ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 11 07:33

Russia is helping Venezuela skirt Donald Trump’s sanctions: report

Venezuela’s state-run oil company PDVSA is telling customers of its joint ventures to deposit oil sales proceeds in an account recently opened at Russia’s Gazprombank AO, according to sources and an internal document seen by Reuters on Saturday.

PDVSA’s move comes after the United States imposed tough, new financial sanctions on Jan. 28 aimed at blocking Venezuela’s President Nicolas Maduro’s access to the country’s oil revenue.

Feb 11 06:34

Debt Trifecta At All-Time Highs - Billionaires Panic

Debt Trifecta At All-Time Highs - Billionaires Panic: The national debt, ever on the rise, currently sits at around $22 trillion:

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(*RELATED:) N3: HUGE TRUMP VICTORY! LOOK Who Is About To Inject $10 BILLION Into America!

Feb 10 12:28

Telltale Signs of Recession

One characteristic that never makes it into the abstract statistical representation of recession is the light switch phenomenon: business suddenly dries up, as if someone turned a light switch off. This is especially visible in discretionary purchases, which include everything from smart phones to vehicles to eating out.

Feb 10 11:48

Debt Trifecta At All-Time Highs – Billionaires Panic

The “trifecta” of national, corporate, and consumer debt has reached all-time highs, and could prove to be catastrophic if a recession hits. -- Let’s start by quickly bringing each part of this debt trifecta up to date as much as possible…

Feb 10 09:07

Homeless Zombie Hordes Take Over Venice Beach

Feb 10 09:02

Oil Fields Are Refilling… Naturally – Sometimes Rapidly

Deep underwater, and deeper underground, scientists see surprising hints that gas and oil deposits can be replenished, filling up again, sometimes rapidly.

Although it sounds too good to be true, increasing evidence from the Gulf of Mexico suggests that some old oil fields are being refilled by petroleum surging up from deep below, scientists report. That may mean that current estimates of oil and gas abundance are far too low.

Recent measurements in a major oil field show “that the fluids were changing over time; that very light oil and gas were being injected from below, even as the producing [oil pumping] was going on,” said chemical oceanographer Mahlon “Chuck” Kennicutt. “They are refilling as we speak. But whether this is a worldwide phenomenon, we don’t know.”

Webmaster's Commentary: 

The oil companies like to claim oil is finite, the remains of dead dinosaurs, supporting high prices. But the fact that the oil fields refill supports the theory that petroleum is the product of deep crust microbes.

Feb 10 08:40

Eurozone’s economic growth forecast cut due to ‘large uncertainty’

The European Commission (EC) has slashed its growth forecast for the 19 countries that use the euro. It said even the lower estimate was vulnerable to large uncertainty from slowing growth in China and weakening global trade.

The EC is now expecting growth of 1.3 percent this year, down from 1.9 percent previously. It estimated that the eurozone could have grown by 1.9 percent last year, slowing from a 10-year high of 2.4 percent in 2017.

“A high level of uncertainty surrounds the economic outlook,” said the report. “Trade tensions, which have been weighing on sentiment for some time, have alleviated somewhat but remain a concern.”

Feb 10 08:36

European rail merger blocked, prompting backlash

The European Commission on Wednesday vetoed the planned merger of the rail units of French firm Alstom and Germany’s Siemens, a transaction that the governments in both Paris and Berlin had envisaged as creating a champion that could compete with Chinese competition.

The regulatory body’s decision has set up a confrontation with the European Union’s most influential members and could force changes to antitrust rules.

German Economic Affairs Minister Peter Altmaier announced immediately after the news that a joint effort with the French government was under way to seek reforms.

Feb 10 08:36

Trade wars could cost 2 million US jobs

As US business leaders grapple with consequences of the Trump administration’s inclination to use tariffs, new research released this month detailed the potential scale of the self-inflicted pain.

Washington DC-based consulting firm Trade Partnership Worldwide put together a report estimating the possible effects should the US go through with threatened escalation in tariffs on Chinese goods and new duties on foreign autos.

