ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Nov 13 09:52

Are US Equities Flashing a 'Crash Signature'

Nov 13 08:07

Your Daily Rescue Update

Nov 13 07:52

John Rubino – Panic Setting In?

Nov 13 06:38

Do You Really Need Half Your Money In Stocks?

Nov 13 06:06

This Wasn’t Supposed To Happen…

Nov 13 05:18

A Palpable Sense Of Panic

Nov 13 00:54

Peter Schiff: Divided Congress Means Even Bigger Deficits

Economic advisor Peter Schiff has long been warning of the false stability and phony prosperity we are seeing the markets. He’s now saying that since the elections, it is about to get much worse, as a divided Congress means even bigger deficits.

Nov 12 19:09

The Economic Consequences Of Debt

Nov 12 16:52

Understanding the Global Recession of 2019

Nov 12 12:16

Trouble brewing in Hong Kong

Nov 12 12:00

Trouble In The Sam’s Club Tent City

It seems that the state and federal governments once again are proving their inabilities to cope with another large scale natural disaster. Recently there’s been a spate of problems at a tent camp at a Sam’s Club in Panama City, Florida. Workers, many of whom who came from out of state to find work in Panama City cannot afford or find hotels rooms to stay in while they do their work in the area. So some of them had gotten together and setup a tent encampment at the Sam’s Club parking lot...

Nov 12 10:53

France, Germany Could Host Iranian Payment Vehicle to Side-Step US Sanctions

Despite the rumors that no one is willing to host the trade mechanism over fears of US sanctions, France or Germany have been named as the most viable options.

Either France or Germany might become the host nation for the European clearing house, usually referred to as a "special purpose vehicle" (SPV) — a payment mechanism that would allow European companies to bypass US-imposed sanctions on Iran.

The establishment of this mechanism is widely viewed as the moment of truth on whether the EU is genuinely ready to live up to its promise to keep the so-called Iranian nuclear deal. And, as US sanctions kicked in on November 5, Tehran is becoming more restless regarding the establishment of the SPV, the Guardian notes.

Iranian Deputy Foreign Minister Kazem Sajjadpour has already expressed his frustration at the pace with which the SPV is being set up, saying: "What is lacking is both speed and efficiency."

Webmaster's Commentary: 

So what happens when all of these countries adopt a payment mechanism which completely bypass US sanctions on Iran?!?

Is President Trump prepared to go to war with all of them, for ignoring US sanctions, and buying Iranian crude?!?

Nov 12 10:52

The Stories We Tell About Money - aantonop


Published on Apr 30, 2017
In this talk, Andreas recounts the history of Bitcoin and what it represents, building upon all the stories we've been told over the centuries about what "money" is, how we perceive its value, and why the old answers have changed as we adjust to this new world of digital peer-to-peer currencies. He also discusses global threats to economic stability and trust in the financial system, including demonetisation and wealth destruction through inflation.

Nov 12 10:49

GPS signals jammed: Norway, Finland warn pilots Russia may blind their navigation systems

In recent weeks, NATO conducted its largest military exercises in decades in the frigid waters and icy mountains of Norway. But something odd happened. The GPS signals guiding ships, aircraft, tanks, trucks and troops started to fail.

Civilian airliners, cars, trucks, cargo ships and smart phones operating in and around Norway and Finland experienced similar disruptions.

Why?

Russia is the chief suspect.

It was riled by the scale and location of NATO’s Trident Juncture manoeuvres — despite having itself conducted several massive military exercises in the Baltics recently.

Webmaster's Commentary: 

More Russia demonization, and absolutely no hard proof that Russia is, in fact, culpable here.

Nov 12 10:17

An Alarming Graph

Nov 12 08:02

Money Velocity Is Starting To Turn Up Again

Nov 12 05:21

Understanding the Global Recession of 2019

Nov 11 17:37

10 years after the recession, Americans wake up to rising prices

After years of low, low prices, fed by near-zero interest rates in a convalescing economy, Americans are waking up to costlier consumer living. -- Everyday household staples like diapers, toothpaste, shampoo and dishwashing liquid -- not to mention soft drinks, cookies, chocolate, cat litter and autos -- have all started getting more expensive, a trend expected to continue early next year.

Nov 11 09:33

Russia Clashes With Western Oil Buyers Over New Deals as Sanctions Loom

Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new U.S. sanctions.

Seven industry sources told Reuters that Western oil majors and trading houses have clashed with Russia's third and fourth biggest producers, Gazprom Neft and Surgutneftegaz, over 2019 oil sales contract terms during unusually tough annual renegotiation in recent weeks.

The development mirrors a similar stand-off between Western buyers and Russia's top oil producer, Rosneft.

Earlier this week, trading sources told Reuters that Rosneft wants Western oil buyers to pay penalties from 2019 if they fail to pay for supplies in the event that new U.S. sanctions disrupt sales.

Webmaster's Commentary: 

What concerns me greatly here, is how trade wars can morph into shooting wars.

I would like to hope that both President Trump and President Putin have the horse-sense to understand this, and will act rationally here.

But feel compelled to tell you; with President Trump, sometimes I see his behaviour as exceptionally mercurial, and that will do no one any good, if he puts his imprimatur on what comes down to rash decisions from the White House.

Nov 11 07:56

U.S. Stocks Drop on Global Growth Worries

Nov 10 17:58

Why Are so Few Americans Able to Get Ahead?

Despite the rah-rah about the "ownership society" and the best economy ever, the sobering reality is very few Americans are able to get ahead, i.e. build real financial security via meaningful, secure assets which can be passed on to their children.

Nov 10 12:00

New Home Inventory Forecasts A Recession

Nov 10 10:14

Trump Threatens To Cut Wildfire Funding Unless Cali Ends "Gross Mismanagement Of Forests"

As the wildfires ravaging Northern and Southern California destroy billions of dollars worth of real estate, President Trump reminded the world in a Saturday morning tweet that global warming - which many (on the left in particular) have blamed for the fires - isn't the responsible for the fires. Rather, California's inept forest-management strategies have left the state vulnerable as drought-like conditions have transformed the state's densely packed forests into a bed of kindling, just waiting to be set off by a stray cigarette butt.

In a tweet that seems almost tailor-made to trigger the left, President Trump threatened to revoke the "billions that are given each year" to the state if California doesn't address the "gross mismanagement" of its forests and take more steps to mitigate the fires.

Nov 10 10:02

Clueless Journalist Gets Dragged For Saying ‘America Isn’t At War’ In Election Day Tweet

Klein, the founder and editor-at-large for Vox.com, made the claim in a tweet about the mid term election on Tuesday, opining on why the Democrats took the House of Representatives. Comparing 2018 to 2008 — when Democrats took power amid a war in Iraq and Afghanistan — Klein argued that the Tuesday election was a “pure repudiation” of Trump, since unemployment was so low and America was no longer at war.

The only problem, of course, is that America is still at war in the same places it was in 2008, in Iraq and Afghanistan — albeit with a smaller footprint. And U.S. troops are still fighting and dying there: On the same day as Klein’s tweet, the remains of Army Maj. Brent Taylor touched down at Dover Air Force Base in Delaware; he was killed Saturday in Afghanistan, leaving behind a wife and seven children.

Webmaster's Commentary: 

From his abysmally tone-deaf evaluation that "the US is not at war", This man must be a Common Core graduate, because he demonstrates absolutely zero ability to do any critical thinking about what he doesn't see in the corporate media, and because of it, is a very "useful idiot" for the American Deep State.

Nov 10 09:34

The October Market Breakdown Is Still Valid

Nov 10 09:20

MONTANA JUDGE PUTS BRAKES ON KEYSTONE XL

A Montana district court judge has ordered the suspension of construction work on the Keystone XL pipeline on the grounds that violations were made in the government’s environmental review.

In a press release, the Center for Biological Diversity, one of the staunchest opponents of the project, noted that TransCanada had not yet made the final investment decision on Keystone XL and the latest court ruling might shake its belief that it is still a commercially viable project.

Nov 10 09:02

APPLE'S WAR ON REPAIR CONTINUES: AMAZON NOW BANS REFURB APPLE PRODUCTS FROM THIRD PARTIES

Apple has long understood that hardware products that last a long time result in falling unit sales, as customers opt to keep their old machines instead of buying the latest models; that's part of why the company led the charge that killed every single Right to Repair bill introduced last year -- less repairs leads to more "recycling," which is Applespeak for dropping used units into giant shredders without harvesting any usable parts first.

Every year, refurbishers rescue thousands of used Apple products from the e-waste streams, and every year, Apple finds new ways to frustrate their efforts.

The latest wrinkle: Apple has gotten Amazon to agree to ban the sale of refurbished Apple products except those that come from Apple directly.

Aaron Perzanowski, a law professor at Case Western Reserve University and coauthor of The End of Ownership, told me in an email that this decision is a dangerous infringement of ownership rights.

Webmaster's Commentary: 

Just what America needed in this rapidly tightening economy; a gigantic, dystopian corporation, ready to cause Americans as much fiscal pain as possible by refusing the right of owners to refurbish.

Nov 10 08:57

REWARD OFFERED IN THE MYSTERIOUS KILLING OF FORMER WORLD BANK ECONOMIST

The police and family of Johan de Leede have announced a new reward for information concerning the mysterious killing of 83-year old de Leede, a retired World Bank economist, in his Fairfax County home around 1 a.m. on March 11, 2016.

Someone shot and killed him from outside a living room window and vanished into the night.

The case is all the more baffling because de Leede was living a quiet life, tending to his garden and sailing at his home on an idyllic stretch of the Potomac River on the Mason Neck Peninsula near Lorton, Va. He was surrounded by a large family.

And so it was on March 11, 2016. Johan de Leede had enjoyed a meal with his wife and house guests that Friday night. Family members said everyone except him had gone to bed around 11:30 p.m. He had settled into a chair in his living room with a banana and a warm glass of milk, his nightly ritual. Around 1 a.m., his wife awoke to the sound of gunfire...

Webmaster's Commentary: 

Whatever he had gained information on, was apparently explosive enough to get him assassinated in his own home.

One has to wonder; what was going south in the world of the World Bank, right around this time?!?

Could it have been the intimate knowledge of what was happening here, and why?!?

Is Jim Young Kim destroying the World Bank?!?
We can only speculate; but someone did NOT want Johan de Leede to share, in any way, what privileged information he may have had.

Nov 09 19:35

Iran's Leadership Must Decide "If They Want Their People To Eat" - Pompeo

Less than a week after US Secretary of State Secretary Mike Pompeo told Fox News Sunday that the "Iranians are responsible for the starvation' of Yemeni civilians" he's again issued hugely provocative words, telling the BBC during an interview that Iranian "leadership has to make a decision that they want their people to eat" in reference to the latest round of US sanctions.

As the interview was with BBC Persian, Pompeo's words were immediately translated from English and broadcast to the Iranian public through BBC's Persian-language publication. Pompeo repeated his theme that Iran is the world's foremost state sponsor of terror and a "destabilizing influence" in the Middle East while ultimately blaming the country's economic suffering on the intransigence of the country's leaders.

Webmaster's Commentary: 

That this guy can stand there and lie, while people in Yemen continue to die, due to US/Saudi war crimes, including bombing sorties; the creation of starvation through blockading Yemen's ports, and destroying the water infrastructure, allowing thousands of Yemeni to die of cholera, must be an amazing gift in the wacky world of DC.

Sorry, Mike, but as long as you are going to continue to lie about the situation on the ground, I will stay compelled, as a Christian pacifist activist, to document what the US/Saudi war against Yemen is actually doing. (warning: very graphic images):

Images: Yemeni children dead and maimed for life, courtesy of US-enabled bombing runs

Images: Yemeni children dying from malnutrition, courtesy of US Military-enabled Saudi Yemen port blockade

Images: Yemeni children treated for, and dying of cholera, possibly weaponized

Notice that none of the presstitutes and warmongers on corporate media are not saying a word about the Saudi genocide in Yemen, which is why I must.

Nov 09 19:18

Trump Reportedly Wants To Replace Ross By Year End

Update: Adding to speculation that Ross's time in Trump's cabinet is coming to a close, Bloomberg has reported that Trump has been telling friends that he wants to replace Ross by year's end.

Just two days after President Trump ousted Attorney General Jeff Sessions, Politico is reporting that Commerce Secretary Wilbur Ross might be the next cabinet official to leave the administration as part of Trump's widely expected cabinet reshuffle.

Trump has reportedly grown frustrated with Ross over reports of his unsavory and ruthless business practices as well as his perceived ineptitude in negotiating trade deals. The president has repeatedly humiliated Ross in front of other administration officials, and accused him of being "past his prime," according to Bob Woodward's book "Fear."

Nov 09 19:05

Hedge Funds Brace For A November 15 Bloodbath

A few weeks ago, we reported that even when the market was hitting all time highs ahead of the historic October bloodbath, hedge fund investors were growing increasingly nervous, and rushed to redeem $15 billion from the space in September, the largest single monthly outflow in years, bringing year-to-date net flows to flat after being stubbornly in the green for much of the year despite what has been another deplorable year for hedge funds.

This was not the first time either: over the last three years, investors had removed over $100 billion from the industry, but performance gains had offset these losses... at least until last month.

And then October came which was not only a "bloodbath across almost every strategy", but was the worst month for hedge funds in 7 years.

Nov 09 18:59

Chinese Company Pays Bondholders In Ham Instead Of Cash As Domestic Defaults Soar

Forget PIK - this is PIG.

Regular readers of Zero Hedge are probably familiar with money-for-oil loans. But one liquidity-challenged pork producer is pushing an absurd twist on that concept that has helped to expose the financial dysfunction at many small- and medium-sized Chinese companies.

Instead of receiving cash, holders of local-currency bonds issued by Zhengzhou-based pork producer Chuying Agro-Pastoral Group Co will be paid with the company's ham, thanks to an agreement reached between the company and its creditors. Assuming the agreement, which was revealed in a security filing on the Shenzen Stock Exchange, holds, the "in kind" payments will only apply to the interest on the bonds, according to the South China Morning Post.

Webmaster's Commentary: 

This appears rather bizzare; one has to wonder just how long this business will be paying bondholders with product, rather than currency.

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