ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Oct 22 09:11

Medicaid Is A Scam

People getting MassHealth assume they are getting health insurance. In fact, if they are over 55, they are only getting a loan for health coverage which they must pay back from their estate (their home, their savings, their personal property) after they die. The process by which the state recovers the cost of your health care coverage is is called “estate recovery.” The low income people whom MassHealth is supposed to serve may thus be unable to leave the one thing they might have — their family home — to their children.

Oct 22 08:16

"IT COULD OPEN A PANDORA'S BOX": ITALY'S 2 RICHEST REGIONS ARE VOTING IN HISTORIC AUTONOMY REFERENDUMS

Voters in Italy's two wealthiest northern regions of Lombardy and Veneto are voting on Sunday in referendums for greater autonomy from Rome, in which a positive outcome could fan regional tensions in Europe at a time when neighboring Spain is cracking down to prevent Catalonia from breaking away.

Lombardy, which includes Milan, and Veneto, which houses the tourist powerhouse Venice, are home to around a quarter of Italy's population and account for 30% of Italy's economy, the Eurozone's third largest. Unlike Catalonia, the consultative votes are only the beginning of a process which could over time lead to powers being devolved from Rome. Also unlike Catalonia, which held an independence referendum on Oct. 1 despite it being ruled unconstitutional, the Italian referendums are within the law. Like Catalonia, however, Lombardy and Veneto complain they pay far more in taxes than they receive.

Webmaster's Commentary: 

I have a sense that the referendum will be overwhelmingly positive, and be a step toward more autonomy from Rome.

Oct 22 08:16

Trump’s Fed Chair Problem (How Do We Awaken Dorothy From Her Monetary Oz?)

Yellen would be closer to dovish Evans while Taylor would be closer to Rubebusch.

President Trump has a problem. And it is who to select as The Federal Reserve Chair by November 3rd. Of course, he can always keep mega-dove Janet Yellen. Or he choose someone new like National Economic Council Director Gary Cohn, Fed Board Governor Jerome Powell, former Fed Governor Kevin Warsh or Stanford University economist John Taylor.

Oct 21 12:39

Could Fed STOP a Market PANIC?

Oct 21 09:41

EU anti-trust investigators raid BMW headquarters in Munich

EU anti-trust regulators have raided the offices of automaker BMW in Munich, the company said, in a fresh blow to the German car industry already hit by the Dieselgate scandal.

The European Commission, which refused to confirm the company targeted, said it "can confirm that as of October 16, 2017 its officials carried out an unannounced inspection at the premises of a car manufacturer in Germany."

The inspection was related to "concerns that several German car manufacturers may have violated EU antitrust rules that prohibit cartels and restrictive business practices," a statement said.

The commission added that Daimler was cooperating with the commission and could accordingly offer the firm leniency in the case.

"The inspection is linked to complaints against five auto companies that were reported in the media last July," BMW said in a statement that confirmed the raids.

Oct 21 09:38

US May Employ ‘Unconventional’ Tools to Stave Off Recession

The Federal Reserve Chair said that the probability that short-term interest rates may need to be reduced to their effective lower bound is high.

Oct 21 09:09

Why Are Restaurants' Profit Margins So Low?

Oct 21 09:01

AAPL Not Confirming Market’s Higher Highs

Oct 21 08:26

China to ‘Compel’ Saudi Arabia to Trade Oil in Yuan – Ending Petrodollar as World Reserve Currency

The jig is up for the NWO gang that murdered JFK back in 1963 and has run America into the ground ever since.Their day is ending!

This week, a leading economist predicted a major paradigm shift, as Carl Weinberg, chief economist and managing director at High Frequency Economics told CNBC that China will “compel” Saudi Arabia to abandon the petrodollar, and instead, begin trading oil in yuan—a move he says is likely to precipitate the rest of the oil market following suit and abandoning the U.S. dollar as the global reserve currency.

Weinberg noted that China is poised to clearly dominate the global landscape in terms of oil demand since surpassing the U.S. as the “biggest oil importer on the planet,” adding that Saudi Arabia will “pay attention to this because even as much as one or two years from now, Chinese demand will dwarf U.S. demand.”

Oct 20 13:30

Neocon Nikki Haley’s Anti-Iran Rage: Prelude to War?

Neocon Nikki Haley is Trump’s leading administration antagonist, notably on North Korea and Iran. Her hostile early September address on the Islamic Republic before the hawkish American Enterprise Institute preceded Trump’s decertification of the JCPOA nuclear deal – an international treaty the president defied by his action.

Haley’s address was a deplorable litany of beginning-to-end Big Lies. On Wednesday during a Security Council open debate on the Middle East, she was at it again.

Her remarks included a long laundry list of long ago discredited canards.

Washington, Israel, and its sinister AIPAC lobby resent Iranian sovereign independence, its military strength solely for defense – an obstacle to Israeli regional dominance, along with America’s presence.

Were Haley’s hostile Wednesday remarks prelude for initiating diabolical Trump administration plans ahead, including naked aggression against the country – nuclear deal decertification a starter for what’s to come?

Webmaster's Commentary: 

I am sure that Haley's strongest qualifications for the job as Bimbobassador to the UN, was her unswavering, slavish affection for Israel, allowing her to believe that this country can do no wrong, and an absolute, nearly pathological inability to look at facts, and make intelligent conclusions from a review of the facts.

A thinking Ambassador to the UN would be loathe to be condemn both North Korea and Iran for trying to defend their countries, and would be condemning Israel's flagrant collective punishment of the Palestinians; unfortunately, that is not what we have in Ambassador Haley, and the world may suffer terribly from this.

Oct 20 13:12

3 Things The IRS Doesn’t Want You To Know

The Internal Revenue Service’s (IRS) website at https://www.irs.gov has a staggering 118,000 pages. And you’d think with that much information available for public consumption, keeping things hidden would be a virtual impossibility. After all, we’re talking about the IRS here, not the CIA (note: you did not read that…or this).

Oct 20 11:33

Catalonia crisis: Spain moves to suspend autonomy

Spain is to start suspending Catalonia's autonomy from Saturday, as the region's leader threatens to declare independence.
The government said ministers would meet to activate Article 155 of the constitution, allowing it to take over running of the region.
Catalonia's leader said the region's parliament would vote on independence if Spain continued "repression".

A referendum outlawed by Spain was held earlier this month.
Of the 43% who voted, 90% were in favour of independence.
Some fear the latest moves could spark further unrest after mass demonstrations before and since the ballot on 1 October.

Spain's supreme court declared the vote illegal and said it violated the constitution, which describes the country as indivisible.
Article 155 of the constitution, which cemented democratic rule three years after the death of dictator General Francisco Franco in 1975, allows Madrid to impose direct rule in a crisis but it has never been invoked

Webmaster's Commentary: 

Prime Minister Rajoy seems hell-bent on creating a 2nd civil war in Spain; one has to wonder if NATO troops will be sent to Calalonia as "peace keepers.", under these conditions.

The other thing Prime Minister Rajoy seems to utterly ignore are the optics of such a move.

Spain is a signatory to the UN Charter, and in the UN Charter is enshrined the right to peaceful self-determination. Rajoy needs to remember this, in crushing the Catalonian movement.

And if Prime Minister Rajoy is determined to suppress the heretofore peaceful Catalonian independence movement, does that not compel Spain to do a "Sprexit" from the UN on this issue?!?

Think it through, Prime Minister, think it through!!

Oct 20 11:29

6 YEARS AGO TODAY, THE US HELPED MURDER GADDAFI TO STOP THE CREATION OF GOLD-BACKED CURRENCY

Six years ago today, the West took it upon itself to use NATO to overthrow Libyan leader Muammar al-Gaddafi — not for any humanitarian threat to civilians as had been repeatedly claimed — but because his planned roll-out of a new currency to be used across Africa posed a palpable existential threat to central banks at the heart of the Western financial and political system.

Long theorized to be the actual vehicle for Gaddafi’s downfall, the gold dinar-based, pan-African currency motive came to light in nascent 2016 in one of more than 3,000 of Hillary Clinton’s emails released by the State Department — conveniently timed with the New Year’s holiday to abate outrage or repercussions.

Webmaster's Commentary: 

"We Came, We Saw, He Died!!" Thus cackled Clinton upon hearing of Ghadaffi's execution.

And we can see just how stabizing THAT was for Lybia, now factionalized in a bloody civil war, which is tearing the country apart, 6 years on.

Oct 20 10:27

Peter Schiff Warns Of "Calm Before The Storm"

Oct 20 09:58

Millions Of Americans Are Still Sharing Apartments And You're Worried About A Bubble?

Though the number of apartments under construction has reached a cyclical high, fears of an approaching bubble may be premature.

