ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 27 07:16

John Lewis warns that profits for first half of 2018 will fall 'close to zero' as it swings the axe on five Waitrose stores

The John Lewis Partnership, which operates the department store and upmarket grocery chain Waitrose, warned today that profits for the first half of this year will be 'close to zero' amid a 'major shift' for the High Street.

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In a scheduled strategy update, the retailer said earnings for the full year will likely be 'substantially' lower than last year too, when it reported a 77 per cent fall in pre-tax profit to £104m.

Jun 26 23:05

Oklahoma Voters Approve Medical Marijuana Legalization

Looks like they smoke Marijuana in Muskogee.The Original Redneck State legalizes medical pot.

Voters in Oklahoma appear to have passed one of the nation’s most permissive medical marijuana laws in the nation, becoming the 30th state to legalize cannabis for medical use.
The Associated Press called the race shortly after 9:20 p.m. local time Tuesday night. With 1,591 of 1,951 precincts reporting according to the state election board, State Question 788 led at the ballot box, 56.3%–43.7%.

Jun 26 18:22

A six-figure salary is considered 'low income' in San Francisco, and the threshold is rising

To be considered "low income" in San Francisco, San Mateo and Marin counties, a family of four must earn $117,400 a year. "Very low income" is considered $73,300.

The Bay Area figures are the highest in the country and continue to increase year over year. Income limits in some Bay Area cities increased by 10 percent just in the last year.

Most residents will roll their eyes at such figures — they're used to seeing the cost of rent and home ownership increase with the years. In May, the median home price in the Bay Area hit a record high at $935,000.

Jun 26 15:21

The Economic Impact of Violence

Jun 26 14:17

The Fed Just Released Big News Regarding The Collapse, But No One Noticed

The Supreme Court totally rejected everything the US was built upon, no taxation without representation. New Homes surge in only one area the South, the rest of the country new homes plunged. Europe warns of an upcoming trade collapse.

Jun 26 13:57

Expectant Parents, Read Your Bills!

Jun 26 12:01

ALTERING HUMAN GENETICS THROUGH VACCINATION

The National Institute of Allergy and Infectious Diseases (NIAID) has launched efforts to create a vaccine that would protect people from most flu strains, all at once, with a single shot.

Over the years, I’ve written many articles refuting claims that vaccines are safe and effective, but we’ll put all that aside for the moment and follow the bouncing ball.

Massachusetts Senator and big spender, Ed Markey, has introduced a bill that would shovel no less than a billion dollars toward the universal flu-vaccine project.

Here is a sentence from an NIAID press release that mentions one of several research approaches:

“NIAID Vaccine Research Center scientists have initiated Phase 1/2 studies of a universal flu vaccine strategy that includes an investigational DNA-based vaccine (called a DNA ‘prime’)…”

This is quite troubling, if you know what the phrase “DNA vaccine” means. It refers to what the experts are touting as the next generation of immunizations.

Webmaster's Commentary: 

I have absolutely no intention of allowing my genetic structure to be changed with this IGT technology, period, end of discussion.

Jun 26 11:56

RUSSIA DUMPS $47 BILLION OF US SECURITIES, MASSIVELY BUYING GOLD

In a further sign the US is losing the dominance of the world’s economic system which it has enjoyed since the end of World War 2, Russia is massively divesting from US securities.

In April, Russia dumped $47 billion in US bonds – roughly half of the US debt it holds.

US President Trump’s escalating tariff war, plus ever-expanding US sanctions on Russia, could also be contributing factors to Moscow’s decision to increasingly ditch dollars.

In exchange, Russia is turning to an ancient and time-tested store of value: gold.

The question is, as the US trade war with China escalates, will Beijing follow suit?

Here’s more from RT:

US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds.

Webmaster's Commentary: 

This could very badly impact the value of the US debt bonds for other countries looking to get away from the dollar as well.

Jun 26 11:56

RUSSIA DUMPS $47 BILLION OF US SECURITIES, MASSIVELY BUYING GOLD

In a further sign the US is losing the dominance of the world’s economic system which it has enjoyed since the end of World War 2, Russia is massively divesting from US securities.

