ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 20 11:14

Iran, Russia square up to US sanctions with 12 accords

Iran and Russia have signed a dozen cooperation agreements covering energy, railway, agriculture, pharmaceuticals and tourism, with senior officials stressing the political will of the two countries to reinforce ties in the face of US sanctions.

The agreements were signed as Russian Energy Minister Alexander Novak visited Iran with a delegation of 120 businesspeople, including representatives of private and public companies.

The two sides held their 15th meeting of the joint commission for economic and trade cooperation in Isfahan Tuesday, which was also attended by governors of several Iranian provinces and ministers of several Russian republics.

“Both Iran and Russia are affected by illegal sanctions. It is hoped that the sanctions can be used as an opportunity to expand ties and increase cooperation,” Iranian energy minister Reza Ardekanian said, stressing that there is “political will” on both sides to do that.

Jun 20 10:36

The Fed is Wrong About the Economy

Jun 20 10:11

Gold Prices Surge Nearly 3% to 5 Year High At $1,385/oz After Fed Turns Dovish

Gold prices surged nearly 3% to a high of $1,385/oz, their highest in more than five years today after the U.S. Federal Reserve adopted a more dovish tone. The Fed signaled possible interest rate cuts this year which sent risk assets higher, U.S. Treasury yields and the dollar lower.

Jun 20 10:02

These Chains Have Announced a Ton of Store Closings in 2019

These 38 chains are shutting down the most U.S. stores this year, counting down to the retailer turning out the lights at the largest number of locations. When you hit the liquidation sales, be sure to take along a cash-back credit card for additional savings.

Jun 20 09:31

Complete Technical Breakdown of Facebook’s New Cryptocurrency “Libra”

By Ivan Liljeqvist

Facebook’s new cryptocurrency Libra explained by a programmer who is running the test net code and read all of the documentation. Ivan Liljeqvist gives a complete breakdown of Libra’s technology, opportunity and potential pitfalls on his YouTube channel “Ivan On Tech”.

Watch the video below:

Jun 20 09:06

Half of Americans Are Effectively Poor Now. What The?

There are days I feel like I read dystopian statistics for a living. And then there are day when the dystopian statistics take even my jaded breath away. Here’s one: 43% of American households can’t afford a budget that includes housing, food, childcare, healthcare, transportation, and a cellphone. Translation: nearly half of Americans can’t afford the basics of life anymore.

Does that take your breath away too? It should. And yet it might not come as a surprise. You might know it intimately. The statistics say there’s an even chance you’re…living it. What a grim and bizarre reality. Half of people are effectively poor in the world’s richest country. What the?

Webmaster's Commentary: 

Because most of the wealth of this nation is tied up with the billionaires and the war machine.

Jun 20 08:19

Rejoice. The end of Banking is nigh.

Jun 20 08:03

Debt, Deficits and the Cost of Free Lunches

By Richard M. Ebeling

It seems that every generation or two, fundamental economic ideas are questioned and challenged. The reasonable and important idea that governments should balance their budgets on an annual basis was challenged in the 1930s by the rise of Keynesian Economics and the counter-argument that deficit spending was desirable, if it was used to maintain full employment. Now it seems that any defense or desire for fiscal restraint and less government spending and borrowing are entirely out the window. Fiscal folly is the watchword of the day...

Jun 20 07:57

13 Habits Young Professionals Should Consider Implementing

By Chloe Anagnos

Considering professionalism is an expectation that goes without saying in any career, it’s important to cultivate habits and disciplines that will set you up for success in the workplace.

Here are 13 professional habits you should be implementing now if you’re not already...

Jun 20 07:54

Universal Basic Income Is Little More Than Smoke and Mirrors

By Max Gulker

The U.S. government spends just shy of $1 trillion per year on aid to low-income Americans. This would be enough to give each of the estimated 40 million Americans living in poverty a check for over $20,000 per year. In two previous articles, I showed how the current failed system grew out of a snowballing bureaucracy and misguided paternalism from the left and right.

One can debate the role of government in addressing poverty within society at large. But the short-run imperative to switch the U.S. welfare system to one based on simple cash payments is clear. Much of the discussion along these lines has focused on a proposed universal basic income (UBI), which would provide cash payments to all Americans...

Jun 20 07:11

Mannarino: The Fed Is About To Go Nuclear!

Jun 19 17:41

TRUDEAU DECLARES CLIMATE EMERGENCY... THEN APPROVES MAJOR OIL PIPELINE

Canada declared a national climate emergency on Monday. The next day, Prime Minister Justin Trudeau gave the greenlight to a massive oil sands pipeline.

Jun 19 16:51

2019 Returns...

Jun 19 15:53

America’s First Third-World State

"Third World" is now an anachronistic geographical term of the old Cold War. But after 1989, “Third World” was reinvented from a political noun into an adjective to mean more than just Asian, African, and Latin American nations nonaligned with either the West or the Soviet bloc.

Rather, the current modifier “Third World” has come to transcend geography, politics, and ethnicity. It simply denotes poor failed states all over the globe of all races and religions.

Jun 19 15:51

ILLINOIS FARMERS HAVE “GIVEN UP” ON PLANTING

Farmers in Illinois whose land has been thrashed by flooding have given up on planting. Instead of growing food, they decided to throw a party. And who could blame them?

The storms that have caused major flooding in Illinois have forced farmers to give up on their crops. Forecasts for even more rain also sent corn futures to a 5-year-high, bringing the food crisis ever closer to reality. Few farmers will even see a benefit from the higher prices because they can’t even get their corn planted in the ground.

Dozens of corn farmers and those who sell them seed, chemicals, and equipment gathered on Thursday at the restaurant in Deer Grove, Illinois, after heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States, according to a report by Reuters. Rather than focus on the abysmal farming year, they decided to party instead.

Jun 19 15:26

AT&T Lays Off Thousands After Nabbing Billions In Tax Breaks And Regulatory Favors

Back in November of 2017 AT&T promised that if it received a tax break from the Trump administration, it would invest an additional $1 billion back into its network and employees. At the time, CEO Randall Stephenson proclaimed that "every billion dollars AT&T invests is 7,000 hard-hat jobs." Not "entry-level jobs," AT&T promised, but "7,000 jobs of people putting fiber in ground, hard-hat jobs that make $70,000 to $80,000 per year."

Yeah, about that.

The Trump tax cut resulted in AT&T getting billions in immediate tax relief, and roughly $3 billion in tax savings annually, in perpetuity. Yet when it came time for AT&T to re-invest this money back into its network and employees, AT&T actually did the opposite and began laying them off in droves.

Jun 19 15:24

A Generational Dose of Financial Reality

Jun 19 13:22

Tiny houses take over America...

Jun 19 12:37

Monetary Wars

Jun 19 12:30

Independent Trader News - June 2019

Jun 19 11:39

The calm before the storm

Jun 19 09:52

RAYTHEON, NORTHROP WILL ‘SOON’ FLY HYPERSONIC CRUISE MISSILE

SOURCE: BREAKINGDEFENSE.COM
PARIS AIR SHOW: Imagine a swarm of up to 30 hypersonic scramjets the size of cruise missiles, launched from air, land and sea. They share data with each other, correcting their flights, perhaps changing targets midcourse. And they can be manufactured relatively quickly and for much less cost than most of the hypersonic vehicles that have been built so far.

If you were China or Russia, would you be uneasy?

“The Raytheon-Northrop Grumman team is quickly developing air-breathing hypersonic weapons to keep our nation ahead of the threat,” Tom Bussing, Raytheon’s VP for advanced missile systems, said in a statement.

Webmaster's Commentary: 

Just great; we still have families sleeping in their cars; our infrastructure is crumbling as I input this, and every Foggybottomite is still fully engaged, parsing out "the meaning" of the 2016 election.

The people Americans have "hired", through the election process, are simply a group of individuals, who are owned by the companies which have contributed heavily toward their election success, to insure that these companies can "manage" what happens in this country, to continue to make them profitable.

With a political leadership this collectively asleep at the wheel, it is no wonder why the real problems facing this country go unresolved; but we will have terrific weapons with which to smash other countries, if they dare get "uppity!"

Jun 19 09:31

Oops, here we go again...

Jun 18 19:58

How Are Traders Positioned Ahead Of The Fed?

Jun 18 17:10

Investors are now positioned ‘risk off’

Jun 18 16:37

Is the Fed Dead?

Jun 18 16:28

4 Regional New York Newspapers to Fold...

Jun 18 16:25

The Oil Price Risk Analysts Are Ignoring

Jun 18 13:11

How to Retire Rich Without Social Security

Jun 18 13:10

Will Chicago Real Estate Ever Rise Again?

Jun 18 11:37

Iran at the center of the Eurasian riddle

With the dogs of war on full alert, something extraordinary happened at the 19th summit of the Shanghai Cooperation Organization (SCO) late last week in Bishkek, Kyrgyzstan.

Virtually unknown across the West, the SCO is the foremost Eurasian political, economic and security alliance. It’s not a Eurasian NATO. It’s not planning any humanitarian imperialist adventures. A single picture in Bishkek tells a quite significant story, as we see China’s Xi, Russia’s Putin, India’s Modi and Pakistan’s Imran Khan aligned with the leaders of four Central Asian “stans”.

Jun 18 11:29

Suicide Rate Soars In America — Why Are So Many Americans Killing Themselves?

‘Deaths of despair’ in the U.S. hit a record high – so how bad will things get when society starts to completely collapse?

Jun 18 08:54

What to do with a problem like Deutsche Bank?

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