ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 28 17:02

U.S. Congress Moves To Protect Certain Cryptocurrency From U.S. Government

The Daily Caller reported that at least three members of the U.S. Congress are currently working on legislation that will aim to protect certain cryptocurrencies against government interference.

A source reportedly told the Daily Caller that at least one Republican member of the Senate and two Republican House members are working on the draft legislation. The three lawmakers involved in the bill asked not to be identified due to the nature and complexity of the proposal...

Aug 28 15:45

Wall Street recruiter jumps to her death from luxury NYC home

A 40-year-old Wall Street recruiter leaped to her death Monday morning from her luxury Upper East Side home, sources told The Post.

Lindsay Jacoby jumped around 10:30 a.m. from the fourth-floor roof at 12 Henderson Place, a historic brick home located between East 87th and 86th streets, sources said.

Jacoby and her husband, Seth, purchased the tony one-family home in 2014 for $3.6 million, according to public records.

She previously worked in internal recruiting positions at JP Morgan and Citigroup and served as principal at her own firm, Jacoby Staffing.

Lindsay and Seth Jacoby were married in 2005, according to a New York Times announcement.

Her suicide comes seven months after Margaret Fagenson jumped to her death from a 14th-floor terrace at 535 E. 86th St., across the street from 12 Henderson.

Aug 28 12:11

Adults Take Over at Uber, Cost Cutting Starts

Suddenly taking expenses seriously before it’s too late.

Aug 28 09:30

Beer production returns to Syria with opening of $16mn brewery (VIDEO)

This is for all you beer drinkers (Me Included). Our government supports the guys who blow up Breweries. BAD! BAD! BAD! The Russians and Iranians support the guys who like to make Beer! GOOD! And they are going to make Pilsner lager! Triple GOOD!

Syria’s beer production industry is being resurrected with the opening of a $16 million brewery which plans to produce an impressive 15 million litres the product each year

The Aradoz Beer Factory opened in Syria’s north west coastal city of Safita and is the work of two Syrian expats living in the Czech Republic. It represents the first mass-produced domestic beer since the civil war halted production of the country’s only two brands.

Aug 28 09:12

Europe: How Bond Investors Get Wiped Out

Aug 28 09:11

She eats out of dumpsters so she can afford long-term care for her husband

Betsy Winkler’s first stop is the bakery counter. It is early on a drizzly summer morning, and the grocery store is neat and quiet. But when the sleepy clerks roll out carts brimming with past-their-prime breads and pastries, the 60-year-old gets to work.

She fills the back of her dusty green minivan, neatly stacking croissants and chocolate muffins, cookies and cinnamon rolls, Dutch apple pie and foot-long hot dog rolls. In an hour or so, the volunteer will deliver the baked goods to the Kuna Good Neighbors Inc. food bank.

Before that, though, Winkler has another stop to make: the grocery store dumpster. That’s where she gathers the fruit and vegetables that will sustain her throughout the week. What she does not eat she will can, freeze or dry for even leaner times.

Aug 28 09:11

Sears Revenues to Hit Zero in 3 Years. But Bankruptcy First

This baby is going down the tubes at an ever faster speed.

Aug 28 08:58

Stop Subsidizing Sports!

Aug 28 08:14

Hurricane damage shuts down major US oil refineries

Ten crude refineries around Houston and Corpus Christi in Texas are closed in the wake of torrential rains, and devastating flooding brought about by Hurricane Harvey during the weekend.

The shut refineries normally have a daily capacity of nearly two million barrels of crude, according to a report by S&P Global Platts.

Aug 28 07:50

Finding The Root Cause Of Recessions

Two things bear most of the blame: external shocks and economic volatility.

Aug 28 07:36

7 Things Our Grandparents Handmade (That We Waste Money On At The Store)

People say life is expensive nowadays, and I admit I would be among the first to agree. There are a few ways we could all tighten up our budgets, however.
For the answers to how we all could save money on everyday things, many of us need look no further than our own grandparents. There are plenty of items they made themselves which we routinely purchase ready-made — and that habit costs us money.

Here are seven things our grandparents (or great-grandparents) made that we waste money on at the store:

Aug 28 07:00

Carl Herman/Jim Fetzer 4-part discussion series: .01% US illegal rogue state empire of Wars of Aggression, looting trillions, lying through corporate media and public education

*hyperlinks/videos live at source*

Carl Herman is a National Board Certified Teacher in Government, Economics, and History, also credentialed in Mathematics. Jim Fetzer (podcasts here, here) is Distinguished McKnight Professor of Philosophy Emeritus of the University of Minnesota Duluth; Founder, Scholars for 9/11 Truth; Editor, Assassination Science; Co-Editor, Assassination Research, and author to over 30 books. Jim and Carl contribute nearly 100 years of academic training and professional experience in this four-part series to reveal among the most obvious lies of omission and commission keeping Americans ignorant of ongoing .01% US rogue state empire.

Jim and Carl factually assert an Emperor's New Clothes condition that Americans can easily see for themselves, if they care to look.

4-part series, with linked documentation:

1. US illegal: history of rogue state empire (56-minute video below, and here)

Aug 28 05:08

Negative interest rates have come to America

Aug 26 10:41

German Election 2017: Moment woman, 75, who worked 43 years SHAMES Merkel over pension

ANGELA Merkel was confronted by an elderly woman who has worked for 43 years and has now been left to live on just £835 a month in dramatic scenes on German television.

Aug 26 08:54

Trump Attorney Sues Greenpeace Over Dakota Access Pipeline in $300 Million Racketeering Case

Energy Transfer Partners, owner of the Dakota Access pipeline, has filed a $300 million Racketeer Influenced and Corrupt Organizations (RICO) lawsuit against Greenpeace and other environmental groups for their activism against the long-contested North Dakota-to-Illinois project.

In its 187-page complaint, Energy Transfer alleges that “putative not-for-profits and rogue eco-terrorist groups who employ patterns of criminal activity and campaigns of misinformation to target legitimate companies and industries with fabricated environmental claims and other purported misconduct” caused the company to lose “billions of dollars.”

Webmaster's Commentary: 

The protestors feared what would happen to this part of the planet if drilling began, and their worst fears were realised last May:

Dakota Access pipeline has first leak before it's fully operational

Dakota Access Pipeline has sprung 2 new leaks

What the creators of this lawsuit want to accomplish, is kill peaceful free speech and the right of assembly, protected under the First Amendment, outright.

Aug 26 08:31

More American Troops to Afghanistan, To Keep the Chinese Out? Lithium and the Battle for Afghanistan’s Mineral Riches

The US military bases are there to assert US control over Afghanistan’s mineral wealth. According to Foreign Affairs, “there are more U.S. military forces deployed there [Afghanistan] than to any other active combat zone”, the official mandate of which is “to go after” the Taliban, Al Qaeda and ISIS as part of the “Global war on Terrorism”.

Why so many military bases? Why the additional forces sent in by Trump?

The unspoken objective of US military presence in Afghanistan is to keep the Chinese out, i.e hinder China from establishing trade and investments relations with Afghanistan.

More generally, the establishment of military bases in Afghanistan on China’s Western border is part of a broader process of military encirclement of the People’s Republic of China.–i.e naval deployments in the South China sea, military facilities in Guam, South Korea, Okinawa, Jeju Island, etc. (see 2011 map below)

Pivot to Asia

Aug 26 08:23

NATO says Russia should be transparent about its military drills

NATO Secretary General Jens Stoltenberg said on Friday the alliance would closely watch Russian military exercises in western Russia and Belarus next month, urging Moscow to be transparent about the drills.

The maneuvers, the largest in years, with tanks, naval and air units operating in and around the Baltic and North Sea, have raised NATO’s concern that the official number of troops participating might be understated.

“We are going to be watching very closely the course of these exercises,” Stoltenberg told reporters after meeting Polish Prime Minister Beata Szydlo on a visit to check on the deployment of the U.S.-led alliance’s forces in the country’s east.

“All countries have the right to exercises of their armed forces, but the countries should also respect the obligation to be transparent.”

Webmaster's Commentary: 

Were I NATO'S Secretary-General Jens Stoltenberg, I would not be speaking of "Russian Transparency" in these drills, but rather on the issue of mutual cooperation in areas of mutual interest.

Talking, then acting together, in accord, on these areas, will do far better to ratchet down tensions between Europe and Russia than an accusatory statement about the lack of transparency (whatever the heck that is) in Russia's military drills.

Aug 26 07:54

U.S. will not tolerate Venezuelan 'dictatorship': Haley

U.S. ambassador to the United Nations Nikki Haley said on Friday that U.S. sanctions against Venezuela were a strong message to President Nicolas Maduro that the United States would not tolerate a “dictatorship” in that country.

Haley, speaking at United Nations headquarters in New York, said she had not been asked to meet at the UN with visiting Venezuelan foreign minister Jorge Arreaza.

Webmaster's Commentary: 

What, precisely, does Ambassador Haley mean when she says that the US "... will not tolerate a dictatorship in Venezuela."?!?!?

Ambassador Haley, a word please; the US government has been very cosy with dictatorships it has helped install around the world, from that of the Shah of Iran to Pinochet in Argentina; and to Petro Poroshenko in Ukraine (an action over which some of the more aware career State Department staffers are experiencing "Buyer's Remorse", but I digress).

Hugo Chavez used Venezuela's great oil wealth for the good of Venezuelan citizens.

Economic policies of Hugo Chavez

You and your colleagues are very comfortable with dictators, just as long as they are western-centric, and to your liking, economically.

But what you and your colleagues are "lusting after in your collective hearts", is to insure Venezuela is controlled by a US centric puppet; give control of the Venezuelan oil fields to American or US-friendly foreign nationals; and insure that Venezuela's oil is only sold in US dollars.

I am certain that if you believe you can accomplish "regime change" in Caracas, you will do that, most probably militarily, no matter how many innocent Venezuelans get killed.

In terms of its ability to fight back, militarily, Venezuela may appear to be "the low hanging fruit" for regime change.

But Ambassador Haley, I must strongly caution you that the US government needs to review its recent military epic fails around the world to date, and spanning several administrations; the US wars against Iraq; Afghanistan; Somalia; and Libya were not the "poster child" wars successive administrations thought they were going to be.

IF the US government goes in with a decap strike against Maduro, it may not go terribly well, as the Venezuelan people will most probably not accept an outside military force as "liberators".

Just saying...

Aug 25 15:54

Housing Bubble Starting to Pop- Trouble Ahead

Aug 25 13:43

Sears Death Spiral Accelerates: Vendors Halt Shipments As Cost Of Default Insurance Soars

When we commented back in March on the unexpected "going concern" notice in Sears' 10-K which sent the stock crashing, we pointed out the immediate spin provided by Eddie Lampert's distressed retailer which promised that its comeback plan may help alleviate the concerns, “satisfying our estimated liquidity needs 12 months from the issuance of the financial statements", to which however we added the footnote that "the question is what happens when vendors start demanding cash on delivery as concerns about SHLD.'s liquidity concerns continue to grow.

Shortly after, we wrote "Sears Enters Death Spiral: Vendors Halt Shipments, Insurers Bail" in which we described that as Sears financial condition deteriorated, vendors were boosting their "defensive measures", such as reducing shipments and asking for better payment terms, to protect against the risk of nonpayment as the company warned about its finances.

Aug 25 13:33

LA’s response to homeless encampments ‘isn’t working,’ councilman says

Amid rising homelessness and mounting outcry from residents and business owners, a Los Angeles city councilman said Wednesday he wants to take a hard look at the way the city responds to the increasing presence of encampments and recreational vehicles.

“What we have isn’t working,” Councilman Mitchell Englander said.

In recent months, the issue of homelessness has become inescapable, with residents encountering more homelessness in their neighborhoods, according to the councilman, who represents the northwest San Fernando Valley.

“There’s not a conversation I have — whether it’s fixing a street, trimming a tree, walking to school or going to a grocery store — where we don’t talk about homelessness,” he said.

Out of Los Angeles City Councilman Joe Buscaino’s office: “Ditto,” said spokesman Branimir Kvartuc.

“We’re very, very conscious of it,” Kvartuc said. “It’s a battle every day.”

Webmaster's Commentary: 

This is a horrific image of America, going out to the world, that we do not have the means, or willingness, to deal with the problem.

I cannot imagine anyone saying to themselves, "Oh, I just want to be so financially stressed, after losing my job and my residence, because I couldn't pay the rent, that I sincerely want to homeless now."

I am no bleeding heart; I was very lucky to come from a family with true work ethics, and have learned to make what I'm good at into a profession.

