ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 13 08:51

'VARIABLE SPEED LIMITS' ALLOW POLICE TO CHANGE SPEED LIMITS ON A WHIM

A nightmare driving scenario, is slowly making its way across the country. As states begin installing 'Variable Speed Limits' (VSL) and granting law enforcement access to speed limits, which can be changed on a whim.

Imagine you are cruising down the highway, obeying the posted speed limit of 75 MPH only to find out that you're being ticketed for driving 15 miles over the speed limit.

How can this happen you ask?

In cash strapped America, it is now possible for the police to change speed limits using VSL's. States like Wyoming, Oregon, Georgia, Washington, Utah, New Jersey, Florida and Minnesota. have already begun using them

The USDOT is paying states $1 billion to use VSL's to create 'aggressive congestion-relief programs'.

But how will states payback the $1 billion?

By ticketing motorists of course.
States claim VSL's aren't used to create speed traps

The Georgia DOT claims, VSL's aren't being used to create speed traps...

Webmaster's Commentary: 

Our Bovine Excrement Detector just rekitted and imploded, on this last story.

Our 18 year-old crudmobile is limited to city streets, because it is close to being on its last legs, and Mike doesn't want to strain its capacity any further than he has to.

But I can imagine how completely frustrated a careful motorist must be, driving what they think is the speed limit, then having that limit changed in order for cops to write tickets to fill the till.

Sep 13 08:50

US threatens to ‘cut China off’ from dollar if it does not uphold sanctions against N. Korea

The US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, the US Treasury Secretary has warned. Steven Mnuchin said the restrictions could involve cutting off Beijing’s access to the US financial system.

Webmaster's Commentary: 

Actually, China is trying to delink from the US system.

Sep 13 08:38

FORMER CITI CEO PANDIT SAYS AI WILL REPLACE 30 PERCENT OF BANKING JOBS WITHIN 5 YEARS

Banks have already started to roll out automated systems.

While Vikram Pandit’s prediction is bad news for back-office employees, banks have already begun to use AI and machine learning in a big way.

From stock picking quants such as those currently under development by iBankCoin (to be rolled out in Exodus), to “robo-advisors” which handle client portfolios deemed too small to justify a costly human broker, to high frequency trading (HFT) algos, to intelligent fraud detection systems which detect and adapt to fraudulent behavior – banks are becoming increasingly reliant on automated systems.

Webmaster's Commentary: 

The short answer is, the recent law school grad with $150,000 in debt cannot compete.

College counselors need to be looking at future job trends for at least 20 years into the future, in terms of guiding students toward careers that will actually exist when they graduate, and that is just the hard truth.

Sep 13 08:12

Juncker Says 'All But Two Member States' Are 'Duty Bound' to Join Eurozone

The chief of the European Commission proposed to create the post of a Europe-wide economy and finance minister to boost the eurozone. Moreover, Juncker suggested that states that are set to join the Schengen zone, are also "duty bound" to join the eurozone as well.

Sep 13 08:00

Bitcoin is a 'fraud' only useful for drug dealers and North Korea, says JPMorgan CEO Jamie Dimon

The popular cryptocurrency bitcoin is a "fraud" that will eventually fail and is only useful to drug dealers, murderers and people in countries like North Korea, Ecuador and Venezuela, according to Jamie Dimon, chief executive officer (CEO) of banking giant JPMorgan.

Dimon, who has previously discussed his disdain for the digital money, told attendees during a Barclays' financial conference in New York on Tuesday (12 September) that he would not hesitate to fire JPMorgan employees found to be trading in the cryptocurrency.

Sep 13 07:18

REVEALED: The reason why Germany will do ANYTHING to STOP a hard Brexit

Brexit is already damaging Germany’s trade with the UK and it is set to get worse, according to the Association of German Chambers of Commerce and Industry.

But new research from the Cologne Institute for Economic Research (IW) has now revealed the drastic extent to which Germany could face economic disaster following Brexit.

