ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 02 14:21

The Great Unwind Grips the 12 Hottest US Rental Markets

Peak Rent. Traces of relief for renters. Landlords scramble. But in cheaper cities, rents soar.

In April, asking rents for two-bedroom apartments declined from their respective peaks in all of the 12 most expensive rental markets in the US, ranging from a tentative 1.3% down-tick in Los Angeles to an 18.9% plunge in Chicago.

May 02 14:10

Billionaire Investor Paul Tudor Jones Says Stock Market Valuation Is “Terrifying” And He Is Right

We live in a unique time. Never before have the markets gone to such extremes in almost every way imaginable.

Not just the markets either. Nearly everything.

May 02 14:07

The U.S. Political Scene: Whiteness And The Legitimacy Crisis Of Global Capitalism

The U.S. political scene has been undergoing a facelift in an effort to restore the decreasing legitimacy of the transnationally-oriented capitalist class. This transformation has been characterized by a right wing that has sought to portray itself as economically nationalistic in an attempt to expand support among the working class (primarily, among working class whites) whose economic stability has dwindled during the neoliberal era.

May 02 12:03

Rickards: It’s time to start preparing for the collapse

Trump unveiled his tax plan last week. Part of his agenda calls for a reduction of the corporate tax rate from 35% to 15%.

It’s unclear at this moment what the final result will be after all the negotiations and political horse trading that will inevitably take place.

May 02 11:55

30Y Treasury Yield Drops Back Below 3.00% As Economic Data Implodes

Following the recent trail of disastrously disappointing 'hard' and 'soft' macro data...Today's slew of narrative-crushing auto-sales misses has hit stocks and bonds, sending 30 Y Yields back below the all-important 3.00%...

Webmaster's Commentary: 

I don't know about the mainland, but car sellers here on Oahu are doing ridiculous deals to try to get product moving, which - by the prices for purchasing, or leasing, a new car - they are not able to do.

People are just tapped out, and trying to keep their old jalopies working for just a little longer, when things are supposed to get better.

The problem is, looking at the economic analyses I have posted from zerohedge.com this morning, things seem to be getting worse for most Americans, and it is a disturbing trend.

May 02 11:49

Is This The Scariest Chart In The World Now?

The scariest chart in the world this week, indeed this month, comes from the US... and plots U.S. real GDP growth.

But... the really scary stuff is longer-term trend in U.S. growth. And that is illustrated in the chart below:

Look at the grey bars: these take periods of expansion in the U.S. economy and average rates of growth over these periods. Notice the pattern? Why, yes, the average expansion-consistent rates of growth have fallen, steadily, since 1975 through today. Worse, controlling for volatile growth (average rates) in pre-1975 period, an exponential trend for average expansion-consistent growth rates (the yellow line) is solidly trending down.

The latest period of economic expansion is underperforming even that abysmal trend. And 1Q 2017 is underperforming that worse than abysmal average.

May 02 11:36

America’s Rapacious Aristocracy and World War III

What America’s aristocrats, the individuals who control the U.S.-headquartered international corporations, are more concerned about than anything else, is dominating the world. This motivation is consistent with the empirical findings in Social Psychology and Personality Psychology, that the richer a person is, the more psychopathic he/she tends to be.

If you’re a billionaire, then getting tax-write-offs and university buildings named after you for ‘philanthropy’ will be fine, but your real obsession will be to win, to dominate everything — by hook or by crook, and no matter what, but this is for real, it is none of the mythology. It’s no different in today’s America than it was in Nazi Germany.

It’s an international gangland operation, and the local aristocracy has adjudged that its best chances for being with the winner will be for their country to buy U.S. weaponry and otherwise to be allied with the U.S. gang.

May 02 11:06

Missouri Medical School Punished For “Too Many Whites”

Columbia-based University of Missouri School of Medicine has been threatened with losing its accreditation status next year because it is too white, according to a new report by the Liaison Committee on Medical Education (LCME).

May 02 11:06

Contagion: Home Capital Bank Run Spreads To Another Canadian Mortgage Lender

Predictably, the news of the ongoing bank run once again spooked shareholders, who sent its stock sliding by 10%, and wiping out two-thirds of the company's market cap in under 2 weeks.

May 02 11:06

45% Of Americans Spend Up To Half Their Income Repaying Credit Card Debts

On several occasions we've pointed out that the baby boomer generation is, to put it mildly, ill-prepared for retirement. In fact, over 50% of baby boomers have basically no savings set aside for retirement at all. Now, a new survey from Northwestern Mutual helps to shed some light on why Americans are completely incapable of saving money.

First, roughly 50% of Americans have debt balances, excluding mortgages mind you, of over $25,000, with the average person owing over $37,000, versus a median personal income of just over $30,000.

May 02 10:53

OPEC Deal Backfires: Saudis Lose Market Share To Iran, Iraq

Since the start of OPEC’s production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly eating up some of the cartel’s global market share while the cuts last.

May 02 10:50

Brawny Paper Towel Goes Full Libtard in New Ad Campaign

May 02 09:47

'Trump Slump': President's rhetoric and travel ban repel millions of tourists to USA

US President Donald Trump's rhetoric about building a wall along the Mexico-US border, repeated attempts to ban immigrants from predominantly Muslim countries and a loud "America First" stance is putting off international tourists from planning holidays to the country.

Projections by Pennsylvania, US-based Tourism Economics (TE), an affiliate of UK research and analysis outfit Oxford Economics, suggest the US could see 4.3m fewer international tourists equating to a revenue loss of $7.4bn (£5.73bn).

Webmaster's Commentary: 

I do not think it is fair to lay the blame for the slump in tourism totally on Trump. The TSA's abuse along with cash seizures by Police from innocent travelers has also harmed our tourism industry.

May 02 09:30

Lab-Grown Meat Coming to Supermarket Shelves Soon?

If this Silicon Valley food-tech startup has its way, its lab-grown meat—which includes chicken, duck and beef—will be on a supermarket shelf near you within the next five years.

“[We’re] trying to put products on the shelves by 2021/2022,” Uma Valeti, Memphis Meats co-founder and CEO, tells FOX Business.

In March, the company announced that it created the “world’s first chicken strip from animal cells,” following their animal-free meatball debut in 2016. Lab-grown beef was previously developed in 2012 by a group of Dutch scientists.

“Essentially, we are taking a number of animal cells, giving them clean and nutritious food and then we watch them grow into a muscle. We harvest that muscle and then cook it,” Valeti says.

The whole process from start to finish takes about four to six weeks, depending on the texture. Valeti says the company’s current main goal is to raise capital and lower their production costs, in order to quickly bring the product to market.

Webmaster's Commentary: 

Humankind has eaten meat for a very, very long time, but there may be a point, economically, where this will not be economically feasible for a lot of people.

Here on Oahu, even with the leanest, and cheapest cuts, the price points here are....pretty terrible, even for the cheapest ground beef available.

But before this is allowed to be put into the market place, and "blessed" by the FDA, I want to see long term health studies on the bodies of meat-eating animals, to insure that this stuff is really safe for humans.

May 02 09:24

Tucker Carlson Asks Immigrant Rights Activist Why He's Shilling For The Chamber Of Commerce

Why is it the left that claims to fight for higher wages and workers' rights now shills for open borders globalism and free trade?

That's the question Tucker Carlson asked immigrant rights activist Steven Choi on his show Monday.

May 02 09:21

As Expected, A 'Bipartisan' Budget...More Spending!

No, the government is not going to close down. It's all a ruse. The budget "crisis" was solved by agreeing on a 1,600 page bill that spends more on the military and more on government programs at home. There's something in it for politicians of almost every stripe. The Russian "threat"? Don't worry! There's $100 million for a fun to counter "Russian propaganda" in Europe. Terrorism? There's a $15 billion appropriation to fight terrorism. Don't worry that Washington's interventionist foreign policy is the primary cause of terrorism. Just spend!

May 02 09:12

London Property Bubble Vulnerable To Crash

UK’s Land Registry data for three London boroughs shows transaction volumes in London — the number of houses being bought and sold — are at an all-time low. Back in December asking prices in London dropped 4.3% in December with inner London down 6%, more exclusive areas dropped by as much as 10%.

The slump continued into the first quarter this year, a survey by the Royal Institution of Chartered Surveyors found that more agents than not reported price drops in March. London is now one of the five-slowest growing cities in the UK.

London property has for some time had many of the signs of a bubble. However, it is always very hard to pinpoint when a bubble might burst. We are certainly seeing signs that the overheated market is beginning to cool. Of course, all ‘good’ things must come to an end, but what is driving this particular scenario?

May 02 09:11

Congress' new spending bill includes $100M to counter Russian information operations

At least $100 million in funding specifically to counter Russian information operations will be available under a newly unveiled spending bill to keep the U.S. government running until the end of September.

May 02 09:09

45% OF AMERICANS SPEND UP TO HALF THEIR INCOME REPAYING CREDIT CARD DEBTS

On several occasions we've pointed out that the baby boomer generation is, to put it mildly, ill-prepared for retirement. In fact, over 50% of baby boomers have basically no savings set aside for retirement at all. Now, a new survey from Northwestern Mutual helps to shed some light on why Americans are completely incapable of saving money.

First, roughly 50% of Americans have debt balances, excluding mortgages mind you, of over $25,000, with the average person owing over $37,000, versus a median personal income of just over $30,000.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

May 02 09:01

11 REASONS WHY US ECONOMIC GROWTH IS SO BAD

Those that were predicting that the U.S. economy would be flying high by now have been proven wrong. U.S. GDP grew at the worst rate in three years during the first quarter of 2017, and many are wondering if this is the beginning of a major economic slowdown. Of course when we are dealing with the official numbers that the federal government puts out, it is important to acknowledge that they are highly manipulated. There are many that have correctly pointed out to me that if the numbers were not being doctored that they would show that we are still in a recession. In fact, John Williams of shadowstats.com has shown that if honest numbers were being used that U.S. GDP growth would have been consistently negative going all the way back to 2005. So I definitely don’t have any argument with those that claim that we are actually in a recession right now. But even if we take the official numbers that the federal government puts out at face value, they are definitely very ugly…

May 02 08:45

Cloquet match mill to close; 85 to lose jobs

Cloquet’s match and toothpick factory is closing, and 85 people will lose their jobs there as a result, owner Newell Brands announced Monday.

The plant produces Diamond matches and toothpicks, a business that New Jersey-based Newell sold last month to Georgia-based Royal Oak Enterprises LLC. The new owners of the brand decided not to take the Cloquet operation with them.

“Newell Brands will no longer retain Diamond matches and toothpicks, which are manufactured at the facility,” according to a company statement. “As a result, the company has made the difficult decision to close the Cloquet facility, which is expected to occur within six months.”

May 02 08:45

Iran’s Economic Recovery Surprised Us All

“Generally speaking, America is not keen on independent countries. America is not keen on people’s freedom. America is keen on countries that completely surrender themselves.” – Iran’s Rouhani

May 02 08:37

Interns at these 25 companies make more than the median U.S. worker

According to a new report by the jobs site Glassdoor, the 25 best-paying companies for internships each pay their median summer worker more than $4,500 a month. That amount, if it was paid over the course of a full year, would be north of $54,000, exceeding the median annual pay for a U.S. worker, according to Glassdoor's own local pay reports ($51,350), and the annual figure calculated from the Bureau of Labor Statistics' latest weekly earnings data for full-time wage and salary workers ($44,460).

Topping the list was Facebook, where the median pay for interns is $8,000 a month, according to the reports from the newest analysis. That's $1,800 more than the $6,200 the social media giant reportedly paid interns when Glassdoor last issued its last highest paying internship report, in 2014. The next three were Microsoft (which pays a median $7,100 a month), ExxonMobil ($6,507) and Salesforce ($6,450).

May 02 07:49

$1 Trillion Time Bomb: Are American Consumers Getting in Trouble Again?

The economy depends on them, but they’re cracking.

May 02 07:34

Puerto Rico to File Largest Public Sector Bankruptcy in History

The U.S. territory made its last-ditch offer to try to avoid a May 1 bankruptcy filing, but failed to negotiate a financial restructuring that would force creditors to take a 23 percent loss on their general obligation bonds and a 42 percent loss on their Cofina sales-tax-backed debt, according to EMMA, the Municipal Securities Rulemaking Board website.

May 01 20:13

Why Germany Still Uses the Deutsche Mark

So the Brits aren't the only ones who lacked confidence in the EU Project from the start?

According to the 2012 source article, the Deutsche Mark is still in circulation in Germany to the tune of 13.2 billion DM, or roughly 6.6 billion in today's Euro assuming no more DM has been printed or destroyed. Born2Invest.com says that as of 2015, there are 12.9 billion DM in circulation [Coinmill.com will show you the exchange rate as of 5/2/2017].

Britain must have seen some problem with entering the Eurozone, so they kept the lb. as their currency. Did Germany see the same thing and keep the DM alive as a lifeboat?

Maintaining the DM as an exchangeable currency allows the Germans to circumvent a lot of legal ballyhoo if they leave the Eurozone. This is my theory for why the DM was never made defunct.

May 01 18:08

Martin Armstrong: Stocks could DOUBLE from here!

Martin discusses his views on the U.S. Dollar and the future of the European Union. Martin discusses his bullish case for U.S. stocks and considerations for international money flows. They discuss future interest rate trends, government debt, the geopolitics of North Korea and Syria and considerations on China and the debt crisis.

May 01 15:33

Tech Wreck Coming

Wall Street seems to be in the middle of a new bubble, even wilder than the last one.

In the bubble of the late 1990s, dot-coms with no proven ability to earn money sold equity worth billions of dollars.

Investors told themselves that the dot-coms would be hugely profitable. Most of them never were profitable at all. In March 2000, their stock prices collapsed.

May 01 13:49

Danielle DiMartino Booth: The biggest theft in all of human history?

Danielle DiMartino Booth joins Glenn to discuss why the Federal Reserve System is bad for America …The biggest theft in all of human history?

May 01 13:20

International Workers' Day: Profitable Work Will Be Automated, The Rest Will Be Left To Us

Everyone wants an abundance of "good paying" jobs, but employers can only afford to pay employees if the work being done is profitable.

What's abundant and what's scarce? The question matters because as economist Michael Spence (among others) has noted, value and profits flow to what's scarce. What's in over-supply has little to no scarcity value and hence little to no profitability.

May 01 12:45

CONFIRMED: OBAMA USED PROFITS FROM FANNIE AND FREDDIE MAE TO SUBSIDIZE OBAMACARE

This has been rumored to be true for a long time now. Independent investigators pondered as to where the Obama Administration found the money to keep Obamacare alive. The profits of both Fannie and Freddie Mae were widely suspected in having played a role. Now we know that it’s true, according to Sec. Mnuchin.

May 01 10:48

A Chinese Factory Slave Explains Why Manufacturing Jobs Are Never Coming Back To America No Matter What President Trump Says by Mac Slavo

While we all loved President Trump’s campaign pledge to bring jobs back to America, there are powerful economic forces at work that suggest the shift to cheap labor is pretty much irreversible. Yes, Trump has spoken with the leaders of some of America’s biggest companies and he’s been successful at getting those chief executives to commit to creating or keeping a few thousands jobs here and there, but when you consider that the competing foreign labor force primarily responsible for manufacturing America’s consumer goods numbers in the hundreds of millions of people, the notion that we’re somehow going to see explosive manufacturing growth over the next four or eight years is nothing more than a pipe dream.

But don’t take it from us. A Chinese factory worker explains exactly why we have absolutely no way to compete with the near slave-like conditions found in foreign factories:

Webmaster's Commentary: 

Some jobs are coming back, but many will not come back to the US, or if they do, will be handled by robots.

May 01 10:35

Ron Paul Warns "We Are In The Last Stages Of The Welfare-Warfare State"

Congress ended the week by passing a continuing resolution keeping the government funded for one more week. This stopgap funding bill was designed to give Congress and the White House more time to negotiate a long-term spending bill. Passage of a long-term spending bill had been delayed over objections to Republican efforts to preserve Obamcare's key features but give states a limited ability to opt out of some Obamacare mandates...[ZH: that longer-term bill has been agreed with the Democrats]

May 01 10:31

Economic Reality: Bottom 50% Of Americans No Longer Matter

As long as the Fed can keep stocks and home prices elevated, there is no concern about the food-stamp, rent-subsidized, Medicaid-supplement, disability-income, Obamacare-subsidized 50% of Americans struggling paycheck-to-paycheck.

That money rolls in guaranteed, month after month!

That 50% cannot afford a house is irrelevant as long as suckers keep paying $500,000 to two-bedroom shacks in LA.

The game is to keep asset prices up so that the top 50% keep spending. The bottom 50% are taken care of by government (taxpayer) subsidies noted above.

Here’s the real deal: Fed Expects a Second Quarter Rebound, Higher Equity Prices.

Repeat Performance

The Fed needs to keep asset prices elevated even though it’s pretty clear concerns are mounting over bubbles.

Can the Fed save the world again?

Previously, the bottom third did not matter. Then the bottom 40% did not matter. Now the bottom 50% do not matter.

May 01 10:04

Petrodollar Faces Growing Threat From the East. Payments in Gold Across Asia

While the recent raft of Sino-Saudi trade agreements benefited Chinese soft power in protecting Xinjiang, and the Saudis by diversifying their economy, China’s slow intertwining with Saudi Arabia complements the Sino-Russian alliance. Primarily, its benefits could lead to a realistic threat to the petrodollar.

The Persian rival who showed the way

In 2012/2013, the US Treasury Department, under the Obama administration, initiated a raft of sanctions in an amateurish fashion against the Central Bank of Iran. As we were told, it was done to tire and bleed Iranian economic and social life enough to draw Tehran into negotiations concerning its nuclear programme. The argument of were they/weren’t they pursuing a weaponized nuclear program isn’t important; how the Iranians circumvented these sanctions is.

Webmaster's Commentary: 

Is this why we are seeing more and more demonization of Iran, to prevent it from finding more loopholes in US sanctions, and trading in a real commodity, rather than the dollar, which has absolutely no real backing behind it?!?

May 01 09:47

The Numbers are Staggering: U.S. is ‘World Leader’ in Child Poverty

America’s wealth grew by 60 percent in the past six years, by over $30 trillion. In approximately the same time, the number of homeless children has also grown by 60 percent.

Financier and CEO Peter Schiff said,

“People don’t go hungry in a capitalist economy.”

The 16 million kids on food stamps know what it’s like to go hungry. Perhaps, some in Congress would say, those children should be working.

“There is no such thing as a free lunch,” insisted Georgia Representative Jack Kingston, even for schoolkids, who should be required to “sweep the floor of the cafeteria” (as they actually do at a charter school in Texas).

The callousness of U.S. political and business leaders is disturbing, shocking. Hunger is just one of the problems of our children. Teacher Sonya Romero-Smith told about the two little homeless girls she adopted:

“Getting rid of bedbugs, that took us a while. Night terrors, that took a little while. Hoarding food..”

Webmaster's Commentary: 

Absoflippinglutely unbelievable, and should be totally unacceptable to an allegedly civilised society!!

May 01 09:15

Ron Paul Warns “We Are In The Last Stages Of The Welfare-Warfare State”

The breakdown of the congressional appropriations process, combined with hyper-interventionism via the Federal Reserve and foreign policy, suggest we are in the last stages of the welfare-warfare state. Whether this system’s inevitable collapse completes our descent into authoritarianism or leads to a restoration of limited, constitutional government and free markets depends on how effective those of us who know the truth are in spreading the ideas of liberty.

May 01 08:53

ROTHSCHILD BANK NOW UNDER CRIMINAL INVESTIGATION AFTER BARON DAVID DE ROTHSCHILD INDICTMENT

Last year, Baron David de Rothschild was indicted by the French government after he was accused of fraud in a scheme that allegedly embezzled large sums of money from British pensioners.

It has taken many years to bring this case against Rothschild and his company the Rothschild Financial Services Group, which trapped hundreds of pensioners in a bogus loan scheme between the years of 2005 and 2008.

One by one the pensioners lost their money and pressed charges against the notorious banker, beginning a case that would take many years to get even an indictment.

In June, Paris-based liaison judge Javier Gómez Bermudez ruled that Rothschild must face a trial for his crimes, and ordered local police to seek him out in his various mansions that are spread throughout the country.

Webmaster's Commentary: 

By now, Baron David de Rothschild is probably living it up in yet another mansion he owns, in a country which does not have an extradition treaty with France.

May 01 08:45

Venezuela's Maduro Arms Loyalists To PURGE Opposition! - THIS Is Why The Second Amendment Exists!

Josh Sigurdson reports as Nicolas Maduro, Venezuela's socialist dictator arms his loyalists in the Bolivarian Militia to purge opposition.
In recent months, Maduro has had his opposition in government imprisoned, while millions hit the streets and riot. The people of Venezuela have been forced into bread lines as hyperinflation grips the country due to massive currency printing, devaluation and debt.

May 01 08:43

THIS IS WHAT A BANK RUN LOOKS LIKE: HOME CAPITAL LOSES 70% OF DEPOSITS IN ONE WEEK

In the beginning it was a slow pace, then it became a casual jog. Then, starting early last week, the jog morphed into a full-blown run, and - as of the past 3 days - the withdrawal of deposits at Home Capital Group's high interest savings accounts has mutated into a full blown mad dash not to be the last person to have their money at what is now an effectively insolvent alternative lender.

According to HCG's latest press release this morning, the "less than prime" Canadian mortgage lender held HISA deposits of only $391 million as of Monday, May 1; this is down C$130 million from Friday, or a reduction in the total amount by 25%. It is also down 72% from the C$1.4 billion reported one week ago.

For those who need to think all the way back to the third Greek bailout of 2015 to recall what a bank run looks like, here is what the deposit situation at HCG has looked like over the past month.

Webmaster's Commentary: 

This may well be the proverbial "canary in the the coal mine" for other lending institutions in Canada, and may be the start of a contagion which cannot be contained.

May 01 08:35

The Trump Tax Plan: More Money for the Oligarchs

In presenting the administration’s tax plan at a White House press briefing on Wednesday, Trump’s top economic advisers, Gary Cohn (net worth $610 million) and Steven Mnuchin ($500 million), both former Goldman Sachs bankers, could barely contain their glee over the prospect of a massive transfer of wealth to themselves and their fellow oligarchs.

Webmaster's Commentary: 

Trump's tax plan is merely re-arranging the deck chairs on the Titanic. Unless the wealth is recycled from the top back down to the working and middle class for them to pour back into the economy, the economy, already down by the bow and taking water, is doomed!

May 01 08:27

Economic Reality: Bottom 50% Of Americans No Longer Matter

The Fed likes to brag about the “We saved the world” recovery. However, the unfortunate truth of the matter is a record Half of American Families Live Paycheck to Paycheck. Does it Matter? Let’s investigate.

May 01 08:12

Future World Economic Growth In Big Trouble As Oil Discoveries Fall To Historic Lows

Future global economic growth is in serious trouble as oil discoveries fell to historic lows last year. The International Energy Agency (IEA) reported that the sharp downturn in capital spending by the conventional oil industry was due to extremely low oil prices.

As the oil price fell to $30 in 2016, oil companies cut their exploration and capital expenditures by 25-40%. For example, ExxonMobil, the largest oil company in the United States, cut their capital expenditures by 26% in 2016, from $26 billion in 2015 to $16 billion last year. This had a profound impact on new oil discoveries.

May 01 07:47

A Tax Cut Big Enough To Save the Economy (May kill it instead, says Peter Schiff)

Donald Trump has made good on one of his most audacious campaign promises by submitting what he describes as the biggest tax cut in U.S. History. For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

May 01 07:20

BILLIONAIRES SET TO DESCEND UPON BEVERLY HILLS TO ASSESS THE TRUMP PRESIDENCY

Back in the early 90’s, Michael Milken was in prison for securities fraud. Now he’s on top of the world again — hosting, for the 20th year, a very high brow conference for the elite. This week, the Milken Institute Global Conference will host 4,000 of the wealthiest and most influential people in the world. Amongst Trump’s representatives include Treasury Sec Mnuchin, Commerce Sec Wilbur Ross, Education Sec Betsy Devos and Sec of Transportation Elaine Chao.

May 01 05:27

It Is Becoming Illegal To Be Homeless In America As Houston, Dallas And Dozens Of Other Cities Pass Draconian Laws

Should we make homelessness against the law and simply throw all homeless people into prison so that we don’t have to deal with them? Incredibly, this is actually starting to happen in dozens of major cities all across the United States.

May 01 05:06

ROTHSCHILD BANK NOW UNDER CRIMINAL INVESTIGATION AFTER BARON DAVID DE ROTHSCHILD INDICTMENT

Last year, Baron David de Rothschild was indicted by the French government after he was accused of fraud in a scheme that allegedly embezzled large sums of money from British pensioners. It has taken many years to bring this case against Rothschild and his company the Rothschild Financial Services Group, which trapped hundreds of pensioners in a bogus loan scheme between the years of 2005 and 2008.

May 01 05:05

ARE AMERICAN DEBT SLAVES GETTING IN TROUBLE AGAIN?

American consumers are holding $1 trillion in revolving credit, mostly in credit card debt. So how well is this segment of consumer debt holding up? Synchrony Financial – GE’s spin-off that issues credit cards for Walmart and Amazon – disclosed on Friday that, despite assurances to the contrary just three months ago, net charge-off would rise to at least 5% this year. Its shares plunged 16% and are down 27% year-to-date.

Apr 30 22:06

Trumps Tax plan, reduces part-time slavery

Why on earth would you want more money to be taken away from production and given to destruction? Giving more money to government does not hep the poor. It's stealing form one guy to murder another one so of course liberals love it.

Apr 30 19:40

Trump's trillion dollar deal: Congress agrees to spend $15bn more on the military and $1.5 billion on enhanced border security - but no border wall - in spending bill to avoid shutdown

Top Capitol Hill negotiators reached an agreement on a huge $1 trillion-plus spending bill that avoids a government shutdown, aides said on Sunday.

The deal means virtually all the day-to-day-operations of the federal government will be funded until September.

Apr 30 17:02

Blow to savers as Premium Bond prizes are slashed by £7m

National Savings & Investments has axed an estimated 48,000 prizes this month, while cutting more than £7million from its prize pot.

Two £1million prizes remain but the estimated number of £100,000 prizes is set to fall, alongside the £25,000 and £10,000 prizes.

The biggest change will be the reduction in £100 and £50 prizes which will be slashed by two-thirds.

Apr 30 16:58

Scandal of £15M taxpayers’ cash WASTED in anti-smoking classes in CORRUPT countries

A FRESH foreign aid row erupted yesterday after it emerged that Britain was paying for anti-smoking classes in some of world’s most corrupt countries.

In a move branded “astonishing”, the Department of Health is giving £15million in taxpayers’ money to a host of regimes with appalling human rights records. Critics said taxpayers’ cash was being “handed out like confetti” at a time the NHS faced the worst funding crisis in its history.

The money will go to countries where political unrest is rife as part of the foreign aid budget.

Those set to receive the antismoking cash include Cambodia, Chad, Colombia, Egypt, El Salvador, Georgia, Jordan, Madagascar, Myanmar [Burma], Nepal, Samoa, Sierra Leone, Cabo Verde, Sri Lanka and Zambia.

Apr 30 12:42

Economy “Surprises” to Downside, Growth Near Zero. Atlanta Fed GDPNow Forecast just about Nailed it

Lousy consumer spending & the “weather.” Inflation hits Fed target.

The US economy surprised economists to the downside once again, a terrible habit it has picked up over the past years. GDP adjusted for inflation inched up only 0.7% “compound annual rate of change.” This means that if the economy keeps growing at this rate for four quarters in a row, economic growth for the entire year would only be 0.7%.

Apr 30 09:51

Panic bank run leaves Canada’s largest alternative mortgage lender on edge of collapse

After two years of recurring warnings (both on this website and elsewhere) that Canada’s largest alternative (i.e., non-bank) mortgage lender is fundamentally insolvent, kept alive only courtesy of the Canadian housing bubble which until last week had managed to lift all boats, Home Capital Group suffered a spectacular spectacular implosion last week when its stock price crashed by the most on record after HCG revealed that it had taken out an emergency $2 billion line of credit from an unnamed counterparty with an effective rate as high as 22.5%, indicative of a business model on the verge of collapse .

Apr 30 09:24

Mike Maloney - Bond, Stock and Real Estate Markets Are Insane, China, Russia & India Buying Gold

Precious metals expert Mike Maloney points to what large foreign countries are buying and it gold--lots of it. Maloney explains, says, “Between Russia, China and India, their purchases meet or exceed all worldwide production of gold. Whenever they exceed mining supply, the supply has to come from somewhere, and it’s coming from the West. When the dust settles, the East is going to be very wealthy, and the West is going to be poor.”

Apr 30 06:47

The Fed Goes All In To Crash The Economy

South Korea goes cashless, they are getting rid of coins. Consumer confidence steady despite all the bad news. US spending way down, this makes up 70% of the economy, but American's are buying RV's.

Apr 30 06:32

Great Again? GDP Growth Slows as the Donald Runs into Reality

Looking back on his first 100 days in office, President Trump is realizing that the reality of running the world’s largest economy, biggest and baddest military, and likely most politically divided country in the world right now is much more of a headache than he imagined on the campaign trail.

Apr 29 15:09

The Confidence Game – The Next Crisis

Apr 29 09:14

The High U.S. China Trade Deficit; Does This Indicate A Deformed Trading Relationship Between U.S. And China?

A trade deficit occurs when an economy imports more than it exports. If this persists, it will eventually cause a shift in the exchange rate, making imports more expensive and–crucially–exports cheaper as the "invisible hand" of the price mechanism brings trade back into balance.

Apr 29 08:31

Donald Trump says he's avoided New York City because it's expensive for US

President Donald Trump says he hasn't returned to his New York City home because "going back is very expensive for the country."
Trump tells Fox News in an interview Friday that he feels "guilty" when he returns to Trump Tower because authorities close surrounding streets and "I hate to see the New Yorkers with streets closed."

Apr 28 21:07

Trump tough on South Korea: Threatens to terminate free trade deal, wants payment for THAAD missile defense system

President Donald Trump said that he will either renegotiate or terminate a "horrible" trade deal with South Korea, Reuters reported late Thursday.

The president also said he wants South Korea to pay for the $1 billion THAAD missile defense system, Reuters said.

Responses to Trump's comments soon arose, with an official from South Korea's automakers association telling Reuters that the group is now concerned about "the uncertainty" of the free trade agreement.

Shares in Hyundai Motor fell as much as 2.4 percent following Trump's comments. South Korea's won turned weaker on the comments.

Apr 28 17:03

Former Central Banker Just Signaled That The Economy Is About To Crash

The Canadian housing market is popping their is already a bailout to save a mortgage company. Initial jobless claims inch up. Consumers are tapped out, credit defaults on the rise. P

Apr 28 12:00

When 'Sunshine' Ruled on the Korean Peninsula

Before South Korea’s conservative presidents severed ties with North Korea from 2008, their liberal predecessors Kim Dae-jung and Roh Moo-hyun promoted peaceful engagement and rapprochement, an approach called the “sunshine policy.”

The name stemmed from an ancient Greek fable where the wind and the sun competed to remove a man’s cloak. No matter how strongly the wind blew, the man only wrapped his cloak more tightly to keep warm. But when the sun shone, the warmth made him take his cloak off. The wind symbolized unsuccessful coercive policies toward North Korea and the sun stood for an approach able to persuade North Korea to take off its anachronistic and uncomfortable cloak, changing at last.

Apr 28 10:23

CRISIS & CHAOS IN VENEZUELA - People Demand Food, Medicine & Elections

As the opposition and the government clash in the streets of Caracas, Venezuelans have reverted to survival mode. Early elections demanded

The latest wave of protests was triggered by a Supreme Court decision on 29 March to take over powers from the opposition-controlled National Assembly. The national government, through the central bank, is going to try to swap gold held as reserves for dollars to stay in power unconstitutionally,” said one letter sent Thursday to John Cryan, the CEO of Deutsche Bank. “I have the obligation to warn you that by supporting such a gold swap you would be taking actions favoring a government that’s been recognized as dictatorial by the international community.”

Apr 28 09:16

Cancer Drugs Fund 'huge waste of money'

The Cancer Drugs Fund in England was a "huge waste of money" and may have caused patients to suffer unnecessarily from the side effects of the drugs, according to UK researchers.

The fund ran from 2010 to 2016, costing £1.27bn, following an election promise made by the Conservatives to pay for cancer drugs the NHS was not funding.

The researchers found only one in five of the treatments was of benefit.

Apr 28 09:15

Sanctions War: Russia Loses $50Bln, West Loses $100Bln

Western countries have lost over $100 billion over three years from the sanctions applied against Russia over the Ukrainian crisis, compared with up to $55 billion lost by Russia, UN Special Rapporteur on the negative impact of the unilateral coercive measures Idriss Jazairy said Friday.

"The sanctioning countries lose more income from sanctions than the targeted country over $100 against $50-$55 billion. The loss of income of Russia from the sanctions, a very rough rule of thumb to apply would be to say that the GDP of Russia has lost about 1 percent as a result of sanctions. Since the GDP of Russia is about $1.7 trillion, the GDP loss of income over three years is about between $50-$55 billion," Jazairy said during a press conference.

Apr 28 08:48

Ex-finance official allegedly embezzled more than $100,000 from Hamline University

A supervisor in the accounts payable department at Hamline University in St. Paul stole more than $150,000 from the school by creating fake vendor accounts and cashing checks issued by the university into her personal bank account, charges say.

Teresa Ann Garin, 51, was charged with three counts of theft by swindle for her role in an elaborate financial scheme that played out between the summer of 2015 and this past winter, according to the criminal complaint filed against her Wednesday in Ramsey County District Court.

Webmaster's Commentary: 

Trying to pay off her student loans? :)

Apr 28 08:31

TRUMP: "I'M A NATIONALIST AND A GLOBALIST"

President Donald Trump was prepared to end the North American Free Trade Agreement deal, which had governed trade relations for the past 23 years, with a dramatic announcement Saturday at a Pennsylvania political rally marking his 100th day in office.

As rumors spread of the possible action, Mexican President Enrique Peña Nieto called the president urging him not to pull out of the accord. "Let me think about it," Mr. Trump said. Within a half hour a call came in from Canadian Prime Minister Justin Trudeau with a similar request.

After the talks, Mr. Trump was convinced "they're serious about it and I will negotiate rather than terminate," the president said in an interview with The Wall Street Journal on Thursday.

Webmaster's Commentary: 

President Trump is neither a nationalist, or a globalist; he is simply a willing puppet for the American Deep State.

Apr 28 07:52

Internet Ad Revenues Surge, Only 2 Companies Get the Spoils

The big shift to mobile advertising.

Apr 28 07:31

BEXALERT: GOP Lawmaker: U.S. Won’t Spray Opium in Afghanistan Because Crops ‘Might Be Too Close to a Mosque’

WASHINGTON D.C. — The United States had the ability to use aerial spraying to destroy the opium crops in Afghanistan used by the Taliban to fund their terrorist activities after 9/11 but refused to do so out of concern that the plants “might be too close to a mosque,” declared Rep. Dana Rohrabacher (R-CA) during a congressional hearing.

We all know why they wont spray the poppies. Cuts into the CIA's profits!

www.whatreallyhappened.com/WRHARTICLES/dyinginafghanistan.php

Apr 28 07:13

President Duterte kicks globalist Rothschilds out of the Philippines

The Philippines just made the US Government's Special High Interest Targets list!

Apr 28 07:06

The Art of the Deal: Wall Street Deals Explode Since January 20th

Since President Donald J. Trump took office on January 20th, almost 3,100 merger or acquisition (M&A) deals have been announced, per recently released data from Thomson Reuters.

2017 continues to be the art of the deal as there have already been 13 deals valued at over $5 billion dollars since the Trump administration took charge. Cross-border deals are also at record highs.

Apr 28 06:51

Atlanta Fed GDPNow Forecast for Q1 Drops to Almost Zero

I hope the forecasting model is broken.

The Atlanta Fed’s GDPNow forecast for first-quarter 2017 economic growth in the US dropped further, this time to 0.2%. This seasonally adjusted “annual rate” of GDP growth means that if the economy grows like this for four quarters in a row, it would grow only 0.2% for the entire year.

Apr 28 06:50

REVEALED: Brussels moves to INCREASE Britain's exit bill to plug EU's budget black hole

Senior EU officials today revealed that member states were “unanimous” on the fact that the UK must settle up on its financial commitments before trade talks can start and appeared to increase the potential scope of the final amount to be paid.

At a briefing to the Brussels press corps eurocrats said they had been “really surprised” by the determination of the other 27 member states to ensure that getting Britain to cough up was included as a top priority in the negotiations.

And they hinted that the “global amount” that the UK will be billed will now include “political” commitments the UK has signed up to, which includes programmes like the Turkey refugee package which could run for years or even decades to come.

Apr 28 04:42

GOVERNMENT SHUTDOWN AVOIDED (*for one week)

Market Recon: Watch the Passage of the One-Week Bill to Avoid Government Shutdown

Apr 27 22:35

Delta passenger kicked off flight after bathroom emergency

If ve order you to pee on yourself you vill obey!

Video has emerged of a Wisconsin man who said he was forced off a Milwaukee-bound Delta Air Lines flight after he used a bathroom while the plane was delayed on the tarmac.
Video posted to YouTube shows the man, later identified as Kima Hamilton of Milwaukee, as he argues with a Delta crew member who asked him to exit the plane on April 18.
Fellow passenger Krista Rosolino, who recorded the video, described the incident in an open letter published to a blog.

She said Hamilton got out of his seat to quickly use the bathroom as the plane sat on the runway.
She said he was told that he couldn't use the bathroom the first time he asked to go. After waiting 30 minutes, Hamilton said it was an emergency and went to the restroom, according to Rosolino.

When he returned to his seat, however, a Delta employee told him to exit the plane.

Apr 27 14:37

The Looting Machine Called Capitalism

I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.

Apr 27 14:00

It’s Different This Time…

While investors insist the markets are currently NOT in a bubble, it would be wise to remember the same belief was held in 1999 and 2007. Throughout history, financial bubbles have only been recognized in hindsight when their existence becomes “apparently obvious” to everyone. Of course, by that point is was far too late to be of any use to investors and the subsequent destruction of invested capital. This time will not be different. Only the catalyst, magnitude, and duration will be.

Apr 27 13:27

The Stock Market Has Gotten So Big It Has Now Passed 2007 Market Bubble

Canada housing regulators are now warning of a housing bubble. The US is seeing the echo housing bubble of 2008. The central bankers need more debt pushed out, so those student's with student loans will now be able to purchase homes by changing the rules.

Apr 27 12:44

Trump 100, Margin Debt Stock Bubble and Gold

Apr 27 12:44

Robert Kiyosaki on income inequality: Why is everybody so mad?

Income inequality is a natural by-product of capitalism. So why is everybody so mad?

Apr 27 12:28

If Credit Card Companies Were Honest

If you've ever wanted to know what it's like to sell your soul and never get it back, just open up a credit card.

Apr 27 11:50

Global Market Cap Hits $50 Trillion For The First Time Ever As All Eyes Turn To Trump Tax Plan

After two days of back to back triple digit gains in the Dow for the first time since the election, overnight the torrid rally has faded, with European shares and U.S. stock futures little changed ahead of Trump’s big unveil of his much anticipated tax cut plan as investors seek new impetus for a flagging relief rally. And, if as some traders expect, the rally is likely to be reignited no matter what Trump announces today (although a less hyperbolic plan may in fact be more favorable for risk, as it makes Trump’s plan more likely instead of being shot down by Congress).

Apr 27 11:04

Mapped: The World’s Dependency on the Travel Industry

Globalization and the growing trend of traveling have increased the number of people traveling to foreign countries each year. This growing trend has brought with it increased GDP growth due to tourism spending. While some countries receive more visitors than others, not all countries rely on their tourism industries to the same extent.

Apr 27 10:51

US Consumers Tap Out: Credit Card Defaults Surge To 4 Year High And It's Getting Worse

Two weeks ago, when JPMorgan launched Q1 earnings season, we noted that while the results were generally good, one red flag emerged: the company's credit card charge offs rose to just shy of $1 billion, the highest in four years.

Apr 27 09:42

West Virginia Legalizes Commercial Hemp Farming Despite Federal Prohibition

By Michael Maharrey

On Tuesday, West Virginia Gov. Jim Justice signed a bill into law significantly expanding the state’s hemp licensing program, opening the door for anybody in the state to produce or process industrial hemp for commercial purposes. The new law sets the foundation to end federal prohibition of hemp in effect in the Mountain State.

Del. Jeff Eldridge (D-Alum Creek) and Del. Jim Butler (R-Henderson) sponsored House Bill 2453 (HB2453). The legislation removes language in the current hemp licensing program restricting it to the Department of Agriculture and state institutions of higher learning. Under the new law, any person with a license will be able plant, grow, harvest, possess, process, sell, and buy industrial hemp...

Apr 27 09:37

This bubble finally burst. Which one’s next?

Like so many other high-flying Silicon Valley startups, Clinkle was supposed to ‘make the world a better place’.

Founded in 2011 by a guy barely out of his teens, the company picked up early buzz after proclaiming they would disrupt mobile payments. Or something.

Apr 27 09:35

TRUMP DECIDES NOT TO WITHDRAW FROM NAFTA

Donald Trump has decided not to pull the US out of the North American Free Trade Agreement, agreeing instead with his Canadian and Mexican counterparts to “proceed swiftly” with negotiations to update the deal, according to the White House.
According to the Financial Times, the move came in hastily arranged calls between the three leaders after news leaked that the White House was considering unveiling an executive order on Saturday that would have laid the groundwork for a US withdrawal.

In a statement, the White House said Trump had agreed with Mexico’s Enrique Peña Nieto and Prime Minister Justin Trudeau of Canada in separate calls on Wednesday to pursue the “renegotiation of the Nafta deal to the benefit of all three countries”.

“It is my privilege to bring Nafta up to date through renegotiation,” the statement quoted the president as saying. “I believe that the end result will make all three countries stronger and better.”

Webmaster's Commentary: 

Another complete about face on trade makes me wonder; who is really in control of this government?!?

Because right now, from where I am sitting, it appears that President Trump is little more than a figurehead, and not at all in control of the government.

These flip-flops on campaign promises are giving me mental whiplash; please stop this, President Trump!!

Apr 27 09:30

Putting Tesla’s EV Car Recall Into Perspective

By Brian Berletic

News coverage about electric car manufacturer Tesla’s recent recall of over 50,000 vehicles over potentially faulty parking brakes has followed a narrative summed up by articles like Ars Technica’s, titled, “Its Always Some Else’s Fault — Tesla recalls 53,000 vehicles built in 2016 over faulty parking brake.”...

Apr 27 09:29

With Mistrial Declared in First Bundy Trial, Federal Land Policies Remain the Real Issue

The land policies of the federal government, which commandeers about 640 million acres nationwide (28% of the 2.27 billion acres of the overall U.S.), do indeed call into question the very nature of such massive land control. The concentration of federal land ownership in the American West is especially staggering, with over 80% of Nevada falling under federal jurisdiction.

Behind the façade of the prosecution’s rather tedious, misleading courtroom arguments, that’s the real issue in the first trial of the landmark Cliven Bundy property-rights case—in which the jury deadlocked on April 24.

Apr 27 09:18

Trump proposes tax cut for owner-operator businesses

President Trump on Wednesday unveiled a tax cut proposal that would cap the tax rate for businesses who file their taxes through their owners’ personal income tax, such as owner-operator truckers, at 15 percent. The plan would remove the existing percentage brackets of 25, 28, 33 and 39.6 for higher-earning owner-operators.

Apr 27 09:14

The Looting Machine Called Capitalism

Capitalism is the Banksters economic system they have imposed on the Planet.
America's Original economic system was free enterprise. When the Brits tried to impose an early form of capitalism on America known as Mercantilism they got a Revolution. The Banksters eventually got us back into their Satanic Economic System. PCR is 100% right. Capitalism and its handmaiden fractional reserve banking also known as Usury are nothing but a Gigantic Looting and Killing Machine!
The Looting Machine Called Capitalism
Paul Craig Roberts

I have come to the conclusion that capitalism is successful primarily because it can impose the majority of the costs associated with its economic activities on outside parties and on the environment. In other words, capitalists make profits because their costs are externalized and born by others. In the US, society and the environment have to pick up the tab produced by capitalist activity.

Apr 27 09:12

Pesky Automatic Subscription Renewals Might Soon Be Easier to Cancel

You subscribe to a magazine or join a gym for a special rate and months later realize you're paying a lot more for renewals. And those fees keep hitting your bank account while you try to figure out how to make it stop.

Apr 27 09:12

Are High-Interest Personal Loans a Necessary Evil?

Angelenos at the bottom of the economic ladder often pay a higher percentage of their income for rent, face greater risk of being confronted by police and live in areas where economic opportunities, including loans, are more like economic scams.

Apr 27 08:47

Former Obama DHS Secretary Napolitano Busted For $175 Million California Univ Slush Fund

state auditor -- “I’ve never had a situation like that in my 17 years as state auditor

Apr 27 08:32

Panera Bread increases automation, leads to hiring 10,000 workers

Due to increased demand for its products brought about by automated ordering, Panera Bread will be hiring new employees to staff its cafes and delivery routes.

Apr 27 07:55

Airlines Boosting First Class, Skimping on Coach

here's a growing chasm between the haves and the have-nots in the air.

Webmaster's Commentary: 

Apr 27 07:29

Twitter Revenue Plunges for First Time Ever, Stock soars

US ad revenues collapse. Twitter cuts costs to manage its decline.

Apr 27 07:28

HOSPITAL Offers Buy-Out To 1,600 Employees

Brigham and Women's Hospital offering buyouts to 1,600 employees

(*prelude to layoffs , buy out is voluntary . In other words, take the buy out now , or face the layoff later . )

Apr 27 07:23

President Trump Lowers Taxes For Small Businesses, Simplifies Tax Code!

Once again President Trump proves that he is a man of his word. Earlier today, the leader of the free world announced a wonderful tax plan that will provide tremendous aid to individuals and small businesses alike. The new tax plan consists of the following: lower individual income tax rates, a reduction in business rates, one time tax on overseas profits, a new territorial tax system, tax break for child care costs, and the repeal of the Alternative Minimum Tax. The President’s new tax plan is in great alignment with his written proposals on tax reforms in his 2015 book ‘Crippled America: How to Make America Great Again’.

Apr 27 07:22

The Economic Hitmen Awareness

Apr 27 07:16

Improvised Explosives in Markets

What happens when new currency is created with few limits by central banks and commercial banks?

Answer: Far too much debt and currency are created.

Apr 27 04:57

Have We Just Reached Peak Stock Market Absurdity?

Have you ever wondered how tech companies that have been losing hundreds of millions of dollars year after year can somehow be worth billions of dollars according to the stock market?

Apr 27 01:59

Can US-style Housing Crisis, “Jingle Mail” Hit Canada’s Banks?

Dismantling the old saw that it can’t happen in Canada.

Apr 26 22:25

White House: Trump will not immediately bolt NAFTA

WASHINGTON

President Donald Trump on Wednesday told the leaders of Mexico and Canada that he will not immediately pull out of the North American Free Trade Agreement, just hours after administration officials said he was considering a draft executive order to do just that.

The White House made the surprise announcement in a read-out of calls between Trump, Mexican President Enrique Peña Nieto and Canadian Prime Minister Justin Trudeau.

Apr 26 15:45

If Mortgage Rates Tick Up Even a Little, What’ll Happen to Canada’s House Price Bubble?

The question now being asked, years too late: How will this end?

Apr 26 15:40

Tax cuts for the middle class and an IRS return that fits on a single sheet of paper: White House unveils 'biggest tax cut in history' that kills the death and cuts corporate rate to 15%

The Trump administration proposed an overhaul of the tax code on Wednesday that could allow many Americans to file their annual tax returns on a single sheet of paper – and cuts their taxes, eliminating them entirely on the first $24,000 of income earned by a married couple.

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