ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 13 09:22

Crohn’s Disease and Marijuana: Efficacy, Research and Dosing

Four years of continuous flares and I am at that point. Lost 15 lbs. this week. Have some other major problems too. Feel like the world is crashing in on me.
Will be sketchy the next few months as far as posting. I will survive.

Crohn’s Disease is a debilitating autoimmune illness which can break the spirit of even the toughest individual.

Crohn’s Disease is an inflammatory bowel disease, for which the cause has not yet been fully identified. The most accepted theory to date is that Crohn’s is both genetic and environmental – flaws in the in-born immune system combine with various outside factors to produce the development of disease.

Jul 13 07:48

Party as if there is no trade war?

Jul 13 06:02

Zuckerberg Dumping FB Stock

Jul 13 05:41

Poundworld to close another 80 stores

Another 80 Poundworld stores will be closed, resulting in 1,024 job losses, the company's administrators have said.

The latest announcement means that 105 of the company's 335 stores are now earmarked for closure.

Poundworld went into administration last month after failing to cope with rising costs, fewer shoppers and greater competition.

The company's administrators, Deloitte, said talks to sell remaining parts of the business continue.

Jul 13 03:43

The mother of all credit crises is coming...

Jul 13 03:43

America’s Phony Economy

Jul 12 17:23

With this Inflation, What Will the Fed Do?

Jul 12 16:13

FANG seems fundamentally worthless?

Jul 12 14:34

ALERT: “This Happened Prior To 6 Of The Last 7 Recessions”

“This less-followed indicator has a good enough relationship with recession risk during the last 50 years that it should not be ignored,” warned Jim Paulsen, Leuthold’s chief investment strategist, in a note to clients this week.

Having warned last week that “it’s been too quiet, for too long,” Paulsen now sees the potential catalyst for the market’s next move as low-rated investment-grade credit spreads blow out beyond an historically crucial level.

As Bloomberg reports, for the first time since just prior to the 2007-2009 recession, premiums on the lowest-rated tranche of investment-grade U.S. corporate bonds have risen to 2 percent after being below that level, according to data compiled by the Minneapolis-based research group.

The analysis looks at the gap in yields between corporate debt rated Baa by Moody’s Investors Service and those on 10-year Treasuries.

Jul 12 14:21

"This Is A Very Scary Scenario": Restructuring Legend Warns Of Coming "Perfect Storm"

Two months ago, we brought to your several very concerning quotes from some of the nation's top restructuring bankers, of which the most dire warning came from Bill Derrough, the former head of restructuring at Jefferies and the current co-head of recap and restructuring at Moelis who admitted that: "I do think we're all feeling like where we were back in 2007. There was sort of a smell in the air; there were some crazy deals getting done. You just knew it was a matter of time."

What he is referring to is not just the overall level of exuberance, but the lunacy taking place in the bond market, where CLOs are being created at a record pace, where CCC-rated junk bonds can't be sold fast enough, and where the a yield-starved generation of investors who have never seen a fair and efficient market without Fed backstops, means that the coming bond-driven crash will be spectacular.

Jul 12 14:02

European Powers Prepare to Scrap Dollar in Iran Trade as Disgust with “America First” Policies Mount

As Western capitals brace themselves for Wednesday’s two-day NATO summit, Iranians and Europeans alike are hoping EU leaders can finally put their money where their mouth is and unshackle themselves from U.S.-imposed hegemonic bondage.

While the White House’s frenzied anti-Iran campaign has entailed unprecedented attempts to twist the arms of the United States’ traditional European allies, the pressure may be backfiring – a reality made all the more clear by Russian Foreign Minister Sergei Lavrov’s claims that Europe’s three major powers plan to continue trade ties with Iran without the use of the U.S. dollar.

The move would be a clear sign that the foremost European hegemons – France, Germany, and the United Kingdom – plan to protect the interests of companies hoping to do business with Iran, a significant regional power with a market of around 80 million people.

Webmaster's Commentary: 

When the very bright people who comprise the IAEA tell me, and the world, that Iran is completely in compliance with the P5+1 agreement, I would tend to believe them.

This coming sidlining of the US dollar by Europe and Iran in their trading, is yet another unintended consequence of President Trump's withdrawing the US from the treaty.

And what is President Trump going to do to stop this, literally go to war with every country trading with Iran, including Russia?!?!?

That... would be absolute madness.

But unfortunately, just because a move the US government could make is the most ham-fistedly, big-headedly stupid move it could make, is utterly no guarantee that it won't do it.

