ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 06 06:44

A Pin For These ""Markets""?

Dec 06 03:53

Europe unveils plan to reduce dollar hegemony in global trade

The European Commission on Wednesday unveiled its roadmap on expanding the euro’s global role, RBC writes. Brussels seeks to make the European currency more attractive in international accounts and in the global financial system, expand the use of the single currency on the oil and gas markets and in strategic industries. The program documents do not directly talk about plans to break the dollar’s global hegemony, but this is implied, the paper says. The European economy is compared to the US in scale, but the euro still takes a back seat. The Eurozone’s annual GDP per capita purchasing power parity in 2017 stood at $14.9 trillion, while that figure in the US was $19.4 trillion, according to the World Bank, but the dollar plays a more significant role. Meanwhile, Trump’s eccentric policy, including import duties levied on European goods and unilateral sanctions against EU trading partners, forces Europe to think about its own economic sovereignty.

Dec 05 19:06

French Citizens Want Cheaper Energy, not Global Warming Elitism

Op-Ed by David Unsworth

Diesel moves France. Whereas in the United States diesel is increasingly a rarity used mainly to fuel heavy trucks, drivers in France and much of Europe have diesel cars. In past generations, diesel was believed to be more environmentally friendly. Today, it turns out that is not the case. Diesel is actually far worse for the environment than traditional gasoline.

This weekend, anger over a 6 percent increase on diesel taxes led to the largest and most violent protests France has seen since the 1960s. The “gilets jaunes” (or yellow vests in English) are so named because they don reflective bright yellow-colored vests that all French motorists are required to have in their vehicles when they take to the streets...

Dec 05 17:17

MASSIVE Futures Dump...Tomorrow Could Be Ugly

Dec 05 12:06

Ron Paul Says Trump’s New Trade Treaty that Replaces NAFTA Actually Increases Government Control

Ron Paul analyzed Trump’s new treaty, the United States-Mexico-Canada Agreement (USMCA) that replaces the North American Free Trade Agreement (NAFTA), and found that the USMCA expands government control over trade. For example, it requires 75% of car parts to be made in North America, which will raise car prices on those using materials outside of North America, it requires auto workers to earn at least $16 per hour, which will increase prices, and it forces Mexico to import US-style compulsory unionism. The new USMCA entangles all three countries in environmental standards and monetary policy. A true free trade deal would simply reduce or eliminate tariffs and other trade barriers. It would not dictate wages and labor standards, or require inter-governmental cooperation on environmental standards and monetary policy.

Dec 05 12:00

Democrat Rep. Pramila Jayapal: CEOs Must Get ‘Millions’ of Cheap Visa-Workers

Indian-born Democratic Rep. Pramila Jayapal says the U.S. economy needs millions of wage-cutting visa workers for good jobs sought by many Americans and immigrants.

The editors of the New York Review of Books published Jayapal’s corporatist demand for more visa workers on December 3 under the headline: “A New Moral Imagination on Immigration.” She wrote:

The number of visas for nonagricultural workers (such as construction workers, housekeepers, or forest workers) is stuck at the 1990 level of 66,000 visas—even though our economy requires millions.

Dec 05 11:59

California property developer rejects two offers on her $1 million apartment to house families who lost everything in last month's killer wildfires which destroyed thousands of homes across the state

California property developer rejects two offers on her $1 million apartment to house families who lost everything in last month's killer wildfires which destroyed thousands of homes across the state.

Caryn Kramer, owner of Blue Wave solutions, had two offers in for the home
But she has put a deal on hold to house victims of the wildfires free of charge

Kramer said housing a family 'means more' than securing a sale in the long run.

Webmaster's Commentary: 

God bless this lady, for truly doing the right thing, even ahead of making money from this property.

Dec 05 11:53

Turkey's Economy Is A House of Cards - Consumer Debt Crisis Emerges

Turkey's soaring inflation, plunging currency, surging interest rates, and a collapsing stock market, has ended almost two decades of stable economic growth and the "good life" for Turkish consumers that started in 2001. Now, the greatest threat facing Turkey is a structural one: its desperate need for foreign financial resources.

