ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Nov 08 11:12

Momentum stalls in Congress for aid to ailing national parks

Our country is headed for 3rd world status. Mainly because of all the money the Defense Department and their Israeli masters suck out of our economy for their incessant wars.

DENVER, Nov. 8 (UPI) -- Momentum in Congress has sputtered for bills that would help the U.S. National Park Service finance a $12 billion backlog in maintenance needs.

Even though it has wide bipartisan support, the Restore Our Parks legislation that would send $6.5 billion over five years to improve park infrastructure is lingering in legislative limbo. The money would come from offshore and onshore royalty revenues for oil and gas on public lands.

"This legislation represents one of the most significant investments in the 100-year history of the Park Service," co-lead author Sen. Mark Warner, D-Va., said in an email. "The longer we kick the can on the deferred maintenance backlog, the more we'll hold back communities that rely on visitors to help generate economic activity."

Nov 08 11:02

Pentagon: Revenue From Syrian Oil Will Go to Kurdish SDF, Not US

Pentagon spokesman Jonathan Hoffman told reporters on Thursday that while the US continues to expand its presence in and around east Syria with an aim of protecting and controlling the oil fields, the US won’t be keeping the money.

“The revenue from this is not going to the US, this is going to the SDF,” Hoffman said, suggesting the US-backed Kurds will get all the money. That’s still entirely speculative, however, because no US company has expressed any willingness to extract the oil in the first place.

It’s also not what has been sold to the US by President Trump. Trump has insisted that the US would be keeping some of the oil for itself, telling crowds recently that it would amount to $45 million a month and that it was always his intention to “keep the oil.”

Webmaster's Commentary: 

I frankly think that the Pentagon is "shopping the scenario" of the Kurds getting the money from these oil fields, to try to compensate for the lousy "taste in the mouth" from smaller countries world wide, who are wondering right now; "OK, if the US has decided it can expropriate/steal Syria's oil with no backlash, and since we don't have much of a "standing army", when will the US invade our country for our resources?!?"

The question is absolutely legitimate, given the current US international policies right now.

Nov 08 10:51

US Claims Iran Preparing ‘Nuclear Breakout: Pompeo demands world powers act against Iran

Iran restarted enrichment at the underground Fordow site overnight on Wednesday, and on Thursday US officials were accusing Iran of preparing a “nuclear breakout” situation the international community must unite against.

The concept of the “nuclear breakout” has always been ill-defined, but rests on the notion that at some point Iran would have such a substantial civilian nuclear program that it would be tantamount to an irreversible military program. Though it’s not clear that’s even theoretically possible, as nations like Canada and Japan have never been accused of approaching a “breakout” despite huge nuclear programs, attaching the label to Iran has been popular with US hawks and Israel.

The breakout idea is meant to push a narrative in which action, presumably a war, needs to be launched quickly. Secretary of State Mike Pompeo took the lead in urging other world powers to do something to force Iran back into compliance with the P5+1 deal.

Webmaster's Commentary: 

(Sigh)Mike, Mike, Mike, Mike, Mike; please who rescinded their agreement to the PO5 +1 agreement, initially?!? Are you having a hard time remembering this, and would you like something approximating rational logic with which you can examine Iran's reasons for doing what it is doing?!?, as you look at this situation?

Well, sir, perhaps not, given your recent penchant for hubristic tirades about everything, but let me brake it down for you, if you are having a problem.

On May 8th, 2018, President Trump rescinded US support for the P5 + 1 agreement, and dropped out of the agreement.

It’s official: President Trump is pulling the United States out of the Iran nuclear deal.

This was, of course, premised on statements made by then-Israeli Premier, who , of course, charged, Iran with "having lied" about its nuclear program (as if Netanyahu was not always lying, or, equivocating on Israel's nuclear program; I smell some very choice A, bovine excrement about to hit the ventilation shaft, but let's see what Netanyahu had to say back in April 2018 on this): Netanyahu/Israel says IOran lied on nuclear arms, and pressures the US to scrap the deal

The article goes on to state: " Israeli Prime Minister Benjamin Netanyahu unveiled on Monday what he said was evidence of a secret Iranian nuclear weapons program that could step up pressure on the United States to pull out of a 2015 nuclear deal with Iran."

"U.S. Secretary of State Mike Pompeo said the information showed that Iran’s leaders lied to their people about a nuclear weapons program known as “Project Amad”. But Pompeo declined to say whether the documents provided evidence of a violation of the nuclear deal."

Intelligence experts and diplomats said Netanyahu’s presentation, in a prime-time television presentation, did not seem to have a “smoking gun” showing a violation by Iran but it could strengthen the hand of advisers to U.S. President Donald Trump who want to scrap the nuclear agreement.

Which was why this j'accuse/dossier was created in the first place.

Most of the purported evidence Netanyahu presented dated to the period before the 2015 accord was signed, although he said Iran had also kept important files on nuclear technology since then, and continued adding to its “nuclear weapons knowledge”.

None of the foregoing was strong enough actually be considered "real evidence"; we are looking at hearsay; half-truths; and material allegedly documenting some of Iran's nuclear programs which were developed way before the 2015 Agreement.

So Secretary of State Pompeo, I have (shudder, sir, here it comes) a logical question; if the US has rescinded its support for the P5 +1 deal, why should Iran abide by it?!? Forgive me, Secretary, but where is the logic, the quid pro quo in this threat against Iran?!?

The short answer, sir, is that there is no logic in the US's position that Iran should observe the treaty, while the US has withdrawn from it; sorry, but it makes absolutely zero sense to thinking people.

And Secretary Pompeo, I would respectfully suggest, that if the US government is thinking about a war against Iran, including a decap-strike against Tehran, that perhaps they should just suck it up, and not do it.

The reason I am making this statement, is the reality that one of Russia's top officials, last June, which made the observation that if Iran is attacked by the US, that Russia would come to its aid.

Iran won't be a lone if the US Attacks, Russian Official Says. This promise was made to Iran by Zamir Kabulov, the Foreign Ministry’s special envoy for Asian countries including Iran, said at a Russian-Iranian policy forum in Moscow.

And trust me, Sec Def Pompeo; this man hardly inhales air, before Putin tells him it is OK to exhale.

Nov 08 10:22

Children's chain Mamas & Papas collapses into administration and closes six stores making 73 staff redundant immediately just days after Mothercare went bust

Baby shop Mamas & Papas has collapsed into administration today with six store closures and up to 125 jobs axed - just three days after rival Mothercare went bust putting 2,500 people out of work.

The retailer has made 73 staff redundant with immediate effect and has put 54 further jobs at risk within its head office as another of Britain's high street chains crumbled.

Mamas & Papas said its unprofitable stores in Aberdeen, Preston, Milton Keynes, Lincoln, Leamington and Fareham closed today as a result.

The company, which had 27 stores and three concessions, said its remaining stores will continue to trade as normal, as well as online.

Nov 08 09:37

Mind Markets Melting Both Ways

Nov 08 08:40

The Fed’s Dilemma Is Our Problem!

Nov 08 08:26

HOW QE REALLY WORKS

Nov 08 08:13

The 10 Highest Paying Jobs In Oil & Gas

Nov 08 07:16

Is the Run on the Dollar Due to Panic or Greed?

What’s going on in the repo market? Rates on repurchase agreements (“repo”) should be around 2%, in line with the fed funds rate. But they shot up to over 5% on September 16 and got as high as 10% on September 17. Yet banks were refusing to lend to each other, evidently passing up big profits to hold onto their cash – just as they did in the housing market crash and Great Recession of 2008-09.

Since banks weren’t lending, the Federal Reserve Bank of New York jumped in, increasing its overnight repo operations to $75 billion; and on October 23 it upped the ante to $120 billion in overnight operations and $45 billion in longer-term operations.