Jul 12 13:22

Helsinki: How About a Fresh START?

As US President Donald Trump heads to Helsinki for a summit with Russian President Vladimir Putin, Trump’s critics continue to inveigh against what they consider an illicitly close relationship between the two, a perspective stemming from the “Russiagate” scandal drummed up by supporters of Hillary Clinton to explain her defeat in the 2016 presidential election.

Russiagate or not, this summit may represent the two countries’ last, best opportunity to halt or even reverse a decade of backsliding toward frigid Cold War relations. And Trump has a ready template at his disposal for pursuing warmer relations with a formidable, but hopefully former, foe.

Webmaster's Commentary: 

This is an absolutely reasonable stance for both countries to be taking at this time, and will definitely ratchet down the tensions here.

Jul 12 12:55

WALMART PATENTS "BIG BROTHER-STYLE" SURVEILLANCE TECHNOLOGY TO EAVESDROP ON WORKERS' CONVERSATIONS

Just the latest corporation to spark privacy concerns over worker surveillance efforts, Walmart has patented audio technology that would allow the retail giant to eavesdrop on conversations among employees and between clerks and shoppers, to measure employee performance.

According to the patent document filed with the U.S. government, Walmart is calling the invention "listening to the frontend." The patent reads, in part:

Many different types of sounds result from people in a shopping facility. For example, guests of the shopping facility may talk amongst each other or with employees of the shopping facility. Additionally, guests and employee movements and activities can generate additional sounds. A need exists for ways to capture the sounds resulting from the people in the shopping facility and determine performance of employees based on those sounds.

Jul 12 12:49

BLACK TENNESSEE FARMERS ALLEGE SEED COMPANY SOLD THEM DEFECTIVE SEEDS TO RUN THEM OUT OF BUSINESS

Thomas Burrell, president of the Black Farmers and Agriculturalists Association, asserted that the blame lied with the seed company as “mother nature doesn’t discriminate.”

In an interview with WMC Actions News 5, Burrell opined,

It doesn’t rain on white farms but not black farms. Insects don’t [only] attack Black farmers’ land … why is it then that white farmers are buying Stine seed and their yield is 60, 70, 80 or 100 bushels of soybeans and Black farmers, who are using the exact same equipment with the exact same land, all of a sudden, your seeds are coming up 5, 6, and 7 bushels?” “

They [the farmers] were effectively duped,” he added.

Webmaster's Commentary: 

IF in fact these allegations are proven true, this seed company should be sued out of existence.

Jul 12 10:20

Consumption is America’s Achilles’ heel in a trade war

US household budgets are so stretched that relatively small price increases cause a reduction in spending. That already is clear from consumer response to rising oil prices.

If the Trump administration’s tariffs on Chinese and other imports turn into noticeable price increases, consumer spending could crumple in a matter of months, and US economic growth could fall to close to zero from an estimated 2.8% to 4% for the second quarter.

Jul 12 10:00

Here's How China Can Crush US Tech Firms If Trade War Escalates

President Trump rattled stocks on Wednesday after the Commerce Department rolled out its list of Chinese products, representing $200 billion in imports, that could soon face 10% tariffs Tuesday night - the latest sign that the escalating trade war between the US and its largest economic rival is still heating up. And, echoing recent comments from Morgan Stanley, on Wednesday morning, Bloomberg pointed out that China could soon opt to "trip up" US tech firms operating in the region, something that MS analysts say could have serious repercussions for US equities which have yet to be adequately priced in by the market, and which earned the tech sector a downgrade to underweight.

Jul 12 09:58

Trump Doubles Down: Threatens Sanctions On European Investors In Russian Pipeline

With less than a week to go before President Trump is scheduled to meet with President Putin in Helsinki, the State Department has decided to renew its pressure campaign on Western businesses invested in Russia's Nord Stream 2 pipeline to Germany.

According to Reuters, the State Department has doubled down on previous warnings to Europe, most recently in May when Trump gave Merkel an ultimatum to drop the Russian gas pipeline, and has been "making it clear" to firms involved with "the Russian energy export pipeline sector" that they're at risk of being sanctioned.

"We have been clear that firms working in the Russian energy export pipeline sector are engaging in a line of business that carries sanctions risk," a spokesman for the U.S. State Department told Reuters.

Jul 12 09:57

Trade War Becomes "Tech War" As Trump Cracks Down On China's Rare Earth Metals

While a closer read of the 200+ page schedule released last night by the Trump administration that listed all the exports captured by the $200BN in new proposed Chinese tariffs revealed some oddities such as badger hair, bovine semen, frog legs, flamethrowers, fetal bovine serum and blood, one product group stood out: rare-earths, an esoteric collection of minerals with strange names (Dysporsium, Europium, Neodymium, Lanthanum and Yttrium), which all have niche, high-tech applications and a history of scarcity. They’re used in everything from cell phones to hybrid vehicles to wind turbines and military hardware, which as Bloomberg writes suggests that the trade war is starting to hit its stride as a tech war.

But more importantly to the trade - or now tech war - is that China is effectively the only producer in size of these critical components that keep America's high tech industry running.

Jul 12 09:16

Pepe Escobar: China's Silky Charming Of Arabia

President Xi Jinping has promised more than $23 billion in loans and aid to Arab states, as Beijing ramps up ties with the Middle East; this includes aid for Palestine; Beijing foresees importing a whopping $8 trillion from Arab states up to 2025

Jul 12 08:42

US & Israel want to stop Iran from withdrawing its cash from Germany

Iran wants to withdraw €300 million ($350 million) from bank accounts in Germany before US sanctions kick in, German newspaper Bild reports. The United States and Israel are reportedly pressuring Berlin to intervene and stop it.

Iranian officials told the German Financial Supervisory Authority (BaFin) the money is needed “to pass on to Iranian citizens who require cash while travelling abroad, given their inability to access recognised credit cards,” Bild reports.

BaFin has been reviewing the request, the media says. Senior officials in the Chancellery, Foreign Ministry and Finance Ministry have been made aware of the situation.

Tehran has accounts at the Europaeisch-Iranische Handelsbank AG (eihbank). The lender was subject to sanctions from 2010-2016, for allegedly financing the Iranian nuclear program.

US and Israeli intelligence agencies have said the money could be used by Iran to fund armed groups in the Middle East, according to the media.

Jul 12 08:41

If US gets its way with Iran, oil could spike to $120, says Bank of America

The U.S. is demanding zero purchases of Iranian oil by November, and if that were possible, oil could spike above $120 per barrel, given global crude supplies, says Bank of America Merrill Lynch.

"In our view, a complete cutoff of Iran exports would be very hard to manage and likely result in an oil price spike above $120/bbl. For now, the uncertainty around US government policy is leading to lower exports and an increase in Iranian oil in floating storage," wrote Francisco Blanch, BofAML head of global commodities and derivatives research.

Analysts are skeptical the U.S. can keep even half the Iranian exports of about 2.4 million barrels a day from the market, but some have raised their expectations since U.S. officials began talking up their goal of removing all Iranian exports. They have also warned of potential price spikes if there are any more unexpected production outages in the world.

Jul 11 23:53

Veteran Investor: The Trade War Is A Warm-Up For A Financial Crisis

Central banks have begun hiking interest rates too in response to the economy. But hikes are a “short-term fix” and they could be counter-productive for countries with high amounts of debt (like the United States), Mobius said, adding that governments need to put their finances in order to restore investor confidence. Mobius then predicted that there will be a few “winners” in the trade war, but the United States will not be one of them.

Jul 11 23:39

Globalists Are Telling Us Exactly What Disasters They’re Planning For The Economy

At the core of their organization is the desire for total power, built upon full-blown narcissism and sociopathy leading to naive notions that godhood, for them, is attainable.

Jul 11 14:24

Flattening Yield Curve Portends Recession

Jul 11 12:53

John Rubino – Sell the Car, Sell the Stock

Jul 11 11:36

The China Slowdown

Jul 11 09:27

"Past Point Of No Return": World Markets Tumble Amid Global Trade War Shockwaves

In almost every way, the overnight trading action has been a mirror image of the ramp observed on Monday morning, when trade tensions - inexplicably, one trading day after trade war started - were said to have "gone away" leading to a furious global rally.

Jul 11 08:51

6 Reasons to Expect A Crash in Stocks Soon

Jul 11 08:05

Contesting America? China pumps reconstruction money into Middle East amid US trade war

China has promised a massive package of loans and aid to Middle Eastern nations, while US influence in the region is seemingly fading. Analysts discussed with RT whether Beijing has more in its sights than just economic interests.

Xi, speaking at a meeting with Arab League nation representatives in Beijing, heralded an "oil and gas plus" plan to pour Chinese money into the Middle East. It will include $20bn in loans for projects in countries with reconstruction needs.

Apart from that, China will give $90 million in humanitarian and reconstruction aid to war-torn Syria, Yemen, Jordan, and Lebanon, and $15 million to Palestine.