In April, Russia dumped $47 billion in US bonds – roughly half of the US debt it holds.

US President Trump’s escalating tariff war, plus ever-expanding US sanctions on Russia, could also be contributing factors to Moscow’s decision to increasingly ditch dollars.

In exchange, Russia is turning to an ancient and time-tested store of value: gold.

The question is, as the US trade war with China escalates, will Beijing follow suit?

Here’s more from RT:

US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds.

Webmaster's Commentary: 

This could very badly impact the value of the US debt bonds for other countries looking to get away from the dollar as well.

Jun 26 11:52

HEPATITIS SPIKES AS POVERTY AND ISOLATION GRIP THE HOMELESS AND FORGOTTEN

DETROIT — The first signs that something was amiss surfaced in the weeks before the 2016 election, when public-health officials began to notice one patient after another walking into a clinic, or hospital emergency room in the Detroit metropolitan area complaining of the same symptoms: nausea and vomiting, pains in their stomach and joints, fatigue, fever, loss of appetite, yellowing of the skin and eyes, dark urine, and pale-colored feces.

It didn’t take long for the medical community to hone in on the culprit: hepatitis A.

Webmaster's Commentary: 

These numbers.... are truly awful!!

Jun 26 11:38

Forget Iran Nukes, This Is The Worst Deal Anyone Ever Made...

Back in January 2000, AOL bought Time Warner for $162 billion, which was considered an astonishing amount of money back then.

Their goal was to create a tech/media giant. And they failed miserably.

Time Warner was having a difficult time establishing an online presence, so they thought they would benefit from AOL’s 26 million dial-up subscribers.

And AOL, the leader in “online” at the time, was supposed to benefit from Time Warner’s cable network and content.

At the time – peak dotcom madness – tech firms could do no wrong, and investors praised the ambitious merger.

But January 2000 was literally THE top of the market. The dot-com bubble burst almost immediately afterwards. Recession followed.

Jun 26 11:36

Foreign Minister Fears Iranian Currency COLLAPSE Over Nuclear Deal

On Sunday Iran’s Foreign Minister Mohammad Javad Zarif admitted to the Iran Chamber of Congress that the collapse of the 2015 nuclear deal would have “very dangerous consequences” for the country. President Donald Trump has withdrawn the United States from the deal he said was disastrous from the beginning.

According to Reuters, the Iranian rial [the currency] plunged to a record low against the United States dollar on the unofficial market on Sunday, continuing its slide amid fears of returning U.S. sanctions after President Donald Trump in May withdrew from a deal on Tehran’s nuclear program. The dollar was being offered for as much as 87,000 rials, compared to around 75,500 on Thursday, the last trading day before Iran’s weekend, according to foreign exchange website Bonbast.com, which tracks the unofficial market.”

Several Iranian media outlets had reported the same news.

Jun 26 11:35

Peter Schiff: ‘The US Dollar Will Crash And Burn’ Because Of Trade War With China

According to investor Peter Schiff, the dollar will only depreciate in the ongoing trade war with China. Schiff claims the notion of a “dollar shortage” because of the tariffs on Chinese goods is “complete nonsense.”

“The thinking is – at least when it comes to trade – is that the dollar is going to benefit from a trade war, which I think is wrong. I think it’s just as wrongheaded as the concept that the dollar is going to benefit from larger budget deficits,” Schiff said, according to Seeking Alpha.

Jun 26 11:33

US Economy Going Full Throttle 'Towards National Ruin'

The Trump administration may find itself amidst serious economic trouble with a steadily increasing federal deficit and national debt. In case Donald Trump is re-elected in 2020 he may have to deal with a $1 trillion deficit and a US debt-to-GDP ratio exceeding 100 percent.

The US economy may find itself in dire straits, unless measures are taken as soon as possible, the US Office of Government Accountability (GAO) warned the US Congress on June 21, 2018.

Jun 26 11:17

WELLS FARGO ACCUSED OF MISCONDUCT AGAIN

Wells Fargo is once again being accused of misconduct, this time because it allegedly used complex financial investments to take advantage of mom-and-pop investors.

The Securities and Exchange Commission said on Monday that between 2009 and 2013, Wells Fargo (WFC) reaped large fees by "improperly encouraging" brokerage clients to actively trade high-fee debt products that were intended to be held to maturity.