According to the study, many German manufacturers are dependent on the production of goods abroad – with many partners being based in Britain.

In 2014 alone, the British supplied intermediate goods worth EUR 200 billion to the EU, of which 36 billion went to Germany.

Sep 13 03:58

Hillary Almost Proposed ‘A Universal Basic Income’ In 2016, And The Idea Is Catching Fire Among Grassroots Democrats

Should you get free money from the U.S. government every month simply for being alive?  That may sound like a crazy idea to many of us, but the truth is that this will likely be one of the biggest political issues in the 2020 presidential election. 

Sep 12 16:47

Our entire credit bureau system is broken

It’s bad to have your Social Security number and birthday stolen because criminals can use that information to apply for credit in your name. Why make that data so useful in the first place? There’s nothing magical about a Social Security number. We only use them for credit reporting because every US citizen has one, and they’re all supposedly secret. But those numbers haven’t been truly secret for a long time. Before the Equifax breach, there was the Experian breach, the Anthem breach, and the OPM breach. For millions of people, authentication by Social Security number no longer works. So why are we still using a credit system that relies on breachable data?

The credit bureau system is broken, and it’s been broken for a long time.

Sep 12 12:39

Ken O'Keefe Unveils The Truth About Adolf Hitler

Sep 12 11:50

Stockman Exposes America's Fiscal Doomsday Machine

Maybe the Democrats did win the 2016 election. Or at least the the Deep State and its accomplices among the beltway political class, K-Street lobbies and the media did.

That’s because the media won a giant victory against something they deplore and despise more than anything else - the public debt ceiling. They sanctimoniously admonish that it’s a relic of the nation’s fiscally benighted past. They operate on a belief that this is an episodic tendency to threaten America’s credit and to offer Capitol Hill an opening to grandstand about the fiscal verities is a blight on orderly governance.

So the Donald’s latest burst of impetuosity — agreeing with Sen. Schumer to permanently abolish the public debt ceiling — has descended on the beltway like manna from heaven. Not Barack Obama, Bill Clinton, Jimmy Carter or even the Great Texas Porker, Lyndon Johnson, dared to utter the thought of it — at least not in polite company.

Sep 12 11:08

Chinese government sources tell the WSJ they're about to shut down all domestic Bitcoin exchanges

China's "economic miracle" has been accompanied by mass-scale looting, creating a class of super-rich, corrupt millionaires and billionaires to rival the US or Russia; these 1%ers know that their wealth is subject to the whims of the Politburo, which is why they are so anxious to acquire second passports, and to exfiltrate their cash through baroque schemes, anodyne scams, and runaway property speculation.

Sep 12 10:01

Former Deutsche Bank Head Of Subprime Trading Sued For Fraud

Nearly 10 years to the day since Lehman Brothers failed, the US filed a civil lawsuit in federal court in Brooklyn against Paul Mangione, former Deutsche Bank head of subprime trading, whom it accused of defrauding investors in mortgage-backed securities sold before the financial crisis.

Mangione misled investors about the quality of loans underlying $1.4 billion in mortgage-backed securities, resulting in hundreds of millions of dollars in losses, the U.S. said. The case against the former trader came after the bank in January reached a $7.2 billion settlement with Deutsche Bank in a related case over risky mortgage securities sold to investors.

Sep 12 09:26

EU Worries Grow over U.S. Economic Chaos

Under Donald Trump's leadership, the U.S. is in the process of forfeiting its position of economic supremacy. An internal EU document shows that the Europeans are worried.

Sep 12 09:26

Leader of China's $9 billion Ezubao online scam gets life; 26 jailed

A Beijing court on Tuesday sentenced the architect of the $9 billion Ezubao online financial scam to life imprisonment, and handed down jail time to 26 others, marking the close to one of the biggest Ponzi schemes in modern Chinese history.
The ruling comes at a time when the government is stepping up efforts to crack down on risky and illicit behavior in the country's financial sector, including the unruly peer-to-peer industry that continues to attract high volumes.

