ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 21 07:56

Impoverished city spends $43-million on Amtrak station that may never be used

Nobody asked Amtrak if it wanted or needed a new station in Niagara Falls, New York

City leaders are yet to reach a deal with Amtrak regarding the new $43 million dollar train station in Niagara Falls.

As of Tuesday the new state-of-the-art train depot on Main Street was closed. The issue, there is no train servicing the station. That's because Niagara Falls City Leaders are still trying to reach an agreement with Amtrak on leasing the building. It's leaving several residents wondering if this train station will ever open.

Sep 20 18:47

Janet Yellen's "Footnote 8" - The Negative Rate 'Smoking Gun' That Everyone Missed

Yellen’s Jackson Hole speech was widely reported, so we’ll spare you the summary. What wasn’t widely reported was her Footnote 8. Yellen cited approving a mathematical formula that could put interest rates on autopilot. The Fed hasn’t yet followed the rule, but its presence in Yellen’s paper suggests its use is on the table. Footnote 8 lays the groundwork for negative rates.

Sep 20 15:12

A note on Deutsche Bank

Sep 20 14:28

Kmart to close 64 more stores; 7 reported in Michigan

Kmart, the mass-merchandise retail chain struggling with listing sales, is going to close 64 stores across the U.S., a person familiar with the matter said Monday.

According to Business Insider, the Michigan closings include stores in Jackson, Fenton, Manistee, Byron Center, Grand Rapids, Alpena and Sault Ste. Marie.

Liquidation sales will begin on Sept. 22, and the stores will close their doors in mid-December, according to a person familiar with the closings who did not want to be named because they were not allowed to say so publicly.

Sep 20 13:28

The “deplorables” — who we are and what we want

The narrative is already being set. International financiers, central bankers and media personalities are consistently mentioning the great danger of the “populists.” They say the deplorables are going to destroy the world. This is nonsense, of course. The world has already been destroyed by the banking elite and their cronies, but, the average person doesn’t really grasp this. We have to educate them quickly because we are about to be targeted as scapegoats for one of the greatest engineered fiscal catastrophes of all time.

Sep 20 12:22

Only In California - Governor Jerry Brown Signs Bill To Regulate Cow Flatulence

In yet another attack on California businesses, yesterday Governor Jerry Brown signed into law a bill (SB 1383) that requires the state to cut methane emissions from dairy cows and other animals by 40% by 2030. The bill is yet another massive blow to the agricultural industry in the state of California that has already suffered from the Governor's passage of a $15 minimum wage and a recent bill that makes California literally the only state in the entire country to provide overtime pay to seasonal agricultural workers after working 40 hours per week or 8 hours per day (see "California Just Passed A $1.7 Billion Tax On The Whole Country That No One Noticed").

According to a statement from Western United Dairymen CEO, Anja Raudabaugh, California's Air Resources Board wants to regulate animal methane emissions even though it admits there is no known method for achieving the the type of reduction sought by SB 1383.

Webmaster's Commentary: 

Brought to you courtesy of the State of California's Office of "You can't make this sh*t up"!!

Sep 20 12:06

USPS Inspector General reports massive increases in delayed mail

A new internal United States Postal Service report has documented a huge increase in delayed mail resulting from the United States Postal Service’s efforts to cut its costs.

The report by the Postal Service’s Office of Inspector General disclosed that the Jan. 5, 2015, order to eliminate overnight first-class mail service and to lengthen delivery times boosted the amount of “delayed mail” dramatically, reduced mail performance scores, and cut mail processing productivity while increasing transportation costs.

For the nine months following the new standard, the inspector general said delayed mail processing reports soared by 51 percent compared to the same period a year earlier.

Sep 20 11:20

Trade Wars and Food Wars: Obama and the Agribusiness Monopolies

Throughout Asia, Africa and Latin America, the agro-business control of chemical and seed inputs raises the debt burden on peasants and farmers while contaminating food with pesticides and provoking food riots and land occupation movements.

The impact of food insecurity, including debt and malnutrition, undermines community and family cohesion. This is the context in which armed insurgents have emerged, including the Islamist movements in the Middle East, North Africa and West Asia, gaining credibility and followers among the millions of dispossessed.

Sep 20 10:59

Aluminum in vaccines shown to cause neurological damage

Aluminum is not natural to the human body, and the known ‘safe limit’ is only 25 mcg. So, with this in mind, why are vaccine makers allowed to deliver nearly 5,000 mcg of aluminum into the delicate systems of newborn babies by the age of 18 months?

Aluminum’s stated function in vaccines is as an “adjuvant” to assist in the vaccine’s ability to have long-term effects in the body. While ingested aluminum can be expelled (fairly rapidly), the injectable type of aluminum used in vaccines stays in the body much longer. It has also been found to impact the nervous system in many harmful ways.

Aluminum linked to cognitive problems and motor functioning deficits
Researchers looking into this matter injected correlating amounts of aluminum into the bodies of mice to see what would occur. The mice quickly showed negative health effects including behavioral changes and deficits in motor functioning. They also showed cognitive problems directly related to being injected with aluminum.

Webmaster's Commentary: 

Please remember; the medical/industrial complex is generally not about health, but about profits.

If an infant gets ill as the result of a vaccine, well - as they say in the military - the kid was just "collateral damage" in the process of pumping maximized profits from a pharmaceutical product.

Sep 20 09:52

Elizabeth Warren Slams Wells' CEO Stumpf: "You Should Resign, You Should Be Criminally Investigated"

As was widely expected, the main event during today's John Stumpf hearing before the Senate Banking Committee was the moments when anti-bank crusader, Elizabeth Warren would get to the mic. She did not hold back, and immediately launched into a full-blown attack on the one topic Americans find most disturbing: the utter lack of accountability, despite Stumpf's repeaeted protestations to the contrary.

"Since this massive year's long scam came to light you have said 'I am accountable', but what have you done to hold yourself accountable? Have you resigned? Have you returned one nickel of the money you earned while this scandal was going on?" After Stumpf failed to respond, Warren replied in his stead: "I will take that as a no."