Wells Fargo Advisors, the bank's brokerage division, agreed to pay a $4 million penalty over its handling of the products, known as market-linked investments. The bank must also return $930,377 of ill-gotten gains — plus $178,064 of interest.

Wells Fargo, which neither admitted nor denied the SEC's allegations, said in a statement that it "cooperated fully" with the latest investigation.

Webmaster's Commentary: 

And yet, mysteriously, no one goes to jail here!!

More proof that according to the "American Way of Life" that the monied almost never eat their own.

Jun 26 11:17

Iran bans 1,300 imports as economic protest shuts shops in Tehran

Iran is to ban the import of more than 1,300 products amid fears about the impact of US sanctions. The announcement came as traders in Tehran staged a rare protest against rising prices and the fall of the currency to a record low.

Police patrolled the Grand Bazaar in the capital on Monday after security forces struggled to restore order after clashes with protesters, witnesses said. Many in the country are angry about the rial’s collapse, which is disrupting business by driving up the cost of imports.

Traders from the bazaar, whose merchants supported Iran’s 1979 Islamic revolution, said most shops remained closed.

Jun 26 10:38

Gold Exports To London From U.S. Surge 152% In 2018

As U.S. gold exports to Hong Kong and China fell 25% in the first four months of the year, London picked up the slack. According to the USGS, U.S. gold exports to London more than doubled from January to April, compared to the same period last year (see chart).

Interestingly, the amount of gold exported to London during this period nearly equaled the total U.S. domestic gold mine supply.

From the data reported in the USGS Gold Mineral Industry Survey’s, U.S. gold exports to the U.K. (London) jumped to 64.3 metric tons (mt) Jan-Apr, versus 25.5 mt during the first four months last year:

Jun 26 10:35

'Sky-high' executive salaries slammed by Swiss unions

A 2013 referendum that aimed to rein in sky-high executive salaries in Switzerland has failed to bring about the desired results.
That’s the conclusion of studies published by two of Switzerland's largest unions recently.

The research into executive salaries by unions Unia and Travail Suisse come five years after Swiss voters overwhelming backed an initiative which handed shareholders the final say on the compensation packages of CEOS and board members, making Switzerland the only country in the world where this is the case.

Jun 26 10:04

"Words Fail Me. It's Insanity": Inside Tesla's "Preposterous" Model 3 Production Tent

The tent was erected in just a matter of weeks, and came online in early June, to help the company produce more vehicles at a time when they are under the microscope. Until recently, we didn’t know the details as to when it was erected, what the timing looked like and what it is expected to produce. However, a Bloomberg article out today helped shed some light on the details of what is arguably the most important - if archaic - structure that Tesla has built yet.

Not surprisingly, opinions extend the whole gamut, with some manufacturing experts claiming the tent is "basically nuts":

Elon Musk has six days to make good on his pledge that Tesla Inc. will be pumping out 5,000 Model 3 sedans a week by the end of the month. If he succeeds, it may be thanks to the curious structure outside the company’s factory. It’s a tent the size of two football fields that Musk calls “pretty sweet” and that manufacturing experts deride as, basically, nuts.

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Jun 26 09:58

Over 45% of EU's Leading Businesses Cut Investment in UK Ahead of Brexit - Poll

More than 45 percent of leading European businesses have curtailed their investment in the United Kingdom ahead of the pending Brexit, a survey by the Baker McKenzie multinational law and consultancy company, issued on Monday, showed.

The report "Brexit and Business: The EU Outlook" looks into the impact of Brexit on 800 businesses of six major EU markets, such as France, Germany, Spain, the Netherlands, Sweden and Ireland.

"[A total of] 46% of respondents from EU27 businesses say that their company has reduced investment in the UK," the report said.

Jun 26 09:19

Yes, People Are Waking Up

Jun 26 08:51

Farmers in America are killing themselves in staggering numbers

"Think about trying to live today on the income you had 15 years ago." That's how agriculture expert Chris Hurt describes the plight facing U.S. farmers today.

