkish minister stressed that the European Union had to "revise its future vision" and then make relevant decisions on the talks with Ankara.

Webmaster's Commentary: 

The question is, after the failed coup attempt in Turkey,and Erdogan having gone full tilt-buggie dictator over his own people, does the EU really want Turkey as a member?!?

Jun 19 09:25

RADIOACTIVE WASTE FLOWING FREELY INTO COLUMBIA RIVER BECAUSE THERE’S NO MONEY TO STOP IT

A member of the U.S. Environmental Protection Agency recently informed the public that radioactive waste from the decommissioned Hanford nuclear power plant is ‘flowing freely’ into the Columbia river.

The mighty Columbia river is the largest river in the Pacific Northwest region of America, flowing down from Canada, winding through eastern Washington state and along the border between Oregon, ultimately moving through downtown Portland and into the Pacific. The Hanford site, located near Kennewick, WA is up river from a million or so people, not to mention the wildlife.

Constructed in the 1940’s as part of the Manhattan Project, the plant was decommissioned after the Cold War, leaving behind some 53 million gallons of high level radioactive waste. Proposed as a Superfund site in 1988, Hanford is an uncontrollable ecological and public health disaster.

As noted in the list of national Superfund sites:

Webmaster's Commentary: 

The poisoning of this nation goes on unabated, and no one in DC seems to give a damn!

I have to wonder what the cancer rates are in the areas affected, but I believe some cancer clusters have been classified, due to the sensitive nature of what polluters were creating to fulfill defense contracts.

Where the hell is Erin Brokovich when you really, really need her?!?

Because right now, for people in the Pacific Northwest, they need her like crazy!!

Jun 19 09:03

Nord Stream 2: Will Germany part from US hegemony?

The unprecedented demarche of the Ministers of Foreign Affairs of Austria and Germany unusually harshly criticized the draft law on new anti-Russian sanctions. This shows that the relationship between Washington and Brussels has entered a new era, writes Kommersant publication.

Jun 19 09:03

Treasury Secretary Mnuchin Wants to Put a Bigger Blindfold on Consumers

Wall Street’s fingerprints are all over the Treasury recommendations

Jun 19 08:53

Germany Issues Stinging Rebuke of US Sanctions Against Russia

Germany’s Foreign Ministry published a sharply-worded press release Thursday from Foreign Minister Sigmar Gabriel (Social Democrats, SPD) and Austrian Chancellor Christian Kern (Social Democrats, SPÖ) denouncing the United States’ foreign and economic policies.

Jun 19 08:39

Retail Apocalypse Engulfs US Economy

Jun 19 08:32

Germany threatens retaliation if US sanctions against Russia harm European firms

Germany threatened on Friday to retaliate against the United States if new sanctions on Russia being proposed by the US Senate end up penalizing German firms.

Jun 19 08:24

Empire Files: Venezuela Economy Minister—Sabotage, Not Socialism, is the Problem

Jun 19 08:17

1 million UK bank customers forced to use new codes

Almost 1 million UK bank customers will be forced to have to use new six-digit sort codes as the high street lenders implement rules intended to make the financial system safer, a Bank of England official has said.

Jun 19 08:12

Fear of Contagion Feeds the Italian Banking Crisis

At first, deny, deny, deny. Then taxpayers get to bail out bondholders.

Jun 19 07:54

Warren Pollock – MSM Propaganda Allows D.C. Looting to Continue, Bitcoin is High Reward & High Risk

Geopolitical and financial analyst Warren Pollock gives his thoughts on the chaos going on in Washington, D.C. Pollock says it’s like the fake fighting of a TV wrestling match.

Jun 19 07:49

Bitcoin Phase Transition

Jun 19 06:22

400 Burger Per Hour Robot Will Put Teenagers Out Of Work

Just a quick heads up, high school students. You might want to save your job application efforts for retail gigs, because the fast food space is about to be invaded by robots.

We already showed you an autonomous grillmaster that can monitor and flip an entire grill full of patties. Today’s bot is even more versatile. Not only can it cook the patty, but it can also dice up fresh toppings like tomatoes, pickles, and onions… and it can even deftly stack everything on a toasted bun.