Aug 25 13:20

Rickards: The truth about the Fort Knox gold

Aug 25 13:16

NAFTA Is 23 Years Old – Here Are 20 Facts That Show How It Is Destroying The Economy

Back in the early 1990s, the North American Free Trade Agreement was one of the hottest political issues in the country. When he was running for president in 1992, Bill Clinton promised that NAFTA would result in an increase in the number of high quality jobs for Americans that it would reduce illegal immigration. Ross Perot warned that just the opposite would happen. He warned that if NAFTA was implemented there would be a “giant sucking sound” as thousands of businesses and millions of jobs left this country. Most Americans chose to believe Bill Clinton. Well, it is 20 years later and it turns out that Perot was right and Clinton was dead wrong. But now history is repeating itself, and most Americans don’t even realize that it is happening. As you will read about at the end of this article, Barack Obama has been negotiating a secret trade treaty that is being called “NAFTA on steroids”, and if Congress adopts it we could lose millions more good paying jobs.

Webmaster's Commentary: 

Any trade deals which do not better the situation of workers in the US makes them worse for the American worker, and consequently, should not be ratified by the US Senate.

But we know what will happen here; corporations who support these alleged congressional representatives, will be come "The Congressional Whisperers", and insure that trade deals which compromise the American people, financially, will ultimately be ratified, because those deals support their corporations, no matter how horrific they may well be for We the People.

Aug 25 12:56

NEW BILL WOULD FORCE ARRESTED PROTESTERS TO PAY POLICE OVERTIME, OTHER FEES

A NEW BILL INTRODUCED by seven Pennsylvania Republican state lawmakers could force protesters arrested at demonstrations to pay for police overtime and other fees related to the action.

The bill, SB 754, has been introduced by Rep. Scott Martin of Lancaster County; his district has been the site of anti-pipeline protests aimed at the Atlantic Sunrise natural gas pipeline.

Under the terms of the bill, “a person is responsible for public safety response costs incurred by a State agency or political subdivision as a result of the State agency’s or political subdivision’s response to a demonstration if, in connection with the demonstration, the person is convicted of a felony or misdemeanor offense.”

In other words, they could be on the hook for costs, such as police overtime, medical or emergency response, or other basic public services associated with protests. Whatever felony or misdemeanor offense the protester was convicted of would come with its own independent penalty.

Webmaster's Commentary: 

This will have an horrifically chilling free speech, protected by the Bill of Rights and Constitution, and would also have a chilling effect on peaceful protestors who just want to make their voices heard, creating no violence whatsoever, which is probably precisely the design intention of the author of this bill.

It very much reminds me of the brilliantly dystopian quote from Orwell's 2984: “The past was erased, the erasure was forgotten, the lie became the truth.”

IF this kind of behaviour is asserted at the State and Federal levels, we will reach a point in this country, where the Constitution and Bill of Rights will be thoroughly eviscerated, and no longer exist as protections against a government which does not serve We the People, but only serves Those the Corporations; we have become irrelevant to our alleged representatives in State and Federal Government.

To those with skills and kids, get the hell out of this country right now; it is morphing into a dictatorship will all the techno bells and whistles to guarantee that you are thoroughly surveilled, 24/7, and you won't understand the ramifications of that surveillance until it is far too late.

Aug 25 12:30

Ronald Bernard, Dutch Banker Who Exposed Illuminati, Found Dead

Deputies pinged his cell phone but it kept showing different locations and Bernard called back several times — he said his life was in danger — but he kept moving despite being told to stay put, deputies said. The last contact dispatchers had with the former banker was at 6:13 p.m.

Aug 25 11:08

Has The Fed Completely Lost Control

Aug 25 11:01

Yellen’s speech in Jackson Hole may doom her chances for second term at Fed

Was Fed Chairwoman Janet Yellen’s Friday speech in Jackson Hole her swan song?

Some Fed watchers think that might turn out to be the case.

Yellen used her high-profile podium to give a robust defense of the regulations put in place under the Obama administration in the aftermath of the financial crisis. She disagreed with the position of President Donald Trump and Congressional Republicans that the regulatory burden is strangling lending and has hamstrung the economy.

Aug 25 10:43

Gold Fever: Bild Issues 'Semi-Fake News' on Return of Precious Ingots to Germany

The newspaper Bild has deliberately misled the public by publishing fake news about the early return of Germany's gold reserves, finance expert Peter Boehringer told Sputnik.

Boehringer, who is also a Germany gold repatriation activist, referred to Bild's article titled "The gold is finally in Germany. Bundesbank brings German gold reserves from abroad three years earlier than planned."

He said that "this is semi-fake news" as only fifty percent of Germany's gold reserves were returned. Given the sluggish schedule Bundesbank has set itself, this is hard to label a success, according to him.

Aug 25 10:43

HERE'S HOW MANY AMERICANS ARE LIVING PAYCHECK TO PAYCHECK (HINT: IT'S A LOT)

Is your family forced to count down the days each month until the next paycheck arrives? If so, you're part of a staggering, and growing, majority of households in America, the richest country on the planet, that is forced to do the same.

According to a new poll conducted by Harris Poll on behalf of CareerBuilder, over three-quarters of American households are forced to live paycheck to paycheck to make ends meet.

The survey highlights a troubling trend in household finances: More than eight years since the end of the recession, the share of Americans who are living on the financial edge is growing, said Mike Erwin, a spokesman for CareerBuilder. While some may want to blame Americans' spendthrift ways, Erwin pointed to two trends that continue to put financial stress on households: stagnant wages and the rising cost of everything from education to many consumer goods.

Aug 25 10:41

Jim Willie: Dead Petro-Dollar – New Eastern Energy Cartel: Replacement to the Dead Petro-Dollar

The Petro-Dollar is dead. It had served so well for over 40 years in maintaining the USDollar as global currency reserve, while keeping tight the controls on geopolitical power. The link between crude oil and the USDollar has been broken, painfully evident since 2016 with a harsh price decline that cannot rise about the $50 level. It remains stuck below that level despite heavy collusion in a demonstration that OPEC is dead defunct also. A void has been created in the energy sector, a most important sector. Enter Russia & China to fill the void. Both the crude oil market and the natural gas market have new alliances which feature nations acting in a cooperative manner. The common element is Russia on the production side, complete with pipeline arrays. The common other element is China on the demand side with large customer needs and financial influence. This article describes the two emerging organizations, which the Jackass calls the Oil Consortium and the NatGas Cartel.

Aug 25 10:34

Macron's Europe ULTIMATUM: French president ORDERS EU to support his reforms… or CRUMBLE

EMMANUEL Macron has risked falling out with his European allies after sensationally claiming the EU risks collapse unless the bloc’s cheap labour rule is overhauled.

Aug 25 10:31

This Unethical Isle: 5 terrible things Britain exports to the world

From leaded petrol that causes brain damage, to weapons used in the war on Yemen and weed killer linked to Parkinson’s disease, Britain is openly exporting unethical goods and services to some of the world’s poorest and most abusive nations.

RT UK takes a look at some of Britain’s most questionable wares.

Aug 25 10:10

RUSSIA UNVEILS ‘INVISIBLE’ SUPERSONIC FIGHTER JETS HARD TO TRACK ON ENEMY RADARS

Officially revealing the fifth generation of Sukhoi-57 supersonic stealth fighter aircraft, Russia has made a statement that it is in the game of stealth warfare. The Sukhoi-57 is designed to compete with the American F-22 Raptor and the Chinese Shenyang J-31 Falcon Hawk, claimed the official statement from the Russian Ministry of Defence.

“T-50 was created for qualitative superiority over predecessors, opponents and competitors,” says MIA’s Alexander Khrolenko. “This is the answer to the US aircraft of the fifth generation F-22 Raptor and F-35 Lightning II.”

Webmaster's Commentary: 

This fighter jet looks pretty capable; and in the hands of an experienced pilot, capable of doing some great damage.

With the show Russian WMDs put on in Syria, countries around the world are clamoring for these weapons, as opposed to a lot of what US weaponry manufacturers are creating these days.

And those weapons manufacturers in the US have no one but themselves to blame for this turn of economic events against them.

Aug 24 17:54

Most Americans live paycheck to paycheck

No matter how much you earn, getting by is still a struggle for most people these days.