Webmaster's Commentary: 

We need more of that here!

Sep 12 09:14

This $586.56 San Francisco Lawsuit Could Destroy The Entire 'Gig Economy'

Of course, the entire business model for companies like Uber hangs in the balance as adding 1,000s of employees to their own payrolls would drastically change, if not completely destroy, their business model.

For now, these employers bring on 1099 contractors to avoid paying taxes, overtime pay, benefits and workers' compensation. But, if that were to change, the cost of that Uber trip would suddenly look a lot like your taxi fare from 10 years ago.

Sep 12 09:04

US government debt tops $20 trillion, exceeding 100% of country's GDP

The US national debt has exceeded the $20 trillion mark, increasing by $318 billion in one day.

Last week, US President Donald Trump and Congress agreed on a temporary increase in the ceiling of the national debt, and this issue has so far been postponed until December.

At the same time, the upper limit of the national debt was reached in March, and since then the US Treasury has been limited in the possibility of borrowing.

Webmaster's Commentary: 

Like everything else, the official government debt is less than accurate. The true scale of the government's debt is well over $100 trillion!

Sep 12 08:10

Trump's 'Apparent Doctrine of Retreat' Dismissed by Senate Committee

A key Senate panel showed its disdain for the Trump administration’s proposed steep cuts to the foreign aid budget—first by agreeing to spend more than what the president had asked for and then by issuing a report condemning the president’s “"apparent doctrine of retreat"

The Senate Appropriations Committee agreed unanimously last week to spend about $51 billion on foreign aid, which is roughly $11 billion more than the administration's request>>>

Sep 12 07:56

Housing Bubble Symmetry: Look Out Below

Sep 11 14:41

Oil Is Unlikely To Return To $80

Sep 11 13:38

Logical and Illogical Reasons to Short Tesla

“Knowing that something could be bad for you is not always a barrier when temptation rears its head.”

Sep 11 12:50

The Dow – To Correct or Not?

Sep 11 11:56

HUGE Problems At The Federal Reserve: Rats Leaving The Sinking Ship!

Federal Reserve Vice Chairman Stanley Fischer has resigned effective in mid-October, giving President Donald Trump scope to start reshaping the leadership of the U.S. central bank sooner than expected and clouding the longer-term outlook for monetary policy.

Fischer, 73, was appointed to the Fed by President Barack Obama in 2014 to a term as vice chair that would have expired in June 2018. He cited “personal reasons” in a resignation letter Wednesday to Trump for leaving on or around Oct. 13. He will participate at the Federal Open Market Committee’s meeting later this month.

Sep 11 08:51

"Dear President Trump: America Is In For A Rude Awakening In January"

I’m sure some people in the mainstream media thought I was out of line — but the United Nations and the International Monetary Fund (IMF) have both confirmed this plan to replace the U.S. dollar is real. I’ve made this warning many times, but it seems to be falling on deaf ears. That’s why I’m writing directly to you.

Here’s the proof that the U.S. dollar is under attack, right in front of our eyes:

The UN said we need “a new global reserve system… that no longer relies on the United States dollar as the single major reserve currency.”

And the IMF admitted they want to make “the special drawing right (SDR) the principal reserve asset in the [International Monetary System].”

Sep 11 08:44

'Russia Can Convert Electricity Into Cryptocurrencies' – Venture Investor

Cryptocurrencies backed by natural resources would be more trusted than ones backed by banks, Alexander Borodich, the founder of the Universa block-platform and a venture investor, told Radio Sputnik on the sidelines of the Third Eastern Economic Forum (EEF) in Vladivostok.
Borodich said that, as a country rich in natural resources, Russia is able to convert electricity to cryptocurrencies through mining, thus generating as much cryptocurrencies as possible to trade with on the market.

Webmaster's Commentary: 

I have a vague recollection I have seen this idea somewhere else! :)

Sep 11 08:25

Is Venezuela About to Ditch the Dollar in Major Blow to US? Here’s Why It Matters

Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.

According to Reuters, Maduro was referring to Venezuela’s current official exchange rate, known as DICOM, in which the dollar can be exchanged for 3,345 bolivars. At the strongest official rate, one dollar buys only 10 bolivars, which may be one of the reasons why Maduro wants to opt for some of the weaker exchange rates.

Sep 11 04:24

De-Dollarization Continues As More Countries Separate Themselves From The Dollar

American's had to borrow big in July.  Wholesale inventories jumped to the highest since the November slide. Atlanta Fed is now reporting a 3.0 GDP number, completely manipulated.

Sep 10 18:02

The Long-term Cycle of Monetary Crisis

Sep 10 15:02

BTW: The US Dollar Has Been Crashing

Sep 10 11:28

Rickards: The Era of Complacency Is Ending

Sep 10 08:42

Harvey Hits Chain Restaurants – But Not Just Harvey

Worst downturn in foot traffic and same-store sales since 2009.

Sep 10 08:19

China questions German minister's 'one Europe' comments

China expressed dismay Thursday after Germany's foreign minister said Beijing should not "attempt to divide us" following complaints China uses its status as an investor to influence European Union decisions

Sep 10 08:19

Sigmar Gabriel’s mission to halt China’s investment spree

When German Vice Chancellor Sigmar Gabriel lands in Beijing Tuesday for talks with Chinese Premier Li Keqiang and other officials, he is set to deliver a one-two-three punch: Open your market for German investors, keep your government out of our businesses — and don’t mess with your closest European trading partner.

Sep 10 08:18

{WISHFUL THINKING IMAGERY} ~~ MOVE OVER PUTIN! KARL MARX IS COMING BACK!!

Suddenly, Marx is cool again, mainly because he was, and remains today, one of capitalism’s most astute critics.

Sep 10 07:59

Russian Mir cards to replace Visa, MasterCard soon  

Russia’s biggest bank Sberbank says it is preparing to issue 10 million credit cards to citizens – a move which is expected to take the country closer to a plan to replace rivals like Visa and MasterCard.

Sep 09 15:57

Credit Agency Equifax Threatened To Pay Up In Bitcoin Or Else

By Aaron Kesel

Credit reporting agency Equifax was hacked, potentially endangering 143 million Americans’ social security numbers, birth dates, and other private information. Unless, according to the alleged hackers who hacked them, Equifax pays the 600 BTC ransom (2.6 million dollars) by September 15th, according to a Darkweb onion site.

The supposed hackers note that they won’t publicly post credit card numbers of the credit agency, suggesting they may pawn them on Darkweb carding forums...

Sep 09 11:03

Here's Hartford's Risky Plan To Strongarm Concessions From Its Creditors

After Hartford Mayor Luke Bronin had warned Thursday that the capital of the wealthiest state in the US could be broke in as little as two months, city officials scheduled a conference call with bondholders to begin restructuring talks, according to Bloomberg.

As we noted earlier, Hartford’s financial troubles have been compounded by a broader crisis in the state government. But the city’s yearslong descent into insolvency has been hastened by corrupt and incompetent political leaders, fleeing middle-class residents – and now the hollowing out of the insurance industry that once provided a crucial tax buffer.

Webmaster's Commentary: 

This move could well blow up in Hartford's face.

Sep 09 10:08

US Assault Ship Loaded with Joint Strike Fighters Heads to North Korea

The USS Wasp is sailing from its homeport in Virginia to Sasebo, Japan, to join the US Navy’s 7th Fleet and bring Washington’s most advanced fighter jets to North Korea’s backyard.

The Wasp, an Amphibious Assault Ship and lead ship of her class, doesn’t have quite as much surface area for jets to take off and land as the larger Nimitz-class aircraft carriers, but the ship will still bring a new squadron of carrier-compatible F-35B aircraft to the 7th Fleet’s area of operations.

