ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 28 10:14

Pleading for Peace in Chicago: ‘We Could Be Looking at a Blood Bath’

During Memorial Day weekend, this city reopens its Lake Michigan beaches, regular fireworks displays start at Navy Pier and the downtown streets and spruced-up Riverwalk are crowded with tourists.

But the holiday weekend is often seen here as the start of heightened violence, as well. That has been particularly worrying this year to community leaders and city officials, as they grapple with a rise in gun violence that has traumatized some neighborhoods and left city officials searching for new ways to subdue street crime.

“If something doesn’t change, if we don’t get jobs for these kids, if we don’t change the economic situation, I’m worried that we could be looking at a blood bath,” said the Rev. Corey Brooks, a pastor on the city’s South Side, a mostly African-American area where some of the shootings have been concentrated. “If something doesn’t happen, I fear that we’re potentially looking at one of the worst summers we’ve ever had.”

Webmaster's Commentary: 

Looks as though, from a standpoint of concretely and effectively addressing this issue, Rom Emanuel has been a colossal, epic fail as mayor of this city.

The alleged "educational" system in the city has utterly failed these kids; so have the drug and gang policies, at the state, city, and Federal levels.

Urban gangs give these kids the opportunity to make money, selling drugs, and give them a sense of identity which sometimes their (frequently broken) families can not.

I have to wonder; how well can these kids read and write a standard English?!? How are their math skills?!? And if they don't have proficiencies in reading and math, who is going to want to hire them, and for what kinds of jobs?

How many "shovel ready" jobs exist in Chicago which the construction unions will allow unskilled, non-union members take?!?

There is a hideous overlap of problems here, and I hope that the community can find effective coping strategies to keep the city calm this summer, but were I a betting woman, I would not bet on that happening.

May 28 09:49

Venezuela Drifts Into New Territory: Hunger, Blackouts and Government Shutdown

The courts? Closed most days. The bureau to start a business? Same thing. The public defender’s office? That’s been converted into a food bank for government employees.

Step by step, Venezuela has been shutting down.

This country has long been accustomed to painful shortages, even of basic foods. But Venezuela keeps drifting further into uncharted territory.

In recent weeks, the government has taken what may be one of the most desperate measures ever by a country to save electricity: A shutdown of many of its offices for all but two half-days each week.

But that is only the start of the country’s woes. Electricity and water are being rationed, and huge areas of the country have spent months with little of either.

Many people cannot make international calls from their phones because of a dispute between the government and phone companies over currency regulations and rates.

Webmaster's Commentary: 

I cannot see how this can ultimately end well, or that Maduro will be able to remain in power that much longer.

But I do hope that the government which replaces that of Maduro will be able to meet the needs of the suffering Venezuelan people, and as quickly as humanly possible.

May 28 09:20

Welcome to Crony America: Hedge Fund with $146 Billion in Assets Gets $22 Million Government Subsidy

The world’s biggest hedge fund has secured $22 million of financial assistance from the government of Connecticut, reports FT. The hedge fund, Ray Dalio’s Bridgewater Associates,has $146bn of assets under management. A meeting of Connecticut’s bond commission on Friday approved $5 million in grants for Bridgewater and a $17 million loan that will be forgiven if fund creates 750 jobs in the state.

May 28 06:47

Pro-EU Propaganda in Britain Goes into Overdrive

In recent months, the British establishment has engaged in the most blatant and concerted propaganda campaign since the Scottish independence referendum or the Iraq war. Every day, the establishment spreads more fear in an attempt to keep Britain in the European Union (EU); with this propaganda campaign completely undermining the democratic process.

May 28 06:45

Putin goes to Greece

On May 27th, 2016, Russian President Vladimir Putin will arrive in Athens on a state visit. The Russian head of state will meet with the President of Greece Prokopis Pavlopoulos and Prime Minister Alexis Tsipras. After Athens, the Russian President will go to Mount Athos, where together with the Primate of the Russian Orthodox Church Patriarch Kirill he will participate in the commemoration of the millennium of Russian monarchial presence on Mount Athos.

Webmaster's Commentary: 

Putin is going to offer Greece an alternative to the permanent debt-slavery of the ECB!

May 28 06:44

French Senate to consider resolution on easing anti-Russia sanctions

France’s Senate will debate a draft resolution calling for the easing and gradual lifting of anti-Russia sanctions on June 8. The draft resolution has already been supported by the body’s Committee on European Affairs.

May 27 19:47

"I'm the king of debt. I love debt." - Trump, 2016.

......we can already conclude that Trump’s business operation aimed at dodging tens of millions of dollars in federal taxes – lost taxes that would have to be made up by increasing the burden on the middle class, who often pay withholding taxes and cannot afford the offshore tax havens, expensive lawyers and accountants used by predatory plutocrats like Trump.

At the heart of this scam was a slick trick to transform the purchase of a $50 million ownership stake in Trump Soho into a loan. This maneuver, which is seen by many tax experts as simply illegal, shows us what Trump means when he says that he loves debt. The US tax code notoriously rewards debt and punishes equity, and Trump has fully embraced crushing debt, relieved by periodic write-downs at the expense of others, as his way of life.

In addition, Trump’s agent in this entire matter turns out to be one Felix Sater of Bayrock Group, a shadowy mob figure who represented him in the dodgy and convoluted negotiations. Trump is currently so anxious to put distance between himself and Sater that he may have lied under oath by vehemently insisting that he could not recall who Sater is.

May 27 19:30

Emails Show TPP 'Collusion' Between Big Banks & Obama Administration

A series of emails released Friday show what activists describe as "collusion" between U.S. Trade Representative Michael Froman and Wall Street executives to push for the passage the controversial Trans-Pacific Partnership (TPP).

The emails (pdf), obtained through a Freedom of Information Act (FOIA) request by the group Rootstrikers, which organizes against money in politics, include a message to Froman from a managing director at Goldman Sachs urging him to push for "robust commitments" on Investor-State Dispute Settlement (ISDS) provisions—which allow private corporations to sue governments for perceived loss of profits—to be included in the divisive trade deal.

"I wanted to underscore how important it is for the financial services industry to get robust commitments on ISDS in the agreement... denying our industry the same rights as enjoyed by every other sector would be terribly unfortunate," the email states.

May 27 18:31

Bolin: Wide Range of Data Suggests Market Top

May 27 18:12

Vivid proof of the Greater Depression

May 27 16:20

Hard To Get Too Negative Given Sentiment

May 27 15:24

Dollar Reality – End of Petro Dollars

May 27 14:47

BAILOUT SONG: 'I Used To Think Freddie Mac Was A Pimp' ...

This song does not suck. It's the best bailout song I've heard, and I've heard hundreds.

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May 27 14:46

Losing Ground In Flyover America

May 27 14:00

THE NEXT SYSTEMIC LEHMAN MOMENT

May 27 13:33

Hillary Clinton's New Anti-Trump Ad Misses the Mark

This ad is disingenuous in a dozen different ways. For one thing, the destruction that the Clinton campaign describes was not caused by people swooping in after the bubble burst, buying at the bottom of the market.

It was caused by the existence of a speculative bubble in the first place. And that bubble was inflated not by Donald Trump, but by the people who have at least in part bankrolled Hillary Clinton's career: namely, Wall Street banks.

In the mid-2000s, a speculative mania swallowed up the real-estate markets largely because Wall Street discovered a new (and often criminally fraudulent) way to peddle mortgage securities.

The basic trick involved big banks buying up the risky home loans of subprime borrowers — the loans of people who often lacked verified incomes and had poor credit histories — and repackaging them as highly rated mortgage securities.

Webmaster's Commentary: 

It's also too esoteric for most voters, as opposed to "She lied."

May 27 10:46

G7 Stands Pat on Anti-Russian Sanctions

G7 leaders confirmed their intention to stick to anti-Russian sanctions imposed in connection to Crimea.

The G7 leaders have stressed that sanctions against Russia will remain in place until full implementation of the Minsk peace agreement on Ukraine, pointing out, however, that maintaining constant dialogue with Russia is crucial to the peaceful resolution of the crisis.

"We stand united in our conviction that the conflict in Ukraine can only be solved by diplomatic means and in full respect for international law, especially the legal obligation to respect Ukraine’s sovereignty, territorial integrity and independence. We reiterate our condemnation of the illegal annexation of the Crimean peninsula by Russia and reaffirm our policy of its non-recognition and sanctions against those involved," the G7 leaders said.

Webmaster's Commentary: 

So, it appears that the EU is trying the "if at first you don't succeed, lie, lie again" approach to Russia, in keeping these sanctions in place.

But the rest of the world, including thinking Americans, know what is going on here.

When Yanukovich was thrown under the proverbial bus, by Poroshenko's people, Crimean leadership realized that it had zero credible government in Kiev.

They had a referendum, through which they petitioned the Russian Federation to join it. And in what was attested to being a free and fair election, the referendum carried. Russia then invited them to become a part of the Russian Federation, which they did.

Anyone in the EU with just a smattering of familiarity with Russian history would know that Crimea had been part of Russia until it was annexed by Ukraine in the 1950s by the USSR's Khrushchev, himself an ethnic Ukrainian.

Russia did nothing wrong here, and to describe the process of Crimea's referendum as a Russian "annexation" is one big, fat, hairy lie; the EU members know this, but they stick with it.

But financially, not trading with Russia could put the EU at great financial risk, particularly if the Brexit, Frexit, and Grexit get real, which will signal the end of the EU and the Euro.

May 27 09:27

Are Investors Idiots?

May 27 08:06

Central Banks Can't Go It Alone Anymore

Whether through signals from the Group of Seven meeting this week or in the outcome of the latest round of European negotiations on Greece, officials of advanced countries increasingly are acknowledging that the problems facing their economies require a new response to take over from the overlong use of narrow short-term tools.

This recognition has been too long in the making and, judging from the regrettable lack of credible and detailed action plans, still needs time to be translated into progress on the ground.

Webmaster's Commentary: 

The only solution that actually will work is to end private central banking. Anything else is a distraction and doomed to failure.

May 27 08:05

Hitler Was Financed by the Federal Reserve and the Bank of England (translated from Russian article)

The key structures that defined the post-war development strategy of the West were the Central financial institutions of Great Britain and the United States — the Bank of England and the Federal Reserve System (FRS) — and the associated financial and industrial organizations set out a target to establish absolute control over the financial system of Germany to control political processes in Central Europe.

May 27 08:05

GRAPHIC VIDEO SHOWS VENEZUELANS LOOTING, EATING GARBAGE

May 27 08:02

ALAN GREENSPAN: VENEZUELA DECLARES MARTIAL LAW, AMERICA IS NEXT

Alan Greenspan issued a dire warning about the U.S. economy during an interview with Fox News on Thursday. Greenspan said that as Venezuela descends into martial law, the U.S. is heading in the same direction.

Greenspan warned that the U.S. has “a global problem of a shortage of productivity growth” which is leading it into an impending disaster.

Foxbusiness.com reports:

“What the Fed does at this particular stage is less important than what the markets are doing. And what the markets are beginning to show us is acceleration in money supply for the first time in a very long time… We have a global problem of a shortage in productivity growth and it’s not only the United States but it’s pretty much around the world and it’s being caused by the fact that the populations everywhere in the Western world, for example, are aging and we are not committing enough of our resources to fund that,” he said.