Jul 11 06:22

U.S. on its way to be world’s largest oil producer

The U.S. has been cranking out more than 10 million barrels of oil daily since February and the demand is only getting bigger.

Jul 10 16:37

CASINO MOGUL SHELDON ADELSON WANTS TO OPEN UP BUSINESS IN NORTH KOREA

Sheldon Adelson is looking to expand his business to North Korea, the casino mogul himself said during a recent event in Jerusalem. Mr. Adelson, whose net worth is believed to total $43.4 billion as of June 2018, is the founder, Chairman, and CEO of Las Vegas-based gaming and hospitality giant Las Vegas Sands Corp. The company operates multiple integrated resort properties in Las Vegas, Macau, and Singapore, and is eyeing expansion across new markets.

Jul 10 14:51

US Equity Futures Tumble As US Readies $200 Billion China Tariff List

Just when you thought it was safe to BTFTrade War Dip, a headline hits to remind you that President Trump is anything but done with China.

Bloomberg reports that President Donald Trump is preparing to release a list of an additional $200 billion in Chinese products to be hit with tariffs, according to two people familiar with the matter.

"The list could be released as soon as Tuesday, and likely this week", according to Bloomberg sources. The publication of the list starts a weeks-long process that includes a public-comment period and hearings.

The potential unveiling comes as Trump is stil considering imposing duties on another $16 billion in Chinese goods, following a public hearing later this month. China, of course, as vowed to retaliate tit-for-tat and dollar-for-dollar to all future US tariffs.

The immediate result: Dow futures plunge 200 points in the blink of an eye.

Jul 10 12:37

Lawyer: Monsanto Bullied Scientists And Hid Weedkiller’s Cancer Risks

A lawyer on Monday argued that Roundup creator Monsanto hid the cancer-causing effects of their weedkiller and bullied scientists into making claims it was safe. In a landmark lawsuit against the global chemical corporation, the lawyer didn’t hold back in his accusations against Monsanto.

“Monsanto has specifically gone out of its way to bully … and to fight independent researchers,” said the attorney Brent Wisner, who presented internal Monsanto emails that he said showed how the agrochemical company rejected critical research and expert warnings over the years while pursuing and helping to write favorable analyses of their products. “They fought science,” added Wisner, who is representing Dwayne Johnson. Johnson alleges Monsanto is to blame for the cancer that has been aggressively spreading throughout his entire body.

Webmaster's Commentary: 

If any corporation deserves to be sued out of existence, it surely has to be this one, for all the horrendous harm it has caused!!

Jul 10 09:36

The Real Data Show The Real Economy Hit A Wall

The economy is melting down – the only support for the Propaganda Narrative of a “booming economy” is a rising stock market. Without a doubt Trump has ordered the Working Group on Financial Markets – AKA “the Plunge Protection Team” – to push stocks higher for now so insiders can unload.

The huge jump in credit card debt reported yesterday by the Fed was received as “good news” for consumer spending. However, this is typical technical color vomit served up through the mainstream financial media by Establishment “economists” and Wall Street. The likely explanation is that the average consumer is now forced to use revolving credit in order to maintain the current lifestyle. This assertion is reinforced by the fact that the latest data from Transunion show that personal loans hit a record high in Q1 2018.

Jul 10 09:04

Erdogan gains power to appoint Turkey’s central bank governor

Recep Tayyip Erdogan has gained the power to appoint the governor of Turkey’s central bank and hundreds of other senior officials, unnerving markets as the country’s new executive presidency comes into force.

The Turkish leader issued his first set of presidential decrees just hours after being sworn into office, triggering the transition to a muscular system of governance that Mr Erdogan has sought for years. The new model, which was narrowly approved by a contentious referendum last year, has abolished the role of prime minister and given unprecedented powers to the president.

Turkish stocks and bonds tumbled as investors fretted about the new system and Mr Erdogan’s decision to appoint his son-in-law Berat Albayrak to head the newly formed treasury and finance ministry while sidelining Mehmet Simsek and Naci Agbal, two market-friendly figures who held senior posts in the previous government.

Jul 10 08:58

These Pictures. What is Wrong

Sometimes details obscure the bigger picture. The following graphs do not show most of the details and “noise.” These log-scale graphs show one bar every four years (plus April 2018) based on official debt on July 1st, or the average of monthly closes every fourth year for M3, stock indices, houses and commodities.

Jul 10 08:35

INCOME IN THE 1960s VERSUS 2018

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