ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Jan 14 08:15

Obama targets oil and gas industry, demands massive reduction in methane emissions

Taking direct aim at the oil-and-gas industry, President Obama on Wednesday put forth long-awaited regulations on methane emissions, setting an ambitious goal of reducing those emissions by 45 percent over the next decade.

The move comes just days before the State of the Union address and underscores that, in the final two years of presidency, Mr. Obama is looking to cement his legacy on climate-change and environmental issues.

Webmaster's Commentary: 

It's a laudable goal but Obama's timing sucks. Right now the entire oil industry is being hammered by this ill-conceived oil price war against Russia. The very last thing they need is a whole new raft of "Obamaoil" regulations that will escalate costs, all in the name of controlling climate change, which changes no matter what we humans do. Methane in the atmosphere does not persist. In the presence of oxygen it decomposes to water and carbon dioxide, the first being what we need to live and the latter being what plants need to live. This underscores an observation I have been making all along; that the quality of thinking in this administration is rather poor. Policy decisions are being made for political (and in this case historical) reasons but are not thought all the way through to find potential negative consequences!

Jan 14 07:46

US retail sales weak, cast a cloud on consumer spending

A gauge of U.S. consumer spending unexpectedly fell in December as demand fell almost across the board, but that is probably not the start of a weak trend given lower gasoline prices and a firming labor market.

The Commerce Department said on Wednesday retail sales excluding automobiles, gasoline, building materials and food services fell 0.4 percent last month after a 0.6 percent rise in November.

Jan 13 12:18

Stocks surge as Dow up more than 200 points

Webmaster's Commentary: 

There was a huge upshove at the opening bell, but as of midday, it's already falling off again, as of this writing, down -129 and dropping. Investors are no longer viewing PPT manipulations as a signal to buy, but as a signal to sell!

Jan 13 10:35

Andrew Hoffman – The Whole World is Falling Apart

If you follow the markets and you follow the unemployment numbers–they go hand-in-hand in my opinion–then you know the unemployment numbers from Friday January 9 were a complete joke. Once you drill down, just slightly below the surface, you begin to see the actual numbers and not the numbers designed to get Steve Liesman over at CNBC giggling like a little girl and tell everyone about the rainbow-spewing unicorns that greeted him this morning.

Webmaster's Commentary: 

Jan 13 10:27

Homebuilders Plunge From First To Worst As 'Efficient Stock Market' Wrong Again

But, but, but... homebuilder stocks were surging early on - just like they did at one point yesterday - proving that 'they' know something right? Right? Homebuilders are now the biggest losers - down 3% from the highs - as KB Home's conference call slashes guidance, pulls land deals, and expects margin compression...

Jan 13 09:28

Deflation and Central Bank Delusions

Is it sensible to pay insolvent banks to hold your currency? Negative interest rates are now common.

Is it sensible to lend your savings to insolvent governments for 10 years at 2% interest or less when history shows us that the purchasing power of the currency will decrease far more than 2% per year?

Is it sensible that the time value of currency is effectively zero? Zero or negative interest rates are not a sign of economic health.

Jan 13 08:16

Press Release: The World Bank and the IMF Open up Ukraine to Western Interests

A new report from the Oakland Institute, Walking on the West Side: the World Bank and the IMF in the Ukraine Conflict,exposes how the international financial institutions swooped in on the heels of the political upheaval and are vying to deregulate and throw open Ukraine’s vast agricultural sector to foreign investors. Former Ukrainian President Viktor Yanukovych’s rejection of an EU Association agreement in favor of a Russian deal was a major factor in the crisis that led to his ouster in February 2014. Immediately following the change to a pro-EU government, the country’s pivot to the West was solidified with a $17 billion loan from the International Monetary Fund (IMF) and an additional $3.5 billion aid package from the World Bank, both of which require significant economic reforms and austerity measures that are set to have disastrous effects within the nation.

Jan 13 08:15

Ukraine Agreed to a Monsanto “Land Grab” to Get a $17 Billion Loan from the International Monetary Fund (IMF)

The World Bank and International Monetary Fund (IMF) is helping biotech run the latest war in Ukraine. Make no mistake that what is happening in the Ukraine now is deeply tied to the interests of Monsanto, Dow, Bayer, and other big players in the poison food game.

Monsanto has an office in Ukraine. While this does not shout ‘culpability’ from every corner, it is no different than the US military’s habit to place bases in places that they want to gain political control. The opening of this office coincided with land grabs with loans from the IMF and World Bank to one of the world’s most hated corporations – all in support of their biotech takeover.

Jan 13 07:37

2,000 jobs threatened as United mulls outsourcing at US airports

Parent company’s stock has underperformed Delta, where there is less union representation.

Jan 13 07:25

Scientists join Elon Musk & Stephen Hawking, warn of dangerous AI

Hundreds of leading scientists and technologists have joined Stephen Hawking and Elon Musk in warning of the potential dangers of sophisticated artificial intelligence, signing an open letter calling for research on how to avoid harming humanity.

Webmaster's Commentary: 

Jan 12 13:41

US fast-food chain Carl's Jr. closes restaurants in Russia

California-based fast-food chain Carl's Jr. announced on Monday plans to shut down more than 30 outlets in three Russian cities amid a volatile economic environment.

Jan 12 11:36

Big oil stocks send Dow tumbling

The eurozone euphoria that is driven by quantitative easing talk is not felt in London as natural resource stocks weigh on the British market.

Oil and mining stocks are leading the FTSE 100 lower as turmoil in the commodity markets has taken the shine off the European Central Bank easing chatter.

Jan 12 11:23

Ditching the Dollar

One of the symptoms of a declining empire is that it becomes less and less productive and therefore less relevant to other countries. Any empire, whilst in its prime, will have a strong currency. As its productive relevance declines, so will its currency. Invariably, its leaders attempt to keep the currency strong, in spite of the decline in national relevance. Rather than return to a more productive condition, the empire almost invariably resorts to force.

The US has been unusually forceful in this regard. In order to retain the dollar as the currency upon which oil is denominated and paid for, the US has attacked countries (Iraq, Libya) when their leaders have announced that they will, in future, accept other currencies or gold as payment for oil.

Jan 12 07:59

Obama Lied About His Intent to Prosecute Wall Street Banksters

Two recent reports show that Obama and his Administration lied when they promised to prosecute Wall Street executives who had cheated outside investors and deceived homebuyers when selling mortgages to them.

Jan 12 07:58

Indiana town moves to seize over 350 homes to make room for private developer

A town is working to “demolish a working-class neighborhood” by seizing 354 homes and passing the land off to a private commercial developer. Using federal dollars and the highly-abused power of eminent domain, the city intends to evict multitudes of families to make way for economic progress.

The community under fire is called “Pleasant Ridge.” It contains hundreds of small homes that were built during World War II as military housing. Today the homes are privately-owned and contain working-class and poor families, many of which have owned their homes for decades.

The City of Charlestown intends to demolish the community in order to allow new commercial and residential real estate to be built in its place — privately-owned real estate.

Jan 12 07:24

New study paints bleak picture of manufacturing rebound

One of the most encouraging aspects of the U.S. economic recovery is the halo effect on manufacturing, which accounts for 1 in 6 private-sector jobs. Yet a new study is dismissing that renaissance as little more than a "myth."

Jan 11 09:45

Fox news host makes joke about being homeless

Jan 11 09:43

Central Bankers Push The Recovery Illusion Before The False Flag Event

Jan 09 16:18

Cantor Fitzgerald: Apple Watch Will Be Biggest Product Launch In Company's History

Even after having a super holiday season sales, shares of Apple Inc. AAPL 0.11% have witnessed significant declines. However, Cantor Fitzgerald analyst Brian White thinks that the going will be great for Apple in 2015, especially after the Apple Watch release.

Webmaster's Commentary: 

They said the same thing about Google Glass.

Jan 09 11:24

Russia and China: The Dawning of a New Monetary System?

China, leading member of the BRICS, is lining up the bloc of the BRICS and that of the SCO – and their currencies – to support Russia in need. Currency swaps between Russia (ruble) and China (yuan) for an initial US$ 25 billion equivalent have already been implemented, to allow direct transactions between the two countries. Similar swaps are under way between China and Russia with other countries, primarily the BRICS and the SCO (Shanghai Cooperation Organization) members – including the soon to become new members – Iran, Pakistan, India (also a BRICS member) and Mongolia – and possibly in some not too distant future also strategically located NATO member Turkey.

Jan 09 10:34

Coca-Cola to Cut 1,600-1,800 Jobs Globally

oca-Cola Co. is axing at least 1,600 white-collar jobs globally as part of a cost-cutting move in response to sluggish soda sales.

Jan 09 09:52

Euro sinks to fresh nine-year low

The euro has hit a fresh nine-year low against the dollar, in part after a surprise decrease in German manufacturing.

Jan 09 08:04

How Goldman Sachs May Provoke Yet Another Major Financial Crisis

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday”if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

Jan 09 07:49

"Europe Can't Afford A Greek Exit" German Opposition Warns Merkel Is "Playing With Fire"

The mainstream media narrative - that Germany is ready and prepared for Grexit and that it is no longer a threat to financial stability - is all hype, according to German opposition finance minister Joachim Poss. As Bloomberg reports, all that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. Simply put, the potential for Euro instability from a Grexit is a detriment to Germany's massive benefits from the single currency - "Europe can’t afford a Greek exit," Poss concludes, complacency by Merkel is "playing with fire."

Jan 09 07:25

‘I can fix EU problem’: Cameron in Merkel reform talks

British Prime Minister David Cameron says he is “convinced” he can mend the relationship between Britain and the EU, as pressure grows to call a referendum on UK membership.

Jan 09 07:24

IMF mission resumes work in Ukraine

An IMF mission has arrived in Ukraine to resume talks on providing financial assistance to the country, which is on the brink of default. The IMF estimates Kiev needs an extra $15 billion of aid to overcome the crisis.

Webmaster's Commentary: 

"Bend over and spread 'em, Vlad!"

Jan 08 15:43

Russia Blamed, US Taxpayers on the Hook, as Fracking Boom Collapses

As Congress removes restrictions on taxpayers bailing out the too-big-to-fail banks, the right is blaming environmentalists and Russia for the demise of the fracking boom. In reality, the banks' junk bonds and derivatives have flooded Wall Street, and now the fracking bubble threatens another financial crisis.

Jan 08 14:44

House passes 40-hour workweek for Obamacare; Dems buck Obama veto threat

The House passed a bill Thursday that defines full-time work under Obamacare as a traditional 40 hours, with a dozen Democrats choosing to rebuff President Obama’s veto threat before the measure heads for a tougher test in the Senate.

Jan 08 13:44

Mark Levin warns: Obama preparing country for coup against Constitution

Earlier this week, conservative talk show host Mark Levin warned that Barack Obama is campaigning and preparing the country for what amounts to a coup against the Constitution over the debt ceiling, Breitbart.com reported Sunday.

Levin said that it's clear Obama has moved on from the shutdown and is now focused on the debt ceiling, paving the way for low-information liberals to support him as he bypasses Congress and unilaterally seizes control of the nation’s economy, Dr. Susan Berry wrote..

Webmaster's Commentary: 

Jan 08 13:39

Putin’s Opportunity to Bust the US Petro Dollar

President Putin is known to be a master at Martial Arts and appears to be using the principles of Ju-Jitsu to topple the Western Banks, especially in regard to his support of the BRICS Development Bank.

brics-logo-320x116The new BRICS Development Bank is now up and running now, is part of his master chess strategy, and is known to be seriously stressing the US Petro Dollar.

The BRICS Banking System is known to be based on Gold, Silver and real commodities unlike the Rothschild’s largest Franchisee the Federal Reserve System.

Jan 08 12:56

Scotiabank Warns The Fed "Put" Is Now Much Further Out-Of-The-Money

The brilliant Mel Brooks 1974 parody Young Frankenstein ranks No. 28 on Total Film magazine’s list of all-time funniest movies. When QE-infinity was first announced, I drew analogous similarities between the monstrous experiments of Dr. Frankenstein (Dr. F) and the Fed.

In the movie, it was only after the monster went berserk that Dr. F (Gene Wilder) learned that Igor had snatched the “Abby Normal” brain. Clearly, even the most well-intentioned experiments can have unintended consequences. In this vein, the Fed created a financial market monster via six years of ‘pedal to the metal’ Fed stimulus designed to encourage risk-taking and speculation, and like Dr. F, the Fed was confident it had the tools to control it. Unfortunately, history will likely view QE- infinity as the “Abby-Normal” brain that sent its grand experiment awry.

Jan 08 12:56

Saudi War On Shale Goes Nuclear - "No Chance OPEC Will Cut Output" Even With Brent Under $50

For those hoping that the recent brief dip in Brent crude below $50 - most notably Venezuela's intrepid socialist leader Nicolas Maduro whose numbered days get shorter with every day Brent closes red, and countless bondholders of junk- debt capitalized shale companies - would mean that Saudi Arabia's vendetta against OPEC would finally be put on hiatus, we have bad news: the vendetta just wen nuclear because as Reuters reports, there is "no chance of OPEC output cut."

As Reuters further adds, Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, despite Brent's dip below $50 a barrel this week, where it is surely headed once again in the coming days.

Jan 08 12:23

FORT KNOX: Tainted With Radioactive Gold?

Workers used hammers and acetylene torches to strip away bits of gold and other metals from the warheads’ corrosion-proof plating and circuitry. Useless parts were dumped into trenches. But the gold – some of it still radioactive – was tossed into a smelter and molded into shiny ingots.

Exactly what happened next is one of the most intriguing questions to arise from a workers’ lawsuit against the former operators of the U.S.-owned uranium plant in western Kentucky. Three employees contend that the plant failed for years to properly screen gold and other metals for radioactivity. Some metals, they say, may have been highly radioactive when they left Paducah, bound perhaps for private markets.

Webmaster's Commentary: 

"So all you nations asking for your gold back; you should shut up, because we are saving your lives by not sending it back to you!" -- Official White Horse Souse

Jan 08 12:17

Coke To Fire 1800, Caterpillar Laying Off 200

Stocks are up nearly 2% today alone, with the S&P back to green for 2015. Among the reasons for today's rally: lower overhead courtesy of KO and CAT, which announced that between the two of them, they would fire some 2,000 workers, which is great news for stocks if not for actual employees as there will be even more dry powder for another record quarter of stock buybacks.

Jan 08 11:31

Obamacare causing massive wave of hospital closures across USA

A number of acute-care hospitals closed across the United States last year -- 18 to be exact -- and experts who see a raft of new regulatory processes being heaped upon the healthcare industry in the coming years, thanks to the Affordable Care Act, believe that a wave of additional closures are ahead.

Jan 08 11:31

Russia to Lease Bomber Jets to Argentina. Deal Spooks UK

Russia replaced EU food imports with those from Argentina. It will partly pay for them by leasing a squadron of Su-24 attack aircraft

Webmaster's Commentary: 

Another unforeseen consequence of the oil price wars!

Jan 08 09:41

$200 bn in debt looms over American oil and gas

Plummeting Brent oil prices are putting pressure on North American shale, which has sunk hundreds of billions of dollars into investment, and could soon come crashing down.

Jan 08 09:21

Delaware man's Christmas gift to 5 homeless people thwarted

A Delaware man says he's devastated after a luxury hotel thwarted his plan to give five homeless people a warm bed and a hot shower on Christmas night.

Matt Senge of Newark tells WDEL-AM (http://bit.ly/1yEKsoR ) he booked a two-bedroom suite at the Hotel du Pont in Wilmington for $639 on Christmas and told hotel managers and the reservation clerk about the gift.

He says everyone was enthusiastic and supportive, and that he got an email confirmation about the room. But three hours before check-in - after Senge told the homeless people about the gift - Senge says the hotel called to say the reservation was canceled because of safety concerns for other guests.

Jan 08 09:21

2015: Everything Can Be Fixed By Printing More Money

It is tiresomely obvious that we live in an era dominated by the idea that virtually all economic difficulties can be fixed by printing more money. There are various means of distributing the new money, but the dominant ideology is really very simple:whatever the problem might be, the solution is to print more money and/or issue more credit.

If the problem persists, clearly, we didn't print enough money/credit.

Jan 08 09:16

Did The World's Biggest Hedge Fund Just Go "All In" On HFT And Dark Pools?

Is the world's biggest hedge fund going all-in on HFT and Dark Pools? We ask because Ray Dalio's Westport, CT-based Bridgewater, which at last check manages around $160 billion between its Pure Alpha and All Weather fund products, and which according to preliminary data had a solid performance in 2014, has just hired Jose Marques, the former global head of the quant and algo-heavy electronic trading at Deutsche Bank, to become Bridgewater's new head of trading.

Jan 08 09:14

Eurozone Falls Into Deflation; ECB About to Do Something Stupid

Economists are in shock over what should be a welcome event. Deflation is exactly what consumers need. Some say this increases the likelihood the ECB will act on January 22.

Actually, it does nothing of the kind. The ECB is already 100% certain to do something counterproductive, and odds cannot exceed 100%.

Jan 08 09:14

U.S. Government/Central Bankers Using False Flags To Keep Coalition Countries In Line

Jan 08 08:32

62% of Americans can't cover unexpected expenses

Car accidents, unexpected medical bills, an emergency plumber visit—there are all sorts of events that can interfere with even the best budget plans.

But according to a study released Wednesday, more than 60 percent of Americans do not have enough rainy day funds set aside to deal with even minor calamities.

Jan 07 21:35

France to make a choice between NATO and Russia

France faces a tough decision to either deliver two Mistral ships to Russia and face the anger of its NATO allies, or to terminate the Mistral deal, paying a heavy price and further deteriorating its economy

Jan 07 16:46

The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming

"There are too many ugly balance sheets," warns one energy industry analyst, adding simply that "the group is not positioned for this downturn." While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various 'statistics' about how the down-side of low oil prices is 'contained' and the huge colossal massive tax cut means 'everything is awesome' for America, the data - and now actions - do not bear this out. Macro data has done nothing but disappoint and now, we have the first casualty of the shale oil leverage debacle as WSJ reports, on Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come...

Jan 07 14:29

Target to close Northland Center store in Metro Detroit; mall on DeadMalls.com endangered list

The Target Corporation has plans to close a store Feb. 1 that's part of a Metro Detroit mall that's on DeadMalls.com's endangered list.

Jan 07 13:25

WORLD WAR III: Anglo-American Axis vs. BRICS Alliance

The current economic and currency crisis in Russia isn’t your typical economic crisis. That is, this isn’t just a part of the business cycle. And it isn’t something that is happening because demand for oil is up or the supply of oil is down.

This is a two-pronged attack by the U.S. — and it is a desperate one, at that.

Jan 07 10:55

ALL WARS ARE BANKERS' WARS!

"If my sons did not want wars, there would be none." -- Gutle Schnaper, wife of Mayer Amschel Rothschild and mother of his five sons

Webmaster's Commentary: 

Today's shooting in Paris has all the hallmarks of another government false-flag to revive the war fever in the minds of those who will pay and die for it, so I figured it was time for a repost of this article.

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Jan 07 09:35

Russia faces 'perfect storm' as reserves vanish and derivatives flash default warnings

BNP Paribas says Russia no longer has enough reserves to cover external debt and enters this crisis 'twice as levered' as it was before the Lehman crash

Jan 07 09:32

Poor $87 Billion Boeing Fears Losing Sales If Feds Stop Helping Them Out

Boeing is concerned that its long-term sales will suffer if conservative Republicans succeed in killing the Export-Import Bank this year.

Jan 07 09:32

FLASHBACK 2005 - RUSSIA PAID OFF ITS DEBT TO IMF AHEAD OF SCHEDULE

Russia has paid off the entire amount of its debt to the International Monetary Fund (IMF) ahead of schedule, announced Russian Finance Minister Alexei Kudrin during a press conference at RIA Novosti on Tuesday.

"In accordance with a directive of the Russian government we paid off Russian foreign debt to the IMF in the amount of $3.3 billion. The sum has been transferred and we are no longer IMF debtors," he said

Webmaster's Commentary: 

So why is corporate media screaming about how much debt Russia is in?

Jan 07 09:08

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Webmaster's Commentary: 

I just hope that the head of this opposition party, Alexis Tsipras, is wearing his Kevlar undies these days.

The real danger here is not Greece pulling out of the EU, but the way in which it will trigger credit default swaps, which could have a global impact, crashing the Euro.

Jan 07 09:04

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Jan 07 09:01

You can’t make this up: Harvard professors in “uproar” after learning Obamacare applies to them

For years, Harvard’s experts on health economics and policy have advised presidents and Congress on how to provide health benefits to the nation at a reasonable cost. But those remedies will now be applied to the Harvard faculty, and the professors are in an uproar.

Jan 07 07:51

The Economies Of The Private Western Central Bank Countries Are Showing Signs Of Collapse

Euro zone is slowing and heading for a deep depression. France is desperate thinking about selling artwork.Iceland to withdraw EU application. Factory orders decline again.Malls closing down across country. White House implement a gas tax.U.S. Senator Bernie Sanders demands to read the TPP. Harvard Obamacare architects furious that they need to take Obamacare. South Korea claims NK has nuclear weapons that can reach US. U.S. training FSA to fight Assad not Islamic State. Governments catching on that the US is dropping supplies for the Islamic State.

Jan 07 07:08

Ontario auditor breaks new ground with review of public-private partnerships

Lysyk's report found that the use of public-private partnerships (P3s) had cost Ontarians $8 billion more than they would have paid if the projects had been financed with traditional public funding.

Jan 07 07:06

Fed-Propped Oil Prices Tumble. Stocks and Real Estate Next.

Jan 06 17:12

Financial Trickery Keeps This System Afloat… For Now…

We have long suspected that the multi trillion dollar derivative complex will be the proverbial straw that breaks the camel’s back. Although the financial trickery may still have years left of smoke and mirrors display, the moment of reckoning is palpable for many of us. Phantom assets are liabilities. This includes any ‘money’ locked up in the system. Once the markets collapse and layoffs surge (heaven forbid hyper-inflation), mainstream America will be begging for tax free government bonds in exchange for their retirement accounts and a system bailout. Protect yourself accordingly...

Jan 06 13:07

The American Dream no longer involves owning a home: Record number of young living at home and rents increase while income falls.

Many Americans are now sour to the notion of owning a home. How many young adults lost their homes or saw their parents struggle to make the monthly mortgage payment? The mindless banter of “housing never goes down” is now lost on this current generation. What is interesting is that home values have gone up, rents have gone up, but the overall homeownership rate has fallen in line with incomes. And of course, rents are being jacked up while incomes flutter.

Jan 06 13:06

American Winter

"Using a mix of hard facts and personal stories, American Winter is too compelling to ignore." - Indiewire

"Wrenching" - Washington Post

"Finally, a movie has arrived that shows the precariousness of the US economy for the majority of Americans, refusing to distinguish between a deserving and non-deserving poor" - Greg Kaufman, The Nation

“...A very vivid snapshot of what life was like for many formerly middle-class families. Families that, amid the deepest valley of the economic downturn, were having trouble keeping it all together." - APM's Marketplace

"Powerful and timely" - NBC's In Plain Sight

"A thoughtful and confrontational exploration of poverty" - Daily Kos

Webmaster's Commentary: 

Claire and I stumbled across this documentary last night, and it is everything the above quotes say it is. This is a film you must watch, and show to anyone who still thinks America is the greatest nation on Earth. That Americans are being forced to live like this by the money-junkies underscores everything that has gone wrong with the Federal Government.

Jan 06 12:59

Under Obama: Federal Debt Up $84,266 Per Full-Time Private-Sector Worker

The federal government drove $789,473,350,613.20 deeper into debt in calendar year 2014, an increase that equaled $6,875 per household, $7,458 per full-time year-round worker, and $8,853 per full-time year-round private-sector worker.

According to the Treasury, the debt started calendar year 2014 at $17,351,970,784,950.10 and ended it at $18,141,444,135,563.30.

When Obama took office on Jan. 20, 2009, the debt was $10,626,877,048,913.08. Since then, it has increased $7,514,567,086,650.22--which is $65,443 per household, $70,985 per full-time worker and $84,266 per full-time private-sector worker.

Jan 06 12:56

Greek Bonds Tumble As Report Sees "Decisive Victory" For Syriza

As The FT reports, forecasting group Oxford Economics says it has carried out an "in-depth" analysis of opinion polls ahead of Greece's snap general election on January 25, which shows that the radical Syriza party is on course to win a "clear mandate" to push through anti-austerity policies. Will German worry now?

Webmaster's Commentary: 

EVERYONE will worry. Syriza's majority is too large to defeat with election fraud. There may even be assassination attempts on their candidates. But when Syriza wins, Greece will follow Iceland's example and simply write off that portion of Greek debt attributable to fraud, which is about half of it. Greece may even leave the EU. And either case will start to trigger those credit default swaps, and while the bankers are in a position to deny the faults, doing so will collapse the derivatives market.

Jan 06 12:50

Russian Default Risk Surges To New 6-Year Highs As Ruble Rubble Returns

Just when you thought it was all over... Having bounced post-CBR intervention and somewhat stabilized, the re-collapse in crude oil prices and continued weakness in Russian macro data provided just the impetus for a re-plunge in the Ruble (back above 63.5/USD) and surge in Russian bond yields (back to 14%).

Jan 06 12:48

Prepare for Property Prices to Fall Globally

At the start of the New Year, there are increasing signs that the recovery seen in property prices in many cities in western countries -- namely New York and other U.S. cities, and Dublin, London and other UK cities -- is beginning to peter out.

Jan 06 10:41

Why “Freedom” Isn’t ‘Free’

Americans pride themselves on being free, but how free is a man who:

Does not own his house

Does not own his car

Owes thousands of dollars to various banks

Has to send his wife to work out of necessity, because his expenses are so high

Sends his children to public school, because he cannot afford private school

Restricts the number of children he has, because he feels he cannot afford more

Pays a huge portion of his earnings every month to his “masters”, the bankers

Jan 06 10:26

Germany, France Pushing for End to Russia Sanctions

The US is keen to keep imposing new sanctions on Russia ad infinitum, and German vice-chancellor Sigmar Gabriel warned that there are forces in the European Union who are keen to do the same to “cripple Russia.”

With the ceasefire in eastern Ukraine holding, Germany and France are both increasingly pushing back against those sanctions, however, with French President Francois Hollande calling for sanctions to be ended outright.

Jan 06 09:27

U.S. Steel lays off 614 workers, citing low oil prices

Citing the collapse in global oil prices, U.S. Steel Corp. will idle its plant in Lorain, Ohio, laying off 614 workers, a company spokeswoman said Tuesday.

The plant makes steel pipe and tube for oil-and-gas exploration and drilling. With oil prices currently around $50 a barrel, their lowest level since 2009, energy companies have far less incentive to drill for new supply, reducing demand for the plant’s products.

Jan 06 09:21

Bill swap rate fixing is a scandal in waiting

If the Australian Securities and Investments Commission can establish that big banks have featured in the manipulation of the bank bill swap rate, it could well prove to be the largest corporate scandal of 2015.

A clutch of large trading and investment banks are being investigated by the corporate regulator for colluding in order to tamper with this interest rate to generate profits estimated to be in the hundreds of millions. Details of those potentially involved are starting to dribble out into the public domain.

It is probably the tip of the iceberg.

Jan 06 09:20

Basic Truths and Consequences

Most normal individuals believe these basic truths.

We cannot borrow our way out of debt.

We cannot spend our way into prosperity.

We cannot tax ourselves into wealth.

More specific versions of these essential truths are:

We can’t fix an excessive debt problem with more debt.

We can’t support a larger and increasingly more expensive government with a decreasing work force.

Paper money always returns to its intrinsic value – zero.

Jan 06 09:17

11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe

#1 Bill Fleckenstein: “They are trying to make the stock market go up and drag the economy along with it. It’s not going to work. There’s going to be a big accident. When people realize that it’s all a charade, the dollar will tank, the stock market will tank, and hopefully bond markets will tank. Gold will rally in that period of time because it’s done what it’s done because people have assumed complete infallibility on the part of the central bankers.”

Jan 06 09:16

German inflation hits five-year low as eurozone prepares for QE

Consumer prices in the eurozone's largest economy rise by just 0.1pc, indicating the monetary bloc may have now fallen into outright deflation

Jan 06 08:24

Obamacare vote to test Democrats’ resolve under Republican majority

House Republicans will hold a vote this week to change Obamacare’s definition of full-time work from 30 hours a week to the traditional 40, setting up an early test to see how many Democrats are willing to buck President Obama and his signature overhaul now that they are in the minority.

It’s part of the early agenda taking shape on Capitol Hill, where the GOP in both the House and Senate is planning votes on issues that have earned bipartisan support before, but which stalled as Democrats circled wagons to protect Mr. Obama politically.

Webmaster's Commentary: 

And while they all played politics, millions of Americans' lives were ruined by Obamacare!

Jan 06 08:18

CETA should have a GMO warning label on it in Europe

Genetically modified (GM) food is more strictly regulated in the European Union than it is in Canada or the United States. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the United States-European Union Transatlantic Trade and Investment Partnership (TTIP) will increase the risk of GM food entering Europe.

Jan 06 07:54

#FireBoehner: Backlash Against Boehner Explodes On Social Media

Social media has exploded in opposition to Rep. John Boehner, who faces re-election as House Speaker and has profited from owning millions in stocks benefiting from Obamacare.

Webmaster's Commentary: 

Given the total flustercluck that Obamacare has turned out to be, all Americans should be warming up the tar and plucking the feathers for every politicians who supported it!

Jan 06 07:25

Oil Falls Below 50 As Global Financial Markets Begin To Unravel

On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece. These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015.

Jan 05 19:48

Iceland to Withdraw EU Application: Prime Minister

Iceland is expected to withdraw its application to become a member of the European Union, the Reykjavik Grapevine reported Monday, citing the country's prime minister.

Webmaster's Commentary: 

That European Union isn't looking so attractive these days!

Jan 05 19:44

Is Citi The Next AIG: 70 Trillion Reasons Why Citigroup And Congress Scrambled To Pass The Swaps "Push-Out" Rule

Earlier today, when we were conducting a routine check with the Office of the Currency Comptroller's on the total notional amount of derivatives held at the Big 4 banks in the context of the "JPMorgan break up" story, we found something stunning: using the latest, just released Q3 OCC data, JPMorgan is no longer America's undisputed derivatives king. Well, it still is at the HoldCo level, where it is number one in terms of notional derivatives with $65.5 trillion, but when one steps a level lower, namely the FDIC-insured commercial bank (the National Association or N.A.) level, something quite disturbing emerges.

Jan 05 11:05

LAUGH OF THE DAY

Jan 05 10:19

Pensions of Union Workers Cut in Federal Budget

Well, there's something very radical happened that people haven't been talking about very much. Normally a budget is supposed to decide what gets funded and what doesn't get funded, and it's simply a decision of what to cut back. A budget is not supposed to rewrite the law.

But what happened is something very radical. They rewrote two laws. One of the laws was about bank derivatives that Elizabeth Warren has spoken about, promising to bail out Citibank and other banks. If they lose on derivatives, they're going to get bailed out like they did in 2008.

Jan 05 08:40

The Chinese are Coming: Beijing in the Balkans and Eastern Europe

The chatter about Beijing’s economic surge coincided well with its Balkans drive, yet another means by which the Chinese business juggernaut is seeking satiation. Chinese diplomats and figures are not strangers to the region.

Last month, Beijing exerted its already noted muscle in the southern European, Balkans region, holding discussions with Serbian counterparts on further financial involvement. The point of convergence was the Central and Eastern European-China summit, continuing last years 16+1 initiative begun in Bucharest.

Webmaster's Commentary: 

To minimize the time goods get from China and Asia to Europe will also make those goods more attractive, from a price point perspective, to potential European companies.

Jan 05 08:32

And the World Was Split in Twain

In 1991, the Cold War between the US and the USSR ended, as, economically, the USSR had run its course. Since that time, the US has had the ability to back off on armaments and to strengthen itself economically, to become even more powerful as the world’s present empire.

But, of course, that’s not what they did. Instead, they went headlong in the direction of becoming a more highly armed, more fascist state. Along the way, they became extremely reckless with their economy, following a Keynesian model that contributed to the greatest debt bubble the world has ever seen.

Jan 05 08:09

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

In other words, just as slowly, the world is starting to grasp the bottom line: it is not the financial exposure to Russia, or the threat of financial contagion should Russia suffer a major recession or worse: it is something far simpler that will lead to the biggest harm for Europe's countries. The lack of trade. Because while central banks can monetize everything, leading to an unprecedented asset bubble which if only for the time being boosts investor and consumer confidence, they can't print trade - that all important driver of growth in a globalized world long before central banks were set to monetize over $1 trillion in bonds each and every year to mask the fact that the world is deep in a global depression.

Jan 05 07:58

Shipping container home readying for Detroit debut

An unusual home taking shape inside General Motors' sprawling Detroit-Hamtramck Assembly plant is intended to be part of a movement to rebuild the city's economy and deteriorating, disappearing housing stock.

Skilled-trades workers, taking breaks from their tasks at the factory that produces the electric Chevrolet Volt and other vehicles, dart in and out to do door, window and wall installation and framing, as well as electrical and plumbing work. Meanwhile, a nonprofit urban farming group is preparing property a few miles away that will welcome the project, what's believed to be the city's first occupied shipping container homestead.

Webmaster's Commentary: 

Making life in a slave shack seem fashionable!


Shipping container home.

Plantation slave shack. Click for larger image

Because under the fascist New World Order, only BANKERS are allowed to live in large homes!

Click for larger image


Click for larger image


Click for larger image

Jan 05 07:56

Israel to ask U.S. congressmen to halt aid to Palestinians

Recently passed American legislation states that if the Palestinians initiate any action against Israel at the ICC, the State Department would have to stop American aid to the PA, which comes to some $400 million annually.

Webmaster's Commentary: 

When you allow government to take your money, then give it back on their terms, bad things happen.

Jan 05 07:55

Possible Russian Bitcoin Ban Could Start Domino Effect for Other Countries

As Russia is set to become the latest country to legally restrict virtual currencies such as Bitcoin, an investigative journalist for Bitcoinist and senior editor of the website CryptoArticles, Serge Schouterden predicts this could kick off a domino effect, prompting other countries to do the exact same thing.

Jan 05 07:44

‘Political manipulation’: Germany wants new Greek govt to obey forced administration

The German government insists it wants Greece to stay in the eurozone and isn’t drafting any contingency plans in case of ‘Grexit’. This shows Germany is adamant about keeping Greece under the domination of the 'troika', journalist Ernst Wolff told RT.

“The goal of the German government, the European Union and even the government in Athens itself is to keep Greece in the euro zone," German Vice Chancellor Sigmar Gabriel said in an interview on Sunday.

"There were no, and there are no, other plans to the contrary," he added, without directly refuting Der Spiegel’s report that a common belief in the German government was that the eurozone is stable enough to cope with potential Greece exit.

"That's why we can't be blackmailed and why we expect the Greece government, no matter who leads it, to abide by the agreements made with the EU," Gabriel added, echoing an earlier statement by a high-ranking member of German Chancellor Angela Merkel’s party, Michael Fuchs.

Webmaster's Commentary: 

So if Greece defaults on its EU debt, what is Germany going to do, INVADE?!?

I think not.

Jan 05 07:17

Greek euro exit would be ‘Lehman Brothers squared’: economist

A decision by a new Greek government to leave the eurozone would set off devastating turmoil in financial markets even worse than the collapse of Lehman Brothers in 2008, a leading international economist warned Saturday.

A Greek exit would likely spark runs on Greek banks and the country’s stock market and end with the imposition of severe capital controls, said Barry Eichengreen, an economic historian at the University of California at Berkeley. He spoke as part of a panel discussion on the euro EURUSD, -0.77% crisis at the American Economic Association’s annual meeting.

The exit would also spill into other countries as investors speculate about which might be next to leave the currency union, he said.

Webmaster's Commentary: 

The real problem here, should Greece leave the Euro, and default on their debt, there is a potential crash of credit default markets, which could well go global.

Jan 05 07:15

Hedge fund founder Thomas Gilbert shot dead in NY

US media reported that Mr Gilbert had been involved in a domestic argument.

No-one has been arrested. Police want to speak to Mr Gilbert's son in connection with the incident.

Jan 05 07:01

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

Russia has presented a startling proposal to overcome the tensions with the EU: The EU should renounce the free trade agreement with the United States TTIP and enter into a partnership with the newly established Eurasian Economic Union instead. A free trade zone with the neighbors would make more sense than a deal with the US.

It surely would, but then how will Europe feign outrage when the NSA is found to have spied yet again on its "closest trading partners?" Some more on Russia's proposal from EUobserver:

Vladimir Chizhov told EUobserver: “Our idea is to start official contacts between the EU and the EAEU as soon as possible. [German] chancellor Angela Merkel talked about this not long ago. The EU sanctions [on Russia] are not a hindrance”

Webmaster's Commentary: 

love Putin or hate him, he 20,000 chess moves ahead of the US government in presenting this proposal to Europe!!

And Europe, collectively, may well have had just enough of US governmental bullying and NSA spying to say yes to the proposal!!

Jan 05 06:52

Davos Elites Enjoys the Global Depression

When Klaus Schwab, founder and executive chairman of the World Economic Forum started the yearly pilgrimage to the inner sanctums of the Swiss Gnomes, he could hardly conceive that the ritual would turn into a celebrity bash of the super rich. The Davos venue is appropriate. Only rarified air is suitable for the global Mattoids. Billed as an assembly of business moguls, it really is more of an audition of well-heeled speculators vying for inclusion into the real power elites who make or break governments, economies and political destinies.

Using a combination of a Hollywood press agent, Madison Avenue ad firm and a media business channel the CNBC cheerleaders, the Davos clan relishes in their ill-gotten privilege and influence. The too big to fail mantra fits into the nihilism of their cult devotion of manipulated markets.

Jan 05 06:49

Young people are 'lost generation' who can no longer fix gadgets, warns professor

Young people in Britain have become a lost generation who can no longer mend gadgets and appliances because they have grown up in a disposable world, the professor giving this year’s Royal Institution Christmas lectures has warned.

Webmaster's Commentary: 

The problem isn't the kids. The problem is that modern devices are not designed to be taken apart and repaired by the customer. They are designed to be thrown away and replaced, to boost profits for the manufacturers and retailers.

Jan 04 14:47

BITCOIN CRASHING: Breaks Under $300

Bitcoin is continuing its collapse at the start of the New Year. YTD Bitcoin is already down an additional 86.3% to $286.73.

Webmaster's Commentary: 

Crashing? Or under attack?

Jan 04 11:25

Gun Control Is Here: Guns Permanently Confiscated After Veteran Got Treatment For Insomnia

For those who have always believed that it can’t happen here, think again, because it IS happening, and things are only going to get worse as data surveillance becomes a way of life.

Gun confiscation at the hands of medical records sharing is now officially a reality, with serious consequences for the individuals involved.

Now, under ObamaCare, the United States is on pace to swiftly become a snitch society that would make East Germany and Soviet Russia blush.

Jan 04 11:15

2015 Will Be Worse For Obamacare Than Its 2014 Debut As A Result Of New Burdens The White House Is Saddling Onto Insurers

An ominous and largely ignored outcome of Obamacare’s failed launch is that the large insurers have not signed up to offer health plans on the state exchanges.

The nation’s big insurers have mainly sat out of the program, even after a reported browbeating from the White House.

The reason is simple. Offering plans on the exchanges is a bad business deal.

Webmaster's Commentary: 

Jan 04 10:19

BEX ALERT - Why the US Will Power the World Economy in 2015

Webmaster's Commentary: 

The only way the US will power the world economy is by bombing anyone using a currency that is stronger than the dollar!

Jan 04 09:19

Germany warns against tougher sanctions on Russia

Germany's deputy chancellor, Sigmar Gabriel, has warned against destabilizing Russia through too severe sanctions over the Ukraine crisis. He said an unstable Russia would pose a danger to all of Europe.

Webmaster's Commentary: 

"That is a small price to pay to GET THOSE @#$%ING ROOSKIES!!!!" -- Official White Horse Souse

Jan 04 08:27

Millions of Obamacare subsidy recipients may need to pay back-taxes.

The problem for Democrats is not exactly this: “As many as 3.4 million people who received Obamacare subsidies may owe refunds to the federal government, according to an estimate by a tax preparation firm… H&R Block is estimating that as many as half of the 6.8 million people who received insurance premium subsidies under the Affordable Care Act benefited from subsidies that were too large, the Wall Street Journal reported Thursday.” Although it’s definitely going to be a problem: ‘several million people suddenly discovering that they now owe back taxes to the government over Obamacare’ is not exactly a good scenario, especially if you belong to the political party that set that scenario up in the first place.

Jan 04 08:16

A New IRS Horror Story That Makes Past Scandals Pale In Comparison

The practice has resulted in emptying the bank account of an innocent restaurant owner and an army sergeant in Virginia who was saving money for his daughter’s college education.

Then there was the retail business whose insurance only covered $10,000 in the event of a lost or stolen sum of money. As a result, the owner, who was cautious about keeping too much cash on site, was careful to send employees to make bank deposits throughout the day in amounts less than $10,000 so he could rely on his insurance policy.

In each of these cases, and many others, the IRS, without notice or so much as a criminal complaint or indictment, swooped in and emptied the bank accounts of these completely legitimate people and businesses.

Webmaster's Commentary: 

The United States had abandoned the principle of innocent until proven guilty and returned to the Napoleonic Code, in which one is presumed guilty until innocence can be proven.

Jan 03 11:07

ObamaCare fines rising in 2015, IRS prepares to collect

Don't have health insurance? Get ready to pay up.

The ObamaCare-mandated fines for not having insurance are rising in 2015 -- and for the first time, will be collected by the Internal Revenue Service.

Jan 03 11:04

FDIC report on Americans not using banks

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