When Stumpf confirmed that he has not fired a single senior executives, Warren slammed what he called "gutless leadership."

Sep 20 09:24

WELLS FARGO CEO CALLED TO TESTIFY IN FRONT OF CONGRESS AS MASSIVE FRAUD FALLOUT GROWS

A House panel says it’s starting an investigation of Wells Fargo in its opening of millions of unauthorized accounts that has become a growing scandal. The House Financial Services Committee on Friday, Sept. 16, 2016, announced an investigation of the allegedly illegal activity by Wells Fargo employees to meet aggressive sales goals as well as the role of federal regulators in the debacle.

Webmaster's Commentary: 

OK, Wells Fargo got fined; but you can reasonably expect that Stumpf will not be charged with criminal fraud, because the rich rarely eat their own.

Sep 20 09:16

Israel To Get 38 Billion Dollars US Aid Package — Good Idea ?

WASHINGTON, Sept. 14 — President Barack Obama‘s administration pledged the United States’ largest-ever military aid package to Israel on Wednesday — nearly $40 billion over 10 years.

A "memorandum of understanding" committing the US to providing $38 billion in military aid to Israel over the next ten years.

Sep 20 08:17

Italy's PM Unloads On Deutsche Bank's Unfixable Problem: "Hundreds And Hundreds Of Billions Of Derivatives"

After a tumultuous week for Deutsche Bank which saw the DOJ demand a $14 billion settlement for the bank's past RMBS transgressions, it was another bad day for the giant German lender, whose stock and contingent converts tumbled after the investing community realized that even a modest $5.5 billion final settlement would leave it perilously undercapitalized and likely scrambling to raise more cash.

Sep 20 08:17

THE BANK FOR INTERNATIONAL SETTLEMENTS WARNS THAT A MAJOR DEBT MELTDOWN IN CHINA IS IMMINENT

The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China. Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history. At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars. That is essentially equivalent to the commercial banking systems of the United States and Japan combined. While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and it is only a matter of time before that debt bubble horribly bursts. The situation in China has already grown so dire that the Bank for International Settlements is sounding the alarm…

Normally the Bank for International Settlements is not prone to making extremely bold pronouncements, and so this warning about China seems a bit out of character.

Sep 20 08:13

Wels Fargo CEO Faces Senate 'Grilling'

Just when the images of Too-Big-To-Fail Bank CEOs facing faux-angry (but impotent under lobbying fees) politicians had moved to the back of the mind, Wells Fargo CEO John Stumpf will visit Capitol Hill to explain to the Senate Banking why he is "deeply sorry" about the massive and systemic fraud his bank visited upon Americans, and why he "accepts full responsibility" but will not resign (because he really owes it to the company to stay around and fix this mess).

As we previewed earlier, today at 10am, the US public will be treated to the latest Congressional kangaroo court, when Wells Fargo CEO John Stumpf will tell the Senate Banking Committee that he is "deeply sorry", and accepts “full responsibility” for unethical sales practices in its retail banking business while apologizing for “not doing more sooner” to address the cause of such behavior.

Sep 20 08:09

US companies are 'hoarding' a record $2.5 trillion of cash overseas

The recent fight between Apple, Ireland, and the European Union has once again shined a spotlight on the growing trend of US companies storing cash overseas to avoid taxes.
In fact, the amount of cash held by US-based companies in foreign countries hit a record $2.5 trillion in 2015, which is roughly 14% of the US' total GDP, according to Andrew Hunter, an economist at Capital Economics, who described the increase as companies "hoarding" cash overseas.

Sep 20 07:48

Apple’s new iPhone 7 cameras don’t live up to the hype: Consumer Reports

Still, this is what Consumer Reports found, or more appropriately, what it didn’t find: “So far, we’ve found no major leap in camera performance from the iPhone 6s models.”

Apple stock slumped 1% in afternoon trade Monday. It soared 11% last week, which was its best weekly performance in nearly five years, after wireless carriers announced stronger-than-expected demand for the new iPhone. In comparison, the Dow Jones Industrial Average DJIA, +0.28% fell about 38 points, or 0.2%, last week.

Sep 20 06:08

Why the Fed's Rate Decisions Are Irrelevant

Sep 19 18:49

Venezuela: Over 15% of People Eat Garbage to Survive

A new study finds Venezuela on the brink of famine, with an alarming fifteen percent of citizens saying they can only feed themselves with “food waste discarded by commercial establishments,” while nearly half say they have had to take time off work to search for food.

Sep 19 15:14

So Much for the Obama Recovery

Sep 19 11:51

Future aid to Ukraine in jeopardy over gas monopoly takeover

Ukraine may lose hundreds of millions of dollars in aid after a surprise decision by the government to take direct control over the country's gas production and transportation company.

The takeover may be in violation of the $17.5 billion bailout deal with international creditors and comes just days after Kiev received a $1 billion tranche from the International Monetary Fund (IMF).

“If all the facts we have learned from third parties are confirmed, we are very disturbed and this development is very serious,” said Anton Usov, a spokesperson for the European Bank for Reconstruction and Development, quoted by the Financial Times.

According to the newspaper, another lender to Ukraine, the World Bank, is also concerned about the situation with Naftogaz.

Webmaster's Commentary: 

Ukrainians are not going to be happy in dealing with high energy costs (if they can even get it) coupled with freezing temperatures this winter!!

Sep 19 10:52

Native Americans Document Hundreds of Pipeline Leaks and Oil Spills Kept Secret by North Dakota Government

North Dakota’s oil frenzy is leaking like a sieve. You most likely have not heard about it because fracking companies, pipeline owners, and state officials have been keeping information about hundreds of oil spills secret for years.

According to Natives News, After a huge spill of more than 20,000 barrels on a wheat farm was hushed up for 11 days, the Associated press discovered the extent of the years-long cover up:

Records obtained by the AP show that so far this year, North Dakota has recorded 139 pipeline leaks that spilled a total of 735 barrels of oil. In 2012, there were 153 pipeline leaks that spilled 495 barrels of oil, data shows.

A little more than half of the spills companies reported to North Dakota occurred “on-site,” where a well is connected to a pipeline, and most were fewer than 10 barrels. The remainder of the spills occurred along the state’s labyrinth of pipelines.

Sep 19 10:20

Why Warren Buffett wants to sell you a car

The chairman of Berkshire Hathaway BRK.A, -0.22% BRK.B, +0.20% is noted for keeping things simple. Buffett chooses businesses with protective “moats” around them, insulating them from competition, and bets big when he finds one.

Indeed, reports show that the return on equity for the average U.S. auto dealership in 2013 was 29%. How can selling cars have a “moat” or produce such big returns? After all, the theory of capitalism suggests that free competition should destroy such prodigious returns when they periodically arise.

The answer: government protection. Every U.S. state except Maryland regulates automobile distribution through “franchise laws” that strengthen dealers’ power. Dealers are not employees of the manufacturers, but have enormous sway over the manufacturers.

Sep 19 09:43

Are You Ready for the 2017 Recession?

Sep 19 09:19

William Black: Fraud is the basis of ALL profit in the banking industry at this point.

In the interview, he addresses the “systemic risk” of the banking sector in the US, and how the bulk of the at-risk institutions are here in the US. He also calls out the elephant in the room, that fraud is the basis of ALL profit in the banking industry at this point.

Sep 19 09:11

Obama says a low turnout from black voters in upcoming presidential election would be 'a personal insult' to his legacy

President Barack Obama said Saturday night he will take it as a 'personal insult' if the African-American community fails to turn out for the presidential election and encouraged black voters to support Democratic candidate Hillary Clinton.

Obama delivered his final keynote address to the Congressional Black Caucus Foundation, symbolically passing the torch to the person he hopes will succeed him next year.

Clinton, his former secretary of state, was honored for becoming the first female presidential nominee of a major party.

Obama said his name may not be on the ballot, but issues of importance to the black community were, including justice, good schools and ending mass incarceration.

Webmaster's Commentary: 

There are moments when I have to conclude that President Obama lives in a parallel reality from that with which so many African-Americans have to contend, 24/7.

As reported at nationalreview.com in March of this year:

With President Obama’s gas tank now less than an eighth full, it’s amazing where he has taken black Americans. Mainly, it’s been a long ride in reverse. Even liberal black broadcaster Tavis Smiley has criticized Obama for this. As Smiley told HuffPost Live’s Alyona Minkovski, “Sadly — and it pains me to say this — over the last decade, black folk, in the era of Obama, have lost ground in every major economic category.” Smiley is almost completely correct. Based on the Obama administration’s own latest-available statistics by the most basic economic-performance metrics — with one key exception — black Americans are worse off now than when Obama was sworn in on January 20, 2009. During Obama’s tenure, the percentage of black Americans struggling below the poverty line has advanced, according to the most recent Census Bureau data, from 25.8 in 2009 to 26.2 in 2014 — up 1.6 percent. Real median income among black households during those years, according to the Census Bureau, sank from $35,954 to $35,398 — down 1.5 percent. RELATED: Obama’s Legacy Is Already Collapsing The number of black food-stamp participants exploded across that time frame from 7,393,000 to 11,699,000, the U.S. Department of Agriculture reports — up 58.2 percent. Also, from Obama’s oath of office through the fourth quarter of 2015, the percentage of black Americans who own homes foundered from 46.1 percent to 41.9 percent, according to the Census — down 9.1 percent.

And those issues of "...justice, good schools and ending mass incarceration."?!?

In the words of Tony Soprano, for African Americans, "Fuggetaboutit!!", at least under President Obama's watch. Justice for African Americans, unless one has the (past) wealth of an OJ Simpson simply does not exist ; inner city schools resemble minimum security prisons, complete with guards; and the prisons themselves are overloaded to the max.

Sep 19 08:34

6 STATES FACING POSSIBLE GAS SHORTAGES AFTER COLONIAL PIPELINE SPILL

The number of eggs in one basket with this thing is insane.

Via: ABC:

Six states — Tennessee, Virginia, Georgia, South Carolina, Alabama and North Carolina — are facing possible gas shortages after a pipeline spill, officials said.

The states have all declared states of emergency, citing concerns about “fuel supply disruptions” and “disruptions of gasoline” in the wake of the Colonial Pipeline spill.

The governor of North Carolina declared the state of emergency to “help ensure that there will be adequate supplies of fuel across the state and prevent excessive fuel pricing.”

Prices on futures contracts for wholesale gasoline rose about 2 percent Friday to $1.46 a gallon after rising 5 percent on Thursday.

Long lines have quickly amassed at gas stations in the six states, and social media users took to their accounts to document the chaos and dwindling gasoline supply, in some cases. Below, images from Tennessee.

Webmaster's Commentary: 

As reported at wikipedia.org:

Spill history[edit] Early on September 2, 1970, residents of Jacksonville, Maryland, detected gasoline odors and noticed gasoline in a small creek flowing beneath a nearby road. Because fumes were still present in the late afternoon of September 2, a resident notified Colonial at 6:19 p.m. about the situation. Colonial, which had a 30-inch-diameter pipeline situated about 1,700 feet east of the point where the creek passed under the road, shut down the Dorsey Junction, Maryland, pump station (the initial pump station for this section of the pipeline) at 6:34 p.m. About 12 hours later, on the morning of September 3, an explosion and fire occurred in a ditch in which contractor personnel for Colonial were manually digging to further expose the pipeline and catch gasoline trickling from the ground. Five persons were injured, none fatally. The leak point was found four days later. The failure resulted in a release of 30,186 gallons (718 barrels) of gasoline and kerosene.[9] At 9:51 p.m. on December 19, 1991, Colonial's Line 2, a 36-inch-diameter petroleum products pipeline, ruptured about 2.8 miles downstream of the company's Simpsonville, South Carolina, pump station. The rupture allowed more than 500,000 gallons (13,100 barrels) of Diesel fuel to flow into Durbin Creek, causing environmental damage that affected 26 miles of waterways, including the Enoree River, which flows through Sumter National Forest. The spill also forced Clinton and Whitmire, South Carolina, to use alternative water supplies.[10] On Sunday, March 28, 1993 at 8:48 a.m., a pressurized 36-inch-diameter (910 mm) petroleum product pipeline owned and operated by Colonial Pipeline Company ruptured near Herndon, Virginia. The rupture created a geyser that sprayed Diesel fuel over 75 feet (23 m) into the air, coating overhead power lines and adjacent trees, and misting adjacent Virginia Electric & Power Company buildings. The Diesel fuel spewed from the rupture into an adjacent storm water management pond and flowed overland and through a network of storm sewer pipes before reaching Sugarland Run Creek, a tributary of the Potomac River. In October 1994, after heavy rainfall in the Houston area, failures of eight pipelines occurred with damage to 29 others. Two of the failures included Colonial Pipeline lines. The failures occurred at a crossing of the San Jacinto river. The river, which normally flows at 2.5 feet above sea level, crested at 28 feet above sea level on October 21. The river caused major soil erosion. Colonial's 40-inch gasoline pipeline failed on October 20 at 8:31 a.m. and by 9:51 a.m. explosions and fires erupted on the river. Colonial's 36-inch (Diesel) pipeline ruptured about 2 p.m. on the same day, although it had previously been temporarily out of service and that limited the amount of the spill.[11] In 1996, a 36-inch diameter Colonial pipeline ruptured at the Reedy River, near Fork Shoals, South Carolina, June 26. The ruptured pipeline released about 957,600 US gallons (3,625,000 L) of fuel oil into the Reedy River and surrounding areas. The spill polluted a 34-mile (55 km) stretch of the Reedy River, causing significant environmental damage. Floating oil extended about 23 miles (37 km) down the river. Approximately 35,000 fish were killed, along with other aquatic organisms and wildlife. The estimated cost to Colonial Pipeline for cleanup and settlement with the State of South Carolina was $20.5 million. No one was injured in the accident. The pipeline was operating at reduced pressure due to known corrosion issues, but pipeline operator confusion led to an accidental return to normal pressure in that pipeline section, causing the rupture.[12][13][14] In 1997 On May 30, Colonial Pipeline spilled approximately 18,900 US gallons (72,000 L) of gasoline, some of which entered an unnamed creek and its adjoining shoreline in the Bear Creek watershed near Athens, Georgia. During the spill, a vapor cloud of gasoline formed, causing several Colonial employees to flee for safety. This spill resulted from a calculation error related to a regular procedure. No one checked the calculations, nor did Colonial have a procedure in place to check such calculations.[12] Due to seven different spills on Colonial Pipeline in four years, the United States Environmental Protection Agency (EPA) fined Colonial $34 million on April 1, 2003.[15] On Wednesday, October 3, 2012, Colonial Pipeline shut down line 19 and 20 in Chattanooga, Tennessee due to reports of gasoline odors. It was reported that about 500 gallons of gasoline may have been released.[16] The line carrying gasoline was repaired and the distillate line, which carries Diesel fuel, jet fuel and other products, was inspected and found to be undamaged. Both lines were restarted two days later on October 5, 2012.[17] On Friday, September 9, 2016, a leak was detected in Shelby County, Alabama, spilling an estimated 336,000 US gallons (160,000 L) of summer-grade gasoline, requiring a partial shutdown of the pipeline and threatening fuel shortages in the southeastern United States.[18][19]

Forgive me, but does anyone see a pattern here?!?

This company is estimated to have an annual revenue of around 326 million dollars, US.

Colonial Pipeline Revenue

Leaks like this are a result of sloppy maintenance; wherever the money was going, it hasn't been going into preventative measures which could have stopped this before it became a crisis of such monumental proportions.

Sep 19 08:06

Hillary chooses Obama’s road to fiscal ruin

Hillary Clinton stands at a fork in the federal fiscal policy road. In one direction runs Bill Clinton’s performance; in the other, Barack Obama’s. Despite claiming both legacies, all indications are that Hillary is choosing President Obama’s direction.

There could not be a greater divide between the last two Democratic administrations than in fiscal policy. While Mr. Clinton’s course was thrust upon him by a Republican Congress, it proved his greatest legacy. In contrast, Mr. Obama has followed his own course and it has become one of his administration’s weakest areas.

Bolstered by an economy already in recovery in 1992 and a tax hike he later admitted was too large, Mr. Clinton saw revenues during his eight years in office that averaged $1.5 trillion — $455 billion above their 1992 level. Federal spending averaged $1.6 trillion from 1993 to 2000 — $205 billion above its 1992 level. The period’s average deficit was just $40 billion — $250 billion lower than 1992’s.

Sep 19 07:37

Circuit Firings Only The Beginning

When President Bill Clinton signed off on the North American Free Trade Agreement and the General Agreement on Trade & Tariffs in 1993, otherwise known as NAFTA/GATT, he quite literally slashed the economic throat of the United States. We've been hemorrhaging jobs to foreign nations like Communist China ever since.

Sep 18 17:01

Deutsche Bank refuses to pay $14bn US penalty

Germany’s biggest bank says it won't pay a $14 billion US Department of Justice (DoJ) fine for selling mortgage-backed securities that contributed to the 2008 financial crisis.

Webmaster's Commentary: 

Start seizing assets!

Sep 18 16:59

Berkshire Hathaway Gets Slapped With an $18 Million Lawsuit

Last Friday, the courier service filed a lawsuit with the N.Y. State Supreme Court for $18 million, claiming it received worker’s compensation coverage that was actually a complex and risky investment vehicle. Breakaway said the discounted Berkshire package it bought in 2009 was really an expensive “reinsurance” program that required employers to cover each other’s losses.

Sep 18 16:10

It's Difficult To Be Disciplined In A Bubble

Sep 18 15:58

Protection From Looting Government

The autumn of 2016 has for some time looked like a period when dark clouds will move in over the world economy. Therefore, it was not surprising to see the first sign of things to come in the next few months. In one day the Dow erased all the gains since early July with an almost 400 point fall. Since the beginning of the year the Dow is now up a pitiful 4%. Almost 8 years of ZERO interest rates have not managed to revive the US economy, nor the world economy. On a longer timeframe the Dow, together with many other markets, looks extremely vulnerable.

Sep 18 13:01

Actress Kimberlin Brown : Business Women for Trump

“One third of small businesses are owned by women…

“To the 9.5 million women business owners, who employ about 8 million workers, adding value about 1.5 trillion dollars to our economy; I urge you to think about how important this election is for your future…

“Who do you think better understands your challenges ?

“A career Washington insider… OR A successful businessman who knows how to make a pay roll…?

Sep 18 12:56

If Trumps Wins, Hillary and Bill Clinton Go To Jail!

The gloves are off and Hillary is being pummeled. This is much more than death by a thousand cuts.

The events of the past week have made it clear that this is not only a fight for who becomes president.

Sep 18 12:50

Israel To Get 38 Billion Dollars US Aid Package — Good Idea ?

WASHINGTON, Sept. 14 (UPI) — President Barack Obama‘s administration pledged the United States’ largest-ever military aid package to Israel on Wednesday — nearly $40 billion over 10 years.

Philip Giraldi joins today’s Liberty Report to break down the agreement and discuss whether it really does, as Rice claims, benefit US security.

A "memorandum of understanding" committing the US to providing $38 billion in military aid to Israel over the next ten years.

Sep 18 11:41

Video: How EU Policies Have Fueled Economic Stagnation

No nations in the European Union are experiencing a recovery, says economist Heiner Flassbeck.

Sep 18 09:36

George Soros: A psychopath’s psychopath

According to Soros, Russia’s strategy is to “avoid collapse by making the EU implode first – by exacerbating the migration crisis and stoking Islamophobia”.

On February 11, the Guardian ran an article by George Soros which had run a day earlier here entitled “Putin is a bigger threat to Europe’s existence than Isis.”

After a quick check of my vital signs, I confirmed that I was indeed awake and the article was real and in the Guardian not The Onion. Before I look at the tissue of untruths which make up the substance of Soros’ article, a few general words about psychopaths are in order.

Sep 18 09:27

All of the world's physical currency, gold, silver, and bitcoin is worth $12.7 trillion. The size of the national debt is nearly $20 trillion.

The U.S. national debt is one of those numbers. It currently sits at $19.5 trillion, which is actually such a large number that it is truly difficult for the average person to comprehend.

Sep 18 06:12

‘Emperor’s New Clothes’ event: be prepared to use all you’ve learned to assist transition to victory, whether a wild or easy ride into the future we’ll finally earn

*hyperlinks/video live at source*

assist: In basketball, an assist is attributed to a player who passes the ball to a teammate in a way that leads to a score, meaning that he or she was “assisting” in the basket.

Life is a team sport.

The time is coming for We the Informed to assist We the People to process facts we’ve been trailblazing on our journeys for truth. As you’ve no doubt observed, We the People suffer from cognitive dissonance, many forms of poisoning: so-called “food,” air, water, “vaccines,” “education,” and God knows what else from a .01% criminal class hell-bent on parasitic ongoing rogue state empire.

Readers of this blog are aware of enough from the ~100 game-changing areas of facts to conclude that some kind of Emperor’s New Clothes event is coming.

The disclosure of facts will be sufficiently definitive to cause the breakthrough we’ve all been working for:

Sep 17 16:48

Hillary’s Sicko Relationship… With the Fed

Hillary Clinton apparently believes that there are four branches of government, not three and that the fourth branch – the Sacred Fed – should never be criticized by any of the other three. It’s OK for President Obama to criticize the Supreme Court during a state-of-the-union address; and for congress and the executive branch to engage in verbal sparring on a daily basis; but no president (let alone a lowly congressman) should ever make a negative comment about the Sacred Fed, according to the Hillary Doctrine.

Sep 17 15:19

Three ways the banks are scamming you

Sep 17 15:19

One Company Controls 80 Percent Of Glasses

Sep 17 11:37

$91 Billion Spent on Asymmetric Deterrence

The United States spent $580.7 billion on defence in 1989. The USSR could afford $318.6 billion, while China spent just $20.2 billion. In 2015, the United States spent $595 billion on defence. Russia spent $91 billion and China spent $214 billion...

Sep 17 11:10

George Friedman: Italy Is the Mother of All Systemic Threats

Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, the Italian crisis would still have been gathering speed.

The high level of non-performing loans (NPLs) has been a problem since before Brexit. It is clear that there is nothing in the Italian economy that can reduce them. Only a dramatic improvement in the economy would make it possible to repay these loans. And Europe’s economy cannot improve drastically enough to help. We have been in crisis for quite a while.

Banks were simply carrying loans as non-performing that were actually in default and discounting the NPLs rather than writing them off. But that only hid the obvious. As much as 17 percent of Italy’s loans will not be repaid. This will crush Italian banks' balance sheets. And this will not only be in Italy.

Sep 17 11:07

Alabama, Tennessee, & Georgia Declare States Of Emergency As Gas Shortages Loom After Pipeline Leak

As Native Americans protesters face arrest in North Dakota for blocking the construction of the Dakota Access Pipeline, TheAntiMedia's Carey Wedler reports a gasoline pipeline spill is currently unfolding in the South. The leak has prompted Alabama Gov. Robert Bentley, Tennessee Gov. Bill Haslam, and Georgia Gov. Nathan Deal to declare states of emergency.

The Colonial Pipeline, which runs from Houston to New York, began leaking on September 9, spilling 250,000 gallons of gasoline, or 6,000 barrels. The pipeline was built in 1962, and the current leak in Helena, Alabama, is the largest one Colonial Pipeline has experienced in 20 years, Reuters noted.

Webmaster's Commentary: 

Also, as reported this morning at activistpost.com:

This whole situation keeps getting worse and worse. It seems to be growing by the day. When Colonial Pipeline originally announced the leak, it was reported that a mere 1,000 barrels of gas had leaked, or said another way, approximately 45,000 gallons. It was then increased to 250,000 gallons – more than a 5-fold increase. Now it has reached more than an 8-fold increase from the original estimate. Do they actually know how much damage has been done and do they know how much gas has leaked out? The Sept. 9 break has leaked 6,000 barrels (approximately 250,000 gallons) of fuel into Shelby County, Alabama, the operator estimated, up from its original estimation of 1,000 barrels. The cause of the leak is currently unclear. Source The more I dig into this gas pipeline leak situation the worse it gets. As we reported yesterday the Colonial Pipeline that pumps gasoline from Houston, Tx to southern New York state became damaged on Friday September 9, 2016. Major news sources didn’t begin reporting this incident until Tuesday, September 13, 2016 and national news services first reported on it beginning Friday September 16, 2016 a full week later. Somewhere between regional news and national news coverage of a 250,000 gallon leak in south central Alabama the governors of Alabama and Georgia announce there is a state of emergency. The leak is outside Birmingham, AL and the gas would have some area to cover to reach Georgia. So far this whole situation is beginning to smell funny and it’s not just the gas fumes.

To our readers and listeners in the affected areas; please make sure that your car and truck tanks get filled soon, because there is a distinct possibility that your local gas stations may well be out of gas before you get there.

Also, make sure you have potable water; storable food; extra medications; and off-grid power available, if possible. The fix for this leak may turn out to be a really time-intensive mess.

Sep 17 10:54

Gov. Kasich Visits Obama at White House for TPP Push Meeting

He lost badly in the Republican presidential primary election to now-nominee Donald Trump, refused to attend the Republican National convention in the state where he is governor, and now John Kasich is visiting President Barack Obama in the White House to help Obama pass the highly controversial trade agreement, the Trans Pacific Partnership (TPP).
“We now have a unique opportunity, again to put country in front of politics,” Kasich said during a White House press briefing along with Atlanta Mayor Kasim Reed who also attended the meeting. “The two nations that most vociferously oppose this agreement are China…” he continued, also mentioning Vladimir Putin.

Webmaster's Commentary: 

A short memo to John Kasich: no sir, this treaty does NOT put country in front of politics; it puts corporations WAY in front of the citizens of this country!

As reported at huffingtonpost.com in May 2016:

So the fast track plan to pass the Trans-Pacific Partnership has run into a new wrinkle after an amendment passed in the Senate debate: slavery. Yes, really, slavery: the Senate voted for an amendment that would make it more difficult for countries that engage in slavery to be in the TPP, and the Obama administration objected. This is bizarre stuff, folks, but welcome to the world of international trade deals. From Ryan Grim’s article the day Fast Track was passed, about the amendment in question: That measure would bar governments considered to be complicit in human trafficking from receiving the economic benefits of a fast-tracked trade deal. Menendez, the author of the provision, has described it as a human rights protection that will prevent U.S. workers from competing with modern-day slave labor. The administration has pushed against the provision, saying it would prevent Malaysia from participating in the deal, and eliminate incentives for the country to upgrade its human trafficking enforcement. Human rights advocates strongly support the language that passed the Senate on Friday. The president argues that if the U.S. doesn’t cut deals with these partner countries, China will, to U.S. disadvantage. The State Department’s human trafficking analysis of Malaysia describes the country as “a destination and, to a lesser extent, a source and transit country for men, women, and children subjected to forced labor and women and children subjected to sex trafficking.” The department cites forced labor problems in Malaysia’s palm oil industry, and nonprofit groups have noted similar abuses in the Malaysian electronics industry. The State Department report says Malaysian ‘public officials... may profit from trafficking.’ The President does not want an anti-slavery provision in what he calls the “most progressive trade deal of all time” because it would keep a country noted for its egregious slave trade out of the treaty? I have to admit this bothers me just a little. Okay, a massive amount. We’re not going to object to slavery because a country that openly engages in it might trade more with China than with us? Doesn’t this kind of blow up the whole “most progressive trade agreement in history” thing?

In fact, will the approval of such a treaty by Congress indicate that it, too ,is just FINE with child and slave labor in this country, in order to compete with corporations in countries already doing this to lower their bottom line?!?

Is the approval of this treaty setting the stage, and creating the legal precedent, for the return of child and slave labor in this country?!?

Congressional approval of this treaty may well be opening a door to a very sordid place from American history I think very few Americans would want to, willingly, revisit.

Congressional representatives, you have been duly warned; if you want to keep your seats in Congress, do not ratify this treaty, period, end of discussion!!

Sep 17 10:24

US Renews Sanctions and Keeps Blockade on Cuba

U.S. President Barack Obama renewed on Tuesday for another year the Trading with the Enemy Act, extending the economic blockade originally imposed on Cuba more than 50 years ago.

“I hereby determine that the continuation for one year of the exercise of those authorities with respect to Cuba is in the national interest of the United States,” Obama said in a statement.

The restrictions will remain in effect until Sept. 14, 2017.

In Dec. 2014, Obama announced the normalization of relations with Cuba after more than 50 years of hostilities. The two countries reopened their respective embassies in July 2015, but the blockade remains in effect.

The law maintains the economic embargo on the island, which ultimately can only be lifted by the U.S. Congress.

President John F. Kennedy first imposed the economic blockade against Cuba in 1962. It has since been renewed every year by the following nine presidents.

Webmaster's Commentary: 

What the hell?!?

How in the name of Sam Hill can you alleged that you are "normalizing" relations with another country you are still blockading economically?!?

I'm getting geopolitical whiplash, upon reading this; talk about carrying a grudge, for Pete's sake!!

Sep 17 09:54

Ravaged by conflict, Yemen's coast faces rising malnutrition

Sitting by her son's hospital bed, Houdaid Masbah looks at her 5-year-old boy's skeletal body and sunken cheeks, helplessness engulfing her like a thick cloud — a desperation she shares with many other mothers in Hodeidah.

Even before the war, Hodeidah was one of the poorest cities in Yemen, the Arab world's most impoverished nation. Now, the destruction of the port city's fishing boats and infrastructure by the Saudi-led coalition's airstrikes over the past 18 months of war has deprived the townspeople of their prime livelihood.

The U.N. estimates that about 100,000 children under the age of five in the city and the surrounding province, also called Hodeidah, are at risk of severe malnutrition.

Webmaster's Commentary: 

Chronic malnutrition, after a point, leaves a child mentally crushed for life, and physically disabled; there is only some level of restoration possible to physical and mental capabilities, but the kid may never be "normal".

Take a good, hard look at this haunted, hungry face; then imagine, for one second, that this was your kid, and you are powerless to help them.

US government is facilitating this massive epidemic of malnutrition in Yemen, by being a partner in war crimes to the Saudi government

Sep 17 07:17

Draghi Cannot Admit He is Wrong

Sep 17 06:59

KMART QUIETLY ANNOUNCES 60 STORE CLOSINGS...

Sep 16 15:56

Tom Dyson: Retirees need to see this chart

Sep 16 15:38

Deutsche Bonds "Dropping Like A Stone" As 'Most Dangerous Bank In The World' Plummets

"They are dropping like a stone," warns one European credit strategist as signals from the bottom of Deutsche Bank's capital structure signal a "huge increase in the potential for a coupon skip." With DB stock tumbling towards record lows again (EUR 11 handle), Bloomberg reports, the bank’s 1.75 billion euros ($2 billion) of 6% additional Tier 1 bonds, the first notes to take losses in a crisis, are crashing... as the world's most systemically dangerous bank faces existential problems once again.

Sep 16 13:32

Grand Ascension or Great Collapse?

Sep 16 12:38

CENTRAL BANK DIGITAL CURRENCIES: A REVOLUTION IN BANKING?

Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse)

Sep 16 12:27

SMILE: IMF Chief Christine Lagarde to Face Trial in French Court

Once in while, a feel good story comes around. As we covered in our recent episode of ON THE QT @21WIRE.TV, the thought of IMF head Christine Lagarde facing trial over her $440 million pay-off to elite insider Bernard Tapie – a certain to bring a smile to many. For years, the public have had to endure watching globalist elites swooning around their jet-set circuit, from Aspen, to Wall Street, to the World Economic Forum in Davos, as they pontificate about ‘economics’, and alongside their pop culture mascots like Bono from U2 seated comfortably in their Gulfstream Jets, they claim to pedalling “solutions’ and that they are somehow saving the world’s poor from abject poverty.

Sep 16 09:53

Economic costs of Middle East wars exceptionally high: IMF study

Armed conflicts in the Middle East and North Africa are not only devastating the economies gripped by fighting, but are sapping growth in neighboring countries and those hosting millions of refugees, the International Monetary Fund said Friday.

In a new study analyzing 179 conflict countries since 1970 to quantify economic costs, the IMF found that the drops in economic output in war-torn Syria, Libya and Yemen in recent years have far exceeded the worldwide average.

Sep 16 09:50

Trump’s New Deal: “Hillary Offers A Welfare Check, I Will Produce Paychecks”

In terms of rhetoric, which has historically made major departures from actions, this campaign boils down the economic uncertainty that is enveloping this nation.

With millions of people out of work, worried about finding employment or facing grave doubts about a future transformed by technological labor, Trump is honing in on the most psychologically pressing issues on the minds of the real Americans in flyover country.

They are the ones who are feeling the hurt financially, not Wall Street.

It is they who must be convinced to support the government again.

Sep 16 09:44

Deutsche Bank to fight $14 billion demand from U.S. authorities

Deutsche Bank (DBKGn.DE) said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed securities, a shock bill that raises questions about the future of Germany's largest lender.

The claim against Deutsche, which is likely to trigger several months of talks, far exceeds the bank's expectations that the DoJ would be looking for a figure of only up to 3 billion euros ($3.4 billion).

The demand adds to the problems facing Deutsche Bank's Chief Executive John Cryan, a Briton who has been in the job for a year.

The bank only scraped through European stress tests in July and has warned it may need deeper cost cuts to turn itself around after revenue fell sharply in the second quarter due to challenging markets and low interest rates.

Webmaster's Commentary: 

Any yet, if in fact these allegations prove true (and I do not doubt for a second that they are), there are no criminal indictments against any of the US Deutsche Bank executives who signed off on these business practices?!?

Sep 16 09:38

Leak From Biggest U.S. Gasoline Pipe Sparks ‘Red Alert’

Gasoline prices are set to jump across the eastern U.S. after a spill from the country’s largest fuel pipeline choked off supplies.
A leak in Alabama Sept. 9 shut the main gasoline pipeline delivering fuel from refineries along the Gulf Coast to 50 million Americans in states from Mississippi to New Jersey. Colonial Pipeline Co. said on Thursday it pushed back the estimate for a complete startup of its Line 1 to next week from this weekend, citing adverse weather conditions overnight that slowed the cleanup and repair.

Suppliers are moving gasoline and diesel by sea and sending trucks to distant terminals to bring fuel to consumers, but it won’t come close to the 1.3 million barrels a day that the shuttered line normally carries.

Webmaster's Commentary: 

This, coupled with the bankruptcy of the South Korean shipping company Hanjin, is going to have a cascade effect on the delivery of goods here in the US.

If you have the ability to stock up now on some basics, you might want to do that, particularly if you live in the Eastern and Southern parts of the US.

Sep 16 08:55

Harvard Business School:  Problems Unsolved And A Nation Divided — The State Of U.S. Competitiveness 2016

This report provides an overview of our findings on the evolution of the U.S. economy, the state of U.S. competitiveness in 2016, and priorities for the next President and Congress, drawing on our research and the May–June 2016 surveys of alumni and the general public.

While a slow recovery is underway, fundamentally weak U.S. economic performance continues and is leaving many Americans behind. The federal government has made no meaningful progress on the critical policy steps to restore U.S. competitiveness in the last decade or more.

Sep 16 08:54

Elizabeth Warren Asks Newly Chatty FBI Director to Explain Why DOJ Didn’t Prosecute Banksters

LIKE A LOT OF other Americans, Sen. Elizabeth Warren wants to know why the Department of Justice hasn’t criminally prosecuted any of the major players responsible for the 2008 financial crisis.

On Thursday, Warren released two highly provocative letters demanding some explanations. One is to DOJ Inspector General Michael Horowitz, requesting a review of how federal law enforcement managed to whiff on all 11 substantive criminal referrals submitted by the Financial Crisis Inquiry Commission (FCIC), a panel set up to examine the causes of the 2008 meltdown.

Sep 16 08:32

Greek Economic Reforms Socially Oriented, Exclude Radical Measures

The program of reforms being implemented in Greece excludes radical austerity measures in order to avoid escalation of tensions inside the country, Speaker of the Hellenic Parliament Nikolaos Voutsis told Sputnik.

Webmaster's Commentary: 

"No, no, no, no, NO! You crush them! Starve them! Take all their wealth and give it to US!" -- Brussels Spouts

Sep 16 08:30

Harvard Crushes The "Obama Recovery" Farce With 9 Simple Charts

A couple of months back we posted 9 charts that, at least in our minds, debunked the myth of the "Obama Recovery" despite suggestions from the administration that any such efforts were just a futile attempt at "peddling fiction"

Sep 16 08:29

EU Bail In Rules Ignored By Italy – Mother Of All Systemic Threats and World War?

Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, the Italian crisis would still have been gathering speed.

Sep 16 08:25

Iran oil exports at highest level since 2012

The latest shipping data show that Iran’s exports of crude oil in August increased 15 percent from July and exceeded 2 million barrels per day (mb/d) – the highest level in almost five years.

Sep 16 08:06

USA Watchdog Interview: Current Stock And Bond Bubbles Much Worse Than 1929

Economic expert and best-selling author David Stockman offers a dire view of the deep financial trouble America faces in his new book titled “Trumped!” Stockman warns, “I think we are on the very edge, but what is different this time and makes it scarier . . . is I believe the central banks that ruled the roost have gone from one extreme to the next and done unfathomable things like negative interest rates on $13 trillion of bonds around the world, monetization of the debt, and bond purchases that are staggering such as $90 billion a month in Europe. . . . So, this time, as the phrase goes, they went all in.

Sep 16 08:03

Putin Bans Rothschilds From Russia

Putin played the New World Order game long enough to climb as high as the position of President - then he abruptly turned his back on them, prompting Jacob Rothschild to accuse him of being a "traitor to the New World Order."

Webmaster's Commentary: 

And that was the moment Russia went from being a friend of the USA to the top of the US Government's Special High Interest Targets list!

Sep 16 07:53

Here Are The "Lines Of People" Waiting For The New iPhone 7

After several spurious reports of substantial preorder spikes for the iPhone 7 by the likes of T-Mobile - if not so much Verizon - AAPL stock enjoyed the biggest weekly surge in years. However, judging by the "lines of people" waiting for the new gadget as it officially goes on sale in retail outlets, said surge in the stock may have been premature, and merely the latest marketing gimmick that has made a "scarcity" factory into a sublime art form.

Webmaster's Commentary: 

The only thing that is scarce are customers!

Sep 16 07:37

Elizabeth Warren still plans to make heads roll over the financial crisis

It's been eight years since the financial crisis, but some wounds remain unhealed: Among them, the Obama administration's almost total failure to prosecute senior Wall Street executives for the criminal activities that helped precipitate the collapse. On Thursday, Sen. Elizabeth Warren (D-Mass.) put law enforcement on notice that she's not prepared to let the issue die.

Sep 15 16:36

Bernanke Urges Use Of Negative Rates When Next Recession Strikes

"the fact that negative rates would be temporary and deployed only during severely adverse economic conditions would be an advantage. Like quantitative easing, which was also unpopular in many quarters, a period of negative rates would probably be tolerated by politicians if properly motivated and explained" - Ben Bernanke

Sep 15 15:52

ANOTHER BILLIONAIRE WARNS OF CATASTROPHIC DEPTHS NOT SEEN IN 5,000 YEARS – AND EMPHASIZES GOLD

In past issues, we’ve documented increasingly concerned billionaires warning of dangerous economic times. Many have favored gold as an alternative allocation in a world where $13 trillion-worth of debt is negative yielding, interest rates are artificially suppressed and we’re on the brink of major wars.

The newest addition to this gold-loving billionaire’s club, is none other than hedge-fund manager Paul Singer. At CNBC’s Delivering Alpha Investors Conference this week, the founder of the $27-billion Elliott Management Fund, the 17th largest hedge fund in the world, mentioned that at current prices gold is “undervalued” and “underrepresented in many portfolios as the only … store of value that has stood the test of time.”

Sep 15 14:33

How did George Soros "break the Bank of England"?

In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn't actually break it, but they forced the British government to pull it from the European Exchange Rate Mechanism (ERM). Joining the ERM was part of Britain's effort to help along the unification of the European economies. However, in the imperialistic style of old, she had tried to stack the deck.

Although it stood apart from European currencies, the British pound had shadowed the German mark in the period leading up to the 1990s. Unfortunately, the desire to "keep up with the Joneses" left Britain with low interest rates and high inflation. Britain entered the ERM with the express desire to keep its currency above 2.7 marks to the pound. This was fundamentally unsound because Britain's inflation rate was many times that of Germany's. (Keep reading about this in Stop Keeping Up With The Joneses - They're Broke.)

Sep 15 13:35

Bank of America Analysts: 50% Chance We Live in the Matrix… Literally

What the hell is a bank saying stuff like that to their clients for anyway? Consider what your conception of a bank is. I guess they deal in fake money on manipulated stock markets, so that makes them experts on what is and isn’t real?

(read more)

Sep 15 12:48

US Political System Hurting Economy: Study

The US political gridlock in Washington is the main source of the country’s sluggish economic growth and declining competitiveness in recent years, according to a new study.

A Harvard Business School study released on Wednesday found that the American political system was hurting the nation’s economy.

Sep 15 12:13

Deflation = A Rise in the Standard of Living

Sep 15 11:45

Russian-Iranian bank may ditch the US dollar

Moscow and Tehran are actively working on opening a joint bank with plans to carry out operations in national currencies, according to the former president of the Russia-Iran Friendship Society Bahram Amirahmadiyan.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA