ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Nov 28 10:36

The coming economic and political collapse is going to be much worse, much longer, and very different than what we’ve seen in the past.

The inevitable breakdown of the European Union and the massive financial crisis it could trigger is an important theme for us right now.

Nov 28 10:31

Protecting law and order is everyone’s business

If you have been following the Dakota Access pipeline protest and thinking “poor Morton County,” think again.

This fiasco is very much our problem here in Ward County. We pay state taxes too. And our law enforcement officers and National Guard members get sent to Cannon Ball to help keep the peace like residents of any other town in North Dakota. We are all helping to cover the expenses created by a bunch of out-of-state, professional hoodlums who hide behind masks and throw rocks at officers sworn to uphold the law. We are in no way removed from this tragedy that is escalating daily.

Nov 28 10:17

The Engine of Inequality: Privilege

This is what we're up against: a status quo that has institutionalized soaring inequality and rising poverty as the only possible output of defending the privileged few at the expense of the many.

Nov 28 09:59

Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic: PREPARED NOW FOR A COLLAPSE OF EPIC PROPORTION

When you understand that our country can only operate based on debt/credit, not physical dollars, you finally see that the USA is a huge Ponzi scheme built on nothing more that our ability to borrow money.

Nov 28 09:41

What Trump voters want is economic power for themselves, not more taxes on the rich

Trump’s victory clearly appears to stem from a sense of economic powerlessness, or a fear of losing power, among his supporters. To them, his simple slogan, “Make America great again,” sounds like “Make YOU great again”: economic power will be given to the multitudes, without taking anything away from the already successful.

Nov 28 09:40

Back to the Retail Quagmire: Black-Friday-Weekend Woes End “Trump Effect”

Since Trump’s victory, stocks have soared in magic anticipation that the economy would somehow suddenly rise from its languid state and reach escape velocity.

Nov 28 08:15

China Inc. & Billionaires Dodge Capital Controls via Global Buyout Binge. Government Not Amused

The fear of further yuan devaluation.

Nov 28 07:53

Greece Is Not India? Hellenic Banks Plan "Tax On Cash Withdrawals" To Combat Black Economy

Greek banks have proposed a series of measures to combat tax evasion, strengthen the electronic transactions and limit the use of cash in the economy, and as KeepTalkingGreece.com reports, one of the measures proposed is a special tax on cash withdrawals.

Nov 28 07:40

Brexit Britain’s economy to grow MORE than expected, booming new figures show

The Organisation for Economic Cooperation and Development (OECD) raised its projections for Britain's gross domestic product (GDP) from 1.8 per cent to 2 per cent for this year and from 1 per cent to 1.2 per cent for 2017. It expects UK growth to hit 1 per cent in 2018.

Nov 28 07:33

Ticking timebomb: Italy's EIGHT banks will FALL if Renzi loses referendum...and DESTROY EU

ITALY's troubled banks face financial meltdown if Prime Minister Matteo Renzi fails to win the Italian referendum this weekend, officials have warned.

Nov 28 03:39

What It Feels Like To Be Homeless For The Holidays In America

Could you imagine spending the holidays in a homeless shelter, in a tent city surrounded by drug addicts and prostitutes, or in a sleeping bag on the cold, hard streets of an urban jungle?

Nov 28 00:16

The Hidden Communist History of the Neo-Conservatives (“Neo Cons”)

Neo-conservatism fully began to rear its ugly head in the 1990’s when they thoroughly infiltrated the once patriotic and pro-America Republican party.

It is therefore incumbent upon each and every single patriotic American who cares about the future of their country (especially federal, state, and local law enforcement and prosecutor offices) to immediately begin to identify, isolate, marginalize, investigate, indict, arrest, prosecute, and incarcerate all Neo-Conservatives as an internal and national security threat to the welfare of the United States of America.

Nov 28 00:11

Foibles, Fables and Failures – The Financial Press and its Keepers

The Presidential elections made millions of American voters starkly aware of the mendacity of the mass media and the corruption of the Clinton political elite.

The world’s largest billionaire bankers had bankrolled Secretary Hillary Clinton, the ‘million-dollar-a-speech’ War Goddess. They had bet heavily against the populist-nationalist Donald Trump and they lost. Their pre-paid political manifestos, addressed to the readers of the NY Times, flopped and sputtered: Most readers and investors in domestic markets had placed their bets on ‘The Donald’. Their domestic celebrations pumped up the market after the election.

The unimaginable had happened: George Soros had bet and lost! The ‘deplorable’ electorate preferred the obnoxious nationalist to the obnoxious speculator. ‘Who’d a thunk it?’

Nov 27 23:53

Trump the Great — Paul Craig Roberts

If Trump can defeat the oligarchy and save America, he can go down in history as Trump the Great.

What we don’t know is why groups that allegedly are liberal-progressive-leftwing are such fervent supporters of Hillary.

To the extent any of the Trump protesters are sincere and not merely paid tools of oligarchs, such as George Soros, military and financial interests, and global capitalists, they should consider that false claims and unjustified criticism can cause Trump and his supporters to close their ears to all criticism and make it easier for neoconservatives to influence Trump by offering support.

Nov 27 17:05

India's Modi Admits Plan Shifting Nation To "Cashless Society"

"we can gradually move from a less-cash society to a cashless society...this is the chance for you to enter the digital world."

Nov 27 15:01

News on the War on Cash: Now Spain

India, Uruguay, Australia and now Spain. The Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’

Submitted by Jeff Berwick:

In other words, Spain is going to make cash transactions even more difficult. As of presstime, from what we can tell, this has yet to be reported anywhere in English media except here now at TDV.

As you can see, the chaos is increasing. Combine cash bans with attacks on fake news (more on that tomorrow), and you end up disturbing a significant amount of people as we wrote here recently.

Nov 27 14:54

Half Of The High-Paying Jobs In America Now Require This Skill. If You Don't Have It, Go Take A Class.

There is a skill that half of the high-paying jobs in America require now, and many of you may not have it. You are being warned now.

Nov 27 14:07

Hit by Global Turmoil, Banks in Spain Get Jittery (Again)

Banking stocks in Europe continue to benefit from the gravitational pull exerted by the so-called Trump effect. But the effects have not been felt universally.

Nov 27 12:44

Jill Stein’s Twitter Shows Recount Is All About Defeating Trump

ill Stein’s Twitter feed reveals her Pro-Hillary and Anti-Trump positions from promoting Trump Riots to pushing false neo-fascist racism claims.

Nov 27 11:20

Obama’s Last Regulations To Impact Oil, Gas And Mining

The recent U.S. election has been one of the biggest news items the world over this month. And the change of presidents is also having some important effects on the natural resources business the past few weeks.

Nov 27 09:13

Black Friday Sales Surge To Record $3.34 Billion

E-commerce sales continue to rocket higher as the Black Friday total reached $3.34 billion The move to mobile was even more rapid as sales reached $1.2 billion, up 33% from last year.

Nov 26 20:38

Why Is the US Dollar Rising?

So where will mobile capital flow in an environment of rising socio-political risk, a multi-year USD uptrend and a dearth of safe, liquid markets?

Nov 26 20:29

Black-Friday Woes: When the Death of Department Stores Began and Where We’re Today

They no longer shop till they drop.

Black Friday is when you’re supposed to shop till you drop. It kicks off the holiday selling season. No season is more sacred for retailers. They’re expected to do about 40% of their annual sales in those few weeks till Christmas.

Nov 26 18:00

The Iran-Russia-China Strategic Triangle

21 November 2016
By F. William Engdahl

The developing economic, political and military links binding Iran, China and Russia in what I see as an emerging Golden Triangle in Eurasia, are continuing to deepen insignificant areas. This, while it seems to be US geopolitical strategy in a prospective Trump Administration to distance Washington from both Iran and from China, while dangling the carrot of lessened confrontation between Washington and Moscow–classic Halford Mackinder or Kissinger geopolitics of avoiding a two-front war that was colossally backfiring on Washington by trying to shift the power balance. At present, the dynamic of the past several years of closer cooperation by the three pivotal states of the Eurasian Heartland is gaining strategic momentum. The latest is the visit of China’s Minister of Defense and of Russian senior officials to Teheran

Nov 26 16:11

Is Dallas, Texas Bankrupt? The Collapse of Pension Funds Is Coming Nationwide!

Josh Sigurdson talks with author and economic analyst John Sneisen about the struggles many in Dallas are facing as the city faces bankruptcy.
With panicked retirees pulling out $220 million in six weeks as restrictions on withdrawals are put in place, this is just one of many reasons why the good people of Dallas have to pay attention.

Nov 26 15:33

Shipbuilding in Japan, Korea, China Collapses in Death Spiral of Orders - “Worse Than The One Following The Global Financial Crisis.”

New orders received by Chinese shipyards – now infamous for undercutting competitors and sinking into bankruptcy – have plunged 58.5% so far this year through October...

Nov 26 15:15

A Recession Could Change Everything

Nov 26 12:17

Small Retailers Face Threats At Every Turn

Small retail stores across the country are facing unprecedented pressures that go beyond the normal ebb and flow.

High rents have finally cracked a crop of retailers that had adapted and weathered the intrusion of the internet and chain stores thus far — think shoe stores, fabric stores, electronics stores.

Nov 26 11:23

Wells Fargo says that its customers gave up right to sue by having their signatures forged

Even though disgraced Wells Fargo CEO John Stumpf has left the building, his most outrageous legal theories live on: on Wednesday, the company filed a motion in a federal court in Utah seeking dismissal of a class action suit by the customers it defrauded -- the bank argues that since customers sign a binding arbitration "agreement" when they open new accounts, that the customers whose signatures were forged on fraudulent new accounts should be subject to this agreement and denied a day in court.

This is the same argument that Stumpf made during his disastrous performance in front of a blazing Elizabeth Warren -- that Wells's poor customers should be subjected to agreements they never made, because Wells stole their identities and "agreed" on their behalf.

Nov 26 10:59

Clintons and Federal Reserve bankers linked to fake gold in Fort Knox.

In October of 2009 China received a shipment of gold bars from the United States Department of the Treasury Bullion Depository in Fort Knox. The gold is regularly exchanged between countries to pay debts and to settle the balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government ordered special tests be performed to guarantee the purity and weight of the gold bars as China is the largest foreign holder of US Treasury securities. Chinese officials were shocked to learn that the bars were fake. The gold shipment contained a tungsten core with a thin coating of real gold. These tested gold bars originated in the US and had been stored in Fort Knox for years.

Nov 26 10:47

Sterling heading for best month in EIGHT YEARS years as EURO in CRISIS

The pound has risen by five per cent since the start of the month, as Asian analysts raise fears over the future of the Euro.

Nov 26 10:44

The 20 biggest tech disasters of all time

Sometimes, a small tech problem can lead to something much worse. Here are some of the most critical problems ever caused by faulty software, hardware, and other errors.

Nov 26 09:30

Italian lawmakers vote through Brussels-baiting budget

Italian deputies on Friday voted overwhelmingly in favour of a draft 2017 budget that the European Commission has warned will breach EU rules on the management of public finances.

Nov 26 09:27

Juncker warned to BACK OFF as banking experts accuse EU of politicising financial surveill

Top banking experts in the European Union have accused Jean Claude Juncker’s department of overstepping while calling for an independent body to take over.

European Central Bank policymaker Jens Weidmann said this week he is not the only one who believes change is necessary.

He said: "I do not believe that a Commission which interprets its mandate as politically as the current one is best suited to ensure budget surveillance in Europe.

Nov 26 09:21

Top German minister warns Merkel she NEEDS to negotiate beneficial Brexit deal with May

ANGELA Merkel has been warned by her own government she must give Britain a good Brexit deal as the UK is key to European Union economic success.

Nov 26 07:47

These 180 Countries Have a GDP Lower Than the Total U.S. Student Loan Debt

Student loan debt in the United States has never been higher, currently sitting at a touch above $1.3 trillion. With the Spring semester about 5 weeks away, the nation is getting ready to add anywhere from $25-$45 billion to that total.

Nov 26 05:06

The annual Budget Games begin: Trump vs. Congress to control spending

Alexander Bolton of The Hill kicks off serious coverage of the Trump administration with “Deficits could stand in the way of Trump’s agenda“.

Nov 25 20:31

Breaking News on the War on Cash: Now Spain

India, Uruguay, Australia and now Spain. The Minister of Finance and Public Service, Cristóbal Montoro has reportedly just announced “anticipated measures in order to ‘reduce the use of cash.’

Nov 25 19:10

Life’s Too Short to Lose Your Head in a Walmart Parking Lot at 3 A.M.

No, whatever money I would save isn’t worth the lifetime of bad karma I’d provoke fighting for a space in the mall parking lot.

Nov 25 19:07

The problems of the Italian banks continue

Monte Dei Paschi: Estimated EUR 13 Bln In Liabilities That Could Be Hit Under Bail In Rules – RTRS

Nov 25 18:37

Cash Crackdown Escalates: India May Impose 60% Tax On "Unaccounted" Deposits, Curbs On Gold Holdings

The scrambling Indian government is taking even more aggressive steps to part savers with their allegedly "laundered" cash, and according to overnight news, the latest proposal is to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes. Concurrently, the Indian government may also impose curbs on domestic holdings of gold as the war against "black money" escalates.

Nov 25 18:34

When Money Dies - India's Demonetization Is A "Massive Man-Made Disaster"

India faces a highly uncertain future. A vicious cycle has been set into motion by Modi and it will not end well. Unpredictable problems and unintended consequences are bound to surface incessantly. If Modi comes under sufficient pressure, he could easily go to war with nuclear-armed Pakistan

Modi, in his permament search for personal glorification could easily impose a state of emergency or martial law. This is in fact extremely likely, perhaps even inevitable, for the so-called intellectuals will beg for it.

As we have said previously: this will go down in the history books as one of the most naïve, least thought through policy decisions ever, a massive man-made disaster.

Nov 25 18:18

The Good Side Of Thanksgiving And The Bad Side Of Thanksgiving

I have to admit – of all the holidays on our calendar, Thanksgiving is one of my favorites. It is a time to gather with family and friends, and it is a time to give thanks for all the good things that have happened to us this year.

Nov 25 15:52

Trey Gowdy's Thoughts On Obamacare Costing Americans Jobs

Trey Gowdy hates the affordable health care act "obamacare" is costing americans jobs!

Nov 25 13:50

Make America Great Again is already happening

Donald Trump ran on the theme “Make America Great Again” (MAGA).

It’s still 55 days before his inauguration as President of the United States of America. Amazingly, MAGA is already happ

Nov 25 13:24

Pentagon Plans to Invest Billions in Undersea Drone Network

By Nicholas West

Despite ongoing evidence of colossal economic waste and manifest ineptitude by the Pentagon’s network of defense contractors, it isn’t stopping their commitment to spending many more billions of taxpayer money. Moreover, their plans are becoming even more long-range, saddling future generations with even more debt to service.

Their latest brainchild, according to a report in the Washington Post is an undersea network of drones and drone launch “pods” that will cover the 7 seas with patrol and defense capabilities...

Nov 25 11:54

Right Now, There’s A Lot Of Downside Risk To Gold.

Gold fell -21.70 to 1190.30 on very heavy volume, while silver dropped -0.30 to 16.43 on heavy volume. A strong dollar rally through the previous high of 101.54 was the probable proximate cause of gold’s tumble today; the buck ended up +0.64 to 101.66, but hit a multi-decade high of 101.86 intraday.

Nov 25 11:25

'Golden Era': China's Global Triumphant March Prompts Panic in West

China's investment in the US has surpassed America's investment into China, the Beijing-based Center for China and Globalization's latest report highlights. However, China's global expansion has prompted growing concerns in the West which is yet to reconcile itself with the reality of its fading economic influence in the world.

Webmaster's Commentary: 

To anyone paying attention, this...is a very big deal.

Nov 25 10:00

Surprise! Switzerland STILL world’s richest country and US second at $345K per person!

A drop in millionaires in Switzerland this year has failed to significantly dent the country’s impressive wealth, as a report by Credit Suisse declares it the richest country in the world yet again.

Nov 25 09:35

The Road to Recovery: Global Epocalypse Inevitable According to Trump’s Chief and World’s Largest Failing Bank

The financial end of the world in economic apocalypse is here. A funny thing happened on the road to recovery: Trump’s chief strategist admitted his view of the Trumpian future looks like the Great Depression.

Nov 25 07:59

Kellogg ‘Breakfast Council’ was made up of paid experts

On its website, Kellogg touted a distinguished-sounding “Breakfast Council” of “independent experts” who helped guide its nutritional efforts.

Nowhere did it say this: The maker of Froot Loops and Frosted Flakes paid the experts and fed them talking points, according to a copy of a contract and emails obtained by The Associated Press.

The company paid the experts an average of $13,000 a year, prohibited them from offering media services for products “competitive or negative to cereal” and required them to engage in “nutrition influencer outreach” on social media or with colleagues, and report back on their efforts.

For Kellogg, the breakfast council — in existence between 2011 and this year — deftly blurred the lines between cereal promotion and impartial nutrition guidance. The company used the council to teach a continuing education class for dietitians, publish an academic paper on breakfast and try to influence the U.S. government’s dietary guidelines.

Webmaster's Commentary: 

The other thing that Kellogg's Breakfast Council is not telling is the following:

Alarming Levels of Glyphosate Found in Popular American Foods

A number of Kellogg's products are named in this study; please do read this before you buy any more processed cereals for yourselves and your families.

Nov 24 20:26

The Man Who Got the Trump Call Correct Now Says Markets Are Too Exuberant

“The financial sector has been on fire, to a degree we haven’t seen since 2009,” Bianco said.

Nov 24 19:31

OBAMACARE BATTLE ROYALE | Maria Bartiromo Vs. Jonathan Gruber

Gruber is the prick who called the American people 'stupid.' This is good TV.

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Nov 24 14:06

Credit Spreads Tightening Consistent With Increased Growth Expectations

It’s important to note that corporate spreads have tightened as yields have increased.

Nov 24 11:45

The Trump Effect on Americans’ Perception of the Economy

“Hope” returns. But we’ve been through this before.

Nov 24 11:42

Pakcoins for Palestinians Project

I have created this thread to start a project to get Pakcoins into the hands(digital wallets) of Palestinians. I have several reasons for starting this endeavor. The main ones are to educate Palestinians, especially those living in the Gaza Strip about digital currencies. One of the other major reasons is that this effort will hopefully lead to greater use of Pakcoin and digital currencies among Palestinians in Gaza and the West Bank which will enable them to more easily resist the Israeli economic pressure against them...

Nov 24 10:04

Autumn Statement Exposes £122bn Black Hole In Post-Brexit Budget

Philip Hammond’s first Autumn Statement as Tory chancellor pointed to bleak times ahead, as cost of living is expected to rise, economic growth to slow and Brexit to leave a £122 billion black hole in the country’s finances.

Nov 24 09:07

Why rising interest rates could be ‘potentially lethal’

The yield on the U.S. 10-year Treasury note has jumped from 1.37% to 2.3% in just four months.

Nov 24 08:22

How Unpredictable Will the Crack Heads be About Italy?

Italy has a major referendum on December 4, the results of which could mark the start of an Italian exit… yet U.S. and most global stocks keep going up. They shot higher after a brief Brexit breakdown.

Nov 23 17:00

Former Reagan budget adviser: I see a ‘fiscal blood bath’ ahead

David Stockman, former Reagan budget director, warns investors to sell everything despite the rally in the markets.

Nov 23 16:48

12 Signs Of Extreme Optimism In America Now That Donald Trump Has Been Elected

The election of Donald Trump has brought a giant wave of optimism to conservative America unlike anything that we have seen since probably the days of Ronald Reagan.

Nov 23 16:23

What Will A Trump Presidency Mean To Your Retirement? (Baby Boomers)

Wall Street has rallied with a President-Elect Trump win, but Personal Capital advises not to let this affect your long-term investment strategies. Hold to your current strategy, and this especially applies to seniors. Trump has implied during his campaign that he will lower taxes, and Personal Capital says that taxpayers should wait to see what legislation is passed before changing tax strategy

Nov 23 16:18

UK Economy To Grow More Slowly After Brexit, Finance Minister Says

Britain’s economy will grow more slowly over the next few years than was forecast as a result of the country’s vote to leave the European Union, UK finance minister Philip Hammond says.

Nov 23 16:03

Are We Months or Years From a US Recession?

Looking at the US budget deficit as a percent of GDP however, revenues have begun to peak in a pattern consistent with the onset of prior recessions and suggest we may only be months away from such an event. If this pattern plays out as it has in the past, a US recession may be the first thing to greet Trump in office.

Nov 23 15:48

DALLAS TO DECLARE BANKRUPTCY?

The New York Times just reported that the Dallas police and firefighters pension plan is $7 billion short of meeting its obligations and needs an immediate bailout of $1 billion just to stay afloat. The problem is that Dallas’ annual budget is $3 billion.

Nov 23 15:46

Trump Has A PLAN TO SHRINK The Federal Workforce, And Govt Employees Are NOT Going To Like It

Story includes a very RARE pic of Trump and Clinton...

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Nov 23 15:40

Another Election Year, Another Bunch Of Fake Growth Numbers

Some pretty good economic reports have energized various parts of the financial markets lately. Consumer spending is up, GDP is exceeding expectations and even factory orders, that perennial downer, popped this morning.

Nov 23 14:52

Food-Stamp Growth May Be Behind the Midwest's Flip to Trump

In an earlier post we looked at nationwide growth in the Supplemental Nutrition Assistance Program (SNAP), also known as "food stamps."

We found that, thanks to many years of accelerated growth in the program under both George W. Bush and Barack Obama, 1 in 7 Americans now participate in the food stamp program.

There are, however, very large differences from state to state in how much the food stamp program has expanded. If we look at growth in the program from the year 2000 to 2015, we find growth varying from 641 percent growth in Nevada, to 54 percent growth in Wyoming:

Nov 23 14:42

David Skarica: Even Trump’s Best Policies Can’t Stop the Crash

Some investors are getting carried away with ‘Trump trades’. Now that he is elected we see the psychological optimism linked to cutting taxes, deregulation, and infrastructure spending being reflected in the stock market. David Skarica thinks the stock market is overvalued, and this upward trend won’t last long. He is preparing for a crash between the summer and fall- which is the common historical trend, as is a crash under a Republican majority.

Nov 23 14:10

How Much Does Great Powers’ Military Intervention in the Middle East Cost?

Is there a direct correlation between “investments” made into military operations and political influence in the region? The estimated cost of the Russian operation in Syria varies widely, from $3.3 million to $8 million per day (which would add up to $1.2 billion and $3 billion, respectively, since the operation began). This is comparable to the amount that the West spent on its air operation in Libya, which continued for eight months (from March to October 2011) and cost around $2 billion. Half of the cost was fronted by the United States, with France and the United Kingdom putting up $489 million and $412 million, respectively. In comparison, France’s four-month intervention in Mali (from January to April 2013) turned out to be quite cheap ($113.2 million). The U.S. air operations in Iraq and Syria called for greater financial resources. During two years of bombing (from August 2014 to July 2016), the Pentagon spent $8.4 billion on the operation, or $11.9 million per day.

Nov 23 12:21

The Liberation of the Slaves

Donald Trump can find better Jewish allies than Zionists or liberal NWO Jews.

Donald Trump’s electoral victory unleashed pent-up tectonic energies on an unprecedented scale.

The world has been changed, much more than could be expected from any election of a US president. Just a short time has passed since election day, but it appears that the New World Order has received a shattering blow. There is a great feeling of freedom in the air, as if the vote broke the chains of a generation, and we suddenly found ourselves free.

Nov 23 11:43

Trump Getting Strong Pushback From Loyalist Over Clinton Non Prosecution & Romney Possible Pick

My first mortgage (30 year fixed) I managed to lock in a rate of 10.45% - yes, that's right. I remember 30 year rates went as high as 16%! Several years later, I managed to refinance to a 15 year and was happy with a 7.85% rate. People today have no clue what it was like. If they can't afford a 4% interest rate today - then maybe they shouldn't be homeowners.

Nov 23 09:46

0.7% Of Adults Control $116.6 Trillion In Wealth, Wealth Transfer Is Now Complete

Existing home sales surge prior to the election. The top .7% of adults controls most of the wealth in the world.

Nov 23 09:37

Malware is making ATMs 'spit cash'

A Russian cybersecurity firm has issued a warning about a spate of remotely coordinated attacks on cash machines.

Hacks of banks' centralised systems had made groups of machines issue cash simultaneously, a process known as "touchless jackpotting", said Group IB.

The machines had not been physically tampered with, it said, but "money mules" had waited to grab the cash.

Affected countries are said to include Armenia, Estonia, the Netherlands, Poland, Russia, Spain and the UK.

Nov 23 09:34

Beware Of Trump Tolls: Pundits Praise Trump's $1 Trillion Dollar 'Public-Private Partnership' Infrastrcture Repair Plan; Involves Tolls, User-Fees On America's Highways

Many people are discussing how Trump's infrastructure plan will take shape and most importantly, how it will be paid for. Two Trump advisors released a detailed plan last month. Libertarian pundits are praising the public-private partnership plan's use of new tolls and added user fees across the country. But they also note that the fuel tax, which is supposed to be used to repair infrastructure, will not be repealed, since that would be too 'radical.' So essentially drivers are going to be charged and taxed out the ass to drive on roads which we have already paid for and which the fuel tax is supposed to be allotted for. As a small business owner in the transportation industry, I highly oppose such a plan. It would be a giant tax increase, disastrous to the very working man and small business owners who Trump appealed to during his campaign. Do not fall for Fascistic model of big corporations and government in cahoots. NO 'TRUMP TOLLS!'

Nov 23 09:28

The World Of Young Financers Have No Concerns About Robots Taking Their Jobs.

The youth of our Country are very optimistic about their business futures and the incoming new tech including robots.

Nov 23 09:07

Retailers Panic: 63% Of Americans Plan Not To Shop On Black Friday

The day after Thanksgiving, also known as Black Friday, is when the holiday shopping season in the United States traditionally begins and is the day when retailers (at least in the past) finally turned a profit, going from “being in the red” to “in the black.” However, in recent years, this trend has seen turned upside down, with sales on Black Friday slipping, as retailers offer pre-Thanksgiving deals ever earlier than in recent years to capture heavily discounted market share (think OPEC) and draw shoppers as "Black Friday" no longer marks the spending peak at brick-and-mortar chains.

Webmaster's Commentary: 

Claire and I have no plans to go anywhere near a mall on Friday! Those shoppers make Black Lives Matter protesters loot downright peaceful!

Nov 23 08:49

Why Reshore Manufacturing? It's the Only Way to Avoid Defective Pirated Parts

Reshoring the entire supply chain so it can be trusted is the low-cost solution once you add up the total lifecycle cost of a hopelessly counterfeit global supply chain.

Nov 23 08:04

The Revival Of The Working-Class Concept

The polarization in the country following the Trump electoral victory is not what Karl Marx called the “class struggle.” But it reflects an underlying class struggle — what Marx called the “uninterrupted, now hidden, now open fight” — which is a real thing, surely, in this country and globally. This struggle between capitalists and workers has never been totally eclipsed by struggles over anything else, including those involving “culture wars” and ethnic identity.

Nov 23 07:49

Is Minimum Wage Heading Higher? Why Our Restaurants Analyst Says Yes

Hedgeye Restaurants analyst Howard Penney thinks so. “Trump represents the little guy, and the little guy wants higher wages,” says Penney. “So the question is what number is it?”

Nov 23 06:42

Ron Paul on Trump's Promise To Audit the Fed

In this latest version of the Liberty Report, Ron Paul and his former legislative director Norm Singleton discuss the upcoming GOP Congress and Trump presidency, and whether they will audit the federal reserve. Singleton points out that during his campaign, Trump tweeted that the federal reserve will be audited in the first 100 days of his administration; so he is on record in support of such a measure.

Nov 23 04:23

Half Of The Population Of The World Is Dirt Poor – And The Global Elite Want To Keep It That Way

Could you survive on just $2.50 a day? According to Compassion International, approximately half of the population of the entire planet currently lives on $2.50 a day or less. Meanwhile, those hoarding wealth at the very top of the global pyramid are rapidly becoming a lot wealthier.

Nov 23 01:57

The War on Cash Escalates… With disastrous results for non-bankers…

In the last year several countries have, as a part of the War on Cash, begun removing larger banknotes from circulation in order to force people to perform all economic transactions through the banking system, ensuring that the banks would gain total control over the movement of money. Of course, the banks could not admit their true goal to the public. They instead used the governments to claim that the measure was being undertaken to restrict crime (money laundering, drug deals, black marketing, terrorism, etc.).

Nov 23 00:54

Food and beverage cargo tops most-stolen list in recent Thanksgiving weeks

Food and beverage items accounted for 31 of the 107 reported cargo thefts. Thefts of electronics, metals and clothing followed with 12, 11 and 10 reported thefts, respectively. During the four-year period, Texas was the most-targeted state with 35 thefts, almost double the amount of the next highest state. California logged 20 thefts during the period, followed by Florida with 18, Georgia with 12 and New Jersey with 7

Nov 22 21:23

British food exports outside the European Union BOOM following Brexit vote

BRITISH food exports to countries outside the European Union (EU) surged by almost 20 per cent in the three months to September, highlighting the growing importance of the UK trade outside the bloc.

The quarterly surge in trade is more than double the 9.6 per cent increase in food and drink exports to markets within the EU, showed the figures from the Food and Drink Federation.

Booming global demand for British chocolate, salmon, cheese and wheat shows how the economy can benefit after it is freed from the shackles of Brussels.

Nov 22 17:49

Gerald Gelente — 2017 Predictions-MSM Gone and Financial Market Panic Coming

Today’s economic and financial crisis originated in the rich world particularly in the USA. It has been called a financial meltdown, storm or credit crunch. Credit crunch is an economic condition in which investment capital is difficult to obtain.

Nov 22 17:22

While we certainly cannot say the COMEX will default and not be able to deliver for December, we can say the numbers are much larger …AND so is the pressure (via arbitrage)!

Here we are again, just six days away from a major COMEX gold (and silver) delivery month with a huge outsized amount of contracts outstanding versus deliverable inventory. For a background, COMEX holds 2,083,000 (nearly 65 tons) of registered gold. This amount is much higher than it was last December when it stood at a miniscule 152,000 ounces (4.7 tons).

Nov 22 16:03

Global Wealth Update: 0.7% Of Adults Control $116.6 Trillion In Wealth

In 2016, 3.5 billion adults, or 73% of total, had wealth under $10,000 accounting for 2.4% of global wealth. In contrast, the 33 million millionaires comprise 0.7% of the adult population, but own 46% of household wealth. And the, at the very top, 50,800 are worth at least $100 million, and 5,200 have assets above $500 million.

Nov 22 15:53

Did The "Trump Tantrum" Just Trigger The Next US Recession?

Trump called during the campaign for a $1 trillion infrastructure package, $5 trillion in tax cuts, increases in military spending and the repeal ObamaCare, which could cost more than $350 billion over 10 years.

Nov 22 14:58

Will Trump’s New Financial-Engineering Loophole Make Stocks Rally and Bonds Crash?

Goldman and the rest of Wall Street are smelling the money.

Nov 22 13:31

Fall and Rise of the Forgotten ‘Deplorables’

We’re in for a few surprises, for better or worse...

As might be anticipated, in the wake of Trump’s historic victory — a win that for all sorts of reasons has shaken the Beltway establishment and beyond to its core, and one that political junkies will be fixating on for years — there’s been much handwringing about how so many folks got the outcome so wrong. All of this has been accompanied by the obligatory hyperventilating and existential angst about what Trump’s election portends for the future.

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