The unequal economy that's emerged over the past decade, combined with patchy access to health care in rural areas, have had a severe impact on the people growing America's food. Recent data shows just how much. Farmers are dying by suicide at a higher rate than any other occupational group, according to the Centers for Disease Control and Prevention.

The suicide rate in the field of farming, fishing and forestry is 84.5 per 100,000 people—more than five times that of the population as a whole. That's even as the nation overall has seen an increase in suicide rates over the last 30 years.

Jun 26 08:11

Trump Threatens Taxes On Harley-Davidson 'Like Never Before' If It Moves Overseas

Harley-Davidson has been moving production overseas to places like India and Thailand for the last 10 years. They are going to use Trump's tariffs as their excuse. They were closing plants like in Kansas City months before the Tariffs. Their main market the Boomers,is tapped out. The Millenials don't have much money and when they do they buy Japanese crotch rockets. Harley didn't keep up with the times,so they will blame Trump!

It’s fair to say America’s most iconic motorcycle company has had enough damn problems lately well before it became President Donald Trump’s punching bag du jour. Harley-Davidson doubled-down on Baby Boomers to the point where it’s struggling with a declining and aging customer base, and now faces a plant closure and layoffs on top of sliding profits. Now the European Union has decided to target Harley for increased tariffs in response to Trump’s trade war, tariffs aimed right at the American heartland and the president’s base.

Jun 26 06:58

It’s the beginning of the end of the Bilderberg era

The beginning of the end of the Bilderberg/Soros vision is in sight. The Old Order will cling on, even to the last of its fingernails. The Bilderberg vision is the notion of multi-cultural, international cosmopolitanism that surpasses old-time nationalism; heralding the end of frontiers; and leading toward a US-led, ‘technocratic’, global economic and political governance. Its roots lie with figures such as James Burnham, an anti-Stalin, former Trotskyite, who, writing as early as 1941, advocated for the levers of financial and economic power being placedin the hands of a management class: an élite – which alone would be capable of running the contemporary state – thanks to this élite’s market and financial technical nous. It was, bluntly, a call for an expert, technocratic oligarchy.

Jun 25 18:43

The worst deal anyone ever made…

Jun 25 18:34

Defence spending rise needed to keep influence, say MPs

The UK will have to significantly increase defence spending if it is to maintain influence with Washington and Nato allies, MPs have warned.

A House of Commons Defence Committee report says the defence budget should rise from 2% of GDP to 3% (£60bn).

Defence Secretary Gavin Williamson has reportedly demanded an extra £20bn for his department.

A government spokesman said: "We have been clear we will continue to exceed Nato's 2% spending target."

Jun 25 15:30

India to buy Iranian oil with rupees in order to skirt US sanctions

Another country buying oil with something other than the USD

Jun 25 14:53

"No More Turning The Other Cheek": Chinese President Vows He'll Strike Back At The U.S.

Update: The Dow has extended its losses after Xi's threats and is now down 450 points as VIX spikes above 19...

Jun 25 13:22

Things Just Went Nuclear In Our Trade War With China, And A Giant Shockwave Is About To Hit The U.S. Economy

It is difficult to find the words to describe just how serious America’s trade war with China is becoming. As you will see below, the two largest economies on the entire planet are on a self-destructive course that almost seems irreversible at this point. The only way that this trade war is going to come to a rapid conclusion is if one side is willing to totally submit and accept an extremely bitter and humiliating defeat on the global stage, and that is not likely to happen. So in the short-term, and probably beyond that, we are going to experience a tremendous amount of economic pain. In fact, if one wanted to create a recipe for economic disaster, it would be hard to beat having the Federal Reserve dramatically raise interest rates at the exact same time that the U.S. government is starting trade wars with all of the other major economic powers simultaneously. Unless something drastically changes in the very near future, there is no way that the U.S.

Jun 25 12:32

Radio Host, Michael Rivero: Don't Count on Sustainable Recovery!

Jun 25 12:06

India devises way to bypass US sanctions, pay for Iran oil

The government is set to revive an alternative payment mechanism to settle a part of its payments for oil imported for Iran over the next few days in a bid to counter the impact of US sanctions imposed on Tehran.

