ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 01 16:30

(NZ) Business confidence plunge: ASB predicts big rate drop

ASB economists say the latest gloomy business confidence means the Reserve Bank will need to cut interest rates two more times this year.

"With economic momentum continuing to slow, we now expect the RBNZ will cut the OCR twice more, in August and November, bringing the Official Cash Rate (OCR) to 1 per cent," ASB said.

The bank has already cut once this year taking New Zealand's official cash rate to a record low 1.5 per cent.

New Zealand business confidence fell to more than a 10-year low in the June quarter, with manufacturers the gloomiest sector.

*The RBNZ wants Banks to double their capital from 8% to 16% because they know what is coming & the Banks are fighting against it. Makes one wonder why they are fighting it.*

Jul 01 13:38

80% of the stock market is now on autopilot

Jul 01 12:18

A New Tax Warning for Business Owners

Jul 01 12:10

Google: The Monster That Has To Be Destroyed

Google & YouTube have violated the public trust by lying to official representatives

Jul 01 11:57

NORTHROP GRUMMAN USED A FICTITIOUS WAR WITH IRAN TO SELL ITS GLOBAL HAWK DRONE TO THE PENTAGON

More than a decade before Iran shot down a US military RQ-4 Global Hawk surveillance drone on June 20, its manufacturer pitched the Department of Defense on expanding the fleet by presenting a hypothetical conflict with the Islamic Republic.

Jul 01 11:43

Media and Politicians Ignore Oncoming Financial Crisis

The mainstream media was too busy obsessing over Russiagate to notice that, according to an annual Social Security and Medicare Boards of Trustees report, the Social Security trust fund will run out of money by 2035. The trustees also reported that the Medicare Hospital Insurance trust fund will be empty by 2027.

The trustees’ report is actually optimistic. Social Security is completely funded, and Medicare is largely funded, by payroll taxes. Therefore, their revenue fluctuates depending on the employment rate. So, when unemployment inevitably increases, payroll tax revenue will decline, hastening Medicare and Social Security’s bankruptcy.

Jul 01 11:38

"Wealthy" Chicago Households On Hook For $2 Million In Debt Each Under 'Progressive Solution' To Pension Crisis

Chicagoans are buried under so much pension debt it’s impossible to see how their city can avoid a fiscal collapse without major, structural reforms. The futility of paying down those debts becomes obvious when you try to figure out just who’s going to pay for it all.

The total amount of city, county and state retirement debt Chicagoans are on the hook for is $150 billion, based on Moody’s most recent pension data. Split that evenly across the city’s one million-plus households and you arrive at nearly $145,000 per household.

That’s an outrageous amount, but it would be a clean solution if each and every Chicago household could simply absorb $145,000 in government retirement debt. The problem is, most can’t.

One-fifth of Chicagoans live in poverty and nearly half of all Chicago households make less than $50,000 a year. It wouldn’t just be wrong to try and squeeze those Chicagoans further, but pointless. They don’t have the money.

Jul 01 11:37

Blain: "Nothing Was Solved In Osaka - The US And China Remain On Collision Course"

That was truly an extraordinary weekend. Trump vs Xi agreed to resume trade negotiations. No more tariffs, but the old ones still in place. Huawei ban to be reconsidered. Trump also met Kim in the DMZ. It was also the end of H1 2019, with stock markets posting their most impressive gains since 1997 even as bonds proved the top returning assets – which should have everyone wondering and worrying how!

I reckon that puts us in a very interesting position for the next 18 months. Trade wars will remain a major distraction and concern – whatever happened in Osaka over the weekend, about the only thing we can confirm is nothing is really fixed! Instead, the dominant factor in coming months could be the US Federal Reserve – and how it is likely to come under increasing pressure from Trump, who is now in full electioneering mode. That puts a whole new complexion on the Game of Markets.

Jul 01 11:30

Rent Is Becoming Unaffordable For Many U.S. Workers

The National Low Income Housing Coalition has published its latest "Out of Reach" report which shows that renting is becoming increasingly unaffordable for countless Americans.

Its central statistic is the Housing Wage which is an estimate of the hourly wage a full-time worker must earn to rent a homewithout spending more than 30 percent of his or her income on housing costs. As Statista's Niall McCarthy notes, for 2019, the Housing Wage is $22.96 and $18.65 for a modest two and one-bedroom flat respectively based on the "fair market rent".

A worker earning the federal wage would have to put in 127 hours every week - equivalent to more than two full-time jobs - to afford a two-bedroom apartment. It isn't just a regional issue - there isn't a single state, metro area or county in the U.S. where a full-time worker earning the minimum wage can afford to rent a two-bedroom property.

Jul 01 09:46

13-Year-Old Boy Opened a Bakery to Give Pastries Away to the Homeless

By Amanda Froelich

Once or twice each month, the 13-year-old travels from his home in Bowie, Maryland to Washington D.C. where he hands out dozens of baked treats to kids, adults, and families in domestic violence and homeless shelters. The philanthropic teen also works with the Washington D.C.-based nonprofit No Kid Hungry to distribute the pastries...

Jul 01 08:21

Stock Markets Before and After the Trade War

Jul 01 08:18

Best-Case Scenario Has a Worst-Case Twist

Jun 30 18:23

Stocks At RECORD HIGH = No Fed Rate CUT

Jun 30 18:21

AT&T Fires Up Sweat-Inducing 5G in “Sin City” With Plans for 20 More Despite Anticipating More Lawsuits

By B.N. Frank

Last February, telecom executives gave congressional testimony that they could NOT provide any studies that prove that 5G technology is safe. Unfortunately, plenty of research already proves it isn’t.

Not only that – cybersecurity experts, environmentalists, meteorologists, NASA, NOAA, the U.S. Navy, and utility companies have ALL warned that installing 5G everywhere could lead to widespread catastrophic events.

Regardless, AT&T is introducing 5G in more U.S. cities despite this as well as growing 5G opposition and that Americans ARE NOT signing up for it where it’s already been installed.

Jun 30 15:25

DID THE FED ALREADY DECIDE THE 2020 US ELECTION?

As of beginning July 2019 prospects look positive for a re-election of Donald Trump as President in November 2020. Headline stock market and GDP figures all look positive…at the present. The huge unanswered question is whether that can be sustained until the fateful elections. We see signs already that spell potential trouble for the Republicans .

Jun 30 11:15

Another Bill to Multiply Small Cell Towers — S. 3157: Streamline Small Cell Deployment Act

By B.N. Frank

On June 3rd, the Streamline Small Cell Deployment Act S. 3157 was introduced by Sen. John Thune (R-SD) and Sen. Brian Schatz (D-Hi) to make it easier for the Telecom Industry to quickly install countless 4G and 5G small cell towers and infrastructure throughout American suburbs and rural areas.

This includes in front of homes, schools, everywhere. Research has already determined that this is NOT biologically or environmentally safe...

Jun 30 10:45

Are Stocks In A Bear Market?

Jun 30 10:33

Deep in contraction

Jun 30 09:51

What Apple could buy with its cash reserves

Jun 30 08:23

Investment Grade Bonds Could Be Peaking

Jun 30 07:42

The ridiculous return of the Zimbabwe dollar

Jun 30 06:54

The Three-Headed Investment Bandit

Jun 29 13:53

Next Recession Starts March 2020?

Jun 29 12:20

Global earnings revisions

Jun 29 11:45

Prepare For The Day Of Reckoning: The National Debt IS A Worsening Problem

The day of reckoning is coming for the United States’ national debt and it will likely come in the form of a dollar collapse. This is a problem for every single person on the globe and it’s only getting worse.

Jun 29 11:09

Chicago PMI Plunges Into Contraction

Jun 29 10:44

Legal Cannabis Delivery Service in California Becomes First to Accept Bitcoin

Caught Bitcoin fever and now have crypto burning a hole in your virtual wallet? Celebrate the cryptocurrency’s meteoric resurrection by using it to purchase your favorite strain of marijuana or magic brownie.

SpeedWeed, California’s only fully legal cannabis delivery platform, today announced that customers can now use Bitcoin to purchase legal marijuana products from licensed dispensaries and have them delivered directly to their door...

Jun 29 10:42

How did the Fed save stocks in June?

Jun 29 09:45

Why Economic Slowdown Continues

Jun 29 06:26

Is Broad Stock Market Leading Or Lagging?

Jun 28 17:37

A buy and hold approach for 24 years

Jun 28 17:12

Gold Price Signals Next Global Crisis

Jun 28 17:11

Five Ways State Interference Leads to Class Antagonism

By Stefan Kløvning

There actually is a legitimate class antagonism operating in the current economy, though with very different causal mechanisms from what Socialists frequently assume underlie it. It’s not the market, but the State, which spurs class antagonism in the economy, and it does so in numerous ways...

Jun 28 13:26

No, Autos Are Not "Cheaper Now"

Jun 28 12:00

The Fed’s Stealth Stimulus Has Arrived

Jun 28 12:00

American Farmers Are The Casualties Of The Trade War

By Mac Slavo

The United States’ agricultural secretary said that American farmers are the casualties in the trade war with China. “You can’t pay the bills with patriotism,” Sonny Perdue said of the struggles facing farmers stuck in the crossfire of tariffs.

Farmers are struggling with flooding and concerning weather conditions this year which are magnifying their financial problems...

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