ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Mar 06 10:24

Don Young Suggests Wolves Could Help Get Rid Of Homeless People

Rep. Don Young (R-Alaska) suggested Thursday that the solution to homelessness is wolves.

Young made the comment during a House Natural Resources Committee hearing during an exchange with Interior Secretary Sally Jewell. He was arguing that gray wolves should be taken off the endangered species list, criticizing the National Park Service and his congressional colleagues who seek to protect the animals.

“How many of you have got wolves in your district? None. None. Not one," Young said, calling the gray wolf "a predator."

“We've got 79 congressmen sending you a letter, they haven’t got a damn wolf in their whole district,” Young added. “I’d like to introduce them in your district. If I introduced them in your district, you wouldn’t have a homeless problem anymore.

Webmaster's Commentary: 

Has this man gone absolutely barking mad, to have made that statement in a congressional hearing?!?

IF he ever says that he was quoted out of context, and proclaims that this was "only a joke" about homelessness, it is a pretty sick one.

Mar 06 09:07

Here's where to find the world's cheapest gas

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Mar 06 08:22

Did The BLS Once Again Forget To Count The Tens Of Thousands Of Energy Job Losses?

A month ago we asked if the "BLS Forget To Count Thousands Of Energy Job Losses" when as we showed, the BLS reported that only 1,900 jobs were lost in the entire oil and gas extraction space, which was a vast underestimation of what is taking place in reality, when compared to not only corporate layoff announcements, but what Challenger had reported was going on in the shale patch, when it calculated that some 21,300 jobs were lost in January in just the energy sector.

Today we ask again: did the BLS once more forget to add the now tens of thousands of jobs lost in the US energy sector? We ask because the divergence is getting, frankly, ridiculous.

Mar 06 08:13

295,000 more jobs in Feb.

(A lot of Snow Removal hours were logged during the month of February , this year .)

Mar 06 08:09

Bank of England investigated for fraud

Mar 06 07:59

Almost 100 families evicted daily in Spain – statistics

At least 95 families were evicted every day in Spain in 2014, fresh statistics say as Spaniards struggle to meet mortgage payments. Home foreclosures have become a stark symbol of the 7-year economic crisis, with 2014 seeing a further rise in numbers.

Mar 06 07:56

DC Fed wrestles away big-bank oversight from New York

The most feared man on Wall Street is in Washington, DC.

Federal Reserve Board Governor Daniel Tarullo has quietly wrestled control of big bank oversight from the New York Fed.

The move by DC is a clear black eye for the New York Fed, a first among equals when it comes to regional Fed banks and the traditional front line regulator of big banks like Citigroup, Goldman Sachs and JPMorgan Chase.

The consolidation of power in DC also means that New York Fed President Bill Dudley must take a back seat for Tarullo when it comes to regulating the big banks — as happened in Thursday’s announcement of stress-test results.

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Mar 05 16:32

Pound now buys more than €1.38 as ECB's bond-buying plan weakens euro - and sterling 'could reach €1.50 this year'

The euro has fallen to new seven-year lows against the pound and 11-year lows versus the dollar after the European Central Bank said its new government bond-buying programme will kick-off next week and last until at least September 2016.

The ECB's attempt to kickstart the ailing eurozone economy by spending €60billion a month on buying sovereign bonds saw the euro tumble today. Against the dollar it came within a sliver of $1.10 - its lowest since early September 2003.

Against the pound the euro fell to 72.3p, or €1.384 to the pound - a level last seen in December 2008. And analysts suggested the euro has even further to fall and could hit 65p by the end of the year. That would get British holidaymakers €1.50 to the pound - an exchange rate that has not been seen since February 2007.

Mar 05 16:29

The last thing the Grand Canyon needs is a super mall!

Property developers want to build a super-mall smack dab in the middle of one of America's most breath-taking world heritage sites, the Grand Canyon. The mall would include an IMAX, shops, hotels and fast food cafes. The National Park Service has called the plans 'a travesty'.

The ludicrous project is being proposed by property developers Confluence Partners as a way to make more money from the millions of people who want to see one of nature's greatest marvels.

We cannot let big business get away with monetizing our national parks! The company is already facing huge outrage over the plan from many sides. If thousands of SumOfUs members speak out about this monstrosity, it will be forced to back down.

Tell Confluence Partners to keep its hands off the Grand Canyon!

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Mar 05 15:05

China Has Announced Plans for a ‘World Currency’

The Chinese do not plan to live in a world dominated by the U.S. dollar for much longer. Chinese leaders have been calling for the U.S. dollar to be replaced as the primary global reserve currency for a long time, but up until now they have never been very specific about what they would put in place of it. Many have assumed that the Chinese simply wanted some new international currency to be created. But what if that is not what the Chinese had in mind? What if they have always wanted their own currency to become the single most dominant currency on the entire planet? What you are about to see is rather startling, but it shouldn’t be a surprise. When it comes to economics and finance, the Chinese have always been playing chess while the western world has been playing checkers. Sadly, we have gotten to the point where checkmate is on the horizon.

Mar 05 15:02

Washington Strips New York Fed’s Power

The Federal Reserve Bank of New York, once the most feared banking regulator on Wall Street, has lost power in a behind-the-scenes reorganization at the nation’s central bank.

Webmaster's Commentary: 

Presidents get shot at for trying to control the private central banks!!!!!!

Mar 05 14:50

Landlords hit back at Reserve Bank crackdown

Landlords have hit back at Reserve Bank consultation on their sector, threatening to punish tenants by hiking rents if a tougher lending regime is ushered in.

Andrew King, NZ Property Investors Federation executive officer, said a harsher regime could have severe implications for more than 1 million tenants in over 453,000 rental households.

"Unnecessary risk weighting rules around rental properties will likely increase the cost of borrowing and push rental prices higher.

"Rental property loans are actually less risky than many of the loans taken out against homes to fund businesses," Mr King said.

Mar 05 14:49

NZ dollar falls after RBNZ looks to curb residential property investment

The New Zealand dollar fell after the Reserve Bank said it is looking at ways to curb lending to residential property investors, which could pave the way for it to lower interest rates.

The local currency weakened after the central bank said it is looking at ways to tighten rules around lending for residential rental properties to better reflect the risks.

Some traders speculate that further curbs on property market lending could help slow rising house prices, and allow the central bank to reduce interest rates.

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Mar 05 14:24

March 2015: HACK ETF How to Trade Volatility

Mar 05 14:16

Ukraine Bans Gold Transactions Over $125, Currency Derivatives and Interbank Purchases Exceeding $10,000

The national Bank of Ukraine has expanded the list of administrative restrictions for stabilization of the hryvnia, in particular, completely prohibiting the withdrawal of foreign dividends and limiting the purchase of foreign currency on the domestic markets.

Resolution No. 160 is effective from March 4, 2015 and is valid until June 3, 2015.

Previously, prohibitions did not target dividends on securities that are traded on stock exchanges.

The NBU has also introduced limits on the balance of banks' operations on the interbank market at the end of the day and banned financial institutions from using currency derivatives on stock exchanges.

These restrictions apply to customer's accounts over $10,000 as valued by the official rates.

Mar 05 14:02

Water Wars are Coming

Mar 05 13:40

QE Inventor: It’s EASY to Create a Full-Blown Recovery, But Central Banks Chose to Make Banksters Rich Instead of Helping Main Street

Richard Werner (economics professor at University of Southampton) is the inventor of quantitative easing (QE).

Werner previously said that QE has failed to help the economy. (Former long-time Fed chair Alan Greenspan agrees. Numerous academic studies confirm this. And see this.)

But Werner is now taking off the gloves …

Mar 05 13:33

Mainstream Financial Experts Recommend: Take Out A Loan And Invest In Stock Markets

We are very quickly approaching a top in the stock market bubble. Here's all the proof you need.

Mar 05 13:12

Walmart Workers to Earn $10 an Hour; Walmart Heirs "Earn" $445,776 an Hour

Over the last three years, strikes and pickets by Walmart’s low-wage employees have steadily expanded. Last Black Friday, protests were staged at more than 1,000 Walmart stores across the U.S. Dozens of employees were arrested.

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Mar 05 12:04

A customer walked into his pizza shop and changed Philadelphia with $1 and a single Post-it note.

Owner Mason Wartman, who left his Wall Street desk job to open Rosa's Fresh Pizza, says pay-it-forward pizza started with one customer, one dollar, and one Post-it note.

The customer was inspired by an Italian coffee house practice called caffè sospeso (suspended coffee), by which customers can pre-purchase cups of coffee for less fortunate customers. Wartman wrote the purchase on a Post-it and slapped it on the wall behind the register to be redeemed by the next homeless patron to enter the store.

Since that first pay-it-forward slice, Rosa's has provided nearly 10,000 pizza slices to needy Philadelphians.

Mar 05 11:08

ECB ready to start printing money next week

E.C.B. to Begin Bond-Buying Program on Monday

Bond buying is a way for the European Central Bank to effectively print money and inject it into the economy. But confidence in the central bank’s ability to rekindle inflation could suffer if the market is so tight that it is unable to meet its goal of buying €60 billion of debt a month.

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Mar 05 10:18

Global Wealth Inequality - What you never knew you never knew

Mar 05 10:01

ECB Will Cut Rates To Minus 3%: JP Morgan

Should a tail event such a deflationary spiral or Grexit occur, limits on ECB asset purchases will put Mario Draghi at a disadvantage as other central banks race to the bottom. JP Morgan says this will force the ECB to cut interest rates for cash deposits to minus 3% while the dollar will appreciate by 20%, reaching parity with euro in 2015.

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Mar 05 09:47

We are Rome.

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Mar 05 09:20

US tech companies have stashed over $420 billion overseas

It's no secret that the US government wants companies to bring more of their offshore profits back home for the sake of taxes, and it's now exceptionally clear as to why. Bloomberg has sifted through financial filings and discovered that the top eight American tech firms, including Apple, Google and Microsoft, are keeping more than $420 billion overseas -- $69 billion of it added in just the past year. That's over a fifth of the $2.1 trillion held abroad by American companies, and would easily cover a lot of government expenses. A tax on Microsoft's recent profits alone ($29.6 billion) would cover NASA and the Commerce Department for a year; Apple ($23.3 billion) could take care of the Transportation Department and Social Security, and Oracle could foot the bill for the Labor Department.

Mar 05 08:52

Think Like A Bear, Invest Like A Bull

Mar 05 08:24

Mr. Ponzi – Patron Saint

Mr. Ponzi was a charming con-artist who operated about a century ago in the United States and Canada. He enticed investors to contribute new money to his investment scheme (100% return in 90 days), skimmed a portion for his luxurious needs, and used the remaining money to pay off prior investors. The system worked marvelously until it collapsed and people realized that his postal reply coupon investments could not produce the profits that supposedly paid off early investors.

More recent “Ponzi” examples include Bernard Madoff as well as hundreds of others, plus the Alan Harper character in season 8 of “Two and One Half Men.” However Ponzi schemes are not limited to private investments. Governments engage in similar plans and have the advantage of declaring them legal. As with private plans, they work until they collapse, although their government granted legality increases their longevity.

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