A stable economic environment combined with easy access to global liquidity provided Turkey with abundant foreign resources.

The decade of expansionist monetary policies of the Federal Reserve and the European Central Bank enabled countries like Turkey to obtain cheap foreign resources and endowed Turkey with a rate of about 5% stable growth.

From 2003-2008, Turkey registered an annual growth of 5.9%. From 2009-2017, the rate of growth was 4.9% per year.

However, after 2014, there were signs the stable growth party was coming to an end. External expansionist policies were nearing an end and interest rate hike cycle was imminent.

Dec 05 11:40

Qatar's OPEC Exit May Just Be The Beginning

Authored by Tim Daiss via OilPrice.com,

Much has already been written over the last 24 hours by pundits and analysts alike about Qatar’s decision to leave the Organization of the Oil Exporting Countries (OPEC) by January next year. Some have chimed in, claiming that it’s an irrational move, while others have, perhaps correctly, attributed it to “toxic politics” in the always volatile Middle East. The latter view has much credibility given Qatar’s ongoing geopolitical rift with many of its Arab neighbors over allegations of financing terrorist groups, which led to a regional economic boycott of the country last year.

Dec 05 11:38

"We'll Do It Too": Putin Threatens Arms Race If US Nixes Nuclear Treaty

Russian President Vladimir Putin said on Wednesday that the Kremlin would "respond appropriately" if the United States pulls out of the Cold War-era nuclear weapons treaty that prohibits intermediate and shorter-range nuclear missiles, according to the WSJ .

In October, President Trump said that Washington would withdraw from the 1987 treaty, citing Russia's development of the 9M729 cruise missile - which Moscow has been working on for several years. As we noted in September, Russia has been working on sub-launched hypersonic missiles capable of carrying a nuclear payload.

Webmaster's Commentary: 

And Trump's incontrovertible proof that this has actually happened.... is utterly nowhere to be seen.

Threats, allegations, demonization, and sanctions are generally the prelude to a war. And how the dickens can one blame Putin for making this statement, considering how badly the US government has blamed it countless times for things it utterly did not do, say the alleged "annexing" of Crimea.

Dec 05 11:31

"2018 Is Starting To Look Historic": This Is The Worst Market Since Nixon's Presidency

Usually the excuse "nothing is working" is used by finance professionals when begging clients not to pull their money, desperate to explain woeful performance and when there are no other explanations left. Only in 2018, that excuse is actually spot on.

After another abysmal day for stocks, in which stocks suddenly "waterfalled" due to coordinated CTA liquidations once the S&P500 breached its 200DMA, which saw both the S&P and the Dow turn to just positive for the year, the broader market suffered one of its worst, if relatively muted, sessions in the past three years.

As a result, market statisticians continue to fall over each other to describe the pain being felt across asset classes. And while it is customary to use the phrase "since Lehman" when in need of a blanket synonym for "dreadful", one analyst framed performance in 2018 differently: things haven’t been this bad since Richard Nixon’s presidency.

Webmaster's Commentary: 

It is not a question of "if" the markets will tank, completely, but when.

Dec 05 11:29

Ron Paul Trashes Trump Foreign Policy: Doing The Same Thing And Expecting Different Results

After a week of insisting that a meeting with Putin on the sidelines of the G20 meeting in Argentina was going to happen, President Trump at the last minute sent out a Tweet explaining that due to a Russia/Ukraine dispute in the Sea of Azov he would no longer be willing to meet his Russian counterpart.

According to Trump, the meeting had to be cancelled because the Russians seized three Ukrainian naval vessels in Russian waters that refused to follow instructions from the Russian military. But as Pat Buchanan wrote in a recent column: how is this little dispute thousands of miles away any of our business?

Webmaster's Commentary: 

This is only being done in a runup to more demonizing of Russia and Putin; in looking at the way things are flowing now, due to Trump's short-sightedness, we may well see Americans (with the Ukrainians) in a war against Russia, which could include China on Russia's side.

I would strongly advise "caution" to President Trump on this; at this point, the US military does not have the money; the manufacturing; the troop strength, or the weaponry to take Russia (and/or China) head on in a military conflict.

Dec 05 11:15

“2018 Is Starting To Look Historic”: This Is The Worst Market Since Nixon’s Presidency

Usually the excuse "nothing is working" is used by finance professionals when begging clients not to pull their money, desperate to explain woeful performance and when there are no other explanations left. Only in 2018, that excuse is actually spot on.

Dec 05 11:12

Gold Is “Coiled” and Looks Set To Surge Like Natural Gas — Bloomberg Intelligence

Metals should be primary beneficiaries of an imminent greenback peak, with normalization in U.S. stock-market out performance, Federal Reserve tightening near a finish and the trade-weighted broad dollar approaching multiyear highs.

Though the dollar tops the list of this year’s best performing major assets, gold and copper show divergent strength. Industrial metals appear to be at a discount in a bull market with favorable demand vs. supply conditions.

Indications from precious metals, notably gold, offer a setup that’s similar to natural gas before its big rally.

Bound to historically compressed trading ranges with many typical pressure factors nearing multiyear extremes, precious metals appear close to a maximum loss of faith vs. the strong stock market and greenback.

Dec 05 10:28

Lenin Would Be So Proud

Several years ago back in 2004-2006, if you had a pulse, you could borrow money from a bank to buy a house.

In fact, bank lending standards were so loose back then that there were some infamous cases of people who DIDN’T have a pulse who were still able to borrow money.

That’s right. Some banks were so irresponsible that they actually loaned money to dead people.

Of course, it turned out that lending money to dead people… or people with terrible credit who had a history of default, was a bad idea.

And the entire financial system almost blew up as a result of this reckless stupidity.

But then something even crazier happened: the Federal Reserve came in and bailed out all the banks with trillions of dollars of free money.

That was utterly nuts. Instead of being wiped out by their idiotic mistakes, the banks learned that they would always be bailed out no matter how stupid or greedy they acted.

Dec 05 10:27

US tries to stop Ireland banning imports from Israel’s settlements

A prominent US politician has lobbied Irish lawmakers to reject a proposed ban on imports from Israel’s illegal settlements.

Peter King, a member of Congress for New York, is among those who have opposed a bill being debated in Dublin.

Although the bill – aimed at forbidding goods from Israel’s settlements in the occupied West Bank – seeks to uphold international law, King has depicted it as subversive.

King has tried to convince Fianna Fáil, one of Ireland’s largest parties, to withdraw its support for the proposed ban.

Dec 05 10:22

Another Day Older and Deeper In Debt

Official US national debt exceeds $21 trillion. National debt increases over $3 billion per day.

Another day older and $3 billion deeper in debt!

The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually) drives up interest rates, which requires more borrowing to pay the annual interest payments. Another year older and deeper in debt! A reset will occur when the debt load becomes too heavy.

Dec 05 09:26

Cryptocurrencies and the Denationalization of Money

By William J. Luther, Lawrence H. White

In a 1976 book titled The Denationalisation of Money, Nobel Prize–winning economist F.A. Hayek put forward a novel proposal for private monies. The monies Hayek had in mind were not like the privately issued banknotes of the past, which the holders could take to the issuing banks and redeem for gold or silver coins. Instead, his plan called for irredeemable monies. In many ways, Hayek’s proposed market resembles the market for cryptocurrencies that has emerged over the last decade...

Dec 05 07:51

Tariffs, Congress

Dec 05 07:33

General Motors is proof to the world that slashing wages isn't the ticket to profitability

(*slashing our dependence on The Federal Reserve could possibly be more profitable , for workers , then Assuming The Position , for their Capitalist/Corporatist Bosses )

Dec 05 05:53

US stocks plunge on details of Trump-Xi trade-war meeting

US stocks plunge as details of Donald Trump-Xi Jinping meeting fail to assuage investors on trade war

US stock markets plummeted on Tuesday as results of a weekend meeting between President Donald Trump and Chinese President Xi Jinping failed to convince investors that the trade war ceasefire was a true reprieve and as a key recession indicator kicked in.

The losses on Wall Street accelerated after investors dissected the nuances of the talks on Saturday in Buenos Aires announced by the Trump administration and China, reflecting worries that the initial read on a potential trade deal was overly optimistic.

LATEST: China, Hong Kong stocks fall after bloodbath in US markets>>>

Dec 04 18:51

Silver at its most affordable in years

Dec 04 16:50

Feminism Was Created by the US Communist Party

Communists pioneered the political and cultural analysis of woman's oppression. They originated "women's studies," and advocated public daycare, birth control, abortion and even children's rights. They forged key feminist concepts such as "the personal is the political" and techniques such as "consciousness raising."

Dec 04 16:48

Gloria Steinem - How The CIA Used Feminism To Destabilize Society

"In the 1960´s, the elite media invented second-wave feminism as part of the elite agenda to dismantle civilization and create a New World Order."

Since writing these words last week, I have discovered that before she became a feminist leader, Gloria Steinem worked for the CIA spying on Marxist students in Europe and disrupting their meetings. She became a media darling due to her CIA connections. MS Magazine, which she edited for many years was indirectly funded by the CIA.

Steinem has tried to suppress this information, unearthed in the 1970´s by a radical feminist group called "Red Stockings." In 1979, Steinem and her powerful CIA-connected friends, Katharine Graham of the Washington Post and Ford Foundation President Franklin Thomas prevented Random House from publishing it in "Feminist Revolution." Nevertheless the story appeared in the "Village Voice" on May 21, 1979.

Dec 04 16:46

Feminism Was Created To Destabilize Society, Tax Women and set up the NWO - Aaron Russo

Quote:
Hollywood producer, filmmaker, activist and truth seeker Aaron Russo reveals some of the REAL reasons for feminism which was funded and pushed by the Rockefellers and the CIA for very nefarious reasons, which includes being part of their central banking worldwide takeover to help set up the New World Order

Dec 04 16:44

How Rockefeller Created Feminism And Enslaved Humanity

In 50 short years since Rockefeller lobbed the feminism grenade into every American household, many women have lost touch with their natural loving instincts. Consequently, the family is in disarray, sexual depravity is rampant and birth rates have plummeted.

A woman makes this supreme sacrifice to only one man who will cherish her and provide for his family. Men instinctively want to fulfill this responsibility. This is the essence of the heterosexual contract (i.e. marriage): female power in exchange for male power expressed as love. Sex is the symbol of this exclusive bond. Marriage and family may not be for everyone but it is the natural path for most.

Feminism has trained women to reject this model as “an old fashioned, oppressive stereotype” even though it reflects their natural instincts.

Dec 04 16:32

Apple shares fall after HSBC downgrade: 'Facing the reality of market saturation'

HSBC downgraded Apple to hold from buy and cut its 12-month price target to $200 from $205. Apple shares fell 1.7 percent to $181.66 shortly after the opening bell Tuesday, adding to an 18 percent decline already for this quarter.

Dec 04 15:25

The Psychological Bubble That Has Been Propping Up The U.S. Economy Is Starting To Implode

We witnessed this in the stock market in recent years when people just kept buying stocks even though they were massively overvalued. The collective belief that there was money to be made in the stock market became a self-fulfilling prophecy which pushed stock prices up to absurd heights. But now that process is beginning to reverse as well, and ultimately the unwinding of that bubble will be quite painful.

Dec 04 11:46

Democrats Agree to Two-Week Stopgap Funding Bill

Democrat congressional leaders have reportedly agreed to a two-week funding bill to avoid a government shutdown this Friday.

President Trump was previously threatening to withhold his support for a funding bill that doesn’t include at least $5 billion for his border wall along the U.S.-Mexico border. However, that request has been put on hold due to the recent death of former President George H.W. Bush, whose funeral and attendant mourning ceremonies will occur this week.

Dec 04 11:22

THE STOCK MARKET WILL CRASH!

