ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 25 10:00

The Breakout Of The Decade?

Jun 25 09:09

Chicago Police Pension Goes Bust

Jun 25 07:44

Gerald Celente - War & Financial Calamity Two Biggest Trends; Iran, Oil or Tech Could Sink the Economy

Trends forecaster Gerald Celente thinks the economy is so weak that it must be propped up by massive fraud, and that means any black swan can sink this economic scam overnight. Celente contends, “It’s over, it’s over and that’s why gold is the ultimate safe haven to me.”

Jun 25 07:39

All Roads Lead to the Bubble-City Danger Zone

Jun 25 05:15

TWO ITALIAN ZOMBIE BANKS TOPPLED FRIDAY NIGHT

When banks fail and regulators decide to liquidate them, it happens on Friday evening so that there is a weekend to clean up the mess. And this is what happened in Italy – with two banks!

It’s over for the two banks that have been prominent zombies in the Italian banking crisis: Veneto Banca and Banca Popolare di Vicenza, in northeastern Italy.

The banks have combined assets of €60 billion, a good part of which are toxic and no one wanted to touch them. They already received a bailout but more would have been required, and given the uncertainty and the messiness of their books, nothing was forthcoming, and the ECB which regulates them lost its patience.

In a tersely worded statement, the ECB’s office of Banking Supervision ordered the banks to be wound up because they “were failing or likely to fail as the two banks repeatedly breached supervisory capital requirements.”

Webmaster's Commentary: 

The Euro itself is set to fall and fail; it not a matter of if, but when.

Jun 25 05:12

FLIMSY EVIDENCE AND FRINGE SOURCES LAND PEOPLE ON SECRETIVE BANKING WATCHLIST

A CORPORATE DATABASE used by banks and other institutions to screen clients for crimes such as money laundering and terror financing has labeled dozens of U.S. citizens as connected to terrorism on the basis of outdated or unsubstantiated allegations. An analysis of a 2014 copy of the database, which is known as World-Check, also indicates that many thousands of people, including children, were listed on the basis of tenuous links to crime or to politically prominent persons.

The database relied on allegations stemming from right-wing Islamophobic websites to categorize under “terrorism” people and groups like the Council on American-Islamic Relations, several mosques, and national and regional Islamic organizations.

Jun 24 20:43

MoD spends £44m a year renting empty homes across the UK

THE Ministry of Defence is spending more than £44million a year renting thousands of properties across Britain that stand empty.

Officials say it needs to keep homes available for servicemen and women with families returning from overseas postings, such as in Germany.

But nearly half of the properties – 4,623 – have been empty for more than 12 months.

They include 85 in the constituency of Foreign Secretary Boris Johnson, in Uxbridge, west London, which have stood vacant for 20 years.

Jun 24 14:49

America’s Unfolding Pension Crisis

Jun 24 14:20

First India Bans Cash, Now It’s Targeting Gold

By Jeff Paul

In November of last year, India banned certain cash notes in a bold move to force businesses into the banking system to better harvest more taxes from its livestock. Now, under the guise of “improving transparency” and forming a “common market,” India has begun targeting gold with new taxes, regulation, and incentives for citizens to turn over their undeclared gold to the financial sector...

Jun 24 09:05

IT’S THE BANKSTERS, STUPID

It’s something Americans should have figured out after the last financial crisis. The source of their misery stems from the policies of the Federal Reserve and international bankers. As usual, though, the establishment media has diverted attention elsewhere and the financial class of modern robber barons continues its pathological looting and will do so until the bottom falls out of the economy.

“While politics in the West reels from a decade of economic crisis and stagnation, asset prices continue to surge on the back of continued rapid growth in G3 QE,” writes Albert Edwards. “In an age of ‘radical uncertainty’ how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty—unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current political turmoil.”

Jun 24 07:00

Chicago Police Pension Goes Bust

Jun 23 16:46

As Oil Drops, Saudi Stocks…Soar?

Despite the rout in oil prices, the technical setup of the Saudi Arabian stock market (again) correctly foretold a rally.

Jun 23 15:31

Court Rules UK Government Acted Illegally In Blocking Israel Boycott

The judgment also declared that "anti-Israel and pro-Palestinian campaigning is not in itself anti-Semitic"

Jun 23 15:00

The Fed Is Now Preparing For The Next Economic Crisis, Here's How

Sears Canada decided to announce that it will be declaring bankruptcy, approximately 3000 people will lose their jobs. Warren Buffett steps in and purchases Home Capital Group, big surprise since they were on the verge of collapsing.

Jun 23 13:59

The canary in the asset bubble is popping: $3.8 trillion bubble that you are probably not aware of.

The death of retail as we know it is real. People are shifting their buying habits online in a fast and furious way. The only retail outlets that seem to be thriving are dollar stores but they are thriving because many Americans are living paycheck to paycheck and online shopping is too expensive for some. So it should come as no surprise that the way things were once done is being upended again by technology. Giants like Amazon and Wal-Mart are cannibalizing entire industries. Back in 2012 Amazon had less than 10 million Prime subscribers. Today it is over 80 million. So the big bubble that is now imploding is that in commercial real estate. There is $3.8 trillion in commercial real estate loans outstanding and the bubble in this market couldn’t be peaking at a worse time.

Jun 23 13:58

RETAIL HELL: 5,300 Stores have CLOSED this year

Jun 23 13:34

Will China Debt Balloon Crash Its Economy?

Jun 23 13:24

Does SOCIALISM work? Let's put this to rest. Don't take my word for it. Watch this Brazilian reporter answer that question!

Socialism works for the first few years. Then, you run out of money and it all goes to hell.

Jun 23 12:54

Canary In The Coal Mine: Unfunded Liabilities Have Turned Illinois Into A “Banana Republic” On The Brink Of Bankruptcy

Illinois is the perfect example of what happens when your state is run by fiscally irresponsible dunces for decades. The state is buried debt, and hasn’t passed a budget in over 700 days. 100% of their monthly revenue is being consumed by court ordered payments, and the Illinois Department of Transportation has revealed that they may not be able to pay contractors (who are working on over 700 infrastructure projects) after July 1st if the state doesn’t pass a budget. To top it all off, the state’s credit rating is one step away from junk status, the lowest of any state. Because of these factors, Illinois may become the first state to declare bankruptcy since the Great Depression.

Governor Bruce Rauner has gone so far as to call his state a “banana republic.”

The state’s comptroller has admitted that “We are in massive crisis mode.”

Jun 23 12:29

Saudi Reshuffle Could Completely Shake Up Oil Markets

The new crown prince is known to be a bit unpredictable. In the early phase of the oil price meltdown, he said that prices did not matter. But the plunge below $30 per barrel in early 2016 seemed to have changed the calculus. Last year Saudi Arabia became the principle driver behind a return to “market management,” that is restraining output to stabilize prices.

The IPO is another signature initiative of the young prince. He hopes to sell off 5 percent of Aramco, which he argues could raise around $100 billion (some analysts dispute that figure) in order to finance his Vision 2030, which calls for a diversification of the Saudi economy. The elevation of Mohammed bin Salman is being interpreted in some corners as an effort to accelerate this economic transformation. With low oil prices, a sizable budget deficit, large but dwindling cash reserves, and a restive and young population, time is of the essence.

Webmaster's Commentary: 

I hate the characterisation of war between Saudi Arabia and Iran as "inevitable", but in light of the fact that the US has now "thrown its hat in" with the House of Saud, courtesy of President Trump's recent visit to Riyadh, and his own virulently anti-Iran, pro-Israel stance, I am afraid that characterisation is absolutely correct.

Jun 23 12:22

McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is Its Math

The stock market is luvin' McDonalds stock, which has continued its recent relentless rise to all time highs, up 26% YTD, oblivious to the carnage among the broader restaurant and fast-food sector. There is a reason for Wall Street's euphoria: the same one we discussed in January in "Dear Bernie, Meet the "Big Mac ATM" That Will Replace All Of Your $15 Per Hour Fast Food Workers."

Below we show Cowen's full math laying out why the restaurant chain's client-facing fast food workers are now obsolete:

Webmaster's Commentary: 

This is going to be a game-changer for the economics of fast food; but what about the people the kiosks replace?!?

Jun 23 12:17

Senate announces probe of Loretta Lynch behavior in 2016 election

The Senate Judiciary Committee has opened a probe into former Attorney General Loretta Lynch’s efforts to shape the FBI’s investigation into 2016 Democratic presidential nominee Hillary Clinton, the committee’s chairman announced Friday.
In a letter to Ms. Lynch, the committee asks her to detail the depths of her involvement in the FBI’s investigation, including whether she ever assured Clinton confidantes that the probe wouldn’t “push too deeply into the matter.”
Fired FBI Director James B. Comey has said publicly that Ms. Lynch tried to shape the way he talked about the investigation into Mrs. Clinton’s emails, and he also hinted at other behavior “which I cannot talk about yet” that made him worried about Ms. Lynch’s ability to make impartial decisions.
Mr. Comey said that was one reason why he took it upon himself to buck Justice Department tradition and reveal his findings about Mrs. Clinton last year.

Webmaster's Commentary: 

Lynch will most probably have to be subpoenaed, and may well not respond to it even if she is subpoenaed.

IF I were Charles Grassley right now, I would be preventing her from leaving the country to go to a country with which the US does not have an extradition treaty; because, were I a betting woman, I would almost bet on her doing something like that, and right the heck now!!

Jun 23 12:14

Deportation fears drive down food assistance requests

Keeping it for the people who are Legally Entitled to AID

Kansas--- Applications are down 74 percent in the last four months compared with the same time a year ago.

Jun 23 10:04

Here Is The Reality Of Our Predicament: “The US System Is Going To Move Into The Next Phase Of Collapse Under Trump’s Watch”

Just after the US presidential election in 2016 I published an article titled ‘Order Out Of Chaos: Defeat Of The Left Comes With A Cost’, covering a rather difficult subject matter, namely the concept of “4th Generation Warfare” and how it is used by establishment elitists to defeat popular resistance to their agenda of centralization and globalization. 4th Gen tactics are confusing to many because most people think in terms of single movements and direct correlations; they think that a punch thrown is a punch intended to strike, rather than intended as a feint or misdirection.

Jun 23 10:04

Credit-Card Debt Slaves Move to Top of Fed’s Bank Worries

Projected losses at the top 34 banks in a “severely adverse scenario.”

Jun 23 09:53

Canary In The Coal Mine: Unfunded Liabilities Have Turned Illinois Into A “Banana Republic” On The Brink Of Bankruptcy

Illinois is the perfect example of what happens when your state is run by fiscally irresponsible dunces for decades. The state is buried debt, and hasn’t passed a budget in over 700 days. 100% of their monthly revenue is being consumed by court ordered payments, and the Illinois Department of Transportation has revealed that they may not be able to pay contractors (who are working on over 700 infrastructure projects) after July 1st if the state doesn’t pass a budget. To top it all off, the state’s credit rating is one step away from junk status, the lowest of any state. Because of these factors, Illinois may become the first state to declare bankruptcy since the Great Depression.

Jun 22 17:07

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s private wealth by the year 2021.

Jun 22 16:30

The Bitcoin Economy, in Perspective

Jun 22 15:50

Investors Have Become Brain Dead

Jun 22 15:44

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray. Prior to that, I had bought into the absurd assumption that I was financially successful at a young age primarily because I was hard-working and talented.

Jun 22 15:41

Now Comes The Fiscal Year From Hell

Four things are not going to happen in the Imperial City before October 1. That is, there will be no bill to repeal and replace Obamacare, no sweeping tax cut stimulus, no debt ceiling increase and no appropriations bills for FY 2018, which happens to commence on that date.

Jun 22 15:39

Debt Crisis 2.0: How the Pieces are Falling into Place

As the amount of household debt rises, so does the risk of another financial crisis. A new milestone has been reached in the U.S.

Jun 22 15:17

Welcome to Deflation

People are just starting to grasp why deflation is also present in the USA. Despite all the screaming about Quantitative Easing, most remain confused why hyperinflation has not taken place.

Jun 22 14:51

George Carlin - It's a big club and you ain't in it

You see, the owners of this country know the truth. It's called the American dream. Cause ya have to be asleep to believe it.

TRANSCRIPT + VIDEO

Jun 22 14:45

Robert Kiyosaki podcast – a banking revolution taking place

Banking is rapidly changing at the hands of financial technology.

Jun 22 14:43

We Can Pretend All We Want, The US Is In A Recession & Heading For The Big One

Retail sales continue to decline, when compared to wages we can see as wages are dropping so are sales. GE is in trouble, they do not have enough to meet their pension obligation.

Jun 22 14:34

Hawaii's largest homeless camp: rock bottom or a model refuge?

Tucked around a corner, a woman named Twinkle Borge greeted the schoolkids from her metal folding chair. A seven-year-old girl tugging a red wagon full of water jugs paused to give Borge a kiss on the cheek. Then all three walked into their home: the largest homeless encampment in Hawaii.

Remarkably, some 200 people live there, and six infants were born there over the past year alone. Even in the state with the highest homelessness rate in the US, it draws attention. Yet while residents acclaim it as a novel community that incorporates ancient Hawaiian principles, it is now at risk of being swept away.

“We know from what we’ve seen in the past, once an encampment goes above a certain size, it becomes unmanageable,” said Scott Morishige, the governor’s coordinator on homelessness.

Jun 22 12:59

Setup Initiated, The Central Banks Are Close To Pulling The Plug On The Economy

India joins the Bitcoin revolution. Ford is not building a plant in the US and it is not building a plant in Mexico, they decided to go to China. Illinois comptroller says they are very close to a major crisis.

Jun 22 12:04

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray.

Jun 22 11:36

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s private wealth by the year 2021.

Jun 22 10:56

Treasury Dept confiscating gold

GATA reported yesterday, and we picked up the story, about a golden rooster being confiscated by the Treasury in 1960. The rooster weighed in at a hefty 14 pounds of solid gold – that’s a lot of gold. The rooster was commissioned by a Las Vegas casino that would later become the Golden Nugget.

Jun 22 10:55

Senate Health Care Bill Includes Deep Cuts to Medicaid

Senate Republicans, who have promised a repeal of the Affordable Care Act for seven years, took a major step on Thursday toward that goal, unveiling a bill to cut Medicaid deeply and end the health law’s mandate that most Americans have health insurance.

Webmaster's Commentary: 

Ending the mandate that one MUST have health insurance is a good thing. It will force the health insurance companies to make their products attractive to consumers with lower rates and lower deductibles. A lot of people who were forced to buy "Obamacare compliant" policies wound up being severely hurt by them financially (including yours truly).

Jun 22 10:27

Why The Next Recession Will Morph into a Decades Long Depressionary Event...Or Worse

Economists spend inordinate time gauging the business cycle that they believe drives the US economy.  However, running in the background (and nearly entirely forgotten) is the population cycle.  The positive population cycle is such a long running macro trend thousands of years in the making that it is presently taken for granted. 

Jun 22 09:49

Still think crypto currencies are a store of value? Ethereum just flash-crashed 96% in a matter of minutes

In other words, just as I have repeatedly warned, on the day you want to get out of a crypto currency as it’s crashing, you won’t be able to sell. The value of the virtual currency will crash to almost zero in a matter of minutes, long before your sell transactions can be processed. This was neatly demonstrated today as Ethereum plunged 96% before most people even had a clue what was happening… all while Coinbase basically gave its users the finger.

Jun 22 09:34

Brexit boom for Britain as factory orders hit their highest level for nearly 30 years

BRITISH factory orders have hit their highest level for nearly 30 years, the CBI business organisation revealed today.

The figures will fuel optimism for Britain's economic future as we prepare to leave the European Union.

They also bear out analysis that the fall in the value of the pound since the EU referendum a year ago today, on June 23, 2016, has significantly boosted industry and particularly exporters.

Jun 22 09:22

RUSSIA vs. USA: Where’s The Gold Going??

As the United States continues to push towards a military conflict with Russia, there will likely be no real winner when the dust settles.  However, if we compare the these two superpowers in the current “gold market”, the Russians are the clear winners.

Jun 22 08:52

FLASHBACK - Stanford prison experiment

The Stanford prison experiment (SPE) was an attempt to investigate the psychological effects of perceived power, focusing on the struggle between prisoners and prison guards. It was conducted at Stanford University on August 14–20, 1971, by a research group led by psychology professor Philip Zimbardo using college students.[1] It was funded by the U.S. Office of Naval Research[2] as an investigation into the causes of difficulties between guards and prisoners in the United States Navy and United States Marine Corps. The experiment is a topic covered in most introductory psychology textbooks.[3]

Webmaster's Commentary: 

This is a famous psychology experiment, conducted in the context of a prison with guards and prisoners. In the experiment, who was a guard and who was a prisoner was decided totally by chance. But as the experiment progressed, the guards became abusive while the prisoners became submissive. As mentioned above, the experiment was canceled early because the abuse got out of hand.

Following yesterday's interview with Miriamme Azizi, it occurred to me that the dynamics of guard and prisoner apply to other situations than just prisons.

Any group, whether it be government, bankers, or clergy, that "imprisons" another group, either politically, economically, or religiously, will abuse the captive population, and over time, the abuse inevitably increases. From this simply reality, one gets dictatorship, impoverishment, sexual abuse of children, and other evils.

Following yesterday's interview with Miriamme Azizi, it is clear that this is going on in Israel, where Israel's government is increasingly abusing, not just the Palestinians, but Jewish Israelis and even Americans "imprisoned" inside Israel. And, of course, the same is happening here in the United States with an increasingly tyrannical government disrespective of our rights, and bankers, who commit fraud upon their clients with seeming impunity. And of course, the continuing problem of clergy sex abuse of children.

This is the science behind the old saying that power corrupts and absolute power corrupts absolutely. And it was awareness of this that led the Founding Fathers of the United States to design a weak central government with three separate branches to keep an eye on each other, and as a last resort, the Second Amendment right to keep and bear arms to hold an abusive government in check.

But clearly, in the face of the inevitable escalation of such abuse by our "guards", this nation is on the inevitable path to revolt. I don't like it, but I must accept it.

Jun 22 08:24

Traders Get Burned In Ethereum Flash Crash

The white hot cryptocurrency Ethereum went on a wild ride on Wednesday, plummeting from around $320 to around 10 cents in a so-called "flash crash."

...

As Adam White, the VP of GDAX, explained in a blog post, one investor placed a multi-million dollar Ethereum "sell" order at 12:30 p.m. on Wednesday. The size of the order caused the price of the currency, which is already volatile, to dip.

Things started to go really haywire, however, as the price dip triggered a series of stop loss orders.

"This slippage started a cascade of approximately 800 stop loss orders and margin funding liquidations, causing ETH to temporarily trade as low as $0.10," White explained.

In other words, the computers executing the stop loss orders began to sell at all costs and, so long as there was someone on the other side to match the order, the trade went through—even if the price was totally irrational, and driven only by an algorithmic frenzy.

Jun 22 08:20

Tech firms hoard huge cash piles

TAKE a moment to admire—and fear—the ascent of America’s big-five tech firms. Apple, Alphabet, Microsoft, Amazon and Facebook have recently become the five most valuable listed companies in the world, in that order. With a total market value of $2.9trn, they are worth more than any five firms in history.

Jun 22 08:13

ROGER STONE: END THE WAR ON DRUGS - LET TRUMP/CONGRESS KNOW!

THE UNITED STATES CANNABIS COALITION (USCC) IS A PRO-CANNABIS NON-PROFIT ORGANIZATION DEDICATED TO INFLUENCING FEDERAL LEVEL DECISION MAKERS

---VIDEO---

Jun 22 07:55

Automation's Destruction of Jobs: You Ain't Seen Nothing Yet

Employers have no choice: it's innovate/automate or die.

Jun 22 07:26

The Wheels Are Coming off the US-Driven Globalism Wagon

The battle between national sovereignty and globalism is the defining conflict of our era, and at the end of the day, it is assuredly economic in nature

Jun 22 07:20

‘We will respond’ EU prepares to STRIKE BACK as Trump’s steel war hits bloc ‘very hard’

THE United States’ proposals to slap tariffs on steel imports is hitting Brussels “very hard”, the EU’s trade commissioner has warned.

Jun 22 07:16

Moscow Resumed Cooperation With Most EU Countries, Russian Official Says

Russian Deputy Minister of Economic Development Alexey Gruzdev said Wednesday that Moscow renewed intergovernmental cooperation with two-thirds of European Union's member states, despite tensions with Brussels.

Webmaster's Commentary: 

The EU is getting off the US' anti-Russia bandwagon.

Jun 21 16:15

Bitcoin will be outlawed, or used to enslave us

A few days ago, cryptocurrencies sold off quite dramatically.

Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.

Jun 21 16:06

Is The Canadian Real Estate Market Heading Towards Crash?

Canada is a G7 country with a varied economy. As one of the US’ largest trading partners, what happens in the Canadian economy can have consequences for the rest of the world.

Jun 21 16:03

Big Step Forward for Sound Money: Texas Picks Company to Run Bullion Depository

By Michael Maharrey

The Texas bullion depository took a major step closer to reality last week when officials formally announced the private vendor that will run the facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Fed.

Gov. Greg Abbot signed legislation creating the state gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to to store gold and other precious metals, the law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions...

Jun 21 15:30

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States - where America's 1% are expected to control 70 percent of the nation's private wealth by the year 2021.

Jun 21 15:08

John Rubino–Tulip Backed Crypto-Currencies?

Jun 21 15:08

LOOK WHAT MIN WAGE JUST DID TO POOR FOLKS

Jun 21 14:54

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray. Prior to that, I had bought into the absurd assumption that I was financially successful at a young age primarily because I was hard-working and talented.

Jun 21 14:53

$300 Billion in Government Waste Uncovered

Tim Young sat down with Congressman Steve Russell (R-OK) to speak about his military service and his semi-regular publication Waste Watch.

Jun 21 14:26

Bitcoin will be outlawed, or used to enslave us

A few days ago, cryptocurrencies sold off quite dramatically.

Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.

And as a whole, the entire altcoins market capitalization fell over 20% excluding bitcoin.

Jun 21 12:37

Sears Canada Is DONE!

Jun 21 11:14

Has Warren Been Bought By Big Banks?

The Republicans have started work on undoing the damage done to the banking industry by Dodd-Frank. Predictably Democrats like Elizabeth Warren have gone all out in defending this bill. It is one thing to support a bill in its inception without seeing its real world consequences. It is quite another to keep supporting it when the bill is put in practice. At this point we have to ask ourselves. Have Elizabeth Warren and the Democrats been bought by lobbyists from Giant banks?

Jun 21 11:13

US Coast Guard Wants Icebreakers With Advanced Missiles

The US Coast Guard has two icebreakers, but both are aging, and one is ready to be scrapped outright. That’s got the Coast Guard interested in shopping for more, and while they’re at it, Commandant Admiral Paul Zukunft would like some that you can strap a bunch of missiles to.

Talking up the substantial natural resources buried under the ice in he Arctic, Zukunft is telling Congress that they should stop seeing the icebreakers as being about breaking ice,and more about firing missiles at planes and ships threatening “US sovereignty” over whatever is buried under that ice.

Specialists are warning that re-designing America’s icebreakers around carrying arsenals of missiles might get int he way of their transitional mission of breaking ice, and not exactly in keeping with the idea of the coast guard’s search and rescue operations.

Webmaster's Commentary: 

From the Coast Guard's Department of "You CAN make this stuff up", obviously.

Jun 21 10:15

Trump Imposes New Sanctions on Russia Over Ukraine Incursion

The Trump administration ratcheted up pressure on Russia on Tuesday, unveiling sanctions on more than three dozen additional individuals and organizations that have participated in the country’s incursion in Ukraine.

The Treasury Department made the announcement on the same day that President Trump hosted his Ukrainian counterpart, Petro O. Poroshenko, at the White House to discuss a peaceful resolution to the conflict with Russia. The sanctions also came as Mr. Trump continues to face questions about whether his campaign colluded with Russia to help him defeat Hillary Clinton.

Webmaster's Commentary: 

Alan Rappeport and Neil MacFarquhar, a word, please.

You two are either the most intellectually incompetent, or completely disingenuous alleged "reporters" on the face of this planet, and an absolute and utter disgrace to those of us who report real news, as opposed to fake news. And BTW, did anyone mention to you, that the "big lie" went out with the whoopie cushion and the dribble glass?!?

FACT: President Obama admitted that the US was thoroughly complicit in the overthrow of pro-Russian Yanukovych:

Washington Was Behind Ukraine Coup: Obama admits that US “Brokered a Deal” in Support of “Regime Change”

FACT: Victoria Nuland bragged about how much the US had spent to destabilize Ukraine, and place Poroshenko into power in an election which was more crooked that is a dog's hind leg:

Victoria Nuland's Admits Washington Has Spent $5 Billion to "Subvert Ukraine"

FACT: When Crimean officials realised that there was utterly no rule of law in Ukraine when Yanukovych was overthrown, they held a referendum, asking the Crimean people if they wanted to stay with Ukraine, or petition the Russian Federation to become a member. In a free and fair referendum, Crimeans voted overwhelmingly to petition the Russian Federation to accept them as a member.

Some 95.5% of voters in Crimea have supported joining Russia, officials say.

Russia never annexed Crimea; Crimea, post-putsch, requested to become a member of the Russian Federation.

FACT: This exercise in peaceful self-determination was adjudged as "illegal" by the US and Ukraine, and the US and Ukraine have been punishing Russia for something it did not do ever since.

Gentlemen, if you EVER had a shred of credibility, it has absolutely gone down in flames, with this story; and you have done it to yourselves, in not presenting what really happened here in a truthful manner.

Jun 21 09:12

Three Indicators Put The U.S. On Track For An Economic Disaster

Brexit talks begin and they will continue until a deal is reached, that is the plan. Housing bubble 2.0 is getting ready to pop, the Fed is removing the helium tot his bubble.

Jun 21 08:50

Trump Was Right: New Study Reveals Up to 5.7 Million Illegals Voted in Election

A new study reveals that up to 5.7 million illegal immigrants were likely to have voted in the 2008 election,

Jun 21 08:25

Most refugees to stay jobless for years – German minister

Up to three-quarters of refugees in Germany will still be unemployed in five years’ time, according to the country’s commissioner for refugee integration Aydan Ozoguz.

Jun 21 08:19

Bitcoin Surges Back Above $2700 As India "Legalizes" Cryptocurrency

After crashing 30% last week, Bitcoin is now up over 33% in the last few days helped by a surge in demand from India exchanges after the India government ruled Bitcoin as legal in India...

Jun 21 08:17

Lavrov on New Anti-Russian Sanctions: Russophobic Obsession in US Goes Too Far

Commenting on new US sanctions against Russia, Foreign Minister Sergey Lavrov said Tuesday that "Russophobic obsession" in the United States has gone "beyond all bounds," adding that they will not "improve the atmosphere" in the relations between the powers.

Jun 21 07:37

Danielle DiMartino Booth - Fed Trying to Cripple Trump Economy, Gold Could Take Off Like a Hockey Stick

Financial expert and former top Federal Reserve insider Danielle DiMartino says, “I think gold is in the very late stage of a correction phase.

Jun 21 07:17

Harry Dent: Car Sales Were Always Going Over This Cliff

The Retail Apocalypse.

Carmageddon.

Same story.

Different industry.

Jun 21 07:14

Even Japan Is Now Considering Joining China's One Belt, One Road

Japanese Prime Minister Shinzo Abe’s olive branch to the “One Belt, One Road” Initiative (OBOR) last week heralds the potential of a relaxing of Japan’s posture toward China. Speaking at a forum on Asia’s future in Tokyo on June 5, Abe said that Japan was ready to cooperate with OBOR under certain conditions.

OBOR is Chinese President XI Jinping’s 2013 initiative, involving both a land-based economic Silk Road and a maritime trade corridor linking China, Southeast Asia, India, Africa, and Europe. While Xi states he wants to create a “big family of harmonious coexistence,” skeptics see a thinly disguised attempt for China to position itself as a regional leader, replacing the United States’ traditional role.

Jun 21 06:47

Ford Shifts Production of Focus to China, from Michigan and Mexico, as New CEO Cuts Costs

“Improving the company’s operational fitness.”

Jun 21 06:34

69 Percent Of Americans Do Not Have An Adequate Emergency Fund

Do you have an emergency fund?  If you even have one penny in emergency savings, you are already ahead of about one-fourth of the country.  I write about this stuff all the time, but it always astounds me how many Americans are literally living on the edge financially. 

Jun 21 05:59

UNITED NATIONS ECONOMIST ARRESTED FOR OVERWORKING AND UNDERPAYING A MAID; STIGLITZ CO-AUTHOR

A United Nations economist has been arrested in New York on fraud charges related to his hiring of a domestic worker. Hamidur Rashid was charged Tuesday in federal court. Authorities say the 50-year-old employee in the United Nations Secretariat underpaid and overworked a domestic worker at his Manhattan residence.

Jun 20 18:52

You Think Hawaii is Expensive Now? Wait Until The Universal Basic Income

By Jeff Paul

I spent three years in Hawaii. It’s obscenely expensive to live there. Real estate, food, electricity, health care, and travel costs are significantly higher in Hawaii than on the mainland. And incomes aren’t rising fast enough to match rising cost of living. As a result, many natives rely on government aid to survive. This week, Hawaii passed a new measure to study the universal basic income (UBI) as an attempt to address this problem.

But will it make costs even higher?

The bill, House Concurrent Resolution 89, declares that all families are entitled to basic financial security and empowers a number of government offices to evaluate universal basic income options...

Jun 20 16:36

Hong Kong Warns: Its Housing Bubble is a “Dangerous Situation”

The HK financial system is “very strong” and “can withstand an adjustment in the property market.”

Jun 20 16:08

Teamsters private pension near bankruptcy; benefits of 407,000 retirees may be ‘virtually nothing’

America’s public (i.e, government) and private pensions are in trouble. The difference is that the government pensions don’t go bankrupt because Uncle Sam hits taxpayers to continue funding government retirees.

Now, one of America’s biggest private pensions — the Teamsters’ Central States Pension Fund that covers more than 1,500 companies across a range of industries — is nearly bankrupt.

The fund currently pays out $3 for every $1 it takes in.

Jun 20 16:07

Argentina (!) Sells 100-Year Dollar-Denominated Junk Bonds

Yield-desperate investors stop before nothing. What have central banks wrought?

Jun 20 15:54

The Petrodollar System and the Petrodollar Wars Explained

The petrodollar system was set up by Kissinger in circa 1975 to drive up the demand for U.S. dollars.

Jun 20 15:54

Illinois Comptroller: “The State Can No Longer Function, We Have Reached A New Phase Of Crisis”

"The state can no longer function without a responsible and complete budget without severely impacting our core obligations and decimating services to the state's most in-need citizens," Mendoza wrote. "We must put our fiscal house in order. It is already too late. Action is needed now." -- Unveiling the most dire langage yet, in her letter Mendoza said "we are now reaching a new phase of crisis" perhaps in an attempt to prompt the Democrats and Republicans to sit down and come up with a compromise...

Jun 20 15:53

Financier found dead after gay bondage hookup went bad: cops

A Brooklyn financier was found naked and dead in his tony Dumbo pad — after a gay bondage hookup went awry, police sources said Tuesday.

Neil Rodney Smith, 57, CEO of the investment firm Infraccess, was discovered lying on his back in bed with a wet towel stuffed in his mouth and a pillow over his face inside the apartment at 1 Main St. around 1:45 p.m. Monday, police sources said.

“He went online and hooked up with some guy and, whatever they were doing,” he died, a police source said.

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Jun 20 15:23

Amazon’s acquisition of Whole Foods creates a dangerous monopoly

One of the big questions on everyone’s minds following the recent acquisition of Whole Foods Market by Amazon.com CEO Jeff Bezos is what will become of the natural and organic grocer moving forward? The prospect of Whole Foods becoming more like Bezos’ other ventures is an ominous one for many people, especially because it affects something that’s very near and dear to all of us: Clean, chemical-free food.

Jun 20 14:52

24% of Americans don’t have single dollar saved for emergency…

You can take this to the bank: Americans are messed up about money. A slew of new surveys and data have come out revealing that we don’t save enough, we spend money we don’t have, we have our financial priorities backwards — and more. Here are five new stats that prove Americans are backwards about money.

Jun 20 14:42

Small-Cap Investors Have Never Been So Complacent

Volatility expectations in the small-cap space just hit their lowest level on record.

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