The damage inflicted to the US economy due to tariffs already imposed, as well as possible additional tariffs and retaliation, could end up shaving 1% off of GDP growth, while costing more than 2 million jobs, the economists found.

Feb 10 08:34

Trump dashes hopes he will meet Xi this month

US stocks fell on Thursday after White House officials signaled that President Donald Trump will not meet with his Chinese counterpart Xi Jinping before a critical March 1 deadline.

Trump later confirmed the news, replying “no” when asked by reporters in the Oval Office about a possible meeting. US officials have said that tariffs on Chinese goods will be raised if a deal is not reached by the end of this month.

The Dow Jones Industrial Average and S&P 500 Index closed down 0.87% and 0.94% respectively. Along with trade concerns, economic data released on Thursday reflected slowing global economic growth.

Feb 09 14:40

Recession: I Missed It!

Feb 09 11:47

Saudi-led coalition in Yemen launches a targeting operation in Sanaa

CAIRO (Reuters) - The Saudi-led coalition in Yemen launched a targeting operation in the Houthi-held capital, Sanaa, Saudi state TV reported on Saturday.

The operation targeted a location for storing and preparing drones and launch vehicles in Sanaa.

The coalition added that the operation conformed to international law and that measures were taken to protect civilians.

Webmaster's Commentary: 

Notice the cold, almost clinically detached, tone of the reporting.

And notice also, no images of the attack,with carnage raining down from the skies; and no mention of the number of civilians maimed for life or killed, many of them just infants and toddlers.

And that last statement "The coalition added that the operation conformed to international law and that measures were taken to protect civilians.", was simply cosmetic, to "save face" for when local first responders get to the site, and try, desperately, to untangle the living from the dead.

So Yahoo and Reuters, here is what life looks like in Yemen, courtesy of this Saudi-generated, US-enabled war against this country: (warning: very graphic images)

Images:
Dead, dying, and maimed for life kids, courtesy of US-enabled Saudi Bombing Runs

Images: Yemeni children dead, or dying of cholera, possibly weaponised, and with water resources deliberately destroyed by US-enabled Saudi military

Images of Yemeni children dying from malnutrition, because a US and Saudi blockade of Yemeni ports.

President Trump, I would have never thought for a moment, when you were campaigning, that you would continue to sign off on US aided and abetted Saudi war crimes in Yemen; and yet, you absolutely appear to have utterly no moral qualms whatsoever, about the assassinations of the innocent here, not to mention that your good friends in the weapons industry, are making such a killing, both literally, and financially, through this grinding war.

To the American Congress, which is the only body in the US government which can legally declare war, you must, lawfully, and peacefully, reclaim your power in this regard.

It is high time for both a very public, peaceful conversation about this Saudi-led, US-abetted war to happen, followed through upon, with veto-proof legislation Congress passes to get our contribution to this horrific genocide ended.

Feb 09 11:21

US Airstrikes Kill 15 in Somalia; General Warns Airstrikes ‘Not Enough’

AFRICOM claims al-Shabaab was trying to 'illegally tax' civilians
Jason Ditz Posted on February 8, 2019Categories NewsTags AFRICOM, Somalia
US African Command (AFRICOM) has reported that airstrikes against targets in Somalia have killed at least 15 “fighters” from al-Shabaab. Both strikes were in the Lower Shabelle region, with 11 killed Wednesday and 4 killed Thursday.

These are the latest in an ever-growing number of strikes inside Somalia. The US strikes have increased substantially in the past few years, and this year’s bombings have been even more frequent than the last year.

Following the strikes, AFRICOM head Gen. Thomas Waldhauser warned the Senate that despite the escalations, airstrikes were “not enough” to defeat al-Shabaab, and that Somalia’s local forces need to get more deeply involved in the conflict.

Webmaster's Commentary: 

I have to wonder, at what point General Waldhauser will call for "more American troops" in Somalia, if these air strikes continue to be "not enough."

Feb 09 11:17

Venezuela’s Guaido Won’t Rule Out Authorizing US Military Intervention

With the power struggle between Venezuela’s President Maduro and US-backed interim-president Juan Guaido continuing, Guaido now says he will not rule out personally authorizing a US military intervention to force Maduro out.