The F-35 B jets have the AV-8 B Harrier’s capability of taking off vertically, as a helicopter does, while also being able to operate in the air like fighter jets.

Placing the Amphibious Assault Ship in proximity to the Korean Peninsula “ensured that our most technologically-advanced air warfare platforms are forward deployed,” USS Wasp Cmdr. Andrew Smith said in an August 30 release.

Webmaster's Commentary: 

This does not auger well for peace on the Korean Peninsula.

Sep 09 10:04

SENATE BLOCKS RAND PAUL’S BILL TO GIVE MONEY TO HURRICANE VICTIMS INSTEAD OF FOREIGN DICTATORS

As estimates to fix the damage caused by Hurricane Harvey reach over $100 billion, the U.S. Congress has pushed for a bill that would raise the national debt in order to pay for it. Kentucky Sen. Rand Paul suggested a different solution—why not make cuts to foreign aid in order to help Americans in need?

“My amendment, the ‘America First’ amendment, would take the money from money that we were going to send to foreign countries,” Paul said. “We send billions and billions of dollars to countries who hate us. We send billions and billions of dollars to countries who burn our flag. I think it’s a very simple choice that when we’re looking at those in need in our country, we quit sending money to other countries.”

Paul noted that with the current budget, American taxpayers are funding a failed foreign policy by sending billions of dollars to countries such as Afghanistan, where President Trump recently promised to continue the longest war in U.S. history.

Webmaster's Commentary: 

This is absolutely logical, rational, and reasonable; which is why it had absolutely zero chance of getting passed by the Senate!!

Sep 09 08:18

Just in Time? "Tulip Mania" Blossoms Again

Sep 09 08:13

Bill Bonner: The end of bitcoin?

Sep 09 07:08

Culturally Responsive Teaching: connecting education to communities of color begins with Truth they are ongoing targets of illegal US .01% rogue state empire

*hyperlinks/videos live at source*

“One of the sayings in our country is Ubuntu – the essence of being human. Ubuntu speaks particularly about the fact that you can't exist as a human being in isolation. It speaks about our interconnectedness. You can't be human all by yourself, and when you have this quality – Ubuntu – you are known for your generosity. We think of ourselves far too frequently as just individuals, separated from one another, whereas you are connected and what you do affects the whole World. When you do well, it spreads out; it is for the whole of humanity.” ~ Desmond Tutu, 2008

Sep 09 05:50

The Era of Complacency Is Ending

Physicists say a “subcritical” system that’s waiting to “go critical” is in a “phase transition.” A system that is subcritical actually appears stable, but it is capable of wild instability based on a small change in initial conditions.

The critical state is when the process spins out of control, like a nuclear reactor melting down or a nuclear bomb exploding. The phase transition is just the passage from one state to another, as a system goes from subcritical to critical.

The signs are everywhere that the stock market is in a subcritical state with the potential to go critical and meltdown at any moment. The signs as elevated price-to-earnings (P/E) ratios, complacency, and seasonality — crashes have a habit of happening around this time of year.

Sep 09 05:42

Germany’s HUGE export secret: The one economy fact Merkel does NOT want the world to know

There has been growing scrutiny over Angela Merkel’s nation’s trade surplus, which has provoked anger from the United States’ president, but the balance sheet for 2017 will add fuel to that fire.

Over the course of the year Germany will sell more across its borders than even they expected with reports claiming exports have hit a “breathtaking rate since the financial and economic crisis”.

While firms, employees and the treasury have all seen the benefit, anger is growing from trading partners over the burgeoning account surplus.

Webmaster's Commentary: 

The problem isn't that Germany makes and sells products other nations want, but that the United States no longer does!

Sep 09 05:14

THE U.S. PETRO DOLLAR BREAKDOWN CONTINUES: Big Moves In Gold & Silver Ahead

The four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end. Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A. Let’s say, Americans will finally receive “Precious metals religion.”

The U.S. Dollar Index fell considerably yesterday and is now down below a key support level. In early morning trading yesterday, the U.S. Dollar Index fell to 91.46, down 73 basis points:

Sep 09 05:06

Venezuela Is About To Ditch The Dollar In Major Blow To US: Here's Why It Matters

Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along with a basket of currencies.

According to Reuters, Maduro was referring to Venezuela’s current official exchange rate, known as DICOM, in which the dollar can be exchanged for 3,345 bolivars. At the strongest official rate, one dollar buys only 10 bolivars, which may be one of the reasons why Maduro wants to opt for some of the weaker exchange rates.

Sep 09 04:48

California Dreaming – More than a third of California households have virtually no savings.

A lot of people do not equate California with poverty. You certainly don’t think of poverty when you look at real estate values in places like San Francisco even though the homeless issue is right in your face. The reality is that most people do not live lavish lifestyles. In fact, a new report highlights that more than one-third of California households have virtually no savings. These households would not have the ability to live at the poverty level for three months if one paycheck in the household was lost due to a job loss. You also have more than 2 million young adults living at home with their parents since the rent is too high. This isn’t the California that is presented in Hollywood movies.

Sep 08 18:15

Where Are We Going?

Sep 08 13:09

How To Invest In An Overvalued Market

Sep 08 13:04

Jim Kunstler Warns, America Is About To Become An "Even More Fragile Place"

Further proof, as if more were needed, that God is rather cross with the world’s number one exceptional nation: Hurricane Irma is tracking for a direct hit on Disney World. In the immortal words of the Talking Heads: This ain’t no party, this ain’t no disco, this ain’t no fooling around.

Houston is still soggy and punch-drunk, with a fantastic explosion of breeding mosquitoes, and otherwise it’s not even in the news anymore. This week, the cable networks had their scant crews of reporters scuttling around Florida, asking the people here and there about their feelings. “What’s gonna happen is gonna happen….” I think I heard that one about sixty times, and there’s actually no disputing the truth of it.

Sep 08 12:36

Anonymous anti-BDS group publishes ‘blacklist’ of boycott supporters in New York

Early last week, an unidentified group launched a shadowy website identifying New Yorkers believed to support the boycott, divestment and sanctions (BDS) movement for Palestinian rights—placing their photos, social media links and email addresses on a “blacklist” located at OutlawBDS.com. The list features ninety-seven individuals divided into the categories Campuses, Public & NPOs and Private Sector Activists.

Among those who appear on the so-called blacklist are professors, journalists, students, non-profit staff-members and executives.

Project OutlawBDS claims it was established by a group who “consider themselves to be analytical in their approach to the BDS movement,” whose stated intention is to “provide support for New York State Senate Bill S2492,” the latest attempt to pass anti-BDS legislation in the state.

Webmaster's Commentary: 

The only language Israel understands, regarding their treatment of the Palestinians, is economic; this is why, in my opinion, the BDS movement, in the most peaceful way possible, must continue.

Sep 08 11:54

Germany disputes size of Russian wargames, predicts 100,000 troops

Germany said on Thursday that Russia was planning to send more than 100,000 troops to war games on NATO’s eastern flank this month, disputing Moscow’s version that only 13,000 Russian and Belarussian servicemen would participate.

The Sept. 14-20 exercises known as Zapad, or “West” in Belarus, the Baltic Sea, western Russia and the Russian exclave of Kaliningrad, are stirring unease in NATO despite Moscow’s assurances troops would rehearse a purely defensive scenario.

“It is undisputed that we are seeing a demonstration of capabilities and power of the Russians,” German Defence Minister Ursula von der Leyen told reporters at an EU defense ministers’ meeting in Tallinn.

“Anyone who doubts that only has to look at the high numbers of participating forces in the Zapad exercise: more than one hundred thousand,” she said in a joint news conference with her French counterpart Florence Parly.

Webmaster's Commentary: 

Methinks Germany protests too much; and where in the world did she get that number of 100,000?!?

These Zapad exercises have been carried on by the Russians for a number of years; why the big panic now?!?

And BTW, why has NATO seen fit to envelop Russia's borders with NATO troops over the last several years?!?

Sep 08 11:34

Don’t Trust the Red Cross, 10 Ways YOU Can Help!!

Without Enriching Scammers

SALVATION ARMY !

Sep 08 11:29

‘Socialist Echo Chamber’ Pushing Amazon out of Seattle

The silver lining in Seattle's clouds.

Sep 08 10:30

It Begins, Central Bank Shake-Up & The Control Of The Fed

Canadian's are living paycheck to paycheck and if the paycheck was late most would not be able to pay their bills. Toronto real estate is beginning to pop and it looks like we are entering a bear market.

Sep 08 09:04

Amazon was tricked by a fake law firm into removing a hot product, costing this seller $200,000

The owner of Brushes4Less agreed to tell his story to CNBC but asked that we not use his name out of concern for his privacy. As far as he can tell, and based on what CNBC could confirm, Amazon was duped into shutting down the seller's key product days before the site's busiest shopping event ever.

"Just five minutes of detective work would have found this website is a fraud, but Amazon doesn't seem to want to do any of that," the owner said. "This is like the Wild Wild West of intellectual property complaints."

Brushes4Less is just one small business among millions that use Amazon's massive global operation to reach customers. But as the marketplace has grown to account for more than half of all goods sold on the site and as Amazon has expanded its dominance across online commerce, seller complaints have multiplied.

Sep 08 09:02

World's Most Powerful Bank Issues As Major Warning

Goldman Sachs has been at the heart of nearly every major banking scandal in recent history.

The company has settled lawsuits on countless charges, ranging from exchange rate manipulation, stock price manipulation, demanding bribes from their own clients, front-running retail customers, and just about every shady business practice that would put money in their pockets.

Yet throughout it all, Goldman Sachs has been protected from any serious punishment by its friends in highest offices of government.

Four out of the last eight US Treasury Secretaries, including the current one, have formerly been on the payroll of Goldman Sachs.

Three current Federal Reserve Bank presidents are Goldman Sachs alumni.

The current president of the European Central Bank and the current head of the Bank of England are both former Goldman Sachs employees.

You get the idea.

Sep 08 08:35

A staggering swath of newly built South Florida homes lay in Irma's path

Hurricane Andrew became infamous for its destruction of residential property, but Hurricane Irma is poised to overshadow the 1992 storm because there's so much more to destroy.

To say that South Florida has seen a pretty big construction boom in the last two decades is like saying Starbucks has a pretty big following. Even the housing crash didn't stop the cranes from returning with astonishing alacrity.

Looking out over the counties of Miami-Dade, Broward and Palm Beach, cranes are once again the unofficial bird of the region. Some 101 new condominium buildings with 11,860 units are under construction east of I-95, according to Peter Zalewski, founder of Cranespotters, a Florida real estate consulting firm.

"That doesn't include thousands of rental tower units, plus all of the development in the west," Zalewski added.

Sep 08 08:02

Dollar Bloodbath Continues Across Asia, Gold Tops Election-Night Spike Highs

Having plunged by the most in 6 months during the US day session, the dollar is continuing to get pounded across AsiaPac with Hong Kong Dollar and Yuan surging. Gold is extending gains, breaking above the spike highs from election night...

Sep 08 08:02

The Bubble Is Now So Massive Even Wall Street is Getting Nervous

The market bubble has become so massive that even Wall Street is nervous.

To be clear, investment banks do best when stocks are in a bull market. And they love bubbles because it means more M&A, IPOs, dead offerings, stock issuance and other deals from which they derive their revenues.

So for Wall Street CEOs to openly start warning that the market is in a bubble… they have to be really REALLY nervous about what they’re seeing... and know that a stock market crash is coming

On that note this week, not one but TWO major bank CEOs warned about the markets.

Sep 08 07:14

Brick & Mortar Meltdown: Toys R Us Hires Bankruptcy Law Firm

Private equity firms did it again.

Sep 08 06:59

3 Ways to Survive the Next Stock Crash

Sep 08 06:17

Consumer Credit & The American Conundrum

Sep 07 18:25

Toys R Us Hires Bankruptcy Law Firm

Toys R Us, with 1,694 stores globally, has $5.2 billion in long-term debt, according to its latest quarterly report, and sports a negative equity of $1.3 billion. Quarterly sales declined 4.8% year-over-year, to $2.2 billion. This isn’t a one-quarter dip: sales are down 15% from the same quarter in 2012. And the net loss jumped 30% year-over-year to $164 million.

The company needs to restructure its debts, particularly $400 million that is coming due in 2018, and a bankruptcy filing is one of the options, “sources familiar with the situation” told CNBC on Wednesday.

Webmaster's Commentary: 

This is going to result in a lot of economic dominoes falling, if this firm cannot get the funding it needs, and has to resort to bankruptcy.

Sep 07 17:50

Photographer: Simon Dawson/BloombergThree Equifax Managers Sold Stock Before Cyber Hack Revealed

Trio didn’t know about the intrusion when selling, firm says
Shares tumbled in late trading after company disclosed breach
Three Equifax Inc. senior executives sold shares worth almost $1.8 million in the days after the company discovered a security breach that may have compromised information on about 143 million U.S. consumers.

The trio had not yet been informed of the incident, the company said.

The credit-reporting service said late Thursday in a statement that it discovered the intrusion on July 29. Regulatory filings show that three days later, Chief Financial Officer John Gamble sold shares worth $946,374 and Joseph Loughran, president of U.S. information solutions, exercised options to dispose of stock worth $584,099. Rodolfo Plodder, president of workforce solutions, sold $250,458 of stock on Aug. 2. None of the filings lists the transactions as being part of 10 b5-1 scheduled trading plans.

Webmaster's Commentary: 

IF these men did not know about about the breach, why, precisely, did they unload these stocks at about precisely the same time?!?

And Ms. Gurzmer, a word, please: If you think that the American people are going to believe this tripe, I would refer you to President' Bush's lie about "Saddam Hussein has weapons of mass destruction."

Look at the timing of the transactions; 29 July; and 2 August; there is no way that the breach would not have been the reason for the selling of these shares.

Your cleverly concocted bit of codswallop will be swallowed whole by anyone; Equifax, once highly respected, will now be eschewed, as though all of your employees had instantly become antibiotic-resistant plague-carriers.

Sep 07 16:32

Opioid use is responsible for 20% of the drop in American men in the US labor force, Princeton study says

Princeton University economist Alan Krueger conducted a comprehensive review of data from the past 15 years on prescription rates and the amount of people in the labor force.

He concluded that there had been a shift in prescription rates which affected the amount of men in work.

And this, he said, appeared to be down to a change in medical habits (i.e. drug abuse) as opposed to medical conditions.

Ultimately, his study said the rise in the rate of painkiller prescriptions from 1999 to 2015 accounted for 20 percent of the drop in men in the workforce, and 25 percent of women.

Sep 07 14:44

Consumption Exhaustion

Sep 07 14:19

Disaster Relief: Capitalism And Socialism

In human society, there is no such thing as a purely “natural” disaster. While storms, flooding, landslides and other emergencies are in some sense “acts of nature,” we cannot fully separate the natural event itself from the social context in which it occurs. In the United States, the capitalist system worsens and profits off of disasters, whereas in socialist China, a robust response system based on human need lessens the impact of disasters. This can be seen clearly by comparing relief efforts in the U.S. and China, as well as other socialist countries.

Sep 07 12:37

WELLS FARGO CAUGHT WITH ANOTHER 1.4 MILLION FAKE ACCOUNTS,

WILL ANYONE EVER GET JAILED?

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