ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 22 10:26

'Bad choice' Macron's popularity plummets as he scrambles to please EU on France's deficit

EMMANUEL Macron’s popularity rating has plummeted to one of the lowest on record for a new French president as he struggles to force through unpopular policies designed to placate EU beancounters.

Aug 22 10:26

Merkel's nightmare! United States set to decimate German car industry after Trump threats

ANGELA MERKEL is facing her worst nightmare as Germany’s behemoth motor industry is under threat from United States-based Tesla.

Aug 22 10:23

Treasury Slaps Sanctions On China, Russia Entities And Individuals Over North Korea

In a move that is certain to infuriate China further and result in another deterioration in diplomatic relations between Washington and Beijing, moments ago the United States slapped both Chinese and Russian entities and individuals with new sanctions in the Trump administration's escalating attempts to pressure North Korea to relent and stop its nuclear program and occasional missile launches.

The Treasury Department's Office of Foreign Assets Control said it would target 10 entities and six individuals who help already sanctioned people who aid North Korea's missile program or "deal in the North Korean energy trade." The U.S. also aims to sanction people and groups that allow North Korean entities to access the U.S. financial system or helps its exportation of workers, according to the Treasury:

Webmaster's Commentary: 

It is deeply disturbing how quickly financial sanctions become preludes to wars against those countries which have been sanctioned.

Aug 22 10:22

Mnuchin: I Assume Fort Knox Gold Is Still There

US Treasury Secretary ‘assumes’ the gold is still in Fort Knox, 64 years after it was audited.

81 years after it was built Fort Knox received its third visit from a US Treasury Secretary yesterday, Steven Mnuchin.

The fortified facility is reportedly surrounded by 30,000 soldiers, tanks, armored personnel carriers, attack helicopters, and artillery. Despite this, there is still concern as to whether the gold is there.

As he headed in, Mnuchin told an audience “I assume the gold is still there…It would really be quite a movie if we walked in and there was no gold.”

Aug 22 08:24

Will The Deteriorating Economy Be Blamed On The Eclipse, Seems That Way

The corporate media is reporting that the solar eclipse will cost the retail industry millions of dollars.

Aug 22 08:16

Stock & Bond Markets in Denial about QE Unwind, but Banks, Treasury Dept Get Antsy

“Let markets clear.” It’ll be just “a financial engineering shock.”

Aug 22 08:03

US Gross National Debt to Spike by $800 Billion in October?

The other option: too ugly to even imagine.

Aug 22 07:34

KINDER MORGAN PAID $115,000 TO MASS. STATE POLICE TO STOP PROTESTS AGAINST PIPELINE

New documents reveal the Massachusetts State Police were paid over $100,000 by Kinder Morgan Inc to prevent local activists and representatives of indigenous communities from stopping the Connecticut Expansion Pipeline project.

The Narragansett have been fighting to stop destruction of sacred ceremonial stones. Ultimately, the FERC approved the permit for construction despite the land being covered under Article 97 of the Massachusetts Department of Energy and Environmental Affairs’ Land Disposition Policy. After pursuing legal strategies for stopping the project, activists opted to take their fight to the frontlines of the pipeline construction.

Webmaster's Commentary: 

It is "open season" on the American people, and their resources, at this point in American history; all that can be sold and privatized, will be sold and privatized.

Aug 21 16:20

Current AI Recession Forecast: June 2019

Aug 21 16:05

Bitcoin Price Blows Past $4,000

Aug 21 15:22

Gold Will Trade Like Bitcoin | Edward Karr

Aug 21 15:11

It’s Time To Audit The Fed

We’ve been told over and over again it can’t be done, while defying those expectations each step of the way, and we now have a President who has indicated his support for Audit the Fed. Let’s shock the establishment again by pushing it over the finish line.

Aug 21 12:21

The Clever Games Tax "Reformers" Play

Reuters reports that President Donald Trump and congressional Republicans are now tackling tax reform. Staffers are working straight through the August recess, with proposed legislation expected to be released in September.

Aug 21 12:00

California Pensions are being taken away.

Aug 21 11:46

Ron Paul Warns “50% Stock Market Plunge Conceivable… And It Won’t Be Trump’s Fault”

The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street.

Aug 21 11:07

Ray Dalio's Gravest Warning Yet: "I Am Tactically Reducing Risk... This Is Broadly Similar To 1937"

Two weeks after Ray Dalio warned in his latest letter to Bridgewater clients that the right trade in the current environment is to buy gold in case "things go badly", the head of the world's biggest hedge fund is out with his gravest warning yet, saying that he is "concerned about growing internal and external conflict leading to impaired government efficiency." In his LinkedIn post, he writes that he "continues to closely watch how conflict is being handled a guide, and I’m not encouraged.”

Webmaster's Commentary: 

The world was feverishly preparing for war at this time, and Japan invaded Manchuria in 1937, which many historians actually see as the starting point for World War 11.

With US geopolitical tensions extraordinarily high against China; North Korea, Russia and Iran right now, it makes perfect sense for Dalio to make this comparison.

Aug 21 10:57

Are Markets Sleepwalking Into A Debt Ceiling Crisis: Mnuchin Issues Another Warning

Over the weekend, Morgan Stanley reminded its clients that perhaps the biggest threat facing markets over the coming weeks is the “three-headed policy monster” inside Washington: raising the debt ceiling, passing a budget and embarking on tax reform. As MS cross-asset strategist Andrew Sheets noted, "none are easy, but we see the debt ceiling as the most immediate test."

Aug 21 09:26

Lord Rothschild: "Share Prices Are At Unprecedented Levels, This Is Not A Time To Add Risk"

"We do not believe this is an appropriate time to add to risk. Share prices have in many cases risen to unprecedented levels at a time when economic growth is by no means assured. Geopolitical problems remain widespread and are proving increasingly difficult to resolve." - Lord Jacob Rothschild

Aug 21 07:56

BEWARE THE "THE CULTURAL CIVIL WAR" NARRATIVE: YOU'RE BEING PLAYED

Remember the "Russians hacked our election!" hysteria - or have you already forgotten? That entire narrative collapsed under a deluge of factual evidence that the Democratic National Committee (DNC) data release was an insider job, and a compelling lack of evidence of any other Russian hacking.

That failed narrative has now been replaced with a new mass hysteria: "a new cultural Civil War is inevitable." In this narrative, America has succumbed to us-versus-them divisions divided by all-or-nothing ideological bright lines.

Snap out of it, America: you're being played, just as you were played by the absurd "Russia hacked the election" mania.

Webmaster's Commentary: 

The other names for this ploy are "divide and conquer", and "misdirection."

Aug 21 07:53

HOW THE ELITES ARE DIVORCING FROM REALITY: THE ECONOMIST'S

The Western globalist elites have not digested Trump’s victory or Brexit yet. They are having a hard time dealing with their ideological failures, and when the reality dares not to comply with their day dreaming, they go online and create a parallel world, where their “expert” predictions always turn right and their failures cannot be questioned.

The Economist‘s portal named “what if”, a neo-liberal, wishful thinking echo chamber, is the point in case.

Its latest piece attributes magical powers to the new hero of the elites, Emmanuel Macron, who soundly defeated “evil” Marine Le Pen in May. For The Economist, Macron is nothing short of Jesus as he was correspondingly depicted on the monthly’s cover walking on water:

Webmaster's Commentary: 

It has been long demonstrated that when a society's elites are singularly unhappy with reality, they create" realities" of their own, which have utterly nothing to do with facts on the ground.

Aug 21 07:51

US Asset Bubbles Crack as Frantic China “Restricts” Outbound Investments

What happens to prices when the biggest, reckless buyer walks away?

Aug 21 07:11

A Universal Basic Income is Not the Solution

A government provided social welfare check for everyone with nothing in return is not the solution to the growing scarcity of good-paying occupations. We must realize our population is not to be treated as a growing financial drain on society, but the critically impactful driver to our continued prosperity. We must all engage and contribute, not be pushed into the boundaries of irrelevance. We must stop thinking that providing a meager government check with nothing in return is the antidote to creating a future utopian society. That would only lead to the gradual discontent and decay of our society that has been built on hard work, perseverance, innovation, participation, and endless possibilities.

Aug 21 06:37

Bank runs in Hong Kong following introduction of facial recognition withdrawals in Macau

Hong Kong’s ATM network has been hit with a surge in withdrawals by customers using China UnionPay bank cards in the wake of facial recognition technology being introduced at cash dispensing machines in Macau. Monetary chiefs in Hong Kong have declined to deny or confirm information obtained by the South China Morning Post that ATMs have seen a “staggering’’ rise in withdrawals since the casino hub introduced the recognition technology in May as part of a bid to stem illegal capital flight from mainland China.

Aug 21 06:14

Slack CEO Voices His Support for Universal Basic Income

The co-founder of Slack has voiced his support for basic income. He along with Facebook's Mark Zuckerburg and SpaceX CEO Elon Musk wish to see its implementation.

Aug 21 06:13

Virgin's Sir Richard Branson is latest billionaire backing basic universal income

AI and automation will make many jobs obsolete, he said.

Aug 21 04:07

Stock/Bond Ratio could breakdown here

Aug 20 19:29

The Neocons Are Pushing the USA and the Rest of the World Towards a Dangerous Crisis

Trump wins. Problem: he will be completely alone. The Neocons have a total, repeat total, control of the Congress, the media, banking and finance, and the courts. From Clinton to Clinton they have deeply infiltrated the Pentagon, Foggy Bottom, and the three letter agencies. The Fed is their stronghold. How in the world will Trump deal with these rabid “crazies in the basement“?

I went on to suggest that Trump’s only option would be to follow Putin’s example and do the the Neocons what Putin did to the oligarchs. Clearly that did not happen.

Less than a month ago I warned that a ‘color revolution ‘ was taking place in the USA.

Aug 20 18:51

The reward for hard Brexit: Economy to swell by £135bn EVERY YEAR, experts calculate

THERESA May's plans for a hard Brexit could boost the UK economy by £135 billion a year, top economists have predicted.

They believe the UK could reap trade gains worth £80bn annually by removing tariffs for both the European Union and the rest of the world.

Deregulating the economy and other Brexit-related policies could provide a further £40bn a year boost, they added.

The 16 pro-Brexit economists made the glowing assessment of the UK's future outside the EU in a new 50-page report.

Aug 20 08:01

ARE PROFIT AND HEALTHCARE INCOMPATIBLE?

In the good old days of the 1950s and 1960s, U.S. healthcare was more localized, and the central state (federal government) wasn’t the Sugar Daddy for the cartels. Hospitals were community hospitals (what a quaint idea in today’s hyper-cartelized system) managed by physicians and administrators who saw their role as serving the community rather than arranging for $20 million annual salaries and millions of dollars in stock options.

This is why the cartels love Medicare For All proposals: the federal government–protector and funder of the cartels–will give the cartels a blank check not just for the 120 million people currently drawing benefits from Medicare/Medicaid but for all 325 million Americans.

Fast facts on Medicare and Medicaid (Center for Medicare and Medicaid Services)

Medicare Beneficiaries: 57.7 million
Medicaid Beneficiaries: 72.3 million
estimated dual Beneficiaries (drawing benefits from both programs): 10 million

Total Beneficiaries: 120 million

Webmaster's Commentary: 

We not only have a military industrial complex in the country; we also have a medical industrial complex, which thrives when patients stay ill, both from mandated medications, and lousy eating habits.

You have to wonder at the "push" toward mandated vaccines, and why the medical industrial complex has been so keen (with purchased, legislative "assistance", no doubt) to force you to have vaccines. There is a medical reason, and its name is nagalese.

This is what this chemical, found in most US vaccines right now, does:

REVEALED: Cancer industry profits 'locked in' by nagalase molecule injected into humans via vaccines... spurs tumor growth... explains aggressive vaccine push

GCMAF, Nagalese, and cancer

Nagalese in vaccines

Molecule in most vaccines spurs cancer growth, is the reason for vaccine push

I hope I have your attention by now; the medical industrial complex is not about wellness, but about profits, and by any means necessary.

Aug 20 06:50

John Williams - A Move to Impeach Trump Will Tank Dollar, Markets at Risk to Plummet

Economist John Williams says, “A big factor in the dollar’s value is political stability or the perceived political stability.

Aug 19 10:01

Mexico a Paradise for Oligarchs: Poverty, Inequality Soar as Wealth Rises

Mexico is nothing if not a land of bewildering contrasts. Economically speaking, the country is a regional powerhouse. On the one hand, it boasts one of the richest “official” billionaires on the planet; on the other, some of the worst income inequality rates in the Western hemisphere. It places 20th on the list of countries with the most millionaires but it’s also home to the 15th largest population of poor people on the planet.

Aug 19 09:06

Merkel, called 'traitor', defends refugee stance in rowdy east Germany

German Chancellor Angela Merkel was greeted with shouts of "traitor" by a rowdy group of right-wing protesters in east Germany on Thursday as she defended her decision to allow hundreds of thousands of refugees into the country.

Roughly five weeks before an election in which she is expected to win a record-tying fourth term, Merkel veered from her stump speech, acknowledging "difficult times" in 2015 when a flood of asylum seekers, many from the Middle East, entered Germany.

It was her first campaign stop in eastern Germany, parts of which have been fertile ground for anti-immigration politics.

"Many people were worried. They said to themselves: 'What about us? Are we still important or are only the refugees important'?" she told a crowd of several thousand in the central market square in Annaberg-Buchholz, a town in the state of Saxony near the Czech border.

Webmaster's Commentary: 

Notice that this question remains unanswered in the rest of her speech.

Immigration ultimately means votes; that is what Merkel's party is counting on, in the long term, regardless of the harm and displacement it is causing German nationals now.

Aug 19 06:32

Did Stocks Cross The ‘Median’?

Aug 18 14:38

What The Mainstream Doesn’t Get About Bitcoin

The real demand for bitcoin will not be known until a global financial crisis guts confidence in central banks and politicized capital controls.

I’ve been writing about cryptocurrencies and bitcoin for many years. For example: Could Bitcoin Become a Global Reserve Currency?

Aug 18 11:27

Jordan Goodman – Our Bubblicious Economy

Aug 18 11:17

USA Is Now Twice As Likely To 'Default' Than Germany

While the market turmoil (stocks down a few percentage points from all-time record highs) is being pinned on various factors (from North Korea, Trump, & Cohn to terrible retailer earnings and J-Hole anxiety), we suspect the real cause of market uncertainty is starting to peak through - the looming debt ceiling crisis that has now become too big and too imminent to ignore.

Of course, uncertainty in The White House is starting to make investors realize the chance of successfully navigating the debt ceiling crisis without a government shutdown are dwindling...

With the T-Bill market pricing in serious disruption at the end of September, the risk of a technical default for US Treasury debt is starting to rise and is now spiking relative to Germany.

Webmaster's Commentary: 

And please remember; September is just a couple of weeks away!

Aug 18 11:03

Cryptocurrencies Exploding: This Is Nuts

Aug 18 11:01

A Venezuelan Tanker Is Stranded Off The Louisiana Coast

A tanker loaded with 1 million barrels of Venezuelan heavy crude has been stranded for over a month off the coast of Louisiana, not because it can't sail but as a result of Venezuela's imploding economy, and its inability to obtain a bank letter of credit to deliver its expensive cargo. It's the latest sign of the financial troubles plaguing state-run oil company PDVSA in the aftermath of the latest US sanctions against the Maduro regime, and evidence that banks are slashing exposure to Venezuela across the board as the Latin American nation spirals into chaos.

As Reuters reports, following the recently imposed US sanctions, a large number of banks have closed accounts linked to officials of the OPEC member and have refused to provide correspondent bank services or trade in government bonds. The stranded tanker is one direct casualty of this escalation.

Aug 18 11:01

Carmageddon: Deep Subprime Auto Delinquencies Spike To 10-Year Highs

If you're still on the fence about whether the auto market in this country is anything but a massive bubble being propped up by extremely loose credit underwriting standards, then we think Equifax has just provided some definitive evidence that just might push you over the edge.

In discussing delinquency trends in deep subprime auto ABS deals, Equifax Chief Economist Amy Crews Cutts recently pointed out that 2016 and 2017 vintage deals are mysteriously performing more like 2007 securitizations than those underwritten in 2010.

Aug 18 10:41

Elite Banker Jumps from London Stock Exchange Building with a Chilling Warning

Although he has yet to be named by police, workers described him a “one of the bigwigs”.

According to one of the witnesses, he “ran along the walkway shouting and put one hand on the glass wall and jumped over it with both feet.”

“He didn’t even hesitate. He was shouting, ‘the end is coming! Get out while you still can!'”

“It was awful.”

Aug 18 10:31

The Great Disconnect: Markets vs. Economy

The general consensus is the rise in capital markets, despite global weakness, geopolitical risks and sluggish employment and wage growth, is clearly a sign of economic strength as witnessed by rising corporate profitability.

Aug 18 10:22

1 In 7 New York City Public-School Students Is Homeless

Despite promising to do everything in his power to improve the quality of life for New York City’s most economically vulnerable residents, Mayor Bill De Blasio has instead presided over one of the largest expansions in homelessness in New York City history.

Aug 18 10:13

Protests break out on China-North Korea border over new sanctions

Protests have broken out on the Chinese border with North Korea, as China's seafood importers watched frozen product melt in trucks blocked from crossing after China imposed a new round of economic sanctions.

Dozens of trucks have lined up on a bridge, unable to enter China, according to video shot by a local trader who posted it to Chinese social media. It shows a long line of unmoving truck containers stuffed with crabs and shrimp that were melting in the sunshine and risked becoming spoiled product in the latest sign that Beijing is, for now at least, strictly enforcing a new round of sanctions "There is nothing we can do but accept it as our fate," said Cui Yanzhi, a local trader in the Chinese city of Hunchun, where North Korean product has long underpinned a thriving business in the far northeastern corner of the country, not far from Vladivostok.

Webmaster's Commentary: 

Good on China for implementing the sanctions.

That being said, I feel a lot of compassion for the North Korean businesses getting hit; the actions of their government are not their fault.

Will it be enough to create an uprising the Kim Jung Un's government and military will not be able to control?!?

I would seriously doubt that would happen.

Aug 18 10:08

Is housing a better investment than equities?

Aug 18 09:58

Xi: China welcomes Trump's visit by year end

Chinese President Xi Jinping on Thursday pledged to "properly handle" disagreements with the U.S. and said Beijing welcomes U.S. President Donald Trump to visit China by year end, as he met chairman of the U.S. Joint Chiefs of Staff Joseph Dunford at the Great Hall of the People in Beijing.

"President Trump and I both highly value China-U.S. relations and are willing to push forward the development of bilateral ties. Though difficulties do exist, rainbows come after storms. I hope the two sides can treat each other with honesty and goodwill, maintain close communication and properly handle disagreements," Xi said, according to the Chinese Ministry of Defense.

Xi asked Dunford to convey his greetings to President Trump, and said China is looking forward to Trump visiting China.

The Chinese president stressed that bilateral military relations are an important part of China-U.S. ties and crucial for the stability of broader bilateral relations.

Webmaster's Commentary: 

Color me ... at least slightly hopeful here.

Aug 18 08:45

WELLS FARGO RESHUFFLES BOARD WITH SCANDAL-RIDDEN INSIDERS

WELLS FARGO, THE CURRENT poster child for corporate crime recidivism, announced that three of its board members would step down at the end of the year, in a nod to the company’s many incidents of customer abuse. But, in an example of what passes for accountability in the modern age, they did not claw back any compensation from those board members. Instead, the departing board members were allowed to take an early retirement. And the replacements are either already on Wells Fargo’s payroll, or come from close corporate partners.

Webmaster's Commentary: 

The One Percenters never eat their own.

Aug 18 07:58

URBAN WARFARE: NATO ISSUES RFP FOR TRAINING TO FIGHT IN BIG CITIES WITH "DENSE, INTERCONNECTED POPULATIONS"

Throughout the 2016 campaigning cycle, then candidate Trump frequently criticized NATO as “obsolete” and repeatedly knocked allies for not paying their “fair share.”

Then, in a shocking reversal, Trump hosted a joint press conference with NATO Secretary General Stoltenberg, just a few months after moving into the White House, in which he declared: "I said it was obsolete. It's no longer obsolete."

"The Secretary General and I had a productive discussion about what more NATO could do in the fight against terrorism. I complained about that a long time ago and they made a change. And now they do fight terrorism. I said it was obsolete. It's no longer obsolete."

Webmaster's Commentary: 

It appears that NATO is looking to assassinate whole populations, in Europe and beyond, into slave-like compliance to their dictates, with this kind of training.

Aug 18 07:48

Government Agents Admit Stealing Silk Road Bitcoins Seized By U.S. Marshals

Two rogue U.S. Secret Service agents, Shaun Bridges and Carl Mark Force, were caught and sentenced to prison for stealing Bitcoin funds that were seized in the Silk Road raid in 2015.

According to reports, Shaun Bridges plead guilty on August 15th for the theft of 1,600 bitcoins in federal custody in addition to funds confiscated after raiding the Darknet marketplace ran by “Dread Pirate Roberts,” now known to be Ross Ulbricht, Silk Road...

Aug 18 02:40

So When Will China’s Debt Bubble Finally Blow Up?

The upside is fake stability. The downside is too ugly to contemplate.

Aug 17 16:01

“Start Throwing Rocks”: Washington Post Op-Ed Calls For More Violence In The Streets

So how did we get to this place? How did we reach a point where America resembles Wiemar Germany, with white nationalists and socialist thugs battling it out on the streets and killing people?

If I were to pick one culprit for this mess, it would be the mainstream media. They’re the ones who have, for the most part, stood behind leftist ideologues for decades, and allowed them to bury public discourse under a wave of identity politics. They are at the very least, partly to blame. They’ve helped stoke divisions in this country that were once faint, or in the process of healing.

And if you don’t think the mainstream media is responsible for nudging our country towards war in the streets, then you should read this op-ed that was recently published by the Washington Post. It was written by N.D.B. Collins, an associate professor at Johns Hopkins University. In it, he appears to shamelessly call for the left to spawn more riots and violence in this country.

Webmaster's Commentary: 

This definitely smacks of Deep State manipulation, in order to see more unrest, which ultimately will result in President Trump being pressured to suspend the Constitution and Bill of Rights, and establish martial law, nationally.

More violence will only beget more violence; I cannot believe, for one moment, that Dr. N.D.B. Collins really believes this is the right path to follow.

But agents of the Deep State can come from surprising backgrounds, and have some interesting agendas.

It appears that whoever is sponsoring this article at the Washington Compost, is hoping such violence will have President Trump invoke martial law, so that
the warmongers in President Trump's cabinet, can get their wars on, with even peaceful protest forbidden.

Aug 17 15:46

Conspiracy or Chaos: “The Farce Of Competing Political Parties Is A Smoke Screen Used By The Deep State To Maintain Their Control” - James Quinn

It ultimately comes down to power and control over the key mechanisms of finance, taxation, legislation and the media. There isn’t one specific group of conspirators working together to rule the world. Is George Soros attempting to influence and control what happens in the U.S. and Europe to benefit his interests? Yes. Are the Koch brothers attempting to do the same with a different end goal? Yes. Are Pelosi and Schumer conspiring to push their left wing agenda? Yes. Are McConnell and Ryan conspiring to implement their establishment vision? Yes.

Aug 17 15:38

Stocks Slammed Amid 'Cohn Of Uncertainty' As Hindenburg Omen Cluster Nears Record

Between Bannon's China trade war threats and fears over Cohn leaving, risk was off today, not helped by dismal Industrial Production data and the utter horror in Barcelona... Trannies were worst but this was an ugly say all around and losses accelerate into the close ahead of tomorrow's OPEX...

Aug 17 15:27

“It’s Actually Quite Shocking” Top Silver CEO Explains How Huge Industry Changes Will Drive Prices To New Highs

There is a feeling of unease about central bank actions, various conflicts around the world, and an ever expanding involvement of governments in the private lives of their respective citizens. People are starting to understand that the propaganda party can’t go on for ever and that real crisis is just around the corner, if not already here.

Aug 17 14:46

The Fed Dropped The Hint That The Bubble Is About Pop

Housing recovery has never happened, the central banks having been keeping the illusion ongoing but it is falling apart.  

Aug 17 14:03

Putting An End To The Rent Economy

Originally, you didn’t want to become an economist. How did it come that you changed your plans and digged so deep into economics?

I found economics aesthetic, as beautiful as astronomy. I came to New York expecting to become an orchestra conductor, but I met one of the leading Wall Street economists, who convinced me that economics and finance was beautiful.

Aug 17 08:10

AG SUES COMPANIES THAT ALLEGEDLY BILKED VETERANS AND SENIORS

The Minnesota attorney general's office Wednesday filed suit against two companies that required military veterans and senior citizens to sign over significant portions of their monthly pension payments in exchange for loans of relatively small sums, often to cover household emergencies and basic living expenses.

The loans often charged annual percentage rates of 200 percent and extended for as long as 10 years.

Aug 17 07:08

Grocery Store Turmoil in Chicago

Aug 16 23:46

Why does Russia sell US debt securities?

Russia has been reducing its investment activities in the US national debt lately. According to the US Treasury, Russia held $102.9 billion on the balance sheet of the US debt, which was almost six billion less than in May. Thus, Russia went down to the 14th position among the holders of US debt securities. At the same time, China has increased the amount of funds placed in US government bonds. China has acquired US securities worth 44.3 billion dollars, having thus topped the list... "It is Chinese businesses that ask for US securities. National interest and interest of big business are two different things. In this case, it goes about the wish of Chinese entrepreneurs to keep their money in major countries. This applies to Chinese capital too. China, compared with other peripheral countries, holds the largest amount of foreign exchange reserves, and this has made China take the first place on the list"...

Aug 16 18:34

The Central Bankers Have Become Desperate, They Are Asking People To...

German and other countries are following in the US footsteps, there latest program cash for clunkers. Retail sales have improved according the corporate media. These numbers are manipulated to make you believe the retail has rebounded.

Aug 16 17:55

NotPetya ransomware attack cost us $300m – shipping giant Maersk

"In the last week of the quarter we were hit by a cyber-attack, which mainly impacted Maersk Line, APM Terminals and Damco," CEO Soren Skou said in a statement today.

"Business volumes were negatively affected for a couple of weeks in July and as a consequence, our Q3 results will be impacted. We expect that the cyber-attack will impact results negatively by USD 200-300m."

Admittedly Maersk is massive – it's responsible for around 15 per cent of the world's entire shipping network – but that kind of financial damage is close to a record for such an attack. Then again, the company's entire network was down for days, Skou told the Financial Times.

Aug 16 16:30

Soda Taxes: Pitched As A Solution, They Only Cause Problems

Soda tax advocates promise healthier communities and balanced budgets. So far neither promise has materialized anywhere the tax has been imposed, but that isn’t stopping more cities from using those dubious arguments to justify increasing taxes on their poorest citizens.

Cook County, Ill., is the latest to experiment with soda pop social engineering.

Aug 16 16:24

Why Bitcoin SCARCITY is an elaborate LIE

Aug 16 15:35

RAISE Act Would Save American Taxpayers $1.9 Trillion Over Next Decade

According to research compiled by Robert Rector, The Heritage Foundation’s senior research fellow on domestic policy, the RAISE Act could save America trillions of dollars in welfare, healthcare, and other social services over the coming decades.

Aug 16 14:49

Soros’s stock portfolio increased to $5.6B in Q2

In Q2 George Soros’s U.S. stock portfolio increased $660,000 million, according to a Seeking Alpha report titled “Tracking George Soros’s Portfolio – Q2 2017 Update.”

According to the report’s summary:

*Soros’ 13F portfolio value increased from $4.96B to $5.62B this quarter. The number of positions decreased from 260 to 203.
*They added Altaba and EQT while increasing TiVo and Time Warner.
*A large new short position in PowerShares QQQ ETF through Puts was established this quarter. Also, the SPY ETF Puts stake was increased while reducing the Russell 2000 ETF Puts.

Aug 16 14:21

High-Profile Sectors Start To Roll Over

Aug 16 14:18

Video: Subprime Auto Loan Defaults On The Rise

Bill Black the white collar criminologist says It is a very severe problem for consumers who are going to lose not only their cars.

Aug 16 10:57

Tech Rally Getting Thin?

Aug 16 10:24

Crews build controversial fence near homeless encampment in San Jose

Caltrans is building a taller, stronger wall in San Jose to stop homeless individuals from returning to an encampment, CBS San Francisco reports.

While the project has pleased many homeowners, it is generating a lot of anger in the community.

Caltrans workers have repeatedly cleaned up a large encampment under I-280, but the homeless keep returning.

Aug 16 09:21

Sanctions – A Conversation with Dr. Cynthia McKinney

The “Countering America’s Adversaries Through Sanctions Act” rocketed through the US Congress at record speed in July, imposing sanctions on Iran, North Korea, and Russia. Faced with a veto override, an unhappy President Trump signed it into law on August 2, 2017.

The response was swift. EU President Jean-Claude Juncker threatened retaliation. The German Minister for Economics and Energy, Brigitte Zypries, declared the sanctions illegal and urged the EU to take counter-measures. Russian Prime Minister Dmitry Medvedev announced that the law had ended the possibility of improving U.S.–Russian relations and signaled “an all-out trade war with Russia.”

Aug 16 09:08

NAFTA Renegotiation Begins: What Do US, Canada, Mexico Really Want?

11 months after he called it “the worst trade deal in the history of trade deals, maybe ever,” US President Donald Trump will be meeting with leaders from Canada and Mexico to renegotiate the North American Free Trade Agreement (NAFTA) starting on Wednesday.

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