ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 01 12:28

Kidney Valley: Nepalese Villagers Preyed Upon By A Thriving Organ Black Market

In peaceful Nepal, a sinister black market is flourishing. Kavre province has become infamous for the shocking numbers of people who have sold their kidneys.

Aug 01 12:07

The American Empire is Playing a Dangerous Game with its Nuclear Weapons Arsenal

Wall Street, the Military-Industrial Complex, corporations and the politicians are willing to lead the world into an Armageddon-type scenario. Washington is confident that they can defeat its adversaries with their military power but the U.S. has never faced countries like Russia, China or Iran. Russia has more advanced military technologies including its air and missile defense systems known as the S-500 which can counter any US-NATO missile or fighter jet at a moment’s notice. Irrational decisions made by Washington’s establishment means two things, first, they must be really politically and historically ignorant on Russia’s stance when it comes to its sovereignty and they must really despise humanity, but one thing is certain; they want the U.S. to remain as the world’s standing superpower. Wars after war, countless lives have been lost on all continents over the last 250 years or so. War is America’s pastime. Wars contribute to the spread of disease and famine.

Aug 01 11:56

The IMF confesses it immolated Greece on behalf of the Eurogroup

“The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.”

Aug 01 10:50

It’s Getting Scarier

I’ve finally figured out why so many pundits and journalists are signing on to the new cold war with Russia: they weren’t alive during the last one. They have no memory of the Cuban missile crisis, they didn’t grow up in the era of backyard bomb shelters: for them, Fail Safe and On the Beach are just old movies.

Aug 01 10:03

Barack Obama is on track to be the only president in history to never have a year of 3% GDP growth

We just got another extremely disappointing GDP number. It was being projected that U.S. GDP would grow by 2.5 percent during the second quarter of 2016, but instead it only grew by just 1.2 percent.

Aug 01 09:23

Did Germany Just Blink?

A most unusual thing happened in Europe this week. In a rare climb down, Angela Merkel’s government decided not to push the European Commission to impose a punitive fine on Portugal and Spain for their persistent failure to comply with their budget deficit targets, leading one Eurogroup minister to declare that the euro zone’s Stability Pact is “dead.”

Aug 01 09:17

A New Wave of ObamaCare Insurer Failures

Aug 01 09:11

GLOBAL FINANCIAL CRISIS TWO? Fears US economy will spark worldwide economic meltdown

AMERICA'S economy is slowing while debt levels soar, in a scenario that has worrying similarities to the lead up to the financial crisis that brought the world to its knees.

The US economy grew far less than expected in the second quarter of 2016 taking the annualised rate to just 1.2 per cent - below expectations of 2.5 per cent.

At the same time, credit card and overdraft lending has soared to its highest level since 2007.

Aug 01 09:04

Italy's UniCredit shares SUSPENDED as banking crisis grows

SHARES in Italian lender UniCredit were suspended this morning amid rising fears the country's banking crisis could tip Europe over the edge.

Investors rushed to dump UniCredit stock after stress tests issued Friday prompted worries over the firm's stability in a downturn.

The selling frenzy triggered a temporary trading freeze before leaving the firm's share price nursing losses of five per cent.

Aug 01 08:28

Saudi Banks Offered $4BN Bailout To Avoid Liquidity Crisis

In an effort to avoid a full-blown banking crisis, Bloomberg is reporting that the Saudi Arabian Monetary Agency, the Saudi central bank, has offered domestic lenders $4BN in discounted, 1-year loans to ease liquidity constraints. Banks in the kingdom are facing a cash squeeze as the government withdraws deposits and sells local-currency debt to fund the budget deficit. Monica Malik, chief economist at Abu Dhabi Commercial Bank PJSC, expects to see further easing in the coming days, saying:

"We expect to see further measures, such as possibly reducing the reserve requirement ratio or increasing the loan-to-deposit ceiling in the coming days.”

Aug 01 08:28

Goldman Turns Outright Bearish: Says To "Sell" Stocks Over Next 3 Months

One month after Goldman strategists downgraded equities to neutral on growth and valuation concerns back in May, the firm turned up the heat on the bearish case with a June report by Christian Mueller-Glissmann, in which the Goldman strategist said that equity drawdown risk “appears elevated” with S&P 500 trading near record high, valuations stretched, lackluster economic growth and yield investors being “forced up the risk curve to equities." Specifically Goldman warned to prepare for a "major drawdown."

Aug 01 08:21

"Time's Up - The Pain Must Begin Now"

In 2010, Social Security (OASDI) unofficially went bankrupt. For the first time since the enactment of the SS amendments of 1983, annual outlays for the program exceeded receipts (excluding interest credited to the trust funds). The deficit has grown every year since 2010 and is now up to 8% annually and is projected to be 31% in 2026 and 44% by '46. The chart below highlights the OASDI annual surplus growth (blue columns) and total surplus (red line). This chart includes interest payments to the trust funds and thus looks a little better than the unvarnished reality.

Aug 01 08:20

MYSTERY GMO WHEAT FOUND GROWING IN WASHINGTON STATE COULD AFFECT FOREIGN TRADE WITH U.S.

Genetically modified wheat not approved for sale or commercial production in the United States has been found growing in a field in Washington state, agriculture officials said Friday, posing a possible risk to trade with countries concerned about engineered food. The Food and Drug Administration says genetically modified organisms, or GMOs, are safe and little scientific concern exists about the safety of those on the market. But critics say not enough is known about their risks, and they want GMOs labeled so people know what's in their food. On Friday, President Barack Obama signed into law a bill that will require labeling of genetically modified ingredients for the first time. The legislation passed by Congress two weeks ago will require most food packages to carry a text label, a symbol or an electronic code readable by smartphone that indicates whether the food contains genetically modified organisms, or GMOs.

Aug 01 08:13

The American Dream has imploded with the Homeownership rate hitting another low: Most Americans too broke to buy a Home.

Owning a home is symbolic with having a piece of the American Dream. The stereotypical picket white fence with a nice lawn is easily conjured up in the minds of many. Yet for many, this is only a dream because it will never become reality. The American Dream has imploded with many other areas of the economy. We have hit another low when it comes to the homeownership rate. Americans are too broke to purchase homes even with record low interest rates. Home prices have increased hand and hand with the stock market but the problem is, most of the gains have gone to big investors and not families purchasing a place to live. The big bet from Wall Street was to convert many foreclosures into rentals and push rents higher. This is all interconnected like an intricate spider web and the public is the fly trying to break free. The only problem is the housing market has transformed into another trophy for big money investors.

Aug 01 08:11

Hillary Clinton Uses 9/11 Again To Justify Wall Street Patronage

For a moment in this election cycle, it appeared that events had conspired to force the Democratic Party to finally have a serious conversation about their complicity in Wall Street’s reckless behavior and crimes.

The 2008 financial crisis is directly connected to the financial deregulation policies of President Bill Clinton’s administration, such as repealing Glass-Steagall. President Clinton even forced out one of his own appointees, Brooksley Borne, after she tried to introduce regulation of the financial products that led to the 2008 crash, known as derivatives.

Jul 31 17:15

Why Australia can’t avoid a recession

Jul 31 11:19

GDP does not drive the stock market trend

Jul 31 09:17

Student debts wipe out most graduate pay premiums - report

Politicians should stop using a "carrot of higher graduate earnings" to justify raising student fees or freezing repayment thresholds, say campaigners.

Those who do "should be charged with gross mis-selling", says Angus Hanton, co-founder of the Intergenerational Foundation (IF) lobby group.

Having to pay back student debts will wipe out any graduate premium for most professions, claims the IF in a report.

Webmaster's Commentary: 

In other words, the banks take all that extra money a college diploma earns you!

Jul 31 08:40

DoD Admits US Global Hegemony Threatened By China, Russia In "Persistently Disordered World"

By 2035, the US could find itself in an environment where Russia or China may match or even exceed the West's military and economic might in some areas, taking advantage of a “disordered and contested world,” the Pentagon’s research unit said...

Webmaster's Commentary: 

"What is WRONG with these people who won't do what we tell them to do?!?" -- Official White Horse Souse

Jul 31 08:13

DOD ADMITS US GLOBAL HEGEMONY THREATENED BY CHINA, RUSSIA IN "PERSISTENTLY DISORDERED WORLD"

By 2035, the US could find itself in an environment where Russia or China may match or even exceed the West's military and economic might in some areas, taking advantage of a “disordered and contested world,” the Pentagon’s research unit said...

Conflict and war in 2035 cannot be understood by the simple identification of a set of individual trends and conditions. Instead, the intersection and interaction of many discrete trends and conditions will ultimately change the character of future conflict and illuminate the reasons why the Joint Force may be called on to address threats to U.S. national interests. In fact, conflict in 2035 is likely to be driven by six specific and unique combinations of trends and conditions.

Webmaster's Commentary: 

Given the totally dysfunctional monetary policy, courtesy of the Fed and the US government, I seriously doubt that such a situation will becoming to the US that late in time, and would suggest that it will hit this country sooner rather than later.

Jul 31 08:06

U S GOVERNMENT now CONFISCATING Homes, Cars and ASSETS

Jul 31 07:25

Starving Venezuelans Break Into Zoo And Eat Equally Starving Animals

A food shortage plaguing Venezuela right now has thrown citizens into a frenzy in search for sustenance and they have resorted to breaking into zoos to butcher and eat the animals. Last week, groups of intruders broke into Caricuao Zoo in Caracas, Venezuela, pulled a rare black stallion from its cage, and slaughtered him there on the spot. They left behind only his head and ribs, which zookeepers found in the morning when they entered to care for the lone horse.

Jul 31 06:44

China's M2

Jul 30 17:41

81-minute radio interview: Carl Herman on $1,000,000 per US household monetary reform benefits rather than 20 Americans own more than bottom 50%, .1% own more than 90%, 1% more wealthy than 99%

*hyperlinks/videos live at source*

81-minute interview with Byron Dale and Greg Soderberg of WealthMoney.org (the three of us have combined over 90 years of research on this topic):

here

Data, discussion:

The top three benefits each of monetary reform and public banking total ~$1,000,000 for the average American household, and would be received nearly instantly. Fed Chair Janet Yellen publicly acknowledges monetary reform as described below, but continues a history of criminal fraud in her lawful fiduciary responsibility to truthfully provide what you're about to read. The data below include evidence of a .01% oligarchy criminally looting tens of trillions of our dollars.

Jul 30 13:27

OIL-PRODUCING COUNTRIES IN CRISIS

The old OPEC is no more, and its future existence is inextricably linked with the struggle between leading energy states to expand their influence... Economic theory very often does not work in the oil world because everyone strives to retain their market share and possibly even expand it, and without reciprocal guarantees, no one will unilaterally reduce production. Sooner or later oil prices will reach over $100 per barrel. By that time, however, many oil giants might already be uncompetitive. It is worth remembering that in the early 20th century, the United States was the leading oil-producing country in the world, before being overtaken by Russia and Saudi Arabia. In order to understand the future developments of the oil industry in a particular country, to see its future steps, it is necessary to consider its current situation...

Jul 30 11:49

Steve Wynn: Trump Vs Hillary Is A Distraction From The Real Problem, Which Ends With "Wheelbarrows Full Of Money"

Sooner or later, our political establishment is going to be forced, regardless of party affiliation, to deal with $19 trillion in debt that's climbing by around $1.6 billion a day. That means that in the Treasury auction each month in Downtown Washington, we're printing money at the rate of $40 billion or $50 billion a month which is of course increasing the money supply and directly impacting the living standard or the buying power of the U.S. dollar for people who are being paid like everybody on this call today.

Now, part of the frustration in America is the fact that the deficit is having an enormous impact on the living style and the living standard of Americans, but not all of this is well understood by the folks, to use Bill O'Reilly's term. The folks are being - their living standard being clipped by the deficit and by the printing of money and the increase in the money supply.

Jul 30 11:07

A New Low in US Presidential Politics: The Anointment of Hillary, the Neocon “War Goddess”

Anointing her by electoral rigging to lead one wing of America’s duopoly system reveals the deplorable state of the nation – tyranny posing as democracy.

A new low in presidential politics was reached with a candidate representing Washington’s lunatic fringe, a neocon war goddess drooling for endless conflicts.

If elected, Hillary risks committing greater high crimes of state than her predecessors, including possible nuclear war – why it’s crucial to defeat her in November. Humanity’s fate hangs in the balance.

Her Thursday night acceptance speech was what you’d expect – featuring rambling lofty rhetoric, dreary and dull pontificating, empty promises, an unprincipled display of dishonesty.

Jul 30 11:00

Saudi Arabia is Setting a Trap for Moscow Yet Againhttp://journal-neo.org/2016/07/29/saudi-arabia-is-setting-a-trap-for-moscow-yet-again/

Apparently, Washington has decided to crush Russia along with Iran and Syria, without waiting for the arrival of Hillary Clinton as a newly elected head of state. It looks like behind the scenes, rulers of America are afraid of the possible victory of Donald Trump during the upcoming election. Therefore, they are in a rush to achieve their primary strategic goal – to bring down Vladimir Putin and induce regime change in Russia at any cost. In a bid to achieve this goal they are relying on two strategies – the dropping of oil prices and the undermining of Russia’s and Iran’s positions in Syria. The recent scandal with the Olympics, brilliantly organized by Washington, London, Paris and Berlin, has struck a painful blow to Moscow’s reputation. A possible defeat in Syria could be even more painful, especially if it is accompanied by continuously decreasing oil prices, which would undermine Russia’s economy.

Jul 30 09:09

Monte Paschi Fails European "Stress Test" Meant To Restore Confidence In Europe's Struggling Banks

Moments ago, the European Banking Authority published the 2016 bank stress test results, whose purpose - as every other year - is to inspire confidence in Europe's struggling banks; it differs from a market-based assessment of bank stress - that particular "test" can be seen by observing the stock prices of such giant banks as Deutsche Bank and Credit Suisse, both of which recently hit all time lows.

Jul 30 08:26

IRELAND JAILS 3 TOP BANKERS OVER 2008 COLLAPSE, THE OPPOSITE OF WHAT THE US DID

“By means that could be termed dishonest, deceitful and corrupt, they manufactured 7.2 billion euros in deposits by obvious sham transactions,” Judge Martin Nolan of Ireland said as he convicted three top bankers on Friday for their role in the 2008 financial crisis. They are among the first in the world to be sent to prison for their involvement in the global meltdown eight years ago.

The longest-ever criminal trial in Ireland lasted 74 days and led to convictions for former Irish Life and Permanent Bank Chief Executive Denis Casey; former finance director at the failed Anglo Irish Bank, Willie McAteer; and former head of capital markets at the Anglo Irish Bank, John Bowe. They received sentences ranging between two-and-a-half to three-and-a-half years.

Webmaster's Commentary: 

Good on ya, Ireland!!

Jul 30 08:15

IMF admits disastrous love affair with the euro and apologises for the immolation of Greece

The International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.

This is the lacerating verdict of the IMF’s top watchdog on the fund’s tangled political role in the eurozone debt crisis, the most damaging episode in the history of the Bretton Woods institutions.

The three main bailouts for Greece, Portugal and Ireland were unprecedented in scale and character. The trio were each allowed to borrow over 2,000pc of their allocated quota – more than three times the normal limit – and accounted for 80pc of all lending by the fund between 2011 and 2014.

Webmaster's Commentary: 

So, what are the real-world implications of this evaluation?!?

Will anyone be tried, fined, or go to jail, and NOT in Europe's version of a Club Fed?!?

My bet would be, absoflippinglutely not.

The apology is all the long-suffering Greek, Irish, and Portuguese people will get, period, end of discussion.

What an aphrodisiac it must be, to wield that much power with zero responsibility, and creating the absolute fluster clucks the IMF has created here!

Jul 30 07:31

IMF slammed by own watchdog over ‘political’ handling of eurozone crisis

Top brass at the International Monetary Fund (IMF) have been criticized for misjudgments over Greece, being overly enthusiastic about the euro, ignoring signs of an impending crisis, and for being influenced by national political concerns.

The criticism comes from the Fund's own watchdog, the Independent Evaluation Office (IEO).

Jul 29 15:33

U.S. Homeownership Rate Falls to Five-Decade Low

The U.S. homeownership rate fell to the lowest level in more than 50 years in the second quarter of 2016, a reflection of the lingering effects of the housing bust, financial hurdles to buying and shifting demographics across the country.

Jul 29 15:30

Microsoft layoffs: 2,850 jobs

Jul 29 15:10

Central Banks Will Create An Historic Gold Rush

The central banks are leading the world into a black hole and have no idea what a disaster they have created. What initially seemed like a nice money spinner for the private bankers in 1913 when the Fed was set up has resulted in a $2 quadrillion (at least) monster that is now totally out of control.

Jul 29 15:10

Iceland Is Where Bankers Go To Jail

“Whenever I speak as head of state, I speak about peace. I will say it as often and as long as necessary,” the straight-talking President Vigdis Finnbogadöttir told me.

Jul 29 13:40

Another Leveraged Buyout Bites the Dust

Jul 29 13:35

America's Aging Baby Boomers, Forced To Work Until Death, Blamed For Collapsing US Productivity

Now America's deteriorating productivity trend is nothing new; however for the first time it has been blamed on the demographic shift of the US workforce and specifically the vast preponderance of baby boomers stuck in the labor force, instead of - say - half the population of the US and Canada using Facebook on a daily basis. As Bloomberg adds, what's surprising is the composition of the slowdown: one-third is driven by slowing workforce expansion and the rest by a drop in productivity gains. The productivity slump isn't reserved to older workers: it takes place across age groups, the researchers find.

Jul 29 13:29

The Fed Is Preparing For Negative Rates - Here's The Sign Everyone Missed

I explained why a few months ago in my free weekly column, Thoughts from the Frontline, at Mauldin Economics.

In that regard, something important happened recently. And not many people noticed. I’ll do a quick review to explain.

In Congressional testimony last February, a member of Congress asked Janet Yellen if the Fed had legal authority to use negative interest rates. Her answer was this:

In the spirit of prudent planning we always try to look at what options we would have available to us, either if we needed to tighten policy more rapidly than we expect or the opposite. So we would take a look at [negative rates]. The legal issues I'm not prepared to tell you have been thoroughly examined at this point. I am not aware of anything that would prevent [the Fed from taking interest rates into negative territory]. But I am saying we have not fully investigated the legal issues.

So as of then, Yellen had no firm answer either way.

Webmaster's Commentary: 

IF in fact that is true, what is the point of saving money inside any US financial institution?!?

The short answer has to be, none whatsoever.

Jul 29 13:20

Ireland Jails 3 Top Bankers over 2008 Collapse, the Opposite of What the US Did

“By means that could be termed dishonest, deceitful and corrupt, they manufactured 7.2 billion euros in deposits by obvious sham transactions,” Judge Martin Nolan of Ireland said as he convicted three top bankers on Friday for their role in the 2008 financial crisis. They are among the first in the world to be sent to prison for their involvement in the global meltdown eight years ago. The longest-ever criminal trial in Ireland lasted 74 days and led to convictions for former Irish Life and Permanent Bank Chief Executive Denis Casey; former finance director at the failed Anglo Irish Bank, Willie McAteer; and former head of capital markets at the Anglo Irish Bank, John Bowe. They received sentences ranging between two-and-a-half to three-and-a-half years.

Jul 29 11:30

The American Dream Plunges to Record Low

Jul 29 11:02

Full List Of Hillary’s Planned Tax Hikes

Jul 29 09:48

13 Families Rule Our Planet Earth

Jul 29 09:12

Japanese Bond Futures Halted Without Warning

At 2051ET, Japanese government bond futures suddenly halted trading. There was no limit moves or sudden surge in volume and the Osaka Excchange has confirmed it is investigatingthe reasons for the halt. Following the earlier flash-crash in USDJPY, one wonders just what is going on.. and what is coming?

Jul 29 07:51

Central Bankers are Driving Us All Into the Dirt

One of the major triggers I’ve been warning about is already happening, even before we understand and/or admit that we are in a recession. Global corporate debt now sits at a record $51 trillion and is poised to hit $75 trillion by 2020 – just four years away. If interest rates rise and the economy slows, it will be very hard for companies to roll these bonds over – and then we get what S&P Global Ratings is calling “Crexit.” The bond markets dry up for corporate lending, especially higher-yield junk bonds. This would set off a chain of corporate defaults and bankruptcies that would cause central banks to start to lose control of the economy, as they did in 2008 forward.

Jul 29 07:41

BYE BYE MIDDLE CLASS: THE RATE OF HOMEOWNERSHIP IN THE UNITED STATES HAS HIT THE LOWEST LEVEL EVER

The percentage of Americans that own a home has fallen to the lowest level ever recorded. During the second quarter of 2016, the non-seasonally adjusted home ownership rate fell to just 62.9 percent, which was exactly where it was at when the U.S. Census began publishing this measurement back in 1965. This is not what a “recovery” looks like. All throughout the Obama years, the percentage of Americans that own a home has gotten smaller and smaller and smaller. The reason for this, of course, is that the middle class in America is dying. Last year, we learned that middle class Americans now make up a minority of the population for the first time ever. In order to have a high rate of home ownership, you need a thriving middle class, and you can’t have a thriving middle class without good paying middle class jobs. This is why I write about the evisceration of the middle class so extensively, because the U.S.

Webmaster's Commentary: 

Part of President Obama's "legacy", I see.

Jul 29 07:37

THE DRAMATIC FAILURE OF GLOBALISATION

According to wikipedia, Globalisation is the process of international integration arising from the interchange of world views, products, ideas and other aspects of culture. However, over the last ten years there has been a sea change decline in all the indicators that would measure the success of this model. Democracy, economic growth, freedom and the principles of an interchange of world views and culture has been all but abandoned to a vice like grip of globalisation driven by corporate principles of power and greed resulting in war, terrorism, a biblical refugee crisis, fear and a fully co-opted media.

The Economist has just published its annual index on democracy. They found that out of 167 countries, only twenty are “full democracies”. Less than 13 per cent of the world’s countries can now claim to be a democracy. Given that America has graciously forced so much democracy on the world, one could be forgiven for thinking all is not well.

Webmaster's Commentary: 

The real, inescapable fact here is that globalization only "works" for people who are already massively rich; the"trickle down" of profitability to working class people from globalization has never been a reality; only an empty phrase, created to "comfort" those who have lost their jobs through globalization's relentless offshoring/outsourcing of American jobs to the centers of the lowest-cost labor, who are now working two or three minimum-wage jobs, maxing out their credit cards, and may well never be able to be financially solvent again.

There is a lot of economic desperation going on this country right now, and a real sense of having been utterly financially betrayed with by the Globalist Powers that Be in order to enrich their own wallets.

I do not know how that sense of desperation is ultimately going to manifest; but as a Christian pacifist activist, I sincerely caution people NOT to give this government the kind of confrontation in which they have expended billions to put down with extreme prejudice.

Jul 29 07:00

Will Any Future POTUS Matter (Other Than Launching More Wars)?

My own work has focused on two dynamics of the cost of increasingly unproductive complex systems. One is privilege, which can be defined as unearned wealth and power. Privilege is by definition unproductive, and a drain on the economy and society. Once the privileged class (i.e. the protected class that shifts risks and taxes to the unprotected/non-elite classes) expands and social mobility decays, the economy collapses under the dead weight of the privileged class.

I covered the history and dynamics of this process in The Lesson of Empires: Once Privilege Limits Social Mobility, Collapse Is Inevitable (April 18, 2016).

The second dynamic is the destructive consequences of a self-serving political-financial elite that is structurally incapable of real reform because real reform will collapse the high-cost structures that enable the concentration of wealth and power.

I explain these dynamics in Why Our Status Quo Failed and Is Beyond Reform.

Jul 29 06:33

EU plans to create European cross-border PENSION scheme in bid to inject cash into euro

BRUSSELS' bureaucrats are plotting a bloc-wide personal pension scheme as part of desperate efforts to boost the economy and save the euro, it has been revealed.

The European Commission (EC) is looking at how to encourage savers to invest into retirement schemes, so the cash can be used for business and economic growth.

A consultation has now been launched looking at a personal pension framework that would work across borders, with the commission asking for views from savers and businesses.

Jul 29 06:30

How bad is EU’s economic crisis? Italy prepares RESCUE BIDS ahead of stress tests on banks

AMID a toxic cocktail of low interest rates and stalling economic growth, the full scale of Europe's banking crisis is set to be laid out this evening.

Investors are nervously awaiting for the results of the European stress tests, which are designed to show how well prepared firms are for market shocks or downturns.

Italian and German bank balance sheets are drawing the biggest concerns ahead of the results, which are to be released after markets close at 9pm British time.

A late minute rescue deal has been tabled for Italy’s Monte dei Paschi di Siena (MPS), the world’s oldest bank, as investors and pensioners brace for the result of the assessment of its economic health.

Jul 29 06:16

Marissa Mayer's Payday Is Even More Insane Than You Think

After the Verizon VZ -0.83% deal was announced on Monday, the Internet erupted in outrage that Yahoo CEO Marissa Mayer could collect as much as $55 million. That’s the figure Yahoo YHOO -0.36% stated in April that Mayer could collect if the company were sold and more-than enough to get observers who think Mayer has not done a great job to declare her pay unfair, and another sign that corporate compensation is corrupt.

But, here’s the thing, that widely reported $55 million figure grossly understates what Mayer is likely to pocket after the deal closes.

The real number: $122,578,795.

Jul 29 05:53

Death of 747 now 'reasonably possible' says Boeing

Six months after slicing production of the iconic Boeing 747 to just one plane a month, the aerospace company has decided to halve the rate of production and flagged it is close to killing off the plane.

A new Form 10-Q filed with the United States Securities and Exchange Commission spells out the ugly situation as “Lower-than-expected demand for large commercial passenger and freighter aircraft and slower-than-expected growth of global freight traffic have continued to drive market uncertainties, pricing pressures and fewer orders than anticipated.”

Boeing has therefore “canceled previous plans to return to a production rate of 1.0 aircraft per month beginning in 2019.”

The company still has “32 undelivered aircraft” on its books, some yet to be built. But it also has “a number of completed aircraft in inventory” for which buyers cannot be found.

Jul 29 05:47

GDP Shocker: US Economy Grew Only 1.2% In Second Quarter; Q1 Revised To 0.8%

With Wall Street expecting the US economy to grow 2.6% in the second quarter, there were mnay shocked faces moments ago when the Census Bureau reported that not only did the US economy grow a paltry 1.2% in the quarter, but Q1 GDP was slased from an already poor 1.1% to just 0.8%.

Jul 29 03:39

Too fast? They're furious: Pilots' union says American Airlines compromises safety

The president of American Airlines’ pilots union said he’s alarmed by a new management initiative to speed up some flight plans, stating in a Thursday letter to union members that it could “compromise the margin of safety.”

“This erosion of the safety margin cannot be tolerated. Pilot pushing leads to ‘rush to comply’ behavior,” Capt. Dan Carey, who was elected president of the Allied Pilots Association earlier this month, wrote in the letter. “American Airlines’ operations are clearly over-scheduled, and management is now resorting to improvisation. Don’t let management’s schedule-planning mistakes become your next crisis.”

Carey is referring specifically to an initiative laid out in a July 12 memo from American’s chief operating officer Robert Isom. The memo outlines “speed up flight plans” as a way to reduce delays in certain circumstances.

Jul 28 20:11

Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May

A record 94,708,000 Americans were not in the labor force in May -- 664,000 more than in April -- and the labor force participation rate dropped two-tenths of a point to 62.6 percent, near its 38-year low, the Labor Department's Bureau of Labor Statistics reported on Friday.

When President Obama took office in January 2009, 80,529,000 Americans were not participating in the labor force; since then, 14,179,000 Americans have left the workforce -- some of them retiring and some just quitting because they can't find work.

Jul 28 19:57

Overly Simple Energy-Economy Models Give Misleading Answers

In the book Secular Cycles, Peter Turchin and Surgey Nefedov approach the problem of what causes civilizations to collapse using a modeling approach. According to their analysis, the kinds of things that caused civilizations to collapse very much corresponded to the symptoms of increasing complexity:

Problems tended to develop when the population in an area outgrew its resource base–either the population rose too high, or the resources become degraded, or both. The leaders would adopt a plan, which we might consider adding “complexity,” to solve the problems. Such a plan might include raising taxes to be able to afford a bigger army, and using that army to invade another territory. Or it might involve a plan to build irrigation, so that the current land becomes more productive. A modern approach might be to increase tourism, so that the wealth obtained from tourists can be traded for needed resources such as food.
According to Turchin and Nefedov, one problem that arises with the adoption of the new plan is increased wealth disparity. More leaders are needed for the new complex solutions. At the same time, it becomes more difficult for those at the bottom of the hierarchy (such as new workers) to obtain adequate wages.

Jul 28 16:02

Return Of The Slums: 31 People Found Living In Single-Family Home In London

A landlord was exposed and shamed online after his four-bedroom London property was found to be housing 31 people, including in a backyard wooden shack.

Jul 28 15:50

O2 sales dip 9% as tight-fisted Brits cling to their old handsets

Sales at O2 UK fell by 8.9 per cent to €3.46bn (£2.91bn) for the first half of the year, as customers opted to hang on to their old handsets rather than upgrade.

Jul 28 15:47

Will Theresa May’s Bespoke Brexit Package Wash With Brussels?

Prime Minister Theresa May has made clear she wants a bespoke Brexit package suited to the UK – a demand which could fall on deaf ears among notoriously inflexible EU officials.

Speaking alongside her Italian counterpart, Matteo Renzi, May said she has an “open mind” about upcoming Brexit negotiations and that Britain should not pick an agreement already “on the shelf.”

Jul 28 15:40

Homeownership Rate in the U.S. Drops to Lowest Since 1965

The U.S. homeownership rate fell to the lowest in more than 50 years as rising prices put buying out of reach for many renters. The share of Americans who own their homes was 62.9 percent in the second quarter, the lowest since 1965, according to a Census Bureau report Thursday. It was the second straight quarterly decrease, down from 63.5 percent in the previous three months.

Jul 28 15:16

Peter Schiff: Time Is Running Out, “Crisis Worse Than 2008 Coming”

Economic expert Peter Schiff speaks on not only the safe haven of gold, and what is at stake in the election, but just how dire the financial consequences will be when the great storm hits and batters everyone.

Jul 28 14:55

Brexit Fails To Contain Rising UK House Prices

House prices in Britain have continued to rise in the wake of the Brexit vote, a report says.

British house prices have risen at their fastest annual pace in four months in July at 5.2 percent, according to Nationwide, whose latest survey showed average prices edged up 0.5 percent from June alone.

Jul 28 14:30

California Audit Reveals Pension Debt Grew by 2,000%

Government accounting rules have forced a California audit that has revealed an increase in the “debt” it owes for pension liability by 2,000 percent this year. The state could nearly double the debt again next year when it is forced to account for unfunded retiree health benefits.

Jul 28 13:59

Shield Yourself From The Central Banksters

How much of your investment portfolio is in gold? Five percent? Ten percent? One contrarian investor believes that the yellow metal should control one-quarter of your portfolio.

Jul 28 12:18

FLASHBACK - BILL CLINTON LOOTED SOCIAL SECURITY TO CREATE HIS FEDERAL BUDGET SURPLUS

Well, the truth is...ah, shoot, well, we all know there's Washington's math problem. Alan Sloan in this past week's Newsweek says he spends 150%. What we've been doing, Mr. Chairman, in all reality, is taken a hundred billion out of the Social Security Trust Fund, transferring it over to the spending column, and spending it. Our friends to the left here are getting their tax cuts, we getting our spending increases, and hollering surplus, surplus, and balanced budget, and balanced budget plans when we continue to spend a hundred billion more than we take in.

Jul 28 11:52

The Most Dangerous Jobs in America

Police are 15th.

1 Logging workers 110.9 78
2 Fishers and related fishing workers 80.8 22
3 Aircraft pilots and flight engineers 64 82
4 Roofers 47.4 83
5 Refuse and recyclable material collectors 35.8 27

Jul 28 11:46

GESTAPO IN THE USA: FCC INTIMIDATES PRESS AND KILLS FREE SPEECH AT 5G ROLLOUT

In a public meeting at FCC headquarters on July 14, the agency which once served the people instead acted like tyrannical thugs, in an escalating series of remarkable events.

First, they prevented wireless science advocates from displaying a simple sign, violating their First Amendment rights in a public venue. Then, a security guard forcefully prevented a t-shirt from being taken out of a bag, by a former Congressional candidate with opposing views.

Next, a Bloomberg reporter had his credentials confiscated — almost unbelievably — for merely talking with the former Congressional candidate.

WHY IS THE FCC RESORTING TO GESTAPO-LIKE TACTICS OF SUPPRESSION AND OUTRIGHT INTIMIDATION?

Webmaster's Commentary: 

It's always "profits uber alles" for this country's government, at this state.

Jul 28 11:31

ALERT: Derivative BIG Bank Collapse?

Jul 28 11:02

There’s No Such Thing As A ‘Free Market’

The debates leading up to the election this year will no doubt invoke the “American value” of capitalism. But what, exactly, does that mean? And what should it mean?

I’m no economist, but I took a few economics courses while earning an undergraduate business degree. Growing up in a capitalist society, I thought I understood the basic concepts underlying capitalism — free markets, competitive advantage, and so forth.

Jul 28 11:00

DEMOCRATIC PARTY OFFICIAL PLATFORM IS PRO-FRACKING, PRO-MONSANTO, PRO-TPP, AND ANTI-GMO LABELING

Because of the diverse audience we attract, there are a lot of Natural News readers who are still supporting the Democrats. If you're one of those people, it's time for you to question what you're really supporting because you may not be aware that the democratic party openly supports fracking, Monsanto, vaccine mandates, chemical agriculture and the TPP. On top of that, they're mostly opposed to GMO labeling, too. Only Sen. Sanders really stood up to the biotech industry on that point, and now after the DNC email leaks, you know how the democrat establishment hosed Sanders with a vindictive smear campaign to destroy his chances of winning the nomination.

The truth is, the Democrat party is not a party of progressive ideas. Even the progressive news website Common Dreams has authored this piece blasting the DNC for its betrayals.

Webmaster's Commentary: 

By voting for Hillary Clinton this November, you will be voting for a criminal machine; a narcotopcracy; a Frankenstinian environment hater; a lover of war and the military industrial complex.

You will be voting for more wars, the re-introduction of the draft, and more offshored/outsourced jobs.

The "Clinton Cash" documentary has been bumped up to the top of the WRH website, so please do take a look.

Jul 28 10:51

DEUTSCHE BANK PROFIT PLUNGES 98 PERCENT AS THE OUTLOOK FOR “THE WORLD’S RISKIEST BANK” DARKENS

The biggest and most important bank in the biggest and most important country in Europe continues to implode right in front of our eyes. If you follow my work regularly, you probably already know that I issued a major alarm about Deutsche Bank last September. Subsequently, Deutsche Bank stock hit an all-time low. Then I sounded the alarm about Deutsche Bank again back in May, and once again that was followed by another all-time low for Deutsche Bank. And then I warned about Deutsche Bank again in early June, and you can probably imagine what happened after that. Over the past year, this German banking giant has literally been coming apart at the seams, and in so many ways it is paralleling exactly what happened to Lehman Brothers back in 2008.

Jul 28 09:57

NOBODY KNOWS WHO’S PAYING FOR THE PRIVATELY FUNDED DEMOCRATIC NATIONAL CONVENTION

Earlier this week, in my article titled, Hillary Clinton is in Deep Trouble – “Hordes of Wall Street Executives” Descend Upon Philly, I highlighted how all the Wall Street executives and lobbyists who avoided the RNC were excitedly flooding into the Democratic Convention. Here’s an excerpt:

Lobbyists are being welcomed back into the fold of the Democratic Party as the Obama era draws to a close.

Presumptive Democratic nominee Hillary Clinton has accepted more than $9 million in bundled donations from registered lobbyists, while the DNC has rolled back the lobbyist bans that Obama put into place.

“In 2008 and 2012, there was no integration with the [Obama] campaign,” said Al Mottur, a senior Democratic lobbyist at Brownstein Hyatt Farber Schreck, adding that he would have liked to have helped. “Now, the campaign is welcoming — they’re open to us. That’s why I’ve done as much work for her as I’ve done on her behalf.”

Webmaster's Commentary: 

Of course, lobbyists are flocking to the Clinton campaign; she's openly for sale, and will take anyone's money.

Speaking of which, there is a very "interesting" correlation in the funds the Clinton Foundation openly accepted from various North African and Middle Eastern countries. As reported at breitbart.com on 14 June of this year:

Hillary Clinton Took Millions from Anti-LGBT Countries That Jail and Execute Gays

In her response to the Islamic terror attack in Orlando, Hillary Clinton called on the governments of Saudi Arabia, Qatar, and Kuwait to stop allowing their citizens to fund terrorists and to “stop supporting radical schools and mosques.” However, she failed to mention that the Clinton Foundation has spent years accepting millions in donations from countries that throw homosexuals in prison, fine them, sentence them to hard labor, and even execute them for the “crime” of being gay.

But trust me, there's a lot more ugly with these countries from which she took this money.

So what else do the countries of Algeria, the Sultanate of Brunei, Kuwait, the Sultanate of Oman, Qatar, Saudi Arabia, and the UAE all have in common, in the 21st century?!?

The all still permit the barbaric practice of female genital mutilation.

Countries which still permit female genital mutilation

The correlation is nothing less than completely staggering.

So I have an ethics question to ask of the Clinton campaign; how in the name of heaven, as a person who is allegedly pro-woman, and pro-lgbtq, could Hillary Clinton knowingly take money from countries which fine, imprison, torture, and slaughter members of the lgbtq community, and permit female genital mutilation?!?

Hey, DNC: I'm waiting.....and your silence is thoroughly deafening.

Jul 28 09:42

Get Ready For America’s New $29 Trillion Debt

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