ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Dec 11 06:35

These Secretive Oil Companies Control $3 Trillion In Wealth

They control the vast majority of the world’s oil and gas assets, yet the average person has never even heard of them, outside of those that are famous for things like getting attacked by missiles or becoming embroiled in a high-profile corruption scandal.

State-owned oil and gas companies (aka, the national oil companies, or NOCs) control at least US$3 trillion in oil and gas assets, compared to around $2.5 trillion as of 2017, and hold an estimated 90% of all known reserves--considerably more than publicly listed companies such as BP, ExxonMobil and Shell. Meanwhile, Saudi Aramco leads the pack as the world’s most profitable company.

That means that NOCs control about as much wealth as all U.S. billionaires or roughly twice the assets of global multilateral development banks.

Dec 11 06:31

And another one bites the dust!

A California truck load carrier filed for bankruptcy, making it the second carrier in a week to file.

Ceres, California-based trucking company Mike Tamana Freight Lines filed Chapter 11 bankruptcy on February 8 in the Eastern District of California in Modesto, according to court documents.

It isn’t clear what the company’s plans are for the weeks and months to come, but the company’s Facebook page has been taken down. When CDLLife reached out to the company for comment about how it would proceed after the bankruptcy filing, Aman Tamana simply replied, “It’s Chapter 11.”

Dec 11 06:30

Another one bites the dust!

Elizabeth, N.J., Feb. 11, 2019 /PRNewswire/ – New England Motor Freight, Inc. (the “Company” or “NEMF”) today announced that the Company and ten related entities have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark on February 11, 2019. NEMF intends to use these proceedings to facilitate an orderly wind-down of its operations.

Dec 11 06:24

A “STEALTHY” NEXT RECESSION?

Dec 11 05:14

China Just Opened “the Suez Canal of Our Era”: China’s Eurasian Rail “Middle Corridor”

Two recent developments highlight how the new world is being invented by the Chinese—and how it will affect the Middle East and central Asia.

Last month, while Congress busied itself with impeachment hearings, a mammoth Chinese cargo train arrived in Turkey en route to the heart of Europe. It will be remembered as the first freight train to pass from China across central Asia and under the Bosphorus Strait, using the Marmaray tunnel as part of China’s historic Belt and Road Initiative (BRI).

Like the Suez Canal in its day, this “Iron Silk Road” through central Asia is a time saver, with the added bonus of circumventing sea routes now controlled by the West. It will reduce the transportation time between China and Turkey from one month to 12 days, while the entire journey from Xi’an to Prague in the heart of Europe will take only 18 days, half the time of a similar journey by sea and at similar cost.

Webmaster's Commentary: 

The Chinese silk road, if allowed to continue by hegemonic forces in the West, will be a boon for all companies using its infrastructure to trade.

Dec 11 05:03

Oklahoma Bill Would Block Unconstitutional National Guard Deployments

OKLAHOMA CITY, Okla. (Dec. 10, 2019) – A bill prefiled in the Oklahoma Senate would prohibit unconstitutional foreign deployments of the state’s National Guard troops. Passage into law would effectively restore the founders’ framework for a state-federal balance regarding the state militia.

Sen. Nathan Dahm (R-Broken Arrow) prefiled Senate Bill 1101 (SB1101) last week. The legislation would require a congressional declaration of war before Oklahoma National Guard units could be deployed into combat in a foreign country. The legislation reads in part:

Webmaster's Commentary: 

Good on Oklahoma!!

Dec 11 05:01

US No Longer Considers Yemen’s Houthis an Iranian Proxy

The Trump Administration has announced a policy change that looks like it could be a major turning point in US policy toward Yemen, announcing that they no longer consider the Shi’ite Houthi movement in Yemen to be a proxy of the Iranian government.

That stance is one initially pushed by the Saudi government to justify the Yemen War, and the US was only too willing to mirror it. This was in spite of the Houthis having substantial ideological differences with Iran, little direct contact, and not being the same type of Shi’ites.

The US did not explain their change in stance, but it may reflect Saudi Arabia’s ongoing peace talks with the Houthis, as the US couldn’t possibly support a peace deal that involved an actual Iranian-linked faction.

Dec 11 04:44

Leadership Strips Approved Antiwar Measures From NDAAHouse limitations stripped away in final bill

he House version of the 2020 National Defense Authorization Act (NDAA) set aside an irresponsibly large amount of money for military spending, but it also added some antiwar amendments and other very basic limitations. The House and Senate versions have now been reconciled into a final bill, and materially all of the limitations that the House voted on and approved have been stripped away, in favor of a $738 billion bill that continues spending, but makes no attempt to rein in the military in any serious way.

The House bill had included the latest attempt to use the power of the purse to end US military involvement in Yemen, something that both houses had attempted to do in a War Powers Act resolution that was previously vetoed by President Trump. That language will not be in the final bill.

Dec 11 04:42

The ‘Afghanistan Papers’ Highlight the Systemic Rot in U.S. Foreign Policy Making

here is a laundry list of reasons for why the U.S. foreign policy establishment comes up short on so many occasions. A total and complete absence of accountability in the industry ensures that those who demonstrate poor judgment are protected from punishment and allowed to repeat it. In this harsh political climate, politicians have an incentive to double down on the status-quo rather than admit mistakes. And an aversion to the smallest reform in Washington, D.C. means that it’s easier to simply go along to get along—even if doing so compounds failure.

Dec 11 04:02

Exposing The Promoters Of Climate Anxiety

I have gotten so many calls and emails from desperate folks I can't list them here. One woman tearfully told me her mother was desperately ill in California, but she couldn't move to be with her because she was afraid of the effects of climate change in that state. Another woman called, terribly worried about fires in western Washington from global warming. A few others asked about where they should move to escape our local apocalyptical conditions.

So why are all these people so anxiety-ridden and desperate? I believe it is the unconscionable exaggeration, hype, and fear-mongering of our media, special interest groups, some activist scientists, and a number of politicians. And it is unethical, ungrounded in science, and hurting the most vulnerable among us.

Webmaster's Commentary: 

I would like to hope that science teachers are teaching fact, and not freaking kids out, that the earth is going to die in 11 years, or whatever AOC said in her last tirade on this issue.

What we are facing, is not global warming right now, but a cycle of global cooling.

Global Warming By CO2 Or Cooling By A Grand Solar Minimum

And please check out this following article:

HomeArticlesThe Sun has been Spotless for a Total of 224 Days in 2019, and Counting… Looming Grand Solar Minimum

So why are we bing sold "global warming"?!? Ah, because there is money, vast sums of it, to be made, in trading carbon credits, which was precisely what Al Gore wanted to do; create an horrific planetary scenario which, of course, was going to destroy the planet, unless we all "did something"; and you know what?!?

He absolutely lied, because he didn't really have the science on his side, when he created his faux science schemes on global warming theory.

And looking outside our home here in Indiana, we are having the polar opposite of "global warming"; there's ice on the ground here, folks!

Dec 11 03:44

"Unprecedented" China Auto Market Collapse Heads Into Third Year After November Sales Drop 4.2%

The ongoing recession in the global auto market has undoubtedly been lead by China - and if November's trends are any indication, the entire industry could be setting up for an ugly 2020.

Sales of sedans in China fell 4.2% in November to 1.97 million units, according to the CPCA on Monday.

This marks the 17th decline in the last 18 months and all but ensures that China will see a second straight annual drop for its auto market, according to Bloomberg.

Webmaster's Commentary: 

These numbers look exceptionally awful.

Dec 11 03:39

Dem Congressman: Impeach Trump To Heal The Wounds Of Slavery

Authored by Graham Noble via LibertyNation.com,

It is hardly a surprise when Democrats accuse President Donald Trump of some terrible act. Nor is it shocking to hear the president incriminated for all manner of terrible and tragic events. But to witness a Democrat member of Congress blame Trump for slavery is too much of a stretch. Yet, Rep. Al Green (D-TX) is doing just that – or at least drawing a bizarre link between slavery and the current commander in chief.

Green, with a largely unremarkable political career, is now well known for one thing: his obsession with seeing this president impeached. The representative repeatedly and unsuccessfully introduced motions to impeach Trump – long before any phone calls to Ukrainian presidents.

Green’s Ridiculous Obsession

Webmaster's Commentary: 

This obsession, on the part of Green, is nothing less than certifiable; it is unfortunate, that there is no provision in the Constitution or Bill or Rights, to have an equivalent to the 25th Amendment, which allows a President to be removed from office, when he or she does not appear to be functional.

Because everytime Green grandstands on this issue, he is NOT doing the work his constituents are asking him to do, and that is a damn shame.

And the utter and completely contemptuous tearing apart of the American body politic on this issue of impeachment on non-evidence, is nothing short of an horrific crime against the citizens of this country, in and of itself.

Dec 11 03:28

These Secretive Oil Companies Control $3 Trillion In Wealth

Authored by Anes Alic via OilPrice.com,

They control the vast majority of the world’s oil and gas assets, yet the average person has never even heard of them, outside of those that are famous for things like getting attacked by missiles or becoming embroiled in a high-profile corruption scandal.

State-owned oil and gas companies (aka, the national oil companies, or NOCs) control at least US$3 trillion in oil and gas assets, compared to around $2.5 trillion as of 2017, and hold an estimated 90% of all known reserves--considerably more than publicly listed companies such as BP, ExxonMobil and Shell. Meanwhile, Saudi Aramco leads the pack as the world’s most profitable company.

That means that NOCs control about as much wealth as all U.S. billionaires or roughly twice the assets of global multilateral development banks.

Webmaster's Commentary: 

Oil , and access to it, are critical to war, as there has not yet quite been a tank created which can run on solar; wind; cold fusion; or hydrogen.

If you see a sudden huge upshove at your local gas station, and all around you, that rise is generally telegraphing a prelude to war.

Dec 10 23:40

Prins: The Fed Is On High Alert

Dec 10 23:38

Is the Corporate-Debt Bubble Ripe Yet?

Dec 10 19:49

The Taxonomy of Collapse

Dec 10 19:39

What Have the US and Protesters in Lebanon Achieved over Iran and Its Allies?

For several weeks now, much of the Lebanese population has turned on the country’s traditional political leaders and wrought havoc on the corrupt domestic political system. Those who have ruled the country for decades have offered little in the way of reforms, have paid little attention to the infrastructure, and done little or nothing to provide job opportunities outside the circle of their clients. The protestors were also driven into the street by the US measures strangling the Lebanese economy and preventing most of the 7-8 million expatriates from transferring financial support (around $8 billion per year) to their relatives back home. This is how the US administration has conducted its policy in the Middle East in its failed attempt to bring Iran and its allies to their knees.

Dec 10 19:23

Introduction to Terpenes

A wondrous Plant.

The cannabis plant consists of a wide variety of chemicals and compounds. About 140 of these belong to a large class of aromatic organic hydrocarbons known as terpenes (pronounced tur-peens).

Terpenes are common constituents of flavorings and fragrances. Terpenes, unlike cannabinoids, are responsible for the aroma of cannabis. The FDA and other agencies have generally recognized terpenes as “safe.”

Terpenes act on receptors and neurotransmitters; they are prone to combine with or dissolve in lipids or fats; they act as serotonin uptake inhibitors (similar to antidepressants like Prozac); they enhance norepinephrine activity (similar to tricyclic antidepressants like Elavil); they increase dopamine activity; and they augment GABA (the “downer” neurotransmitter that counters glutamate, the “upper”).

Dec 10 16:54

Central banks worldwide buying up massive amounts of gold in a shift away from US dollar – Goldman Sachs

RT
December 10, 2019

Gold prices will climb to $1,600 per ounce over the next year, Wall Street bank Goldman Sachs projects. It says that central banks are consuming a fifth of the global supply of the yellow metal.

“De-dollarization in central banks – demand from central banks for gold is biggest since the Nixon era, eating up 20 percent of global supply,” the head of global commodities research at Goldman, Jeff Currie, told Bloomberg. “I am going to like gold better than bonds because the bonds won’t reflect that de-dollarization.”

Citing “fear-driven demand” for the precious metal, Goldman analysts said last week that investors should diversify their long-term bond holdings with gold.

Webmaster's Commentary: 

Folks, we may want to take a good hard look at this development; we have a lot of economic manure, hitting the ventilation system in the next couple of weeks, internationally, so please; if you can, do think about this as a way of protecting, please look at the possibility, even if you had not considered it before.

Dec 10 11:07

THE HORRORS OF THE TRUMP ECONOMY:

Dec 10 10:10

Netflix Slides After Needham Downgrades, Warns Of Subscriber Exodus In 2020

Netflix could lose upwards of 4 million US subscribers in 2020 thanks to intensifying competition in the streaming space.

Dec 10 08:50

Why is the US Repo crisis ongoing?

Dec 10 06:15

BIS Drops a Bombshell: Four U.S. Mega Banks Are Core of Repo Loan Crisis

Yesterday, the Bank for International Settlements (BIS) dropped a bombshell report that torpedoed the Federal Reserve’s official narrative on what has caused the overnight lending market (repo loan market) on Wall Street to seize up since September 17, leading to more than $3 trillion in cumulative loans from the New York Fed as lender of last resort.

Dec 10 06:09

California Bringing Back Debtors Prisons for Homeless

Homelessness has been on the rise in California, and has skyrocketed since the Camp and Carr fires devastated the state.

Officials throughout California have grappled with various ways to deal with the ongoing crisis, however, in the Northern California city of Redding, Mayor Julie Winter has sent a state-of-emergency request to Gov. Gavin Newsom, approved by the Redding City Council last week, that requests the right to involuntarily detain people into homeless shelters.

In the drafted letter, Mayor Winter ask the governor for aid in forcing the homeless to adhere to her regulations, but includes “conservatorship until such time as the individual has demonstrated the ability to care for themselves including managing their finances.”

Dec 10 06:02

"We're Living On Borrowed Time..."

Dec 10 05:45

Major Freight Carrier Bankrupted, Leaving 3,000 Truckers Jobless, Many Stranded On Highways

As the manufacturing recession gains momentum, the largest U.S. truckload carrier filed for bankruptcy Monday morning, leaving 3,000 truck drivers and 500 administrative positions without a job two weeks before Christmas.

Indianapolis-based Celadon filed for voluntary Chapter 11 bankruptcy in the early hours on Monday morning.

Dec 10 05:41

Per Capita World Debt Has Surged To More Than $200,000

Global debt is officially $184 trillion, which is 225% of global GDP. This is $86,000 for every person in the world, which is 2.5 times annual income.

We estimate that official figures are understated by a factor of 2.5, so debt is actually $460 trillion, which is 560% of GDP and $215,000 per person.

These numbers are astronomical, raising the risk of economic blowback once interest rates and inflation rise, as they eventually will.

Dec 09 12:38

Schiff, AOC Lambasted for Misrepresenting Trump Admin’s New Food Stamp Rules

Under Obama, being on food stamps was portrayed as “cool” and even something to aspire to. After all, one could get lobster and a host of other luxury food items via the Supplemental Nutrition Assistance Program (SNAP). The Obama administration urged everyone who could remotely qualify to enroll. In fact, Obama vastly expanded food stamps eligibility and the number of food stamp recipients.

What American taxpayer living on a budget wasn’t thrilled to subsidize the indulgent appetites of the nation’s pajama boys and government-dependent Julias? A vast number, as it turned out, including Trump voters.

Dec 09 10:54

Deutsche Bank's decline in a chart

Dec 09 09:43

The Greatest Central Bank Blow-Off Top Ever

Dec 09 09:42

2020 will likely be a less pleasant start.

Dec 09 08:11

All Aboard The "No Recession" Train

Dec 08 15:47

Chart of crashes

Dec 08 11:59

China Just Opened the Suez Canal of Our Era and No One Blinked

A hundred years from now, Donald Trump’s looming impeachment and Syria’s unending travails will be long forgotten. But just as we still celebrated the 150th anniversary of the completion of the Suez Canal in 1869 without remembering who ruled Egypt at the time (Isma’il Pasha), China’s relentless and historically significant push to establish new trading links between East and West—links that promise to revolutionize the world trading system no less than the Suez Canal—will come to define our era.

Two recent developments highlight how the new world is being invented by the Chinese—and how it will affect the Middle East and central Asia.

Dec 08 11:43

World’s largest printer of money is running out of cash

The company that prints the UK’s banknotes and currency for 140 other countries has issued a warning of possible collapse, saying there is “significant doubt” about its future.

The 198-year-old De La Rue has printed banknotes for the Bank of England since 1860. It is the largest commercial printer in the world, producing about a third of the world’s banknotes through contracts with 140 central banks. The firm has designed 36 percent of all banknote denominations in circulation, according to investment research company Edison Group.

De La Rue has been struggling over the last two years since losing the £400 million ($525 million) UK passport contract to a French rival. It has also been hit by an accelerating move away from cash towards contactless card payments and online transfers. Just last week, the company lost 20 percent of its value.

Dec 08 11:35

Trump Wants To Terminate NAFTA And Replace It With USMCA – Which Is UN Agenda 2030 in Disguise

Last week, President Donald Trump, outgoing Mexican President Enrique Peña Nieto, and Canadian Prime Minister Justin Trudeau met in Argentina and signed the new United States-Mexico-Canada Agreement (USMCA. This treaty is intended to further the political merger of these countries). USMCA, like NAFTA, stifles free trade, overrides national sovereignty, and increases the power of the UN and the World Trade Organization. The document obligates the US to follow UN Agenda 2030 and rule by unelected bureaucrats. -GEG

Dec 08 09:37

Globalization in a Sudden and Sharp Decline

Dec 08 07:05

Auto Loans Set Record High…

Dec 08 06:34

Alasdair Macleod: An Inflationary Depression

Dec 07 19:01

Russia's 600km Range Hypersonic Air Defence System Incoming - First S-500 Batteries to be Deployed in 2020

Russian Deputy Prime Minister Yuri Borisov has confirmed that serial production units of Russia’s S-500 surface to air missile system will be deployed by frontline units in the year 2020 - in line with the state’s ten year armaments plan adopted in 2018.

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