ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 28 08:23

US MARKETS ARE IGNORING:

Aug 27 17:58

The high-powered weekend in the Hamptons designed to fix the world

The elite gather to honor Milken, the 'Junk Bond King', who swindled billions from the Goy.

"Fashion was hardly the point of Milken's whirlwind four-day stay in the Hamptons, during which he oversaw about 20 power sessions put on by the Milken Institute and hosted by billionaires at their homes. Because when the wealthy go back to school on a late summer weekend, they do it by the pool, with views of the ocean, chef-curated cheese plates for afternoon snacks, and classmates in the upper echelons of business, finance and government."

Aug 27 17:55

Why U.S. Stocks Hit A Record

Aug 27 15:23

Tesla shares drop nearly 4% amidst record-breaking stock market highs after company decides to stay public

At 11.15am eastern time Monday, Tesla Inc was trading at $311.04, down $11.78, or 3.65 percent, while the broader markets rallied.

Aug 27 12:29

1 in 3 Americans have less than $5,000 saved for retirement

The vast majority of Americans, 78 percent, say they're "extremely" or "somewhat" concerned about not having enough money for retirement, according to Northwestern Mutual's 2018 Planning & Progress Study. -- And for good reason: A shocking 21 percent of Americans have nothing at all saved for the future, and another 10 percent have less than $5,000 tucked away, the study finds. -- That means about a third of Americans have only a few thousand dollars, or less, put away for their golden years.

Aug 27 12:08

Chicago’s Electronic Surveillance of Food Trucks Is Ridiculous—and Probably Unconstitutional

In upholding these ordinances, the intermediate state appellate court ruled that the mandatory GPS placement was not actually a “search” under the Fourth Amendment, because there was no physical intrusion by the government and as a consequence of food trucks’ operating under a revocable license.

Aug 27 12:04

Watching America Collapse — Existence is running out for America, says Paul Craig Roberts.

The military/security complex wants to impeach Trump because he wants peace with Russia, thus taking away the essential enemy that justifies their budget and power

Aug 27 11:28

DRUDGE RIGHT NOW:

Aug 27 10:59

Dead Cat Bounce In Chinese Stocks?

Aug 27 10:37

It Begins: Russia Officially Announces ‘Time Has Come…To Get Rid of the Dollar’

In a retaliatory move to the growing list of sanctions placed on Russia by the U.S., the country has announced it will "get rid of the dollar."

Aug 27 10:14

Paul Craig Roberts: Watching America Collapse

In the 1950s and 1960s the United States was a vibrant society. Upward mobility was strong, and the middle class expanded. During the 1970s the internal contradiction in Keynesian demand management resulted in stagflation. Reagan’s supply-side economic policy cured that. With a sound economy under him, Reagan was able to pressure the Soviet government, which was unable to solve its economic problem, to negotiate the end of the cold war.

The collapse of the Soviet Union is usually attributed to Reagan and represented as one of his victories. This is a fabrication. I was in Reagan’s government, both as Assistant Secretary of the Treasury and afterward as a member of a secret Presidential Committee with subpeona power over the CIA. Reagan told us many times that his purpose was not to win the Cold War but to end it.

Webmaster's Commentary: 

I am seeing the devolution of the Unhinged, Surveilled State of Amerika as coming about in two ways; either a complete economic collapse of this country, due to decades of bad planning, bad policies, and influence-peddling, or a major world war, which this country may well not win.

Aug 27 10:00

To Understand America's Neofeudal Economy, Start With Extortion

Authored by Charles Hugh Smith via OfTwoMinds blog,

Here is the result of America's neofeudalism: soaring wealth and income inequality.

Let's spin the time machine back to the late Middle Ages, at the height of feudalism, and imagine we're trying to get a boatload of goods to the nearest city to sell. As we drift down the river, we're constantly being stopped and charged a fee for transiting one small fiefdom after another. When we finally reach the city, there's an entry fee for bringing our goods to market.

Note that none of these fees were payments for improvements to transport or for services rendered; they were simply extortion. This was the economic structure of feudalism: petty fiefdoms levied extortionate fees that funded the lifestyles of nobility.

Aug 27 09:58

Europe Is Working On Alternative To SWIFT For "Financial Independence" From The US

In the aftermath of a report that Germany was working on a global payment system that is independent of the US and SWIFT, on Monday Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks, Bloomberg reported.

"With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of U.S. extra-territorial sanctions," French Finance Minister Bruno Le Maire said Monday during a meeting with press association AJEF. “I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”

The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President Donald Trump pursues his “America First” agenda.

Webmaster's Commentary: 

Whatever the intent of President Trump's sanctions, the cold, hard reality is that they are uniting Europe and Iran against the US, and these countries are looking to trade without using either the SWIFT global payment system, or the US dollar.

Mr. President, I know you are trying to satiate the desires/demands of Sheldon Adelson, your richest American/Zionist backer, who has, apparently purchased your Presidency, and those of one of your BFFs in the Middle East, Israel's Prime Minister Netanyahu; but sir, it is painfully clear, and brutally apparent to me, that we are headed to a war against Iran, with Russia and China lined up on Iran's side, and the US, Israel, Saudi Arabia, and NATO on the other.

Such a war, sir, would be one of the most ham-fistedly, pig-headedly stupid things the United States could do at the moment, because if your military advisors were being thoroughly honest with you, they would tell you that this country's military does't have the money; the weaponry; the troop strength; and the manufacturing to insure a military victory over a combined Russian/Chinese contingent against it in Iran.

Aug 27 09:47

Saudi King Shelved Aramco IPO To Teach Son, Prince Bin Salman A Lesson

As was first reported in early 2016, for the past two years Saudi Arabia had been preparing to place up to 5% of its national oil company, Saudi Aramco, on the stock market. Officials talked up the Aramco initial public offering with international exchanges, global banks and President Donald Trump.

The planned listing was supposed to be the cornerstone of the kingdom’s promised economic overhaul and, at a targeted $100 billion, the biggest IPO ever. More importantly, it was the brainchild of 32-year-old Crown Prince Mohammed bin Salman, heir apparent of the world's largest oil exporter and the effective head of OPEC.

However, after months of setbacks, the deal came to a crashing halt after the international and domestic legs of the IPO were pulled earlier this month.

The reason, according to Reuters: King Salman - the prince's father - stepped in to shelve it.

Aug 27 09:42

BONE-CHILLING FOOTAGE FROM INSIDE CHINA SHOWS RAW REALITY OF ENSLAVEMENT TACITLY SUPPORTED BY BIG TECH

Chinese man describes the horror as best he can: “They’re eating our flesh and drinking our blood“.

This is the system that big tech companies are bowing to.

Apple and Google have created a dangerous precedent for both business and press freedom in choosing to ally with the communist Chinese.

In following Chinese regulations on net censorship, these tech companies are enabling a tyrannical regime unlike anything else on the planet.

This report details multiple families stories of false accusations, executions and torture:

As the world is tilting toward tyranny, the United States must re-light the beacon of freedom and keep it lit. If we do not, this darkness will penetrate our land. It will no longer be something that is happening “out there”. It will be knocking on – or breaking down – your door.

Webmaster's Commentary: 

What the author of this article apparently has not realized, is that the American Deep State is attempting to crush and push American citizens down the same cesspit of dictatorship, persecution, and "content management" that the Chinese have; these people comprising the American Deep State, obviously do not realize that George Orwell's "1984" was a cautionary tale, and not a "how to" book.

And if you do not believe that what I am saying is true, please take a look at the following article, also from blacklistednews.com today:

A Snapshot of YouTube's New Search Algorithm

This is why we must collectively shun Youtube, Facebook, and Twitter, as though they all have the plague, and permanently.

Aug 27 09:26

IRAN SAYS IT HAS FULL CONTROL OF GULF, U.S. NAVY DOES NOT BELONG THERE

(Reuters) - Iran has full control of the Gulf and the U.S. Navy does not belong there, the head of the navy of Iran’s Revolutionary Guards, General Alireza Tangsiri, was quoted by Tasnim news agency as saying on Monday.

Tehran has suggested it could take military action in the Gulf to block other countries’ oil exports in retaliation for U.S. sanctions intended to halt its sales of crude. Washington maintains a fleet in the Gulf that protects oil shipping routes.

Tangsiri said Iran had full control of the Gulf and the Strait of Hormuz that leads into it. Closing the strait would be the most direct way of blocking shipping.

“We can ensure the security of the Persian Gulf and there is no need for the presence of aliens like the U.S. and the countries whose home is not in here,” he said in the quote, which appeared in English translation on Tasnim.

Webmaster's Commentary: 

General Tangsiri, a word, please: should Iran do this, the US government will use such an action as the "justification" for war against your country, and retaliate, with full military force, against Iran.

In fact, sir, such an action is something the US government would love to see your country do.

Aug 27 09:23

College dropouts in US surpass those heading back to school -- it's time we fix that

With their coffee mugs and laptops at the ready, over 20 million students are expected to start college in the U.S. this year. They offer a stark back-to-school contrast to the 31 million people in this country who started working on a degree but never completed it.

The 31 million figure may be surprising, but the reasons behind it are not. A recent Harris Poll survey, conducted in collaboration with University of the People, offers important insights.

First, money is a primary factor. Even with financial aid, many students don’t have the means to continue, and may already be burdened with significant educational debt.

Aug 27 09:21

Parents expect kids to foot more of their college bill: Study

Colleges now asking for a percentage of future income to cover tuition
FBN's Cheryl Casone on some colleges now asking students for a percentage of their future salary to cover the cost of tuition.

As the cost of college in the U.S. continues to rise, parents are saving more for their child’s higher education expenses – but are not expecting to foot the entire bill themselves.

Aug 27 09:18

‘THIS IS NO LAND GRAB’: SOUTH AFRICAN PRESIDENT DEFENDS PROPERTY SEIZURE PLANS

South African President Cyril Ramaphosa has defended land reform plans that include property expropriation days after the US President Donald Trump questioned the policy.

“This is no land grab. Nor is it an assault on the private ownership of property,” Ramaphosa wrote in his column for the Financial Times. “The proposals will not erode property rights, but will instead ensure that the rights of all South Africans, and not just those who currently own land, are strengthened.”

The ruling African National Congress (ANC) party has proposed a constitutional amendment allowing the government to seize and redistribute land without any compensation to its owners. The draft, which has not been adopted so far, evoked widespread international outrage and multiple media reports of alleged violence against South African white farmers, including murders.

Webmaster's Commentary: 

Sorry, South African President Cyril Ramaphosa, this proposal doesn't pass the duck test.

IF the policy looks like expropriation without compensation, offers only expropriation without compensation, and can only result in expropriation without compensation, it is, by logic and definition, sir, expropriation without compensation for South African farmers, period, end of discussion.

Ownership of farm land, without having the fundamentals of knowing how to work it, to produce excellent crops on a consistent basis, is a recipe for utter disaster here, as has happened with Zimbabwe.

So look for massive immigration of farmers who can get out, and can find a place to land, (perhaps Russia, because of their agricultural skills) ; the collapse of South African banks, because many of these farms are deep in debt, and the collapse of its agricultural capabilities, to the point of South Africa needing to import a large proportion of the food they need.

The Rand may also well experience an horrific downturn because of this as well.

Aug 27 09:09

Latest batch of US sanctions against Russia comes into effect

The latest set of sanctions against Russia, introduced by the US in response to Moscow’s alleged involvement in the Skripal poisoning in the UK, has come into effect. Moscow has already promised a proportional response.
The State Department document, published by the Federal Register website on Monday, outlines the new restrictions that Washington hopes will make Moscow more cooperative. Ominously entitled ‘Determinations Regarding Use of Chemical Weapons by Russia’, the sanctions were imposed on the pretext of alleged Russian involvement in the poisoning of Sergei Skripal and his daughter in the UK back in March, which London promptly pinned on Moscow, though it has yet to produce any evidence to back up its claims.

Aug 27 09:08

German FM: Europe Should React to US Sanctions Targeting Russia, China, Turkey

Earlier, Wolfgang Buchele, head of the German Committee on Eastern European Economic Relations (OAOEV), warned that the prospects for German-Russian trade are still marred by new US anti-Russian sanctions, which are "dangerous because they can target European partners of Russian companies."

German Foreign Minister Heiko Maas has urged Europe to react to the US sanctions-related policy on Russia, China, Turkey and other important economic partners.

"Washington prompts us to formulate European responses to its sanctions-related policy, something which pertains to Europe and Germany. We should react to the United States suddenly imposing uncoordinated and rather nonspecific sanctions against Russia, China, Turkey and in the future, perhaps, against other important trading partners," he underlined.

Aug 27 09:05

Payday loans giant Wonga is on brink of collapse after surge in compensation claims by people who borrowed at rip-off rates of up to 5,853% before watchdog crackdown forced huge cut

Wonga is on the brink of collapse after a surge in customer compensation claims.

The payday loans firm was once one of the fastest-growing consumer finance companies in Britain.

It even had ambitions to get a New York stock market listing that could have valued it at more than $1billion.

But the company is now on the rocks just three weeks after being given an emergency £10million cash injection to stay afloat.

Aug 27 09:04

LEGAL BATTLE BETWEEN US AND IRAN OPENS AT UN’S HIGHEST COURT

The International Court of Justice (ICJ) is hearing Iran’s lawsuit against the US over President Donald Trump’s decision to re-impose sanctions on the Islamic Republic after he withdrew from the landmark 2015 nuclear deal.
According to Tehran, the policy conducted by Washington “is nothing but naked economic aggression”.

“The US is publicly propagating a policy intended to damage as severely as possible Iran’s economy and Iranian national companies, and therefore inevitably Iranian nationals,” Iran’s legal representative, Mohsen Mohebi, the international law adviser to the Iranian president, said at The Hague at the beginning of the four-day session for Tehran’s case on Monday.

“Iran will put up the strongest resistance to the US economic strangulation, by all peaceful means,” he added.

US State Secretary Mike Pompeo described Iran’s filing with the ICJ as “an attempt to interfere with the sovereign rights of the US.”

Webmaster's Commentary: 

I see that American hubris regarding Iran, egged on by Israel's Netanyahu, is still riding high; and yes, Secretary of State Pompeo, these proceedings are an absolutely legitimate use of the Court by Iran!!

Aug 27 08:55

Academic on How US Facilitates Creation of SWIFT Alternative by Pressuring Iran

A group of US lawmakers have urged the Treasury to cut off Iran from the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Speaking to Radio Sputnik, Christopher Bovis, professor of international business law at the University of Hull in England, has commented on the potential consequences of the proposal.

Aug 27 08:54

Fleeing the Buck: What Will Happen if Gulf States Move Away From the Dollar?

Russia, Turkey, China and Iran are fleeing the dollar and promoting bilateral trade in national currencies, amid the US tariff and sanctions spree. Speaking to Sputnik, Middle Eastern economists have shared their views on whether the Persian Gulf States will follow suit.

"It is very difficult to move away from the dollar alone, but if the countries of the Persian Gulf decided to do this together, if they introduced a single currency, this would have a huge effect and a push for progress," Egyptian economist Muhammed Abdel Jawad told Sputnik Arabic, adding that "this would turn the Gulf states into "global economic leaders."

Aug 27 07:37

Europe working on payment system alternative to SWIFT & IMF to attain financial independence from US

German Foreign Minister Heiko Maas says Europe has started work on creating a system for money transfers that will be autonomous from the currently prevailing Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“That won’t be easy, but we have already started to do that,” Maas said at the annual Ambassadors Conference in Berlin on Monday, as quoted by RIA Novosti. “We are studying proposals for payment channels and systems, more independent from SWIFT, and for creating European monetary fund.”

Aug 27 07:29

£71 billion...the cost of our banks’ misconduct: Our investigation reveals the fines, fees and compensation since 2008 crisis

Britain's biggest banks have paid out £71 billion for misconduct in the decade since the financial crisis, a Mail on Sunday investigation reveals.

The staggering costs for Royal Bank of Scotland, Lloyds Banking Group, Barclays and HSBC since the 2008 meltdown stem from fines, legal fees and compensation for mistreated customers.

Aug 26 16:40

Tiny 140-square-foot studio apartment with a door-less bathroom and mini fridge stacked on top of a bed is on the market for a shocking $1,375 a month - proving just how pricey New York City real estate really is

The space lacks a lounging area, kitchen and windows - despite windows being a legal requirement in New York - but is complete with a door-less bathroom and a bed frame with a mini fridge stacked right on top.

Aug 26 16:37

Revealed: Family members can claim PPI on behalf of their dead relatives under little-known right to compensation

With almost a year to the day left until the PPI compensation deadline, consumer group Which? has pointed out people can claim on behalf of deceased family members.

The Express reports that a survey showed 90 per cent of people are unaware they can get compensation owed to relatives who have died.

Experts tell the newspaper the banks have kept the right to compensation quiet so they wouldn't be flooded with claims.

Aug 26 14:36

More Evidence The Economy Is Deteriorating

The economy may seem like it’s doing well if you are part of the upper 10% demographic. Though, in reality, for most of the upper 10%, doing “well” has been a function of having easy access to credit.

Aug 26 12:11

My Inner Contrarian Wakes Up: Gold Short Positions Hit Record

Speculators in gold price futures are short 670 tonnes – the biggest bearish position in 25 years.

Aug 26 11:24

US macro momentum the next shoe to drop?

Aug 26 10:01

US Economy Showing Deteriorating Signals

Aug 26 08:49

NASCAR driver loses sponsorship over racist remark his father made before he was even born

Conor Daly loses Lilly Diabetes sponsorship over remark his father made over 30 years ago

Aug 26 08:13

THE HOUSING BUBBLE IS OBVIOUS

Aug 26 07:13

In Time of Madness

Aug 26 05:57

The Elephant In The Room: Share Repurchases

Aug 25 22:12

More than one million people flee Venezuela amid 'food shortages, political turmoil and economic meltdown' as inflation hits 82,000 per cent while UN warns that country is building towards 'crisis moment'

The exodus of migrants from Venezuela is building toward a 'crisis moment' comparable to events involving refugees in the Mediterranean, the United Nations migration agency said on Friday.

Growing numbers are fleeing economic meltdown and political turmoil in Venezuela, where people scrounge for food and other necessities of daily life, threatening to overwhelm neighboring countries.

Officials from Colombia, Ecuador and Peru will meet in Bogota next week to seek a way forward.

Aug 25 12:40

Russia accelerating efforts to abandon U.S. dollar

Russian Deputy Foreign Minister Sergei Ryabkov recently told International Affairs Magazine that Russia is planning to dump the U.S. dollar in trade deals altogether presumably because the fiat currency isn’t even worth the paper it’s printed on.

Aug 25 12:22

Goldilocks Stock Index Breaking Out

Aug 25 11:08

Homebase on the brink: 11,000 jobs at risk as sales plunge 10% with 70% of stores now in the red

A disastrous takeover by Australian group Wesfarmers two years ago has left Homebase on the brink of collapse, putting 11,000 jobs at risk.

It was bought by HMV-owner Hilco for £1 in June but still has £116million of debt.

More than 70 per cent of stores are loss-making, with sales down 10 per cent across the business in the year to June.

Homebase has lost £300million since Wesfarmers bought it for £340million. Before the takeover, its earnings were £20million to £40million a year.

Aug 25 10:01

WEAPONIZING THE US DOLLAR IS ACCELERATING GLOBAL DE-DOLLARIZATION

Observing the consequences of these political choices in the months since, it is easy to see how the world has reacted in a more or less similar fashion, which has been by ignoring the United States and emphasizing cooperation amongst themselves. The TPP, with its agreements between 11 countries, has remained in place without Washington. The development of relations between ASEAN and China continues on without Washington’s participation. While the TTIP has been halted, the Comprehensive Economic and Trade Agreement (CETA), is in its final approval stage, an agreement between Canada and the EU that bypasses the American-inspired TTIP. The Iran deal remains in force despite Washington's cowardly withdrawal, and the five countries remaining in the Iranian nuclear agreement have every intention of respecting the JCPOA, which had been negotiated over a number of years.

Webmaster's Commentary: 

Please note that these actions, on the part of the Trump administration, have caused other countries to dump the use of the US dollar all together in their trade, and turn back to gold, as have Russia and China.

What good is an alleged "premier world currency" when other countries just won't use it?!?

Aug 25 09:40

Elon Musk says Tesla will remain a public company

Tesla isn’t going private after all. In a statement late Friday, Elon Musk, the electric-car maker’s chief executive, said he and the company’s board had concluded that they would not turn Tesla into a privately owned company.

The move halts a process set in motion by Musk in a Twitter post on August 7th. The reversal is the latest upheaval for the company, which has struggled with production challenges for its first mass-market car, the Model 3.

“I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated,” Musk wrote in a statement that Tesla posted on the company’s blog shortly after 11 pm.

Aug 25 09:28

Small Business Ownership Among Black Americans Jumps 400% Since Trump's Election

As black unemployment remains at historic lows, The number of small businesses owned by African Americans in the United States has exploded by 400% year-over-year, according to a survey of more than 2,600 small business owners and entrepreneurs by Guidant Financial.

Aug 25 09:20

Morgan Stanley Warns of Momentum In Hospital Closings, “they are getting eaten alive”

While the stock market could indeed be in the most extended bull market in history, there are new, troubling signs that the real economy is faltering.

A new report has sounded the alarm about the pace of hospital closures across the country. It says there are several factors pressuring margins at hospitals that are contributing to the accelerating rate of closures, particularly in rural communities.

Aug 25 09:19

Coal-rich Ukraine happy to transport coal from Pennsylvania on US locomotives - Poroshenko

In July 2017, shortly after Poroshenko met Trump in the White House, Ukrainian state-run energy company Centrenergo announced a deal with Pennsylvania-based Xcoal Energy & Resources for the supply of up to 700,000 tons of anthracite. Kiev reportedly rejected South African coal due to its high price, while Russian coal wasn’t suitable for the country for political reasons.

This year, Kiev purchased 1,017,469 tons of anthracite from January through March, compared to 865,732 tons bought in the same period a year ago, according to data compiled by the US Energy Information Administration.

Ukraine used to be one of the world’s major producers of anthracite – a coal used in power generation. However, the country faced shortages due to the ongoing conflict in eastern Ukraine, where almost all mines are located. Massive disruption was also evoked by the blockage of railways leading to the breakaway Donbass region by Kiev-backed militant groups.

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