Why are banks no longer lending to each other? Are they afraid that collapse is imminent somewhere in the system, as with the Lehman collapse in 2008?

Nov 08 06:36

Gold Falls 3% In Week to One-Month Low At $1,464/oz As Banks and Hedge Funds Sell COMEX Futures Aggressively

Gold is down 3% this week on concentrated selling of gold futures on the COMEX in New York.

Nov 08 06:19

Wasting Money on CEOs

Nov 08 06:08

At auction: Putin’s executive order to take Crimea from Ukraine

Russian President Vladimir Putin’s controversial 2014 decree that cleared the way for the annexation of Crimea from Ukraine, which still draws international outrage, is going on the auction block.

The personally signed order tucked neatly into an ornate leather binder could bring as much as $8,000-$10,000, according to Alexander Historical Auctions, hosting the online auction Nov. 19-21.

Alexander Auctions President Bill Panagopulos described his unusual item this way:

An historic modern Russian document with repercussions still affecting the world today, Vladimir Putin's executive order creating the Ministry of Crimean Affairs and integrating the economic, financial, credit and legal systems of the Crimea with that of the Russian Federation. Putin essentially inextricably merges Crimea's economy and courts with those of Russia, making any future return of Crimea to Ukraine nearly impossible.

Webmaster's Commentary: 

(Sign) Paul, Paul, Paul, the author of this piece of codswallop, were we having one hell of a case of SMD (selective memory disorder) before you" put this ripe tripe to bed?!?"

Apparently, you are choosing NOT to remember the following, and I would bet that your inner two year old is about to have a raging temper tantrum, because of the following FACTS, Paul:

FACT: Washngton was behind the coup in 2014, and Obama admits that there was a US-brokered deal in support of regime change

FACT: post-putch which put Poroshenko in charge of Ukraine in 2014, the Crimeans smelled "foul" as they knew the "election" was a regime change writ large, and that no semblance of justice could ever come out of Kiev again with that corrupt bunch which had grabbed the gonads of power here.

So what did the Crimean people do, Paul?!? And why the hell did you not know this, or ar you choosing not to mention this, because it does not fit your, and the Deep State's "agenda" here?!?

They did two things, Paul; FACT: the Crimeans held a referendum to determine if they wanted to stay with Ukraine post-putsch, or petition the Russian Federation to join it. Overwhelmingly, they voted to leave Ukraine, and petition the Russian Federation. 2014:
Crimean status Referendum

Paul, I don't get it; you are supposed to be some kind of arbiter of truth, as a journalist; not a mole for the deep state; and if this information was available to me with a cursory search on line, my question is, WHY WAS IT NOT AVAILABLE TO YOU?!?

No, Paul; you are either intellectually lazy beyond belief, or paid very well to lie to the American people, or both.

And that last, nearly nearly breathlessly hysterical paragraph I cited, made it look like what Russia did here, was an horrendously bad thing to do, when this is precisely what the Crimean people wanted Putin, and Russia to do.

And has your MONSTER case of SMD caused you to conveniently forget, that both Russia and the US are signatories to the UN Universal Declaration of Human Rights which includes peaceful self-determination as one of its cornerstones, which is precisely what Crimea did here, with its referendum, and petition to the Russian Federation for membership?!?

So, given your proclivities to always want to characterize Russia as "bad and wrong", will your next move be to "encourage" President Trump to rescind the US's membership in the UN?!?

Sir, you either deliberately got this hellaciously wrong, or you didn't have a clue; in either case, this article is nothing more than a vehicle for propping up the agenda that "Russia is Always Bad!!". an agenda, which cannot be supported by the facts of this case.

Nov 08 05:20

QE By Any Other Name

Nov 08 05:19

Testimony bombshell: Obama administration tried to partner with Hunter Biden’s Ukrainian gas firm but was blocked over corruption concerns

A State Department official who served in the U.S. embassy in Kiev told Congress that the Obama administration tried in 2016 to partner with the Ukrainian gas firm that employed Hunter Biden but the project was blocked over corruption concerns.

George Kent, the former charge d’affair at the Kiev embassy, said in testimony released Thursday that the State Department’s main foreign aid agency, known as USAID, planned to co-sponsor a clean energy project with Burisma Holdings, the Ukrainian gas firm that employed Hunter Biden as a board member.

At the time of the proposed project, Burisma was under investigation in Ukraine for alleged corruption. Those cases were settled in late 2016 and early 2017. Burisma contested allegations of corruption but paid a penalty for tax issues.

Webmaster's Commentary: 

Start fixing the popcorn, folks; this is going to be magnificently entertaining!!

Nov 07 12:00

Global debt hits an all-time high of $188 TRILLION – more than DOUBLE the world's economic output – the IMF warns

Global debt has hit an all-time high of $188 trillion, which is more than double the output of the global economy, the IMF warned today.

The global debt load has surged to a new record of around 230 per cent of world's output, IMF chief Kristalina Georgieva said.

While private sector borrowing accounts for the vast majority of the total, the rise puts governments and individuals at risk if the economy slows, she said.

Nov 07 11:29

US Futures Jump To Record High After China Says US Agreed To Roll Back Tariffs

One day after there was relatively little "trade deal optimism", overnight futures surged to new all time highs when just after 2am ET, China's commerce ministry said - in what may well have been a trial balloon to test the White House's public response - that it had agreed with the US to roll back tariffs on each other’s goods in phases as the two nations work toward a trade deal, adding fuel to a "trade deal optimism" rally that is now spanning to its fifth straight day.

Webmaster's Commentary: 

And here is a companion piece, also from zerohedge.com:

China says US has agreed to phase out tariffs

Nov 07 11:11

German Ministers Mutiny As Merkel Struggles To Preserve Ruling Coalition

Shortly after German Finance Minister Olaf Scholz released his plan to complete the European Banking Union via the Financial Times, several reports surfaced claiming that Scholz had inexplicably neglected to inform Chancellor Merkel about the plan, testing Merkel's political authority as she struggles to finish out the rest of what's set to be her final term.

As it turns out, snubs like this one are becoming increasingly common as Merkel appears to have lost control over her government. Two weeks ago, Defense Minister Annegret Kamp-Karrenbauer proposed a peace plan for Northern Syria without clearing it with the chancellor. Though at least during that incident, Merkel was given a heads up about the plan. AKK's ideas were pilloried by the Social Democrats and Foreign Minister Heiko Maas, and the whole incident ended up embarrassing the government as it seeks to combat speculation that it's asleep at the wheel.

Webmaster's Commentary: 

Considering the German mood regarding the effects of unfettered immigration, coupled with economic woes, I think that Angela Merkel's party is headed for a real route, come the 2021 elections, unless she can figure how to turn the challenges Germans face from both issues around in time to prevent an absolute shellacking in 2021.

Nov 07 11:02

A Centrally-Directed Melt-Up: 'Synthetic Growth' Trumps 'Organic Collapse'

Authored by Chris Hamilton via Econimica blog,

The demographic situation the world faces is unprecedented and unparalleled in modern history. All the deaths of the past few centuries warfare were blips on the radar compared to what is taking place now. Given the infinite growth economic model, the situation is beyond repair and no repair will be attempted.

The only goal is extension of the current model with its clear winners and losers.

Nov 07 10:01

Corporate Profits Are Worse Than You Think

Nov 07 09:34

Buy Gold Before Marxism Destroys Your Money

Nov 07 09:01

After Global Food Production Drops Then What?

Nov 07 08:45

Service Sector PMIs Diverge

Nov 07 08:40

Can Crypto Revive Swiss Banking?

Nov 07 08:19

The Deutsche Bank Death Watch Has Taken A Very Interesting Turn

The biggest bank in Europe is in the process of imploding, and there are persistent rumors that the final collapse could happen sooner rather than later. Those that follow my work on a regular basis already know that this is a story that I have been following for years. Deutsche Bank is rapidly bleeding cash, they have been laying off thousands of workers, and the vultures have been circling as company executives desperately try to implement a turnaround plan. Unfortunately for Deutsche Bank, it may already be too late. And if Deutsche Bank goes down, it will be even more catastrophic for the global financial system than the collapse of Lehman Brothers was in 2008. Germany is the glue that is holding the EU together, and so if the bank that is right at the heart of Germany’s financial system collapses, the dominoes will likely start falling very rapidly.

Nov 07 07:43

MEDIA CONCEAL CHILE’S STATE CRIMINALITY, DELEGITIMIZE BOLIVIAN DEMOCRACY 

SOURCE: FAIR.ORG
Chile’s anti-neoliberal rebellion is entering its third week, and the brutal crackdown continues. Hard-right President Sebastian Piñera and his generals have effectively decreed the country’s oligarch-dominated democracy out of existence by sending soldiers into the streets to kill, maim and torture their own people.

And, for the most part, the Western corporate media blackout persists unabated.

October 25’s historic 1.2 million–person march in Santiago—the largest since the end of the dictatorship—has forced some outlets to begin to acknowledge state violence. But corporate journalists continue to largely overlook the Piñera government’s mounting atrocities.

As I examined recently for FAIR (10/23/19), this behavior contrasts remarkably with the corporate media’s unanimous backing of regime change in Venezuela, endorsing insurrectionary protests and vilifying Nicolas Maduro as a “dictator” (FAIR.org, 4/11/19).

Webmaster's Commentary: 

Prayers and thoughts for the people of Chile and Bolivia, that they may have the opportunity to be truly, democratically represented by their governments in the future.

Unfortunately, such a state of being may well not come without an intense struggle in both countries; I am hoping it can be as bloodless as possible, but unfortunately, the histories of both countries suggest that it will absolutely not be bloodless.

Nov 07 07:09

Saudi Aramco IPO Will Not Save Kingdom

Nov 07 07:06

After Global Food Production Drops Then What?

Richie Allen from the Richie Allen Show www.richieallen.co.uk and David DuByne from ADAPT 2030 discuss increasing space radiation from the Grand Solar Minimum affecting global food production across the continents and how this will affect the economy and then our civilization.

Nov 07 06:48

MAN UNDERPAID HIS PROPERTY TAXES BY $8.41. THE COUNTY SEIZED HIS PROPERTY, SOLD IT—AND KEPT THE PROFITS.

SOURCE: REASON
An 83-year-old retired engineer in Michigan underpaid his property taxes by $8.41. In response, Oakland County seized his property, auctioned it off to settle the debt, and pocketed nearly $24,500 in excess revenue from the sale.

Under Michigan law, it was all legal. And hardly uncommon.

Uri Rafaeli, who lost his property and all the equity associated with it, is just one of thousands of people to be victimized by Michigan's uniquely aggressive property tax statute. The law, passed in 1999 in an attempt to accelerate the rehabilitation of abandoned properties, empowers county treasurers to act as debt collectors. In the process, it creates a perverse incentive by allowing treasurers' offices to retain excess revenue raised by seizing and selling properties with delinquent taxes—even when the amount owed is miniscule, and even when the homes aren't abandoned or blighted at all.

Webmaster's Commentary: 

Let us call it by its right name: theft by government, writ large.

It is no wonder the Feds, and State officials are tripping all over themselves, and each other, to rescind gun rights in this country.

Nov 07 06:45

TRUMP OKS WIDER SYRIA OIL MISSION, RAISING LEGAL QUESTIONS

Legal questions. That’s hilarious.

I just want to remember the good old days, when they felt the need to dazzle us with yellow cake uranium fraud before they stole the oil.

Via: Military Times – AP:

President Donald Trump has approved an expanded military mission to secure an expanse of oil fields across eastern Syria, raising a number of difficult legal questions about whether U.S. troops can launch strikes against Syrian, Russian or other forces if they threaten the oil, U.S. officials said.

Webmaster's Commentary: 

I don't know how many international treaties, to which the US is also a signatory, the US government has breached by taking this position, that they have every full, and legal right to control and sell Syria's oil, but I am betting that the number is potentially staggering.

My near-bet would be on Israel staging an horrendous false flag, causing many US service members to be killed or maimed for life, to be blamed on both Russia and Syria.

At that point, Trump will have his alleged "justification" for a war against both Syria and Russia; but Mr. President, if you allow yourself to be cornered into taking this action, it will be one of the most ham-fistedly, pig-headedly idiotic things you could possibly do at this time.

I would like to suggest a scenario which has probably been war-gamed to death by the IDF, but let us look at the following; if Russia, the US, Iran, and Saudi Arabia are in hot conflicts around the world, and become broken by the conflicts, militarily and monetarily, who potentially gets control of the Mid-eastern oil, and I mean, all of it, once the dust settles?!?

Israel.

Mr. President, please do not consider Bibi Netanyahu your friend; at best, he, and Tel Aviv, are more like Frenemies.

Nov 07 05:53

UNDER SHROUD OF SECRECY US WEAPONS ARRIVE IN YEMEN DESPITE CONGRESSIONAL OUTRAGE

SOURCE: KRDO
The awkward camera angle is meant to hide the fact that the owner of the phone is filming, but there is no mistaking the outlines of the heavy cargo being deposited on the dock in the Yemeni port of Aden last week.

The distinctive shape of the US-made Oshkosh armored vehicle stands out in the early morning darkness, a piece of military hardware that is currently at the heart of a standoff between some American lawmakers and President Donald Trump’s administration.

Aden is controlled by the Saudi-led coalition in Yemen, whose main partners are continuing to ship American-made weapons into the country despite bipartisan outrage in Congress over the way the US is backing Riyadh in this bloody and bitter conflict.

Webmaster's Commentary: 

Here's the long and short of it; the US government has been allowing sales of billions of dollars' worth of US-weapons to the Saudi Arabian military for its genocide in Yemen, and I would imagine that, given the intensity of the size of this delivery, that the Saudis are about to embark upon a "scorched earth, scorched non-combatants" policy.

And of course, you will never see or hear a word of it on US Presstitute Corporate Channels, because such honest reportage would "put the US and Saudi Arabia in a really bad light."

There are times when courageous men and women, need to put the acts of war criminal nations into the light of public awareness; and looking at what the US and Saudi governments are doing in Yemen now is, definitely one of those times.

And IF Congressional representatives were REALLY " that outraged", they would have passed veto-proof bills, in both houses of Congress, long ago, refusing to allow the sale of weapons to Saudi Arabia; they only want to appear to be outraged, because some responsible Americans are paying attention to this, and sharing information, just as we do here at WRH.

Trust me, the outrage isn't any where near as intense as Congressional Representatives would want you to believe; particularly if weapons companies are donating heavily (both overtly and covertly) to their upcoming political campaigns.

Nov 06 13:55

Options Traders Ditch Their Hedges

Nov 06 13:52

Dozens killed & injured in attack on Canadian gold miner convoy in Burkina Faso

A convoy of buses carrying employees and contractors of a Canadian gold mining firm and its military escort fell victim to an armed ambush in eastern Burkina Faso, leaving upwards of 37 dead and 60 injured, some reports say.
The SEMAFO convoy was attacked by unidentified gunmen some 40km from one of its mines in the Est region despite an escort by local security forces. The total number of casualties is not yet known, and an official statement from the company only mentions “several fatalities and injuries.”

Webmaster's Commentary: 

Prayers for those killed and injured, and their families.

But one has to ask, Cui Bono?!? Who benefits?!?

One has to wonder if, after this attack, US military are quietly telling the government of Burkina Faso, that they "really need" American military protection, in order to prevent this from happening again.

Nov 06 13:48

Knock Knock. Who's There? Rightful Owner! Syrian Army Reportedly Reclaims Long Lost Oil Field

The majority of the country's oil fields are currently controlled by the US military, illegally stationed in the Arab Republic, and the Kurdish militia. Washington recently reaffirmed its intentions to "keep" the Syrian oil, despite objections from Moscow.

The Syrian Army started deploying its forces near the city of Qamishli in northeastern Syria, and specifically near the village of Mulla Abbas, claiming the Rumailan oilfield, which was lost to Damascus several years ago, during the civil war, SANA news agency reported. The area is located on the Turkish-Syrian border.

Webmaster's Commentary: 

This illegal commandeering of Syria's oil fields by the US, may well mean that the current administration has its eyes on a shooting war with Russia over Syria's oil.

And if the US doesn't seem to be "aggressive enough" in its posture to suit its parasitic client state in the Middle East, (Israel) I am very certain that Israel's Shin Bet, would be delighted to create a false flag for us, insuring the deaths and woundings of many American service members, in order to "get the American people on board" for a nasty war against Russia.

And please remember; just because something is the most ham-fistedly, pig-headedly stupid thing for this administration to do, is utterly no guarantee that it won't do it.

Nov 06 13:29

US Constructing Two New Bases In Syria's Oil-Rich Region: Report

Turkey's state-run media is reporting the United States is planning two new military bases in Syria's oil-rich Deir ez-Zor province, which are currently under construction, after US special forces convoys were seen patrolling the area in the past days.

Anadolu Agency, citing local sources, said the bases were under construction as evidenced by the influx of heavy equipment:

While the footage captured by Anadolu Agency showed that much construction equipment is being put into action, it was learnt the U.S. has sent 250 to 300 additional soldiers, armored vehicles, heavy weapons and ammunition to the region.

The reported added: “The military bases are being built in the 113th Brigade area and near al-Sur region,” according to the sources.

Syria's largest oil fields, which historically account for most of its domestic energy needs, are located in Deir Ezzor, including Al-Omar, Conoco, and Rumeilan.

Webmaster's Commentary: 

IF these reports are true, it appears that the US government is "digging down" against potential Russian attacks against US facilities.

Folks, we are headed, unfortunately toward a wild geopolitical ride, potentially including a shooting war with Russia over Syria, courtesy of this administration.

This would not be a bad time to make sure you have extra storable food; extra meds for yourself and your family; and potable water.

Nov 06 13:19

The Uber Exodus Begins: Insiders Dump Millions In Shares As Lockup Expires, Stock Tumbles

Uber shares have crashed to new record lows this morning as the much-anticipated expiration of the lockup-period hits the market.

An estimated 763 million additional shares, or $20 billion of Uber stock, will hit the market, according to Daniel Ives, an analyst at Wedbush.

"The lockup expiration could "cause an avalanche of selling as early investors and insiders hit the bid, which remains a major Street worry around near-term pressure," wrote Ives in a note.

And he was right. Uber is down 6%, trading at a $26 handle for the first time...

Webmaster's Commentary: 

The ending of this week, economically, could be a wild and bumpy ride indeed; I do not see the Dow getting over this for some time to come.

Nov 06 13:10

German Finance Minister Publishes New Banking Union Plan To Save The EU (And Deutsche Bank)

Less than a year after his finance ministry failed to broker a merger between Commerzbank and Deutsche Bank in a bid to rescue the flailing German lending giant (Deutsche) and create a new national champion (or so he hoped), German Finance Minister Olaf Scholz is embarking on a campaign to convince the European Union to finish work on a comprehensive banking union.

Many have argued that Europe's lack of a comprehensive banking regulatory framework make the system particularly vulnerable to chaos and infiltration by criminal groups (evidenced by the money laundering scandal that has embroiled several northern European banking giants).

And with Brexit finally nearing the end game, or so it appears, Scholz argues that Europe's global position would be at risk if it doesn't finish the integration of the eurozone's financial sector, seeing as the EU is losing one of its main financial centers in London.

Webmaster's Commentary: 

With Europeans already up in arms on the effects of inviting unvetted immigrants, adding this potential financial pain to German taxpayers, will most probably, cause the next German elections to veer wildly to the right.

Nov 06 13:06

Stocks, Soybeans, & Yuan Suddenly Plunge On US-China Trade Deal Delay Headlines

US equity futures suddenly tumbled after Reuters reports that the signing of the US-China trade deal could be delayed until December as terms and the venue remain unclear.

Additionally, a senior official of the Trump administration told Reuters on Wednesday that it was still possible the "Phase One" agreement aimed at ending a damaging trade war would not be reached, but a deal was more likely than not.

Dozens of venues have been suggested for the meeting, which had originally been scheduled to take place on the sidelines of a now-canceled mid-November summit of Asia-Pacific leaders in Chile, the official said. They included sites in Europe and Asia, but the former was more likely, with Sweden and Switzerland among the possibilities.

Iowa, which Trump has suggested, appeared to have been ruled out, the official said. China's latest push for more tariff rollbacks would be discussed, but was not expected to derail progress toward an interim deal.

Webmaster's Commentary: 

In the meanwhile, farmers who were counting on Trump's ability to make a difference here in his negotiations with China, are really feeling a world of hurt, right now; many have gone bankrupt,and can no longer take care of their families right now, and feel a deep sense of betrayal by Foggy Bottom.

Couple this with US land which has been unproductive, due to floods and fires, which used to produce food, and what we will most likely have next Spring, will be an under-ability to feed our citizens in this country.

What I would suggest that you do, is to look at buying an excellently-rated energy-efficient chest freezer, possibly right at the end of this year, right after Christmas. When things come on sale (or even if they don't and you can pare large packages of food down to smaller packages), you will thank yourself for having done this, when you see what food prices are look like, come 2020.

Nov 06 12:43

SEC's Clayton Slashes Investor Safeguards To Entice More Companies To Go Public

It looks as though the Securities and Exchange Commission isn't happy enough just allowing CEOs like Elon Musk to retain their C-suite position after committing egregious frauds like faking the largest buyout in history. The commission, under Jay Clayton, continues to make life easier for corporations while making protecting investors a second priority.

Since Jay Clayton took over as head of the SEC, 17 changes have been made and 9 more have been proposed, that are part of a broad push to help "reverse a 20-year decline in U.S. public company listings", according to Reuters. The changes include modernizing disclosures and cutting regulatory costs for companies - and just making life easier for public companies in general.

This, of course, is not without its down side: these new rules will weaken investor safeguards or diminish their rights.

Nov 06 11:12

The Economics and Politics of Zoning

By Ash Navabi

Both economic decisions and political decisions involve choices and tradeoffs. The difference is that economic decisions are ultimately informed and rely upon monetary prices, revenues and costs. Political decisions, meanwhile, do not depend on market outcomes—they can be based on love, legacy, favors, or establishing power relations.

Zoning is the practice of governments controlling the type, size, and population density of buildings...

Nov 06 09:51

Uh, is it September 2008 again?

Nov 06 09:43

Consumers Plan For Record Holiday Spending

Nov 06 08:53

Boeing whistleblower raises doubts over 787 oxygen system

A Boeing whistleblower has claimed that passengers on its 787 Dreamliner could be left without oxygen if the cabin were to suffer a sudden decompression.

John Barnett says tests suggest up to a quarter of the oxygen systems could be faulty and might not work when needed.

He also claimed faulty parts were deliberately fitted to planes on the production line at one Boeing factory.

Boeing denies his accusations and says all its aircraft are built to the highest levels of safety and quality.

The firm has come under intense scrutiny in the wake of two catastrophic accidents involving another one of its planes, the 737 Max - the Ethiopian Airlines crash in March and Lion Air disaster in Indonesia last year.

Nov 06 07:36

Why Fractional Shares Don’t Make Sense

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