Guaido says he will “do everything that is necessary,” saying his goal is to generate “governability and stability to deal with the emergency.” He admitted that a US invasion is a “very controversial subject.”

That’s putting it mildly. Maduro’s ability to maintain power for years has rested on having the support of the military, and portraying his opponents as US puppets trying to foster a coup. With Guaido, the US is now very public about how much they endorse his rule, and how open they are to attacking Venezuela to make that happen.

Webmaster's Commentary: 

President Trump, two words, please, on this possible scenario, and sir, they are "HELL, NO!!"

As you are aware, Russian troops (Either private mercs, or Russian Special forces) have been imbedded with the best of Maduro's military, as of late last month.

Russia has huge financial interests in Venezuela; should those interests be potentially compromised by a US invasion/occupation, there will be hell to pay, sir.

And the other consideration here is, unlike many Americans who are completely ignorant of the real origins of their country, and how those origins came about, the Venezuelan people have a strong sense of their history, and how their country came into being.

Any US government invasion will cause these people to rise up, and cost the US government not only any shred of international credibility it may still have, but also the negative optics of such an invasion, here at home may well cost you re-election in 2020.

Mr. President, in order to win a war which transfers into a lasting peace, the aggressor has to be "on the right side of history"; in a potential invasion of Venezuela, the US government is on the polar opposite path.

You are welcome, sir!

Feb 09 11:09

Scott Adams: The News is Becoming Friendlier to President Trump Lately

Border budget negotiators report they might approve 2Billion
Tell us what the EXPERTS say we need, and what it costs
Is what you’re approving…what the experts say is needed?
Nobody cares about “percentages of crime”, when they’re a victim
I’ve been robbed but it’s okay. I’m in a low crime area
Annexing Mexico into America, should we?
The cartels are running the country to a large degree
“Turnaround Groups” for stabilization of failing countries?
UN controlled, a country applies to them for assistance
A neutral organization of turnaround specialists goes in
Limited time, they do a government reorganization
NO outside military presence imposing new government
Mike Cernovich and the New Green Deal
Mike says the New Green Deal is brilliant
They’re big ideas that we have no idea how to accomplish
The fact that it’s impossible is what focuses energy

Feb 09 10:57

POMPEO ATTEMPTS TO LINK IRAN, HEZBOLLAH TO CRISIS IN VENEZUELA

During a Wednesday night interview with FOX Business host Trish Regan, Secretary of State Mike Pompeo made several statements that raised eyebrows, such as claiming that Cuba had invaded Venezuela and “taken control” of the Venezuela’s “security apparatus” and that U.S. sanctions illegally imposed on Venezuela “aren’t aimed at the Venezuelan people.”

However, the most surprising claim Pompeo made in the interview was that Hezbollah and Iran were “active” in Venezuela, presenting a national security “risk for America.”

After accusing China, Cuba and Russia of interfering with U.S. efforts to install U.S.-funded opposition figure Juan Guaidó and oust current Venezuelan President Nicolás Maduro, Pompeo made the following assertion:

Webmaster's Commentary: 

Forgive me, but has this man gone absolutely bonkers, and swallowed the Koolaid, in order to make that assertion?!?!?

But I can imagine, after Pompeo's having made such a ludicrous statement, what the follow-through action is going to have to be; something in Venezuela, or an American asset overseas, will be hit with a US-generated false flag, to be blamed both on Iran and Venezuela, and off we'll go.

Pompeo and President Trump have to know that, after all the lies about US intentions overseas, coupled with the hard economic truth of why we have invaded so many countries, Americans are both war-weary, and war-skeptical.

If Pompeo stops making reference to this, perhaps it was just a lousy attempt to somehow tie Hezbollah and Iran into this destabilization in Venezuela; but if he continues harping on this, you can bet your sweet bippy that something wicked this way comes, even if the US government has to fabricate it.

Feb 09 10:45

Payless Prepares Second Bankruptcy In Under Two Years

It feels like it was just yesterday that we wrote about Payless (ShoeSource) Inc. filing for bankruptcy back in 2017. Well, it's deja vu time because less than two years after emerging from its first Chapter 11, Payless is is preparing for its second trip to bankruptcy court with a plan to shrink the size of the discount shoe chain even further, according to Bloomberg.

It's unclear if this filing will be a Chapter 11 or a Chapter 7 liquidation: the retailer, which is seeking a DIP loan, is said to be discussing plans to shutter a significant portion, and potentially all of its North American stores.

Once it files - again - Payless will be the latest in a wave of retail bankruptcies (and re-bankruptcies) during the past two years as online rivals and heavy debt overtake once-iconic brands like Toys “R” Us and Sears.

Feb 09 10:45

BofA: The Greatest Risk Over The Next 3 Years Is An Acceleration Of Global Populism

BofA was confident that the bullish case will, sooner or later, push enough investors into the stock market because of, first and foremost, policy as the global central bank tightening cycle is now ending (rolling 6-month rate hike tally peaked at 33 hikes in Oct'18, now 23), while the Fed panic over a global "credit event" worked, noting that the epicenter of pain, levered loans, are now back near all time highs.

Additionally, there has been a clear shift in if not investor then algo "psychology" because what was until recently a "sell the rip" mentality, has once again mutated into "buy the dip": according to Hartnett, in 2018 correct strategy was "sell-the-rip", something which Morgan Stanley correctly observed first last October, however that has now changed.

Feb 09 10:43

'Technological Powerhouse': India May Cash In on Trump's Asia Pivot – Journo

India's rise is gaining momentum while the US is increasing pressure on China. Speaking to Sputnik, journalist and foreign affairs analyst Rakesh Krishnan Simha explained how Washington is using the New Delhi card in the Asian geopolitical game and how India could capitalise on Donald Trump's Pacific Pivot.

India has become the focus of both the EU and the US' attention: While the International Monetary Fund's 2019 World Economic Outlook predicts that India is going to come out on top in terms of economic growth in 2019-2020, Trump's Asia Reassurance Initiative Act of 2018 (ARIA) provides New Delhi with access to US technology.

"It is natural that a country of India's size, resources and scientific talent will do well when allowed to grow without restrictions. India's rise is therefore a rightsizing of the global economy to how it always used to be — Asia centric", journalist and foreign affairs analyst Rakesh Krishnan Simha told Sputnik.

Feb 09 10:14

By Threats, Sanctions, and War, Washington Rules the World

One of the most disturbing aspects of the past two years of Donald Trump foreign policy has been the assumption that decisions made by the United States are binding on the rest of the world. Apart from time of war, no other nation has ever sought to prevent other nations from trading with each other. And the United States has also uniquely sought to penalize other countries for alleged crimes that did not occur in the US and that did not involve American citizens, while also insisting that all nations must comply with whatever penalties are meted out by Washington.

Feb 09 10:02

U.S. sues Lockheed, others for alleged kickbacks on nuclear site cleanup

The United States has sued Lockheed Martin Corp, Lockheed Martin Services Inc, and Mission Support Alliance LLC, as well as a Lockheed executive for alleged false claims and kickbacks on a multibillion-dollar contract to clean up a nuclear site, the Justice Department said on Friday.

The complaint alleges Lockheed paid more than $1 million to Mission Support Alliance executives in order to win a $232 million subcontract for providing management and technology support at the Hanford, Washington site from 2010 through the middle of 2016 at inflated rates.

It also says the defendants lied about the amount of profit included in Lockheed's billing rates.

A Lockheed Martin spokeswoman denied the allegations, saying the company "rejects the suggestion that the corporation or its executives engaged in any wrongdoing. Lockheed Martin will defend this matter vigorously."

Webmaster's Commentary: 

I have to wonder; how soon will the US government sue its weapons makers for not delivering on time, delivering equipment which does not perform as promised, and has obscene cost overruns?!?

Feb 09 09:58

URGING DEFECTIONS, TRUMP ADMINISTRATION REPORTEDLY HOLDING SECRET TALKS WITH VENEZUELAN MILITARY

In an effort to encourage defections from Venezuela's elected President Nicolas Maduro, the Trump administration is reportedly holding secret talks with members of the Venezuelan military as top U.S. cabinet officials continue to issue aggressive threats and push for regime change.

According to Reuters, which cited an anonymous senior White House official, the U.S. "is holding direct communications with members of Venezuela's military urging them to abandon President Nicolas Maduro and is also preparing new sanctions aimed at increasing pressure on him."

"The Trump administration expects further military defections from Maduro's side," Reuters reported, "despite only a few senior officers having done so since opposition leader Juan Guaido declared himself interim president last month, earning the recognition of the United States and dozens of other countries."

Webmaster's Commentary: 

This is one of the most blatant, in-your-face attempts at regime change I think I have ever witnessed this life time.

And trust me, this is not "for the good of Venezuelan people"; it is for massive control of one of the most huge stores of oil on the planet, including more oil just discovered in the Orinoco Basin of Venezuela.

I feel very sorry for the Venezuelan people, for what they have suffered, under American sanctions, and will suffer, as the increasing instability in their country becomes "the new normal."

There have been some conflicting accounts as to how many special Russian troops have been sent to Venezuela; some may be Spetsnaz troops, and others from an independent, Russian mercenary group, like The Wagner Group; but it is very certain that Russia's investment will not be lost without a fight.

This could well set the stage for a "proxy war" over Venezuela's oil holdings, between the US and Russia, and I am seriously hoping that will not happen. But everything I am seeing seems poised to go in that direction.

Feb 09 09:55

Next Stop: Recession!

Feb 09 09:51

United States Trade Negotiators Heading to China

United States trade negotiators will make the trek back to China starting February 11 to participate in high-level talks ahead of the March 1 tariffs truce deadline.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will take part in principal-level meetings in Beijing with Chinese counterparts on February 14 and 15, President Donald Trump announced Friday. Deputy U.S. Trade Representative Jeffrey Gerrish will lead advance deputy-level talks beginning February 11, ahead of Lighthizer and Mnuchin’s arrival.

Feb 09 09:29

WORRISOME NONSTICK CHEMICALS ARE COMMON IN U.S. DRINKING WATER, FEDERAL STUDY SUGGESTS

Olga Naidenko, EWG’s senior science adviser, notes that it is unusual for researchers to detect PFAS chemicals in drinking water above the EPA advisory level. And she believes the agency’s existing advisory levels for PFOS and PFOA “are not sufficiently protective.” Communities with high concentrations, she says, should be informed.

The stakes surrounding studies of PFAS prevalence, concentrations, and human health impacts are immense. Stricter standards could force U.S. drinking water suppliers to spend hundreds of billions of dollars to remove the chemicals. And they could require those who used the chemicals—including industrial facilities, fire fighters, and the U.S. military—to pay for cleanups and potentially even damages for people who can show their health was harmed by the substances.

Feb 09 09:26

THE U.S. FACES A CATASTROPHIC FOOD SUPPLY CRISIS IN AMERICA AS FARMERS STRUGGLE : SOURCE: MAC SLAVO @ SHTFPLAN.COM

American farmers are battling several issues when it comes to producing our food. Regulated low prices, tariffs, and the inability to export have all cut into the salaries of farmers. They are officially in crisis mode, just like the United States’ food supply.

“The farm economy’s in pretty tough shape,” said John Newton, chief economist at the American Farm Bureau Federation. “When you look out on the horizon of things to come, you start to see some cracks.” Average farm income has fallen to near 15-year lows under president Donald Trump’s policies, and in some areas of the country, farm bankruptcies are soaring. And with slightly higher interest rates, many don’t see borrowing more money as an option. “A lot of farmers are going to give the president the benefit of the doubt, and have to date. But the longer the trade war goes on, the more that dynamic changes,” said Brian Kuehl, executive director of Farmers for Free Trade, according to Politico.

Webmaster's Commentary: 

Occasionally, one of the Big Box stores has a sale on survival food and gear; the next time that happens, it would make sense for you to invest in something like this.

If you haven't already figured out what you and your family need to "hunker down" for awhile, if it is safe enough where you live to do this, please do so now. This means potable water, dried food, and whatever meds in advance of needing them.

