ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 05 09:50

SECRET HOUSE MEMO RELEASED: THE FALLOUT, THE LIES, AND THE BIGGER PICTURE

That’s a lot more spying than three warrants granted by a FISA court to surveil the Trump team. But you’re supposed to look at the warrants and how they were obtained, and not look at the wall-to-wall spying on every American.

You’re supposed to get embroiled in the Republican members of the House Intelligence Committee vs. the Democrat members, as they fling accusations at each other.

You’re not supposed to realize the NSA already has thousands of Trump-related documents, illegally obtained over a long period of time, as well as Obama-related documents, and documents on anybody and everybody who communicates electronically.

Webmaster's Commentary: 

The use of this false information was engineered to create a coup d'etat, and topple the legitimately elected President of the United States, utilizing weaponized disinfo, courtesy of the (alleged) DOJ (Democrat's Office of Juggernauts and FBI. (the Federal Bureau of Political Intrigue).

Thinking Americans should be outraged and disgusted at this travesty, and how it came to be.

The FBI and DOJ should be collectively sacked and reconstructed through the appointment of people who do not allow their political bias affect their work, period, end of discussion.

Feb 05 09:35

Exclusive: U.S. consumer protection official puts Equifax probe on ice - sources

Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax Inc failed to protect the personal data of millions of consumers, according to people familiar with the matter.

Equifax (EFX.N) said in September that hackers stole personal data it had collected on some 143 million Americans. Richard Cordray, then the CFPB director, authorized an investigation that month, said former officials familiar with the probe.

But Cordray resigned in November and was replaced by Mulvaney, President Donald Trump’s budget chief. The CFPB effort against Equifax has sputtered since then, said several government and industry sources, raising questions about how Mulvaney will police a data-warehousing industry that has enormous sway over how much consumers pay to borrow money.

Webmaster's Commentary: 

One has to wonder: has this guy been bribed, or threatened, or has he simply decided that this company is TBTF (too big to fail), should a thorough investigation be allowed?!?

Feb 05 09:31

CHINA TO STAMP OUT CRYPTOCURRENCY TRADING COMPLETELY WITH BAN ON FOREIGN PLATFORMS

China is to block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely.

“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” said an article published on Sunday night by Financial News, a publication affiliated to the People’s Bank of China (PBOC).

The article acknowledged that recent attempts to stamp out digital currencies by shutting down domestic exchanges had failed to completely eradicate trading.

“ICOs and virtual currency trading did not completely withdraw from China following the official ban … after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions.

Webmaster's Commentary: 

It will be interesting to see how well this ban holds,and how it will effect other international traders in this currency which appear to have fully embraced its legitimacy.

Feb 05 09:19

Central Banks Will Disappoint

Feb 05 08:38

German stocks PLUNGE: DAX tumbles at open as Merkel’s coalition talks pass without a deal

THE GERMAN stock market suffered a sharp fall this morning after German Chancellor Angela Merkel’s conservatives and the Social Democrats (SPD) failed to conclude coalition negotiations in time to meet a self-imposed Sunday deadline.

Feb 05 08:36

Secret Price Fixing Among German Carmakers

After numerous scandals in recent years, the German automobile industry is facing scrutiny yet again. This time, VW, Daimler, BMW and Bosch are believed to have colluded on steel price fixing.

Feb 05 08:36

Goldman: Oil to top $80 within six months

Goldman Sachs has held one of the most optimistic views on the re-balancing of the oil market and oil prices in the near term.

The investment bank is now growing even more bullish, predicting that the oil market has likely balanced, and that Brent Crude will reach $82.50 a barrel within six months.

Feb 05 08:15

Dow falls more than 100 points as stocks resume Friday's ugly sell-off

U.S. stocks traded lower on Monday as investors added to Friday's losses amid concerns of rising interest rates.

The Dow Jones industrial average dropped 146 points. The 30-stock index briefly fell more than 300 points at the open.

The S&P 500 fell 0.4 percent, with financials and energy as the worst-performing sectors. The Nasdaq composite slipped 0.15 percent as Facebook, Amazon, Netflix and Alphabet all traded lower. Apple briefly traded lower before rising 1.1 percent.

"We're not used to getting wash-outs like this anymore," said Quincy Krosby, chief market strategist at Prudential Financial. "The buy-the-dip mentality that has taken over hasn't allowed for that."

Webmaster's Commentary: 

Looks like the PPT has stepped in. The Dow has rebounded a bit as of this writing.

Feb 05 07:40

When the markets crash...

Feb 04 11:07

US Sanctions, Baffled Russians, Hot Air and History – The Saker

The paradox: US sanctions – a blessing in disguise?

Now that the the US Treasury has released this “list of marked individuals” (and their families, relatives or associated corporate entities) for potential, unspecified, future sanction, who do you think will freak out most, the Eurasian Sovereignists or the Atlantic Integrationists?

What is absolutely certain is that this latest move by the US is, again, a dream come true for Putin and his supporters, especially right before the elections.

Feb 04 10:17

The 1% Gets A Scare — More To Come?

Feb 04 09:28

Crash of Outsourcing Giant with 70,000 Employees Globally Sparks New Panic

“Not another Carillion,” says UK government to soothe frazzled nerves, as entire industry is teetering.

Feb 04 05:53

Wage Inflation is Finally here, and it’s Toxic for the Fed

Even uber-doves are now looking over their shoulder.

Feb 04 04:59

Bond Panic Spreads

Feb 03 11:41

‘Germany’s most expensive ENEMY!' Backlash at magazine's astonishing attack on Trump

Wirtschaft Woche claims Germany as a business location is “endangered” as a result of Mr Trump’s aggressive tax, trade and monetary policies.

The magazine has been criticised for the tone of its cover story on President Trump.

Klaus Weinmann, founder and CEO of CANCOM an IT service management company, said: “The layout is too negative for me.

“Trump surely doesn't get any sympathy from us.

Feb 03 11:40

Cryptocurrency tumble erases over $100bn from digital currency market

Bitcoin and other digital currencies have lost over $100 billion in value since Thursday. This represents more than 20 percent of the entire crypto market.

Feb 03 11:38

The Ultimate Bear Chart

Feb 03 11:33

Amazon Patents Ultrasonic Tracking Wristbands To Control Workers

Amazon is seeking to boost worker efficiency through a new set of patents squarely aimed at improving its inventory management system using radio frequency based tracking of a worker’s hand to monitor their performance of inventory tasks.

Of course, the only thing more troubling than robots replacing human workers is the idea of robots tracking human workers’ hands, but i) there are profit margins to be optimized and ii) this is the same concept of being under house arrest with an ankle bracelet, it just happens that Amazon wants to put the device on the worker’s wrist.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Feb 03 11:11

PROFESSOR FINDS $21 TRILLION IN UNAUTHORIZED GOVERNMENT SPENDING

A Michigan State University economics professor has discovered $21 trillion unaccounted for in the federal budget starting in 1998 until the end of fiscal year 2015. Professor Mark Skidmore enlisted the help of his graduate students to examine government documents from the Department of Defense and Housing and Urban Development to uncover an unfathomable amount of unauthorized spending.

According to the Constitution, all federal spending must be voted on and authorized by Congress each fiscal year. Any discrepancies found in the way of unauthorized spending would normally elicit a congressional hearing and investigation.

Skidmore and his students’ analysis used publicly available government documents from the two agencies’ websites to expose this inconsistency. Shortly after Skidmore published his findings, both agencies removed those documents from public access.

Feb 03 11:10

The Nuclear Posture Review: The World Will Not Survive the American Neoconservatives’ Doctrine of US World Hegemony

A report from the House Intelligence Committee was released that is proof that the Federal Bureau of Investigation, the Department of Justice (sic), and the Democratic National Committee are engaged in a conspiracy against American democracy and the President of the United States with the full support of the presstitute media.

Webmaster's Commentary: 

I don't know if the NPR scares the crud out of you; but it certainly does for me!!

Feb 03 09:24

Pentagon acknowledges Russia is developing a 'doomsday' nuclear-armed torpedo

Russia is developing a new underwater torpedo with a nuclear warhead described as a “doomsday weapon,” according to a new Defense Department report.

The Pentagon quietly acknowledged that Russia is developing a “Status-6” system for the first time ever on Friday with a 74-page report.

The Nuclear Posture Reviewdescribed a “new intercontinental, nuclear-armed, nuclear-powered, undersea autonomous torpedo,” which could be deployed from beneath a submarine.

But Pavel Podvig, an arms control expert, told NPR the Status-6 system might not even exist.

He floated the possibility that the graphic, showing a non-existent nuclear delivery system, was deliberately included in the broadcast as a ploy for Russia to flex some military might.

But Podvig also warned it might not all be smoke and mirrors. “My best guess is that there is a project to design an underwater vehicle with a purpose, unknown at this point. There is something there,” he told NPR.

Webmaster's Commentary: 

So, the Pentagon's "proof" that this exists is allegedly only a graphic shown on Russian television, with Putin looking on?!?

This is yet another pitiful attempt by the Pentagon to get itself more money, when the money it spends now has virtually no oversight.

Theoretically, the Pentagon will be undergoing its first audit this year.

Pentagon announces its first audit

The article goes on to state: "The Defense Department has famously never been audited, despite receiving hundreds of billions of dollars annually and having more than $2.2 trillion in assets.

To be honest, I do not one more cent spent on the Pentagon until it has undergone a forensic audit which documents where every cent in its budget has gone.

Feb 03 08:42

Long-Term Rates Threatening Regime Change?

Feb 02 15:03

Ending pollution requires a change of attitudes

Graham Peebles says while governments need to take a leading role to stop the pollution that is poisoning our environment, we all need to change the way we think and how we live, if our planet is to survive.>>

Feb 02 13:33

Did The Market Just Get “Woke?”

Feb 02 13:23

DOW PLUNGES 600 POINTS, MORE THAN 2%

Friday marked the first time since June 2016 that the Dow fell at least 500 points.

The major indexes were on track for their worst weekly performance in two years.

Feb 02 11:34

People SELLING Bitcoin and BUYING GOLD

Feb 02 11:14

State Department to Send Ambassador to Singapore to Sell F-35 Warplanes

Starting early next week, the Singapore Airshow is a big place for international arms deals to go down. US arms makers like Lockheed and Raytheon are responsible for some of the largest such deals, but finding buyers isn’t always easy.

The US State Department has apparently decided that selling Lockheed planes isn’t just Lockheed’s job, it’s the American diplomatic corps’ job, and is sending Ambassador Tina Kaidanow to the airshow specifically to drum up sales of the F-35.

The huge, costly Lockheed planes aren’t exactly flying off the shelves, and the State Department says this would be a good test case for the administration’s new policy of having officials take the lead in securing arms sales for major US companies.

Webmaster's Commentary: 

I have to wonder just how Ambassador Kaidanow feels about shilling for one of the US's top Merchants of Death, Lockheed Corpoation!!!

Feb 02 10:45

BoJ Offers To Buy Unlimited Debt, Boosts POMO In Panic Response To Surging Rates

After unexpectedly boosting its bond-buying in the 3-5Y segment of the JGB curve on Tuesday, as global bond yields break ever higher, it appears The Bank of Japan is realizing it is losing control of its yield curve and today unleashed a double-whammy to stifle the bond bears...

Whammy 1 - BoJ offers to buy unlimited 10Y notes at 11bps.

Result - a 0.5bps drop in the JGB yield!!

Feb 02 10:35

THIS Is What Every Stock Market Investor Fears! You Don’t Want To Believe WHAT’S COMING!

When you look at the stock market you will see fraudulent manipulated prices, thanks to central banks.

Feb 02 10:32

ALABAMA COMMITTEE PASSES BILL TO HELP ENCOURAGE USE OF GOLD AND SILVER AS MONEY

An Alabama Senate committee has passed a bill that would exempt the sale of gold and silver bullion from state sales and use tax, encouraging its use and taking the first step toward breaking the Federal Reserve’s monopoly on money.

Sen. Tim Melson (R-Florence) introduced Senate Bill 156 (SB156) on Jan. 11. The legislation would exempt the gross proceeds from the sale of gold, silver, platinum, and palladium bullion in the form of bars, ingots or coins from sales and use tax in the state for five years after the date of enactment.

The Senate Committee on Finance and Taxation Education approved the measure by an 8-4 vote.

A similar bill is moving through the Alabama House.

Webmaster's Commentary: 

IF this bill passes (and I would be willing to bet you that the Federal government will come after this with hammer and tongs, to prevent such a watershed financial moment from moving forward in this country), it will spark other similar bills in other states, which is a good thing.

Feb 02 10:27

US REGULATORS FINE DEUTSCHE BANK $70MN FOR TRYING ‘TO RIG BENCHMARK RATE’

US regulators have fined Deutsche Bank, Germany’s largest lender, $70 million for attempted manipulation of a global benchmark for interest-rate derivatives and other financial instruments, AFP reports.

Webmaster's Commentary: 

But no one goes to jail for signing off on these illegal practices?!?!?

It's good to be a banking exec at Deutsche Bank, because no matter how much you tamper, and play fast and loose with the rates, you'll never have to say you're sorry, and can concentrate on inventing the next scams with impunity.

Feb 02 09:47

Tillerson warns against China, Russia engagement in Americas

Secretary of State Rex Tillerson on Thursday warned countries in the Western Hemisphere to beware of Chinese investment, saying it is reminiscent of European colonialism. He also derided Russia for selling weaponry to unfriendly, authoritarian governments in the region.

Before embarking Thursday on a five-nation trip to Latin America, Tillerson said China seeks only to enrich itself with investment and development projects. He said regional governments should protect themselves against "predatory actors that are now showing up in our hemisphere," specifically mentioning China. He said Chinese investment may look good but comes with a heavy price.

"China, as it does in emerging markets throughout the world, offers the appearance of an attractive path to development, but in reality this often involves trading short-term gains for long-term dependency," Tillerson said in a speech at the University of Texas.

Feb 02 09:34

What’s Driving US Effort to Modernize Its Nuclear Arsenal

(*Trump's Wall Street Stock Market Portfolio ?)

>>>

Feb 02 09:27

Two More Lies by Wall Street

Feb 02 09:24

The Loser Dems – Mike Whitney

It’s time to pull up our big boy pants and face the facts: The Democratic party is NOT a suitable vehicle for the progressive agenda.

The Dems are a party without a leader and without a message. They keep carping about Russia and Trump because they have no convictions, no beliefs, and no fire in the belly. It’s a party of empty suits and phony flannel-mouth politicos. The only thing they’re good at is losing, which is an art they appear to have perfected.

The problem is, that the rest of us are sick of the party’s sad-sack song-and-dance, sick of the excuses, sick of the buck passing, and sick of losing. We want candidates who actually stand for something, who actually believe in something, and who’ll actually fight for something.

Feb 02 09:16

Treasury’s ‘Kremlin Report’ Seen as Targeting Russian Economy

Treasury Dept. has issued a list of some 200 Russians for sanctions, which could impact the whole Russian economy and further exacerbate U.S.-Russian tensions

January 29 had been seen as a kind of “D-Day” in Russia, with anticipation and apprehension building for weeks over what many Russians believed could mark a critical change for the worse in relations with the United States. Russian media pitched their coverage to the country’s elites, who were under the Sword of Damocles of new U.S. sanctions that might be directed against them, but also to the general Russian public, who have watched with uneasiness, concerned over the effects of sanctions on the economy, on their livelihoods and living standards.

>>>

(*REMEMBER: An expanded Pentagon budget , and Our Tax Break have to come from somewhere !)

Feb 02 09:15

Immigrants Sent $140 Billion From U.S. Back To Homelands in 2016

Legal and illegal immigrants wired almost $140 billion from the United States back to their home countries and foreign relatives in 2016.

The huge loss of domestic spending by of immigrants’ remittances is spotlighted in a new report by the Pew Research Center, which also noted that $6.5 billion was sent back to the United States by foreign-based U.S. workers. That is a 21-fold difference and is enough money to support 2.6 million additional $50,000 jobs in the United States.

The remittance number is based on calculations by the World Bank.

Feb 02 09:14

UK: Rough Sleeping Reaches Record Levels While ‘Refugees Welcome’

Rough sleeping has soared to record levels, with nearly 5,000 people — including a large number of veterans — estimated sleeping rough last year in England, while local authorities rolled out the red carpet for refugees.

Local authorities recorded 4,751 people bedded down outside in a single night in autumn, marking a 15 per cent increase on the figure for 2016, according to the latest government figures.

The rise to autumn 2017 is the seventh consecutive increase in rough sleeping, with the number of people affected having more than doubled since comparative records began in 2010.

With 217 people sleeping rough, Westminster was the worst affected by the phenomena, while in second place with 178 rough sleepers recorded was Brighton and Hove, which styles itself a “city of sanctuary” for illegal immigrants and asylum seekers.

Feb 02 09:08

Google's parent company Alphabet is hit by a $3 BILLION loss after reporting disappointing profits due to the high cost of ambitious projects such as self-driving cars

Google's parent company Alphabet has reported lower than expected profits in the last three months of 2017 after higher costs offset an increase in advertising sales.

Revenue for the three months ending December 31 was $32.3 billion (£22.6bn), a rise of 24% on the same period in 2016.

Overall, Alphabet reported a loss of $3 billion (£2.1bn) for the fourth quarter as it set aside $11 billion for taxes - an estimated $9.9 billion (£6.9bn) was for taxes on repatriated earnings.

Excluding the tax provision, Alphabet would have posted a profit of $6.8 billion (£4.7bn), falling short of the $7 billion analysts had predicted.

Feb 02 09:02

The bubble that could break the world

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