ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 11 04:24

De-Dollarization Continues As More Countries Separate Themselves From The Dollar

American's had to borrow big in July.  Wholesale inventories jumped to the highest since the November slide. Atlanta Fed is now reporting a 3.0 GDP number, completely manipulated.

Sep 10 18:02

The Long-term Cycle of Monetary Crisis

Sep 10 15:02

BTW: The US Dollar Has Been Crashing

Sep 10 11:28

Rickards: The Era of Complacency Is Ending

Sep 10 08:42

Harvey Hits Chain Restaurants – But Not Just Harvey

Worst downturn in foot traffic and same-store sales since 2009.

Sep 10 08:19

China questions German minister's 'one Europe' comments

China expressed dismay Thursday after Germany's foreign minister said Beijing should not "attempt to divide us" following complaints China uses its status as an investor to influence European Union decisions

Sep 10 08:19

Sigmar Gabriel’s mission to halt China’s investment spree

When German Vice Chancellor Sigmar Gabriel lands in Beijing Tuesday for talks with Chinese Premier Li Keqiang and other officials, he is set to deliver a one-two-three punch: Open your market for German investors, keep your government out of our businesses — and don’t mess with your closest European trading partner.

Sep 10 08:18

{WISHFUL THINKING IMAGERY} ~~ MOVE OVER PUTIN! KARL MARX IS COMING BACK!!

Suddenly, Marx is cool again, mainly because he was, and remains today, one of capitalism’s most astute critics.

Sep 10 07:59

Russian Mir cards to replace Visa, MasterCard soon  

Russia’s biggest bank Sberbank says it is preparing to issue 10 million credit cards to citizens – a move which is expected to take the country closer to a plan to replace rivals like Visa and MasterCard.

Sep 09 15:57

Credit Agency Equifax Threatened To Pay Up In Bitcoin Or Else

By Aaron Kesel

Credit reporting agency Equifax was hacked, potentially endangering 143 million Americans’ social security numbers, birth dates, and other private information. Unless, according to the alleged hackers who hacked them, Equifax pays the 600 BTC ransom (2.6 million dollars) by September 15th, according to a Darkweb onion site.

The supposed hackers note that they won’t publicly post credit card numbers of the credit agency, suggesting they may pawn them on Darkweb carding forums...

Sep 09 11:03

Here's Hartford's Risky Plan To Strongarm Concessions From Its Creditors

After Hartford Mayor Luke Bronin had warned Thursday that the capital of the wealthiest state in the US could be broke in as little as two months, city officials scheduled a conference call with bondholders to begin restructuring talks, according to Bloomberg.

As we noted earlier, Hartford’s financial troubles have been compounded by a broader crisis in the state government. But the city’s yearslong descent into insolvency has been hastened by corrupt and incompetent political leaders, fleeing middle-class residents – and now the hollowing out of the insurance industry that once provided a crucial tax buffer.

Webmaster's Commentary: 

This move could well blow up in Hartford's face.

Sep 09 10:08

US Assault Ship Loaded with Joint Strike Fighters Heads to North Korea

The USS Wasp is sailing from its homeport in Virginia to Sasebo, Japan, to join the US Navy’s 7th Fleet and bring Washington’s most advanced fighter jets to North Korea’s backyard.

The Wasp, an Amphibious Assault Ship and lead ship of her class, doesn’t have quite as much surface area for jets to take off and land as the larger Nimitz-class aircraft carriers, but the ship will still bring a new squadron of carrier-compatible F-35B aircraft to the 7th Fleet’s area of operations.

The F-35 B jets have the AV-8 B Harrier’s capability of taking off vertically, as a helicopter does, while also being able to operate in the air like fighter jets.

Placing the Amphibious Assault Ship in proximity to the Korean Peninsula “ensured that our most technologically-advanced air warfare platforms are forward deployed,” USS Wasp Cmdr. Andrew Smith said in an August 30 release.

Webmaster's Commentary: 

This does not auger well for peace on the Korean Peninsula.

Sep 09 10:04

SENATE BLOCKS RAND PAUL’S BILL TO GIVE MONEY TO HURRICANE VICTIMS INSTEAD OF FOREIGN DICTATORS

As estimates to fix the damage caused by Hurricane Harvey reach over $100 billion, the U.S. Congress has pushed for a bill that would raise the national debt in order to pay for it. Kentucky Sen. Rand Paul suggested a different solution—why not make cuts to foreign aid in order to help Americans in need?

“My amendment, the ‘America First’ amendment, would take the money from money that we were going to send to foreign countries,” Paul said. “We send billions and billions of dollars to countries who hate us. We send billions and billions of dollars to countries who burn our flag. I think it’s a very simple choice that when we’re looking at those in need in our country, we quit sending money to other countries.”

Paul noted that with the current budget, American taxpayers are funding a failed foreign policy by sending billions of dollars to countries such as Afghanistan, where President Trump recently promised to continue the longest war in U.S. history.

Webmaster's Commentary: 

This is absolutely logical, rational, and reasonable; which is why it had absolutely zero chance of getting passed by the Senate!!

Sep 09 08:18

Just in Time? "Tulip Mania" Blossoms Again

Sep 09 08:13

Bill Bonner: The end of bitcoin?

Sep 09 07:08

Culturally Responsive Teaching: connecting education to communities of color begins with Truth they are ongoing targets of illegal US .01% rogue state empire

*hyperlinks/videos live at source*

“One of the sayings in our country is Ubuntu – the essence of being human. Ubuntu speaks particularly about the fact that you can't exist as a human being in isolation. It speaks about our interconnectedness. You can't be human all by yourself, and when you have this quality – Ubuntu – you are known for your generosity. We think of ourselves far too frequently as just individuals, separated from one another, whereas you are connected and what you do affects the whole World. When you do well, it spreads out; it is for the whole of humanity.” ~ Desmond Tutu, 2008

Sep 09 05:50

The Era of Complacency Is Ending

Physicists say a “subcritical” system that’s waiting to “go critical” is in a “phase transition.” A system that is subcritical actually appears stable, but it is capable of wild instability based on a small change in initial conditions.

The critical state is when the process spins out of control, like a nuclear reactor melting down or a nuclear bomb exploding. The phase transition is just the passage from one state to another, as a system goes from subcritical to critical.

The signs are everywhere that the stock market is in a subcritical state with the potential to go critical and meltdown at any moment. The signs as elevated price-to-earnings (P/E) ratios, complacency, and seasonality — crashes have a habit of happening around this time of year.

Sep 09 05:42

Germany’s HUGE export secret: The one economy fact Merkel does NOT want the world to know

There has been growing scrutiny over Angela Merkel’s nation’s trade surplus, which has provoked anger from the United States’ president, but the balance sheet for 2017 will add fuel to that fire.

Over the course of the year Germany will sell more across its borders than even they expected with reports claiming exports have hit a “breathtaking rate since the financial and economic crisis”.

While firms, employees and the treasury have all seen the benefit, anger is growing from trading partners over the burgeoning account surplus.

Webmaster's Commentary: 

The problem isn't that Germany makes and sells products other nations want, but that the United States no longer does!

Sep 09 05:14

THE U.S. PETRO DOLLAR BREAKDOWN CONTINUES: Big Moves In Gold & Silver Ahead

The four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end. Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A. Let’s say, Americans will finally receive “Precious metals religion.”

The U.S. Dollar Index fell considerably yesterday and is now down below a key support level. In early morning trading yesterday, the U.S. Dollar Index fell to 91.46, down 73 basis points:

Sep 09 05:06

Venezuela Is About To Ditch The Dollar In Major Blow To US: Here's Why It Matters

Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.

According to Reuters, Maduro was referring to Venezuela’s current official exchange rate, known as DICOM, in which the dollar can be exchanged for 3,345 bolivars. At the strongest official rate, one dollar buys only 10 bolivars, which may be one of the reasons why Maduro wants to opt for some of the weaker exchange rates.

Sep 09 04:48

California Dreaming – More than a third of California households have virtually no savings.

A lot of people do not equate California with poverty. You certainly don’t think of poverty when you look at real estate values in places like San Francisco even though the homeless issue is right in your face. The reality is that most people do not live lavish lifestyles. In fact, a new report highlights that more than one-third of California households have virtually no savings. These households would not have the ability to live at the poverty level for three months if one paycheck in the household was lost due to a job loss. You also have more than 2 million young adults living at home with their parents since the rent is too high. This isn’t the California that is presented in Hollywood movies.

Sep 08 18:15

Where Are We Going?

Sep 08 13:09

How To Invest In An Overvalued Market

Sep 08 13:04

Jim Kunstler Warns, America Is About To Become An "Even More Fragile Place"

Further proof, as if more were needed, that God is rather cross with the world’s number one exceptional nation: Hurricane Irma is tracking for a direct hit on Disney World. In the immortal words of the Talking Heads: This ain’t no party, this ain’t no disco, this ain’t no fooling around.

Houston is still soggy and punch-drunk, with a fantastic explosion of breeding mosquitoes, and otherwise it’s not even in the news anymore. This week, the cable networks had their scant crews of reporters scuttling around Florida, asking the people here and there about their feelings. “What’s gonna happen is gonna happen….” I think I heard that one about sixty times, and there’s actually no disputing the truth of it.

Sep 08 12:36

Anonymous anti-BDS group publishes ‘blacklist’ of boycott supporters in New York

Early last week, an unidentified group launched a shadowy website identifying New Yorkers believed to support the boycott, divestment and sanctions (BDS) movement for Palestinian rights—placing their photos, social media links and email addresses on a “blacklist” located at OutlawBDS.com. The list features ninety-seven individuals divided into the categories Campuses, Public & NPOs and Private Sector Activists.

Among those who appear on the so-called blacklist are professors, journalists, students, non-profit staff-members and executives.

Project OutlawBDS claims it was established by a group who “consider themselves to be analytical in their approach to the BDS movement,” whose stated intention is to “provide support for New York State Senate Bill S2492,” the latest attempt to pass anti-BDS legislation in the state.

Webmaster's Commentary: 

The only language Israel understands, regarding their treatment of the Palestinians, is economic; this is why, in my opinion, the BDS movement, in the most peaceful way possible, must continue.

Sep 08 11:54

Germany disputes size of Russian wargames, predicts 100,000 troops

Germany said on Thursday that Russia was planning to send more than 100,000 troops to war games on NATO’s eastern flank this month, disputing Moscow’s version that only 13,000 Russian and Belarussian servicemen would participate.

The Sept. 14-20 exercises known as Zapad, or “West” in Belarus, the Baltic Sea, western Russia and the Russian exclave of Kaliningrad, are stirring unease in NATO despite Moscow’s assurances troops would rehearse a purely defensive scenario.

“It is undisputed that we are seeing a demonstration of capabilities and power of the Russians,” German Defence Minister Ursula von der Leyen told reporters at an EU defense ministers’ meeting in Tallinn.

“Anyone who doubts that only has to look at the high numbers of participating forces in the Zapad exercise: more than one hundred thousand,” she said in a joint news conference with her French counterpart Florence Parly.

Webmaster's Commentary: 

Methinks Germany protests too much; and where in the world did she get that number of 100,000?!?

These Zapad exercises have been carried on by the Russians for a number of years; why the big panic now?!?

And BTW, why has NATO seen fit to envelop Russia's borders with NATO troops over the last several years?!?

Sep 08 11:34

Don’t Trust the Red Cross, 10 Ways YOU Can Help!!

Without Enriching Scammers

SALVATION ARMY !

Sep 08 11:29

‘Socialist Echo Chamber’ Pushing Amazon out of Seattle

The silver lining in Seattle's clouds.

Sep 08 10:30

It Begins, Central Bank Shake-Up & The Control Of The Fed

Canadian's are living paycheck to paycheck and if the paycheck was late most would not be able to pay their bills. Toronto real estate is beginning to pop and it looks like we are entering a bear market.

Sep 08 09:04

Amazon was tricked by a fake law firm into removing a hot product, costing this seller $200,000

The owner of Brushes4Less agreed to tell his story to CNBC but asked that we not use his name out of concern for his privacy. As far as he can tell, and based on what CNBC could confirm, Amazon was duped into shutting down the seller's key product days before the site's busiest shopping event ever.

"Just five minutes of detective work would have found this website is a fraud, but Amazon doesn't seem to want to do any of that," the owner said. "This is like the Wild Wild West of intellectual property complaints."

Brushes4Less is just one small business among millions that use Amazon's massive global operation to reach customers. But as the marketplace has grown to account for more than half of all goods sold on the site and as Amazon has expanded its dominance across online commerce, seller complaints have multiplied.

Sep 08 09:02

World's Most Powerful Bank Issues As Major Warning

Goldman Sachs has been at the heart of nearly every major banking scandal in recent history.

The company has settled lawsuits on countless charges, ranging from exchange rate manipulation, stock price manipulation, demanding bribes from their own clients, front-running retail customers, and just about every shady business practice that would put money in their pockets.

Yet throughout it all, Goldman Sachs has been protected from any serious punishment by its friends in highest offices of government.

Four out of the last eight US Treasury Secretaries, including the current one, have formerly been on the payroll of Goldman Sachs.

Three current Federal Reserve Bank presidents are Goldman Sachs alumni.

The current president of the European Central Bank and the current head of the Bank of England are both former Goldman Sachs employees.

You get the idea.

Sep 08 08:35

A staggering swath of newly built South Florida homes lay in Irma's path

Hurricane Andrew became infamous for its destruction of residential property, but Hurricane Irma is poised to overshadow the 1992 storm because there's so much more to destroy.

To say that South Florida has seen a pretty big construction boom in the last two decades is like saying Starbucks has a pretty big following. Even the housing crash didn't stop the cranes from returning with astonishing alacrity.

Looking out over the counties of Miami-Dade, Broward and Palm Beach, cranes are once again the unofficial bird of the region. Some 101 new condominium buildings with 11,860 units are under construction east of I-95, according to Peter Zalewski, founder of Cranespotters, a Florida real estate consulting firm.

"That doesn't include thousands of rental tower units, plus all of the development in the west," Zalewski added.

Sep 08 08:02

Dollar Bloodbath Continues Across Asia, Gold Tops Election-Night Spike Highs

Having plunged by the most in 6 months during the US day session, the dollar is continuing to get pounded across AsiaPac with Hong Kong Dollar and Yuan surging. Gold is extending gains, breaking above the spike highs from election night...

Sep 08 08:02

The Bubble Is Now So Massive Even Wall Street is Getting Nervous

The market bubble has become so massive that even Wall Street is nervous.

To be clear, investment banks do best when stocks are in a bull market. And they love bubbles because it means more M&A, IPOs, dead offerings, stock issuance and other deals from which they derive their revenues.

So for Wall Street CEOs to openly start warning that the market is in a bubble… they have to be really REALLY nervous about what they’re seeing... and know that a stock market crash is coming

On that note this week, not one but TWO major bank CEOs warned about the markets.

Sep 08 07:14

Brick & Mortar Meltdown: Toys R Us Hires Bankruptcy Law Firm

Private equity firms did it again.

Sep 08 06:59

3 Ways to Survive the Next Stock Crash

Sep 08 06:17

Consumer Credit & The American Conundrum

Sep 07 18:25

Toys R Us Hires Bankruptcy Law Firm

Toys R Us, with 1,694 stores globally, has $5.2 billion in long-term debt, according to its latest quarterly report, and sports a negative equity of $1.3 billion. Quarterly sales declined 4.8% year-over-year, to $2.2 billion. This isn’t a one-quarter dip: sales are down 15% from the same quarter in 2012. And the net loss jumped 30% year-over-year to $164 million.

The company needs to restructure its debts, particularly $400 million that is coming due in 2018, and a bankruptcy filing is one of the options, “sources familiar with the situation” told CNBC on Wednesday.

Webmaster's Commentary: 

This is going to result in a lot of economic dominoes falling, if this firm cannot get the funding it needs, and has to resort to bankruptcy.

Sep 07 17:50

Photographer: Simon Dawson/BloombergThree Equifax Managers Sold Stock Before Cyber Hack Revealed

Trio didn’t know about the intrusion when selling, firm says
Shares tumbled in late trading after company disclosed breach
Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.

The trio had not yet been informed of the incident, the company said.

The credit-reporting service said late Thursday in a statement that it discovered the intrusion on July 29. Regulatory filings show that three days later, Chief Financial Officer John Gamble sold shares worth $946,374 and Joseph Loughran, president of U.S. information solutions, exercised options to dispose of stock worth $584,099. Rodolfo Plodder, president of workforce solutions, sold $250,458 of stock on Aug. 2. None of the filings lists the transactions as being part of 10 b5-1 scheduled trading plans.

Webmaster's Commentary: 

IF these men did not know about about the breach, why, precisely, did they unload these stocks at about precisely the same time?!?

And Ms. Gurzmer, a word, please: If you think that the American people are going to believe this tripe, I would refer you to President' Bush's lie about "Saddam Hussein has weapons of mass destruction."

Look at the timing of the transactions; 29 July; and 2 August; there is no way that the breach would not have been the reason for the selling of these shares.

Your cleverly concocted bit of codswallop will be swallowed whole by anyone; Equifax, once highly respected, will now be eschewed, as though all of your employees had instantly become antibiotic-resistant plague-carriers.

Sep 07 16:32

Opioid use is responsible for 20% of the drop in American men in the US labor force, Princeton study says

Princeton University economist Alan Krueger conducted a comprehensive review of data from the past 15 years on prescription rates and the amount of people in the labor force.

He concluded that there had been a shift in prescription rates which affected the amount of men in work.

And this, he said, appeared to be down to a change in medical habits (i.e. drug abuse) as opposed to medical conditions.

Ultimately, his study said the rise in the rate of painkiller prescriptions from 1999 to 2015 accounted for 20 percent of the drop in men in the workforce, and 25 percent of women.

Sep 07 14:44

Consumption Exhaustion

Sep 07 14:19

Disaster Relief: Capitalism And Socialism

In human society, there is no such thing as a purely “natural” disaster. While storms, flooding, landslides and other emergencies are in some sense “acts of nature,” we cannot fully separate the natural event itself from the social context in which it occurs. In the United States, the capitalist system worsens and profits off of disasters, whereas in socialist China, a robust response system based on human need lessens the impact of disasters. This can be seen clearly by comparing relief efforts in the U.S. and China, as well as other socialist countries.

Sep 07 12:37

WELLS FARGO CAUGHT WITH ANOTHER 1.4 MILLION FAKE ACCOUNTS,

WILL ANYONE EVER GET JAILED?

Sep 07 11:43

The Next Subprime Loan Crisis

The self-described “Geniuses of Wall Street” are being stupid. Again.

In 2007, their stupid schemes and frauds crashed our economy, destroying middle-class jobs, wealth, and opportunities. Far from being punished, however, the scofflaws were bailed out by their Washington enablers — so the moral lesson they learned was clear: Stupid pays! Go Stupid!

Sep 07 09:57

Pfizer cancels €400m plant expansion in Dublin

Pfizer has cancelled a planned €400 million expansion of its plant at Grange Castle in Clondalkin, Dublin.

The company, which manufactures medicines in Ireland for global distribution, sought planning permission earlier this year for a major extension to the plant.

Sep 07 09:27

John Rubino – Have the Black Swans Arrived?

Sep 07 09:01

Mutiny "For" The Bounty?

What we do know: the U.S. is broke and very likely nearly out of gold. The U.S. has “led” the world with an iron fist and trampled many in its wake …pissing off nations all the while over the last 20+ years in particular. China knows this and also knows the rest of the world will follow them just as school kids will follow the one who stands up to the school bully. Besides, on the surface it certainly looks like better (more fair) trade and settlement terms for anyone who goes along.

Sep 07 08:58

Hurricane Irma Could Destroy Oil Demand

Sep 07 08:38

ESCOBAR EXPOSES REAL BRICS BOMBSHELL: PUTIN'S "FAIR MULTIPOLAR WORLD" WHERE OIL TRADE BYPASSES THE DOLLAR

MEET THE OIL/YUAN/GOLD TRIAD

It’s when President Putin starts talking that the BRICS reveal their true bombshell. Geopolitically and geo-economically, Putin’s emphasis is on a “fair multipolar world”, and “against protectionism and new barriers in global trade.” The message is straight to the point.

The Syria game-changer – where Beijing silently but firmly supported Moscow – had to be evoked; “It was largely thanks to the efforts of Russia and other concerned countries that conditions have been created to improve the situation in Syria.”

On the Korean peninsula, it’s clear how RC think in unison; “The situation is balancing on the brink of a large-scale conflict.”

Putin’s judgment is as scathing as the – RC-proposed – possible solution is sound; “Putting pressure on Pyongyang to stop its nuclear missile program is misguided and futile. The region’s problems should only be settled through a direct dialogue of all the parties concerned without any preconditions.”

Webmaster's Commentary: 

The Deep State in the Unhinged, Surveilled, States of Amerika, will certainly do every thing in its power, including waging war, rather than allow this to happen; this is why we are seeing such an acceleration of demonisation, on steroids, against both Russia and China, courtesy of the corporate presstitutes and whorespondents.

Sep 07 07:55

Is the High Cost of Housing Crushing Wages?

Sep 07 07:29

Trump shuns Republican leaders to cut debt deal with Schumer, Pelosi

President Trump and Democratic leaders on Wednesday did what Washington does best: striking a bipartisan deal to boost borrowing and spending, keeping the government running into the next fiscal year and speeding disaster relief to Texas and Florida.

Sep 06 18:24

Deutsche Bank plans to automate a 'big number' of jobs because its workers are already 'behaving like robots'

Deutsche Bank - one of the world's largest financial institutions - is gearing up to replace a large chunk of its workforce with robots.

CEO John Cryan warned today that a 'big number' of people will lose their jobs at the firm as it automates to embrace its 'revolutionary spirit.'

The Frankfurt, Germany-based company employs 100,000 people globally, but it's unknown how many will be laid off and replaced by machines or when the overhaul will occur.

Sep 06 16:52

State officials: Expect Obamacare premium hikes, market ‘collapse’

State officials sounded the alarm Wednesday on Capitol Hill about skyrocketing ObamaCare premiums as insurers across the country propose double-digit rate hikes – renewing pressure on Congress to act.

Sep 06 16:23

Trump sides with Democrats on debt ceiling, budget over GOP objections

Congress must pass a budget by Sept. 30 or the government will run out of money. The debt limit needs to be increased this month. Republican Senate leaders had considered combining the debt limit with emergency aid to help the Hurricane Harvey relief efforts, but were vague about the length of the debt limit extension. Democrats, though, pushed for a three-month extension for both the debt limit and the budget. They felt that would give them time to build constituencies for pet projects, notably immigration and spending.

Sep 06 15:59

Gold- Testing critical breakout level, again!

Sep 06 15:58

The Donald’s Seinfeld Tax Plan – A Big Show About Nothing

Trump said the tax reform package will be introduced on “Wednesday or shortly thereafter,” just before his 100th day in office. While the president would not reveal details about the tax plan, he did say that the cuts will be “bigger I believe than any tax cut ever.” -- Well, we’ve passed the eighteenth Wednesday since that promise. What was actually delivered back then, of course, was a one-page statement of vague principles, fond aspirations and apple pie.

Sep 06 15:51

When Right Is Wrong

As much as I have to remind people (and be a bit harsh) : Foreign aid is simply the looting of American taxpayers. The government has no right to take money from Americans against their will and give it to foreigners or their governments—regardless of the need, crisis, or circumstances, and regardless of where the money goes, how much is spent, what the terms are, or what the supposed benefits are.

Sep 06 12:35

USD Crashing: Justice at Last

Sep 06 12:16

BRICS Prepare For The Death Of The Dollar By Widening Membership

Leaked BREXIT document shows the UK establishing new rules on immigration. We are now seeing signs that gold is getting ready to break out. Lego is now laying off 1500 people.

Sep 06 11:51

The Benefits of Living Abroad in Retirement

Sep 06 11:06

Harvey Refining Update

Sep 06 09:49

The Rising Tone of Private Equity v Public

Sep 06 09:22

Kentucky Public Employee Retirements Surge As Fears Of Pension Collapse Mount

Slowly but surely it is becoming increasingly clear to public workers in states with massively underfunded pensions that they've been lied to for the past several decades as their states can't possibly afford to pay for the retirement they've all been promised. As a local radio station in Bowling Green points out today, fears over potential pension changes in Kentucky have resulted in a surge of early retirements as workers move to lock in payouts before any potential cuts go into effect.

Sep 06 09:18

Engineers 20 years ago warned of Houston flooding risk

County reservoir system predicted with alarming accuracy the catastrophic flooding

Sep 06 08:58

Hawaii Considers A "Universal Basic Income" As Robots Seen Stealing Jobs, There's Just One Catch...

Forget social security, medicaid and WIC, today's progressives have moved well beyond discussing such entitlement relics of the past and nowadays dedicate their efforts to the concept of a "Universal Basic Income" for all...call it the New 'New Deal'. You know, because having to work for that "car in every garage and chicken in every pot" is just considered cruel and unusual punishment by today's standards.

Of course, it should come as little surprise that the progressive state of Hawaii, which depends on easily automatable jobs tied to the tourism industry, is among the first to pursue a Universal Basic Income for its residents. And while the idea of passing out free money to everyone seems like a genius plan, if we understand it correctly, as CBS points out, there is just one catch...figuring out who will pay for it.

Sep 06 08:57

It Was Going to Be a Great Year for Texas Farmers — Then Harvey Hit

This was shaping up to be a record year for cotton farmers in Texas.

In 2016, farmers were lucky to harvest one bale of cotton per acre of the profitable crop. A year later, with perfect weather conditions during harvesting season, farmers would get three bales, maybe even four, per acre — the most in more than a decade.

Sep 06 08:49

New Member of The BRICS Alliance

Egypt is the latest member to be added to the BRICS Alliance.

Sep 06 08:37

Opinion: Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end

So you’ve made a ton of money from bitcoin, Ether and other cryptocurrencies. Sure, they’ve defied the doomsayers time and again. Which likely makes this week’s shocking plunge in bitcoin and Ether just another buying opportunity. That’s where you may be wrong.

The sudden Chinese crackdown on bitcoin BTCUSD, +4.36% that caused the plunge is either the end of the beginning for the crypto-party — or, more likely, the beginning of the end. If you’re holding cryptocurrencies today, remember that no matter how much money you think you’ve made, you haven’t made a nickel until you’ve cashed it out.

And you might want to think twice, or even thrice, about the rising risks.

China took steps on Monday to stop “initial coin offerings” or ICOs. These are the crypto-bubble equivalent of the infamous IPOs during the late 1990s dot-com mania.

Sep 06 08:31

The real BRICS bombshell: Putin reveals ‘fair multipolar world’ concept in which oil contracts could bypass the US dollar and be traded with oil, yuan and gold

The annual BRICS summit in Xiamen – where President Xi Jinping was once mayor – could not intervene in a more incandescent geopolitical context.

Once again, it’s essential to keep in mind that the current core of BRICS is “RC”; the Russia-China strategic partnership. So in the Korean peninsula chessboard, RC context – with both nations sharing borders with the DPRK – is primordial.

Beijing has imposed a definitive veto on war – of which the Pentagon is very much aware.

Pyongyang’s sixth nuclear test, although planned way in advance, happened only three days after two nuclear-capable US B-1B strategic bombers conducted their own “test” alongside four F-35Bs and a few Japanese F-15s.

Everyone familiar with the Korean peninsula chessboard knew there would be a DPRK response to these barely disguised “decapitation” tests.

Sep 06 08:19

The Vanishing American Dream

Sep 06 08:04

WELLS FARGO CAUGHT WITH ANOTHER 1.4 MILLION FAKE ACCOUNTS, WILL ANYONE EVER GET JAILED?

As the tally of fake Wells Fargo accounts balloons to 3.5 million, Congress has yet to discipline the executives, while the financial giant has only paid fines. A coalition of 33 groups is now demanding new hearings and for the bank to be held accountable.

Wells Fargo and Company increased its estimate of how many accounts were created by 67 percent Thursday. The mega bank issued shocking new disclosures, showing 1.4 million more bogus customer accounts had been created, a significant increase from previous estimates, the New York Times reported.

In addition, Wells Fargo admitted to yet another impropriety, stating that they enrolled more than a half-million customer accounts into their online bill pay service without notifying them. The embattled bank has since agreed to pay out $910,000 to customers who accrued fees or charges related to the unknown accounts.

Webmaster's Commentary: 

Nothing will happen here; the rich rarely eat their own.

Sep 06 08:01

TOP EU COURT THREATENS POLAND, HUNGARY, CZECH REPUBLIC WITH FINES IF THEY REFUSE REFUGEES

Concluding a months-long saga in which central and eastern European nations revolted against Brussels' refugee policies, on Wednesday the European Union’s highest court ruled that EU states must take in a share of refugees who reach Europe, dismissing complaints by Slovakia and Hungary and reigniting an angry row between east and west. The Court upheld the EU’s right to order national governments to take in their "fair share" of asylum seekers, arguing that "the mechanism actually contributes to enabling Greece and Italy to deal with the impact of the 2015 migration crisis and is proportionate."

Webmaster's Commentary: 

Did you hear that dull, agonising thud from across the pond?!?

THAT... was the EU, dismembering itself over the issue of refugee immigration.

Sep 06 07:59

Ron Paul Defends Price Gouging ('Free Market Pricing') In Wake Of Hurricane Harvey

Before you cringe, Dr. Paul explains 'price gouging,' which he explains is really 'free-market pricing,' as only he can. "Price gouging is just a nasty word for the market adjusting the price for tbe demand for that good," Dr. Paul begins. He goes on to give many real life examples of how 'price gouging' would incintivize suppliers to provide disaster victims with what they need in time of crisis, when government can not. I am not sure that any other person on earth besides the erudite Dr. Paul could make such a shockingly persuasive argument for what is an initially offensive-sounding premise.

Sep 06 04:26

Trump to Sell South Korea Billions of Dollars in Weapons

TRUMPS intention to loosen restrictions on South Korea's maximum payload for missiles , appears to be written around the idea that it would lead to more US arms sales .
TRUMP is already bragging it's worth many billions of dollars >>> http://gulfnews.com/news/asia/south-korea/trump-says-us-will-sell-bill...

Sep 05 18:51

Why the “Universal Basic Income” is actually Universal Basic WELFARE for the enslaved masses

The latest insane idea from the political Left is called “Universal Basic Income.” It’s based on the idea that governments should pay everyone a basic “wage” for doing nothing, and it’s justified by concern over robots replacing workers in the years ahead.

But “income” is something you earn, by definition. So you can’t call it “income” if nobody is earning it. The correct term for this is Universal Basic WELFARE. It’s just a grand entitlement handout by governments to keep the sheeple in line while their liberties and dignity are stripped away by a totalitarian state.

The whole point of such a system is to enslave and control the masses by eliminating individual success and turning everyone into a “financial zombie” who’s dependent on the State for their survival.

Sep 05 15:50

ECB Tightens Noose Around Bank Accounts

The European Central Bank (ECB), arguably the European Union’s most powerful and least accountable institution, apparently needs more power, according to Daniele Nouy, the ECB’s top supervisor. Chief among the fresh powers it seeks is the power to temporarily prevent people from withdrawing their money from their accounts at banks that are in distress, including by electronic fund transfers.

Sep 05 14:10

Harvey and “Carmageddon”: GM, Toyota, Subaru Kick Butt. FCA, Nissan, Hyundai Get Crushed

It gets complicated. But there’s a curious tidbit about prices.

Sep 05 13:07

Petrodollars Vs "Reserve Currency"

Sep 05 11:23

Harvey Package Grows; Likely To Include Debt Ceiling Hike

Trumps initial request for a multibillion down payment for initial Harvey recovery efforts is growing . Republican leaders are already making plans to use the aid package , certain to be overwhelmingly popular, to win a contentious increase in the federal borrowing limit .

>>>

Sep 05 11:16

Cashless Society: China’s KFC Introduces Facial Recognition Payment System

By Nicholas West

Step by step, facial recognition has been accepted by the general public for security; its appearance is proliferating at airports and at train stations around the world. With that acclimatization in full swing, facial recognition is also becoming a preference in the name of convenience as it is being adopted for conference check-ins and other events. Logically, the next incarnation purports security and convenience in the form of biometric payments using facial recognition.

Reuters reports that an upscale version of KFC, known locally as KPRO, is a testing ground...

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