Dec 04 11:19

"$35M Disappeared": New Jersey Officials Gambled With Public Funds On Failed Baseball Stadium

Camden's abandoned baseball stadium, once celebrated by local officials as a new beginning for the city's waterfront, will soon be demolished and replaced with three Rutgers University athletic fields.

Here is the problem: the Camden County Improvement Authority approved a $1 million contract this month to demolish the 17-year-old stadium after $21 million in taxpayers dollars built the structure for an independent minor league baseball team as hopes it would draw economic development to the area.

Dec 04 11:13

Yuan the Conqueror: Chinese currency poised to become global heavyweight, economists say

The global importance of the Chinese yuan seems destined to rise, according to strategists and economists who say flows in the currency will grow over the long term if Beijing continues to gradually open its financial system.

The yuan will become more globally important as China further allows foreign capital into the country through selective financial opening and pursues its Belt and Road Initiative trade, said Chi Lo, senior economist for Greater China at BNP Paribas Asset Management in Hong Kong.

Dec 04 10:51

What Really Happened On Saturday? China Censors US Embassy's WeChat Posts On Trade War Truce

After a weekend in which the Trump administration, to much fanfare, announced a breakthrough in the trade war with China according to which Beijing would purchase substantial amounts of US farm products and remove barriers to trade in exchange for a delay of new tariffs and higher tariff rates, Donald Trump left his top advisers scrambling on Monday to explain just what was in the trade deal he claimed he’d struck with China to reduce tariffs on U.S. cars exported to the country - an agreement that doesn’t exist on paper and hasn’t been confirmed in Beijing.

Dec 04 10:42

DHS Opposes GOP’s Stealth Bill to Outsource College Graduate Jobs

Republican leaders are expected to drop a political stinker on President Donald Trump by mid-December: a donor-backed amendment that would allow investors to import more college-graduates from India to take jobs now held by American college graduates.

The GOP-run amendment puts 300,000 imported Indian temporary workers and 300,000 of their family members on a fast-track to green-cards, Americans’ jobs, citizenship, and the ballot box — but it provides no benefits to middle-class Americans.

The GOP amendment would provide Democratic-leaning donors with more imported white-collar workers, more temporary workers, more profits, and higher stock values — but it provides nothing to help the GOP win the 2020 election.

Yet the little-known amendment “is very much alive,” a source told Breitbart News.

Dec 04 10:31

Wells Fargo computer glitch blamed as HUNDREDS lose their homes and the bank offers an apology - but no real explanation

Wells Fargo has revealed a computer glitch is behind an error that led to more than 500 customers losing their homes.

Last month the bank announced that an underwriting error had caused it to incorrectly reject some 870 home loan modifications, resulting in the bank foreclosing 545 homes.

The errors have left the banking community, legislators and, of course, the affected homeowners asking how this happened.

Dec 04 09:49

Construction spending, Smart phones

Dec 04 09:34

Iran deploys massive naval force to Persian Gulf after Rouhani threatens to block Strait of Hormuz

BEIRUT, LEBANON (6:00 P.M.) – The Islamic Republic of Iran has allegedly deployed a massive naval contingent to the Persian Gulf, today, after the nation’s president, Hassan Rouhani, threatened to block the vital Strait of Hormuz.

Dec 04 09:21

The Real Significance of the French Tax Revolt

By Peter C. Earle

The gilets jaunes (Yellow Jacket) anti-tax riots in France escalated over the past weekend, again citing the impact of higher taxes on fossil fuels – and high levels of taxation in general – on everyday life. French citizens, already subject to the highest taxes in the OECD, are being crushed by both new and systematically increasing taxes, and have taken to the streets by the hundreds of thousands in a “citizen’s revolution”. Recommendations to declare a state of emergency have for the time being been tabled.

With no sense of irony whatsoever, in a press conference on Saturday French President Emmanuel Macron stated: “I will never accept violence.”

Yet violence is the core component of his chosen vocation as a statesman...

Dec 04 04:55

Misdiagnosing The Risk Of Margin Debt

Dec 03 19:53

Ford to Cut Another 25,000 Jobs?

Dec 03 16:59

Robot Janitors Are Coming to Walmart…

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