ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 09 11:23

Weekend Reading: Fall Back

Sep 09 10:36

Stocks Cycle Downward Right On Schedule

Sep 09 09:25

India Dumping US Treasuries

India is following in the footsteps of most other BRICS countries to decrease its share in the U-S sovereign debt. It is instead boosting its bullion reserves. The Reserve Bank of India purchased 8-point-46 metric tons of the precious metal in the last fiscal year which ended in March.

Sep 09 08:29

‘Win-win situation’ for gold is forming

Sep 09 07:54

DJIA/Gold Ratio

Sep 09 07:26

Amazon Is Worth More Than 21 Retailers Combined

Sep 09 07:20

Greek PM Tsipras prepares to promise economic relief after years of bailout austerity – report

Prime Minister Alexis Tsipras is expected to announce on Saturday some economic relief for Greeks. The country emerged from its third international bailout last month after eight years of strict supervision by its eurozone partners and the International Monetary Fund.

Sep 09 06:10

Flashback: The ferocity and failure of America’s sanctions apparatus

At the beginning of World War I, Britain set up a blockade designed, according to one of its architects, Winston Churchill, to "starve the whole population of Germany - men, women and children, old and young, wounded and sound - into submission." ... Not until five months after the armistice did the Allies allow Germany to import food - not out of concern for the ongoing death and suffering, but out of fear that desperate Germans would follow the Russians into Bolshevism. By the time it was lifted, the peacetime blockade had killed about a quarter of a million people, including many children who either starved or died from diseases associated with malnutrition.

Sep 08 23:39

The Pension Crisis Is Bigger Than the World’s 20 Largest Economies

If your retirement plans consist entirely of that pension you’ve been promised, it’s time to start looking elsewhere.

Sep 08 14:52

Top of the greatest bubble of ALL TIME

Sep 08 13:57

Trump considers using military to build the wall

President Donald J. Trump is considering using the Army Corps of Engineers to build the border wall between Mexico and the U.S. if Congress fails to act.

The president told the Daily Mail while en route to Fargo Friday that there are ‘two options.’

Sep 08 10:18

IRAQ CLOSES ITS BIGGEST PORT DUE TO PROTESTS

The Iraqi authorities kept the country’s main port closed on Friday due to demonstrations calling for the improvement of basic infrastructure in the city, news agencies have reported. The main gates of Umm Qasr port remained closed all day on Thursday and Friday, said Anadolu, which pointed out that re-opening the port is subject to improved security conditions.

Umm Qasr is 60 km south of Basra. It is the main port for Iraqi imports of grain, vegetable oil and sugar shipments that feed the country. Iraq is more or less dependent on imported food.

Basra has been witnessing widespread protests since 9 July. They escalated this week after the death of 11 protesters, according to the High Commission for Human Rights, an organisation affiliated to the Iraqi parliament.

Iraqis have been protesting against corruption and the dilapidation of basic infrastructure due to which they suffer from serious water contamination and severe electricity shortages.

Webmaster's Commentary: 

"But Iraq has been doing BRILLIANTLY since the US invasion/occupation!!!" - official White House Souse.

Sep 08 10:18

Chaos Erupts At Tesla: Stock Crashes, Bonds Implode After Heads Of Accounting, HR Quit

Just hours after Elon Musk appeared on a comedy podcast, where he smoked pot, demonstrated his flamethrower and mused philosophically, Tesla's chief accounting officer unexpectedly gave notice he’s resigning just one month into the job, citing the level of scrutiny on the electric-car maker.

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations," Dave Morton, former CFO for hard-drive maker Seagate Technology said in a Tesla regulatory filing.

Sep 08 09:45

Jeff Bezos makes over $11,000,000 an hour, lowest paid Amazon worker gets $12

Simple calculations show that Bezos, who made $67 billion in 250 days of the current year, earns $268,000,000 per day, or a whopping $11,166,666 per hour. The number is nearly a million times higher than the average Amazon warehouse worker's pay of just $15 for an hour, according to the Glassdoor.com, a website for anonymous reviews of companies and their management by employees and former employees.

Sep 08 09:20

Pan-European tax fraud web leads to New Jersey and Dubai

White-collar criminals aren’t usually so blatant about their intentions. But after tracking a trail of tax fraud that flowed from Denmark to Germany, the UK, Canada, Luxembourg and Malaysia, Danish investigators stumbled on a corporation in Delaware whose name all-but confessed to the crime: Raubritter LLC. Or, in German, Robber Baron. A robber baron with limited liability who is suspected of stealing €9.3 million from the Scandinavian country.

On paper, Raubritter is a pension fund, but in reality it may just be a shell company created to launder cash stolen from European taxpayers – one of 23 allegedly fake pension funds set up by Adam LaRosa. Mr. LaRosa and his partners used the companies to dupe Denmark out of a total €1.7 billion — and Belgium €500 million — by requesting tax refunds on fictional investments.

Sep 07 16:15

RICHARD SACKLER, MEMBER OF FAMILY BEHIND OXYCONTIN, WAS GRANTED PATENT FOR ADDICTION TREATMENT

A member of the family that owns Purdue Pharma — which is being sued by more than 1,000 jurisdictions for its alleged role in seeding the opioid crisis with its pain medication OxyContin — has been awarded a patent for a treatment for opioid use disorder.

Sep 07 15:16

Humans Never Had A 100% Energy Transition

Sep 07 13:04

Turkey Will Secure Its Energy Supply, No Matter The Cost

Economic problems resulting from US sanctions and the decline in the value of the Turkish lira will increase the already record high trade deficit, currently half of which is related to energy imports. In 2017 it amounted to 77 billion USD, more than twice the amount of 2016. Erdo?an is determined to create a politically dominant state. To this end he needs to ensure energy independence, which can be done through the occupation of the oil fields in Kirkuk, and the acquisition of the gas fields of Cyprus.

The increase in oil prices will affect the trade deficit even more, while 75% of its value will be energy imports. The average annual barrel price in 2017 was 54 USD, and this year the average cost is about 70 USD, and the price will continue to rise. All of this is a drag on Turkish economy. To counteract the negative balance sheet, Recep Erdo?an will take more determined steps to ensure energy independence. This, however, will lead to turmoil in the region.

Sep 07 12:45

Construction spending, Trade

Sep 07 12:39

Russia’s Huge Natural Gas Pipeline To China Nearly Complete

Gazprom’s Power of Siberia natural gas pipeline from Russia to China is 93 percent complete, the Russian gas giant said in an update on its major projects.

A total of 2,010 kilometers (1,249 miles) of pipes are laid for the Power of Siberia gas pipeline between Yakutia and the Russian-Chinese border, or on 93 percent of the route’s length, Gazprom said in a statement.

The natural gas pipeline is expected to start sending gas to China at the end of 2019 and its completion is among Gazprom’s top priorities.

The two-string submerged crossing of the Power of Siberia pipeline under the Amur River is 78 percent complete, and the Atamanskaya compressor station adjacent to the border is also under construction, the Russian company says.

Gazprom has a 30-year contract with CNPC for the supply of an annual 1.3 trillion cu ft of natural gas via the infrastructure.

Sep 07 12:32

The Gaza Strip: Funding for Emergency Fuel Needed Immediately to Avoid Catastrophic Breakdown in Essential Services

This week, final stocks of emergency fuel will be delivered to critical facilities in the Gaza Strip, through the United Nations-Assisted Emergency Fuel Program. The Humanitarian Coordinator, Jamie McGoldrick, has written to the donor community requesting immediate support for the program, which provides life-saving emergency fuel to operate standby emergency power generators at critical health centers, and water and sanitation facilities in the Gaza Strip. Funds donated thus far in 2018 have been depleted.

Life-saving services in Gaza currently depend on the UN’s delivery of emergency fuel, due to an energy crisis that leaves the two million Palestinian residents of Gaza, over half of whom are children, with only 4-5 hours of electricity from the grid per day. Based on the current electricity deficit in Gaza, a minimum of $4.5 million is required to sustain these essential services until the end of the year.

Webmaster's Commentary: 

Israel's "Final Solution" to the "Palestinian Problem" is very multi-faceted; the chance of injury and death due to a lack of electricity at medical centers is precisely one of them.

President Trump has just handed more death sentences to the Gazans, courtesy of his withdrawal of US funds.

Sep 07 12:23

Senator Rubio’s “Taiwan Allies International Protection and Enhancement Initiative”: How Scared is the U.S. of China’s “Belt and Road”?

“Deep States” Join The Silk Road

Taiwan, and by extension the US, was recently dealt a string of defeats after El Salvador became the third country this year to switch its recognition from Taipei to Beijing as the legitimate government of China, which Washington believes was encouraged by the People’s Republic promising it and the other “defectors” generous economic aid and the opportunity to participate in its One Belt One Road (OBOR) global vision of New Silk Road connectivity. That explanation only scratches the surface of the story, however, because the deeper significance in these developments is that China didn’t just “bribe” the leaders of each of those countries like it may have done in the past when similar instances occurred, but actually managed to convince their permanent military, intelligence, and diplomatic bureaucracies (“deep states”) of the wisdom of joining forces to revolutionize the world order through OBOR’s paradigm-changing potential.

Webmaster's Commentary: 

In the words of my late Grandmother, "The horse is already out of the barn" on the issue of China's One Belt, One Road; this is way too little and way too late, and appears to be one of the last, desperate death throws of an empire in massive decline.

Sep 07 11:39

The Fed’s QE Unwind Hits $250 Billion

Sep 07 11:17

Obama Complains About Trump Taking Credit for Strong Economy

Former President Barack Obama bashed President Trump for taking credit for the strong American economy during a politically charged speech at the University of Illinois on Friday.

“By the time I left office, household income was near its all-time high, and the uninsured rate had hit an all-time low, and wages were rising, and poverty rates were falling. I mention all this just so when you hear how great the economy is doing right now, let’s just remember when this recovery started,” Obama said to applause from the audience.

Webmaster's Commentary: 

Okay, so they both tell the same lies.

Sep 07 11:11

Russia Warns US That Syria Offensives Are Planned Near US Positions. US 'postured to respond' militarily to any 'challenge'

While most of the Syrian War is centered at this point around the Idlib Province, the last major rebel bastion, there is also interest in mopping up some of the smaller rebel positions along the Jordan border, especially where ISIS and al-Qaeda are concerned.

This is a raising a dangerous risk of a confrontation between the US and Russia, because Russia and Syria are very keen to chase some of the Islamists off the border in the near future, and Russia has informed them some of these Islamists are relatively close to US military positions in the area.

The US has long been fine with Islamists on the Jordan border, and is warning Russia against taking any action against them, saying the US would view it as a “challenge” and that they would not hesitate to respond militarily if there is any move into the area.

Webmaster's Commentary: 

I would love to see both some sanity and some clarity in the US government's position on Syria; unfortunately, what I see unfolding here, is the prelude to an all-out war between Russia, Syria, and Iranians in Syria against the US, and potentially inviting the curse of another world war.

Just because something would be the most pig-headedly, ham-fistedly stupid thing for the US Government to do, is absolutely and utterly no guarantee that it will not do it.

Sep 07 11:03

Mapping Firefighters Salaries in Every State

Sep 07 10:07

Cryptocurrency Scam?

Sep 07 09:26

India getting rid of US Treasury securities and buying gold

The world's second biggest gold consumer continues to replenish its bullion reserves, a Reserve Bank of India (RBI) report shows. At the same time, New Delhi is slowly but surely reducing its share of US debt bonds.

The annual report from the Indian financial regulator reveals that the country followed other BRICS partners in adding physical gold to its foreign exchange reserves. The RBI reportedly bought 8.46 metric tons of gold during the last fiscal year ending in March.

Sep 07 09:07

Wells Tumbles As DOJ Launches New Probe After Review Found Widespread "Document Altering"

Another day, another scandal involving Warren Buffett's favorite bank.

According to the WSJ, the DOJ is now probing whether employees committed fraud in Wells Fargo’s wholesale banking unit as a after revelations that employees improperly altered customer information. This follows a prior WSJ report that some employees in the unit added information on customer documents, such as Social Security numbers and dates of birth, without their consent.

Sep 07 08:53

10 YEARS LATER – NO LESSONS LEARNED

Sep 07 08:37

Donald Trump confirms Star story on his secret bombshell remarks about Canada

Trump’s words caused a U.S. media firestorm. By the end of the day, Trump had confirmed the accuracy of the Star’s report, said he was fine with the leak because now Canada knows his true feelings and also complained at length that the leak was a breach of his trust.

Canada and the U.S. were not able to reach a deal by Trump’s informal deadline of Friday. The talks were scheduled to resume on Wednesday.

Trump made his controversial statements in an Oval Office interview with Bloomberg News on Thursday. He said, “off the record,” that he is not making any compromises at all with Canada — and that he could not say this publicly because “it’s going to be so insulting they’re not going to be able to make a deal.”

Sep 07 08:23

Africa jumps aboard China's express train

The seventh China-Africa summit was a diplomatic success for China. African countries can expect more cash injections.

Sep 07 08:12

Norwegian Armed Forces Warn of Collateral Damage During Major NATO Drill

During previous exercises of comparable size, Norwegian farmers sustained damage from NATO tanks that amounted to the tens of thousands of kronor.

The Norwegian Armed Forces have warned of collateral damage during the upcoming NATO drill Trident Juncture, one of the largest in the country's history, national broadcaster NRK reported. Everything from livestock to vehicles may be affected.

According to the military newspaper Forsvarets forum, damage is expected in the following areas: croplands, forests, roads, power and telecom installations, cars and pets (including chickens dying from high vibrations or larger animals becoming overly stressed by noise from the drills).

Hedmark farmer Erling Aas-Eng is also fearful that the damage may be extensive.

Sep 07 08:03

World’s top 5 ‘most evil’ corporations

Most companies become successful thanks to their stellar reputations. But not always. RT Business scraped the bottom of the barrel to find the most hated companies trending on the internet.

Sep 07 08:01

Trump: Japan Relations May Sour 'When I Tell Them How Much They Have to Pay'

Trump shared his views on international trade, eyeing Japan in particular, saying that Washington's "strong" relationship with Tokyo might "end," local media reported.

Wall Street Journal columnist and editor James Freeman said he had spoken to Trump earlier on Thursday, saying that the President “sounded very stable but unfortunately also still very focused on eliminating trade deficits with America’s trading partners.”

Freemen said that Trump called him shortly after an editor appeared on the Fox News channel, admiring Trump’s actions for US economy. Trump said that their relations with Japan are "strong" however, "that will end as soon as I tell them how much they have to pay."

Sep 07 08:00

Beijing Confirms Xi Jinping to Take Part in Work of EEF-2018 in Vladivostok

Chinese President Xi Jinping will attend the Eastern Economic Forum (EEF) in Vladivostok on September 11-12, Foreign Ministry spokesman Lu Kang said on Friday.

"At the invitation of Russian President Vladimir Putin, President Xi Jinping will attend the Fourth Eastern Economic Forum on September 11-12," Lu Kang said, as quoted by the Xinhua news agency.

Sep 07 06:57

America’s Finances Seem Fishy

Sep 07 06:57

THE NEXT CRISIS IS STUDENT LOANS

Sep 07 06:52

China-Double Topping At 2007 highs?

Sep 07 06:05

Truthstream Media: The Real Wealth Gap

Sep 07 00:24

The 11th Hour: 8 Examples Of Mainstream Media Sources Warning Us Of Imminent Economic Disaster

For years, the mainstream media told us that things would get better, and in a lot of ways we did see some improvement. But now the tone of the mainstream media has become quite ominous, and that is definitely not a positive sign. The following are 8 examples of mainstream media sources warning us of imminent economic disaster…

Sep 07 00:01

When The US’s Stock Market Bubble Bursts, Inevitable Disaster Will Follow

Complete and utter disaster will be inevitable and unavoidable when the United States’ stock market bubble bursts. Unfortunately, too many think the high stock market is evidence of a stable economy, but it’s actually an artificial bubble that will end in a disastrous crisis.

Sep 06 12:57

CalPERS disaster shapes bill sent to Gov. Jerry Brown

Gov. Jerry Brown is considering a bill shaped by the worst example of a California public agency defaulting on the pension promises it made to its employees and allowing CalPERS to slash the incomes of its retirees.

The bill by Assemblyman Freddie Rodriguez, D-Pomona, would forbid local government agencies from dissolving so-called joint powers authorities unless the agencies commit to funding their pension obligations.

It’s intended to prevent a recurrence of a 2017 insolvency that left nearly 200 former employees of the East San Gabriel Valley Human Services Consortium, a job-training training organization, with reduced retirement incomes.

Sep 06 11:31

Trump Says Nike ‘Is Getting Killed’ With Kaepernick Partnership

President Trump weighed in on the controversy today on Twitter. “Just like the NFL, whose ratings have gone WAY DOWN, Nike is getting absolutely killed with anger and boycotts. I wonder if they had any idea that it would be this way? As far as the NFL is concerned, I just find it hard to watch, and always will, until they stand for the FLAG!”

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