ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 13 07:29

After 40yr oil export ban, US looks to top global market – report

The US may transform into one of the world’s top oil exporters in only a few short years due to its production increase of shale oil, an energy consulting group says.

The consultancy PIRA energy group has released a new forecast relating to the current boom of US shale oil production. The group has estimated that by 2020, US crude exports will rise to 2.25 million barrels a day. This means the production would grow to four times the amount of what was produced last year. The recent uptick of crude production in the US looks to weaken the strength of OPEC exporting countries, according to CNN Money.

This boom would put the US almost on the same level as giant oil exporters such as Kuwait and the United Arab Emirates. Jenna Delaney, an analyst at PIRA, said that “in the years ahead, these developments position the US to potentially be one of the largest exporters of crude oil in the world,” CNN reported.

Jul 13 06:09

Our Financial Buffers Are Thinning

The fragility of our financial buffers will only be revealed when they fail in the next crisis.

Jul 13 05:27

US to Spend $406 Billion on F-35 Jet Program

The Most Expensive Weapons Program Is Getting More Costly

The cost of the F-35 jet program , already the most expensive weapons program ever is estimated to climb to US$406.5 billion , dispite Trump's assurances to fix "out of control" expenditures

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Jul 13 05:13

Unwinding QE will be “More Disruptive than People Think”: JP Morgan CEO Dimon

“We act like we know exactly how it’s going to happen, and we don’t.”

Jul 12 17:56

Slower US F-35A purchases piles $27bn onto total fighter jet bill

The UK is buying 138 F-35s in total, the majority of which will be F-35Bs. Nobody can be sure about this, however, because the Ministry of Defence hasn’t ruled out an F-35A purchase as well. Early production F-35Bs cost around $122m each, according to Lockheed Martin’s own estimates. With F-35As coming in at $94.6m each, that price is now in the region of $101.2m per jet.

As we reported in May, the MoD has signed contracts to buy a total of 27 F-35Bs until the year 2023, which is when Lockheed Martin, maker of the F-35, appears to be going into full scale production. This appears to be a decision made in the hope of taking advantage of economies of scale once the design is frozen and mass production kicks in. With the US scaling back, however, and causing its own prices to rise, there is little doubt foreign customers will also be hit with price rises in turn – including the UK.

Jul 12 16:56

Is This The Generation That Is Going To Financially Destroy America?

Did you know that the federal government is going to spend more than 4 trillion dollars this year?  To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.

Jul 12 13:56

Bubbles, Bubbles, Toil And Trouble

Jul 12 12:11

Why bitcoin and other cryptocurrencies could plunge 75% -- and still be in a bull market

It’s been a tough stretch for bitcoin investors. After toppling the $3,000 level last month, bitcoin has shed more than $600. For crypto rival ethereum, it’s been even uglier. The sudden reversal in the market has sparked yet another wave of doom and gloom regarding the future of cryptocurrencies.

But while those late to the party have, indeed, been slammed the past couple of weeks, long-term crypto holders don’t have much to complain about.

According to buy-side analyst Chris Burniske, bitcoin BTCUSD, +2.84% and the rest of crypto market could plunge 75% from these levels and still be in a bull market. That’s because such a decline would only bring the total market down to $15 billion in aggregate value.

Jul 12 12:10

Congress Wants Union Pension Bailout, but Can't Afford Promises

Many workers have been promised far more in pensions than their employers — public or private — can afford to pay them. Puerto Rico, for example, will soon have to start tapping general revenues for some $750 million annually just to cover its pension IOUs.

Stateside, a similar day of reckoning fast approaches the United Mine Workers of America. Unfortunately, as the UMWA’s pension fund nears insolvency, some lawmakers want to bail it out.

That would set a dangerous precedent. Rewarding the irresponsible and reckless actions of UMWA officials and pension managers would encourage other plans to follow in their footsteps.

Jul 12 11:00

On Borrowed Time

There are a number of things you don’t want to hear a central banker say.

One of those things just popped out of Janet Yellen’s mouth – “I don’t believe we will see another financial crisis in our lifetime.” That has to be up there with Irving Fisher’s deathless observation from 17 October 1929 that "Stock prices have reached what looks like a permanently high plateau" or John Maynard Keynes’ comparably adept forecast from 1927 that "We will not have any more crashes in our time."

So far, so anecdotal. How about some data to back up the thesis that, as Thorstein Polleit puts it, the super bubble is in trouble ?

Jul 12 10:57

Russia Plans to Create a Joint Investment Forum with the Bank of China

Russian President Vladimir Putin held talks with visiting Chinese President Xi Jinping in the Kremlin on Tuesday during which the two leaders held wide-ranging talks on a host of issues including bilateral ties and international hotspots like Syria and North Korea.

“We invariably have economic matters at the top of our agenda, but they are not the only issues we address. We also coordinate our efforts on the international stage, in the area of security and in the fight against modern threats and challenges,” Putin said.

Putin also announced Russian plans to create a joint investment forum with the Bank of China at a joint press conference following talks with the Chinese President.

The Russian Direct Investment Fund and the China Development Bank (CDB) also agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion).

Jul 12 09:09

Meanwhile In Venezuela, The Real Mad Max Emerges

While Silicon Valley seems obsessed by 'blood boys', its another part of the world that appears to have gone full Mad Max. As the following clip shows a gang of bikers chase down and attack a truck (with molotov cocktails) to steal its sugar payload...

Jul 12 09:08

Connecticut Capital Hartford Downgraded To Junk By S&P

One week ago, Illinois passed its three year-overdue budget in hopes of avoiding a downgrade to junk status, however in an unexpected twist, Moody's said that it may still downgrade the near-insolvent state, regardless of the so-called budget "deal." In fact, a downgrade of Illinois may come at any moment, making it the first U.S. state whose bond ratings tip into junk, although as of yesterday, credit rating agencies said they were still reviewing the state's newly enacted budget and tax package. The most likely outcome is, unfortunately for Illinois, adverse: "I think Moody's has been pretty clear that they view the state's political dysfunction combined with continued unaddressed long-term liabilities, and unfavorable baseline revenue performance as casting some degree of skepticism on the state's ability to manage out of the very fragile financial situation they are in," said John Humphrey, co-head of credit research at Gurtin Municipal Bond Management.

Jul 12 09:08

Golden Years... Or Tears: More US Seniors Are Still Working Than At Any Time Since The '60s

Long walks on the beach, holding hands in a hottub overlooking the ocean, working on your golf game...in Hawaii, treating the kids and grandkids to treats and trips - we have all seen the commercials of how great 'retirement' can be (or could have been), if you just put a little more money into the stock market via your friendly local asset gatherer.

Jul 12 08:16

THE MEDIA SAYS THE US JUST LIBERATED MOSUL: HERE’S WHAT REALLY HAPPENED

“In June 2014, ISIS crossed the Syrian border into Iraq, effortlessly taking the strategic oil-rich cities of Mosul and Baiji and almost making it as far as Baghdad. Amid the terror group’s frightening victory, they uploaded images and footage of drive-by-shootings, large-scale death marches, and mass graves (following the mass executions of Iraqi soldiers).

“ISIS militants claimed massive quantities of American military equipment, including entire truckloads of humvees, helicopters, tanks, and artillery as their own. This was no secret to Washington, or even the world, as the militants photographed and recorded themselves and publicly flaunted their activity on social media.”

Was there a good reason the American military sat on its hands despite knowing full well that this was going on? As Anti-Media explained further:

Jul 12 08:11

CONNECTICUT CAPITAL HARTFORD DOWNGRADED TO JUNK BY S&P

And yet, while Illinois squirms in the agony of the unknown, another municipality that as recently as a month ago was rumored to be looking at a bankruptcy filing, the state capital of Connecticut, Hartford, no longer has to dread the unknown: on Tuesday afternoon, S&P pulled off the band-aid, and downgraded the city's bond rating by two notches to BB from BBB-, also known as junk, citing "growing liquidity pressures" and "weaker market access prospects", while keeping the city's General Obligation bonds on Creditwatch negative meaning more downgrades are likely imminent.

Jul 12 08:04

Investors Are Dumping Emerging Market Debt At A Record Pace

Having warned that Emerging Market debt risks had hit 10-year lows (despite soaring uncertainty) and EM equity risk had hit record lows (amid record inflows), it seems the lagged impact of the collapse in the China credit impulse is finally being recognized as the largest EM Debt ETF (from JPMorgan) just suffered its largest outflows in history...

Jul 12 08:04

The City of Seattle Approved an Income Tax, but Faces Court Battle

Seattle has done one thing effectively: drive out earners. Anyone making over $250,000 within city limits of Seattle is now subject to a new income tax, but the new law is likely to face a court battle over its unconstitutionality.

The cheers from the socialists as this blatant constitutional violation was on full display was possibly the most horrific part of the entire debacle. People are actually cheering and happy that the government is stealing money from those they don’t even know. It’s like humanity has never existed.

Jul 12 08:04

For Google, the Pixels Just Hit the Fan

Distinguished research psychologist Robert Epstein explains why Google was recently fined $2.7 billion for one of its search-engine manipulations. This is just the beginning, he says, of bad news for a company that tracks and manipulates people on a massive scale.

Jul 12 07:03

Cryptocurrencies Collapsed - Ethereum down 52%, Ripple down 57%, EON down 70% in eight days.

A “collapse” isn’t when something edges down 1% in value or even 10% or 20%; it’s when something plunges 50% in a short time.

Jul 11 17:30

Connecticut Just Banned Civil Forfeiture Without A Criminal Conviction

Connecticut Gov. Dannel Malloy signed HB 7146 on Monday, which curbs the state’s civil forfeiture laws. Not only did the bill earn endorsements from the Yankee Institute for the Public Policy and the state chapter of the ACLU, HB 7146 even passed both the House and the Senate without a single no vote.

Jul 11 15:48

John Rubino – Where Are We Heading?

Jul 11 15:35

Number Of New York City Street Homeless Grew By Nearly 40 Percent In One Year

The number of homeless people living on the streets in New York City increased dramatically over the past year, according to figures supplied by the Department of Homeless Services. The annual count conducted by the agency on a single night in February 2017 showed 3,892 unsheltered people living “in the rough,” up nearly 40 percent from the 2,794 counted the previous February.

Jul 11 15:26

How Retiring Baby Boomers Could Sink Stocks

In 2016, the first group of baby boomers turned 70 years old. Millions more will do the same over the next 15 years, and as a result, selling activity in their retirement portfolios could be a big problem for markets.

Jul 11 15:22

FLASHBACK - NANCY PELOSI SAYS LETTING PEOPLE KEEP MONEY THEY EARN IS STEALING

If you ever had any doubt that democrats consider your money theirs, Nancy Pelosi just erased that. According to her, if you are “allowed” to keep the money you earn, that’s really stealing from poor people who didn’t earn it. I know this is some dizzying liberal logic, but that’s how they like things. Their hope is to make things so confusing that you can’t tell how bullshit it all is.

Jul 11 15:19

Mutual-fund giant DUMPS Hundreds of Workers

Jul 11 15:07

Wind Power Disaster in Australia Leads to Impending Economic Crisis

With laws mandated by elected officials but not supported by the populace of Australia for the wind power program which has seen 15% rises in kwH pricing over the last 12 months, what happens when food prices rise 30-50% over the next 12 months?

Jul 11 13:36

Class Action Lawsuits Against Banks & Credit Card Companies Now Easier To Join

Banks and credit card issuers will no longer be allowed to use private arbitration clauses to prevent class action lawsuits, thanks to a new rule set forth by the CFPB. The new rules have been two years in the making.

Jul 11 12:58

Denver To Get Its First Tiny House Village For The Homeless

This month, fourteen Denver residents will be moving into their newly-built tiny homes as members of the Beloved Community Village. They will move into their new houses after approximately four years of hard work, from advocates for the homeless population of Denver. The Beloved Community Village consists of 11 tiny homes, with each two-person unit measuring just 8-foot-by-12-foot. Also on site is a community space, shared shower facilities, and shared restrooms.

Jul 11 12:38

The Modern US Dollar — 38 incredible facts.

Just Remember, Nothing Last Forever…

Jul 11 12:09

Advice firm promoting Ukrainian property fund goes bust

Cumulus Investment Management, a UK investment firm which has previously come under fire for advising clients to invest in a high-risk Ukrainian property scheme, has officially been dissolved.

Jul 11 11:59

‘Hidden Crisis’: Extent Of Homelessness In UK Countryside ‘Underestimated’

People are sleeping rough in parked cars and barns in the countryside because the stigma attached to homelessness in rural areas is “much stronger” than in cities, a new report says.

According to a study by the Institute for Public Policy Research (IPPR) think tank, the “hidden crisis” of homeless people in England’s countryside is being “underestimated” as people bed down away from the public eye in places like parked cars, barns, outhouses and tents.

Jul 11 11:54

Diminishing Birth Rates – Why Is the First Political Solution Race Replacement?

One of the greatest political oddities is that across European nations, the first and last solution to diminishing birth rates is to decide that the next generation of Europeans should be a completely different race. There is a certain shortsightedness in this idea that is not only morally questionable, but also economically stupid.

Jul 11 11:53

US Deploys Advanced Anti-Aircraft Missiles in Baltics for First Time

Lithuania’s Defense Ministry has made a surprise announcement today that the United States has deployed an unspecified number of Patriot missile batteries into Lithuania, nominally for a military drill that is ongoing for the next two weeks.

This marks the first time such advanced US anti-aircraft weapons have been deployed into one of the Baltic states, and the deployment is expected to last beyond the current exercise, with Lithuanian officials saying it proves the US military commitment to them.

Lithuanian officials have the impression the missiles would be there at least through Russia’s own military exercises in the region in September, which are expected to be held near the NATO border regions, and which Lithuanian officials have been hyping as a “threat.”

Webmaster's Commentary: 

WHAT Russian threat is there to Lithuania, or Poland, please?!?

In a word, non-existent.

However, what we are seeing is a string of NATO detachments, encircling Russia; toward what final end, perhaps, a NATO war against Russia?!?

Jul 11 11:47

Stay away from bitcoin and ethereum — they are complete garbage - MarketWatch

Cryptocurrencies, or cybercurrencies, which were in a massive financial mania until their sudden selloff that started last month, have two actual applications: online gambling and money laundering. Neither is the heart of a major business model. But that’s it.

And these, preposterously, are the fundamentals behind a mania that has driven these currencies up thirtyfold, so that today, in aggregate, the market for them is a staggering $82 billion.

None of the defenders’ other arguments stack up.

Online currencies are hardly a “store of value” when they can fall, say, about 30% in a week.

Jul 11 11:07

World Stocks Rally, Dollar Up To Two-Month High Against Yen

Stock markets rallied on Monday and the U.S. dollar hit a two-month high against the yen, as robust economic data from the United States and Germany left investors increasingly confident about the strength of the world economy.

Jul 11 10:38

Italy warns Germany and France fixated EU ‘ignore us at your peril’

Bruno Maçães, who was Portugal’s EU minister between July 2013 and November 2015 told the Express.co.uk that Italians were increasingly drawing the link between the country’s economic woes and its EU membership.

Mr Maçães said: ‘The big problem is that Italy has not grown since the start of the euro, its been basically stagnant for 16 or 17 years.

“This is not sustainable, and of course more and more people are making the connection and asking, publicly, whether the euro is to blame for Italian stagnation.

Jul 11 10:37

Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion

The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector.

Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 billion euros into Banca Monte dei Paschi di Siena (BMPS) in exchange for the lender undertaking a major restructuring overhaul.

Jul 11 10:18

Nevada marijuana supply running low, state of emergency declared, governor says

I never thought I would live to see the day a Governor declares an emergency over lack of weed. They must have elected one of the Freak Brothers as governor. I like this guy!

Nevada state officials declared a state of emergency after stores that sell recreational marijuana reported that their supply is running out just less than two weeks after the drug went on sale legally.

Gov. Brian Sandoval, R-Nev., issued the state of emergency on Friday, which will allow state officials to decide on new rules that could ease the shortage of marijuana, according to Fox 13 Now.

Jul 11 10:17

Currency Bubble = Dollar In Big Trouble

Jul 11 10:04

The Sad Death of American Towns through Globalisation – Or – Never Trust Walmart

When major employers come to a town, replace the local businesses, suck up the people they have made unemployed and then leave a few years later, there is very little hope of recovery. It is destroying towns and families. And what’s worse, it makes the victims complicit in their own demise.

Jul 11 10:04

Germany Pensions System Crisis

The German publication DWN has come out and warned that the German Pensions system is collapsing.

Jul 11 09:08

Stock Market Tsunami Siren Goes Off

It will be ignored until it’s too late.

Jul 11 09:04

NUMBER OF YOUNG MEN NOT WORKING HAS DOUBLED IN 15 YEARS

Young men are working less and playing video games more, according to a National Bureau of Economic Research study published Monday.
Men ages 21 to 30 years old worked 12 percent fewer hours in 2015 than they did in 2000, the economists found. Around 15 percent of young men worked zero weeks in 2015, a rate nearly double that of 2000.

Jul 11 08:49

Death Of The Middle Class: The Suburbs Have Absorbed Half Of America’s Poverty Growth

For decades suburbia was home to the highest concentration of wealth in America, and perhaps even the entire world. It was the seat of our nation’s thriving middle class and a beacon of economic mobility. The streets were clean and safe, the schools were highly regarded, and there were plenty of middle class jobs to be had.

But something has changed in suburbia. While offshoring and automation have destroyed millions of jobs across the country, the decimation of brick and mortar stores by online retailers has pounded the wealth base of suburbia. So much so, that there are more people living in poverty in suburbia than any other place in America.

Jul 11 08:45

Obamacare Death Spiral: At Least 2 Million Adults Ditch Coverage In 2017 Amid Soaring Premiums

As Democrats continue to defend an obviously failed Obamacare system, the effects of soaring rates and collapsing coverage options seem to be taking a toll on the number of people actually buying health insurance these days. According to the "Gallup-Sharecare Well-Being Index," the percentage of uninsured adults in the U.S. bottomed out at 10.9% in Q4 2016 but has since increased to 11.7% in just the first two quarters of 2017.

Jul 11 08:00

India Removes 220 Tons of Physical Gold

We recently reported how the people of India has swallowed a massive 1,473 tons of silver in the month of May 2017. Not only was this one of the largest months for Indian silver imports it was more ounces of silver than the U.S. Mint had sold Silver Eagles in the whole of 2015. 2015 set the new all time high for American Silver Eagle sales and it took the U.S. Mint all year to do what India did in one month! Impressive to say the least.

Now we learn that India also imported a massive volume of gold during the month of May 2017, more than double any other month in the last 12 months.

Jul 10 18:36

IMF wants Germans to retire later, save less & spend more

The International Monetary Fund has urged German authorities to raise the effective retirement age above 67, saying an aging population could work longer and hence save less and spend more.

Jul 10 16:41

Working Past 70: Americans Can’t Seem to Retire

More and more Americans are spending their golden years on the job.

And the trend looks likely to continue.

Jul 10 15:54

Craigslist Used in Deadly Ploy to Lure Victims in Ohio

More bodies may still be found, as the bogus advertisement, which was picked up by online job aggregators, drew more than 100 responses from Ohio and other states.

Continue reading the main story
In Ohio, hit hard by the recession, the abundance of eager applicants pulled in by the advertisement has surprised no one, stirring talk about the lengths that people will go these days to find employment. “People here are desperate for work,” said a clerk at a motel in Akron, whose employer did not want him to give his name.

The police have suggested robbery as a motive, but other theories have also circulated, including identity theft and, perhaps more chilling, simply a desire to kill. The perpetrators appeared to be looking for loners who would not be missed.

Jul 10 15:53

Think twice before answering that ad: 101 murders have been linked to Craigslist

Nine days ago, a disturbing missive appeared on the Craigslist page for Tulsa, Okla.

“I was wanting to thank Tulsa for letting me have my first kill,” the post begins. “It will not be my last thou (sic).”

The post has since disappeared from Craigslist, but not from the radars of concerned Oklahomans. A spokeswoman for the Tulsa Police Department said an investigation is ongoing. The homicide squad has found no open cases matching the murder described in the post, at least not within the past few months; they haven’t ruled out the possibility that the post is a prank or a hoax.

Jul 10 15:24

Sam's Club and Sears, warn of more layoffs

Jul 10 15:21

America's Royalty: The Welfare Kings And Queens. Try not to get angry...

"A quick look into the status of welfare benefits, the recipients, and those who abuse the system. It needs to be fixed."

Jul 10 15:19

Pricey jean manufacturers going bankrupt

Jul 10 15:05

These Days Young Men In America Are Working A Lot Less And Playing Video Games A Lot More

If you could stay home and play video games all day, would you do it?  According to a brand new report that was released by the National Bureau of Economic Research on Monday, American men from the ages of 21 to 30 are working a lot less these days. 

