ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 15 09:48

The most reliable cars in the US: The 15 cars Americans keep the longest before trading in for a new one

These are the top 15 cars that American drivers tend to keep the longest before trading in for a new one.

Toyota models dominated the list taking out the top five spots, according to the new study by iSeeCars.com.

Fourteen of the top cars predicted to last more than 15 years are Japanese models, with the exception of German Volkswagen.

Jan 15 09:20

Nearly 40% Of Student Loan Borrowers To Default By 2023

Cumulative default rates among student borrowers continue to rise between 12 and 20 years after initial entry, and according to a recent Brookings study suggests that nearly 40% may default on their student loans by 2023.

Jan 15 08:59

Report: 48% of Hawaii Households Can't Afford basics

ALICE families – an acronym for Asset Limited, Income, Constrained, Employed – have income above the Federal Poverty Level (FPL), but not high enough to afford a basic household budget that includes housing, child care, food, transportation and health care. ALICE households live in every community in Hawai‘i – urban, suburban and rural – and they include women and men, young and old, all races and ethnicities.

In Hawai‘i, there are 165,013 ALICE households (37% of total households), while another 47,066 households (11% of total households) live below the poverty level. In total, 48 percent of Hawai‘i households are ALICE and below.

ALICE includes our child care providers, retail salespersons, waitstaff, cashiers, administrative assistants, janitors, housekeepers, landscapers, teaching assistants, mechanics, restaurant cooks and more.

Jan 14 18:21

US ready to hold millions of dollars from UN agency for Palestinians: report

President Trump is reportedly ready to cut part of the United States's aid package to the United Nations (U.N.) agency that oversees aid to Palestinian refugees, The Associated Press reported on Sunday.

The news outlet, citing anonymous officials, said Trump is mulling cutting aid for the U.N. Relief and Works Agency from $125 million to $60 million but has not yet made a decision.

A decision may come as soon as Tuesday, according to the AP.

Jan 14 18:07

Dear US taxpayers, 4.5 BEEELLION of your dollars were blown on unapproved IT projects

American government agencies are spending billions of tax dollars on IT projects without getting the proper approval or oversight.

This is according to a report from the Government Accountability Office (GAO), which studied the IT spending of 22 agencies, and found that about $4.5bn of Uncle Sam's $19.2bn IT spending in fiscal 2016 was splurged on projects that were never properly reviewed.

The $4.5bn in unapproved spending – 23 per cent of the total IT cost – included 41,493 contracts that were awarded or changed without following purchasing guidelines laid out by the Office of Management and Budget (OMB), and in many cases without even getting approval from the agency's chief information officer (CIO).

Jan 14 09:02

Mnuchin: 'I didn't realize' Davos forum was for 'global elites'

Treasury Secretary Steven Mnuchin said Friday that he was not aware that the World Economic Forum was considered a gathering of the "global elite."

"I didn't realize it was the global elite," Mnuchin said at an event in Washington. "Actually, I've looked at the list. There's an awful lot of world leaders, there's an awful lot of finance chairs, there’s an awful lot of business people."

"This is an important economic agenda," he added, arguing that the gathering in Davos, Switzerland is just like any other conferences, like the annual Group of 20 summit.

The World Economic Forum, however, carries a reputation as a gathering of wealthy executives, government officials and celebrities in a Swiss resort town, making President Trump's scheduled attendance there later this month a somewhat unexpected move.

Jan 14 08:53

The Strange Case Of The Falling Dollar - And What It Means For Gold

Trillions of dollars in uncontrolled central bank stimulus and years of artificially low interest rates have poisoned every aspect of our financial system. Nothing functions as it used to. In fact, many markets actually move in the exact opposite manner as they did before the debt crisis began in 2008. The most obvious example has been stocks, which have enjoyed the most historic bull market ever despite all fundamental data being contrary to a healthy economy.

Jan 13 19:39

Living under a bridge doesn't stop this homeless woman from staying positive.

A few months back I logged onto Facebook and was greeted by a smiling homeless woman's selfie in front of a tent holding up a cup of coffee. It was captioned "good morning." Today, I met Manda at her homeless encampment where she made me a cup of coffee!
Manda is an amazing woman. She is disabled from severe brain trauma, yet because she is high functioning, she falls through the gaps in the safety net. I have been working with her trying to help find a path out of homelessness, but the walls bureaucracy are impossible to break through.
For all the people that believe homeless people are lazy, I wish they could just spend an hour in Manda's shoes! She works hard to keep her tent camp clean. She works hard getting to treatment and therapy. She works hard every single day trying to survive. And she works extremely hard to stay positive while facing the madness of homelessness each and every day!

Jan 13 10:10

Extreme Run on Sam's Club Alaska- Police Called- Closing Down Store

Sam's Club is closing its doors in Alaska- they announced it yesterday and this video was today in Fairbanks, Alaska. Everybody and their eskimo uncle was in that store hoarding supplies as the Interior of Alaska's only bulk store just announced closing. And yes, we still do have Blockbuster Video... They were letting people in 10 at a time. Dog food and toilet paper was gone, because we have so many dog mushers, and people who wipe their butt. The busiest day any Sam's Club has ever seen.

Jan 13 10:08

Food riots grip western Venezuela, mob reportedly slaughters cattle in field

Hungry mobs ransacked a food collection center, and a supermarket in Venezuela's western Andean state of Merida on Thursday and reportedly even slaughtered cattle grazing in a field as unrest over food shortages spread through the country.

An opposition lawmaker from Merida, Carlos Paparoni, said four people had died and 10 were injured in the chaos over the last two days, but he did not specify the circumstances.

Four years of recession and the world's highest inflation have plunged millions of Venezuelans into poverty, and President Nicolas Maduro's authoritarian socialist regime faces mounting unrest.

Jan 13 09:44

Kentucky is first to get OK for Medicaid work requirement

Kentucky has become the first state to require many of its Medicaid recipients to work to receive coverage, part of an unprecedented change to the nation’s largest health insurance program under the Trump administration.

The Centers for Medicare and Medicaid Services announced the approval on Friday. The change will require adults between the ages of 19 and 64 to complete 80 hours per month of “community engagement” to keep their coverage. That includes getting a job, going to school, taking a job training course or community service.

It’s a big change for Kentucky, a state that just four years ago embraced former President Barack Obama’s health care law under a previous Democratic governor who won praise for posting some of the largest insurance coverage gains in the country.

But Republican Gov. Matt Bevin said while more Kentuckians have insurance, it is not making them healthier.

Jan 13 09:43

HERE COMES THE DEBT TSUNAMI: GOLDMAN WARNS TREASURY ISSUANCE TO MORE THAN DOUBLE IN 2019

During yesterday's surprisingly candid remarks by Bill Dudley, the second most important person in the Federal Reserve - the organization that is responsible for the third consecutive and largest ever yet asset bubble in history - said that one risk he was increasingly worried about was, drumroll, elevated asset prices. Because, supposedly, the Fed has little to input in how asset prices came to be where they are...

Just as ominous was Dudley's admission that the second risk he was concerned about is "the long-term fiscal position of the United States" i.e. US debt. Specifically, Dudley said that the Trump tax cut "will increase the nation's longer-term fiscal burden, which is already facing other pressures, such as higher debt service costs and entitlement spending as the baby-boom generation retires."

Jan 12 14:52

In Fairbanks and rural Alaska, Sam’s Club closing is a ‘major blow’

At Pagoda Restaurant and Bar in North Pole, owner Benny Lin said he does most of the shopping for his business at the Sam's Club in Fairbanks.

He typically goes there at least five days a week, picking up items like oil, rice, peppers, paper products and cleaning supplies. The news on Thursday that his Sam's Club will close later this month left him wondering how his business will adapt.

"I was stressed a little bit, like, wow, what are we going to do?" he said. "It's so convenient. Now, everything we have to special order from the Lower 48."

Jan 12 12:07

Is Trump Afghan Policy Aimed at Taliban or at China?

In recent months the US President has reversed yet another campaign pledge to pull out of Afghanistan, America’s longest war, and instead has begun to deploy an added 3,000 troops there. At the same time he has lashed out at the government of Pakistan accusing it of aiding the Afghan Taliban and pledging to cut all US military aid to that country as reprisal. A deeper view into the situation suggests that both moves are linked and have to do with not the Taliban and the Afghan terrorists. It has very much to do with ongoing developments of peaceful construction of the Chinese-led Belt, Road Initiative and desperate attempts of Washington to try to stop those developments using other pretexts.

Jan 12 08:22

Food Stamp Usage Falls by 2 Million During Trump’s First Year in Office

There’s no denying that Barack Obama was the “food stamps president” because the numbers prove it. In 2009, 33,490,000 people received food stamp benefits, but by October 2016, 44,219,123 people received the same assistance, an increase of about 10,729,000. That’s an increase far out of proportion from what we’d normally expect with natural population increase, and it’s a problem that persisted, even as the economy recovered from the financial crisis of 2008. Thanks to a loosening on restrictions for the program, the cost of food stamps for taxpayers rose from $50.3 billion to $66.6 billion.

Jan 12 08:12

Millionaire Nancy Pelosi trashes tax cuts, calls $1,000 bonuses ‘crumbs’

House Minority Leader Nancy Pelosi, D-Calif., is determined to keep Republicans in control of the House of Representatives. That, or the 15th richest member of Congress is so desperately out of touch with the American people that despite her best efforts to trash Republicans, she can’t help but come across as delusional.

Jan 12 08:06

'LAGGING BEHIND': EU INVESTS $1.2BN IN SUPERCOMPUTERS TO COMPETE WITH CHINA, US

The EU says it is "behind" when it comes to supercomputers, and plans to invest $1.2 billion in at least four of the machines. The move is seen as an effort to play catch-up with countries including China and the US.
In a European Commission press release on Thursday, the Commission's Vice President for the Digital Single Market Andrus Ansip said the EU is "lagging behind" when it comes to supercomputers.

"We do not have any supercomputers in the world's top ten," he said.

To fix that problem, the commission plans to use €1 billion ($1.2 billion) of public funding to invest in at least four supercomputers by 2020. Of that amount, $589 million will come from the EU. A similar amount will come from individual member states and "associated countries" that sign up for the project. "Private members of the initiative would also add in-kind contributions," the release states.

Jan 12 07:41

Fiat Chrysler will move Ram production to Michigan from Mexico

Fiat Chrysler Automobiles is feeling good about tax reform. So good that it says it's moving some of its truck production from Mexico to Michigan.

Jan 12 07:37

Walmart Abruptly Closing Dozens Of Sam's Club Stores, Firing Thousands On Same Day It Raised Minimum Wages

Wal-Mart was quick to make a media splash with the news that it was raising the starting hourly wages to $11/hour, expanding employee benefits and offering worker bonuses of up to $1000 in response to the Trump tax cuts; it was far more covert, however, with the news that on the very same day it was also closing hundreds of Sam's Club stores nationwide and laying off thousands of workers according to numerous media reports.

Jessica Buckner, an audit team lead at a Sam's Club location in Anchorage, told local TV station KTVA that all Alaska stores are closing as part of a larger downsizing across the U.S. "From what I heard, there's over 260 stores that have been closed down," she said according to CBS News.

The wholesale clubs' official closure date is Jan. 26, Buckner said.

Jan 12 07:25

Move Over Fort Knox: Here’s An Actual Look Inside Russia’s Gold Vaults At Their Gold Reserves

It’s no secret that Russia has been stacking the shiny phyzz for years, and here’s a glimpse showing exactly how they stack…

Jan 12 07:25

Silver Antidote to Bubble Craziness

U.S. stocks, according to many measures, are the most over-valued in history. We live in a Bubble Zone!

Bitcoin and other cryptos are definitely in a bubble, but they could rise even higher.

Bonds yield little, and in many European countries, less than zero. Central banks have created this distortion to the detriment of savers, insurance companies and pension funds.

Real estate: Some locations, such as New Zealand, Canada and Australia are up a factor of 8 to 20 since 1980. Houses have become unaffordable for many, even with historically low interest rates.

Silver and gold: No bubble since 1980. Prices have been repressed since 2011 and are attractive now.

Jan 12 07:09

Unruly neighbor: Canada complains to WTO, says US breached trade rules

A wide-ranging trade complaint has been filed by Canada against the US, accusing it of breaking international trade rules. The US, which has threatened to scrap trade deals between the two, has called the move “ill-advised.”

Canada’s complaint comes as its efforts continue to renegotiate the North American Free Trade Agreement (NAFTA).

The 32-page complaint challenges Washington's use of anti-dumping and anti-subsidy duties, according to the World Trade Organization (WTO). Ottawa has cited around 200 examples of alleged US wrongdoing, almost all of them concerning other trading partners too, such as China, India, Brazil and the European Union.

Canadian Foreign Minister Chrystia Freeland said the legal action was in response to “unfair and unwarranted” US duties against Canada's softwood lumber producers, and is part of a “broader litigation” to defend its forestry jobs.

Jan 12 07:06

George Soros Bought a Huge Stake in Goldman Sachs After Trump’s Election

George Soros’ hedge fund Soros Fund Management made big changes to its portfolio in the fourth quarter of 2016, including a $14.9 million stake into Goldman Sachs.

Jan 11 14:31

California proposes more spending on schools and roads

California has faced 10 recessions since World War Two, and the state must prepare for the 11th, Brown said.

“We have to be on our guard,” he said. “We have to be ready.”

Jan 11 14:30

Jack in the Box CEO: Swapping cashiers for robots 'makes sense' due to minimum wage increase

The CEO of fast-food restaurant Jack in the Box said “it just makes sense” to replace cashiers with robots due to the minimum wage increase in California. "As we see the rising costs of labor, it just makes sense" to swap cashiers with kiosks where customers can order their food themselves, CEO Leonard Comma said Tuesday at the ICR Conference in Orlando, Fla., Business Insider reported.

Jan 11 13:50

Sam's Club abruptly closes stores across the US without notice

Sam's Club, the membership warehouse owned by retail giant Walmart, is shutting down or converting 63 stores, a Walmart official confirmed Thursday.

Jan 11 13:29

Cryptocurrency Bubble or new Paradigm?  When $100 billion in market cap evaporates overnight and the rise of new currencies.

The market cap of crypto currencies hit over $830 billion and seemed to be on pace to reaching $1 trillion. This week South Korea openly discussed closing down exchanges since it felt there was excessive speculation in the crypto currency markets. It is hard to argue with that when you look at the rise of certain digital coins rising 1,000% to 4,000% (or more) in a relatively short period. Are people looking for a get rich quick scheme or is this something different? Is there a bubble in the crypto currency markets or is this some sort of new financial paradigm?

Jan 11 10:36

Kodak shares soar on news of cryptocurrency venture

Shares of Eastman Kodak stock were soaring Tuesday after the company announced a new cryptocurrency initiative.

The company unveiled a licensing partnership with Wenn Digital to launch an image rights management platform called KODAKOne and a photo-centric cryptocurrency called KODAKCoin.

The stock price opened at $3.10 a share Tuesday and rose as high as $7.65 after the announcement was made at the Consumer Electronics Show in Las Vegas. When the stock market closed at 4 p.m., shares were trading at $6.80.

Jan 11 09:42

‘We won’t pay any more!’ Austrian minister RAGES at EU as Brexit prompts budget DILEMMA

As member states continue to argue about how to plug the gap left by Britain’s impending exit from the EU, Austria's Chancellery Minister Gernot Blümel said the bloc must improve productivity and streamline its goals, rather than simply demand more money from the EU27.

Mr Blümel, who is responsible for EU agendas for the upcoming budget, does not want Austria to have to spend more to cover the finical gap left by Britain’s exit.

He said: "The EU will have to concentrate on fewer tasks, but will have to carry them out more efficiently, for example in terms of security and external border management.

Jan 11 09:36

Coming soon to Davos: A Trump stink bomb

The president will take his populist show to the annual Swiss gathering of global financial, political and media elites.

Jan 11 09:26

Malta taxhaven: Russian billionaires prepare to flee to EU

More than 730 of Russia's biggest businessmen have applied for Maltese citizenship, which can be purchased for € 900, 000. Among them are Arkady Volozh, Boris Mintz, Alexei Marey and other names of the Russian list of Forbes, RBC reports.

The list of citizens of Malta is available on the website of the government of the country, which has been a member of the European Union since 2004. Over the past three years, the number of representatives of large Russian business among new citizens of Malta has significantly increased. And the passports were not only for businessmen themselves, but also members of their families.

Jan 11 06:54

How the Collapse of Venezuela Really Happened: Part 1

Did you wonder what the beginning of a collapse looks like from the inside? In part 1 of an ongoing series, Jose Martinez shares his eyewitness story about the slow-motion collapse of Venezuela.

Jan 10 15:31

Retail Investors Finally “Up To Their Chest” in Stocks, Become True Believers with Record Exposure

One of the “bigger fears”: dip buyers get burned, turn into sellers, “get an exponential move to the downside.”

Jan 10 15:15

The Municipal Debt Crisis Begins

Jan 10 14:50

7 Reasons Why You Should Go For Gold in 2018

Jan 10 14:25

Consumer Credit, Small business index, JOLTS, Rig counts

Things are starting to add up better with this jump in consumer borrowing. With real disposable personal income growth near 0, and spending growing at just over 2.5% through November, it’s now looking like consumers ‘dipped into savings’ by running up their credit card balances which tends to be followed by reductions in spending

Jan 10 13:34

Gold Hits All-Time Highs Priced In Emerging Market Currencies

Gold at all time in eight major emerging market currencies
– A stronger performance than seen when priced in USD, EUR or GBP
– As world steps away from US dollar hegemony expect new gold highs in $, € and £
– Gold is a hedge against currency debasement and depreciation of fiat currencies

Jan 10 13:19

Bankruptcy Looms As Sears Warns "Will Consider All Options" If New Financing Process Fails

Sears Holdings, the one-time giant retailer that has been teetering on the edge of bankruptcy for years now, announced this morning that, following yet another disappointing holiday season (shocking), they've initiated new discussions with lenders aimed at renegotiating terms on some $1 billion of "non-first lien debt."

According to a press release from the company, the debt concessions would be accompanied by another $200 million of cost cuts.

Jan 10 13:18

Loonie, Peso Plunge On Report US Pulling Out Of NAFTA

The Canadian Loonie and Mexico Peso are plunging in kneejerk response to a series of Reuters headlines, according to which government sources report that the US will shortly announce it is pulling out of Nafta.

Jan 10 12:59

Chap. 11 Bankruptcies Spike 107% from Year Ago

What caused the biggest jump since the Financial Crisis?

Jan 10 12:11

Consumer Credit - Borrowers go all in

Jan 10 11:23

Pentagon Program to Revive Afghan Economy Failed to Account for $675Mln

The US Special Inspector General for Afghanistan Reconstruction said that the Department of Defense's program had spent hundreds of millions to revive Afghan economy, but can't provide reliable data on where the money actually went.

A US Department of Defense program called the Task Force for Business and Stability Operations (TFBSO) spent $675 million on the Afghan economy from 2011 to 2014, but left few records to show where the money went, a report said.

"DOD was unable to provide reliable data showing the extent to which TFBSO projects created jobs, facilitated foreign direct investments, increased exports, or increased Afghan government revenues," the Special Inspector General for Afghanistan Reconstruction (SIGAR) said on Tuesday.

U.S. Air Force Lt. Col. Andy Veres, left, Provincial Reconstruction Team Zabul commander, re-enlists Master Sgt. James Sandifer, Forward Operating

Webmaster's Commentary: 

I frankly don't think that any of these funds will ever see the light of day, and have just been expropriated by other corporations and national entities upon whichm the US government has absolutely zero oversight.

Jan 10 11:05

NEW ANALYSIS SHOWS FEDERAL MARIJUANA LEGALIZATION COULD RAISE $130 BILLION, ADD 1 MILLION JOBS BY 2025

As opposed to the current patchwork of states that have legalized either medical marijuana, its recreational use, or both, the analysis looked at what could happen if the U.S. government made it legal to sell marijuana nationwide and included these major findings:

If full legalization occurred in all 50 states today, there would be an excess of 782,000 jobs, and would increase to 1.1 million jobs by 2025.
Full legalization would result in more legal businesses participating in the market, more consumers participating in the legal market, and more employees on official payrolls, resulting in $4 billion in payroll taxes. By 2025, payroll deductions would increase to $5.9 billion.
Assuming a sales tax at the federal level was implemented at 15%, the total tax revenues from 2017–2025 would theoretically be $51.7 billion. This amount of revenue would be entirely new revenue to the U.S. Treasury, as there are currently no federal sales or excise taxes.

Webmaster's Commentary: 

Ah, but you see: this... would be logical.

And, of course, by working against the legalisation of marijuana, Jeff Sessions understands that his "good ol' boys" will profit even more extensively from the private prisons in which they are involved:

Jeff Sessions' marijuana crackdown helps Boca Raton's Geo-Group

Jan 10 09:37

CHP Seizure of Legal Cannabis Outrages California Farmers

This is what is wrong with this country.Our employees will not obey their sovereigns and the law. Time for the sovereigns to rein in these so-called public servants!

On Friday night Dec. 22, three days before Christmas and ten days before California ushered in legal retail sales of marijuana for adult use, California Highway Patrol officers pulled over the truck of a locally-licensed marijuana distributor near North State Street and Pomo Lane, just north of the Mendocino County seat of Ukiah.

The truck for Old Kai Distribution was carrying 1,875 pounds of plant material from three local farms. It was to be sorted and inventoried at the company’s Ukiah factory, given traceable bar codes, sent out for sample testing at cannabis laboratories and, eventually, shipped to licensed concentrate manufacturers.

Jan 10 09:09

SEC Halts Trading in my Biggest “Blockchain Stock” Hero

11 days after I lambasted the outfit. Billions went up in smoke already.

Jan 10 08:25

The Economy Is In The Process Of Being Re-Worked For The Transition

GoPro is cutting 250 employees. Regis closing 600 salons in Walmart. The American people believe the economy is improving and they are charging like crazy as their personal savings declines.

Jan 10 07:37

Bank loans and macro analysis

Bank lending began to decelerate after oil related capital spending collapsed late in 2014, and then collapsed further about the time of the presidential election

Jan 10 07:30

IS IT TIME TO SHORT OIL?

Jan 10 06:59

If You Look Behind The Curtain, The Economy Is Breaking Apart

We are now seeing the same pattern we saw prior to the recession of 2008, the number of job opening is shrinking and the hires are falling at the same time.

Jan 10 05:12

NSA SURVEILLANCE BILL WOULD LEGALIZE LOOPHOLE THAT LETS FBI SPY ON AMERICANS WITHOUT A WARRANT

With major NSA surveillance authorities set to expire later this month, House Republicans are rushing to pass a bill that would not only reauthorize existing powers, but also codify into law some practices that critics have called unconstitutional.

The bill takes aim at reforming how federal law enforcement can use data collected by the National Security Agency, putting a modest constraint on when the FBI can conduct so-called backdoor searches of Americans’ communications. But because such searches make use of a legal loophole, critics say the current bill may do more harm than good by explicitly writing the practice into law.

Webmaster's Commentary: 

That Congress should actually be thinking in such a direction is absolute proof positive that this government is frightened to death of its own people.

Jan 10 05:06

MADURO TO ISSUE FIRST 100 MILLION PETROS DESPITE SKEPTICS

Venezuelan President Nicolas Maduro said that he ordered the first 100 million units of its new oil-backed Petro—Venezuela’s cryptocurrency creation. Each Petro unit will be backed by one barrel of oil, and the 100 million units, at current value of $59.07 per barrel, should be worth almost US$6 billion.

While this sounds good on paper, the move is largely seen as a fanciful idea by analysts, and opposition politicians have said of the project that it is doomed to fail, according to Reuters. A lack of rule of law and falling production are unlikely to make the cryptocoin attractive enough for international investors, not to mention the escalating U.S. sanctions designed to constrict capital flows to Caracas. Citgo, Venezuela’s state-owned U.S. subsidiary, cannot currently repatriate its earnings to PDVSA due to the measures.

Webmaster's Commentary: 

As this evolves, look for a total US Naval blockade of Venezuela, accompanied by US Navy and border patrols, boardng tankers of suspected companies doing business with Venezuela in this way.

I would like to quietly and politely remind the White House, State Department, Congress, and the Pentagon, that such an act is looked upon, in international law, as an act of war.

Jan 09 16:14

Your Next T-Shirt Will Be Made by a Robot

Sometime later this year, dozens of robots will spring into action at a new factory in Little Rock, Ark. The plant will not make cars or electronics, nor anything else that robots are already producing these days. Instead it will make T-shirts—lots of T-shirts. When fully operational, these sewing robots will churn them out at a dizzying rate of one every 22 seconds.

Jan 09 15:54

Fast-food CEO says 'it just makes sense' to consider replacing cashiers with machines as minimum wages rise

Jack in the Box is considering swapping some cashiers with robots as the minimum wage rises in California.

"As we see the rising costs of labor, it just makes sense" to consider adding new automated technology, CEO Leonard Comma said on Tuesday at the ICR Conference.

Jan 09 15:00

Mexican cities secede to escape corruption and cartels, forming corporate dystopias, precarious utopian projects, and Mad Maxish militia towns

Mexico's corrupt, failing government that covers up official mass murders by attacking journalists and dissidents with cyberweapons is locked in a stalemate with the country's horrific, mass-murdering gangs, and the Mexican people are caught in the crossfire.

Jan 09 14:27

Scott Adams: President Trump Earns the Highest Presidential Approval Level of All Time

I have been telling you for two years straight that psychology drives the economy, and that a Master Persuader such as President Trump can directly influence psychology and optimism. We see him doing that right before our eyes.

Jan 09 13:02

The day I found out it was all rigged

As it turned out, the reason behind the crash was that the investment banks’ fancy trading algorithms had gone completely haywire.

Several of the largest banks had developed autonomous software that was capable of trading billions of dollars without the need for human beings.

And at 2:45PM that day, their software started to fail… inexplicably selling stocks to the point that prices collapsed nearly 10% in minutes.

Jan 09 11:40

Natural disasters cost America a record $306 BILLION last year - with a record 16 costing more than $1bn each

With three strong hurricanes, wildfires, hail, flooding, tornadoes and drought, the United States tallied a record high bill last year for weather disasters: $306 billion.

The U.S. had 16 disasters last year with damage exceeding a billion dollars, the National Oceanic and Atmospheric Administration said Monday.

That ties 2011 for the number of billion-dollar disasters, but the total cost blew past the previous record of $215 billion in 2005.

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