ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Nov 26 08:46

Shale Hedges Threaten Oil Rally

Nov 26 08:13

There Is Just One Thing Preventing Elon Musk's Vision From Coming True: The Laws Of Physics

While the event was ostensibly scheduled to introduce Tesla’s new semi-truck – a model that won’t make it’s market debut for another two years, assuming Tesla sticks to its product-rollout deadline – Musk had a surprise in store: A new model of the Tesla Roadster that, he bragged, would be the fastest production car ever sold.

Musk made similarly lofty claims about the battery life and performance of both vehicles. The Tesla semi-trucks, he said, would be able to travel for 500 miles on a single charge. The roadster could clock a staggering 620 – more than double the closest challenger.

There was just one problem, as Tesla fans would later find out, courtesy of Bloomberg: None of it was true.

Nov 26 07:33

EU Concern Rising About Italian Debt

Nov 26 07:13

Huge spike in US military non-combat plane crash fatalities in 2017 – report

The number of US servicemen killed in plane crashes has “skyrocketed” in 2017 compared to last year. The gruesome revelation comes just days after three US sailors were killed in a plane crash in the Philippine Sea.

According to Fox News, 22 US military planes have crashed so far this year while flying non-combat operations – up 38 percent from last November.

Thirty-seven US service members have died in these accidents. The current death toll is 130 percent higher than the number of servicemen killed in non-combat crashes from the year before.

The most recent incident occurred Wednesday>>>

Nov 25 18:47

Financial Crisis – Imminent and Inevitable?

By Chris Kanthan

It’s never fun to warn people about an imminent crisis, especially at peak euphoria. Trump and his voters constantly boast about the economy and the stock market and, of course, Obama and his fans did the same during his tenure. This reflects a fundamental misunderstanding about the driving factors behind the deceptively good numbers since the last financial crisis. Let’s deconstruct the fake news about the fake economy.

Let’s start with the stock market. Does this chart of S&P 500 index like a bubble? That’s 250% growth in 8 years!...

Nov 25 17:55

The Source Of The Next Crisis:

Nov 25 17:39

STOCK MARKET CRASH 5 PROTECTION STRATEGIES

Nov 25 17:23

Fed Admits is Does Not Understand The Markets

Nov 25 16:51

Jim Grant podcast – The tick-tock of time

Nov 25 14:58

$40 WTI Is Now More Realistic Than $60

Nov 25 10:58

WILL THE STOCK MARKET CRASH IN 2018? (VIDEO)

Nov 25 10:08

The American Dream Is Dead

Nov 25 09:01

Labour call for working-class people to retire earlier than middle-class workers

WORKING-CLASS people with physically demanding jobs should be able to retire earlier than middle-class professionals, a Labour frontbencher has suggested.

Nov 25 08:59

GERMAN CRISIS: Berlin facing ‘dangerous’ economic future as political chaos engulfs Merkel

The risk of a massive economic decline has prompted calls for change in direction by the European Central Bank (ECB).

Professor Clemens Fuest, head of the IFO Institute, has said: “It is very clear that monetary policy is too expansionary for Germany by any rule you care to use, but it is also too expansionary even for the rest of eurozone.

“We are seeing a strong acceleration everywhere. We think the ECB should be cutting asset purchases to zero by April.”

Nov 25 07:32

BTC Update: Sell

Nov 24 19:32

Foreign aid: This is how much Britain forked out last year - including £463m to Pakistan

BRITAIN gifted Pakistan £463million in foreign aid last year, equal to £1.2 million a day, new figures show.

The country is now the biggest recipient of UK handouts despite having its own space and nuclear weapons programmes.

Official documents also reveal Syria received £352 million, Ethiopia got £334 million, Nigeria was given £230 million and Afghanistan £235 million in 2016.

The spending scandals are revealed just days after Chancellor Philip Hammond made no moves to adjust Britain’s Official Development Assistance [ODA] commitment in his Budget.

It means the UK will continue to spend 0.7 per cent of its income on foreign aid, despite cash-starved frontline services like the NHS begging for more money.

Nov 24 18:02

Bitcoin: An Unknowable Bubble?

Nov 24 16:26

BLACK FRIDAY NIGHTMARE: Furious customers are complaining that Macy's won't let them pay as system glitches

Customers are complaining about Macy's credit card systems failing across the country on Black Friday.

"Macys credit card system down nationwide," Kenn White tweeted at 1:29 p.m. ET on Friday. "They are not informing shoppers standing in long lines. Getting ugly out there."

Many other people reported similar problems on social media.

Nov 24 15:38

Mtg purchase apps, Durable goods orders

Nov 24 13:57

Judge Rules Seattle’s Income Tax On Wealthy Is Illegal

By Aaron Kesel

A Seattle King County Superior Court ruled that a controversial piece of legislation meant to tax wealthy households is illegal, Seattle Times reported.

In a judgment, Judge John R. Ruhl said the city ordinance adopted in July is not authorized under state law...

Nov 24 09:58

George Soros' $18 Billion Tax Dodge Exposed

The wealthy have tucked billions into private nonprofits... where the IRS can’t touch it.

Congress is still scrambling to find ways to pay for its tax cut, so perhaps it should pay closer attention to last month’s news that George Soros had transferred $18 billion of his fortune to a private charity that he controls. There it will be sheltered from the Internal Revenue Service forever. This may be the single biggest tax dodge in U.S. history, yet no one on the right or left seems to have raised an eyebrow.

True tax reform is predicated on the principle that all income should be taxed at a low rate once, and only once. But much of the wealth that Mr. Soros spent years moving into his Open Society Foundations will never be taxed. A gift of billions of dollars of appreciated stock escapes any capital gains tax, and the estate tax as well. So Mr. Soros can donate appreciated stock that Open Society Foundations can liquidate without the government ever taking a cut.

Webmaster's Commentary: 

WOW, what a sweet racket, if one has the army of lawyers and accountants who understand how it's done!!

Nov 24 08:02

California Thanksgiving help for the homeless: ‘We haven’t seen numbers like this since the Great Depression’

The Midnight Mission said the group has been serving nearly 1 million meals a year each year since 2013: “We haven’t seen numbers like this since the Great Depression”

( LA Times ) Thanksgiving meals will be served to thousands of homeless and near-homeless individuals today on Skid Row and in Pasadena and Canoga Park amid calls for donations and volunteers for the rest of the year.

The Midnight Mission will serve Thanksgiving brunch to nearly 2,500 homeless and near-homeless men, women and children, according to Georgia Berkovich, its director of public affairs.

The Midnight Mission is seeking donations of $5 to $10 to help it cover the costs of the meals. Donations can be made by texting “Meals” to 71777, Berkovich said. The mission serves meals seven days a week, distributes hygiene kits after its meal service and conducts drives for food and clothing to distribute to its guests

Webmaster's Commentary: 

Please understand; this economy is going great guns for major corporations. For displaced, lower middle class individuals who have seen their jobs permanently offshored/outsourced, this economy is a nightmare.

Nov 24 07:54

MICHIGAN TOWNSHIP BLOCKS NESTLE FROM BOTTLING, RESELLING ITS GROUNDWATER

A small Michigan township is making a stand against Nestle, temporarily blocking the company from pumping millions of gallons of groundwater for bottled water. Citizens near Evart, Michigan became outraged when Nestlé proposed to build even larger pipelines to increase the flow of water to its plant in Standwood. Global News CA details the local resistance to Nestlé’s proposed expansion to collect even more ground water:

The added capacity provided by the proposed booster pump would make it possible for Nestlé to extract an estimated 1,500 litres of groundwater per minute, representing more than 4.2 million bottles of water in a 24-hour period. That’s equal to 794 million litres of water annually.
As explained by Global News CA, “the company is currently limited to pumping 945 litres per minute, up significantly from its pre-2015 cap of 565 litres per minute.”

Nov 24 07:52

SAUDI ARABIA ARRESTS SECOND RICHEST MAN IN KINGDOM

Saudi authorities have arrested Mohammed Hussein Al-Amoudi a duel national with Saudi and Ethiopian citizen and is reportedly the second richest Saudi, after Prince Al-Waleed bin Talal.

While bin Talal’s arrest has gained most media attention. Al-Amoudi’s arrest is especially important because it could potentially destabilize the economy of an entire country, according to Middle East Eye.

Al-Amoudi, who is also known as “the Sheikh”, has invested in almost every sector of Ethiopia’s economy, including hotels, agriculture and astrology.

According to a leaked diplomatic cable from 2008 “the Sheikh’s influence on the Ethiopian economy cannot be underestimated.”

Webmaster's Commentary: 

Although, given his wealth and investments, this is probably a "Sheikh Shake-Down" for money, on the part of Prince Salman, it will have to be seen how this arrest,and the aftermath, plays out in both African and international markets first part of next week.

Nov 24 07:45

AfD: European Sanctions Against Russia Cost Germany Thousands of Jobs

Markus Frohnmaier, who leads the EU-skeptic Alternative for Germany (AfD) youth wing, said sanctions on Russia had considerably affected Germany’s economic prosperity and hurt its people.

Nov 24 06:50

Saudis Get $7B in US Arms for Yemen War

(*but if you so much as photoshop an image to demonstrate your disdane for this allotment , here in the land of the free ...)

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