Aug 24 17:38

Uber Wants You to Know it’s Not Collapsing

Aug 24 17:28

As First NAFTA Round Opens in Secrecy, Digital Rights Groups Fear Another TPP

he opening round of a series of negotiations over a proposed revised North American Free Trade Agreement (NAFTA) began this week in Washington, D.C. between trade representatives from the United States, Canada, and Mexico. Already it is clear that the office of the U.S. Trade Representative (USTR) has ignored our specific recommendations (to say nothing of USTR Robert Lighthizer’s personal promises) about making the negotiations more open and transparent. Once again, following the failed model of the Trans-Pacific Partnership (TPP), the USTR will be keeping the negotiating texts secret, and in an actual regression from the TPP will be holding no public stakeholder events alongside the first round. This may or may not set a precedent for future rounds, that will rotate between the three countries every few weeks thereafter, with a scheduled end date of mid-2018.

Aug 24 16:14

A Sinister War On our right to hold cash.

An operation that began as a seemingly obscure academic discussion three years ago is now becoming a full-blown propaganda campaign by some of the most powerful institutions in the industrialized world. This is what rightly should be termed the War on Cash. Like the War on Terror, the War on Cancer or the War on Drugs, its true agenda is sinister and opaque. If we are foolish enough to swallow the propaganda for complete elimination of cash in favor of pure digital bank money, we can pretty much kiss our remaining autonomy and privacy goodbye. George Orwell’s 1984 will be here on steroids.

Aug 24 14:48

Forget OPEC, China Controls Oil Prices

Aug 24 14:01

Wall Street Banks Warn Downturn Is Coming

HSBC Holdings Plc, Citigroup Inc. and Morgan Stanley see mounting evidence that global markets are in the last stage of their rallies before a downturn in the business cycle.

Aug 24 13:57

22 Retailers Closing the Most Stores

Aug 24 11:42

Have We Seen the Peak in Housing and Autos?

Aug 24 08:14

China demands U.S. immediately withdraw N. Korea sanctions, warns they will damage ties

China demanded Wednesday that the United States immediately withdraw new sanctions on companies and individuals trading with North Korea, saying that such punitive measures will damage Sino-U.S. ties.

The Treasury Department imposed sanctions Tuesday on 10 companies and six people from China and Russia that it said had conducted business with North Korea in ways that advanced the country’s missile and nuclear weapons program.

Aug 24 08:08

Germany shifts 50,000 gold bars overseas back to Frankfurt amid Eurozone collapse fears

The Bundesbank today announced it has shipped the last of the gold it had been storing at France's central bank, Banque de France.

The lot of 53,780 bars, each weighing 27.5lbs, will now be kept in vaults beneath the bank's Frankfurt headquarters.

Should Germany face an economic emergency, the precious metal can be converted into pounds or dollars.

Aug 24 06:50

Did The Economy Just Stumble Off A Cliff?

The signs are everywhere for those willing to look: something has changed beneath the surface of complacent faith in permanent growth.

Aug 23 17:42

Nice Stock Bounce, But…

Aug 23 16:57

Banks Earn Record Profits in Q2, Savers Sacrificed: FDIC

$9 trillion in deposits go a long way.

Aug 23 16:46

Apple Asks Users To Fund Far-Left SPLC Even Though They Have $320m In Assets

Apple iTunes users are being asked to fund the far-left Southern Poverty Law Center in order to "fight hate" even though they have around $320 million in assets.

Apple CEO Tim Cook donated $1 million to the SPLC as well as another $1 million to the Anti-Defamation League in the wake of Charlottesville. He's told employees their donations to the two far-left groups will be matched and has even begun asking users of iTunes to pony up cash of their own to fund the SPLC.

Aug 23 15:34

A Peak Above All Others

Aug 23 13:03

REPORT: 19 things millennials are killing

Aug 23 11:58

ExxonMobil, Kochs, Israel Pushing Washington to Partition Iraq and Syria

The currently stateless Kurds sit astride the Iraq-Syria border on land blessed/cursed with oil, other resources, and geopolitical significance. Is it any wonder that mega-corporations and their client states are looking to use the Kurds, stoke conflict, and exploit the situation?

Years before the U.S. illegally invaded and then occupied Iraq, plans were circulating within the Pentagon to partition the country along “sectarian” lines, with the express purpose of allowing the U.S. and its regional allies to better control oil resource production and movement within the Middle East.

In Syria, the same narrative of partition has more recently been circulated as the “only” solution to the nation’s sectarian divisions, divisions which did not emerge until they were artificially created in 2011 when the current conflict began and later fomented by hostile foreign actors.

Webmaster's Commentary: 

So it's the old "invade, divide, and conquer" routine, ordered by Trump's corporate masters, which he seems to be fulfilling now, in Syria and Iraq.

Aug 23 10:35

'Psychologically scarred' millennials are killing countless industries from napkins to Applebee's — here are the businesses they like the least

Brands such as Buffalo Wild Wings, Ruby Tuesday, and Applebee's have faced sales slumps and dozens of restaurant closings as casual-dining chains have struggled to attract customers and increase sales.

In August, Applebee's announced it would close up to 135 restaurants, in part because it focused too much on winning over millennials and forgot its "Middle America roots."

"Millennial consumers are more attracted than their elders to cooking at home, ordering delivery from restaurants, and eating quickly, in fast-casual or quick-serve restaurants," Buffalo Wild Wings CEO Sally Smith wrote in a letter to shareholders earlier this year.

Aug 23 10:33

It Begins, China Pulls West Investment Dollars & Redirects It East

US workers wages collapse, people will now accept less for work.  

Aug 23 09:46

Moscow 'preparing inevitable response' as US hits Russians with new sanctions over N. Korea

Moscow has fired back at the latest round of US sanctions targeting Russian interests, as Washington blacklisted one Russian company and four individuals for their alleged dealings with North Korea.

On Tuesday, the US Treasury revealed it had imposed sanctions on 16 Russian and Chinese nationals and companies for their alleged dealings with North Korea. The Treasury claims the sanctions are in line with the internationally agreed measures against North Korea’s missile and nuclear weapons programs. The companies are accused of working with blacklisted individuals, helping develop the North Korean energy sector, help it place workers abroad or move money from abroad. As a result, their US assets are frozen and Americans are forbidden from doing business with them.

Aug 23 09:27

Plaza Hotel, Once Trump's Crown Jewel, Is Again For Sale

Here’s some news that might interest the President.

The Indian owners of the Plaza Hotel have hired a broker to sell the New York City landmark, according to the Wall Street Journal. The step is “a sign that a world-wide scramble among investors, celebrities and governments to acquire the property could be nearing an end.”

Perhaps more than any other property (Trump Tower included), the Plaza Hotel is emblematic of Donald Trump’s meteoric rise in the world of New York City real estate. The hotel had for years been an object of fascination for Trump, who reportedly jumped at the opportunity to buy it from Texas billionaire Robert Bass in 1988. According to the New York Times, Trump paid $400 million for the hotel, an unprecedented sum for a hotel at the time.

Aug 23 08:37

There's A New Subprime Crisis, But It's Not What You Think

A decade on from the financial crisis, the reports today about the sub-prime lender Provident Financial have given us a nasty case of déjà vu.

Within the space of a year, its loan repayment rates have fallen from 90 per cent to 57 per cent – leading to profit warnings, the departure of its chief executive, and a collapse in its share price.

It feels like a frighteningly familiar story. Overstretched customers at the bottom of the economic food chain rack up unaffordable loans from greedy financiers. When the music stops, the credit failures cascade upwards, bringing down lender after lender until the whole financial edifice comes apart.

Aug 23 07:44

Provident Financial plunges 800,000 families into financial alarm as shares plummet

The blue-chip FTSE 100 listed company saw £1.7 billion wiped off its value after being hit by several body blows.

It is believed to be the biggest one-day stock price fall for a firm listed on the FTSE 100 index.

The company, which focuses its core business on lending to people who are struggling financially, was forced to issue its second profit warning in three months.

It is preparing to lose up to £120million this year in its door-to-door loan division, affecting around 800,000 customers, the company said.

Shares in the company crashed by a huge 66 per cent yesterday, from £17 to 589.5p, wiping almost £1.7billion from its stock market value.

Aug 23 07:02

Here’s how the next recession begins

In other words, the economy is overdue for a recession.

And the rapid loss of hundreds of thousands of jobs could certainly end up triggering it.

Aug 23 06:47

Technically Speaking: BTFD Or Is This Time Different?

Since the end of the financial crisis, each market decline has been met with support by the Federal Reserve either through “verbal accommodation” or directly through “monetary interventions.”

Aug 22 15:53

Britain's budget in SURPLUS for the first time in 15 YEARS with £200m boost

BRITAIN received more money in taxes and other income than it spent in July, putting the national finances in surplus for the first time since 2002, in a huge economic boost ahead of Brexit.

Amid a surge in income from self-assessed tax payments, the state was up by £0.2billion last month, according to the Office for National Statistics.

Borrowing tends to be lower in July than other months, due to the timing of income tax payments.

But it has been 15 years since the Government received enough income to fund its spending commitments without having to borrow.

Aug 22 15:47

UK condemned over 'shocking' export of deadly weedkiller to poorer countries

A highly toxic weedkiller not authorised for use in the EU is being exported to developing countries from a UK factory. Paraquat, a pesticide so lethal that a single sip can be fatal, has caused thousands of accidental deaths and suicides globally, and was outlawed by EU states in 2007.

Aug 22 14:58

A Furious China Responds To Latest Sanctions: Demands "U.S. Immediately Correct Its Mistake" Or Suffer Retaliation

Less than 4 hours ago, the US Treasury announced that in the the latest set of actions targeting North Korea's "WMD program", among the entities sanctioned would be several Chinese and Russian companies and individuals. We said that "what this latest round of sanctions will achieve, is to further anger Beijing and the local population." Well, we didn't even have to wait all day for China to respond on the next morning as it traditionally does, and according to Reuters citing an embassy spokesman, Beijing was so furious with the US "provocation" it scrapped its own protocol of waiting during a "cooldown" period, and instead ripped right back, "urging" the U.S. to "immediately correct its mistake"' of sanctioning Chinese firms over North Korea, to avoid impact on bilateral cooperation.

Aug 22 11:23

Russia pays last Soviet debt

Payment of $152 million to Bosnia clears all outstanding Soviet debt

Aug 22 10:38

The Myth That Bill Clinton Ever Balanced The Federal Budget. The National Debt Hasn't Gone Down Since 1957.

In recent years, there's become a myth that Bill Clinton balanced the budget. While he may have come close , the facts are the budget hasn't been balanced a single year since 1957. This is the best indictment of Keynesian economics and the myth that politicians will do the right thing. Hiding the cost of wars , S&L bailouts, and other "off budget items" has been hiding the problem of government spending from the public. It also helps to have economically ignorant journalists .

Aug 22 10:27

Germany, France and Italy plot EU power to BLOCK 'politically motivated' Chinese takeovers

BRUSSELS should be given powers to rule on whether or not Chinese takeovers of major European companies are motivated by political rather than economic goals, a major report says today.

Aug 22 10:26

'Bad choice' Macron's popularity plummets as he scrambles to please EU on France's deficit

EMMANUEL Macron’s popularity rating has plummeted to one of the lowest on record for a new French president as he struggles to force through unpopular policies designed to placate EU beancounters.

Aug 22 10:26

Merkel's nightmare! United States set to decimate German car industry after Trump threats

ANGELA MERKEL is facing her worst nightmare as Germany’s behemoth motor industry is under threat from United States-based Tesla.

Aug 22 10:23

Treasury Slaps Sanctions On China, Russia Entities And Individuals Over North Korea

In a move that is certain to infuriate China further and result in another deterioration in diplomatic relations between Washington and Beijing, moments ago the United States slapped both Chinese and Russian entities and individuals with new sanctions in the Trump administration's escalating attempts to pressure North Korea to relent and stop its nuclear program and occasional missile launches.

The Treasury Department's Office of Foreign Assets Control said it would target 10 entities and six individuals who help already sanctioned people who aid North Korea's missile program or "deal in the North Korean energy trade." The U.S. also aims to sanction people and groups that allow North Korean entities to access the U.S. financial system or helps its exportation of workers, according to the Treasury:

Webmaster's Commentary: 

It is deeply disturbing how quickly financial sanctions become preludes to wars against those countries which have been sanctioned.

Aug 22 10:22

Mnuchin: I Assume Fort Knox Gold Is Still There

US Treasury Secretary ‘assumes’ the gold is still in Fort Knox, 64 years after it was audited.

81 years after it was built Fort Knox received its third visit from a US Treasury Secretary yesterday, Steven Mnuchin.

The fortified facility is reportedly surrounded by 30,000 soldiers, tanks, armored personnel carriers, attack helicopters, and artillery. Despite this, there is still concern as to whether the gold is there.

As he headed in, Mnuchin told an audience “I assume the gold is still there…It would really be quite a movie if we walked in and there was no gold.”

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