While one option is to go back to the earlier barter-type arrangement that had the tacit approval of the US, the government is also looking at the option of routing the payment through a third country like Turkey, a senior government official told TOI . A similar arrangement had to be dropped when Iran faced sanctions the last time round, prompting the rupee-Iranian rial arrangement, where UCO Bank played a key role in helping Indian refiners such as MRPL and Essar Oil meet their requirements.

Jun 25 11:06

Argentina’s Peso Collapse Is A Warning Sign

Jun 25 09:58

US Futures Slump As Trump Drops New Bomb In Trade War; China Continues To "Weaponize" Yuan

While most analysis has been focused on the non-tit-for-tat trade tariff responses to Trump's $450 billion tariff threats against China, it is the Trump administration that is preparing to fire the next salvo in the trade war, and as The FT notes, this move could have even greater long-term consequences for the economic relationship between the US and China than tariffs.

Jun 25 09:55

Currency war can end global US dollar dominance & those who own gold have power

The world is facing a currency war and the only hedge against the crash of the US dollar is real gold, a precious metal analyst has told RT. With geopolitical power shifting from West to East, US dominance may be ending.

One such sign is the recent repatriation of gold from the United States. Countries such as Turkey, Germany, the Netherlands have been moving the bullions home. The reason is the Cold War is over and countries don’t see Russia as a threat anymore, says Claudio Grass, an independent precious metals advisor and Mises Ambassador.

Jun 25 09:32

Baby Boomer Pensions Are Doomed

Jun 25 08:53

BEXALERT: Why Do We Underplay the Links Between Cannabis and Psychosis?

Big Pharma and Big Alcohol and the Judicial/Police/Prison Complex are in one big panic!
I post this as a classic example of propaganda and disinformation.

What is really needed in dealing with cannabis is a “tobacco moment”, as with cigarettes 50 years ago, when a majority of people became convinced that smoking might give them cancer and kill them. Since then the number of cigarette smokers in Britain has fallen by two-thirds.

A depressing aspect of the present debate about cannabis is that so many proponents of legalisation or decriminalisation have clearly not taken on board that the causal link between cannabis and psychosis has been scientifically proven over the past ten years, just as the connection between cancer and cigarettes was proved in the late 1940s and 1950s.

Jun 25 08:00

Manipulation of Gold and Silver by Bullion Banks Is “Undeniable”

You’ll hear a lot of people say market manipulation is a conspiracy theory, despite the fact that it has been proven in court several times in various assets classes and especially in precious metals.

Books have been written about gold and silver manipulation for decades. Central bankers have admitted it publicly. Now it has become so obvious that it’s predictable.

I know because I made 500% in less than 24 hours on Friday last on a 1-week SLV 15.50 strike put option I bought on Thursday at 2 pm. I bought that put expecting the Bullion banks to come in and hammer the metals, given the typical signals I was seeing ahead of each time they slam Gold and/or Silver lower. Moreover, I began warning people on Twitter a week ahead of time that this could happen (note the dates posted):

I’ll provide those typical signals later, but let’s take a look at what happened to Gold…

Jun 25 07:50

Trump wants to woo Silicon Valley — but he’s from a different planet

Since the Second World War, only one other President has been more popular with his own party at this point of his term than Donald Trump. That was George W Bush after the 9/11 attacks. Some 87 per cent of Republicans approve of the job he’s doing.

They love the fact that the economy is roaring, that taxes are falling and regulations are being slashed back. They love that he is doing what he promised during his campaign, tearing up trade agreements and clamping down on immigration. They love it when he stands in the middle of violent political crossfire over the separation of children and their parents arriving illegally from Mexico and says, as he did on Tuesday: “You have to stand for something.”

Steve Bannon, Trump’s former adviser, said this week that Trump was a “profile in courage” for “tripling down” on his campaign vows.

Jun 25 07:49

EAST COAST MAIN LINE RETURNS TO PUBLIC OWNERSHIP AFTER 'TOTAL FAILURE OF PRIVATISATION'

Passengers and staff on Britain’s flagship rail line are waking up to trains run by yet another operator. At 7.54am, the first London North Eastern Railway (LNER) service departed from Newcastle, destination London King’s Cross.

The state-run operator has been created after Virgin Trains East Coast (VTEC), 90 per cent owned by Stagecoach, ended its heavily loss-making franchise on the route from London to Leeds, Newcastle and Edinburgh. It was the third operator to walk away after hopelessly optimistic forecasts failed to materialise.

Jun 25 07:24

Serious divergence....

Jun 25 07:19

Beijing signals yuan devaluation to protect its exports from Trump’s tariffs

Chinese authorities have reportedly deployed the country’s central bank to resist intense trade pressure from Washington as nearly 85 percent of China’s sales to the US were hit with export tariffs amid an escalating trade war.

The People's Bank of China has announced first steps towards easing monetary policy, pledging to boost demand for the national currency. The regulator said it would cut the amount of cash reserves for some banks by 0.5 basis points and unleash some 700 billion yuan ($108 billion) of liquidity to accelerate the pace of debt-for-equity swaps and support smaller companies.

The measure, which takes effect July 5, is expected to weaken the national currency and consequently make Chinese goods taxed by the US cheaper.

Jun 24 12:08

WHY THOUSANDS OF SWEDES ARE INSERTING MICROCHIPS INTO THEMSELVES

Thousands of people in Sweden have inserted microchips, which can function as contactless credit cards, key cards and even rail cards, into their bodies. Once the chip is underneath your skin, there is no longer any need to worry about misplacing a card or carrying a heavy wallet. But for many people, the idea of carrying a microchip in their body feels more dystopian than practical.

Jun 24 10:45

AN INCREASING NUMBER OF STRUGGLING AMERICANS ARE TURNING TO CHECK CASHERS AND PAYDAY LOANS

“People who are taking payday loans are people who make $50,000, $60,000, $70,000 a year, own their homes and have a college education. That’s the fastest-growing group. It’s not people who ‘don’t know better.’”

Jun 24 09:41

Trump's goal to keep China from using 'nuclear option' of dumping US debt – Max Keiser

President Donald Trump is cutting US military spending to be less exposed to the skyrocketing interest rates that would become unavoidable when China opts to dump US Treasury bonds, Max Keiser has told RT.

“To understand US trade policies – and in particular Trump’s policies on China – from Trump’s point of view you have to think like Trump,” the host of RT's Keiser Report explained. “When Trump took office, he inherited the biggest debt load that any country had ever accumulated. He also inherited a military budget that eats up 50 percent of America’s annual tax revenues of $1.5 trillion.”

Jun 24 09:32

China Hides Real Trade War Retaliation In Plain Sight - Stealth Devaluation

While headlines distract the world's investors with headlines of Trump and Xi exchanging trade-war shots - with Trump going big with tariff threats ($450bn) and China trying to play 'good cop' - something notable has been happening in the FX markets that few are paying attention to.

Jun 24 09:04

The American Dream

Jun 24 07:56

MERKEL CAVES IN: Germany 'to offer to scrap EU tax on cars' in Trump victory

ANGELA Merkel appears to have caved in to Donald Trump with Germany considering scrapping the European Union’s 10 percent tax on American car imports.

Jun 24 06:45

Weekend Reading: The Next Big Bubble

Jun 24 05:35

The crypto panic continues...

Jun 24 00:52

The economic assault on the 2nd Amendment

During the Barack Obama regime the Department of Just(Us) launched Operation Choke Point, a multi-pronged strategy emanating from the administration to bureaucratically hamstring businesses that lawfully deal in firearms. The goal was to lean on banks to cut ties to gun dealers, especially small mom-and-pop operations, even if even if those companies had valid licenses and good credit histories. This followed 2011 warning by the Federal Deposit Insurance Corporation (FDIC) that classified the firearms trade as a “high-risk” business category, setting it up as requiring more paperwork and creating a “litigation risk and reputation risk for financial institutions,” as then FDIC General Counsel Richard Osterman said at the time.

Jun 24 00:27

Get Ready for Online Sales Tax as Supreme Court Screws Small Online Businesses

Time to tell the states to get the hell off the backs of the working people. Let the business owners–both online and physical–provide jobs, and services that people actually pay for voluntarily!

Jun 23 19:20

Ron Paul: Rigging the economy is required…

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