ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 05 11:30

Cash-strapped Venezuela offers to pay for medicines with diamonds

With hospital shelves bare and the government stumped on how to settle $5 billion in arrears to pharmaceutical companies, cash-strapped Venezuela recently offered some foreign suppliers alternative compensation: diamonds, gold and coltan, the rare metal used to make cellphones and Playstations.

Jan 05 11:15

These Are The 103 Stores That Sears Announced It Will Be Closing

Just hours after Macy's announced it would lay off another 5,000 workers and shutter an additional 7 stores as part of its operational overhaul, bringing the total number of stores shut since 2015 to 124 as Amazon slowly but surely wins the game, Sears Holdings, the parent company of Sears and Kmart stores, announced on Thursday that it will be closing an additional 100 stores this year.

The breakdown consists of 64 Kmart stores and 39 Sears stores, all of which are expected to shut between early March and April, with the company explaining the move as follows: "we will continue to close some unprofitable stores as we transform our business model so that our physical store footprint and our digital capabilities match the needs and preferences of our members."

The good news - if only for shoppers - is that like in Macy's case, liquidation sales will begin as early as Jan. 12 at the closing stores.

Jan 05 11:14

Tesla Bonds Tumble - Now 'Riskier' Than Indonesia

After missing expectations for Model 3 deliveries (by 50%), delaying production goals once again, it appears the bond market is starting to give up on Elon Musk's dreams for Tesla's future.

While stocks are rebounding, bonds are not...

Jan 05 11:14

Macy's Announces 5,000 Job Cuts, Closure Of 7 More Stores; Stock Tumbles

On Thursday morning, former retail giant Macy's, announced that was preparing to fire 5,000 job cuts, including closure of seven previously unidentified stores and other cuts at remaining locations, as it seeks stability in a tumultuous climate for "physical retail." The retailer's cost reductions come as it announced that its comparable holiday sales rose a modest 1.1% for the Nov/Dec period relative to 2016.

Jan 05 11:12

Pakistan brings Chinese yuan on par with US dollar for investment & trade with Beijing

Pakistani companies have been given a green light to use the Chinese yuan in trade with Beijing, which could potentially sideline the US dollar and other currencies used there. The move coincides with a US-Pakistan aid row.
The State Bank of Pakistan (SBP) said it “has taken comprehensive policy-related measures to ensure that imports, exports and financing transactions can be denominated in CNY,” according to a statement issued late on Tuesday. CNY is now effectively on par with the US dollar, euro and other international currencies in the country.

Jan 05 11:09

Blizzard Triggers a 60-Fold Surge in Prices for U.S. Natural Gas

Natural gas surged to 60 times the going rate as howling blizzard conditions stoked demand for the furnace fuel across the U.S. Northeast.

Spot prices for the fuel used to heat homes and generate power reached a record $175 per million British thermal units in New York, according to Consolidated Edison Inc. That’s a far cry from the $2.93 that U.S. gas futures have been averaging on the New York Mercantile Exchange this winter.

Jan 05 10:58

Sears is closing over 100 more stores

Sears Holdings, parent company of Sears and Kmart stores, told its employees Thursday that it will be closing more than 100 additional stores this year.

That consists of 64 Kmart stores and 39 Sears stores, all of which are expected to shut between early March and April.

Jan 05 10:50

The Banks with the Most Consumer Complaints: A Dive into CFPB’s Database

Under pressure from the banks, the government may take down the site.

Jan 05 10:49

Global Debt Hits Record $233 Trillion

Global debt rose to a record $233 trillion in the third quarter of 2017, more than $16 trillion higher from end-2016, according to an analysis by the Institute of International Finance. Private non-financial sector debt hit all-time highs in Canada, France, Hong Kong, South Korea, Switzerland and Turkey.

Jan 05 10:48

Toshiba Dumps Westinghouse For $4.6B

Toshiba has sold its U.S. nuclear power business, Westinghouse, for US$4.6 billion to a group of investment companies led by Brookfield Asset Management. The deal puts an end to a major headache for the Japanese conglomerate, which last year warned that it might have trouble surviving if it didn’t find a buyer for the nuclear power plant constructor, which it acquired in 2006 for US$5 billion.

Jan 05 10:13

The Leveraged Economy BLOWS UP In 2018

Jan 05 09:36

LG Electronics to Sell Robots to Replace Hotel, Airport, Supermarket Employees

LG Electronics is planning to sell robots that will replace human workers in hotels, airports, and supermarkets.

According to CNBC, “LG said it will showcase three new ‘concept robots’ at the global consumer electronics show, CES, in Las Vegas next week,” designed for “commercial use at hotels, airports, and supermarkets.”

Though an LG spokesman claimed that the robots are just “concept” products, and are “a long way from ready to go public,” they will eventually be able to replace numerous service jobs in each sector.

Jan 05 09:16

EU trade war: Brussels demands €1.4BILLION from Russia after Putin bans imports of EU PORK

The bloc will make the case for financial compensation to a World Trade Organisation arbitration panel after the trade regulator ruled the bacon ban was illegal in 2017.

It is asking for €1.4 billion in compensation, which would be collected by withdrawing tariff reductions Brussels granted to Russia under WTO rules.

The amount is equal to the yearly volume of pork exports to Russia prior to the trade embargo.

Russia has already rejected the idea of paying compensation to the EU.

Jan 05 09:11

Deutsche Bank in TURMOIL as shareholders REVOLT demanding £660M compensation

DEUTSCHE Bank has plunged into turmoil after more than 30 German and international investors sued the national bank over a takeover deal which left them short-changed.

Jan 05 08:37

Trump Must School Sessions on Medical Marijuana. NOW.

School him! Good luck. ThaT man is pathological when it comes to Cannabis!
FIRE HIM!

When it comes to lower-profile yet critically important issues such as medical marijuana, President Trump’s own Justice Department has been actively undermining candidate Trump’s numerous, clear promises to respect the right of states to pass laws that allow for it.

This is important.

Candidate Trump was always very clear in his many promises on medical marijuana. In October of 2015, Trump said at a rally in Nevada “the marijuana thing is such a big thing. I think medical should happen” and then on a Michigan radio station in March of 2016 he said “I think that it should be up to the states.” Trump even went on Fox News during the campaign and said of medical marijuana “I’m in favor of it a hundred percent.” Trump’s support for medical marijuana was unequivocal and considered to be a solemn promise to the voters who put him in office.

Jan 05 08:31

Donald Trump On WWJ: From Marijuana To Torture, 7 Things To Know Before Casting Your Ballot

Keep your promise Mr. President and please fire Sessions!

Trump says he’s NEVER smoked weed, but he does like it

“I never have smoked it. I think it certainly has to be a state — I have not smoked it — it’s got to be a state decision,” he said. “Colorado did it as you know and I guess it’s very mixed right now, they haven’t really made a final determination. There seems to be certain health problems with it and that would be certainly bothersome. I do like it, you know, from a medical standpoint — it does do pretty good things. But from the other standpoint, I think that should be up to the states. Certainly, from a medical standpoint, a lot of people are liking it.”

Jan 05 06:42

Economic Absurdity and Financial Insanity

Jan 05 05:59

Top 10 Charts For Investors To Watch In 2018

Jan 04 16:34

The robots that are coming for your job: LG reveals trio of 'friendly' droids that are set to replace workers in airports, hotels and supermarkets

New robots designed to replace workers in airports, hotels and supermarkets have been announced by LG Electronics.

The firm is showcasing a trio of robots designed to carry your suitcase, shopping and drinks at the global Consumer Electronics Show (CES) in Las Vegas next week.

Tech companies are racing to create automated machines capable of carrying out service industry tasks, threatening the jobs of up to 800 million workers worldwide.

Jan 04 15:09

U.S. to end policy that let legal marijuana flourish

Sessions ending federal policy that let legal pot flourish

Jan 04 12:52

John Rubino – Gold Keeps Going Up

Jan 04 12:01

Chaos in Catalonia Hits Barcelona Housing Bubble

Turns out all that’s needed to halt a property bubble is a constitutional crisis of epic proportions.

Jan 04 09:01

Retail Apocalypse: 12,000 Store Closings Expected In 2018, Following 9,000 In 2017

Retailers are bracing for a fresh wave of store closings in 2018 that is expected to eclipse the rash of closings that rocked the industry last year.

“Landlords are panicking,” said Larry Perkins, the CEO and founder of the advisory firm SierraConstellation Partners. “The last year was pretty apocalyptic from a retail standpoint, and the macro issues haven’t changed. There will continue to be a high degree of bankruptcies and store closures.”

Jan 04 08:49

Has the Subway sandwich chain lost its mojo?

Jan 04 08:01

Investment Outlook 2018

Jan 04 07:33

Venezuela NOW BANKRUPT! Missed Billions in Payments and $9 Billion More Due in 2018!

As far as I'm concerned, Venezuela is bankrupt. There's no way out of this through natural market forces.

Jan 03 17:10

The Central Banks Make Their Move, This Is How They Are Doing It

Since the great recession the economy has been pumped with stimulus, manipulated government stats and propaganda from the Fed.

Jan 03 15:55

Danielle Park–Sustaining the Unsustainable

Jan 03 15:17

Declining Dollar Boosts Gold to New Highs

Jan 03 13:19

2 HIDDEN Reasons Why $200 Billion Dropped OUT of the Stock Market Yet It Breaks Record Highs!

I found this to be very interesting. I hope you do as well.

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