Webmaster's Commentary: 

Long term economic growth cannot happen if decent jobs keep getting off-shored/outsourced; that is one aspect of the problem about which Greenspan is noticeably reluctant to speak.

If the guarantee of decent jobs after college doesn't pan out, women in long term relationships postpone, or avoid pregnancies completely; it is just that simple.

And I, for one, do not blame them; however, Greenspan seems to be waiving his finger at them, as though they were the problem, which they are not.

Rational people don't want to bring kids into this world unless they have some hope of adequately and decently taking care of them, because jobs are there with which to feed, clothe, and educate them.

May 27 08:02

UK to Lose Out on Millions Due to Tax Loophole For Fracking Firms

Greenpeace’s Energy Desk found out that the UK government is giving UK fossil fuel companies investing in fracking tax breaks in form of enhanced capital allowances that reduce their taxable profit.

"It’s inexcusable that Ministers are treating fracking firms to a generous tax loophole, whilst denying clean, renewable energy projects the very same tax breaks," Caroline Lucas, a Green Party member of parliament, said, commenting on the findings.

May 27 07:56

An Unknown Billionaire's Quest To Reverse Aging

If you Google Osman Kibar’s name you’ll find pictures of him playing poker. It’s not that he was ever a serious player–just that in 2006 he won the first poker tournament he ever played in and then, a year later, came in second out of 3,000 players at a tournament run by the World Series of Poker in Vegas.

“I don’t get this,” he told a friend. “I’m going to enter another tournament just to check this assumption.” So he played one more tournament, won it and then quit. “While I’m playing, it’s you and the other players,” says Kibar, 45. “The cards are irrelevant.

May 27 07:55

0:02 / 0:30David Icke - What Others Dare Not Say

May 27 07:51

Europe Revolts Against Russian Sanctions

From ministerial offices to barricades on the streets, Europe is in open revolt against anti-Russian sanctions which have cost workers and businesses millions of jobs and earnings. Granted, the contentious issues are wider than anti-Russian sanctions. However, the latter are entwined with growing popular discontent across the EU.

Germany’s vice chancellor Sigmar Gabriel is among the latest high-profile politicians to have come out against the sanctions stand-off between the European Union and Russia.

At stake is not just a crisis in the economy, of which the anti-Russian sanctions are symptomatic. It is further manifesting in a political crisis that is challenging the very legitimacy of EU governments and the bloc’s institutional existence. The issue is not so much about merely trying to normalize EU-Russian relations. But rather more about preserving the EU from an existential public backlash against anti-democratic and discredited authorities.

May 27 07:11

Wall Street Waits for Yellen Before Taking Off for a Long Weekend

The Friday before Memorial Day weekend is typically dead on Wall Street. The bond market shuts early and trading in stocks slows to a trickle as everyone hightails it out of town.

Not this year.

At 1:15 p.m. New York time, just 45 minutes before the world’s biggest bond market is set to go dark for three days, Federal Reserve Chair Janet Yellen is due to speak at an event in Massachusetts that may turn into a crucial moment for investors handicapping the path of interest rates.

May 27 07:06

The Very Long Bet: 100-Year Bonds That Pay Peanuts

May 27 06:43

Chart of The Day: Mind The Crooked GAAP Gap

May 26 15:31

More Big Retailers Say ‘No’ to GMO Salmon

May 26 15:07

Income Tax: Smoking the Government Cheese

So, no, we don’t need more taxes. We’re already paying too much. If people can’t see that, then they’ve been smoking the government cheese. My only question is: How’d you get that rolled up into the rolling paper?!”

May 26 15:03

Study finds organic crops boost local economies

May 26 14:57

Dollar Stores Continue To Push The US Economy

May 26 14:45

The War on Cash is Ancient (and evil…)

The war on cash is now a global phenomenon: under the pretext of tracing criminal activity, governments everywhere are cracking down on commerce that isn’t monitored or controlled. However, the results of this war reveal its true purpose: tracking citizens and their taxable income.

May 26 14:41

Marc Faber: Gold&Silver Markets 2016 Analysis,The Risk of Global Collapse

In this wide-ranging and extensive interview, Faber states that because of central bank manipulation, he cannot imagine any scenario, REPEAT any scenario, under which there will not be significant pain for investors. He cautions that some money may be made in some asset classes — but one day the music will stop.

May 26 14:33

Injustice System: Texas Jail Sued for Locking Up The Poor: “They Can’t Afford Bail or Trial”

A Texas jail has been caging people who are too poor to afford bail, according to a new lawsuit. Harris County Jail – the largest in Texas and the third largest in the US – is accused of keeping most of its incarcerated population locked up for misdemeanors because they can’t afford bail or trial.

May 26 14:17

Our Poverty Myth

If you’re poor, many Americans think, it’s your own fault. It’s a sign of your own moral failing.

I don’t personally believe that, but the idea has roots in our culture going back centuries.

May 26 13:00

It’s True: Obamacare “Health Insurance Payment Is About To Jump”

Level-headed people and critics knew years ago. Now they are being proven right, not that it is any consolation to those who must pay it.

May 26 12:39

Tory Benefit Sanctions Driving Vulnerable Claimants To Crime & Poverty – Report

Benefit sanctions are driving “vulnerable” claimants to hunger, destitution and crime, a report by Salford City Council has revealed.

The research, first picked up by the Independent, warned that rather than encouraging claimants to enter the labor market, the sudden loss of basic income has adverse effects on mental health, which “could lead to self-harm or suicide.”

May 26 11:48

What Will Sink the US Auto Boom?

May 26 11:28

First Quarter GDP: departed but still melting

May 26 11:14

The Feigned and Future Demise of Big-Oil

By Tony Cartalucci

Four of the top five Global Fortune 500 corporations are involved in petroleum refining. Together with big-finance and industrial giants like big-auto and utility monopolies, big-oil dominates the global economy.

The monopoly it enjoys grants it the unwarranted power and influence it has wielded throughout the 20th and 21st centuries. And because big-oil is integrated into big-finance and other corporate-financier monopolies through various mutual interests, its influence reaches even further still.

The ability to manipulate prices in the markets, starve or bolster any particular nation by targeting energy essential for modern civilization constitutes a weaponization of energy. However, despite this immense power, there are some who claim big-oil’s days are numbered. On one hand they are wrong, on the other, they are absolutely right...

May 26 10:25

surviving the collapse

Interview with Ferfal Aguirre that survived Argentina's slo-mo collapse in 2001

Corruption, private and public sector robbery, and governments preventing recovery via endless tampering

May 26 09:13

Why Governments Hate It When Other Countries Have Low Taxes

While international bureaucrats enjoy tax-free salaries, they never tire of trying to raise taxes on everyone else.

May 26 08:39

Bank in the UK? Plans afoot to make YOU liable for bank fraud

Bank customers may be obliged to bear the bill for fraud against their accounts, under proposed changes under consideration between banks, the UK government and GCHQ.

Under the plans, individuals or companies with poor online security could be “frozen out of banking services or even excluded from the system whereby banks compensate customers whose accounts are hacked”, the Financial Times reports.

UK banks - unlike those in the US - routinely cover the costs of online fraud, at least in cases where customer negligence (such as sharing PIN codes or cards with third parties) is excluded. Pushing the burden of fraudulent losses towards customers is likely to be hugely controversial.

May 26 08:32

U.S. Hemp Industry Generates Half a Billion Dollars In Sales

By TJ Martinell

Despite unconstitutional federal restrictions on industrial hemp farming, the industry last year netted half a billion dollars in sales in the United States ... imagine of states exerted their rights and completely ignored the federal government...

May 26 07:58

The Mexico Way

Clearly, Trump is accusing the Mexican ruling class—the politicians and billionaires like Carlos Slim, the largest single shareholder of The New York Times—of dumping their surplus population on the United States.

That Mexico’s elites are outmaneuvering America’s leaders strikes Trump as a bad thing. Yet, to the American media, the very existence of a Mexican ruling caste with interests different from those of American citizens doesn’t seem to register as a concept with which they are able to deal. Sure, Mexico is a country of over 120 million people that shares a 1,950-mile border with the U.S., but it’s not, you know, Israel when it comes to being important to American interests.

May 26 07:54

Bankers above the law! Christine Lagarde not charged in embezzlement investigation

But she has not been completely cleared in the investigation over her authorisation of a controversial out-of-court settlement for the maverick French businessman Bernard Tapie when she was finance minister under Nicolas Sarkozy.

Instead, Lagarde has been placed under the status of "supervised witness". In French legal terms, this is less serious than being placed under formal investigation. It means that in any future hearings she will have to answer questions as a witness with her lawyer. She could technically still be charged later if judges change their minds.

May 26 07:47

France: “State of Emergency” Extends State Terrorism as Nationwide Protests Gather Momentum

As riots, strikes and protests sweep across France, ostensibly driven by a revolt against new labour laws introduced by the Government’s labour reform bill, we ask if we are seeing the escalation of the chaos strategy designed to create unrest and divide social movements, thus undermining any genuine grass-roots organisation against the ever extending “state of emergency”.

Webmaster's Commentary: 

Or are we seeing the start of a global revolution against the money-junkies?

May 26 07:29

Unemployment, Low Wages Make Third Of Young Americans Live With Parents

The family nest is getting full again as nearly a third of millennials tend to go back to live with their parents rather than settle down on their own, a new study reveals. The year 2014 saw the trend peak nearly to record-breaking levels since World War II.

The Pew Research Center found that 32.1 percent of 18-to-34 year old Americans prefer living with their parents to sharing a place with a roommate or a romantic partner.

May 26 06:46

DESPERATE VENEZUELA BEGINS TO SELL ITS GOLD RESERVES

Venezuela’s gold reserves have plunged to their lowest level on record after it sold $1.7 billion of the precious metal in the first quarter of the year to repay debts, reports FT. The country’s gold reserves have dropped almost a third over the past year and it sold over 40 tons in February and March, according to IMF data.

May 26 06:45

STATE OF EMERGENCY IN PERU OVER MERCURY POISONING FROM ILLEGAL GOLD MINING

Peruvian President Ollanta Humala has declared a 60-day state of emergency in a large remote area of the Amazon jungle as levels of mercury from illegal gold mining have reached record high levels. According to country's environment minister, as many as 50,000 people or 41% of the population of the gold-rich Madre de Dios region, bordering Brazil, has been exposed to mercury contamination.

May 25 15:30

French nuclear workers vote to join strike against labour laws

Staff at France’s 19 nuclear plants have voted to go on strike on Thursday amid escalating protests against labour reforms.

Workers at the Nogent-sur-Seine plant near Paris have already started a 24-hour stoppage.

The action is not thought likely to provoke power cuts, due to legal limits on strike action in the nuclear industry and power imports from abroad.

The latest action comes as the CGT union hardens its opposition to new labour laws.

“It is no longer enough for us go out on the streets, they don’t listen to us anymore. Now we will start with heavier arms, a little more substantial, and we all fight and tell the government that this is enough,” said CGT official Jean-Claude Colin.

Read more at http://www.liveleak.com/view?

May 25 15:13

Robots To Take Over Federal Reserve

May 25 14:07

We’re in the Eye of the Global Financial Hurricane

Don't fall for the mainstream media and politicos' shuck-and-jive that all is well and "growth" will return any day now. The only "growth" we're experiencing are the financial cancers of systemic risk and financialization's soaring wealth/income inequality.

May 25 14:03

Jim Rogers Issues a DIRE WARNING - Trillions

May 25 13:59

Detroit, Fresh Out Of Bankruptcy, Discovers $195M Pension Shortfall

On December 10, 2014 the city of Detroit exited bankruptcy.

It was the largest municipal bankruptcy in US history.

The bondholders were totally screwed in favor of the pensioners (not that I generally like bondholders).

Regardless, everything was supposed to be fixed. It wasn’t.

May 25 12:30

Anonymous Hits New York Stock Exchange, World Bank, The Fed, and Vatican — Total Media Blackout

By Jay Syrmopoulos

Amidst a global media blackout of Anonymous’ ongoing worldwide attacks on the “corrupt banking cartels,” the hacking collective has now taken down some of the most prestigious institutions in global governance. OpIcarus has recently taken offline the World Bank, the New York Stock Exchange, five U.S. Federal Reserve Banks and the Vatican.

After announcing a global call to arms against the “corrupt global banking cartel,” the hacker collective, known as Anonymous, in conjunction with Ghost Squad Hackers, have taken over 30 central banks offline, including striking many targets at the heart of the Western imperialist empire...

May 25 10:34

A Peculiar Large Cap Top?

May 25 09:55

Eurogroup Agrees To Disburse €7.5BN To Greece Which Will Be Used To Repay Creditors

Once upon a time, markets trembled when Greek bailout implementation headlines were announced, which is what just happened if slightly ahead of our forecast schedule...

... and this time nobody cares. Well maybe the Greeks do, but by now even they realize that most of the "money" they receive will be used to repay creditors and especially the ECB, and they will see virtually none of it.

Webmaster's Commentary: 

May 25 09:47

Currency War Resumes - China Devalues Yuan To 5-Year Lows

After a brief hiatus from the ongoing currency wars, China fired another salvo at The Fed tonight by devaluing the Yuan fix to 6.5693 - its weakest against the USD since March 2011. After eight days higher in a row for The USD Index, it seems PBOC has turned its currency liberalization plan off, stabilizing the broad Renminbi basket (which has been steadily devalued) and turning its attention to devaluing against the USD. Having unleashed turmoil in August (pre-Sept FOMC) and January (post Dec rate-hike), it appears the rising rate-hike probabilities jawboned by The Fed are decidedly disagreeable to "authoritative persons" in China.

May 25 09:14

Now fracking firms set sights on beauty spots across Britain: Hundreds of sites could be approved for drilling including national parks

Vast swathes of countryside face a renewed threat from fracking after a landmark planning decision, campaigners warned yesterday.

They say that the go-ahead for a scheme in Yorkshire could be the ‘tip of the iceberg’, with hundreds of drilling projects across Britain, including beauty spots, to follow.

May 25 09:05

Microsoft cuts another 1,850 jobs, takes $950 million charge in its phone hardware business

Microsoft is cutting another 1,850 jobs connected to its mobile-phone business, on the heels of the 4,500 job cuts connected with its sell-off of its feature-phone business a week ago.

May 25 09:02

Why Greece is top of Germany's to-do list - again

German leaders spent much of the first half of 2015 wrangling Europe into a deal that would – they hoped – allow Greece to pay off its debts by restructuring its economy and making deep cuts to public spending.

But almost a year later the stricken Mediterranean country is once again top of the agenda at meetings of the Eurogroup (finance ministers of countries that use the Euro single currency) – with the latest set for Tuesday afternoon.

Webmaster's Commentary: 

The very nature of private central banking is designed so that once you are a debt-slave, you STAY a debt-slave!

May 25 08:59

French labour reforms not going deep enough, says IMF

France's economy is recovering too slowly to attack high unemployment, the International Monetary Fund warned Tuesday, urging the country to go beyond its already hotly contested job market reforms.

Webmaster's Commentary: 

France is on the edge of a revolution and still the bankers want more!

May 25 07:53

Europe gets its first modern Russian-made airliners

United Aircraft Corporation says the first Russian Sukhoi Superjet 100 (SSJ100) plane has been delivered to its inaugural European customer Irish airline CityJet.

Under the $1 billion contract, CityJet will lease 15 SSJ100 airplanes with an option for an additional 16 aircraft. The Irish airline will receive three aircraft in 2016, and the rest from 2017 onwards.

Webmaster's Commentary: 

While the US makes war, Russia makes deals!

May 25 07:52

Panama Papers confirm Canadian billionaire and university benefactor as mystery man in global bribery case

He has hobnobbed with the Queen and Bill Clinton. Donated a small fortune to Canadian universities. Runs a billion-dollar global business empire. And glides effortlessly in the highest echelons of corporate and political power.

Now, a joint CBC/Toronto Star investigation based on the Panama Papers provides the closing chapter in a years-long saga involving Canadian tycoon Victor Dahdaleh, which saw him battle criminal charges and a billion-dollar lawsuit on two continents over an international bribery scandal — all the while forging close ties with a trio of Canadian universities.

May 25 01:27

What The Yield Spread Reveals About Growth

May 24 15:55

US Air Force Unable To Procure Warplanes Past 2021: Report

The United States Air Force will not be able to pay for warplanes past 2021, according to a report by the Pentagon.

The annual aviation, inventory and funding plan for fiscal years 2017 through 2046, published on Monday, stated that at the current pace of downsizing, the Air Force will take a significant hit after 2021.

May 24 14:08

Goldman Sachs Is Funding Hebron Settlers

For years American taxpayers have been bankrolling Jewish-only illegal settlements in the West Bank with hundreds of millions of dollars funneled through tax-exempt non-profit organizations (we’ve covered the issue on Mondoweiss since 2008). One of the organizations which is a frequent recipient of these donations is the Brooklyn-based Hebron Fund which supports Hebron’s settler community.

May 24 13:45

Britain’s Tax Office, HMRC Sold 6oo State Owned Buildings To Offshore Property Company

There are a number of interesting facts and figures emanating from the various offshore leaks of recent times. One of them involves Britain’s tax office HMRC, where there is a history of double dealing when it comes to tax haven transparency.

Last February HSBC’s Swiss banking arm got caught ‘red-handed’ assisting wealthy customers concealing millions of dollars of assets and then literally and quite unbelievably found to be handing out bricks of untraceable currency to them. HSBC was, at the same time providing these clients the facilities and information needed to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files.

May 24 13:35

Monsanto rejects Bayer’s $62bn takeover bid

May 24 12:48

Head of the IMF Christine Lagarde in court charged with embezzlement and fraud

The head of the International Monetary Fund arrived in the dock of a Paris courtroom today as she braced herself to be formally charged with embezzlement and fraud.

Christine Lagarde’s humiliation is not only a massive personal blow which could lead to her resignation, but one which will plunge the world’s banking system into further ignominy.

The clearly nervous 57-year-old said nothing to reporters as she entered the Court of Justice of the Republic, a special tribunal set up to judge the conduct of France’s government ministers, shortly after 8.30am.

May 24 12:35

How to squander $52m of charitable money in 6 months

In March, an Anchorage jury convicted Avery of numerous counts of fraud and money laundering, and on Monday he was sentenced to 13 years in prison. His crime? Burning through $52 million of May Smith Trust money in six months, the biggest private fraud case in Alaskan history. The trust was intended to support an elderly widow and go to charity after she died.

May 24 12:32

N.Y. sues Domino's Pizza for alleged wage theft

U.S. fast food giant Domino's Pizza (DPZ) and three of its franchises could be required to pay employees a lot of dough if a newly filed New York lawsuit succeeds.

The nation's largest pizza delivery company and three of its franchisees underpaid workers at least $565,000 at ten New York-based stores, the state's state's top legal official alleged in a court action announced Tuesday.

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