ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 02 08:04

AMERICA'S FERTILITY RATE FALLS TO RECORD LOW

The US isn't yet grappling with the economic disaster that is a shrinking population - unlike Japan. Though it's starting to look like a not-too-distant possibility. US birthrates fell to yet another historic low in 2016 as a whirlwind of economic and cultural factors inspire more women to delay, or forgo, having children. According to provisional data for the fourth quarter provided by the CDC, the US birthrate has declined to 62 births per 1000 women – its lowest level on record, and down from 62.5 in 2015.

This is especially troubling because demographers worry that a dwindling birth rate will hurt economic growth and tax revenues needed to fund transfer payments to a growing elderly population, as more members of the baby boomer generation age into retire.

Jul 01 17:25

Making Money Great Again - Ron Paul

Dr. Ron Paul: Gold & Silver the most preferable kind of money

Jul 01 11:17

Treasury-Bund Spread Gives Early Warning of the End

The 28-year record high spread between 10-year T-Notes and German 10-year “bunds” is finally starting to narrow just a bit.  This is a warning that the great bull market in stock prices from the 2009 low is in its last stages.  But it is not done yet.

Jul 01 09:53

Trump "Overrules" Cabinet, Prepares To Unleash Global Trade War

While one of Trump's recurring campaign promises was that he would "punish" China and other key US trade counterparties if elected, for taking advantage of free-trade by imposing steep tariffs and duties on foreign imports to "level the playing field", the President's stance changed drastically after the election, U-turning following his amicable meeting with China's president Xi Jinping in March, but mostly as a result of pressure by his ex-Goldman advisors to keep existing trade arrangements in place and not "rock the boat."

Now, all that may be about to fall apart.

Jul 01 09:30

U.S. Gold Exports Surge As Its Gold Trade Deficit Continues

It’s no secret that the East (Asians and Indians) continue to acquire a lot of gold as Western demand has weakened this year.  According to the most recent data released by the USGS – United States Geological Survey, U.S. gold exports surged during the first four months of the 2017 versus the same period last year.

Jul 01 09:27

French Corbyn? Macron's election promises DESTROYED as he's told France needs AUSTERITY

EMMANUEL Macron's dreams of ramping up spending to fund his election campaign pledges were shut down today after a French watchdog warned he could bankrupt France.

Jul 01 09:18

Washington and Berlin on a Collision Course

The Russia sanctions bill that passed the US Senate by 98:2 on June 15 is a bombshell; it directly demonizes the Nord Stream 2 pipeline, under the Baltic Sea, which is bound to double Gazprom’s energy capacity to supply gas to Europe.

The 9.5 billion euro pipeline is being financed by five companies; Germany's Uniper and Wintershall; Austria's OMV; France’s Engie; and Anglo-Dutch Shell. All these majors operate in Russia, and have, or will establish, pipeline contracts with Gazprom.

Jun 30 23:22

America's Death Throes

China and Russia have already ditched the US dollar in their vast energy trade. Now China is leveraging Saudi Arabia to also abandon the greenback for oil sales. No wonder, it seems, that US policies are increasingly lashing out.

US global power depends on its presumed economic prowess and military force. With its economy in long-term decline, precipitated by the teetering dollar, the US rulers are relying increasingly on militarism to project power. That tendency is pushing the world to war.

The challenge is to somehow steer the American military monster into a safe berth without eliciting a world war.

Jun 30 16:09

Hawaii Unanimously Passes Bill Supporting Universal Basic Income

Hawaii is the new California. This is one big step towards flat out communism.

Jun 30 11:56

What New “Metals Are Money” Law Means for You

In recent years, there have been organized efforts across the country to pass laws recognizing gold and silver as money. So far, there hasn’t been any success on the national level, but efforts at the state level have been more positive

Jun 30 10:31

Savings ratio at record low as disposable income drops, says ONS

The proportion of UK residents' disposable income that goes into savings has fallen to a record low.

The savings ratio - which measures the outgoings and incomings that affect households - has been falling sharply for more than a year.

The Office for National Statistics (ONS) said the ratio stood at 1.7% from January to March, down from 3.3% in the previous quarter.

Jun 30 09:48

Apartment Rents Drop as Commercial Real Estate Sours

And transactions in the apartment sector plunge.

Jun 30 09:44

Putin signs decree extending ban on Western food imports

Russia has renewed retaliatory sanctions against the European Union after the bloc extended bans against Moscow over the Ukraine crisis.

President Vladimir Putin signed a decree on Friday, extending the counter-sanctions until the end of 2018.

The decree extends a ban on Western food imports for another 18 months.

On Wednesday, the EU formally extended its economic sanctions against Russia, which were imposed in July 2014 after the Crimea region separated from Ukraine and rejoined Russia after holding a referendum on the issue.

In a related move, Russia on Friday said it was suspending its contributions to the Council of Europe for 2017.

The suspension comes after a lengthy dispute regarding delegates from the country who were stripped of authority after Crimea's reunification.

The Kremlin said Russian Foreign Minister Sergei Lavrov had informed the Council of Europe's Secretary General Thorbjorn Jagland of the decision in a phone conversation.

Jun 30 09:32

New Nevada Law Legalizes Commercial Hemp Production Despite Federal Prohibition

By Michael Maharrey

Tomorrow, a new Nevada law goes into effect legalizing commercial industrial hemp production in the state, despite a federal ban on the same. The new policy sets the foundation to nullify federal prohibition in practice and effect within the state.

A bipartisan coalition of 12 legislators sponsored Senate Bill 396 (SB396). The new law authorizes the cultivation of industrial hemp for commercial purposes and the production of agricultural hemp seed in Nevada. The statute expands current law...

Jun 30 09:22

Trump "Overrules" Cabinet, Prepares To Unleash Global Trade War

While one of Trump's recurring campaign promises was that he would "punish" China and other key US trade counterparties if elected, for taking advantage of free-trade by imposing steep tariffs and duties on foreign imports to "level the playing field", the President's stance changed drastically after the election, U-turning following his amicable meeting with China's president Xi Jinping in March, but mostly as a result of pressure by his ex-Goldman advisors to keep existing trade arrangements in place and not "rock the boat."

Now, all that may be about to fall apart.

Webmaster's Commentary: 

Trade wars, like sanctions, have a way of becoming a prelude to hot wars, and this is absolutely not what this country needs right now.

I hope President Trump will re-think this issue.

Jun 30 09:12

EU SUBSIDY MADNESS: Millions given to UK billionaires while REAL farmers fight to survive

TWENTY per cent of the largest British recipients of European farming subsidies are billionaires and millionaires on the Sunday Times Rich List, research has found.

Jun 30 08:49

Why Big Marijuana Will Survive Jeff Sessions

I have had Crohn's disease for over 40 years. It affects more than just your digestive system. It causes eye problems.liver,kidney and pancreatic problems. It causes skin problems like Pyoderma Gangreneosum and Erythema Nodosum. With P.G you get big ulcers on your skin that smell bad and really hurt. With E.N.the capillaries under your skin rupture and you leak blood through your skin. The same happens in the whites of your eyes and you look like Dracula. It is a tough disease to have! Cannabis and other natural remedies,herbs ,vitamins and especially amino acids are what I use. Crohn's causes an imbalance in serotonin and dopamine. Cannabis lowers serotonin and raises dopamine. It makes my life bearable.
Why do we have to ask permission to treat our own illnesses as we see fit?

Jun 30 08:25

Illinois Comptroller: "The State Can No Longer Function"

With just 10 days to go until Illinois enters its third year without a budget, resulting in the state's imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic Illinois Comptroller Susana Mendoza issued a warning to Illinois Gov. Rauner and other elected officials on Tuesday, saying in a letter that her office has "very serious concerns" it may no longer be able to guarantee "timely and predictable payments" for some core services.

Jun 30 08:19

Legal weed comes to Nevada — and alcohol industry wants a piece of the pot

When the recreational marijuana statue was approved by voters, it gave alcohol wholesalers exclusive rights to the distribution licenses for the first 18 months it was enacted. Letters were mailed to eligible license holders in the state, but Chris Thompson, the executive director for the Las Vegas chapter of the National Organization for the Reform of Marijuana Laws (NORML) said with few responses, tax commissioners approved a temporary regulation that would allow the department to make exceptions for non-wholesalers.

Jun 30 08:05

Is This Why the Fed is Raising Rates???

Jun 30 07:39

Pensions Timebomb In America – “National Crisis” Cometh

“This is going to be a national crisis…”

“This” being America’s woefully underfunded pension liabilities, according to Karen Friedman. She’s the executive vice president of the Pension Rights Center.

(A place called the Pension Rights Center does in fact exist. We checked.)

MarketWatch columnist Jeff Reeves howls in confirmation that “collapsing pensions will fuel America’s next financial crisis.”

Jun 30 06:54

US sanctions Chinese bank, plans to sell $1.4bn worth of arms to Taiwan

The Trump administration plans to sell Taiwan just over $1.4 billion in weapons, while China's ambassador to the US has reportedly said the deal goes against the "spirit" of talks between President Donald Trump and Chinese President Xi Jinping.

"And all these actions – sanctions against Chinese companies and especially arms sales to Taiwan – will certainly undermine the mutual confidence between the two sides and runs counter to the spirit of the Mar-a-Lago summit," said Ambassador Cui Tiankai, speaking to reporters at an embassy reception in Washington.

Jun 30 06:45

Banking Giant Tells Clients to Prepare for Government Collapse, Third General Election

Citigroup has warned clients that Theresa May’s position as prime minister is “unsustainable”, warning them to prepare for the government to collapse within a matter of months.

The multinational banking corporation believes the parliamentary majority which the prime minister secured through her deal with Ulster’s Democratic Unionist Party is “not comfortable enough for crunch votes”, according to a report in The Times.

“In our view, May’s premiership is not sustainable beyond a few months, perhaps a year at most, and will be under pressure in the face of contentious parliamentary votes from the very beginning,” they said.

Highlighting the “numerous opportunities for parliamentary rebellion” over Brexit, they suggested there could be a “harsh backlash” from what it describes as “the anti-EU British media” if her government gives way on items such as the 100-billion euro settlement demand.

Webmaster's Commentary: 

Considering Citigroup's Eurocentric "vision", which is solidly anti-Brexit,no matter how it handicaps small businesses in Europe, this position is hardly surprising.

Jun 29 16:15

The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way

The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. 

Jun 29 16:13

James Howard Kunstler - Major Crisis of Culture and Economy Coming Soon, Consequence of Rigged Markets is Currency Crisis

How does James Howard Kunstler think all the rigged financial markets and fantasy economy will play out? Kunstler says, “There is an appearance that they can carry on these shenanigans forever, but sooner, rather than later, we are going to see consequences.

Jun 29 16:10

$30 Oil Could Spark Contagion In Energy Markets

If oil prices continue to fall, the financial damage could start to become a concern.

Jun 29 15:25

Student Debt Means Fewer Public Servants — And More Bankers

Cum laude, my diploma reads — “with honor.” But cum debitum, “with debt,” is a bit more accurate.

Collectively, America’s student borrowers owe $1.7 trillion. On average, each graduating senior this year is beginning their life around $37,000 in the hole.

Jun 29 14:57

The Fed Just Announced The Final Confirmation That The Economy Is About To Crash

Retailers are now starting to fight among each other as the retail industry breaks down. The Fed just made it harder for students going to college, the rates are going up.

Jun 29 14:31

In "Unprecedented Step" US Sanctions Chinese Entities With Ties To North Korea

After allegedly pressuring the Chinese government to act first and adopt sanctions against nearly 10 local entities who the US claims provided North Korea with materials used in its nuclear program, the US has decided to act. In an unprecedented step, the Treasury Department slapped financial sanctions on two Chinese nationals and a Chinese shipping company over their ties to North Korea stemming from its nuclear program, according to Reuters.

Jun 29 13:36

“Tightening” Slugfest Erupts behind the Fed

July rate hike “in the bag” for Canada. Bank of England, ECB scramble.

Jun 29 13:27

BREAKING: Editors at the Failing NYT gather before a staged walkout

BREAKING: Copy editors at the Failing NYT gather before a staged walkout to protest all the job cuts/firings going on there!

Jun 29 13:11

NYSE President Explains Why Markets Should Be Rigged More

Targeting Short Sellers: what they do is “icky and un-American.”

Jun 29 13:04

12-Year Old Child Reveals One of the Best Kept Secrets in the World

12-year old exposes the immorality of the global banking system and why sound money is essential to freedom and stopping the spread of misery on this planet.

Shame everybody into watching what this bright girl discovered and we ALL must understand and then demand that this practice be ended where ever this kind of banking fraud is practiced.

Jun 29 12:53

The Fed Is A Economic Suicide Bomber

Jun 29 11:26

'It's RIPPED the EU apart!' Moment Merkel is attacked by her own ministers on Greece debt

The Social Democrat Thomas Oppermann, 63, has launched an attack on the German Chancellor saying that her policy regarding the bailout money for Greece has divided Europe.

Speaking in the Bundestag, he said: "The Chancellor rightly honoured [former Chancellor] Helmut Kohl. But not a cent for Greece - Mrs Merkel, that would never have been Helmut Kohl's motto, he would never have allowed the Greek crisis to push the European Union apart."

Jun 29 11:10

The fall of Detroit

Detroit has obvious financial problems caused by the loss of the auto industry. But the city has another problem... Decades of systemic political corruption.

Jun 29 11:09

REVEALED: The REAL reason Angela Merkel is backing Emmanuel Macron's eurozone reform plans

Mr Macron’s calls for a eurozone finance minister and separate budget have been well received by European Union leaders but Mrs Merkel has been vague in her support and has yet to indicated what she would expect in return.

But behind the scenes the haggling is already well underway and control of the ECB is top of Berlin’s wish list.

Jun 29 09:58

TOP CAR COMPANY JUST WENT ALL IN ON TRUMP... SHOCKING NEW OPERATION FOR AMERICA

Trump won the presidency based largely on his pledge to “Make America Great Again” — and now one of the nation’s one-time enemies is stepping up to make that happen.

Jun 29 09:35

Silicon Valley's Doomsday: Prepping For An Economic Apocalypse [Divided America, Pt. 1] | AJ+ Docs


As Silicon Valley works toward an automated future, many fear that the resulting unemployment will cause deep unrest, and soon. These survivalists are preparing themselves and their families to live out this technological apocalypse in style, complete with bunkers, off-grid homes and the guns to defend them.

Jun 29 08:42

What Problems Are We Solving by Increasing Complexity?

The incremental increase in systemic complexity is rarely if ever recognized as a problem that additional complexity can't solve.

Jun 29 08:19

Dow 1987 vs Now -- Eerily Similar!

Jun 29 07:26

Welcome To The Third World, Illinois About To Default?

The train wreck that is the state of Illinois has generated a lot of questions lately, including “Will its government ever pass a budget?”, “Will it ever pay its overdue bills?”, and “Is it possible for a state to go bankrupt?”

Jun 29 03:26

Janet Yellen Says A New Financial Crisis Probably Won’t Happen ‘In Our Lifetimes’ But The BIS Says One Could Soon Hit ‘With A Vengeance’

Federal Reserve Chair Janet Yellen is quite convinced that the United States will not experience another financial crisis for a very long time to come. 

Jun 28 18:31

The Perfect Economic Storm Is About To Hit & Most People Are Not Ready

The conference board and the gallup polls show that the consumer believes that economy is getting worse and not improving.

Jun 28 17:08

“Mortgage Demand Cools”: Fannie Mae

Home prices are “weighing on affordability and constraining sales.”

Jun 28 16:33

The Super Bubble Is In Trouble

You do not need to be a financial market wizard to see that especially bond markets have reached bubble territory: bond prices have become artificially inflated by central banks' unprecedented monetary policies.

Jun 28 14:27

UK public turns against austerity

After seven years of cuts, the public mood has shifted against austerity, according to one of the most wide-ranging national opinion surveys.

Jun 28 12:52

Real Perils and Virtual Coins | Mike Rivero

Jun 28 10:45

It's a hard life! EU moans it can't attract new recruits because of cuts to eurocrat perks

The EU Commission, which employs a massive 32,578 people, has vowed to cut staffing costs by five per cent after finding itself at the centre of repeated scandals over the lavish perks afforded to its staff.

The lowest ranking EU officials receive a basic salary of over £30,000 a year, significantly topped up by generous allowances and expenses, which is much higher than average UK pay.

And at the top of the eurocrat tree that rises to an eye-watering £170,000 a year, supplemented by astonishing perks at the European taxpayers’ expense including private school fees and chauffeur driven cars.

On top of that EU staff enjoy a wide range of perks and tax breaks including pensions which amount to a whopping 70 per cent of their final salaries and a 16 per cent expat “top up” to their already bumper pay.

Jun 28 10:45

These Large Companies, Still Using Unpatched or Bootleg Windows, Got Hit by Petya Ransomware Attack

Even after all the WannaCry hoopla in May. US companies too!

Jun 28 10:44

Brexit 'will blow hole in budget', EU commissioner warns

The UK's departure from the EU will leave a budget shortfall of at least €10bn (£8.8bn; $11.4bn), the budget commissioner has warned.

Günther Oettinger said the bloc must either spend less or find new money to fill the gap, equivalent to an estimated 16% of the entire budget.

Among the options on the table could be less generous payments to farmers or a tax on financial transactions.

"A big country, a net contributor is leaving," Mr Oettinger said.

"That must have consequences."

Jun 28 10:04

Watch Live: Congressional Hearing On How The Fed Is Screwing Main Street And Retirees

This morning the House Financial Services Committee is holding a hearing that will evaluate how Federal Reserve policies are adversely affecting households, small businesses, savers, and retirees, and consider policy opportunities that the Federal Reserve could implement to improve economic opportunities for all.

The panel will include the following witnesses:

Dr. Norbert Michel, Senior Research Fellow, The Heritage Foundation
Dr. Paul Kupiec, Resident Scholar, American Enterprise Institute
Dr. Karen Dynan, Nonresident Senior Fellow, Peterson Institute for International Economics
Mr. Alex J. Pollock, Distinguished Senior Fellow, R Street Institute
These witnesses should have plenty of fun material to knock this softball out of the park...

Jun 28 09:51

2 Out Of 3 Patients Can't Afford Their Hospital Bills Thanks To Obamacare's Soaring Deductibles

We've spent a lot of time over the past couple of years talking about soaring healthcare premiums brought on by Obamacare. The price increases have been outright crippling for those forced to buy policies on the exchanges, up well over 100% over the past 4 years, on average, with some states up over 200%.

Jun 28 09:41

Brandon Smith: “Next Phase of Collapse Will Include the End of the Dollar as We Know It”

I have written on the subject of the Federal Reserve’s deliberate sabotage of the U.S. economy many times in the past. In fact, I even once referred to the Fed as an “economic suicide bomber.” I still believe the label fits perfectly, and the Fed’s recent actions I think directly confirm my accusations.

Back in 2015, when I predicted that the central bankers would shift gears dramatically into a program of consistent interest rate hikes and that they would begin cutting off stimulus to the U.S. financial sector and more specifically stock markets, almost no one wanted to hear it. The crowd-think at that time was that the Fed would inevitably move to negative interest rates, and that raising rates was simply “impossible.”

Webmaster's Commentary: 

There are many reasons why precious metals are frequently valued much more highly than a fiat currency; the metals keep their value over the years, while a paper fiat currency can collapse, overnight.

Jun 28 09:39

Euro per 1 US Dollar Graph

Webmaster's Commentary: 

Look at the drop of the dollar in the past week!

Jun 28 09:37

The End Of The (Petro)Dollar: What The Fed Doesn't Want You To Know

The United States’ ability to maintain its influence over the rest of the world has been slowly diminishing. Since the petrodollar was established in 1971, U.S. currency has monopolized international trade through oil deals with the Organization of the Petroleum Exporting Countries (OPEC) and continuous military interventions. There is, however, growing opposition to the American standard, and it gained more support recently when several Gulf states suddenly blockaded Qatar, which they accused of funding terrorism.

Despite the mainstream narrative, there are several other reasons why Qatar is in the crosshairs. Over the past two years, it conducted over $86 billion worth of transactions in Chinese yuan and has signed other agreements with China that encourage further economic cooperation. Qatar also shares the world’s largest natural gas field with Iran, giving the two countries significant regional influence to expand their own trade deals.

Jun 28 09:32

The estates of Bernie Madoff's two dead sons will be left with $2million each after agreeing to pay $23million to victims of his Ponzi scheme

The estates of Bernard Madoff's late sons have reached an agreement to pay out more than $23 million of settlements to victims of the infamous swindler, ending more than eight years of litigation.

The settlement will strip the estates of Mark and Andrew Madoff of 'all assets, cash, and other proceeds' of their father's fraud, leaving them with a respective $1.75million and $2million, a Monday court filing revealed.

In 2010, less than a year after Bernard Madoff was sentenced to 150 years in prison for fraud, his eldest son Mark Madoff committed suicide. Younger brother Andrew died of cancer in 2014.

Jun 28 09:22

It Begins: WalMart Warns Truckers It Will No Longer Work With Them If They Move Goods For Amazon

The cold war between America's two largest retailers just turned hot.

In a note this morning from Deutsche Bank's freight and logistics analyst Amit Mehrotra, he notes that the "WMT vs. AMZN battle is heating up" and points to a report by DV Velocity, according to which a well respected transportation industry consultant told attendees of a logistics conference that Walmart (WMT) is telling trucking companies that it will no longer do business with them if they continue moving goods for Amazon (AMZN).

This follows similar reports citing WMT’s “request” for its tech partners to stop using Amazon Web Services.

The news, while suggestive perhaps of Walmart's growing desperation in its war with the retail juggernaut that is Amazon, has dramatic implications not only for the future of retail (and associated prices) but for one of the most important US industries: trucking, and the number of people it employees.

Webmaster's Commentary: 

SOMEONE in Walmart's legal department should have nixed this in the bud; it is tantamount to restraint of trade, and illegal.

Jun 28 08:52

How the Neocons hijacked the U.S. Economy - Catherine Fitts

Jun 28 08:44

UPS to freeze pensions for 70,000 nonunion workers to cut costs

United Parcel Service Inc. will freeze a pension plan for about 70,000 nonunion U.S. employees because of escalating costs and volatility in determining future payments, replacing it with a different retirement benefit.

The shift won't occur until Jan. 1, 2023, giving affected workers more than five years to prepare, the shipping company said Tuesday. Most of the employees, which account for about 16 percent of the company's workforce, are in administrative or management positions.

Jun 28 08:17

Donald Trump considering China sanctions over North Korea, say officials

US president Donald Trump is growing increasingly frustrated with China over its inaction on North Korea and bilateral trade issues and is now considering possible trade actions against Beijing, three senior administration officials told Reuters.

Jun 28 07:32

UK credit and car loan problems are building

As we look at the UK credit situation there are building pressures almost everywhere we look. This is hardly a surprise if we step back and review the years and years of easy monetary policy involving cutting the Bank Rate to a mere 0.25% and some £445 billion of QE ( Quantitative Easing) as well as other policies.

Jun 27 16:34

Papahanaumokuakea Review Spurs Tension With Conservation Groups, Fisheries

I want to hear Mike say that on the show tomorrow!

HONOLULU (CN) – President Donald Trump’s targeting of the Papahanaumokuakea Marine National Monument in the northwest Hawaiian Islands for national review has revived a lopsided debate between Native Hawaiians, senators, scientists and conservation groups in favor of the monument’s designation, and an activist fishery council mainly concerned with “maximizing longline yields.”

Jun 27 15:44

It is all about the banks yet again

If there is a prime feature of the credit crunch in the financial world it is the woes and travails of the banks. That is quite an anti-achievement when you consider that if you count from the first signs of trouble at the mortgage book of Bear Stearns we are now in out second decade of this period having lost one already.

Jun 27 15:29

This is why millennials are fat and broke

Jun 27 15:27

If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable

Centrally issued money optimizes inequality, monopoly, cronyism, stagnation and systemic instability.

Jun 27 15:19

Stock Speculators Take Record Risk On Continued Calm

Speculators in VIX futures are presently holding their largest net-short position ever.

Jun 27 14:31

WHEN THIS MASSIVE BUBBLE POPS… What Will Happen To The Precious Metals?

As the Mainstream financial media continues to promote the biggest market bubble in history, only a small fraction of investors are prepared for the disaster when it finally POPS.  The markets are so insane today, it seems as if fundamentals don’t matter any more.  However, they actually do if we look at the numbers closely.

Jun 27 14:13

Even The Fed's Indicators Just Collapsed, This Is Not Good

Because of austerity Greece is feeling the pain of a garbage problem, the workers have gone on strike and want the government to give them full employment, meanwhile the garbage is piling up.

Jun 27 13:45

Italy’s newest bank bailout cost as much as its annual defense budget

Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca.

(In other news, the sky is blue.)

Jun 27 11:08

Treating homes like ATMs is back in fashion: Home Equity Withdrawals rising at fastest pace since Great Recession.

I love getting tips from Uber drivers especially when it comes to buying real estate. We are now back at that level where real estate can do no wrong, the house humpers are confusing luck with investment acumen, and of course the sheep dive in head first at the most frothy time. It is clear that we are in a mania and hot money is flowing everywhere. Credit card offers are soaring and lending is booming across all areas: credit cards, auto loans, student debt, and housing. With housing, we are now seeing one of our favorite past-time events in treating a home like an ATM. Home equity withdrawals are now moving up in a direction that is not exactly positive if you believe in actually keeping your equity locked in instead of cementing your belief in the bubble and adding more debt. You do need to pay those loans back by the way which many tend to forget. Home equity withdrawals are simply one of the final steps in the delusional mania.

Jun 27 10:38

House Armed Services Committee Unveils $696.5 Billion Military Spending Bill

Just days after committee chair Mac Thornberry (R – TX) announced his intention to unveil a $640 billion military spending bill, the House Armed Services Committee actually unveiled a $696.5 billion bill, which you’ll notice is quite a bit more, but which is also being presented as a “cut” from the previous announcement.

The imagined cut is based on the idea that the $640 billion would’ve added quite a bit of funding for Overseas Contingency Operations (OCO), and the new bill already includes $75 billion in OCO, which they’re presenting as meaning the bill is only $621.5 billion, despite the OCO money being very real, and also including substantial amounts that’ll be spent on things not related to overseas operations.

Webmaster's Commentary: 

This government does not necessarily need to spend more money; they need to spend money for our military more intelligently.

This should translate into the death of cost over-runs which are absorbed by taxpayers; the ending of problem-plagued programs like the F-35, with the companies like Lockheed Martin absorbing the costs of their failures, after a certain point, from corporate funding, and not taxpayers' funding.

The failure of weapons to perform as advertised should be treated as a form of corporate treason against this country.

Please don't get me wrong; as a Christian pacifist activist, who is constantly exhorting her government to use hard-won, moral negotiations as the way to resolve geopolitical disputes, I abhor war as a methodology for resolving disputes.

That being said, if the civilian leadership is going to use war to pursue its aims, our military deserve weapons that work. China and Russia are spending far less on their military outlays, but are winding up with weapons which do, and will work, very efficiently.

Jun 27 10:12

YouTube Busted Profiting Off of Pedophilia Videos While Censoring Alt-Media

On Sunday, we pointed our readers’ attention to Seven Super Girls, a channel of videos created by kids, for kids — so so goes the facade. The only problem with the channel is it’s incredibly exciting to pedophiles — and seems to be geared that way intentionally — something we documented thoroughly.

Compounding problems for Youtube, its selective censorship of far-right, far-left, and alt-media organizations has created an Us versus Them atmosphere where content creators often feel they’ve been discriminated against, simply because someone flagged their content.

Jun 27 09:37

Kremlin spokesman says Putin and Trump will meet in Hamburg

No specific decisions have been made yet concerning the upcoming meeting between Russian President Vladimir Putin and his US counterpart Donald Trump due in Hamburg, Kremlin spokesman Dmitry Peskov told reporters.

Webmaster's Commentary: 

This meeting cannot possibly come soon enough.

However, if President Trump is persuaded by his advisors to "stiff" Putin at the G-20, all hell could break loose in this world, in terms of a US war against Syria and Iran (which means, potentially, war with Russia) and I really would not like to see that happen.

Jun 27 09:30

Great recession fears as bankers warn next global crash could arrive 'with a vengeance'

A new financial crisis is brewing in the emerging economies and it could hit “with a vengeance”, an influential group of central bankers has warned.

Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to the annual report of the Bank for International Settlements (BIS).

Claudio Borio, the head of the BIS monetary and economic department, said a new recession could come “with a vengeance” and “the end may come to resemble more closely a financial boom gone wrong”.

The BIS, which is sometimes known as the central bank for central banks and counts Bank of England Governor Mark Carney among its members, warned of trouble ahead for the world economy.

It predicted that central banks would be forced to raise interest rates after years of record lows in order to combat inflation which will “smother” growth.

Webmaster's Commentary: 

IF you can, please get your credit card balances as low as you can, because I can see a massive interest hike coming out of any global economic crisis which might be coming.

Jun 27 09:29

Trump's ANWR Move Could Spawn Epic Oil, Natural Gas Battle

President Trump has uncorked yet another controversy over energy vs the environment and it promises to be a heavyweight battle.

The White House budget proposal includes a revenue line of almost $2 billion from selling oil and gas leases in the richly oil-prospective northeastern coastal plain of the Arctic National Wildlife Refuge (ANWR) in Alaska.

Until the climate change debate came along, leasing and drilling in the ANWR (pronounced an-war) Coastal Plain was arguably the most ferociously contested item on the oil and gas industry’s wish list at the national level.

Jun 27 09:29

James Rickards: The Fed Is Going To Cause Recession

James Rickards, author of “The Road to Ruin,” has successfully predicted Federal Reserve (Fed) policy in the past. In this interview with The Epoch Times, he explains why the recent tightening could lead to a recession and why he recommends gold as a “crisis hedge.” He also explains why he thinks bitoin is in a bubble.

Jun 27 09:09

Central Banks Buying Stocks Have Rigged US Stock Market Beyond Recovery

Central banks buying stocks are effectively nationalizing US corporations just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail. At first, their novel entry into the stock market was only intended to rescue imperiled corporations, such as General Motors during the first plunge into the Great Recession, but recently their efforts have shifted to propping up the entire stock market via major purchases of the most healthy companies on the market.

Jun 27 08:37

The Ultimate Regulatory Reform: Abolish Fractional Reserve Banking!

The Trump Administration has presented the first part of its plan to overhaul a number of Wall Street financial regulations, many of which were enacted in the wake of the 2008 financial crisis. The report is in response to Executive Order 13772 in which the US Treasury Department is to provide findings “examining the United States’ financial regulatory system and detailing executive actions and regulatory changes that can be immediately undertaken to provide much-needed relief.”*

Jun 27 07:52

Merkel and Trump braced for G20 clash: Germany to make free trade demands

ANGELA Merkel and Donald Trump are on a collision course over free trade, the global steel industry and Washington’s decision to pull out of the Paris climate deal.

Jun 27 07:45

Robert Soros Steps Down As President Of Soros Family Office

Robert Soros, 53, the eldest of George Soros' five children and currently deputy chairman and president of Soros Fund Management, is resigning from those roles and stepping down from day-to-day management to invest his own money at the $26 billion family office according to Bloomberg, which adds that Robert will remain an owner at the firm where he has worked in various investment and management roles for more than 20 years, and will continue to be involved in its strategic long-term planning.

Jun 27 07:39

The Rising Cost of Senior Care in America

The costs related to senior care continue to climb, but with more options available, the process is becoming more manageable. The trend toward a more customized senior assisted experience is shifting from the nursing home or assisted living facility, toward stay at home care.

Jun 27 06:57

American spies use US Federal Reserve to monitor foreign banks

American intelligence services have made use of a little-known confidentiality exception to spy on the financial activities of foreign banks who have accounts with the United States Federal Reserve, according to Reuters. Established in 1913, the Federal Reserve System is the central banking structure of the US. It oversees and regulates the nation’s financial institutions, and is tasked with —among other things— maintaining the stability of the American financial system.

Jun 27 05:35

Here’s Why Cheap Gas Prices May Actually Be a Very BAD Sign for the Economy

You may have filled up with gas recently and did a little happy dance when you saw how low the price was...but this may not be a good sign for our economy.

In fact, it could be downright BAD NEWS. Here's why.

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