ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Mar 08 15:57

Insider Alan Greenspan Warns of Explosive Inflation: “Tinderbox Looking For a Spark”

The reality of the situation is we’re in trouble and Alan Greenspan, arguably one of the most informed insiders on the planet, has implied that it’s more than likely unstoppable:

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Mar 08 12:19

The Punishment for Ignoring Obamacare Penalty Might Surprise You

Now that April 15th is on the horizon, many taxpayers are bracing themselves for the inevitable penalty that will hit them if they don’t sign up for Obamacare. It’s estimated that at least 3 million households may have to pony up 1% of their income, or $95 per adult, if they don’t have insurance; a number which is poised to expand to 2.5% for the 2016 tax year.

However, for all its bluster and intimidating language, the Affordable Care Act might not have any teeth. Recently, a tax expert writing for Forbes noticed that Obamacare, while far-reaching and burdensome in terms of what it demands from the American people, offers little to no repercussion for anyone who would be tempted to avoid it.

Mar 08 12:19

The Existential Economist and Interest Rates

Mar 08 12:18

Opting Out Of The Obamacare Tax: What Happens If You Don't Pay?

Last month, the Obama administration announced that between three and six million households – about 2 to 4 % of taxpayers – would be faced with a penalty (or is it a tax?) at tax time for failing to secure “minimum essential coverage” to comply with the Affordable Care Act (ACA), sometimes referred to as Obamacare.

Webmaster's Commentary: 

Mar 08 12:08

Washington Post: Ukraine unofficially has 272 percent inflation!

Whether this admission is made in the hopes of getting more funding to the Kiev regime or whether its intention is to signal that it is time for everybody to get the hell out of Dodge is anybody’s guess, but I personally am much more inclined to believe the latter version. The WAPO actually says that “it’s hard to overstate how challenged Ukraine is” and “Ukraine’s annual inflation is already 272 percent, and, even worse, is picking up speed. Indeed, its monthly inflation rate is 64.5 percent—which translates to 39,000 percent inflation over a year—more than enough to qualify it for “hyperinflation” status” (read the full article, it is very interesting).

Mar 08 11:08

Finally! The US is busting Israeli banks

Bank Leumi, Israel's second largest bank, admitted late last year to helping its American customers evade income taxes, hide assets, and launder their money back into the United States. The bank agreed to pay $130 million in fines to New York regulators and another $270 million to the federal government, and assist in an ongoing probe of other Israeli banks.

But I know that the FBI and SEC have known about this for decades because I personally flagged it to them in 1989

Webmaster's Commentary: 

A reminder that the rich do not in fact pay their "fair share" of taxes. Taxes are for the slaves to pay!

Mar 08 10:31

Germany Has Had Enough With US Neocons: Berlin "Stunned" At US Desire For War In Ukraine

While Russia's envoy to NATO notes that statements by the deputy head of NATO testify to the fact that the leaders of the bloc want to intervene in Russia’s internal politics, and are "dreaming of Russian Maidan," Washington has a bigger problem... Germany. As Der Spiegel reports, while US President Obama 'supports' Chancellor Merkel's efforts at finding a diplomatic solution to the Ukraine crisis, hawks in Washington seem determined to torpedo Berlin's approach. And NATO's top commander in Europe hasn't been helping either with sources in the Chancellery have referred to Breedlove's comments as "dangerous propaganda."

Mar 08 10:29

UK QE has failed, says quantitative easing inventor

When the UK embarked on quantitative easing (QE) in March 2009, in the aftermath of the Lehman Brothers collapse, the Bank of England was expected to administer a monetary stimulus equal to £50bn, writes Liam Halligan.

Over the past four years, such "extraordinary measures" have extended somewhat more, with the Bank's bond-buying programme now amounting to £375bn - almost eight times the original estimate.

Mar 08 10:15

Heta Damage Spreads in Austrian Downgrades, German Losses

Austria’s decision to wind down Heta Asset Resolution AG sent ripples through the financial system, causing credit rating downgrades in Austria and bank losses in Germany.

Webmaster's Commentary: 

Are the dominoes starting to Fall?

Mar 08 09:12

Rothschild Seeks to Advise Ukraine Bondholders in Debt Talks

Rothschild is seeking to advise Ukraine’s bondholders in restructuring talks with a government struggling to avert default after a year of fighting with rebels crippled its economy. The company’s Paris-based sovereign advisory team has been in contact with creditors, Giovanni Salvetti, who handles central and eastern Europe and the Commonwealth of Independent States. Bondholders are bracing for harsh terms as the looming debt revamp drove the nation’s $2.6 billion of notes due in July 2017 below 50 cents to the dollar since mid-February.
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Mar 08 06:45

US National Debt: A Ticking Time Bomb

Mar 08 05:34

Inflation in advanced economies

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Mar 07 10:47

Marc Faber on China's Global Gold Currency

Mar 07 09:42

Rich Flee En Masse To Underground Bunkers

Mar 07 09:41

US Takes New Accounting Extraordinary Measures To Avoid Debt Ceiling

The US Treasury Secretary, Jack Lew, announced the adoption of accounting “extraordinary measures” to prevent reached again the debt ceiling when the March 16 completed the extension granted in 2014 by Congress.

“Raising the debt ceiling does not authorize new spending commitments. It simply allows the government to pay for expenses that Congress has already approved, and thus protects the creditworthiness of the US,” Lew said in a letter to the president of the Chamber of Representatives, Republican John Boehner.

Read More: http://whatisusa.info/us-takes-new-accounting-extraordinary-measures-t...

Mar 07 09:39

Alan Greenspan Warns Stocks Are "Without Doubt Extremely Overvalued"

While America 'believes' it is highly productive, former Fed Chair Alan Greenspan instantly dispels that myth in another ominous appearance on CNBC this morning, "American productivity has gone nowhere in the last few years," and that is what is holding back wage growth. Furthermore, reiterating his concerns about the inverse relationship between surging entitlements and weak savings rates, Greenspan noted, "the annual rate of increase in entitlements of 9% per year...and the people that receive it believe they are getting their money back and have a right to it." There simply is no long-term investment as businesses favor short-term actions as the Maestro explains Fed QE lowering the real rate of interest "has been responsible for the rise in P/E multiples... and when rates normalize, that will reverse," adding that "we can't argue that we are extremely overvalued in the marketplace."

Mar 07 09:37

Lord Rothschild Warns Investors: "Geopolitical Situation Most Dangerous Since WWII"

For Lord Rothschild, preserving wealth has "become increasingly difficult," recently, as he warns, rather ominously, "we are faced with a geopolitical situation as dangerous as any we have faced since World War II." Furthermore Lord Rothschild summarizes his thoughts briefly, eloquently, and ominously... as he touches on the global debasement of fiat currencies, disappointing growth (in light of massive monetary stimulus), and extreme stock market valuations. As Rothschild Wealth Management noted last year, equities are not well supported by current valuations, while monetary policy is limited by high debt levels and interest rates that are already close to zero... exposing equities to a potentially sharp correction.

Mar 07 09:29

Austerity Ireland: Thousands to protest national broadcaster’s ‘biased reporting’

Thousands of anti-austerity campaigners are expected to gather outside the headquarters of RTÉ, Ireland's national broadcaster, on Saturday to protest against what they say is biased reporting that represents the interests of a marginal elite.

Mar 07 09:14

Time Bomb: China's Debt Is Out of Control

Mar 07 09:12

Apple Will Replace AT & T In The Dow Jones Industrial

The US computer giant Apple will make its entry in the Dow Jones, the star of the New York Stock Exchange which includes 30 companies index, announced Friday administrator of this platform to exchange shares.

Apple replaced from March 19 to telecommunications group AT & T, according to a statement highlights the France Press Agency.

This decision will increase the weight of the technology sector in the index as Apple joins Microsoft, IBM, Intel and Cisco, says the paper.

Read More: http://whatisusa.info/apple-will-replace-at-t-in-the-dow-jones-industr...

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Mar 07 07:54

Toronto Star: Harper's terror fixation draws attention from Canada's failing economy

Two issues dominate Canadian politics. One is talked about. The other is not.

The one talked about is terrorism. It is the topic of the day.

Politicians furiously debate the government’s new anti-terror bill. Does it go too far? Would it do any good if passed?

Or, perversely, would it make matters worse?

The issue that is not much talked about any more — at least by Prime Minister Stephen Harper’s Conservative government — is the economy.

At a fundamental level, the economy is failing. Any number of studies point to this fact. The latest was released this week by the Canadian Imperial Bank of Commerce.

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Mar 07 07:22

Global Dollar Risk Rising

Mar 07 07:16

VIDEO: How ADHD Is Linked To A Failing Education System

Robinson believes that ADHD is a by-product of this chaos, pointing out that the condition “has risen in parallel with the growth of standardized testing”. He questions whether the children who are being prescribed Ritalin to calm them down aren’t simply being anesthetized instead, adding that a focus on the arts (being present and fully alive) would be a much better solution to the problem of boredom and fidgeting in class. “Anesthetics shut your senses off and deaden them,” says Robinson. “We shouldn’t be putting [children] to sleep; we should be waking them up.”

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Mar 07 06:58

German Recovery? Don't Bet on It

For those impatient to proclaim a Western recovery, this Reuters article is for you. It tries to make the case that the numbers are finally turning favorable for Germany and perhaps for parts of Europe as well.

We can't help recall the talks of green shoots some four years ago, or the constant din of recovery predictions that have been proffered in the mainstream media since then. We observed around that time that there likely would be no real recovery, only an upward surge of securities mart averages in the US and abroad as central banks pumped money into the financial sector while pretending that its Keynesian stimulation would benefit the working class.

Mar 07 06:51

Beware of Savior Merkel

A few days ago, The International New York Times published an interesting op-ed by German journalist Jochen Bittner, who is a political editor at the staunch pro-American newspaper Die Zeit and a contributing opinion writer for The International New York Times.

If you read Bittner’s article, you will understand why other journalists are wondering which drugs the guys at Die Zeit are taking.

Bittner is worried that “our enlightened societies” suffer from an “autoimmune disease.” This is evident from the reluctance to support a war against Russia, the widespread opposition to the Transatlantic Trade and Investment Partnership (TTIP) and the election of an “anti-globalization” government in Greece.

Thus, the German journalist comes to the conclusion that the West urgently needs “a dose of the Kennedy spirit.” And according to Bittner, there is only one Western leader left who has what it takes to save us:

Mar 07 06:49

Assets of Two Russian Banks Frozen in US

The Wall Street Journal reported that banks controlled by three billionaire friends of Russian President Vladimir Putin had seen about $640 million of assets frozen in the US

Mar 07 06:07

"If you're unemployed, it's not because there isn't any work."

WEBMASTER ADDITION: Any moment I'll start getting complaints that this is "Communist" thinking. But it does seem to make sense.

Mar 07 05:52

Washington Yanks British Bulldog into Line

The gross interference by Washington in Britain’s forthcoming election on the vital issue of budgetary priorities clearly demonstrates that British «democracy» is but an appendage to an American leash. And the leash is being yanked to pull the snarling bulldog into line.

In a brazen show of bringing-to-heel in their «special relationship», American political and Pentagon chiefs are openly rebuking the British government to maintain its huge military spend on the NATO alliance – to the possible detriment of already withering public services in austerity-clobbered Britain. The imposition by Washington raises serious questions about the nature of democracy in Britain – the self-proclaimed «Mother of all Parliaments».

Mar 07 05:44

Bibi Joffrey and the Flower of Zion

The walls are thick and strong beyond imagining, but the elders who sleep in the bowels of Zion know that this rumbling at their foundation marks well their inevitable fall.

The first great stone has hit the ramparts of Zion. The elders within the walls, down in the bowels of the fortress, have sat bolt upright, as they have felt the unmistakable rumbling vibration. Their eyes, which are usually narrow with the self-regard of the power of their own devious cunning, have suddenly gone wide with fear, as instantly they know that the inevitable has arrived upon them.

As another great stone finds the wall, and shakes the very air, these elders fly from their beds with great alarm.
The walls are thick and strong beyond imagining, but the elders who sleep in the bowels of Zion know that this rumbling at their foundation marks well their inevitable fall.

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Mar 06 16:59

World economy: Abandon ship?

Mar 06 16:46

Jews and Moneylending: A Contemporary Case File

Some things never change, and one of these things seems to be the Jewish connection to usury. During a recent conversation with a good friend who now finds himself at the sharp end of the financial downturn, he mentioned having been forced to turn to the ‘services” of what has become known as a “payday loan” company. The relatively small, short-term, unsecured loans offered by these companies, to those struggling to hold onto the socio-economic ladder, very often come with eye-watering rates of interest.

Mar 06 16:41

Currencies vs. US $ since last July:

Mar 06 16:28

Quantitative easing imminent as ECB boss Mario Draghi fires €1.1trn starting gun

The European Central Bank boss Mario Draghi declared an end in sight to the eurozone’s economic woes yesterday as he prepared to fire the starting gun on a €1.1trn (£798bn) quantitative easing programme within days.

Mar 06 16:21

Greece Proposes To Become A Tax-Collecting Police State: Will "Wire" Tourists And Unleash Them As "Tax Inspectors"

"We propose the following: that large numbers of non-professional inspectors are hired on a strictly short-term, casual basis (no longer than two months, and without any prospect of being rehired) to pose, after some basic The very 'news' that thousands of casual "onlookers" are everywhere, bearing audio and video recording equipment on behalf of the tax authorities, has the capacity to shift attitudes very quickly, spreading a sense of justice across society and engendering a new tax compliance culture - especially if combined with the appropriate communication of the simple message that the time has come for everyone to share the burden of public services and goods."

- Yanis Varoufakis

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