ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 27 12:57

BOMBSHELL: Group of Wealthy Donors Paid $50 Million to Fund Trump-Russia Investigation

A group of wealthy donors from New York and California have forked out $50 million to fund a Russia investigation being conducted by Christopher Steele, Fusion GPS and a former Senate staffer for Dianne Feinstein.

Apr 27 12:49

New Study: 80% of ICOs are Scams, Only 8% Reach an Exchange

Using publicly available sources, Satis Group LLC classified initial coin offerings (ICOs) with market capitalizations of at least 50 million USD by quality, following an ICO’s evolution from white paper, fundraising, to eventual trading online. Their findings include the eye-popping claim that 80% of ICO’s are scams, and only 8% managed to trade on a exchange.

Apr 27 12:38

Auto Sales Forecast To Tank In April

Apr 27 11:51

Airbnb Just Lost a Limb in its Fourth Biggest Market

Amid a blossoming backlash against mass tourism.

Apr 27 11:44

The Pension Crisis Is Worse Than You Think

Apr 27 10:20

Amazon: For every dollar of op. profit going into Bezos' pockets, 73 cents came from AWS

It's pretty much a cloud provider with a gift shop on the side

Apr 27 09:30

FLASHBACK - Social Security records show 6.5 million Americans are aged 112

Only 42 people are known to be that old in the entire world but the bureau does not have death records on file, leaving these numbers vulnerable to fraud

Apr 27 09:18

Britain's economy grows by its slowest rate since the 2012 Eurozone crisis as Chancellor Philip Hammond blames SNOW for the gloomy figures

UK gross domestic product was up by just 0.1 per cent in the first three months of the year, the Office for National Statistics said.

Apr 27 08:44

More bad news for the iPhone X: Samsung warns of 'slow' demand for OLED screens used in Apple's pricey device

One of Apple's top suppliers has given rise to fresh concerns about disappointing iPhone X sales.

Samsung warned in its latest quarterly earnings report that it saw 'slow' demand for its flexible organic LED screens, which hints at less than stellar sales of the iPhone X.

Apr 27 05:50

800,000 people are about to flee New York and California because of taxes, say economists

Conservative economists Arthur Laffer and Stephen Moore are predicting a new mass exodus of wealth from New York and California because of the new tax law. But academics who have studied taxes and migration call the forecast “pure nonsense.”

Apr 27 03:07

Massive Monetary Stimulus

Apr 26 13:59

H.R.5404 – To define the dollar as a fixed weight of gold.

Interesting…this bill was introduced in the House on 22 March: H.R.5404 – To define the dollar as a fixed weight of gold

Sponsor: Rep. Mooney, Alexander X. [R-WV-2] (Introduced 03/22/2018)Alexander Xavier Mooney is the U.S. Representative for West Virginia’s 2nd congressional district since 2015. He is a member of the Republican Party.

Committees: House – Financial Services
Latest Action: House – 03/22/2018 Referred to the House Committee on Financial Service

Webmaster's Commentary: 

The FED will never let this happen.

Apr 26 13:37

The coming boom in gold prices. . .

Apr 26 13:16

Worldwide Wine Output Collapses To 60-Year Low, Sparks Fears Of Major Shortage

Global wine production collapsed in 2017 to its lowest levels since 1957, primarily due to poor weather conditions in the Eurozone which slashed production across the entire bloc...

Apr 26 12:57

Peak-Bubble for Junk Bonds, Says WeWork Bond Sale

When is it gonna pop?

Apr 26 11:40

The Central Bank Experiment Failed, Germany Moves Closer To The Silk Road

The central banks are demonizing the crypto market, now we have the former CEO of Intuit who says that bitcoin is a pump and dump scheme. If we compare this to the stock-market I wonder which is the pump and dump scheme.

Apr 26 11:19

The Great Exodus From America's 'Blue' Cities Accelerates

Am I the only one in my spinning class at Equinox in Manhattan who’s fed up paying $200 every month for a gym with clean showers, $3,000 in rent every month for an apartment without cockroaches and $8 every morning for a cup of coffee? Am I the only one moving through the greater part of New York City boroughs and seeing an inexorable march of urban decay matched with the discomfort of crowding and inexplicable costs? I know I am not.

New York is the most expensive city in America. Its lower-cost neighborhoods are riddled with crime and homelessness. Its public schools, some of which are among the worst in the nation, look more like prisons than places of learning.

Apr 26 10:40

A Royal Wedding Amid Such Crippling Poverty and Despair is a Provocation

The days of a royal birth or wedding being able to forge a national consensus in Britain are over. Not now. Not when so many are suffering. Not when social and economic injustice has reached Dickensian levels. And certainly not when revulsion of the country’s power elite has become so entrenched.

On the contrary, such royal events only serve to emphasise the incompatibility of the monarchy with democracy and the nation's collective intelligence in the 21st century.

How could it be otherwise at a time of rising poverty, brute inequality, social injustice, and growing public anger over a political and media establishment whose detachment from the lived experience of millions is near complete?

Apr 26 10:00

Tech Moguls Concerned about Massive Job Loss From Automation Recommend Universal Basic Income (UBI) — Some Plan for “Doomsday”

By B.N. Frank

Many of us have loved ones who are victims of Age Discrimination. Some have been forced out and replaced with younger employees. Some never find work again. This has been going on for decades.

Automation has also contributed to job loss. According to many sources, including the Progressive Populist, this is going to get much worse. That’s why tech inventors have proposed a Universal Basic Income (UBI)...

Apr 26 10:00

Lockheed Martin raises 2018 forecast as strong defense funding fuels Pentagon business

Lockheed Martin stock gains after a strong earnings report and guidance boost.
Its largest division was helped by $185 million in sales for F-35 fighter jets.

The defense contractor beat Wall Street's earnings per share expectation by 62 cents, with three of the company's four divisions bringing in more revenue than the same quarter last year. Lockheed Martin raised its 2018 forecast to a range of $15.80 to $16.10 earnings per share, as well as its revenue to a range of $50.35 billion to $51.85 billion — an increase of $350 million from the company's previous estimate.

Lockheed did not change its expected annual cash flow for the year, holding at $3 billion.

Apr 26 08:58

Colorado Republican lawmakers want to punish striking teachers with jail time.

Two Republican state lawmakers are trying to shut down a potential teachers strike in Colorado with the threat of jail time.

The bill, introduced in the state Senate Friday, prohibits districts from supporting a teachers strike and requires schools to dock a teacher’s pay for each day they participate in a walkout. The teachers could also face up to six months in jail and a $500 daily fine if they violate a court order to stop striking. Under the new law, sponsored by state Sen. Bob Gardner (R) and state Rep. Paul Lundeen (R), a teacher could be immediately fired without a hearing.

The harsh punishment comes in reaction to the teacher strikes sweeping red and purple states, including Oklahoma, West Virginia, Arizona, and Kentucky. Thousands of teachers in Colorado have joined the grassroots movement, holding rallies at the state capitol in recent weeks to demand a pay raise and more funding.

Webmaster's Commentary: 

Apr 26 02:33

Small Business is the Mainstay of the Economy

Apr 25 13:53

12 retailers at risk of bankruptcy in 2018

Apr 25 13:30

'Being cash-free puts us at risk of attack': Swedes turn against cashlessness

It is hard to argue that you cannot trust the government when the government isn’t really all that bad. This is the problem facing the small but growing number of Swedes anxious about their country’s rush to embrace a cash-free society.

Most consumers already say they manage without cash altogether, while shops and cafes increasingly refuse to accept notes and coins because of the costs and risk involved. Until recently, however, it has been hard for critics to find a hearing.

“The Swedish government is a rather nice one, we have been lucky enough to have mostly nice ones for the past 100 years,” says Christian Engström, a former MEP for the Pirate Party and an early opponent of the cashless economy.

“In other countries there is much more awareness that you cannot trust the government all the time. In Sweden it is hard to get people mobilised.”

Apr 25 13:20

Things Work Until They Don’t

One thing is for certain. People today believe anything but reality and that will catch up to them all very soon in a very painful way. Things work until they don’t. Our economy has been rolling along for decades on the stored wealth of previous generations but that is about to run out of steam very soon. When it does it will be a shock to all but a few. You can ignore reality but you cannot ignore the consequences of ignoring reality.

Apr 25 10:30

A New Lithium War Is About To Begin

It’s the modern gold rush. Around the world, the most sought-after mineral isn’t a precious metal, nor is it oil and gas…it’s lithium.

Lithium, or “white petroleum” as some call it, has become a crucial element in today’s high-tech economy.

Demand for lithium is soaring, and producers are frantically searching for new sources of supply. Prices have doubled in the last two years, rising as high as $16,500 per ton.

Apr 25 10:27

Finland's flirtation with "free" money for the jobless to end

Finland's government has decided not to continue its year-old experiment offering citizens a universal basic income -- or money for nothing -- beyond the two year trial. In January 2017, Finland became the first country in Europe to pay some of its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in the unique social experiment aimed at cutting government red tape, reducing poverty and boosting employment.

On Tuesday, it emerged that the government had decided to stop making the payments to the 2,000 randomly picked citizens chosen as subjects in the experiment from January 2019. The government denied a request from its own social benefits agency, KELA, to expand the program.

Apr 25 09:53

YouTube deleted about 5 million videos from its platform for content policy violations in last year’s 4th quarter

before any viewers saw them. Since autumn, it has promoted “authoritative sources” such as CNN in search results

“They still have lots of work to do but they should be praised in the interim,” Paul Barrett

Apr 25 09:37

Getting Tight! Not Just Here But Everywhere

Apr 25 09:24

Cash “Vanishes” From Bank Accounts In Ireland

Your money in your bank account can vanish. That is the lesson from yesterday’s enormous screw-up by Ulster Bank that saw payments and bank account balances suddenly vanish.

Customers were left out of pocket and struggling for funds. Payments including salaries were not made, cards were declined and customers were unable to pay for urgent goods and services.

Ulster Bank has blamed the issue on ‘human error’ and claims this morning that the issue has been rectified. Although it has taken some customers four days to be able to make urgent payments.

This was a weekend of bank ‘errors’. In the UK, TSB faced a ‘meltdown’ after scheduled IT maintenance went somewhat awry. Many customers found themselves unable to access their accounts, whilst some even had access to other peoples’ money.

Webmaster's Commentary: 

Another reminder to keep your cash at home!

Apr 25 09:21

Debt and Delusions – Part One

U.S. debt, spending and deficits are out of control. Thinking otherwise is delusional. The “runaway train” of debt creation will end tragically. Protect your assets from a mathematically assured disaster while you can. Buy and hold silver, gold and platinum.

The national debt of western nations plus Japan is a travesty that threatens national insolvency, a crashing financial system, and social stability!

Apr 25 09:00

German Press Says US Kneecapped Itself With Its Sanctions On Russian Aluminum

The US sanctions against aluminum producer Rusal seem to be a shot in their own knees: After the US government found that the price of aluminum went up as a result of uncertainty about the future of Rusal, US companies, and the massively hit western allies, the government in Washington backpedaled on Monday.

US Treasury Secretary Steven Mnuchin said in a statement: “Rusal has felt the impact of US sanctions for its involvement with Oleg Deripaska, but the US government is not targeting the hard-working people who depend on Rusal and its affiliates. Rusal approached us to request removal from the list. Given the impact on our partners and allies, we have decided to postpone the resolution and dismantling phase while reviewing the request from Russia. ”

Apr 25 08:58

The loss of department stores could lead to areas like ghost towns, says GEOFF HO

DEPARTMENT store chains Debenhams and House of Fraser delivered a double dose of bad news on Thursday and given the uncertain outlook, there is a real risk that worse could come from the pair.

Once a corner stone of the high street - our department stores are in trouble
Both are suffering from falling sales, high rents on their stores, business rates, the rise of internet retailers and flagging consumer spending.

House of Fraser said on Thursday night that it had hired accountancy giant KPMG to help it explore restructuring options and it is highly likely that it will result in a company voluntary arrangement (CVA), an insolvency procedure that will let users shut stores and cut rents on others.

Apr 25 08:43

The government “can’t find” $20 trillion, while pension funds are tanking Apr24

The government “can’t find” $20 trillion, while pension funds are tanking

Note: the missing $20 trillion does not refer to the national debt.

Apr 25 07:59

Chicago Is Trying to Pay Down Its Debt by Impounding Innocent People’s Cars

Byrd had run afoul of Chicago's aggressive vehicle impound program, which seizes cars and fines owners thousands of dollars for dozens of different offenses. The program impounds cars when the owner beats a criminal case or isn't charged with a crime in the first place. It impounds cars even when the owner isn't even driving, like when a child is borrowing a parent's car.

In total, Chicago fined motorists more than $17 million between March 2017 and March of this year for 31 different types of offenses, ranging from DUI to having illegal fireworks in a car to playing music too loud, according to data from the Chicago Administrative Hearings Department. About $10 million of those fines were for driving on a suspended license, and more than $3 million were for drug offenses like the one that resulted in the impoundment of Byrd's car.

Apr 25 07:58

North Korea's Economic Crisis -- What Crisis?

Much ink has been spilled recently about how economic sanctions have crushed the North Korean economy and brought its leader Kim Jong-un to the bargaining table. Not so fast. For starters, there wasn’t much to crush. Never mind. And, contrary to repeated conjectures by experts in international affairs, whatever there is of a North Korean economy appears to be quite stable.

Apr 25 07:56

Interest rates attempting 25-year breakouts!

Apr 25 07:40

Pillar Project Governance Call


(yup, thats me in that bunch ;D )
Please let me know if there is anything you would like to know about the project. The WRH community is a perfect fit imho! Sign on to the mattermost community and get directly involved! :D
https://community.pillarproject.io/signup_email

Apr 25 07:25

Where to Next for Bitcoin?

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