ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 16 06:32

As Wall Street Sinks Global Markets, China’s Economic Policies Build Independence & Immunity

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Many Western economic analysts — such as those at the pillar of U.S. financial journalism, Bloomberg — have continued to predict future financial downturns would be caused by Chinese debt, or the country’s massive “shadow” economy (or, more specifically, low level loans that aren’t tightly regulated by the central government). This latest downturn, however, shows once again that Wall Street is still the primary factor in sinking global markets.

China has been faced with — and continued to grow throughout — a previous U.S.-triggered global recession just under a decade ago. While the current condition of the markets is nothing like the end of 2008, there is still the same fear in the West that China is somehow on the brink of catastrophe. Yet China pulled through the Great Recession, despite a huge decrease

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Feb 15 19:26

The Rise and Fall (and Rise Again?)

Feb 15 18:35

"Everything Has Changed", Lovesong for Satoshi Nakamoto Bitcoin Whitepaper (Taylor Swift cover) - Naomi Brockwell


Published on Nov 29, 2015You know that feeling of true love you feel when you read a revolutionary white paper for the first time?
Or that feeling of unbounded joy when you realise that there is no counter party risk in this new currency you're using and you've reclaimed your economic freedom?
Satoshi distributed my heart as soon as he distributed the network.
This is my tribute.

Feb 15 16:34

Bitcoin Whitepaper: A Beginner’s Guide

September 15, 2017

The Bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash System, was published in 2008 by Satoshi Nakamoto.

Bitcoin is revolutionizing the $1.8 trillion global payments industry and people around the world are rethinking the meaning of their money. Moreover, the underlying technology and network that process Bitcoin transactions, known as blockchain, is transforming industries as varied as banking, farming, logistics, healthcare, elections and manufacturing, to name a few.

Feb 15 16:20

Why | Pillar - Pillar Project

Pillar Project
Published on Jan 25, 2018
We want people around the world to take back control of their personal data. We want to empower us all with Pillar Wallet.

Learn more at https://pillarproject.io/jobs
The 'Grey' Paper: https://medium.com/@pullnews/the-pillar-project-gray-paper-d252be1dc74c

Feb 15 16:08

Ron Paul: Bitcoin vs. The Fed - Naomi Brockwell

Published on Feb 10, 2018 - At the Satoshi Roundtable in Cancun this year I got to sit down with the amazing Ron Paul and discuss why cryptocurrency is important. Dr Paul is a hero of the liberty movement especially because of the work he's done to spread awareness about the problems of government-controlled money and the federal reserve, so he is a huge inspiration for many of those involved with cryptocurrency. It was amazing to have him with us at the roundtable.

Huge thank you to Zap.org for helping secure the interview!

Feb 15 12:43

Ned Schmidt – Dow 16,000

Feb 15 11:12

Trump threatens retaliatory actions against China, S Korea

Meanwhile, China, which produces nearly half of the world’s steel, is accused of flooding the market in order to keep its economy robust at home.

“I will make a decision that reflects the best interests of the United States, including the need to address overproduction in China and other countries,” Trump said.

“They’re dumping and destroying our industry, and destroying the families of workers, and we can’t let that happen,” he added.

Although the president has another two months to make a decision on possible penalizing action, he strongly indicated that he wants to punish Beijing.

Experts, however, say that any such action will prompt China to do the same, raising the specter of a trade war between the world’s two largest economies.

Trump is under pressure at home as he has not been able to deliver on his campaign promise of being a champion of America’s Rust Belt.

Webmaster's Commentary: 

Upon reading this, I am having a double Picard face-palm, at warp speed.

After really needing nore cooperation with China on the issue of North Korea's nuclear program, and desperate to convince South Korea that Kim Jung Un's overtures to South Korea were really just theatrics, President Trump's timing of these threats against China and South Korea just possibly could have been worse: I just don't know how.

Feb 15 10:19

Philippines, China to work out how to tap oil, gas that both sides claim

The Philippines and China have agreed to set up a special panel to work out how they can jointly explore oil and gas in part of the South China Sea that both sides lay claim without having to address the explosive issue of sovereignty.

China claims most of the South China Sea, where $3 billion in sea-borne trade pass every year, and has competing claims in various parts of it with Brunei, Malaysia, Taiwan, Vietnam and the Philippines.

“It’s just the start of a process,” Philippine ambassador to China, Chito Sta. Romana, told reporters late on Tuesday after diplomats from both sides met for the second time under a bilateral mechanism aimed at defusing longstanding maritime tensions.

He said the decision to form a working group on cooperating on energy was a “breakthrough”.

Webmaster's Commentary: 

This well may be is a watershed moment in the relationship between China and the Philippines.

Bravo to both sides, well done!!

Let's hope that the mutual good will here extends to other areas of conflict between the two countries.

Feb 15 10:13

Soros brands bitcoin 'nest egg for dictators,' but still invests in it

Billionaire investor George Soros has recently criticized bitcoin, but it seems he’s not against investing in it himself. The tycoon’s fund has bought shares in cryptocurrency company Overstock.

Soros Fund Management held 2,472,188 shares in Overstock at the end of the fourth quarter of 2017, making the businessman the third-largest shareholder, CNBC reports, quoting regulatory filings. The shares were worth $157.97 million at the time of investment, but had lost more than $10 million as of Wednesday.

Feb 15 09:50

Who Is Going To Buy All This Us Debt?

Feb 15 08:32

Tractor-Hacking Farmers Are Leading a Revolt Against Big Tech's Repair Monopolies

Kyle Schwarting is a farmer by trade, and a hacker by necessity. His farm, about 20 minutes outside the city limits of Lincoln, Nebraska, is full of tractors and agricultural equipment, which he picks up in various states of repair from fellow farmers, fixes up, and resells.

“I would say what I’m doing is hacking,” Schwarting tells me, gesturing to a Windows laptop and a USB-to-tractor cable he Frankensteined himself.

The plan is to hook the laptop up to a gigantic John Deere combine, which, like all farm equipment, has become increasingly difficult to repair as companies have introduced new sensors and software into nearly every component. Schwarting has found a hacked version of John Deere’s Service Advisor software on a torrent site, which he can use to diagnose problems with the equipment and ultimately repair it. Without this software, even minor repairs will cost him thousands of dollars from a licensed John Deere repair person and more importantly, time.

Webmaster's Commentary: 

I can't say that I blame the guy; the "right to repair" should be fundamental, and not place a farmer into unpayable debt everytime something goes wrong with his equipment.

Also, with agriculture, particularly around harvesting season, time is money.

Feb 15 08:14

Brexit budget shortfall set to deepen EU cracks amid TOXIC fight with Poland and Hungary

THE EU will be roiled by a “toxic debate” between the Commission and some central and eastern European countries over the budget shortfall created by Brexit, according to the director of European think tank Bruegel.

Feb 15 08:05

Saudi Arabia boosts investment in Russian economy

Saudi investments in Russian projects has exceeded $2 billion, according to the head of the Russian Direct Investment Fund, Kirill Dmitriev.

“More and more Russian companies are investing in Saudi Arabia, and Saudi Arabia is investing in Russia. Saudi Arabia's investment in Russia has already reached more than $2 billion,” Dmitriev said.

Feb 15 08:03

Saudi Arabia Plans to Double Gas Production in Next 10 Years - Energy Minister

Saudi Arabia is planning to double its production of natural gas during the next 10 years to a target of 23 billion cubic feet per day, Saudi Minister of Energy, Industry and Mineral Resources Khalid Falih said on Wednesday.

"When it comes to natural gas, over the next decade we are going to be roughly doubling our production to 23 billion cubic feet per day and substantially increasing percentage of the natural gas in the Kingdom’s fuel mix, displacing liquids and therefore reducing carbon [emissions]," Falih said at the opening of the eighth annual IEA-IEF-OPEC Symposium on Energy Outlooks in Riyadh.

Feb 15 08:01

Russia to team up with China in Aramco IPO bid

Russia says it plans to participate in the initial public offering of the shares of Saudi Arabia’s energy giant Aramco in partnership with a joint investment fund China.

Kirill Dmitriev, chief executive officer of the Russian Direct Investment Fund, was quoted as saying by media that several Russian banks would also join the scheme which could proceed later this year.

“Not only this, but we have a Russia-China investment fund, and through that Russia-China investment fund we see a major interest in the Aramco IPO from a number of leading Chinese institutions,” Dmitriev told reporters, Bloomberg reported.

“We see significant interest to invest in the Aramco IPO from Russia, from China, and we believe that this is very good for, once again, thinking jointly about oil.”

Feb 15 07:59

Is History Repeating Itself In Oil Markets?

That was the warning from the International Energy Agency, which said in its latest Oil Market Report that a “second wave” of shale supply threatens another downturn.

Total global oil supply is expected to grow faster than demand this year, which could lead to another downturn. It’s a conclusion that the IEA tried to emphasize in previous reports, but the message finally seems to be sinking in.

The extraordinary run up in benchmark prices in December and January came to a startling end two weeks ago. Part of the reason was because of the broader market turmoil in equities, and part of it was because hedge funds and other money managers had overbought oil futures, exposing the market to a price correction.

But as the IEA notes, the real worry is rising oil supply, which means that “the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.”

Feb 15 07:42

Trump Privatizes America

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Well, many states and localities have blocks to prevent privatization giveaways. They want to prevent what happened in Indiana with its toll road. They say, “Wait a minute. Privatization is going to be a giveaway. It’s going to triple the costs of providing infrastructure services. It’s going to price our cities and states out of the market if we go along with this plan.” Trump’s plan says that in order to qualify for public funding, states have to abolish its regulatory framework, environmental laws and restrictions on private funding.

What Trump basically said is that states and cities have to let themselves be robbed blind by the hedge funds and Wall Street. Just as the hedge funds robbed Chicago blind on the parking meters – getting a huge rate of return that probably will force Mayor Rahm out of office at the next election – local governments have to let privatizers come in and vastly increase their cost of living for the infrastructure they need.

This means that this so-called infrastructure plan would have the effect of destroying America’s competitiveness instead of contributing to it.>>>

Feb 15 03:57

What the @#$! Just Happened?!

I think we’ll see the real, nasty, and painful bear market once there’s a major corporate event such as the failure of someone too big to fail, a geopolitical event, or, most likely, that the interest rates used to price loans that people use to borrow against their stock portfolios simply get too expensive. Then everyone will rush for the exits at once.

Feb 15 02:18

Almost half of Kiwis only just getting by day to day

New Zealand's economy is thriving but the mood of the country is not overly confident, with almost half of New Zealanders saying they are only just getting by day to day according to new research.

A report by ASB Bank and research agency TRA, Aligning with progress in New Zealanders lives, asked more than 1000 Kiwis what progress meant to them, and whether they felt they were progressing in their lives.

Just over half of those surveyed felt they were moving ahead, however 26 per cent felt they were standing still and 18 per cent said they were going backwards.

The research also showed 42 per cent of New Zealanders thought money was an issue, and they were only just getting by day to day.

Feb 14 20:02

Danielle Park – How Much Longer?

Feb 14 15:08

The Causes of the “Civil War” in the Words of Abraham Lincoln and Jefferson Davis

“When [the states] entered into the Union of 1789, it was with the undeniable recognition of the power of the people to resume the authority delegated for the purposes of that government, whenever in their opinion, its functions were perverted and its ends defeated . . . the sovereign States here represented have seceded from that Union, and it is a gross abuse of language to denominate the act rebellion or revolution.”

–Jefferson Davis, First Inaugural Address, Montgomery, Alabama, February 1861.

Lincoln asserted that it was not voluntary, and was more like what future generations would come to know as the Soviet Union – held together by force and bloodshed.

Feb 14 15:04

Southerner Sessions: 'Slavery' alone caused the Civil War

Doesn't know anything about Cannabis or American History it would seem. PC for sure though.

https://mises.org/library/lincolns-tariff-war

Jeff Sessions, a son of the South and President Trump’s attorney general, celebrated former President Abraham Lincoln’s 209th birthday with a blunt and bold statement that clashes with some of his fellow Alabamians and White House Chief of Staff John Kelly.

Speaking Monday at the Union League of Philadelphia’s Annual Lincoln Day celebration, he said slavery alone was the cause of the Civil War.

Feb 14 14:30

“US Foreign Policy Is the Greatest Crime Since WWII,” Former US Attorney General Ramsey Clark

The US Secretary of State’s criminally insane back handed remarks favoring a civil war, with all the probable loss of lives a civil war would bring, seems to fit as appropriate within a US foreign policy of world domination. Human suffering has never been of any consequence to the financial interests of that 1/10 of 1 per cent of Americans who, to one degree or another, rule us all.

That is the way it has been since the end of the Second World War, a war made possible by US investments and joint ventures in the rearming of Nazi Germany,[ 2] a war that made the USA rich and the first all powerful single superpower.

Feb 14 14:08

Is College Worth The Cost?

By Jeff Paul

The individual debt for college graduates in the United States is now above $30,000. Meanwhile, all of the world’s knowledge is nearly free because of the Internet. And we’re transitioning from a jobs economy to a skills economy. So we’re at a unique crossroads that creates a new paradigm for teenagers and their parents where college may not be a guaranteed path to a better life. But what choices do we have?...

Feb 14 13:19

What Event Could Crash the US Economy

Feb 14 10:54

$1.2 Trillion Asset Manager: Forget Volatility, The Real Financial Timebomb Is Public Pensions

As we have reported over and over and over (and over, and over), public pensions are in deep, deep trouble.

In addition critical funding shortfalls (U.S. public pensions had just 71.8% of assets required to meet obligations as of June 2016), many of the country's largest pensions have completely unrealistic target rates-of-return of 7% on average.

Feb 14 10:39

American decline: Open pools of raw sewage in the richest country in the world

As the wealthy continue sucking the country dry, the question now isn’t if the US will cease to provide a decent standard of living for its people. Rather it is how many people will be sacrificed on the way down.
In America, the richest nation in the world when measured by raw GDP, children are getting sick from living by open pools of raw sewage. This was one of many shocking findings by the United Nations late last year, following a two-week investigation into extreme poverty in the US.

The UN report was issued last December by a team of investigators who visited California, Alabama, Georgia, Puerto Rico, West Virginia and Washington DC.

Feb 14 10:13

Russian Deputy PM: Our Banks Are Ready To Turn Off SWIFT

Russian financial institutions are prepared to survive without access to SWIFT (The Society for Worldwide Interbank Financial Telecommunication) - the global dollar-based interbank payments network - should the US and European Union follow through with threats to cut it off, according to Deputy Prime Minister Arkady Dvorkovich.

"Certainly, it is unpleasant, as it will prove a stumbling block for companies and banks, and will slow down work. It will be inevitable to deploy some aged technologies for information transfer and calculations. However, the companies are technically and psychologically ready for the shutdown as this threat was repeatedly voiced," Dvorkovich said, according to TASS and RT, adding that such a dramatic step would negatively corporations doing business in the US and Europe.

Feb 14 08:19

Crypto CRASH: Ripple CEO warns cryptocurrency values could drop to £0 in price PLUNGE

IN A SHOCK admission, the CEO of one of the world’s most successful cryptocurrencies has said that he believes all digital currencies are set to plummet in value to a price of £0.

Webmaster's Commentary: 

Feb 14 07:34

Technically Speaking: Is The Correction Over?

Feb 14 06:17

Equities Vs GDP

Feb 14 06:16

CITY OF LONDON FINANCIERS CONTEMPLATE “IMMINENT” 2018 US STOCK MARKET CRASH OF UP TO “50%”

A new analysis published on the website of a London-based think-tank, funded by the world’s biggest banking and financial services institutions, warns that the US stock market is on the brink of an imminent crash that could trigger another global recession. The document by a senior US economist and former Houblon-Norman Fellow at the Bank of England is published on the website of the Centre for the Study of Financial Innovation (CSFI), which runs around 100 roundtable events a year involving financial services insiders from the UK and beyond

Feb 14 03:47

Conflict between Fiscal & Monetary Policy

Feb 13 21:32

Jeff Sessions Is Steamed Over Senator’s Cannabis Blockade

After Jeff Sessions stepped up his attack on state-legal cannabis, Colorado Sen. Cory Gardner decided to retaliate by freezing the Trump administration’s Justice Department nominees. It’s now a month into the blockade, and Sessions is steaming.
https://www.youtube.com/watch?v=3uSTOHa4Im4

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