ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 31 12:44

Morgan Stanley: Used Car Prices May Crash 50%

For months we've been talking about the massive lending bubble propping up the U.S. auto market. Now, noting many of the same concerns that we've highlighted repeatedly, Morgan Stanley's auto team, led by Adam Jonas, has just issued a report detailing why they think used car prices could crash by up to 50% over the next 4-5 years.

Webmaster's Commentary: 

I don't know what used price cars are on the mainland, but here on Oahu, in looking at commercials for leases on higher end pre-owned cars, it appears that car dealers just cannot move product.

And I would suggest that the floor may come for used car sales even more quickly, and more aggressively, that a 4 - 5 year time frame!!

Mar 31 12:37

The US Owes 3x all the gold ever produced

The US owes the world 453,000 tons of gold which is almost 3 times all the gold ever produced in history. The average American is totally unaware what is happening to his money since he doesn’t travel outside the country. He doesn’t realize how prices are going up every year, especially since the official inflation figures have nothing to do with real inflation.

Mar 31 12:30

"Manias, Panics And Crashes": A Stunning Warning From Bank Of America

Bank of America's Michael Hartnett is back with another controversial note overnight, reminding readers that "it ain't a normal cycle" for one overarching reason: central banks.

Mar 31 12:28

Urban Farmer Curtis Stone Teaches Profitable Backyard Farming

By Vin Armani

In this video, the Urban Farmer Curtis Stone describes his journey from socialist musician to liberty-loving entrepreneur who’s frontyard and backyard farm makes more than $100,000 a year. Curtis is an inspirational example of living the change he wants to see in the world.

Curtis Stone is a farmer, author, speaker and consultant. His area of expertise is in quick growing, high value annual vegetables for direct consumer market streams. His book, The Urban Farmer demonstrates organic intensive techniques with a focus on business and systems to streamline labor and production. He offers a new way to think about farming. One where quality of life and profitability coexist. Visit Curtis at http://theurbanfarmer.co/

Mar 31 11:09

High Number Of Consumers See Stock Rally As Sure Thing

The percentage of respondents in UM’s survey of consumers who view a stock rally over the next 12 months as a “sure thing” is near record levels.

Mar 31 10:16

Seven pro-marijuana bills introduced Thursday in Congress

Seven pro-marijuana industry bills were announced Thursday morning by a bipartisan group of U.S. lawmakers in the House and Senate, suggesting that 2017 may be the year real reform gets through the Capitol.

The sponsors range from longtime marijuana industry allies such as Oregon Democrat U.S. Rep. Earl Blumenauer to newcomers to the cause such as Florida Republican U.S. Rep. Carlos Curbelo.

Three bills were introduced in the Senate, along with four more in the House. In the upper chamber, the point man is Oregon Democratic Sen. Ron Wyden, who is sponsoring all three bills.

Mar 31 10:09

MEDIA DELUDES AMERICANS: Shale Oil Production Suffers Massive Decline Rates

The Mainstream media continues to delude the public into believing cheap shale oil production will make the United States energy independent. We now see articles suggesting that Americans will no longer need to rely upon the Middle East or OPEC for our future oil supply when all we need to do is ramp up our domestic shale oil production. Unfortunately, its not that simple or easy.

Mar 31 10:02

THE TICKING TIME BOMB THAT WILL WIPE OUT VIRTUALLY EVERY PENSION FUND IN AMERICA

Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history? When Bloomberg published an editorial entitled “Pension Crisis Too Big for Markets to Ignore“, it simply confirmed what a lot of people already knew to be true. Pension funds all over America are woefully underfunded, and they have been pouring mind boggling amounts of money into very risky investments such as Internet stocks and commercial mortgages. Just like with subprime mortgages in 2008, this is a crisis that everyone can see coming well in advance, and yet nothing is being done about it.

Webmaster's Commentary: 

And what happens to people whose pensions fail, because of the economic strains both cities and financial institutions are under?!?

There is going to be a lot of emotional and financial pain, begging to live with family members or friends; visualise, if you will, the TV series "The Golden Girls", but without the laughs.

I would strongly suggest that right now, you choose not to be a victim of such a potential calamity.

When it comes to financial issues, trust is either for complete idiots, or for those people who can do their financial advisors a great deal of harm, if their monetary outcomes are not to their liking.

If humanly possible, you have to be your own financial planner, and make sure that you have some hedges, including some physical precious metals which are directly under your own control.

Unfortunately, this problem is not going to be going away anytime soon, and no "magical thinking" on the part of a soon to be pensioned retiree, will make that happen.

Mar 31 09:27

The world’s first pension crisis

In the late in the 5th century BC, the government of ancient Rome came up with a new idea that has lasted for thousands of years.

Mar 31 09:15

Iowa governor blocks minimum wage hike approved in several counties

Tens of thousands of Iowa workers who received a raise in Iowa could see their pay cut after the governor signed a bill that would roll back the minimum wage throughout the state.

On Thursday, Iowa Governor Terry Branstad (R) signed House File 295, which prohibits any county or city in the state from exceeding the statewide minimum wage of $7.25.

The statewide minimum wage is the same as the federal minimum and has remained at $7.25 since 2008.

Mar 31 09:15

‘EU is particularly good at doing a terrible job’ – Yanis Varoufakis

Former Greek Finance Minister Yanis Varoufakis has described the measures taken by the EU to settle the economic crisis in Greece as a “terrible job.” The comment comes as Greece agrees to new reforms that are set to help the country qualify for cheaper loans.

“Isn’t it yet another piece of evidence that the European Union is particularly good at doing a terrible job, but handling what should be a very manageable crisis,” Varoufakis told CNN on Tuesday.

He noted that, in fact, the goals set for Athens are nearly impossible to reach. “The people at the IMF [International Monetary Fund]… told us that the Greek debt is unsustainable and the austerity that is being [imposed] upon Greece is catastrophic for the program itself.”

Mar 31 09:14

The ECB’s Illusory Independence

A commitment to the independence of central banks is a vital part of the creed that “serious” policymakers are expected to uphold (privatization, labor-market “flexibility,” and so on). But what are central banks meant to be independent of? The answer seems obvious: governments.

In this sense, the European Central Bank is the quintessentially independent central bank: No single government stands behind it, and it is expressly prohibited from standing behind any of the national governments whose central bank it is. And yet the ECB is the least independent central bank in the developed world.

Mar 31 09:08

This Indicator Says Recession Dead Ahead

Mar 31 08:39

Stock Market “Exuberance” Drives Merger Valuations to “Highest Level on Record”

Pre-collapse year 2007 keeps popping up with eerie frequency.

Mar 31 08:09

The Ticking Time Bomb That Will Wipe Out Virtually Every Pension Fund In America

Are millions of Americans about to see the big, juicy pensions that they were counting on to fund their golden years go up in flames in the biggest financial disaster in U.S. history?

Mar 31 08:09

Bitcoin Payment System Can Help Revitalize Iran’s Economy: US Analyst

An American political analyst said the Bitcoin payment network can help the Islamic Republic of Iran develop both its domestic and foreign economy, adding that the system could “create many jobs” across the country...

Mar 30 15:47

How Much of your State's Debt Rests on your Shoulders

Uncle Sam is not the only one who can raise taxes and borrow money on your behalf. Those powers also belong to each and every state in the Union – and they all exercise them.

Mar 30 15:27

Could Stock And Real Estate Prices Collapse Again?

I will be the first to admit it: I’m a lousy investor.

My first forays into the investment markets came in the early 1980s, when I saved up enough money to buy some stocks. Like so many other new and eager investors, I bought when prices were rising. And so on October 19, 1987 – otherwise known as “Black Monday” – I along with millions of other investors was caught up in the largest one-day crash of US markets ever. The S&P 500 lost 20.5% that day, with $500 billion of investor losses.

Mar 30 14:53

CBI Governor: Iran, Russia to Use Nat'l Currencies in Trade Transactions

Governor of the Central Bank of Iran (CBI) Valiollah Seif underlined that Tehran and Moscow will use their currencies in trade exchanges between the two countries.

Webmaster's Commentary: 

"NO!!!!!" -- Das FED

Mar 30 13:26

A Health Care Plan So Simple, Even A Republican Can Understand!

It’s always impossible to repeal laws that require Ann to pay for greedy people, because the greedy run out on the streets wailing that the Republicans are murdering them.

Obamacare is uniquely awful because the free stuff isn’t paid for through income taxes: It’s paid for through MY health insurance premiums. This is unfortunate because I wanted to buy health insurance.

Perhaps you’re not aware — SINCE YOU EXEMPTED YOURSELVES FROM OBAMACARE, CONGRESS — but buying or selling health insurance is illegal in America.

Right now, there’s no free market because insurance is insanely regulated not only by Obamacare, but also by the most corrupt organizations in America: state insurance commissions. (I’m talking to you, New York!)

Federal and state laws make it illegal to sell health insurance that doesn’t cover a laughable array of supposedly vital services based on bureaucrats’ medical opinions of which providers have the best lobbyists.

Mar 30 12:14

Is there something about to happen? Luxury bunker sales going through the roof

When ordinary people begin to accumulate survival gear and build bunkers in their back yards, it’s a sign of the times. It’s what ordinary people did throughout the Cold War, and it’s what a lot of ordinary people have been doing since 9/11. But when rich people start building bunkers and stockpiling food and weapons, it’s not just a sign of the times. It’s a sign that something may be about to go down.

Mar 30 12:09

Why you should not short the SNAP yet?

Mar 30 12:03

Sales Taxes Record $374,793,000,000…

Americans paid a record $374,793,000,000 in general sales and gross receipt taxes to state and local governments in fiscal 2016, according to the U.S. Census Bureau. That was up $1,535,980,000—or about 0.4 percent—from the $373,257,020,000 in general sales and gross receipt taxes (in constant 2016 dollars) that state and local governments collected in fiscal 2015. Fiscal 2016 was the third year in a row that general sales and gross receipt taxes set a record.

Mar 30 11:32

The Central Banks Begin 'Operation Frothy', Systematically Bringing The Economy Down

UK triggers article 50. Greek deputies will need to cut the salaries. Consumer confidence being faked by the conference board, Gallup shows the complete opposite. Minimum wage hiked in St. Louis which in turn cause more people to lose jobs.How many jobs do robots destroy, the answer might suprise you.

Mar 30 10:28

Rand Paul's Audit The Fed Bill Passes House Committee - What Does This Mean For The Federal Reserve?

Recently, the Republican controlled committee on oversight and government reform approved a bill to allow for a congressional audit of the Federal Reserve's monetary policy.

Mar 30 09:24

Sjuggerud: The most contrarian trade you will ever make…

What kind of fool would bet on LOWER interest rates?

I would!

Mar 30 09:23

The core of the problem in America, the private Federal Reserve Bank

How this is an unconstitutional entity, a private non governmental agency which is robbing America blind. We can easily End the Federal Reserve by using Article 5 of the US Constitution and replacing it with a variety of options.

Mar 30 09:05

How many NSA spy hubs are scooping up your Internet data?

Not that knowing NSA's sigint locations will actually help you much...

Mar 30 08:56

With Gold Poised For Big Gains, In What Inning Of The Gold Bull Market Are We Currently In

Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum AG, which says that the precious metal may be in the early stages of a bull market.

Mar 30 08:45

FREE STUFF

Mar 30 08:38

Pound jumps against euro as Germany’s inflation data shocks markets

Sterling lifted by 0.8 per cent against Europe's economy to 1.1643, after the cost of living in Europe's largest economy came in at 1.5 per cent - tumbling from 2.2 per cent in February.

Markets had expected an inflation reading for March of around 1.9 per cent, with the shock leading to euro sell-offs.

The ECB's huge current money-printing programme has been designed to stoke rising prices and kick the economy into action.

Mar 30 08:37

Corporate borrowing is falling off a cliff

U.S. bank lending to commercial and industrial companies has ground to a halt…

Mar 30 08:30

US considers 100% tariffs on EU goods as Trump ramps up trade WAR

DONALD Trump has ramped up tension between the US and EU as his administration threatens to impose 100 per cent tariffs on European goods.

America’s trade battle with Brussels is set to continue as Donald Trump considers a hike on the price of Perrier mineral water, Vespa motor scooters and Roquefort cheese as he hits back over the EU’s long-standing ban on hormone-treated American beef.

Mar 30 08:13

Oligarchs Laughed When Putin Said He Would Double Russia's GDP in 10 Years. Now He Wants to Do It Again

Russia experienced an economic miracle between 2003 and 2013. Can it happen again?

Webmaster's Commentary: 

Russia experienced an economic miracle because Putin took control of the nation's currency away from their private central bank! That is what made Putin an enemy of every nation still enslaved to private central banks!

Mar 30 08:10

"We Are Going To Audit The Federal Reserve" Jason Chaffetz Shocks Democrats

Mar 30 08:01

Prepare For Millions Of Jobs To Disappear Overnight Once Driverless Car And Robot & Drone Technology Perfected

Prime Air — a delivery system from Amazon designed to safely get packages to customers in 30 minutes or less using unmanned aerial vehicles, also called drones.

Mar 30 07:54

Jim Rogers Warns Clueless Federal Reserve Will be the ‘Ruin of Us All’

The Fed doesn’t have any idea what it is doing, and this ineptness will be “the ruin of us all,” says Jim Rogers, co-founder of the Quantum Fund, and perhaps the most charming man in the financial world.

Mar 30 07:44

What Path Will Globalization Take Moving Ahead In To 2017? Are We Going To Witness The End Of Globalization?

Are we going to see an end to the globalization phenomenon or will it persist for the next few years? Credit Suisse Research Institute has tried to answer this question in their report "Getting over Globalization".

Mar 30 07:32

"If you can't answer the question, you might as well call the coroner" Trey Gowdy Shocks Banker

Mar 30 07:29

Brexit Gold Buying – UK Demand for Gold Bars Surges 39%

As the UK triggered its formal departure from the European Union yesterday, gold demand from UK investors remained ongoing and robust with increased numbers of British investors diversifying into physical gold in order to hedge the considerable uncertainty and volatility that the coming months and years will bring.

Mar 30 07:24

Supersonic Jet Project Gets Funded!

While everything around us is accelerating, air travel has slowed down over the last 15 years (since Concorde was retired) and terrorism has made our journey through the airport to get on a plane a LONG and tedious exercise.

Boom Aerospace has just taken a step closer to making supersonic passenger planes a reality after securing $33million (£26million) funding from investors. Like everything in this super fast world in which we live, speed is the currency of winners! With Boom securing this investment they are getting much closer than their competitors to bringing back civilian supersonic air travel to the world.

Webmaster's Commentary: 

This is a good example of leap-frogging ahead of the rest of the world.

Mar 30 07:12

Yes, The Stock Market Rally Is Over. But Don’t Blame It On Trump.

After Election Day, the stock market priced in four years of a Donald Trump presidency in less than four months of trading. On Nov. 7, the Dow Jones Industrial Average briefly fell below 18,000 intraday. By March 2, the benchmark index had topped 21,100 — an impressive 17 percent gain.

Mar 30 05:55

"Trickle Down" Has Failed; Wealth and Income Have "Trickled Up" to the Top .5%

Central bank policies have generated a truly unprecedented "trickle-up" of wealth and income to the top .5%.

Over the past 20 years, central banks have run a gigantic real-world experiment called "trickle-down."

Mar 30 05:01

We Are A Deeply Divided And Broken Nation, And If We Don’t Find A Way To Fix Things America Will Not Survive.

Is this the beginning of the end for the United States of America? It has been said that a house divided against itself will surely fall, and today we live in a shattered union.

Mar 29 21:00

Trump Facing a Looming Government Shutdown He May Not Be Able To Stop (Video)

Equity markets were riding high since the election of Trump, with the Dow Jones Index hitting a high of 21,115 on March 1. Since then however, it appears the market has been starting to correct itself, and has fallen by 450+ points off its peak in recent weeks…

Have the markets been trying to tell us something? How many people are aware that Tuesday marked the longest losing streak for the Dow since 1978? Thankfully, there has been some talk on Capital Hill about the Obamacare replacement bill potentially being revived, so of course comes as good news, but unfortunately there is something else going on that no one is talking about. The U.S. government runs out of money on April 28th, which is only 12 legislative days away, and the chances of passing a new spending bill are about nil to none according to sources close to the White House.

Mar 29 13:43

Commercial Real-Estate Bubble “Can Breathe Easier” after Health Bill Collapsed in Congress

To keep from deflating, property bubble needs Obamacare.

Mar 29 12:52

The Overlapping Crises Are Coming, Regardless of Who’s in Power

Commentators seem to split into three camps: those who see Trump as a manifestation of smoldering social/economic ills, those who see Trump and his supporters as the cause of those ills, and those who see Trump as both manifestation and cause of those ills. I think this misses the point, which is the overlapping crises unfolding in this decade– diminishing returns on skyrocketing debts, the demographics of an aging populace, the erosion of the social contract and the profound disunity of political elites–will continue expanding and feeding on each other regardless of who is in power.

Mar 29 12:29

Colorado Takes Preemptive Action Against Impending Federal Marijuana Crackdown

It’s the boldest attempt yet by a U.S. marijuana state

Mar 29 12:00

Washington state Democrats willing to exempt Boeing from higher business taxes

Some businesses in Washington state aren’t going to be as lucky as Boeing.

Mar 29 08:48

NEW STUDY SAYS ROBOTS TOOK ALL OF DETROIT'S JOBS, NOT MEXICO

As Trump gets ready to renegotiate NAFTA and impose tariffs on companies looking to outsource production to Mexico, a new study from MIT and Boston University suggests that industrial robots, not Mexico, may be the bigger factor contributing to the high levels on unemployment in the Midwest.
Entitled "Robots and Jobs: Evidence From US Labor Markets," the authors of the study found that the addition of 1 robot per 1,000 workers results in an 18-35 bps reduction in the employment-to-population ratio and 25-50bps reduction in wages. Per Bloomberg:

One additional robot per thousand workers reduces the employment-to-population ratio by 0.18 percentage points to 0.34 percentage points and slashes wages by 0.25 percent to 0.5 percent, based on their analysis. To put that in context, the U.S. saw an increase of about one new industrial robot for every thousand workers between 1993 and 2007, based on the study.

Webmaster's Commentary: 

This is the future of what used to be manual labor in this country and beyond.

Look for this technology, coupled with computer control, to offset thousands of jobs worldwide, and soon.

Mar 29 08:30

Karl Denninger - We all Know How This Party is Going to End, Obamacare is the Reason for Anemic Growth

Karl Denninger, a professional trader, says the financial markets look eerily like they did just before the “dot-com bust” (2000) and the financial meltdown of 2008.

Mar 29 08:09

Death Valley Snowballs and Fiat Currencies

Snowballs have a short life expectancy in Death Valley.

Fiat currencies, backed by credit and debt, survive longer than snowballs in Death Valley, but history shows all fiat currencies are inflated into worthlessness and eventually die.

“U.S. dollars have value only to the extent that they are strictly limited in supply.” Ben Bernanke on November 21, 2002. But we know the supply of dollars has grown rapidly since 1971, and especially after the 2008 crisis while Bernanke was Chairman of the Fed.

The U.S. government is officially $20 trillion in debt. Unfunded liabilities are far larger.

Mar 29 07:38

West Virginia House Unanimously Approves Commercial Hemp Farming

By Michael Maharrey

Today, the West Virginia House unanimously passed a bill that would significantly expand the state’s hemp licensing program, opening the door for anybody in the state to produce or process industrial hemp for commercial purposes. Final approval would set the foundation to end federal prohibition in practice...

Mar 29 07:22

The Catastrophic Law That Mandates A Stock Market Crash

This is the beginning of a mass exodus from the stock market.

Mar 29 06:45

WARNING: U.S. Ponzi Retirement Market In Big Trouble, Protect With Precious Metals

The U.S. Retirement Market is in BIG TROUBLE as annual benefits paid out are now larger than total contributions. Actually, the amount of net withdrawals were the highest in history. When payouts become larger than contributions… then we have the making of the typical PONZI SCHEME.

Mar 29 06:32

ECB under Pressure to Reverse Direction

The European Central Bank (ECB) is coming under fresh pressure to increase interest rates, not merely from the standpoint that the Federal Reserve has been doing since the turn in our Economic Confidence Model 2015.75, when the first rate hike took place in December 2015.

Mar 29 06:19

Reagan budget adviser: Trump’s $4 trillion fiscal hole

The “you ain’t seen nothing yet” rule applies from here on out.

The GOP was unified on Obamacare “repeal” but completely fractured on “replace,” both on policy philosophy and fiscal cost.

Mar 28 15:58

Investors jump ship from Dow ETF as blue-chip average's momentum cools

fund has lost nearly $2 Billion in assetts since february

>>>

Mar 28 13:38

"We Are Going To Audit The Federal Reserve" Jason Chaffetz Shocks Democrats

A House panel led by Rep. Jason Chaffetz on Tuesday (3/28) approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank. Trump signaled support for measure during campaign

Mar 28 12:50

Meet SAM, Brick Laying Robot That Does The Work Of 6 Humans

In the latest installment of our "Dear Bernie" series, posts intended to inform the Vermont Senator about the unintended, negative consequences of minimum wage hikes, we present SAM (Semi-Automated Mason), a brick laying robot designed and engineered by Construction Robotics out of New York. While SAM can do the work of 6 unionized masons each day, he never requires a break, benefits or a paycheck.

Webmaster's Commentary: 

This is truly incredible, and I urge you to watch the video.

SAM is what the future of manual work will look like, in the not too-distant future.

Mar 28 12:39

What A Westinghouse Bankruptcy Could Mean For U.S. Utilities

International news services now report that Japan’s Toshiba Corporation (9502.T) is preparing to make a chapter 11 bankruptcy filing for its Westinghouse Electric subsidiary as soon as this Monday, March 27.

Mar 28 12:17

America's retail apocalypse: How 3,500 stores are set to close across the country!

What recovery???? More like an Apocalypse!

Stores closing everywhere!

Mar 28 11:06

Russia, China Lay Groundwork For BRICS Transactions in Gold

Recent progress made in streamlining trade in local currencies has brought Moscow and Beijing closer to creating a financial architecture that could facilitate transactions in gold.

As we reported last week, Moscow and Beijing took another step towards de-dollarization with the opening of a yuan clearing bank in Russia. And earlier this month Russia's Central Bank opened its first-ever foreign branch in Beijing to allow for better communication between Russian and Chinese financial authorities.

According to an article published yesterday by Sputnik, progress made in promoting bilateral trade in yuan is the first step towards an even more ambitions plan — using gold to make transactions:

Webmaster's Commentary: 

"NUKE 'EM!

"NUKE 'EM!

"NUKE 'EM!" -- Das FED

Mar 28 10:54

Why you should care about bitcoin

Mar 28 10:31

Who Owns The Federal Reserve Full by Brother Nathanael

Mar 28 10:28

Baltimore Mayor's Veto of $15/Hr Bill Shows Corporate Wing of Democrats Alive and Well

Labor reporter Mike Elk discusses the potential backlash faced by Maryland Democrats as well as the significance of the Mississippi Nissan workers struggle

Mar 28 10:28

Will Dems Derail Sanders's Push for Public Option?

Wendell Potter, a health insurance executive turned whistleblower, on the GOP failure to repeal Obamacare and what lessons the 2009 defeat of the public option - when Democrats controlled Congress - can offer today.

Mar 28 10:22

House panel passes bill to audit the Fed

A House panel on Tuesday approved legislation that would let a government watchdog audit the Federal Reserve’s monetary policy decisions, a move bitterly opposed by the central bank.

The House Committee on oversight and government reform passed the measure by voice vote after roughly 30 minutes of debate.

The bill was the brainchild of Ron Paul, the former House Republican and libertarian presidential candidate and sharp critic of the U.S. monetary policy. Versions of the bill have twice passed the House by wide margins but then stalled due to lack of support from Democrats in the Senate and the Obama administration.

Webmaster's Commentary: 
Mar 28 10:02

TRUMP TO SIGN "ENERGY INDEPENDENCE" ORDER KILLING OBAMA'S CLIMATE CHANGE INITIATIVES

Coming off a brutal Trumpcare defeat, delivered by members of his own party no less, Trump has decided to return to a strategy of progressing his policy initiatives through executive order. As such, later today President Trump is set to sign a sweeping new "Energy Independence" executive order aimed at promoting domestic oil, coal and natural gas production by reversing much of Obama's efforts to address climate change via his "Clean Power Plan".

Obama’s Clean Power Plan was designed to cut carbon dioxide emissions from electricity by 32% by 2030 compared to 2005 levels and resulted in the collapse of the coal industry, including several large bankruptcies. That said, the initiative has been in legal limbo since the Supreme Court stayed it while it was reviewed by a federal appeals court. The Trump administration now is expected ask that court to put the matter on hold to allow it time to revise or undo the measure -- an action environmentalists have vowed to challenge.

Webmaster's Commentary: 

President Trump, a word, please: this alleged "Energy Independence" puts this country back to dependence on fossil fuels, which have driven these insane wars of conquest in places like Iraq; Afghanistan; and Libya.

The US and UK have some of the finest engineering and mathematical minds in the world. Your "Energy Independence" plan should be planning to put some of these minds together, in a collaboration toward renewable, alternative independence which can power a tank or an airplane.

That, sir, would be a move forward toward REAL energy independence, and stop the need for wars to expropriate those resources to which we have no moral right; regime changing the governments of those countries from which we are expropriating said resources; and insure that those resources are only sold in US dollars.

That would save this government a lot of money, Mr. President!!

Mar 28 09:53

AFTER DRAMATIC OBAMACARE FAILURE, TRUMP NOW FACES A LOOMING GOVERNMENT SHUTDOWN HE MAY NOT BE ABLE TO PREVENT

If you thought that the Obamacare debacle was bad, just wait until you see what happens next. The continuing resolution that is currently funding the government expires on April 28th, and if a new funding agreement is not reached prior to that time, there will be a government shutdown like we witnessed in 2013 starting on April 29th. Unfortunately, as I will explain below, if a government shutdown happens it may go for a lot longer than just a couple of weeks this time around.
April 28th may sound like it is quite some time away, but because the congressional calendar has so many “holes” in it, there is actually not very much time for Congress to act.

If you can believe it, there are only 12 “legislative days” between now and April 28th, and if something is not done on one of those 12 days the government will shut down on April 29th.

Webmaster's Commentary: 

This is truly one of the most dysfunctional moments in American government I have ever witnessed; and in light of the fact that I turn 68 in a couple of months, I have seen a lot of these!!

Mar 28 09:40

GOVERNMENT MANDATORY HEALTH CARE IS STILL TYRANNY

House Speaker Paul Ryan said Friday that pulling the GOP leadership's bill to overhaul the US healthcare system from the House floor meant Obamacare would remain "the law of the land" for the foreseeable future.

Government Mandatory Health Care Is Still Tyranny

The failure of the GOP to repeal Obamacare proves once again that the establishment power structure maintains their grip on political policy. The incompetence of Paul Ryan is more closely described as a propensity to be a faithful stooge for the corporatist agenda. It is because of this assessment, which reflects the current state of conduct where nothing ever changes or actually improves society that keeps the malevolent system in place. Regretfully, Big Government is now the GOP Platform.

Webmaster's Commentary: 

What our readers, and listeners, need to do, is to educate themselves about nutrition and exercise, which sounds really basic, but there is absolutely a lot to learn, that your doctors won't tell you, because they are not profitable if you learn to keep yourself as well as possible; it is just that simple.

For example, has any doctor you have ever visited mentioned that turmeric appears to stop and slow the rate of cancer growth in the human body?!?

Turmeric's medicinal properties

Turmeric

Potent Spice Works To Block Growth Of Melanoma In Lab Test

Thought not.

And please, about diet; eat as organically as humanly possible. Yes, I know it will cost more; but isn't a long-term investment in your wellness worth it?!?

Mar 28 09:30

THE OVERLAPPING CRISES ARE COMING, REGARDLESS OF WHO'S IN POWER

No leader can reverse the dynamics of mutually reinforcing crises.

Commentators seem split into three camps: those who see Trump as a manifestation of smouldering social/economic ills, those who see Trump and his supporters as the cause of those ills, and those who see Trump as both manifestation and cause of those ills.

I think this misses the point, which is the overlapping crises unfolding in this decade-- diminishing returns on skyrocketing debts, the demographics of an aging populace, the erosion of the social contract and the profound disunity of political elites--will continue expanding and feeding on each other regardless of who is in power.

Historical analysis seems to swing between the "Big Man/Woman" narrative that views individuals as the drivers of history, and the "Big Forces/it's all economics" narrative that sees individual leaders as secondary to the broad sweep of forces beyond the control of any individual or group.

Mar 28 08:49

The Economic Volcano Is About To Blow

Mar 28 07:31

Republicans Blocked 'Buy American' Bill For Foreign Steel Companies

Mar 28 07:27

The Chaos Continues As Banks Begin To Crash

U.S. Dollar Just Fell Below THIS Top Technical Trading Indicator! 4 Month Low!
UK is entering meltdown mode, inflation surges.

Mar 28 07:00

Are the currency wars still raging?

One of the features of the post credit crunch era is that economies are less able to take further economic stress. This leads us straight into today’s topic which is the movements in exchange rates and the economic effects from that.

Mar 28 06:53

Crooked Columbus funded development group shuts down - supported development in the city’s struggling Linden neighborhood

formed in 1994 to support the neighborhood, offering services for businesses and using federal funds to build new houses, among other activities

Mar 28 04:09

After Dramatic Obamacare Failure, Trump Now Faces A Looming Government Shutdown He May Not Be Able To Prevent

If you thought that the Obamacare debacle was bad, just wait until you see what happens next. The continuing resolution that is currently funding the government expires on April 28th, and if a new funding agreement is not reached prior to that time, there will be a government shutdown like we witnessed in 2013 starting on April 29th.

Mar 27 20:34

Amazon shopping may be about to get even MORE expensive

Amazon shoppers may soon find that their online purchases cost more than expected.

The online retail giant has said that it will start collecting sales tax in four new states in the US from April 1st, bringing it to an important landmark that could mean price rises across the board.

The move, reported by CNBC, means that purchases made in the states of Hawaii, Idaho, Maine, and New Mexico will now incur sales tax.

Mar 27 16:19

Dow Losses Extend Into Day Eight; Longest Losing Streak in Nearly Six Years

The dow jones industroal average closed monday in the RED , its eighth straight day of losses , in a row , and it's lomgest streak of losses simce August , 2011>>>

Mar 27 15:43

Why $15 An Hour Should Be The Absolute Minimum Minimum Wage

There are many important issues on the national political table right now, but sometime soon, fixing the federal minimum wage should be there too.

Mar 27 15:14

Britain’s Poorest Children Constantly Moving House & Going Hungry – Study

Children growing up in Britain’s poorest families are frequently made to move home, travel long distances to school and spend extended periods indoors because of how unsafe their neighborhoods are.

Mar 27 14:33

Dr. Jim Willie: Top 10 Risks to the U.S. Dollar (Interview)

In the following video, Right Wing News personally interviews the one and only Dr. Jim Willie about the latest happenings in the global economic market and how they relate to what we should expect from the U.S. Dollar and U.S. economic markets.

Among some of the topics covered include the non-passage of “Obamacare Lite” and whether that is expected to have any significant effect on U.S. markets, as well the coming retail apocalypse, the Fed’s decision to raise interest rates when there is no data to suggest the economy can handle it, why other countries are dumping U.S. Treasuries, and what it means for Americans not if, but when the U.S. loses its status as the global reserve currency. After the interview, be sure to check out Dr. Willie's latest post at GoldSeek.com.

Mar 27 13:53

Auto Industry Resorts to Biggest Incentives Ever Just to Slow the Decline in Sales, Last Time Automakers Tried This Was In 2009!

In a few days, automakers are going to report their new vehicle deliveries for March. TrueCar, Kelley Blue Book, and LMC Automotive are predicting total vehicle sales slightly above the flat-line compared to March a year ago, though sales were down year-over-year in both January and February.

Mar 27 12:58

Banks Are Crashing

Party's over...

With the yield curve flatter than before Trump's election, and rates collapsing, reform was the last best hope for bank bulls...

Mar 27 12:58

Dollar Collapse Continues - Over 80% Of Post-Trump Gains Gone

When the dollar was soaring, it was 'unequivocally' a reflection of the strength (or potential strength) of the US economy and its safe-haven, cleanest-dirty-short status. Since The Fed hiked rates for the 3rd time in 11 years, however, the dollar has done nothing but decline...

Erasing over 80% of post-Trump gains...

Mar 27 12:37

Real Americans RUSH to get employment after a local resort gets rid of ILLEGAL Aliens! Georgia

Chateau Elan, Georgia, is filling many positions after firing illegal
alien workers and is now hiring American workers to replace the fired
illegal immigrants.

Mar 27 10:55

ALERT Trump is Going Full Keynesian

"Priming the pump" is one of the scariest economic programs you can hear promoted by a president.

Mar 27 10:14

Trump Budget Has Some Good Cuts… But it raises spending on the merchants of death…

It’s interesting that Trump & Co. have cut funding for US allies, culture, education, the poor, and just about everything else except the Pentagon and Israel. Not a penny was reduced from Israel’s recent grant of $38 billion in arms spending over ten years. Not a peep about this from Congress or Trump. An honest war tax would show Americans the real cost of their imperial adventures and spare their children from having to pay for such dumb wars as Afghanistan and the Mideast.

Mar 27 09:49

Two Trends That Will Force The Fed To Start Buying Stocks

While the Japanese and Swiss central banks have turned themselves into hedge funds by loading up on equities, the US Fed has stuck to supporting the stock market indirectly, by buying bonds. It’s worked, obviously, with all major US indexes at record highs. But it won’t work going forward, thanks to two gathering trends.

Mar 27 09:24

EU SET TO TOUGHEN UP CAPITAL CONTROLS IN GREECE, AS THINGS GO FROM BAD TO CATASTROPHIC IN EU MEMBER STATE

It is not common knowledge (as the EU tries to suppress news that sheds light on the misery of being an EU member state), but Greek citizens have been living with capital controls since 2015.

What does this mean? Simply put it means that Greek people, EU citizens, cannot withdraw more than a designated amount of cash from their own bank accounts.

In the case of Greece, you can only withdraw €840 every two weeks from a bank ATM or in person at a bank teller. If you wish to withdraw more than the designated €840, then you need special permission to access your money held at the bank of your choice.

It was supposed to be a temporary safeguard to avoid capital flight amidst a pathetic Tsipras driven EU revolt, but the capital controls remain to this day and now news is trickling in that the controls will not only last longer, but may even toughen up.

Webmaster's Commentary: 

I, personally, am waiting for the intelligent political leaders to pull an "Iceland", declare the country's debt "odious", and put the banksters and politicians into hard jail time for the misery and pain they have collectively inflicted on the Greek people.

Mar 27 09:14

Subprime auto loans face mounting problems: With $1.1 trillion in loans outstanding we all know bad deals are made in good times.

Exuberance breeds bad decisions as inhibitions and due diligence get tossed out the window like dirty water. This is exactly what is unfolding in the rampaging auto market. The latest data from Fitch Auto ABS Indices shows that 60+ day delinquencies for subprime loans are now at 5 percent of all outstanding balances. This is the highest it has been since 2008 when the financial crisis was wrecking havoc on global markets. The issue we have today is that auto loan standards are deep in the toilet. Essentially what happened in the housing market with no-doc and no-income loans is happening with the auto sector. Part of this has to do with the pressure being seen in the industry since new cars are simply built much better and can last a long time. So dealers hustle out late model used cars which eat into new car sales. So incentives are the name of the game and when incentives end you simply start giving out loans to anyone with a pulse.

Bad loans are made in good times

Mar 27 09:05

Condo Flippers in Miami-Dade Left Twisting in the Wind

Ballooning Condo Glut ensnares preconstruction speculators.

Mar 27 08:25

PARKINSON’S LAW ALSO APPLIES TO THE PENTAGON

Back in the 1950’s, a British professor at the distinguished University of Malaya, C. Northcote Parkinson, observed that as the post-war Royal Navy shrank in size, its bureaucracy continued to expand.

Parkinson formulated a law that bureaucracies will naturally grow at 5-7% per annum. He also wisely added ‘Make the people sovereign and the poor will use the machinery of government to dispossess the rich.’

All bureaucracies, public and private, must be periodically forced on a diet. US President Donald Trump is, as promised, taking an axe to Washington’s dense bureaucratic undergrowth. He claims the cuts will save $2.5 trillion over ten years.

Mar 27 07:55

Fannie and Freddie’s New Bubble

Fannie Mae and Freddie Mac still have housing blood on their hands from the 2008 financial crash. However, the giant GSEs, placed in government conservatorship in September 2008, have now, virtually all by themselves, created another bubble, this time in the multifamily rental market.

Mar 27 07:45

Subprime Auto Loans Crushed Worse than in 2009, Auto Industry Bleeds, Knock-on Effects Commence

After the credit bubble comes the credit bust.

Mar 27 06:38

Poundland's 99p Stores fall into administration: 60 shops across the UK to SHUT

HIGH street chain 99p Stores is to shut, after the Poundland-owned company fell into administration.

Mar 27 06:20

Top European banks profited €25bn from tax havens last year

A report by Oxfam suggests Europe’s largest banks have registered over a quarter of their profits in offshore tax havens last year. The continent's top 20 lenders avoided paying tax on an estimated €25 billion, the study finds.

The report follows increased international scrutiny of corporate tax avoidance.

The lenders paid no tax on profits of €383 million posted in seven tax havens last year while booking earnings of €4.9 billion in Luxembourg – more than they did in the UK, Sweden, and Germany combined.

In 2015 European banks posted at least €628 million in profits in tax havens where they employ nobody, Oxfam reported. Luxembourg and Ireland are the most favored tax havens, accounting for 29 percent of the profits banks posted offshore in 2015.

Mar 27 04:45

Debt limit looks like a real struggle after health bill debacle

"We've spent the money , I think everybody understands the debt limit
(* http://www.heritage.org/debt/report/2017-debt-limit-should-trigger-spe... )
is a somewhat of a ridiculous concept
I am hopeful this is something the congrrss addresses before the summer break
I think everybody understands we need to raise the debt limit , and that is something we're going to do"
Secratary of the Treasury Steven Mnuchin

Mar 27 02:11

Italy/Spain/EU/USA at the Grim Edge of a Global Problem

This trend is not your friend.

Mar 26 18:12

Spain's EU exit on horizon as ‘only a miracle’ can save nation from debt bubble BURSTING

SPANISH university professors and economists are calling on Prime Minister Mariano Rajoy to come clean over its debt burdens as calls for the country to leave the European Union (EU) grow.

And they say it is absolutely essential that the People's Party-led government immediately produce accurate figures over the country's GDP as debt burdens weigh on hardworking families.

The average Spanish family is crippled with £118,000 (€136,000) in debt brought on by years of mismanagement, it has been warned.

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