This also means, if you have a kid in school, that you become very familiar about the circumstances of getting your kid OUT of school, should the excrement hit the ventilation system, and which adults (or older siblings) may take them out of school, at your request.

Have a bug-out kit prepared for the car, if you need to get out of town quickly.

Prepping is not some wild, fool's errand; it is an investment in your own, and your family's future, should things go south in this country.

Feb 09 09:17

"WTF IS GOING ON IN DOWNTOWN LA?": ARMY WAR DRILLS CONTINUE ACROSS LOS ANGELES

Having started on Monday, the US Army continues its war drills across the greater Los Angeles metropolitan area through Saturday with the goal of enhancing Army Special Forces skills by "operating in urban environments", Army Special Operations Command said in a statement.

“The local terrain and training facilities in Los Angeles provide the Army with unique locations and simulates urban environments the service members may encounter when deployed overseas,” the Army told CBS.

Downtown Los Angeles residents were shocked Monday night when a fleet of Boeing A/MH-6M Little Bird and Sikorsky UH-60 Black Hawk helicopters swooped in around them.

This is not the first time residents of a major metropolitan area across the US have experienced a military exercise. For instance, in 2015, Texas residents prepared for Jade Helm 15, an army training exercise which took place in multiple states.

Webmaster's Commentary: 

The latter possibility makes the most sense; And I say this, because there are many things about to fail, economically, and socially, that might get people protesting to the point of riots which, of course, would have to be put down "with extreme prejudice" by our military, even if it means killing their own citizens.

Feb 09 08:42

The World’s Most Valuable Bank Brands

Feb 09 08:14

The Time To Be Short (Again) Has Arrived

Feb 09 07:51

$VIX 50+ Target

Feb 09 07:41

Is Overbought A Good Thing?

Feb 08 20:12

Cashless trend worries lawmakers: "If it's not discrimination, it's elitism"

Nationwide, Dos Toros, Dig Inn, and Tender Greens now refuse paper money. Reportedly Milk Bar, Starbucks, Amazon, Walmart and Shake Shack have recently experimented with cashless stores.

That trend worries Philadelphia councilman Bill Greenlee.

"I go in to get a cup of coffee, I can get it because I have a credit card, but the person behind me that doesn't have a credit card, is told they can't get a cup of coffee. Something doesn't seem right about that," Greenlee said.

According to the federal government, more than 14 million Americans don't have bank accounts, which makes getting credit cards very difficult.

Feb 08 18:56

Watch out below!

Feb 08 14:36

GM- 14,000 layoffs

Feb 08 13:10

50 Days Until America’s ‘Brexit Prize’ Becomes Reality

The New Republic reports as other publications do that – “A web of wealthy think tanks, lobbying groups, and organizations that seem to blur the line between such distinctions are behind the Brexiteers. These individuals and organizations are bound by a shared dream of deregulating the British economy and opening it up to U.S. markets—billed as the “Brexit prize.”

The American magazine continues:

“The main proponents of a hard Brexit are radical free-market Conservatives with a history of trans-Atlantic ties. A recent blueprint for a future U.K.-U.S. trade policy post-Brexit shined a light on the shared interests their project entails. The proposal listed as contributors a nexus of British and American libertarian organizations and received glowing endorsements from Brexit’s most influential figures.“

Feb 08 12:52

Is slavery alive and well in the United States prison system?

Prison Labor: Modern SLAVERY?

Feb 08 12:43

MASSIVE LAYOFFS: The Auto Bubble Is Bursting!

Feb 08 09:59

Trade Deficit Tumbled as Imports from China Plummeted

The Trump administration’s tariffs on China helped push down the trade deficit to its narrowest in five months.

The trade deficit, which measures the difference between imports and exports, fell 11.5 percent from October to a seasonally adjusted $49.3 billion in November, the Commerce Department said Wednesday.

Economists had been looking for a rise to $54.3 billion.

Feb 08 09:53

The U.S. Faces A Catastrophic Food Supply Crisis In America As Farmers Struggle

American farmers are battling several issues when it comes to producing our food. Regulated low prices, tariffs, and the inability to export have all cut into the salaries of farmers. They are officially in crisis mode, just like the United States’ food supply.

“The farm economy’s in pretty tough shape,” said John Newton, chief economist at the American Farm Bureau Federation. “When you look out on the horizon of things to come, you start to see some cracks.” Average farm income has fallen to near 15-year lows under president Donald Trump’s policies, and in some areas of the country, farm bankruptcies are soaring. And with slightly higher interest rates, many don’t see borrowing more money as an option. “A lot of farmers are going to give the president the benefit of the doubt, and have to date. But the longer the trade war goes on, the more that dynamic changes,” said Brian Kuehl, executive director of Farmers for Free Trade, according to Politico.

Feb 08 09:52

Farmer bankruptcies swell to decade high in Farm Belt

U.S. farmers in the Midwest are filing for bankruptcy at levels the U.S. hasn’t seen for approximately a decade, the Wall Street Journal reports.

What's happening: Low commodity prices have been gouging U.S. farmers’ bottom lines for years now, exacerbated by increasing agricultural competition from Russia and Brazil. President Trump’s trade disputes, meanwhile, are adding salt to the wounds, as tariffs drive down prices and decrease profit for farmers.

Feb 08 09:46

Dems Unveil The Stupidest 10-Year-Plan In The History Of The World

The Democrats' "Green New Deal" is so stupid you have to applaud Alexandria Ocasio-Cortez for having the temerity to release it to the public.

Feb 08 09:44

Living paycheck to paycheck: The new crisis and normal for the American middle class

According to recent studies, the vast majority of the American middle class is only one missed paycheck away from poverty. About 78% of workers in the United States are living paycheck to paycheck, and the statistics don’t improve from there.

Feb 08 09:37

Midwest US Farmers Going Bankrupt Faster Than During 2008 Recession

Twice as many farmers in Illinois, Indiana and Wisconsin filed for bankruptcy in 2018 as did during the 2008 recession, statistics from the 7th Circuit Court of Appeals show.

Sinking commodity prices, China's retaliatory tariffs and increasing agricultural competition from Russian and Brazilian producers are some reasons why farmers in the Midwestern region of the United States are declaring bankruptcy, The Wall Street Journal reported Wednesday.

Prices have been pushed lower "due to lost markets because of the administration's trade wars," a spokesman for the National Farmers Union (NFU) told Sputnik News, adding that "prices will likely continue to be depressed for years to come because we have lost our reputation as a reliable trading partner."

Feb 08 08:53

The Wealthy Should Prepare to Be Soaked

Feb 08 08:53

China Confident Trump Will Drop Tariffs Even Without Concessions

With just three weeks left until the deadline for the US and China to reach a trade deal, there has been remarkably little progress: after several months of talks, the two sides are still far apart on major issues, as Larry Kudlow admitted earlier on Thursday, even as new multibillion-dollar U.S. tariffs are set to kick in next month if no accord is achieved.

Feb 08 08:52

No-deal Brexit: UK exporters risk being locked out of world's harbours

British exporters sending goods to far-flung destinations in the coming days risk being locked out of harbours around the world as a no-deal Brexit looms, business leaders have warned.

Independent trade experts and the UK’s biggest business groups said exporters could be dispatching goods from UK ports imminently that would not arrive until after the 29 March deadline. This raised the prospect of goods being stuck in ports or facing hefty additional costs in the event of a disorderly Brexit.

The warning came as the Bank of England warned the UK economy was on course for its weakest year since the global financial crisis, as evidence suggested Brexit jitters were spreading.

Webmaster's Commentary: 

I suspect this is just more fear-mongering by Eurocrats. The people who want to import from Great Britain will still want to import from Great Britain. Harbors make money off of ships that load and unload. So why would they block UK ships?

Feb 08 08:50

Trump Reverses Wage-Boosting Campaign Commitment, Demands More Legal Immigration: ‘We Need People’

President Trump is reversing his campaign commitment to reduce overall legal immigration levels to the United States in order to raise the wages of America’s working and middle class, as he is now demanding more immigration.

During his State of the Union (SOTU) address this week, Trump went off-script while discussing national immigration policy, saying he wanted to admit “the largest numbers ever” of legal immigrants to the country.

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