Jun 19 06:18

Report estimates cost of disruption to GPS in UK would be £1bn per day

The UK stands to lose £1bn per day in the event of a major disruption to the Global Positioning System (GPS), according to a government report.

Emergency services would also be severely affected and struggle to cope with demand. Longer emergency calls, less efficient dispatch, navigation, and congested roads would mean a total estimated loss of £1.5bn, the report said.

Besides navigation, many industries are reliant on GPS software for swathes of critical applications such as financial trading and precision docking of oil tankers.

Jun 19 05:02

Stockman: This Is The Most Hideously Overvalued Market In History

David Stockman joined Fox Business on Varney & Co. to discuss why he believes the current markets are setting up investors for a big drop.

Jun 18 19:53

PetroChina Cuts Fuel Oil Floating Storage

Jun 18 19:32

The West Can't Smell What Eurasia is Cooking

A tectonic geopolitical shift happened in Astana, Kazakhstan, only a few days ago, and yet barely a ripple registered in Atlanticist circles.

At the annual summit of the Shanghai Cooperation Organization (SCO), founded in 2001, both India and Pakistan were admitted as full members, alongside Russia, China and four Central Asian stans (Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan).

So now the SCO not only qualifies as the largest political organization by area and population “ in the world; it also unites four nuclear powers.

Jun 18 15:38

We're in a Boiling-Point Crisis of Exploitive Elites

The "fixes" to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt--all have run out of steam.

Jun 18 13:03

Global Liquidity Reaching a Tipping Point

Jun 18 10:38

New Cold War in the Indian Ocean

A new Cold War is brewing in the Indian Ocean, with an informal alliance of the United States, India, Australia, Japan on one side and China on the other. While tensions in the ocean are not yet as pitched as in the hotly contested South China Sea, the potential for conflict is unmistakably rising in the high stakes strategic theater.

Jun 18 10:29

Hawaii may become first US state to adopt basic income

An unprecedented bill supporting the idea of universal basic income (UBI) has been introduced in the American state of Hawaii.

The bill, titled House Concurrent Resolution 89, was brought by Hawaii State Representative Chris Lee and was passed by both houses of the state legislature in a unanimous vote.

The resolution declares that all the islanders “deserve basic financial security.”

It also orders government offices to weigh the state's economy and find ways to ensure all families have basic financial security, including an evaluation of different forms of a full or partial universal basic income.

Jun 18 09:54

Illinois State Official: "We Are In Massive Crisis Mode, This Is Not A False Alarm"

Last week we reported that as Illinois, a state which now faces over $15 billion in backlogged bills, struggles over the next two weeks to somehow come up with its first budget in three years ahead of a June 30 fiscal year end, and faces an imminent ratings downgrade to junk - the first ever in US state history - traders finally puked, sending the yield on its bonds surging after a judge ruled at the start of the month that the state is violating consent decrees and previous orders, and instructed the state to achieve "substantial compliance with consent decrees", further pressuring its financial situation.

Jun 18 09:53

Richest Americans Will Control 70% Of Country's Wealth By 2021, BCG Says

Being rich is great. But being rich in America? That’s even better.

With US stock benchmarks trading just below record highs, and Treasury yields not too far from the all-time lows reached last summer, the gulf between the world’s wealthy elite – those 18 million households worldwide with more than $1 million in assets – and everybody else is rapidly widening.

According to a new study by Boston Consulting Group via Bloomberg, these households - with a total head count of roughly 70 million people, or about 1% of the world’s population - control 45 percent of the $166.5 trillion in wealth. By 2021, they will control more than half, suggesting that, while wealth inequality in the rest of the world is simply accelerating, in America, it’s gone into overdrive. Right now, 63 percent of America’s private wealth in the hands of U.S. millionaires and billionaires, BCG said. By 2021, their share of the nation’s wealth will rise to an estimated 70 percent.

Jun 18 09:53

Venezuela's 'Goldman Bounce' In Reserves Is Gone

As Bloomberg notes, the country’s cash hoard has fallen $326 million this week to $10.2 billion, near the 15-year low reached last month before the windfall.

Investors follow the level intently, trying to gauge how much time Venezuela has left before its dollar shortage results in a default.

Jun 18 09:34

Trade Between Russia, EU Rose by 32% in January-April

The turnover of foreign trade between Russia and the European Union in January – April amounted to $77.2 billion, a growth level of 32.3 percent year-over-year, according to data published by Russian Federal Customs Service (FCS) Friday.

Jun 18 09:15

London fire: A tale of two tower blocks

London is increasingly becoming a city of high-rise living. There are more than 700 tower blocks, ranging from brand new luxury developments to the post-war council-owned buildings seen as a quick fix to cure problems caused by crumbling and unsanitary 19th Century hovels.

Jun 18 09:04

THE GREAT MARIJUANA DEBATE -- YOUR LIFE MAY DEPEND ON IT

Good people don't smoke Marijuana" - *Attorney General Jeff Sessions

"Mr Sessions stands against an overwhelming majority of Americans and even, sadly, against veterans and other people who we now know conclusively are helped dramatically by Medical Marijuana". - *Congressman Dana Rohrabacher

"Medical Marijuana in it's natural form is one of the safest, therapeutically active substances known to man."- *DEA Judge Francis Young- 1988

Webmaster's Commentary: 

There are two possibilities here.

Either Jeff Sessions is a complete, blithering idiot on the subject of marijuana safety, or his opinion has been "purchased" by the alcohol and pharmaceutical industries.

There is no middle ground here.

Jun 18 08:44

Rickards: Bitcoin vs. gold

Jun 18 05:57

Growth Indicator tanking

Jun 17 22:34

Levels of child hunger and deprivation in UK among highest of rich nations

The UK has some of the highest levels of hunger and deprivation among the world’s richest nations, according to a wide-ranging United Nations assessment of child health and wellbeing.

The Unicef report ranks 41 high-income countries against 25 indicators tracking progress against internationally agreed goals to end child poverty and hunger, promote health, ensure quality education, and reduce inequality.

It concludes that the majority of rich countries are going backwards on inequality indicators as gaps between rich and poor widen, with many performing poorly in key areas of child health, notably as a consequence of rising obesity rates.

“Income inequality is growing, adolescents’ mental health is worsening, and child obesity is growing,” the report states.

Jun 17 15:21

PetroDollar System In Trouble As Saudi Arabia Continues To Liquidate Foreign Exchange Reserves

The U.S. PetroDollar system is in serious trouble as the Middle East’s largest oil producer continues to suffer as the low oil price devastates its financial bottom line.  Saudi Arabia, the key player in the PetroDollar system, continues to liquidate its foreign exchange reserves as the current price of oil is not covering the cost to produce oil as well as finance its national budget.

Jun 17 14:45

Bitcoin BUBBLE Warning: It's gonna crash!

Jun 17 13:51

The Fed is Working Against Trump

The Federal Reserve is joining the Deep State by not doing President Trump any economic favors. This week, the Fed voted to raise the benchmark interest rate again by another one-quarter of a percent – the third rate increase this year – and indicated that they may raise it yet again before year’s end.

Jun 17 12:43

Trailer The Uncertainty Has Settled

Soon to be released documentary about the economic impact of climate hysteria on farmers in Europe, mainly Germany. Once highly praised Dutch filmmaker is now ostracized and demonized for being objective about the "wrong" subject.

Update: oops no English subtitles, my bad, had not noticed. There will be though once the doc is released. Sorry!

Jun 17 12:03

Everytime This Economic Indicator Inverts We Are Headed For An Economic Disaster

The elite are now pushing the agenda to get Trump anyway they can, it doesn't matter if the stories are true or not, they want him out. US and China will be meeting to discuss the North Korean issue.

Jun 17 11:43

1 million UK bank customers forced to use new codes

Almost 1 million UK bank customers will be forced to have to use new six-digit sort codes as the high street lenders implement rules intended to make the financial system safer, a Bank of England official has said.