Those wary of the impact on fundamentals of 480,000 units under construction this year can be assuaged by the fact that apartment demand in the U.S. is still exorbitant
***
The trend of shared housing indicates how burdened renters are.>>>

Oct 20 09:50

There's now a clear reason why September's jobs report was terrible

strong>>State-level data on employment in September shows that Florida's jobs market suffered the most from recent hurricanes.
>The jobs report last month showed that net nonfarm payrolls were negative for the first time in seven years.
>The October jobs report may also be weak, as hiring may not have gained enough momentum by last week, when the monthly survey was conducted.

Oct 20 09:48

HARTFORD COULD DEFAULT ON ITS DEBT AS SOON AS NEXT MONTH, MOODY'S SAYS

Moody’s latest warning about Hartford Connecticut is its most dire yet.

In a report issued Thursday, the ratings agency’s analysts said Hartford, Connecticut’s once-proud capital city, could default on its debt as soon as next month, forcing the capital of the country’s wealthiest state (on a per capita basis) into bankruptcy.

If the city doesn’t change course (and given its shrinking tax base and the departure last year of Aetna, a major insurance company that was founded in Hartford and had located its headquarters in the city for more than 150 years, reforms appear unlikely), receive a state bailout or strike some kind of deal with its creditors, Moody’s says lenders can expect it to run up annual deficits in excess of $60 million through the next 20 years.

Webmaster's Commentary: 

Hartford may well represent the first wave of an economic "domino effect" for cities, and states, across this country, where the financial stewardship has been reckless and unbalanced to the degree where they may well find themselves in default, and very soon.

Oct 20 09:44

31 Hanford workers test positive for radioactive contamination

Thirty-one Hanford nuclear reservation workers inhaled very small amounts of radioactive material after a take-cover order for a contamination spread June 8.

An alarm sounded that morning at the Plutonium Finishing Plant when airborne radioactive contamination was detected as open-air demolition using heavy equipment was being done. Work was underway at the most contaminated part of the plant.

Initially, workers were not believed to be at risk because no contamination was found on the skin or protective clothing of workers, but employees were offered testing for internal contamination as a precaution.

But concerns increased when some of the initial tests showed contamination. Then Washington Department of Health air sampling results came back in August showing radioactive plutonium and americium particles in very low levels at the Rattlesnake security barricade three miles from the plant.

Webmaster's Commentary: 

It appears to me that Washngton's nuclear industry is not at all taking care of the people who work for it, or have been doing it in a very haphazard, cavalier kind of way, pushing back on costs by not giving them the basic protection to prevent exposure, plus protection for the people who live around the areas where such plants exist.

Cancers and other diseases this exposure may generate later in life for these people indicates that they have a very solid class action lawsuit against the State for allowing this exposure in the first place.

Oct 20 08:28

Misco UK plunges into administration – around 300 jobs lost at Northamptonshire-based firm

AROUND 300 jobs have been lost at the UK arm of computer reseller Misco after the operation plunged into administration.

Oct 20 08:27

REVEALED: The EU's £450TRILLION derivative market

THE European Union (EU) has more than £450TRILLION of exposure to derivatives - the investments that underpinned the financial crisis, it has been revealed.

The scale of the derivatives market has been laid bare for the first time in en effort to avoid a devastating repeat of the 2009 market crash by the Paris-based European Securities and Markets Authority (ESMA).

Oct 20 07:52

Bank Run Imminent: Catalan Separatists Urge Supporters To Pull Cash From ATMs On Friday Morning

As tensions escalate in Spain, Catalan Separatists are potentially about to do some real damage and hit Madrid where it really hurts.

In a tweeted message to their 270,000 followers, Assemblea Nacional urged supporters to pull cash from CaixaBank and Banco Sabadell branches between 8 am and 9am Friday to protest at their decision to shift their legal domiciles out of the region...

Oct 20 07:52

Fear of Heights – Vertical Markets

Oct 20 07:35

ScotiaMocatta Put For Sale After Multibillion Money-Laundering Scandal

The world's oldest gold trader is for sale after a massive money laundering scandal may have terminally crippled one of the most iconic names in the business.

Canada’s Bank of Nova Scotia is exploring options for its gold business ScotiaMocatta, the Financial Times reported, which include a possible sale of Canada's most popular precious metals trader. Scotiabank made a decision to sell ScotiaMocatta following a massive money laundering scandal centered on a U.S. refinery that involved smuggled gold from South America. The ScotiaMocatta business, a mainstay in PM trading, is one of London’s main gold trading banks and is being sold by JPMorgan.

Oct 20 06:55

Countries Bringing Their Gold Back Home

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA