ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 27 09:58

Global Earnings Growth Expectations

Jun 27 09:44

Uber Plans To Launch Flying Taxis In 2023

By Mayukh Saha

While air travel has been a part of our lives for quite some time, the great costs associated with it make it not so affordable for the common public. Auto-pilot has been a part of our passenger planes, but even then they are not very reliable. A pilot always has to be present.

The company who revolutionized cab services throughout the world has been working on automatic aerial pods for ride-share and has announced that aerial rides will soon turn from science fiction to reality in the coming years...

Jun 27 09:35

Trade War Nightmare: China Farm Imports From America Have Just Crashed 

The Ministry of Agriculture and Rural Affairs of the People's Republic of China published new data Monday that shows agricultural imports from the US have fallen, as Chinese buyers shift supply chains out of the US to other countries because of the deepening trade war.

In the first five months of 2019, imports of agricultural products from the US crashed 55.3% YoY. Much of decline was due to a 70.6% YoY decline of soybeans in the same period.

Chinese importers went to Brazil, Argentina, and ASEN countries (Thailand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Brunei, Myanmar (Burma), Cambodia, and Laos). Data showed imports from the EU, Australia, and Canada also jumped in the first five months as Chinese buyers ditched American products.

Jun 27 09:34

G20 SUMMIT IN OSAKA - THE DROUGHT YEARS OF INTERNATIONAL COOPERATION

The G20 has been mired in an ongoing crisis for years. After the G20, newly formed ten years ago at the level of heads of state and government, initially overcame the economic and financial crisis more or less successfully, the question quickly arose as to its role beyond reacting to crisis.

Jun 27 09:31

WARBURG PINCUS ANNOUNCES NEW $4.25 BILLION FUND FOR CHINA AND SOUTHEAST ASIA

Warburg Pincus, the private equity fund with over $ 60 billion under management, is doubling down on Asia after it announced a $ 4.25 billion fund dedicated to China and Southeast Asia.

The firm has been present in China for 25 years, and it has invested over $ 11 billion in a portfolio of over 120 startups that includes the likes of Alibaba’s Ant Financial and listed companies NIO (a Tesla rival), ZTO Express (a courier firm)among others. The new fund will work in tandem with the firm’s $ 14.8 billion global growth fund which was finalized at the end of last year.

Jun 27 09:29

Trump: My Plan B With China on Trade is to Reduce Business With China

The president earlier threatened to slap tariffs on the remaining $300 billion in Chinese goods coming into the United States unless Chinese President Xi Jinping agreed to meet with him at the G20 meeting in Osaka, Japan to hammer out a trade deal favourable to Washington.

President Donald Trump has reiterated his promise to slap additional tariffs on China if a trade deal is not reached, saying that he was "happy" with things as they are and that China needed the deal more than the US did since its economy has been hit hard by the existing restrictions.

"I would do additional tariffs, very substantial additional tariffs, if that doesn't work, if we don't make a deal", Trump said. "China's economy is going down the tubes - they want to make a deal", he stressed, speaking to Fox News Business on Wednesday morning.

Jun 27 09:00

New Home Sales Tank – KBH Claims Its Numbers “Improved”

“We are confident we can produce further improvement in our results in the second half of this year” – KB Homes CEO in reference to its “returns-focused” growth model

“Returns-Focused Growth Model.” Has a nice ring to it, doesn’t it? KBH’s revenues dropped 7.3% YoY for Q2. It’s operating income plunged a healthy 28%. How’s that growth strategy working out for you, Jay?

Of course it produced a headline EPS “beat.” But this is because it implemented a full-blown deep-tissue body massage to GAAP accounting, including capitalizing costs that should have been expensed (interest expense and homebuilding expenses), it recognized a non-cash “income” in off-balance sheet JV’s (a suspiciously round $2.5 million) and slashed its arbitrarily determined book tax rate to 17% from 28%.

Jun 27 08:52

It's asinine to cut rates here

Jun 27 08:52

Historical Returns Following First Rate Cut

Jun 26 17:49

PG&E to Pay $1B for CA Wildfires. But What About Lawsuits for Smart Meter Fires? Is There A Link?

By B.N. Frank

If you hadn’t heard, Pacific Gas & Electric (PG&E) has finally agreed to pay $1B in damages for starting several California wildfires.

But will we ever know for sure whether or not PG&E Utility Smart Meter fires and explosions played any role in those wildfires?...

Jun 26 17:02

A Look at Finland’s Extensive Disaster Preparedness Plans

By Daisy Luther

During World War II, the city of Helsinki, Finland was bombed relentlessly, leaving the tiny country with a death toll of more than 90,000 people. It is due to these devastating losses that the Nordic nation has one of the most comprehensive preparedness cultures on the planet...

Jun 26 15:16

The 20 Biggest Bankruptcies in U.S. History

Jun 26 14:43

Is Gold About To Get Whacked?

Jun 26 14:43

Recovering Perma-Bear At A Crossroad

Jun 26 10:56

The History of Cellular Network Security Doesn’t Bode Well for 5G

By EFF Threat Lab

There’s been quite a bit of media hype about the improvements 5G is set to supposedly bring to users, many of which are no more than telecom talking points. One aspect of the conversation that’s especially important to get right is whether or not 5G will bring much-needed security fixes to cell networks. Unfortunately, we will still need to be concerned about these issues—and more—in 5G...

Jun 26 10:12

WTF CHART OF THE DAY

Jun 26 06:37

The Bank of Japan begins to face its failures

Jun 25 15:58

IMF warning: NZ economy has lost momentum

New Zealand's economic expansion has lost momentum and while the near-term outlook is expected to improve, risks are increasingly tilted to the downside, according to the International Monetary Fund.

The global body of 189 member countries, set up to foster international monetary cooperation, said the expected improvement in the second half of this year and in 2020 largely reflects increased monetary and fiscal policy support, while the terms of trade are expected to continue supporting domestic demand.

"The near-term boost in growth should lead to a positive output gap and a gradual acceleration of inflation towards the 2 per cent mid-point of the RBNZ's target range," the IMF said in its concluding statement describing the preliminary findings of visiting staff.

*We're going down with the rest of the world!*

Jun 25 15:48

“Surveillance Capitalism”: Toronto Urged to Abandon Google’s Smart City

By Derrick Broze

The “Smart City” Quayside project in Toronto, Canada continues to receive criticism from privacy advocates as well as current and former members of the project.

Quayside is a smart city located on 12 acres of waterfront property southeast of downtown Toronto, Canada. The city represents a joint effort by the Canadian government agency Waterfront Toronto and Sidewalk Labs, which is owned by Google’s parent company Alphabet Inc...

Jun 25 10:34

Mapping The World's Financial Weak Spots

Jun 25 10:20

4 More States Join Original 10 in Lawsuit Opposing Sprint / T-Mobile Merger So They Can Compete With Verizon and AT&T in Unleashing Harmful 5G Everywhere

By B.N. Frank

In February, telecom industry representatives gave congressional testimony that they have no scientific evidence that 5G is safe. Many studies have proved it’s not. Despite this and the growing U.S. opposition to 5G from cybersecurity experts, doctors, elected officials, environmentalists, meteorologists, NASA, NOAA, scientists, and the U.S. Navy, the despicable “Race for 5G” continues and Sprint and T-Mobile want a more competitive edge in unleashing it too...

Jun 25 10:18

Gold Sees New Highs After Breaching $1,400

Jun 25 09:20

Blain: "We're Nearing The Moment When Everyone Tries To Exit The Bond Market At The Same Time - It Will Be 2007 Again"

These are thin and dangerous markets… We are marking time ahead of Friday’s G20 meeting. Then it will be summer. By then we will be anxious about Europe, Iran or whatever the next thing is. Traders have too much to worry about and too little to do. The geopolitical strains, fretting what Trump might tweet next (yesterday’s all-out assault on the Fed and calling it a “stubborn child” was sublime), or this week’s trade meeting at the G20 – which I expect will seriously under-deliver on market hopes. Remember – Hope is never a Strategy!

I do think we need to think a little more about the Trump effect on stability. The US ain’t doing so bad around 2.5% growth (3.1% Q1). Only an idiot would mistake a soar-away stock market with economic stability. A Dow a couple of “thousands points higher” would be massively overbought, and just a higher number to correct, and if “the Fed doesn’t know what its doing”.. well who does? Trump is noise. Get over it.

Jun 25 09:14

Survey: Two-thirds of American employees regret their college degrees

A college education is still considered a pathway to higher lifetime earnings and gainful employment for Americans. Nevertheless, two-thirds of employees report having regrets when it comes to their advanced degrees, according to a PayScale survey of 248,000 respondents this past spring that was released Tuesday.

Student loan debt, which has ballooned to nearly $1.6 trillion nationwide in 2019, was the No. 1 regret among workers with college degrees. About 27% of survey respondents listed student loans as their top misgiving, PayScale said.

Jun 25 08:55

Dollar Doomsday Looms as Refineries Go Boom

Jun 25 08:26

Debt-Free by 2024! Gee, Thanks, Mister!

Jun 25 07:47

Property Prices Growth Around The World

Jun 25 07:32

The ECB’s Renewed Attack on Free Markets

Jun 24 17:16

Money and Gold in the 1920s and 1930s

Jun 24 17:02

Citizens Now Face Up to $500 “Speeding Tickets” for Riding BICYCLES Over 15 MPH

By Matt Agorist

Denver, CO — In a likely move to bolster the city’s bottom line, Denver Park Rangers are stepping up efforts to catch people speeding. No, they aren’t going after cars driving on the road, they are going after bicycles who are driving on the designated bicycle path.

Throughout parks in the city, the set speed limit for riding a bicycle is apparently 15 miles per hour. Rangers have set up speed traps around parks, using radar guns to clock people on bicycles who would dare cross that threshold...

Jun 24 16:45

Bruce Kushnick and The IRREGULATORS Win First Round Against The FCC. Exposing the $500B Rip-Off Continues.

By B.N. Frank

Hooray for Bruce Kushnick and The IRREGULATORS! Activist Post and many others have reported about their most recent efforts against telecom corruption. From Counterpunch:

"On May 20th, a group known as the Irregulators submitted legal briefs to the U.S. District Court in Washington, DC, seeking standing to appeal a Federal Communications Commission (FCC) decision that, in effect, has facilitated one of the largest accounting scandals in American history...

Jun 24 16:32

U.S. Consumer Debt Surpasses Financial Crisis Levels

By Mac Slavo

Debt levels reached record levels during the Great Recession which struck the United States about a decade ago. Now, U.S. consumer debt has surpassed those levels with a record number of Americans living on the edge of disaster...

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