ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 07 10:35

Traders Finally Renew Interest In Hedging

Feb 07 10:29

Russia Today Reports: US Is Heading For Bankruptcy!

Country is heading for bankruptcy': Lawmakers question military spending

Mattis made a case for more military funding to counter countries threatening “America’s experiment in democracy,” some members of the House Armed Services Committee questioned the expense.
“In a world awash in change and increasing threats, there is no room for complacency.” Mattis said in his opening statement, naming the threats as “rogue regimes such as North Korea and Iran,” Islamic State (IS, formerly ISIS) and “long-term strategic competition with China and Russia.”

He argued that the lack of predictable funding has “eroded” US advantages in technology and warfighting, and pleaded with the lawmakers to pass a military budget.

“Without sustained, predictable appropriations, my presence here today wastes your time,” Mattis said, adding, “no strategy can survive without the funding necessary to resource it.”

Congress has approved the $700 billion National Defense Authorization Act in December, but an actual budget for the fiscal year 2018 has not been adopted, making the military and the rest of the government reliant on continuing resolutions>>>

Feb 07 10:23

BAILED-OUT RBS SYSTEMICALLY FORGED CUSTOMER SIGNATURES: WHISTLE-BLOWERS

The Royal Bank of Scotland, the UK mega-lender that has already cost British taxpayers over £90 billion in bailouts, losses, fines and legal fees, could be about to face its biggest scandal yet following allegations staff were routinely “trained” to forge customer signatures.

First, managers were taught how to fake the names on key customer documents, according to whistle-blowers at the bank, cited by the Scottish Mail on Sunday. Staff were then allegedly shown how to download authentic signatures from the bank’s online system, trace them on to new documents by holding them against a window and to photocopy the paperwork a number of times, to “obscure the image somewhat” and thus avoid detection — a blatantly criminal practice that allegedly became commonplace throughout the bank to speed up processing.

Webmaster's Commentary: 

Forgive me, but now that these revelations have come into broad daylight, why is this bank allowed to continue to operate, and why are the executives who signed off on these practices not in jail?!?

The only logical answer is, the rich rarely eat their own.

I cannot imagine, for the life of me, why people keep banking with this establishment, and do not take their money and financial transactions elsewhere.

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Feb 07 10:19

DOD Issued a $7 Million Cloud Support Contract To a Company With One Employee

The Defense Department awarded a sole-source contract to Eagle Harbor Solutions, an Alaska-based small business with a single employee, to consult in its major cloud acquisition.

A two-year-old company with one employee and little past performance will play a supporting role in one of the Defense Department’s most important tech acquisitions of the year.

In late January, the Defense Department awarded a $7 million sole-source contract to Eagle Harbor Solutions LLC, an Alaska Native-owned 8(a) small disadvantaged business, to support the Pentagon’s enterprise cloud initiative. For months, the Defense Department has been laying the groundwork to bid out a contract for enterprisewide cloud computing services that could be worth billions.

Yet the decision to hire a consultancy to provide support services in the Pentagon’s execution of its Joint Enterprise Defense Infrastructure (JEDI) cloud initiative is less surprising than who it was awarded to.

Webmaster's Commentary: 

Forgive me, but how can this little Alaskan company do all they are expected to do with only 1 employee?!?

And no discernable track record or proven expertise in this area?!?

What about professional references?!?

This is rather akin to throwing darts blindfolded, and hoping that some of them will actually hit the target!!

Feb 07 10:11

House passes stopgap spending bill to avert shutdown

The U.S. House of Representatives on Tuesday approved another stopgap bill to keep the federal government from shutting down, hours after President Donald Trump said he would “love” to see a shutdown if immigration legislation were not included.

Feb 07 09:40

A good look at our Uber economy

Feb 07 09:26

Nomi Prins: Trump's New Dark Money Man Takes Over

During her last news conference in December, Janet Yellen stood firm on her record stating, “The global economy is doing well. We’re in a synchronized expansion. This is the first time in many years that we’ve seen this.”

While attempting to lock in her record, Yellen urged, “There’s less to lose sleep about now than has been true for quite some time.”

Well, a lot of people lost sleep these past few days. And they might lose more sleep in the days to come.

Markets were due for a correction. Whether it turns out to be something worse, time will tell.

Feb 07 09:17

No Math, No Problem: Budget Realities Threaten Trump’s Military Expansion

US President Donald Trump has repeatedly claimed that the military will grow under his watch, financed by increasing an already large defense budget. However, a number of factors are poised to make the effort to fund this expansion more difficult than Trump may have realized, according to a new Congressional Budget Office report.

The Congressional Budget Office previously showed that if Trump's full-year military budget were passed, the national debt would grow an extra $683 billion over the next 10 years.

On top of rising healthcare costs, more expenditures for Social Security and higher interest payments on old debt, the CBO now reports there are even more financial worries that could risk ambitious military plans for a 350-ship navy, the purchase of more fighter jets and increased manpower.

Feb 07 09:11

Is A Massive Stock Market Reversal Upon Us?

Feb 07 08:44

How Things Work: Gold Hits 2-1/2-Month Low After Ukraine Says Ceasefire Agreed

Gold prices fell to their lowest since mid-June on Wednesday after Ukraine said it had reached an agreement with Russian president Vladimir Putin on a "permanent ceasefire" in its eastern Donbass region.


(*peace sells , but who's buying ?)

Feb 07 08:26

VIX Losses Feeding Collapse

Feb 07 08:17

Profiting From A Stock Market Crash

Feb 07 07:22

“Loot to eat” the new mantra of Venezuela as socialism collapse leads to mass starvation

The problem isn't socialism. The problem is decades of US economic warfare to force a regime change.

Feb 06 15:46

3 Things You MUST Know to Protect Your Money (Even If You Know Nothing About the Market)

In this economic climate, lots of folks are wondering how to protect their money. Some people are forced to invest in retirement funds by their employers, others play the market, some invest on their own, and nearly everyone has checking and savings accounts. But when the amount of money you have goes beyond something you could live off for a month or two, how do you deal with it wisely while minimizing your risk?

Feb 06 15:06

FEMA does a diversity hire for Puerto Rico aid. Results are as expected.

Unflipping believable

Atlanta "entrepreneur" with no employees and no manufacturing, packing or shipping resources gets $156 Million FEMA contract to supply meals to Puerto Rico.

Feb 06 14:54

No. It’s not over

Feb 06 13:40

Trump Fans Aren't Going To Like This

I've said it before and I'll say it again: If you're a Trump fan, I am not your enemy. I'd rather have Trump in office than the leftist/socialist alternatives. Unfortunately, Trump's decision to take credit for the surge in stock prices is coming back to haunt him as we speak. I detailed why this was such a grave mistake in an article I wrote a few months ago.

Feb 06 13:13

Fashionista Given $156M by FEMA to Provide 30 Million Meals to Puerto Rico, Delivered Only 50,000

Fashionista and self-described "Diva" Tiffany Brown touts her company Tribute Contracting LLC's status as a "minority owned government consulting firm" with "three FEMA Contracts" worth millions along with her "women's clothing line" and beverage delivery app "Luxe Fuel" on her website.

According to a report in The New York Times, Brown was given a massive $156 million contract from FEMA in October to provide 30 million meals to Puerto Rico after Hurricane Maria.

She delivered only 50,000.

Feb 06 12:29

Dow Jones Industrial Average struggling to stay out of the red.

Feb 06 11:12

How can I trade cryptocurrencies in Hawaii, a state where I can't get a wallet because of government regulations?

I’m going to break your question down into two questions:

How do I get a cryptocurrency wallet if I live in Hawaii?
How do I get fiat currency (in this case, US dollars) into and out of cryptocurrencies?

Feb 06 10:35

...If VIX Products Are Broken...

Feb 06 09:12

Credit Suisse to Stop Trading on XIV

Feb 06 08:40

US-China trade duel heading for trouble

In Davos and during his recent State of the Union address to Congress, Donald Trump made clear that he means to get tough with China. This U.S. president has an "outdated Cold War mentality," responded China's foreign ministry. Trade and investment relations between the world's two largest economies are headed for trouble. Trump does not want a full-scale trade war. Neither does Beijing. But even short of that, there is much damage that can be done.

Feb 06 08:40

The Federal Reserve May Secretly Want to Sink the Record-Breaking Stock Market

Despite its independence, the Federal Reserve may quietly want a bear market that takes down a president that loves tweeting about the stock market.

Peter Schiff, CEO of Euro Pacific Capital, told TheStreet the "[Janet] Yellen put" in the markets could expire under President Trump. "I don't know if the Fed has much love for Trump," he said, adding that the Fed had the markets' back during the Obama Administration.

"Maybe the Fed would be happy to see a bear market that could be blamed on Trump." Schiff thinks the markets could easily correct 20%.

Feb 06 08:23

Is the 9-Year Long Dead Cat Bounce Finally Ending?

Ignoring or downplaying these fundamental forces has greatly increased the fragility of the status quo.

The term dead cat bounce is market lingo for a "recovery" after markets decline due to fundamental reversals. 

Feb 06 08:20

Merkel, Schultz, & The Prelude To A European Liquidity Shock

If there was ever an example of political leadership selling out their constituents for their own agendas it is the coalition negotiations happening in Germany right now.

Both Angela Merkel and SPD Leader Martin Schultz have to retain power in Germany in order to retain power in Brussels heading up the European Union. To do this they will agree to anything regardless of what Germans actually want.

Feb 06 08:19

Pentagon Auditor Can't Account For $800 Million In Spending

The Pentagon’s Defense Logistics Agency (DLA) has reportedly "lost track" of hundreds of millions of dollars it spent, said Ernst & Young, the accounting firm conducting the first-ever Pentagon audit, according to Politico.

Feb 06 08:12

French economic fanfare belies challenges ahead

International investors are bullish, Wall Street bankers ecstatic, French business leaders full of confidence. And above all, Angela Merkel is happy.

Less than a year after he took office, President Emmanuel Macron has ample reason to boast about France’s economic rebound. As happened across the eurozone, French GDP growth was much stronger than expected last year — estimated at about 1.6 percent on an annual basis, a big jump from 2016’s 1.1 percent. And growth should be solid again in 2018.

Macron’s determination to reform is being taken seriously in France and even in Germany, which has long been skeptical of French presidents’ reformist proclamations. Later this year, however, long-standing economic fragilities could reveal some chinks in the president’s armor.

Feb 06 08:08

PRICE WAR: Chinese shopping giant JD.Com to challenge Amazon in UK on back of May’s visit

CHINA’S massive shopping website JD.com is heading to the UK to branch out into the European market and challenge Amazon on the back of Theresa May's recent visit to Beijing to boost trade.

Feb 06 07:57

Rand Paul To Hold Hearing On Govt Waste This Week- U.S. Wasted $500,000 To Study If Taking Selfies Made People Happier

One of the outrageous wastes featured in Rand Paul's latest report was a federal government agency spending $500,000 of our tax dollars to study if taking selfies makes people happier.

Feb 06 07:56

How to Survive a Stock Market Crash

Has anyone noticed how the stock market has been extremely volatile? And how nearly everyone is soothed when industry specialists scramble to prop up our failing economy? And it’s not only happening in America – all over the globe, markets have been up and down more than usual. The last time the system showed this much volatility, the crash of 2008 occurred.

I’m no financial expert, but there seems to be a collection of very, very bad signs. When markets slowly freefall and no one in the media is talking about it, that means it’s time to sit up, pay attention, and be prepared to take immediate actions.

Feb 06 07:35

Will XIV spread contagion in equities?

Feb 06 07:33

Dow Jones Industrial Average Opens slightly up.

Feb 06 05:07

-1,175 Points! We Just Witnessed The Largest One Day Stock Market Crash Ever

The mainstream media seems so surprised that the stock market is crashing, but the truth is that it isn’t a surprise at all. 

Feb 05 20:04

Kolanovic Admits He Was Wrong, Says Central Banks May Step In To Halt The Crash

"Today’s large increase of market volatility will clearly contribute to further outflows from systematic strategies in the days ahead: the total amount of these outflows may add to ~$100bn... but there is a strong probability of policy makers stepping in to calm the market."

Feb 05 20:01

Credit Suisse Tumbles On Fears Of Massive XIV Loss

In addition to being the creator of the now infamous XIV ETN, Credit Suisse also happens to be its biggest holder. Which is suddenly a very big problem for the Swiss bank.

Feb 05 16:21

Roboadvisor Websites Crash, Lock Out Traders From Their Accounts

Customers of roboadvisers Betterment and WealthFront customers are furious after both companies' servers crashed during today's stock-market route, locking thousands of customers out of their portfolios.

Feb 05 15:53

Are We Crashing Yet?

Feb 05 15:42

"This Is It": Traders Panic As XIV Disintegrates After The Close

As one veteran trader (who has seen numerous volatility cycles), "I've never seen anything like this... this is it" referring to the start of the unwind of the biggest aggregate short volatility position the market have ever known.

Feb 05 14:22

U.S. Stock Futures

Feb 05 13:07

Dow Jones Industrial Average hits 1500 DOWN!

Webmaster's Commentary: 

PPT trying to shove market back up in final hour of trading.

Time to panic. If you are on Wall Street, keep an eye out for brokers falling out of the sky!

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WRH breaking
Feb 05 11:29

Another Bad Day For The Dow Jones Industrial Average

Feb 05 11:22

RON PAUL: WHAT THE FBI/FISA MEMO REALLY TELLS US ABOUT OUR GOVERNMENT

The release of the House Intelligence Committee’s memo on the FBI’s abuse of the FISA process set off a partisan firestorm. The Democrats warned us beforehand that declassifying the memo would be the end the world as we know it. It was reckless to allow Americans to see this classified material, they said. Agents in the field could be harmed, sources and methods would be compromised, they claimed.

Republicans who had seen the memo claimed that it was far worse than Watergate. They said that mass firings would begin immediately after it became public. They said that the criminality of US government agencies exposed by the memo would shock Americans.

Then it was released and the world did not end. FBI agents have thus far not been fired. Seeing “classified” material did not terrify us, but rather it demonstrated clearly that information is kept from us by claiming it is “classified.”

In the end, both sides got it wrong. Here’s what the memo really shows us:

Webmaster's Commentary: 

At this moment, and considering myself a reasonably responsible adult, I have absolutely zero faith in any element of the US government.

Elections are not about the qualities and beliefs of the individuals running for office, but about which ones are better trusted (and funded, overtly and covertly) by corporations, to be most committed to the existing status quo of allowing corporations to run absolutely roughshod over the American consumer, in terms of quality of product; pricing; and limited liability, or zero liability for their products, like software.

Yes, in this country, we have those 4 year, illusory, Kabuki-like spectacles of national elections in this country; but in the end, it is always the thoroughly vetted, war-centric, corporate-centric, Deep State-obeying candidates who generally win, no matter what We the People want;so real change, where we actually have a government which listens and responds to the needs and concerns of its people, cannot possibly happen.

It is utterly maddening to me that the Candidate Trump we saw on the election trail, one thinking about rapprochement with countries like China and Russia, and disengaging from these draining, horrific wars in which the US military is thoroughly mired, is not the President Trump we have in the White House.

He has been totally turned against peace and negotiations as the chief weapons of American statescraft, into one of the most terrifyingly sabre-wrattling, weapons-peddling Presidents in current history, to the point of having State Department officials shill for American weaponry at foreign air shows:

U.S. State Department official to promote military sales at Singapore show

US Delegation pitches arms sales in China's Backyard

Forgive me, but since when was it consided ethically proper, and morally correct, to send government officials to peddle the wares of America's Merchants of Death and Destruction?!?

The short, pragmatic answer is, since the world doesn't want to buy shoddily made American goods, or software, or, God forbid, our disease-inducing GMO-laden food, it appears... that our weaponry is the only thing foreign countries want to buy, when even that, too has a hard time competing with Russian or Chinese weaponry that is very well made, and does't cost anywhere near as much as its US competition.

Feb 05 11:05

White House says 'it's concerned' as Dow Jones falls 214 points after HUGE plunge

After shedding a massive 666 points on Friday, The Dow Jones Industrial Average is down another 214 points or 0.8 percent in early trading today.

The White House today confirmed it was worried about the US stock market drop.

In a statement to CNBC, an official said: "We're always concerned when the market loses any value, but we're also confident in the economy's fundamentals."

Feb 05 10:41

VIX Spike Takes it Above All of its Futures

Feb 05 10:41

Global Smart Phone Sales Suffer Biggest-Ever Quarterly Drop

"... the biggest annual fall in smartphone history... was caused by a collapse in the huge China market..."

Feb 05 10:39

Bitcoin Bloodbath Builds - Now Among Biggest Crashes Ever

Bitcoin's collapse has continued through the morning to a low price of $7141...

Feb 05 10:34

The Q Ratio And Market Valuation

Feb 05 10:33

TURKEY WARNS US TROOPS IN NORTHERN SYRIA MAY BE TARGETED BY ITS ARMED FORCES

Last week we reported that days Turkey valiantly demanded that US forces vacate military bases in the Syrian district of Manbij, the US predictably refused, and on Monday a top American general said that US troops will not pull out from the northern Syrian city of Manbij, rebuffing Ankara demands to withdraw from the city and risking a potential confrontation between the two NATO allies.

One week later, in the latest dramatic escalation between the two NATO members, Turkey's Deputy PM has warned that US troops fighting alongside Syrian Kurdish militias in the same uniform may be targeted by the Turkish army due to the difficulty of distinguishing them in the heat of battle, effectively stating that US troops in northern Syria are now "fair game" in the ongoing deadly conflict.

Webmaster's Commentary: 

What I am hoping - and praying - for, is that this major escalation in tensions, and the war of words, between DC and Ankara, does NOT mean that our troops in Syria are being considered "sacrificial lambs" by this administration, to be used as a pretext and justification, to establish a wider US footprint in Syria.

Remember: regime change in Damascus is ultimately the issue to which this Administration keeps stubbornly clinging like a tick, no matter how high military and civilian casualties might be in pursuance of that goal.

I just have to wonder at what point Russia, which was invited by the Syria govenment to get rid of its jihadis will say "NYET!!" to a further American invasion of this sovereign country, and what actual steps may be taken by the Russians to prevent this from happening.

Because if the game plan by DC is to engage Russia in Syria militarily, it is obviously a game plan which was never thoroughy vetted, or thought through, with any degree if intellectual rigor.

Feb 05 10:21

Lloyds Banking Group has banned Bitcoin buys on credit cards

Lloyds bank has stopped credit card customers from buying bitcoin, amid concerns of a credit risk surrounding the cryptocurrency's rapidly falling value.

Coming into effect today, the ban applies to Lloyds Bank, Bank of Scotland, Halifax and MBNA.

Feb 05 10:19

U.S. CONSIDERS CUTTING VENEZUELAN OIL IMPORTS, AS PRE-SALES OF "PETRO" CRYPTOCURRENCY LOOMS

Washington may be nearing a decision on extending sanctions against Venezuela to include imports of Venezuelan crude and exports of U.S. refined products to the troubled South American country.

That’s what Secretary of State Rex Tillerson said during a visit to Argentina, adding that “One of the aspects of considering sanctioning oil is what effect would it have on the Venezuelan people? Is it a step that might bring this to an end more rapidly?”

Current sanctions target separate individuals from the Nicolas Maduro government as well as a ban on U.S. banks and other institutions buying Venezuelan debt. Venezuela has traditionally been an important exporter of oil to the United States, which made Washington wary of playing the oil import ban card.

Webmaster's Commentary: 

This is an attempt, pre-Venezuelan elections, to slam the Venezuelan economy into an economic hole from which it cannot escape, and drive the quality of life here to include even more misery than it's people are already experiencing.

I am quite certain, come the next elections here (happening on April 30th of this year), that the US is backing it's "favorite son" candidate with money, illegal votes, and expecting the returned promise that Venezuela's oil will only be sold to the multinational companies of which the US government approves, and only sold in US dollars.

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