Jun 17 10:42

The War on Yemen and the Senate Vote on the Saudi Arms Sale

The good news from Tuesday’s vote is that there is now much broader opposition to selling weapons to the Saudis when there is every reason to expect that those weapons will be used in Yemen. Sens. Murphy, Paul, and Franken have done great work in persuading many more of their colleagues to oppose such sales, and if they can continue to bring more senators over to their side the Senate may well block one of these sales before long. A close vote on this issue makes it much more likely that there can be a real debate over U.S. support for the atrocious and unnecessary Saudi-led war.

Webmaster's Commentary: 

There is no good news for the people of Yemen, and the Unhinged Surveilled States of America's "deep state"is still supporting Saudi Arabia's attempt to push back against the Houthi rebels, and forcefully reinstall the US government's puppet, Mansour Al-Hadi, by whatever means necessary.

This has translated into the following for the Yemeni people.

1. Yemeni children are getting killed and maimed for life.

Images: Yemeni children getting killed and maimed for life by Saudi air strikes

2. Because Saudis, with US military assistance, are blocking Yemeni ports, so no food can get in, Yemeni children are starving to death from malnutrition.

Horrifying images of starving children reveal the ongoing toll of Yemen's forgotten war.

3. Because of this malnutrition, Yemeni children are dying of cholera, and other preventable diseases.

Images: Yemeni children dying of cholera

Oh, and did I mention that Saudi Arabia is using depleted uranium weapons in Yemen?!?

Images: Saudi Arabia using chemical weapons in Yemen

These depleted uranium weapons are having the same effect that the use of these weapons did on pregnant women, and their children (and on US service members and their families) did in Falluja, Iraq, which meant massive stillbirths, cancers, and horrific physical mutations:

Image: massively deformed baby whose mother was poisoned through exposure to depleted uranium weapons.

When the intended consequences of a military campaign is the deliberate slaughter of children, through direct shelling; creating malnutrition and disease; and chemically poisoning them in the womb, as is happening through the joint US/Saudi war crimes in Yemen, you destroy the future of that country; ask the Palestinians, they are pretty familiar with that.

2016 'deadliest year' for West Bank children in decade

I am frankly appalled at just how morally comfortable the Royal House of Saud, the US Government, and the Saudi Government, collectively, appear to be with this genocide.

I, however, am very morally uncomfortable, being a citizen of a country which is actively, and aggressively, colluding in war crimes,and particularly war crimes of this magnitude.

Jun 17 09:20

The West Can't Smell What Eurasia is Cooking

A tectonic geopolitical shift happened in Astana, Kazakhstan, only a few days ago, and yet barely a ripple registered in Atlanticist circles.

At the annual summit of the Shanghai Cooperation Organization (SCO), founded in 2001, both India and Pakistan were admitted as full members, alongside Russia, China and four Central Asian “stans” (Kazakhstan, Uzbekistan, Kyrgyzstan and Tajikistan).

So now the SCO not only qualifies as the largest political organization – by area and population – in the world; it also unites four nuclear powers. The G-7 is irrelevant, as the latest summit in Taormina made it clear. The real action now, apart from the G-20, also lays in this alternative G-8.

Jun 17 09:12

Weighing The Evidence In Market Breadth

A look at the Equal Weight S&P 500 has something for both the bulls and the bears.

Jun 17 08:55

Watch: Anti-CNN Protest In Atlanta

Demonstrators in Atlanta protested CNN and fake news

Jun 17 08:34

Housing Starts Suffer Worst Streak Since Jan 2009, Permits Plunge

For the first time since Jan 09, Housing Starts dropped for the 3rd month in a row in May, drastically missing expectations (-5.5% vs +4.1% exp.) with both March and April revised notably lower. Building Permits also tumbled in May and massively missed expectations (-4.9% vs +1.7% exp.).

No one saw it coming...

Jun 17 08:32

Amazon, the Death of Brick & Mortar, Buys into Brick & Mortar

Shares of Whole Foods soar, but other grocery sellers get crushed.

Jun 17 07:26

When Does Amazon Become a Monopoly?

Jun 17 00:15

after the financial collapes.. who get's the assets?

is it corporate creditors (Rothschild's) in other nations or.... is it native american indians tribes.. that will get the spoils of the u.s.a inc's bankruptcy..

with an internationally accepted deed of ownership. the tribes can divi it up according to their traditional areas. we cowboys can rent the land from the tribes.. and have a lot better system than what we have got now for a government..

Jun 16 17:59

College Degrees Are Becoming Useless

These trends are unsustainable. The higher education system seems to be suffering from both economic and cultural issues, but these two types of problems often cause each other in a feedback loop. The ultimate cause for both of them is political.

Jun 16 15:31

5 Central Banks Hold the Global Economy in Their Hands

Following the 2008 crisis, the Federal Reserve wasn’t the only central bank to implement extreme measures in an effort to prop up an economy. In fact, the Fed’s example led other global central banks to do the same. As a result, the five largest central banks now hold the global economy in their hands.

Jun 16 15:14

1 million UK bank customers forced to use new codes

Almost 1 million UK bank customers will be forced to have to use new six-digit sort codes as the high street lenders implement rules intended to make the financial system safer, a Bank of England official has said.

James Proudman, a senior regulator in Threadneedle Street, said the estimate from high street banks included retail and corporate customers.

Jun 16 14:45

Top Economists Predict The Housing Crash Is Coming! Prepare For The Imminent Economic Collapse And Stock Market Crash Worse Than 2008, The Disaster Is Here – Elite Will Soon Prevent You Accessing Your Own Money!’

The Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. The Federal Reserve has set up the American economy for financial collapse for printing trillions of dollars back in 2008 and 2009.

Jun 16 13:56

Even Google Employees Can No Longer Afford Housing in San Francisco

Every now and then a story appears in the national media that causes a lightbulb to start flashing incessantly in my head. For me, such story came to my attention today and relates to how Google is manufacturing housing for some of its employees due to the ridiculous cost of housing in the San Francisco Bay Area.

Jun 16 13:43

Irony at its best: Anti-capitalist professor belongs to the top 2%

Recently published information reveals that Erik Olin Wright, a professor who teaches a course bashing capitalism at the University of Wisconsin, earns an annual salary of $170,000.

Jun 16 13:35

Grocery stocks crashing after Amazon buys Whole Foods

Whole Foods stock was halted for ‘news pending’… and now we have the answer – Amazon to acquire Whole Foods Market for $42/share in an all-cash transaction valued at ~$13.7b, including Whole Foods Market’s net debt.

Jun 16 12:57

Jim Rickards: Expect a shock devaluation in Chinese yuan after October

The 19th National Congress of the Communist Party of China, CCP, will be held in the fall of 2017. The exact date has not yet been announced, but late October is a reasonable estimate. This will be the most important CCP meeting since the death of Mao Zedong and the rise of Deng Xiaoping in the late 1970s.

Jun 16 12:27

It’s Not Just Oil Prices Deflating

The drop in oil prices has gotten most of the attention, but commodities across the board have been selling off.

Jun 16 12:25

Has the state of Illinois gone broke?

The state of Illinois has not passed a budget for close to three years.

Jun 16 12:09

Carmageddon Crashes into “the Recovery” Right on Schedule — EXACTLY as Predicted Here

Carmageddon, as Wolf Richter has called it, is hitting the US economy exactly as I said a year and a half ago would start to happen at the very end of 2016 or the start of 2017.

Jun 16 11:40

Germany's Angela Merkel slams planned US sanctions on Russia

German Chancellor Angela Merkel shares concerns that proposed new US sanctions against Russia could hurt European companies, her spokesman says. He called the plans "peculiar."

Jun 16 11:15

The 10 Most Valuable Telecom Companies in the World

Telecommunications have become a very important part of our lives. In fact, studies show that the average smartphone user interacts with their phone for more than 145 minutes a day, according to researcher Dscout.

Jun 16 09:44

What Happens When the Machines Start Selling?

The death of fundamental analysis.

Jun 16 09:40

Why the Road to European Unity, Prosperity Goes Through Moscow

Now that Europe has been left to its own devices by Donald Trump's America, the two most powerful EU states – France and Germany – are facing the dilemma of how to maintain the bloc's unity. According to political scientist Rostislav Ischenko, Russia could become a sort of political-military "crutch" which will prevent the EU from falling apart.

Jun 16 09:38

Can We See a Bubble If We're Inside the Bubble?

We want this time to be different so badly, we can almost taste it.

Jun 16 09:33

WHISTLEBLOWER: "ALL MISERY ON EARTH IS A BUSINESS MODEL"

Dutch banking whistleblower Ronald Bernard is back

Jun 16 09:33

LAWSUIT ACCUSES PRIVATE PRISON COMPANY OF ILLEGALLY FUNDING A TRUMP SUPER-PAC

It’s no secret that President Donald Trump has been very good for private prison executives. After the Justice Department announced earlier this year that it would continue using private lockups—a reversal of an Obama policy announced in 2016—prison companies’ stock prices soared. Now, a campaign finance watchdog is suing to figure out whether one of these prison companies influenced the Trump administration’s policy reversal by donating large sums to a pro-Trump super-PAC during the 2016 presidential campaign.

Webmaster's Commentary: 

This is troubling.

But the worst part of this is, neither public nor private prisons work; that is because, conceptually, they are based on failed, stupid, and broken notions of what prisons are supposed to do, which cannot possibly prepare former prisoners for returning successfully to the outside world. Therefore, the lack of rehabilitation causes US recidivism to skyrocket.

The American penal system has never quite been able to distinguish between "punishment" and "rehabilitation".

Other, much more enlightened countries, like Sweden, are thoroughly focused on prisoner rehabilitation, so when they are released, there is far less recidivism in the former prison population.

Jun 16 08:43

Tech Bubble BURSTING: Share prices of Google, Facebook, Amazon and Apple crash AGAIN

Worried investors have rushed to exit the companies after a sell-off which started almost a week ago continues.

Google parent Alphabet's share price has dipped by as much as six per cent during this time, while Facebook and Amazon stock has seen similar rollercoaster movements.

Apple's share price has been even more volatile falling up to eight per cent in this period, while Netflix lost as much as nine per cent.

Jun 16 08:12

The $13 Billion Aircraft Carrier That Has Trouble With Planes

The newest and costliest U.S. aircraft carrier, praised by President Donald Trump and delivered to the Navy on May 31 with fanfare, has been dogged by trouble with fundamentals: launching jets from its deck and catching them when they land.

Now, it turns out that the system used to capture jets landing on the USS Gerald R. Ford ballooned in cost, tripling to $961 million from $301 million, according to Navy documents obtained by Bloomberg News.

While the Navy says the landing system has been fixed, the next-generation carrier built by Huntington Ingalls Industries Inc. still hasn’t been cleared to launch F/A-18 jets carrying a full complement of fuel tanks under their wings, a handicap that could limit their effectiveness in combat.

Jun 16 07:05

Retail Sales Tumble Most Since January 2016 As Gasoline, Electronics Sales Slump

So we have stock markets reaching new all-time highs on a daily basis. We also know, based on all historically accurate valuation methods, stocks are overvalued by 70% to 120%.

Jun 16 06:20

We Are Getting Very Close To An Inverted Yield Curve – And If That Happens A Recession Is Essentially Guaranteed

If something happens seven times in a row, do you think that there is a pretty good chance that it will happen the eighth time too? Immediately prior to the last seven recessions, we have seen an inverted yield curve, and it looks like it is about to happen again for the very first time since the last financial crisis.

Jun 15 14:45

When The System Thwarts Sincere, Hard-Working People, The System Has Failed

The net result is the organization fails its mission even as it adds employees and expands its budget and regulatory powers.

Jun 15 14:29

FLASHBACK 2015 - Lottery winners in Illinois get IOUs for prizes over $600

You can play the lottery in Illinois these days, but you just can't win much.
The cash-strapped state said on Thursday that it can't pay out anything over $600 for the time being. For a ticket worth more than that, winners get an IOU that won't be paid off until the state government resolves its long-running budget crisis.

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