Jul 10 13:53

NEW BILL WOULD REQUIRE PEOPLE TO DISCLOSE CRYPTOCURRENCY HOLDINGS AT THE BORDER

A new bill introduced in late May in the United States Senate would require people entering or leaving the United States with $10,000 or more in cryptocurrency to declare their holdings to US Customs and Border Protection agents. The bill has been introduced in the 115th Congress as S.1241, and known as the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017. Currently this regulation is already applied to cash and money orders. The bill’s prime sponsor is Republican Senator Chuck Grassley of Iowa. The bill has some bipartisan support, co-sponsors of the bill include Democratic Senator Dianne Feinstein of California, Democratic Senator Sheldon Whitehouse of Rhode Island, and Republican John Cornyn of Texas.

Jul 10 13:52

WORLD’S 2ND LARGEST SILVER MINE SHUT DOWN: Implications For Company & Market

The world’s second largest primary silver mine, Tahoe Resources Escobal Mine, was forced to shut down operations in Guatemala by a ruling from the country’s Supreme Court. 

Jul 10 13:19

Ned Schmidt – End of the Tech Fantasy?

Jul 10 12:06

Illinois Approves First Budget In 2yrs As ‘Junk’ Credit Status Looms

Lawmakers approved the first full-year budget in Illinois since 2015, after overriding the governor’s veto of the spending plan. The move, however, might not be enough to save the state from becoming the first in the US with a “junk” credit rating tag.

Jul 10 11:57

China Creates Pacific Shipping Giant With Cosco's Orient Takeover

The Baltic Dry Index has retraced most of its 55% surge from March, yet the mild recovery in shipping fees since early last year appears to have revived appetite for a renewed wave of consolidation in the shipping space. For a price of $6.3 billion (HK$78.67 a share) - equivalent to an eye-popping premium of 112% of the stock’s one-year trading average - Cosco Shipping's purchase of Hong Kong-based Orient Overseas makes the Chinese state-owned firm the world’s third-largest bulk shipping company, and the largest servicing the lucrative Asia to North America route, beating out Copenhagen-based A.P. Moller-Maersk and France’s CMA CGM.

Jul 10 11:53

Foxconn Considering Bringing 10,000 Jobs To Southeastern Wisconsin, Assembly Speaker Says

Foxconn Technology Group is considering bringing 10,000 jobs to southeastern Wisconsin, leaders of the state Assembly said Wednesday.

With their passing reference to the proposed project in a memo, the leaders became the first high-ranking state officials to acknowledge the Taiwanese company is considering a massive presence here.

Jul 10 11:11

Janet Yellen: False Prophet of Prosperity

Jul 10 10:09

Pentagon Gives Lockheed Billions to Keep Working on F-35s

The Defense Department has awarded Lockheed Martin Corp. a $4.49 billion undefinitized contract action to continue production on the latest batch of F-35 Joint Strike Fighters even as it continues to negotiate a firm price for the fifth-generation jets.

The UCA — a type of contract in which bottom-line terms or prices have not been agreed upon before performance is begun — stipulates a max price of $5.6 billion for Lockheed to continue working on the Low Rate Initial Production, or LRIP, lot 11 jets, according to the F-35 Joint Program Office.

Lockheed is “expending money to keep the production line going,” JPO spokesman Joe DellaVedova told Military.com via telephone on Friday. So “we want to pay them for the work they they’re doing [to] obligate funds for the Lot 11 aircraft.”

The prices for individual jets are still being determined, according to the office.

Jul 10 09:38

Australian government to track $100 notes with nano-chips as cashless society looms

The Australian government plans to crack down on the ‘black economy’ by implanting $100 and $50 notes with hi-tech nano-chips so they can be surveilled.

No this isn’t a futuristic Hollywood movie, this is Australia in 2017.

Jul 10 08:41

DYING MIDDLE CLASS: THE NUMBER OF AMERICANS THAT CAN’T AFFORD THEIR OWN HOMES HAS MORE THAN DOUBLED

Have you lost your spot in the middle class yet? For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. According to a report that was produced by researchers at Harvard University, the number of Americans that spend more than 30 percent of their incomes on housing has more than doubled. In 2001, nearly 16 million Americans couldn’t afford the homes that they were currently living in, but by 2015 that figure had jumped to 38 million.

Webmaster's Commentary: 

This is not accidental, but completely deliberate, on the part of the Federal Government.

And why?!? Because traditionally, protests against government policies began with the middle class.

Offshoring/outsourcing of jobs, which were once the bedrock of the American middle class has caused many individuals to be working several minimum wage jobs, just to barely survive.

That kind of financial survivalism mode with which these people have had to contend, since losing a decent paying job, has spawned shows like "Extreme Couponing", which features people whose frugality appears to be on steroids.

Jul 10 08:02

BEIJING: CHINA SET TO HELP REBUILD SYRIA

With many in Damascus increasingly confident that Syria will win the war against the terrorists who have invaded their country, focus is starting to gradually shift to re-building Syria’s damaged infrastructure. China is set to be the key player in this respect and preparations to increase China’s business ties to Syria are already in the works.

On Sunday the China-Arab Exchange Association in cooperation with the Syrian Embassy in Beijing held the Syria Day Expo where Representative from over 1,000 Chinese business specialising in redevelopment, infrastructure and investment met with Syrian officials.

The event itself is something of a prelude to a forthcoming larger event, the Syrian Reconstruction Expo.

Imad Mustafa, the Syrian Ambassador to China confirmed that China will be given priority in the rebuilding of post-conflict Syria.

Webmaster's Commentary: 

The Chinese government, unlike that the US government, has the ability to look at the long view of things, to see what mutually beneficial relationships may come from economic collaboration.

This coming relationship with Syria is simply a manifestation of that capability of perspective.

Jul 10 07:48

The Inevitability Of DeGrowth

Jul 10 06:55

BEIJING: CHINA SET TO HELP REBUILD SYRIA

With many in Damascus increasingly confident that Syria will win the war against the terrorists who have invaded their country, focus is starting to gradually shift to re-building Syria’s damaged infrastructure. China is set to be the key player in this respect and preparations to increase China’s business ties to Syria are already in the works. On Sunday the China-Arab Exchange Association in cooperation with the Syrian Embassy in Beijing held the Syria Day Expo where Representative from over 1,000 Chinese business specialising in redevelopment, infrastructure and investment met with Syrian officials.

Jul 10 03:09

Dying Middle Class: The Number Of Americans That Can’t Afford Their Own Homes Has More Than Doubled

Have you lost your spot in the middle class yet?  For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. 

Jul 10 02:50

Scott Adams: North Korea is an Information Problem Disguised as a Military Problem

In the year 2017, most of our national problems are information problems. And by that I mean having the right information would allow us to solve most problems.

Consider the nuclear threat from North Korea. That’s an information problem disguised as a military problem.

I hope that statement seems wrong to you, so you will be extra-impressed when I change your mind in the next hundred seconds.

Jul 09 16:31

Kevin Lawton – Cryptos Are Speculation Not Currency, Bitcoin Civil War Coming Soon

Kevin Lawton, recently wrote a Kindle short titled “Beyond the Bitcoin Trap: A Crypto Currency for Human 2.0” predicts, “This year is going to be the year of volatility in Bitcoin price.

Jul 09 16:23

The Motorcycle Industry Is Dying

Jul 09 08:53

'F**k the rich!' What Jeremy Corbyn REALLY thinks of high-rate taxpayers

The explosive quote was attributed to the then-backbencher MP in 1997, as he addressed a crowd of young demonstrators, just months after Tony Blair swept to a huge majority in the election with his centre-left policies.

Speaking in London’s Hyde Park on November 26 1997 during a rally against the cutting of university grants introduction of fees, Jeremy Corbyn said: "We have to address the problems of society by redistributing wealth. F**k the rich!"

Jul 09 08:11

How teachers, firemen and college endowments ended up enriching America’s hedge fund billionaires

Public pensions and college endowments are some of the biggest investors in hedge funds, investment vehicles that have made their managers some of the wealthiest people in the world.Middlemen funnel this public money into the hedge funds, as do funds of funds. All of them collect fees.Pensions could have been better off investing in cash than in hedge funds, largely because of the high fees investors pay hedge fund managers. Hedge funds haven’t met the expectations for endowments over the past several years, either.

Jul 09 06:52

A Supercomputer Is Betting on a Market Crash in the Months Ahead

One of the world's most powerful supercomputers, retrofitted for trading the stock market, appears to be betting on a crash in the months ahead.

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