ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Apr 13 08:14

U.S. Economy: These Three Data Points Show Growth Has Stopped

If you think the U.S. economy is improving, this story says that, truth be told, it’s the complete opposite for the economy, as recent data suggest there is no growth.

Apr 13 06:48

Martin Armstrong - Big Losses Coming in the Bond Market

Renowned financial analyst Martin Armstrong says you can forget about the U.S. dollar crashing in value. Armstrong contends, “No, that’s absurd. The euro is in terrible shape. The yen is in terrible shape, and honestly, you can’t park money in yuan or Russian rubles, yet. I mean, let’s be realistic here, but eventually--yes.”

Armstrong says the bond market is a different story as the Fed is going to be forced to raise rates. He contends just a few percentage points in rising rates are going to cause big losses and big changes. Armstrong predicts, “People will be losing huge money. We are looking at a few percentage points, and you are going to blow the national debts of all these countries way out of whack, and that’s what’s going to force political change.”

Apr 13 06:03

UK Housing Bubble Bursts: Sales Of Luxury Homes Crash By 80% As "Waves Of Wealthy People Are Leaving"

As the FT reports, "sales of homes worth more than £2m have dropped by 80 per cent in the past year."... "It is like the 1970s again, when waves of wealthy people left Britain and it was a disaster.”

Apr 13 06:01

Bundesbank Warns German Banks To Expect At Least 50% Losses On Austrian "Black Swan"

"German banks should expect to lose at least half of their investments in bonds of Austrian bad bank Heta Asset Resolution AG and make the appropriate provisions... I think this situation has to be taken seriously by the German banks... if I were to put a number on this I would say it should be a minimum of a 50 percent provision for potential losses."

Apr 13 05:59

Costco’s Biggest Business Risk: Concentration

Costco’s latest annual report showed that nearly 32% of it’s annual income is generated in California, with more than 70% of sales coming from the United States.

Apr 12 15:10

The Income Gap Can Harm Your Health

t’s not news that there’s a widening income gap between the richest and poorest people in the United States. But now this income inequality could be affecting people’s health.

Apr 12 12:27

Citi Economist Says Solutions To Current Economic Problems Is To Abolish Cash

The world's central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy.

Apr 12 09:06

United States is facing global economic isolation

Just this week, former Treasury Secretary Larry Summers wrote an eye-opening and scathing op-ed outlining where America stands in the rapidly changing global economy.

Titled ‘Time U.S. leadership woke up to new economic era’, the piece looks at the many ways in which the United States is losing influence around the world to China and other emerging markets, while at the same time becoming increasingly isolated.

Apr 12 09:04

8 Forgotten Survival Skills Your Great Grandparents Used Everyday

Our modern society is highly dependent upon the “system.” Not only do we rely upon utility services to bring us electricity, water and natural gas, but also on an incredibly complex supply chain which provides us with everything from food to computers. Without that supply chain, most of us wouldn’t know what to do.

This situation is actually becoming worse, rather than better. When I compare my generation (I’m in my 50s) to that of my children, I see some striking differences. In my generation it was normal for a boy to grow up learning how to do a wide variety of trade skills from his father, and seemingly everyone knew how to do basic carpentry and mechanic work. But that’s no longer normal.

Apr 12 08:38

46 Ukrainian banks declare insolvency

Dozens of Ukrainian banks have reportedly gone bankrupt over the course of one year, with Kiev having to rely on external funding from the European Union (EU) amid insufficient insurance funds.

Managing Director of the Ukrainian Deposit Insurance Fund Konstantin Woruschilin said 46 banks in the country have declared insolvency, pointing to a number of contributing factors to the high number of bankruptcy, Russia-based Sputnik news agency reported on Saturday.

Woruschilin said the main factor is “the immoral behavior of bank managers,” with a number of cases involving bank employees stealing money for personal purposes.

Other factors were a drop in the country’s exports, a decline in consumption and high production costs, according to the director.

Apr 12 04:06

Markets, Economic Data, & The Ben Bernank

Apr 11 19:58

San Jose commits to end homelessness, lacks 80% of funding, will consider and respond to public banking & monetary reform initiatives

*hyperlinks live at source*

Newly-elected San Jose mayor, Sam Liccardo, committed to end homelessness in his 2015 inaugural address:

We face a crisis of homelessness. But we’re from San Jose. We can and we must leverage the Valley’s incomparable innovative spirit and resources to end homelessness in our lifetimes.

... Innovation, of course, doesn’t come easy. Innovation takes risk, and risk requires courage. Collectively, we must muster the courage:

to try what has been untried;
to open our city’s workings to public scrutiny;
... and, above all, to fail, to learn, and to endeavor again.
... I conclude by extending an invitation to each of you: Join me in re-imagining San Jose.

In his State of the city address, he provided data we confirmed with the mayor’s policy analyst, Dylan Simon:

San Jose has ~4,000 homeless residents.
839 of the San Jose homeless are housed; ~ 20%.

Apr 11 14:05

5 Things To Ponder: Don't Fight The Fed

Apr 11 12:59

Meet The Secretive Group That Runs The World

Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who "control the world." Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing comes closer to the stereotypical, secretive group determining the fate of over 7 billion people, than the Bank of International Settlements, which hides in such plain sight, that few have ever paid much attention.

Apr 11 10:45

Russian Miracle: Ruble becomes world's best performing currency in 2015

The Russian ruble continues its scorching ascent, improving 3% against the dollar and nearly 4% versus the euro, the best performance in over four months

Apr 11 10:22

Walgreens Plans To Close About 200 Stores In The US

Walgreens -the largest drugstore chain United States said Thursday it plans to close about 200 of its branches in the United States as the largest drugstore chain in the country expands its cost reduction plan of 1,000 million dollars, which announced last August.

http://whatisusa.info/walgreens-plans-to-close-about-200-stores-in-the...

Apr 11 09:31

How Robots & Algorithms Are Taking Over

In September 2013, about a year before Nicholas Carr published The Glass Cage: Automation and Us, his chastening meditation on the human future, a pair of Oxford researchers issued a report predicting that nearly half of all jobs in the United States could be lost to machines within the next twenty years. The researchers, Carl Benedikt Frey and Michael Osborne, looked at seven hundred kinds of work and found that of those occupations, among the most susceptible to automation were loan officers, receptionists, paralegals, store clerks, taxi drivers, and security guards. Even computer programmers, the people writing the algorithms that are taking on these tasks, will not be immune. By Frey and Osborne’s calculations, there is about a 50 percent chance that programming, too, will be outsourced to machines within the next two decades.

Apr 11 08:08

Rob Kirby: Debt Problem Destroying Society

Apr 11 07:11

Website calling for corporate tax increases deemed unfit by Alberta election laws

In a press release the Alberta Federation of Labour wrote that the campaign website gave Albertans the opportunity to "explore the various ways in which the provincial government has destroyed the revenue system, and given away billions of dollars to big corporations and to very wealthy individuals."

Or at least, that's what the website was intended to do, before it was shut down.

Since the election was officially announced on Tuesday, April 7, the website has been deemed to be in violation of the Election Finances and Contributions Disclosure Act (EFCDA), which regulates third-party spending during elections.

The Alberta Federation of Labour, which maintains the website, is not allowed to register as a third-party advertiser under these rules.

Apr 11 06:13

New study finds Canada second only to Greece in household debt growth

A new study has found that Canada has, relative to income, seen the second-highest increase in household debt among developed countries since the 2008 recession.

The study, found that Canada is second, only behind Greece on this measurement. The report looked at the growth of household debt between 2007 and 2014.

Apr 11 06:12

Anti-EU Forum Athens

Call for an International Forum (Athens 26-28/6/2015) and the establishment of a European Co-ordination of Left political parties, popular organisations and social movements fighting for exit from the European Union, the euro and NATO.

?n all European Union (EU) countries and especially those belonging to the Eurozone, vicious anti-popular policies are pursued relentlessly by the EU and its member governments: massive cuts in social spending and wages, increasing taxation for the working people and decreasing that for the rich, shameless subsidies to large corporations supposedly to create jobs that never materialize or are short-lived, privatizations and dismantling of public services and social security. The result is an exponential increase in poverty, social inequality, mass unemployment and lack of job security.

Apr 11 06:11

"Odious Debt" Has Finally Arrived: Greece To Write Off "Illegal" Debt

As a reminder, this is what Odious Debt is: In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

Apr 11 05:53

GE to sell bulk of finance unit, return up to $90 billion to investors

The company on Friday outlined a restructuring plan that includes buying back up to $50 billion of its shares, selling about $30 billion in real estate assets over the next two years and divesting more GE Capital operations. GE stock jumped 8.5 percent.

"The stock has been under-owned by institutional investors, and that's going to change now."

(*P.U.)

Apr 10 20:16

Want a 60% instant raise? Monetary reform and public banking deliver ~$3 TRILLION to Americans yearly

*hyperlinks live at source*

“That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt. Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. …But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. …It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people.” - Thomas Edison and Henry Ford, interview with NY Times, 1921

The punchline in my series teaching about what the US uses for money is every US household would receive annual benefits equal to a 60% raise:

Apr 10 17:15

50 Ways To Rig the Markets

Apr 10 16:01

How Wall Street captured Washington’s effort to rein in banks

In the aftermath of the 2008 financial crisis, Keith Higgins was certain: Banks weren’t to blame.

Higgins, a top attorney at prominent law firm Ropes & Gray LLP, was chairman of an American Bar Association committee on securities regulation. As such, he lobbied strenuously against a rule U.S. regulators were drafting that would require banks to disclose a lot more about asset-backed securities like those that had just torpedoed the economy.

Apr 10 15:33

Sears Taps Real Estate Equity

Sears, which owned or leased 1,725 Kmart and Sears stores combined as of January, expects to earn $2.5 billion from the sale.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA