ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 29 07:22

7 out of 10 Americans agree that economy is rigged against them

A new Marketplace-Edison Research poll published Tuesday found that a full 71 percent of respondents agree that the economy is rigged, affirming the popular rhetoric of the current presidential campaign season.

Jun 29 07:20

Now Juncker to force all remaining EU countries to adopt the euro after Brexit paves way for single monetary union 

The eight EU members who do not currently use the euro may be forced to adopt it in a bid to speed up monetary union in the wake of Brexit.

The Daily Express reports that Denmark, Sweden, Bulgaria, Croatia, Czech Republic, Hungary, Poland and Romania will be given an ultimatum by the President of the European Commission, Jean-Claude Juncker .

The German newspaper Frankfurter Allgemeine Zeitung claimed there were plans afoot to accelerate the 'completion' of the monetary union.
Brexit campaigners claim the plans show that the Leave vote in last week's referendum proved a 'great escape' for Britain.

Earlier this week Czech foreign minister Lubomir Zaoralek said the EU’s chief bureaucrat was a ‘negative symbol’ of the kind of federalism British voters rejected in the referendum and called for him to resign in the wake of Brexit.
But Juncker is resisting pressure to go and is instead planning to speed up European integration.

Webmaster's Commentary: 

I seriously doubt that Juncker is going to be able to hold this together, in light of the fact that a number of other European countries are looking for their own moment to exit the EU.

Jun 29 07:11

Nigel Farage: 'Rubbish' to blame Brexit for stock losses

Jun 29 07:11

Angela Merkel threatens UK need to accept freedom of movement to access single market

ANGELA Merkel has threatened the UK that it needs to accept freedom of movement for EU citizens if it wants access to the single market following a Brexit.

Webmaster's Commentary: 

I smell panic in the wind!

Jun 29 07:08

MEXICAN RESISTANCE TO NEOLIBERAL SOCIAL CUTS

Eight people were killed in Nochixtlán, a town near Oaxaca City in Mexico, after turning out to support a blockade by teachers protesting neoliberal cuts to education and other social programs, reported independent journalist Andalusia Knoll Soloff from the scene of the clashes with police.
“The residents came out when they heard about the repression on Sunday [June 19],” Soloff told me over a noisy phone line. “They had come out to support the teachers, and many, mostly young men, came out to help the people who were injured. One family had a 19-year-old son who went in the ambulance to help the wounded and when they arrived at the blockade, he was killed by the police.”

Webmaster's Commentary: 

This is the level, and kind, of serfdom and poverty, into which the globalists in this country want to shove you and your kids.

In the most peaceful and lawful ways possible, this must be contested in this country.

You, and your children, have better things to do than become cannon fodder for the US government's continuance of wars with which to expropriate resources to which it, and the corporations which fund them, have absolutely no moral right.

Jun 29 07:03

CFR Member Calls on Elites to “Rise Up Against Ignorant Masses”

In a column for Foreign Policy Magazine, Council on Foreign Relations member James Traub argues that the elite need to “rise up” against the “mindlessly angry” ignorant masses in order to prevent globalization from being derailed by the populist revolt that led to Brexit and the rise of Donald Trump.

Webmaster's Commentary: 

"Ignorant masses." Sounds a lot like "The Great Unwashed", "Hoi polloi", "the plebeians", "the rabble", "the dregs of society", "riffraff", or any of the derogatory terms used to denigrate those who lie, cheat, and steal their way to wealth and power, and seek to justify their ascendancy with an illusion of superiority.

Jun 29 05:05

Soros Bets $110m Shorting Germany's Biggest Bank

George Soros is looking to take down Germany's biggest bank...

BILLIONAIRE investor George Soros took out a staggering €100MILLION bet that a major German bank would collapse after Britain decisions to cut ties with the crumbling EU.

The man who "broke the Bank of England" took a short position of 0.51 per cent in Deutsche Bank shares on Friday - the day after the people of Britain backed Brexit.

Jun 28 18:37

Sovereign Debt – What Could Go Wrong?

Jun 28 16:32

Brexit BOOST: Leaving European Union to result in SURGE of tourism to Britain

The pound's value has significantly weakened since the Brexit vote, which has prompted a flurry of interest for UK holidays from overseas travellers, according to agents.

US and Chinese travel sites have reported a surge in queries, as travellers hunt for cheaper breaks.

Jun 28 16:18

Italy's financial crisis could DESTROY the Euro as nation tipped to be next domino to fall

The country is facing a series of economic and political crises which could see it crash out of the eurozone just months after Britain rocked Brussels by backing Brexit.

Following the historic vote on Thursday, Italy’s top stock market saw its biggest ever one-day fall of 12 per cent, as traders rushed to dump financial stocks.

The carnage continued this week with shares in the nation's two biggest banks, UniCredit and Intesa Sanpaolo, falling by eight and more than 10 per cent respectively.

Investors are worried Italian banks could go under, thanks to billions of pounds worth of bad loans on their books.

They are estimated to have around £270billion of loans that could default and spark a financial crisis in Italy. Experts believe it could rip apart the eurozone.

Jun 28 16:12

Eurozone rocked by Brexit: Now George Soros bets €100m on German bank collapse

BILLIONAIRE investor George Soros took out a staggering €100MILLION bet that a major German bank would collapse after Britain decisions to cut ties with the crumbling EU.

The man who "broke the Bank of England" took a short position of 0.51 per cent in Deutsche Bank shares on Friday - the day after the people of Britain backed Brexit.

In growing signs that desperate Angela Merkel's economy is struggling in the wake of the nation's decision to leave the EU - Soros Fund Management said its short position was now 0.46 per cent - suggesting it had begun to take profits from the trade.

Since the momentous decision, shares at Deutsche have dramatically slumped.

Jun 28 15:57

Europe’s Bull Market Hanging In The Balance

Jun 28 15:52

How Russia, China are Creating Unified Eurasian Trade Space

Russia is pushing ahead with its project of a "more extensive Eurasian partnership" involving the Eurasian Economic Union, Moscow's CIS partners as well as China, India, Pakistan and Iran; meanwhile, Beijing and Moscow continue to build a Eurasian economic corridor that will stretch from Shanghai to Berlin.

Jun 28 15:49

Flint Water Criminal Investigation Costs Triple — And May Hit $5 Million

Mchigan Attorney General Bill Schuette’s wide-ranging probe into the Flint water crisis could cost as much as $4.9 million, more than triple the amount allocated by the state in a contract in March, according to a posting on the state Administrative Board website.

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Jun 28 14:52

UK Finance Minister: We Must Cut Spending & Raise Taxes

“It’s very clear that the country is going to be poorer as a result of what’s happening to the economy,” Chancellor George Osborne told BBC Radio Tuesday.

Ensuring the UK’s fiscal stability is crucial in the wake of the referendum decision to leave the EU, said Osborne, adding that post-Brexit measures would “absolutely” include cuts in public spending and tax hikes.

Jun 28 14:38

Now Juncker to force all remaining EU countries to adopt the euro after Brexit paves way for single monetary union 

The eight EU members who do not currently use the euro may be forced to adopt it in a bid to speed up monetary union in the wake of Brexit.

The Daily Express reports that Denmark, Sweden, Bulgaria, Croatia, Czech Republic, Hungary, Poland and Romania will be given an ultimatum by the President of the European Commission, Jean-Claude Juncker .

The German newspaper Frankfurter Allgemeine Zeitung claimed there were plans afoot to accelerate the 'completion' of the monetary union.

Brexit campaigners claim the plans show that the Leave vote in last week's referendum proved a 'great escape' for Britain.

Jun 28 14:25

Share buybacks still are a ticking time bomb

Jun 28 14:04

Top 10% of NZ own 60% of all wealth

Despite what we like to think - wealth is not evenly distributed in New Zealand, in fact it's the worst it's been in over a decade.

Statistics New Zealand's wealth share of individuals shows the top 10 per cent of people have almost 60 per cent of wealth.

The figures are for the year to June 2015.

Labour market and household statistics manager Diane Ramsay said it was the biggest divide between the rich and poor since 2003.

She said it was possibly worse, but when records began in 2001 slightly different questions were asked of slightly different demographics.

What was evident was the inequality of net worth distribution that continued to grow.

Divides across ethnic groups continue; European people have an individual median net worth of $114,000 compared to $33,000 for people of Asian descent, $23,000 for Maori, and $12,000 for Pacific people.

Jun 28 14:04

The Dollar Rebellion

This morning, I happened to overhear something I found to be highly hilarious, to say nothing of guffaw-inducing. Ok, so I’m here in Tucson and I walk all over the place. To date, I have only been approached twice in about a year by panhandlers asking for money. And I see the homeless all the time. Talk to some of them at length. But petition gatherers? I think I’ve been approached by a little over a hundred within the past six months. Feh, it’s like running a gauntlet of government officials at a budget free-for-all of McPork Barrel proportions. And your humble scribe has discovered why that is.

Jun 28 13:45

Donald Trump’s Trade Speech: Clinton ‘Worships Globalism over Americanism’

Now you are speakin my language!

Presumptive Republican nominee Donald Trump spoke in Monessen, Pennsylvania on Tuesday afternoon, differentiating his trade policy of an independent America from presumptive Democratic nominee Hillary Clinton’s record on trade and globalization.
“Our politicians have aggressively pursued a policy of globalization — moving our jobs, our wealth, and our factories to Mexico and overseas,” Trump declared. “Globalization has made the financial elite who donate to politicians very wealthy. But it has left millions of our workers with nothing but poverty and heartache.”

Jun 28 11:44

7 OUT OF 10 AMERICANS AGREE THAT ECONOMY IS RIGGED AGAINST THEM

The latest Marketplace-Edison Research poll shows Americans’ stress over their personal financial situation building even before Brexit. We asked basic questions about, for example, household budgets, family vacations and paying bills. Americans’ responses showed that, in May, our country’s anxiety level climbed to its highest point since the beginning of our poll.

Here are a couple of things Americans told us:

More of them are losing sleep over their financial situation: 32 percent now compared with 28 percent in September 2015.
They are less confident that they could find a new job within six months if they were to lose their current job: 41 percent are very confident about finding a new job now compared with 46 percent in September 2015.
On questions about trade and economic fairness — issues that British voters debated in the U.K. before Brexit — and that are resonating in the U.S. 2016 presidential campaign:

Webmaster's Commentary: 

I am actually surprised that the number is that low, honestly; I would have imagined that the numbers would be higher here.

And about being "afraid" and "embarrassed" by our lack of choices in this presidential election?!? I can fully understand this.

Yes, Trump does manage to behave, many times, like a blunt instrument; but his saving grace to me is his innate intelligence, and the fact that he is capable of sounding out the problems with this economy cleanly and clearly.

I am watching his press conference, where he is stating that we import 800 billion dollars more than we export, and that is definitely a huge economic problem.

He is beholden to no special interests, because of his wealth, and he has tapped into a lot of legitimate anger Americans are feeling about their lot in this country at this point in their lives.

That is something the Democrats are refusing to deal with, and it may well cost them, big-time, in this election.

The middle class in this country is being squeezed into extinction by the continuing offshoring/outsourcing of American jobs to cheaper labor pools, and Americans are hurting because of this.

They are also hurting because of the problems caused by illegal immigration, which is driving down labor costs here at home.

Hillary Clinton is the uber-globalist sociopath who has never, in her professional life, seen a US government-instigated war as something she didn't love, particularly if such a war potentially benefited Israel.

I would definitely be willing to take my chances with a Trump presidency, over a Clinton presidency; this office is not supposed to be a dynasty in this country, but a choice about where We the People want this country to go.
And this presidential election seems to be a choice between smart nationalism, and globalism, which to date, does not seem to have served the American people well at all.

I think that there can be such a thing as smart nationalism when it comes to the US economy, which can engage the world by producing intelligently thought out and competitive products.

Jun 28 11:09

7 OUT OF 10 AMERICANS AGREE THAT ECONOMY IS RIGGED AGAINST THEM

The latest Marketplace-Edison Research poll shows Americans’ stress over their personal financial situation building even before Brexit. We asked basic questions about, for example, household budgets, family vacations and paying bills. Americans’ responses showed that, in May, our country’s anxiety level climbed to its highest point since the beginning of our poll.

Jun 28 10:10

Bravo Brexit!

At long last the tyranny of the global financial elite has been slammed good and hard. You can count on them to attempt another central bank based shock and awe campaign to halt and reverse the current sell-off, but it won’t be credible, sustainable or maybe even possible.

The central bankers and their compatriots at the EU, IMF, White House/Treasury, OECD, G-7 and the rest of the Bubble Finance apparatus have well and truly over-played their hand. They have created a tissue of financial lies; an affront to the very laws of markets, sound money and capitalist prosperity.

After all, what predicate of sober economics could possibly justify $10 trillion of sovereign debt trading at negative yields?

Jun 28 10:05

The Dearth of Ethics and the Death of Lehman Brothers

In an unprecedented move that rocked the financial industry to its core, on Sept. 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection. Not only was it the largest bankruptcy case in United States history, but it also came after repeated assurances from the company’s chief executives that finances were healthy, liquidity levels were high, and leverage was manageable. The implosion of this Wall Street institution shattered consumer confidence during a time of fragility, and in the aftermath of its collapse, a number of questionable decisions came to light. This analysis will proceed in two parts: First, a recap of the series of events leading to Lehman Brothers’ failure, followed by the identification of several dubious choices made by its executive management team and how the consequences led to the bank’s ultimate demise.

Jun 28 09:22

Unravelling The 2016 Global Slavery Index

Over the past three decades a radical, worldwide social and political revolution has been slowly building steam. This revolution rejects the exploitation of human beings for private profit and seeks to eliminate these practices that have built our world and that continue to power global economic growth. The leaders of this revolution, including those involved in the Global Slavery Index, deserve to be applauded for their courage in waging what often feels like an impossible battle. But for everyone working in this field, good intentions are not enough. Dialogue, criticism and constructive debate are also needed to move this revolution forward.

Jun 28 08:56

Death to All Zombies!

When things fall apart in stressed complex systems, they tend to fall apart fast. It’s called phase change. Too many things in 21st-century life have depended on sheer trust that the people-in-charge know what they are doing. That trust has subsisted on the doling out of money-from-nothing: debt, reckless bond issuance. TARP, QEs, bail-outs, bail-ins, Operation Twists, Ponzi schemes… the whole sad-ass armamentarium of banking necromancy. The politicians let it get out of hand. Things that can’t go on don’t, and now they won’t.

Webmaster's Commentary: 

Jun 28 08:40

Soros in huge bet against Deutsche Bank

Bank shares have been hit hard since the UK's Brexit referendum. Two hedge funds homed in on Germany's Deutsche Bank - betting huge sums of money on the large lender's stock price dropping further.

Soros Fund Management, an American firm, and Marshall Wace, a British hedge fund, both took big bets against Deutsche Bank last Friday, the day after the UK's referendum vote on leaving the European Union.

In short sales, investors agree to sell shares they don't own yet, in the belief they will be able to buy them later at a lower price. The difference in price is their profit - or loss, if the bet goes wrong.

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Jun 28 08:29

The First Casualty Of Brexit: Italy Prepares €40 Billion Bank Bailout

Barely has the market had time to digest last week's Brexit vote by the UK, a vote which may never actually be implemented if the "sturm und drang" campaign unleashed by the EU and the ECB on UK capital markets succeeds in changing the mind of enough "Leavers" to the point that the entire referendum is called off and Boris Johnson never triggers the Article 50 clause, and already Europe's most financially troubled nation, Italy, is using Brexit as a pretext to unleash a €40 billion ($44 billion) bailout of its insolvent banks.

Jun 28 08:23

US public education: Bullshit to train stupefied work animals. ‘Economics’ as limited and flawed models while ignoring criminal looting fraud to call debt as ‘money’ and ‘good,’ ignoring game-changing reforms (4 of 12)

*hyperlinks/videos live at source*

I’ve participated with Advanced Placement Macroeconomics teachers on our discussion board available to ~2,000 teachers since 2008. No colleague has ever found any factual errors or omissions in the game-changing facts of monetary and banking reforms; with prima facie benefits of $1,000,000 per US household. Moreover, this topic has real-world success documented by Ben Franklin and endorsed by Thomas Edison (among many of our nation’s brightest minds).

This, of course, opens a new era in economics that in a non-bullshit environment would be excitedly embraced, explored, and introduced into policy consideration for real-world case studies.

Jun 28 08:08

Dow Chemical to cut 2,500 Jobs

Jun 28 08:03

This Chart Is Going The Wrong Way Fast

Jun 28 06:40

Food Monopoly Aimed at Controlling Population Destroys Environment and Poses Serious Threat to Human Health

Yes, food is power, and all around the world we now see how the monopolization of the food supply has created a vast gulf between the "have" and the "have nots." Far from fostering greater food security, we've become more food insecure than ever before.

It's quite simple really. If you have access to clean, nutritious food, you survive and thrive. If you don't, disease and premature death is your lot.

Today, malnutrition is not a problem relegated to developing countries. Never before have affluent nations had so many malnourished yet obese people — a paradox rooted in a poor and toxic diet, churned out by industrial crop growers, concentrated animal feeding operations (CAFOs) and fish farms.

The strategy to control people by controlling the food supply, first through the conversion from many small farms to fewer, gigantic farming operations and associated price fixing schemes, and later through the creation of genetically engineered (GE) seeds, effectively destroyed family farming both in the U.S. and abroad.

Jun 28 05:57

Here's All the Awful Things Wall Street Says Are Going to Happen Because of Brexit

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-A team of Credit Suisse analysts led by Andrew Garthwaite say they are expecting a recession:
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-A team of Goldman Sachs analysts led by Jan Hatzius noted that the damage wouldn’t be confined to U.K. and E.U.:
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-Citi analysts led by Tina Fordham noted that the Brexit vote represented an area of “lasting uncertainty,” since leaving the EU will be a two-year process for the U.K.:
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-Morgan Stanley‘s Chief Cross-Asset Strategist noted that the move will likely result in a hit for the GDP of the global economy, and result in no more rate hikes from the Federal Reserve:
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-Another team of Credit Suisse analysts led by Lori Calvasina also noted other issues for U.S. companies and the stock market, as the value of the pound dips:
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-J.P. Morgan analysts led by Dubravko Lakos-Bujas say Brexit is unlikely to precipitate a global recession as central banks jump in to “provide liquidity and staunch contagion:”
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-The “Leave” vote also has other troubling ramifications, notes Deutsche Bank analysts led by David Bianco. The referendum means that further shocks across the EU could be possible:

(*after The Occupy Movement , we learned that what's good for Wall Street isn't necessarily good for Main Street . It works the same in reverse . What's BAD for Wall Street might not be so bad for Main Street .
I think they've finally started reading your stuff , over on Wall St. , Mike .)

Jun 27 18:51

Victory Is Possible

Few people expected the positive outcome of Brexit referendum. Among other doubters, I expected the UK government will borrow a trick from the Clinton collection, and proclaim the Bremain hath it.

We witnessed so many dirty tricks in the Dem primary this year: the votes were not counted, but the newspapers called Hillary the winner; millions could not vote at all being stricken off the roll; Trump was demonised as a new Hitler; so I thought they will do the same in the UK vote.

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Jun 27 16:46

No more UK CASH COW: Panicking EU to lose 15 per cent of budget funding due to Brexit

It has now been calculated Britain has been putting up 15 per cent of the overall EU budget which is mainly spent on farmers in poorer member states.

EU Regional Policy Commissioner Corina Cretu warned on Monday this gap will have to be plugged over the next four years.

Jun 27 16:44

THE GREAT ESCAPE: EU's plan for ALL members to adopt euro revealed just DAYS after Brexit

PLANS to force remaining EU nations to adopt the single currency and complete a monetary union could be set to cause uproar among member states.

Brexit campaigners said the EU commission's post Brexit actions prove Britain achieved a truly "great escape".

Jean-Claude Juncker is now believed to be set on ensuring each member state only uses the euro after the people of Britain voted in favour of a Brexit on June 23.

The president of the commission also seems set on rushing exit negotiations after claiming they should begin as soon as possible.

But it seems Mr Juncker is also keen to accelerate European intergration by making eight remaining nations use the euro.

Jun 27 16:41

Remain has treated Leave like 'IDIOTS': Mervyn King says Brexit 'does NOT mean job cuts'

FORMER Bank of England governor has said Britain's finance ministry was put in a difficult position after making exaggerated claims about the economic risks of leaving the EU.

Mervyn King blasted the Remain camp claiming that they were guilty of Project Fear and he also accused Remain of treating people considering voting Leave like "idiots".

He said voters had not been impressed by "scaremongering tactics".

He told the BBC: "I think the Treasury is in a difficult position now because it did make very clear forecasts which I think were exaggerated in terms of at least the certainty they led people to believe could be attached to those forecasts, and now I think they're going to have to row back.

Jun 27 16:03

Your Daily ""Market"" Update

Jun 27 15:06

Over $2 Trillion “Wiped Out” After Brexit: Friday Was the Single Day Loss Ever

There were massive losses last Friday before the markets closed, and more than $2 trillion in wealth was wiped out. Hundreds of the world’s richest lost as much as a billion dollars in just a day.

And the worst could be yet to come.

The $2.08 trillion wiped off global equity markets on Friday after Britain voted to leave the European Union was the biggest daily loss ever, trumping the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987, according to Standard & Poor’s Dow Jones Indices.

Read more at SHTF

Jun 27 14:17

Another US Pension Fund Ready To Bust

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Jun 27 11:12

Osborne Trying To Calm UK Amid Labour ‘Coup’

The UK Chancellor of the Exchequer makes an effort to calm the UK following the recent Brexit vote which has thrown the opposition Labour Party into disarray.

George Osborne said Monday that despite the UK’s Thursday vote to leave the European Union (EU), Britain is ready to face the future “from a position of strength.”

Jun 27 11:03

These Three Survey Responses Explain Everything That Is Wrong With The US Economy

There is nothing one can add to these three Dallas Fed Manufacturing Activity respondents, who in just a few brief sentences successfully explain pretty much everything that is wrong with the US economy right now.

Jun 27 11:01

Deutsche Bank: "There's No Escaping The Fact That This Is A Class War"

The shockwaves and consequences around Brexit will resonate for years. It's probably an understatement to say that most in financial markets regret the UK's decision to leave but we should respect the forces that have been pushing us towards what has always been an inevitable political accident sometime soon. I wasn't sure whether the Brexit vote was the one but I was pretty convinced one was coming and this is probably not the last. Spain yesterday started a general election cycle (more below but relatively market friendly) of the largest 5 euro-area economies (Spain, Holland, France, Germany and Italy) over the next 18 months or so, not forgetting the US this November. Throw in the crucial senate reform vote in Italy in October and you've got plenty of opportunity for rebellion against the establishment that haven't managed to produce satisfactory enough growth for the lower paid/lower skilled to offset the forces of globalisation and immigration.

Jun 27 10:58

Obama Bashes Whites At Entrepreneurship Summit

According to Obama only women and minorities aren’t part of the “good old boy” networks – run by white men. He must believe ALL WHITE MEN are openly accepted in all the “good old boys” networks. According to Obama, all white men are granted privileges and given access not because of their work but because of their skin color. Isn’t that racist?

This man is so offensive – and ignorant.

Jun 27 10:57

Ron Paul: The People Will Not Suffer From Brexit, Only the Global Banking Elite Will

George Soros exposed the dependence of the elite on the EU when he took to fearmongering about rampant financial collapse upon Brexit.

“The Brexit crash will make all of you poorer — be warned,” Soros penned in an op-ed for the Guardian on June 20. “My 60 years of experience tells me the pound will plummet, along with your living standards. The only winners will be the speculators […]

“A vote to leave could see the week end with a Black Friday, and serious consequences for ordinary people.”

However, as Ron Paul so aptly pointed out on Friday, the people’s suffering will be minimal. It is the banking elite who are running scared.

Jun 27 08:06

Soros Suffers Major Loss On Long Pound Trade Ahead Of Brexit

It is somewhat ironic that the man who made a $1.5 billion profit on Black Wednesday in 1992 when he bet against the pound sterling ahead of the UK exit from the ERM would be the same one to suffer major losses on the same currency 24 years later.

Jun 27 07:46

When Will Governments Tell The Truth About The World Economy

On June 3rd we had another set of figures which although fake, still shocked the financial world.

Non-farm payroll increased by only 38,000, massively lower than any forecast. But add to that 244,000 fictitious jobs created and 484,000 workers which were forced to go from full time to part time work, then we get to a reduction in full time jobs of 690,000! Also, the workforce has grown by 21 million since 2007 but the actual number of employed has grown by only 5 million and out of those only 2 million are full time workers. And the quality of the jobs is also declining dramatically.

Jun 27 07:31

TTIP ‘doesn’t respect EU interests’: French PM Valls says ‘non’ to transatlantic treaty

France’s Prime Minister Manuel Valls has dismissed the possibility of an agreement on the US-EU transatlantic trade deal, since it goes against the interests of the European Union.
“No free trade agreement should be concluded if it does not respect EU interests. Europe should be firm. France will be vigilant about this,” Valls said addressing members of the governing Socialist Party on Sunday, AFP reported.

“I can tell you frankly, there cannot be a transatlantic treaty agreement. This agreement is not on track,” Valls added.

Jun 27 07:14

DEALING WITH A FINANCIAL CRISIS UNDER COVER OF BREXIT CHAOS: ECB BLOWS €400BN ON “BREXIT BLACK FRIDAY” BANK BAILOUTS

Remember TARP, the Troubled Asset Relief Program that the US Congress approved to bail out banks and other companies during the Financial Crisis? $700 billion were authorized, later reduced to $475 billion. The Treasury eventually dispersed $432 billion. I bring this up because the ECB bailed out the European banks with more than TARP, in just one day: on Brexit Black Friday.

The ECB saw what was happening to the shares of the largest banks on that propitious day. It saw a blooming financial crisis:

Jun 27 07:04

Barclays and RBS shares suspended amid Brexit crash

Two British banks were briefly suspended from trading in London after heavy losses triggered emergency measures that froze their shares.

Barclays and Royal Bank of Scotland both tripped so-called circuit breakers after crashing more than 8% on Monday. When trading resumed, Barclays (BCS) extended its losses to more than 10% and RBS (RBS) shed 13%.

Both banks confirmed their shares were suspended, but did not comment further.

Jun 27 05:44

After Brexit, European left calls for ‘massive political opposition’

In the tumultuous aftermath of the UK’s vote to leave the EU, the European left is responding with a mix of reason, measured reassurances, and righteous defiance.

Jun 27 05:43

Monday Morning - Markets Still Tanking

Jun 27 05:38

How to survive a personal economic collapse

With all that is being written about the economic collapses of nations around the globe, people in America seem to be waiting for some huge event.

Jun 27 05:35

Brexit will trigger more referendums and “the EU will crumble to pieces”

The decision by British voters to exit the European Union will devastating and lasting effects on the European Union.

Jun 27 04:21

DEALING WITH A FINANCIAL CRISIS UNDER COVER OF BREXIT CHAOS: ECB BLOWS €400BN ON “BREXIT BLACK FRIDAY” BANK BAILOUTS

Remember TARP, the Troubled Asset Relief Program that the US Congress approved to bail out banks and other companies during the Financial Crisis? $700 billion were authorized, later reduced to $475 billion. The Treasury eventually dispersed $432 billion. I bring this up because the ECB bailed out the European banks with more than TARP, in just one day: on Brexit Black Friday.

Jun 26 19:44

US Market futures down a bit, but no post-BREXIT melt-down

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Jun 26 16:16

Social Security and the Cash-Crunch

Jun 26 09:23

Why leaving the EU is possibly the single best thing that’s happened in recent history, and why mainstream media is panicking

How The EU Works
Let’s have a look at how the EU works:

First, there is the European Parliament, where MEPs are elected by the general public to represent them; their job is to vote for or against proposed new EU laws.

Next there is the European Council, where the nations’ leaders meet; yet their job is also not to propose new legislation.

That is the role of the European Commission, which consists of 28 commissioners — one for each member country. These people are not elected but chosen by each country’s current leader. It is these unelected commissioners who create the laws, not the leaders or MEPs we vote in.

It is also important to note that the 2007 Treaty of Lisbon replaced all previous treaties as the new EU constitution; in this treaty, it is also almost impossible for any country to petition a law once it has been put in force

Jun 26 08:53

The Real Brexit "Catastrophe": World's 400 Richest People Lose $127 Billion

This outcome was just as we expected three days ago for reasons that we penned in "Is Soros Wrong", where we said "in a world in which central banks rush to devalue their currency at any means necessary just to gain a modest competitive advantage in global trade wars, a GBP collapse is precisely what the BOE should want, if it means kickstarting the UK economy."

On Friday, the market started to price it in too, and in the process revealed that the biggest sovereign losers from Brexit will not be the UK but Europe.

Webmaster's Commentary: 

Awwwwww ... let's all feel bad for those poor suffering money-junkies!

Jun 26 08:46

CDS Blowout

Jun 26 08:29

TTP, TTIP, TISA and CETA: U.N. Legal Expert Calls Proposed Trade Deals “Illegal”

Alfred de Zayas, the U.N.’s Independent Expert on the Promotion of a Democratic and Equitable International Order, is assigned the task to apply the standards of international law to proposed treaties, to determine whether they’re in accord with international law. On Friday, June 24th, he issued his finding on three large proposed treaties regarding international trade among Atlantic countries: TTIP, TISA, and CETA. Earlier, on February 2nd, he had issued a similar finding on the proposed TPP treaty between Pacific countries, and his conclusion there was the same: that the proposed treaty violates international laws, and is inconsistent with democracy.

Webmaster's Commentary: 

All these trade deals were an attempt by the US to lock in the current economic reality before the US declines any further. Absent those deals, the US economy is in serious trouble. Inadequate manufacturing, agricultural produce nobody wants, and now the profiteering off of other nations' commerce is failing.

Jun 26 08:27

Hollande rejects Le Pen’s calls for Frexit referendum

President Francois Hollande has firmly rejected calls for a referendum on leaving the EU, said French right-wing leader Marine Le Pen. Disappointed with the talks and disregard for public opinion, she was left with the “feeling of coming for nothing.”

“We have called for the implementation of a referendum to ask the French if they wish to remain in the European Union,” Le Pen said according to French media. “He responded ‘no’.”

Webmaster's Commentary: 

Merde!

Jun 26 08:23

'No Future for TTIP': German Politician Slams Deal for 'Dividing' the World

The TTIP free trade agreement, in negotiations since 2013, involves the creation of a free trade zone between Europe and the United States. In an interview with Sputnik, German politician Alexander Gauland commented on the prospects of the implementation of the deal.

According to member of the German party Alternative for Germany (AfD) Alexander Gauland, negotiations on the TTIP are likely to come to a standstill.

Webmaster's Commentary: 

Because the "free trade" deal was anything but.

Jun 26 07:55

Cash Flowed to Clinton Foundation Amid Russian Uranium Deal

The article, in January 2013, detailed how the Russian atomic energy agency, Rosatom, had taken over a Canadian company with uranium-mining stakes stretching from Central Asia to the American West. The deal made Rosatom one of the world’s largest uranium producers and brought Mr. Putin closer to his goal of controlling much of the global uranium supply chain.

But the untold story behind that story is one that involves not just the Russian president, but also a former American president and a woman who would like to be the next one.

Jun 26 07:53

9/11 WTC Biggest Gold Heist in History: $300 Billion in Bars - VIDEO - The Systematic Complete Hijacking of The U.S.

There is plenty of evidence that the U.S. has undergone and is undergoing a complete and systematic looting by the 'Clint-Bush' crime syndicate which may employ foreigners and foreign powers to assist. Each so-called administration extracts their 'take'.

Add to this stuff the enabling of a sale of a uranium mine in the U.S. to a foreign person who sold it to Vladimir Putin. How does Hitlery have the right to chump-change give away the U.S.? Those are resources belonging to 'We, The Forgotten People'.

Jun 26 07:52

GOLD-GATE: Clintons and Federal Reserve stole Fort Knox gold

In October of 2009 China received a shipment of gold bars from the United States Department of the Treasury Bullion Depository in Fort Knox. The gold is regularly exchanged between countries to pay debts and to settle the balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government ordered special tests be performed to guarantee the purity and weight of the gold bars as China is the largest foreign holder of US Treasury securities. Chinese officials were shocked to learn that the bars were fake. The gold shipment contained a tungsten core with a thin coating of real gold. These tested gold bars originated in the US and had been stored in Fort Knox for years.

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