ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 11 13:36

Class Action Lawsuits Against Banks & Credit Card Companies Now Easier To Join

Banks and credit card issuers will no longer be allowed to use private arbitration clauses to prevent class action lawsuits, thanks to a new rule set forth by the CFPB. The new rules have been two years in the making.

Jul 11 12:58

Denver To Get Its First Tiny House Village For The Homeless

This month, fourteen Denver residents will be moving into their newly-built tiny homes as members of the Beloved Community Village. They will move into their new houses after approximately four years of hard work, from advocates for the homeless population of Denver. The Beloved Community Village consists of 11 tiny homes, with each two-person unit measuring just 8-foot-by-12-foot. Also on site is a community space, shared shower facilities, and shared restrooms.

Jul 11 12:38

The Modern US Dollar — 38 incredible facts.

Just Remember, Nothing Last Forever…

Jul 11 12:09

Advice firm promoting Ukrainian property fund goes bust

Cumulus Investment Management, a UK investment firm which has previously come under fire for advising clients to invest in a high-risk Ukrainian property scheme, has officially been dissolved.

Jul 11 11:59

‘Hidden Crisis’: Extent Of Homelessness In UK Countryside ‘Underestimated’

People are sleeping rough in parked cars and barns in the countryside because the stigma attached to homelessness in rural areas is “much stronger” than in cities, a new report says.

According to a study by the Institute for Public Policy Research (IPPR) think tank, the “hidden crisis” of homeless people in England’s countryside is being “underestimated” as people bed down away from the public eye in places like parked cars, barns, outhouses and tents.

Jul 11 11:54

Diminishing Birth Rates – Why Is the First Political Solution Race Replacement?

One of the greatest political oddities is that across European nations, the first and last solution to diminishing birth rates is to decide that the next generation of Europeans should be a completely different race. There is a certain shortsightedness in this idea that is not only morally questionable, but also economically stupid.

Jul 11 11:53

US Deploys Advanced Anti-Aircraft Missiles in Baltics for First Time

Lithuania’s Defense Ministry has made a surprise announcement today that the United States has deployed an unspecified number of Patriot missile batteries into Lithuania, nominally for a military drill that is ongoing for the next two weeks.

This marks the first time such advanced US anti-aircraft weapons have been deployed into one of the Baltic states, and the deployment is expected to last beyond the current exercise, with Lithuanian officials saying it proves the US military commitment to them.

Lithuanian officials have the impression the missiles would be there at least through Russia’s own military exercises in the region in September, which are expected to be held near the NATO border regions, and which Lithuanian officials have been hyping as a “threat.”

Webmaster's Commentary: 

WHAT Russian threat is there to Lithuania, or Poland, please?!?

In a word, non-existent.

However, what we are seeing is a string of NATO detachments, encircling Russia; toward what final end, perhaps, a NATO war against Russia?!?

Jul 11 11:47

Stay away from bitcoin and ethereum — they are complete garbage - MarketWatch

Cryptocurrencies, or cybercurrencies, which were in a massive financial mania until their sudden selloff that started last month, have two actual applications: online gambling and money laundering. Neither is the heart of a major business model. But that’s it.

And these, preposterously, are the fundamentals behind a mania that has driven these currencies up thirtyfold, so that today, in aggregate, the market for them is a staggering $82 billion.

None of the defenders’ other arguments stack up.

Online currencies are hardly a “store of value” when they can fall, say, about 30% in a week.

Jul 11 11:07

World Stocks Rally, Dollar Up To Two-Month High Against Yen

Stock markets rallied on Monday and the U.S. dollar hit a two-month high against the yen, as robust economic data from the United States and Germany left investors increasingly confident about the strength of the world economy.

Jul 11 10:38

Italy warns Germany and France fixated EU ‘ignore us at your peril’

Bruno Maçães, who was Portugal’s EU minister between July 2013 and November 2015 told the Express.co.uk that Italians were increasingly drawing the link between the country’s economic woes and its EU membership.

Mr Maçães said: ‘The big problem is that Italy has not grown since the start of the euro, its been basically stagnant for 16 or 17 years.

“This is not sustainable, and of course more and more people are making the connection and asking, publicly, whether the euro is to blame for Italian stagnation.

Jul 11 10:37

Italy swoops in to save another bank leaving taxpayers on the hook for over $25 billion

The Italian state has stepped in with funding to save yet another failing bank, meaning taxpayers now stand responsible for over 22 billion euros ($25.4 billion) of bailout money recently extended to the sector.

Finance Minister Pier Carlo Padoan announced late Tuesday that the government had received approval from the European Commission to pump 5.4 billion euros into Banca Monte dei Paschi di Siena (BMPS) in exchange for the lender undertaking a major restructuring overhaul.

Jul 11 10:18

Nevada marijuana supply running low, state of emergency declared, governor says

I never thought I would live to see the day a Governor declares an emergency over lack of weed. They must have elected one of the Freak Brothers as governor. I like this guy!

Nevada state officials declared a state of emergency after stores that sell recreational marijuana reported that their supply is running out just less than two weeks after the drug went on sale legally.

Gov. Brian Sandoval, R-Nev., issued the state of emergency on Friday, which will allow state officials to decide on new rules that could ease the shortage of marijuana, according to Fox 13 Now.

Jul 11 10:17

Currency Bubble = Dollar In Big Trouble

Jul 11 10:04

The Sad Death of American Towns through Globalisation – Or – Never Trust Walmart

When major employers come to a town, replace the local businesses, suck up the people they have made unemployed and then leave a few years later, there is very little hope of recovery. It is destroying towns and families. And what’s worse, it makes the victims complicit in their own demise.

Jul 11 10:04

Germany Pensions System Crisis

The German publication DWN has come out and warned that the German Pensions system is collapsing.

Jul 11 09:08

Stock Market Tsunami Siren Goes Off

It will be ignored until it’s too late.

Jul 11 09:04

NUMBER OF YOUNG MEN NOT WORKING HAS DOUBLED IN 15 YEARS

Young men are working less and playing video games more, according to a National Bureau of Economic Research study published Monday.
Men ages 21 to 30 years old worked 12 percent fewer hours in 2015 than they did in 2000, the economists found. Around 15 percent of young men worked zero weeks in 2015, a rate nearly double that of 2000.

Jul 11 08:49

Death Of The Middle Class: The Suburbs Have Absorbed Half Of America’s Poverty Growth

For decades suburbia was home to the highest concentration of wealth in America, and perhaps even the entire world. It was the seat of our nation’s thriving middle class and a beacon of economic mobility. The streets were clean and safe, the schools were highly regarded, and there were plenty of middle class jobs to be had.

But something has changed in suburbia. While offshoring and automation have destroyed millions of jobs across the country, the decimation of brick and mortar stores by online retailers has pounded the wealth base of suburbia. So much so, that there are more people living in poverty in suburbia than any other place in America.

Jul 11 08:45

Obamacare Death Spiral: At Least 2 Million Adults Ditch Coverage In 2017 Amid Soaring Premiums

As Democrats continue to defend an obviously failed Obamacare system, the effects of soaring rates and collapsing coverage options seem to be taking a toll on the number of people actually buying health insurance these days. According to the "Gallup-Sharecare Well-Being Index," the percentage of uninsured adults in the U.S. bottomed out at 10.9% in Q4 2016 but has since increased to 11.7% in just the first two quarters of 2017.

Jul 11 08:00

India Removes 220 Tons of Physical Gold

We recently reported how the people of India has swallowed a massive 1,473 tons of silver in the month of May 2017. Not only was this one of the largest months for Indian silver imports it was more ounces of silver than the U.S. Mint had sold Silver Eagles in the whole of 2015. 2015 set the new all time high for American Silver Eagle sales and it took the U.S. Mint all year to do what India did in one month! Impressive to say the least.

Now we learn that India also imported a massive volume of gold during the month of May 2017, more than double any other month in the last 12 months.

Jul 10 18:36

IMF wants Germans to retire later, save less & spend more

The International Monetary Fund has urged German authorities to raise the effective retirement age above 67, saying an aging population could work longer and hence save less and spend more.

Jul 10 16:41

Working Past 70: Americans Can’t Seem to Retire

More and more Americans are spending their golden years on the job.

And the trend looks likely to continue.

Jul 10 15:54

Craigslist Used in Deadly Ploy to Lure Victims in Ohio

More bodies may still be found, as the bogus advertisement, which was picked up by online job aggregators, drew more than 100 responses from Ohio and other states.

Continue reading the main story
In Ohio, hit hard by the recession, the abundance of eager applicants pulled in by the advertisement has surprised no one, stirring talk about the lengths that people will go these days to find employment. “People here are desperate for work,” said a clerk at a motel in Akron, whose employer did not want him to give his name.

The police have suggested robbery as a motive, but other theories have also circulated, including identity theft and, perhaps more chilling, simply a desire to kill. The perpetrators appeared to be looking for loners who would not be missed.

Jul 10 15:53

Think twice before answering that ad: 101 murders have been linked to Craigslist

Nine days ago, a disturbing missive appeared on the Craigslist page for Tulsa, Okla.

“I was wanting to thank Tulsa for letting me have my first kill,” the post begins. “It will not be my last thou (sic).”

The post has since disappeared from Craigslist, but not from the radars of concerned Oklahomans. A spokeswoman for the Tulsa Police Department said an investigation is ongoing. The homicide squad has found no open cases matching the murder described in the post, at least not within the past few months; they haven’t ruled out the possibility that the post is a prank or a hoax.

Jul 10 15:24

Sam's Club and Sears, warn of more layoffs

Jul 10 15:21

America's Royalty: The Welfare Kings And Queens. Try not to get angry...

"A quick look into the status of welfare benefits, the recipients, and those who abuse the system. It needs to be fixed."

Jul 10 15:19

Pricey jean manufacturers going bankrupt

Jul 10 15:05

These Days Young Men In America Are Working A Lot Less And Playing Video Games A Lot More

If you could stay home and play video games all day, would you do it?  According to a brand new report that was released by the National Bureau of Economic Research on Monday, American men from the ages of 21 to 30 are working a lot less these days. 

Jul 10 13:53

NEW BILL WOULD REQUIRE PEOPLE TO DISCLOSE CRYPTOCURRENCY HOLDINGS AT THE BORDER

A new bill introduced in late May in the United States Senate would require people entering or leaving the United States with $10,000 or more in cryptocurrency to declare their holdings to US Customs and Border Protection agents. The bill has been introduced in the 115th Congress as S.1241, and known as the Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017. Currently this regulation is already applied to cash and money orders. The bill’s prime sponsor is Republican Senator Chuck Grassley of Iowa. The bill has some bipartisan support, co-sponsors of the bill include Democratic Senator Dianne Feinstein of California, Democratic Senator Sheldon Whitehouse of Rhode Island, and Republican John Cornyn of Texas.

Jul 10 13:52

WORLD’S 2ND LARGEST SILVER MINE SHUT DOWN: Implications For Company & Market

The world’s second largest primary silver mine, Tahoe Resources Escobal Mine, was forced to shut down operations in Guatemala by a ruling from the country’s Supreme Court. 

Jul 10 13:19

Ned Schmidt – End of the Tech Fantasy?

Jul 10 12:06

Illinois Approves First Budget In 2yrs As ‘Junk’ Credit Status Looms

Lawmakers approved the first full-year budget in Illinois since 2015, after overriding the governor’s veto of the spending plan. The move, however, might not be enough to save the state from becoming the first in the US with a “junk” credit rating tag.

Jul 10 11:57

China Creates Pacific Shipping Giant With Cosco's Orient Takeover

The Baltic Dry Index has retraced most of its 55% surge from March, yet the mild recovery in shipping fees since early last year appears to have revived appetite for a renewed wave of consolidation in the shipping space. For a price of $6.3 billion (HK$78.67 a share) - equivalent to an eye-popping premium of 112% of the stock’s one-year trading average - Cosco Shipping's purchase of Hong Kong-based Orient Overseas makes the Chinese state-owned firm the world’s third-largest bulk shipping company, and the largest servicing the lucrative Asia to North America route, beating out Copenhagen-based A.P. Moller-Maersk and France’s CMA CGM.

Jul 10 11:53

Foxconn Considering Bringing 10,000 Jobs To Southeastern Wisconsin, Assembly Speaker Says

Foxconn Technology Group is considering bringing 10,000 jobs to southeastern Wisconsin, leaders of the state Assembly said Wednesday.

With their passing reference to the proposed project in a memo, the leaders became the first high-ranking state officials to acknowledge the Taiwanese company is considering a massive presence here.

Jul 10 11:11

Janet Yellen: False Prophet of Prosperity

Jul 10 10:09

Pentagon Gives Lockheed Billions to Keep Working on F-35s

The Defense Department has awarded Lockheed Martin Corp. a $4.49 billion undefinitized contract action to continue production on the latest batch of F-35 Joint Strike Fighters even as it continues to negotiate a firm price for the fifth-generation jets.

The UCA — a type of contract in which bottom-line terms or prices have not been agreed upon before performance is begun — stipulates a max price of $5.6 billion for Lockheed to continue working on the Low Rate Initial Production, or LRIP, lot 11 jets, according to the F-35 Joint Program Office.

Lockheed is “expending money to keep the production line going,” JPO spokesman Joe DellaVedova told Military.com via telephone on Friday. So “we want to pay them for the work they they’re doing [to] obligate funds for the Lot 11 aircraft.”

The prices for individual jets are still being determined, according to the office.

Jul 10 09:38

Australian government to track $100 notes with nano-chips as cashless society looms

The Australian government plans to crack down on the ‘black economy’ by implanting $100 and $50 notes with hi-tech nano-chips so they can be surveilled.

No this isn’t a futuristic Hollywood movie, this is Australia in 2017.

Jul 10 08:41

DYING MIDDLE CLASS: THE NUMBER OF AMERICANS THAT CAN’T AFFORD THEIR OWN HOMES HAS MORE THAN DOUBLED

Have you lost your spot in the middle class yet? For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. According to a report that was produced by researchers at Harvard University, the number of Americans that spend more than 30 percent of their incomes on housing has more than doubled. In 2001, nearly 16 million Americans couldn’t afford the homes that they were currently living in, but by 2015 that figure had jumped to 38 million.

Webmaster's Commentary: 

This is not accidental, but completely deliberate, on the part of the Federal Government.

And why?!? Because traditionally, protests against government policies began with the middle class.

Offshoring/outsourcing of jobs, which were once the bedrock of the American middle class has caused many individuals to be working several minimum wage jobs, just to barely survive.

That kind of financial survivalism mode with which these people have had to contend, since losing a decent paying job, has spawned shows like "Extreme Couponing", which features people whose frugality appears to be on steroids.

Jul 10 08:02

BEIJING: CHINA SET TO HELP REBUILD SYRIA

With many in Damascus increasingly confident that Syria will win the war against the terrorists who have invaded their country, focus is starting to gradually shift to re-building Syria’s damaged infrastructure. China is set to be the key player in this respect and preparations to increase China’s business ties to Syria are already in the works.

On Sunday the China-Arab Exchange Association in cooperation with the Syrian Embassy in Beijing held the Syria Day Expo where Representative from over 1,000 Chinese business specialising in redevelopment, infrastructure and investment met with Syrian officials.

The event itself is something of a prelude to a forthcoming larger event, the Syrian Reconstruction Expo.

Imad Mustafa, the Syrian Ambassador to China confirmed that China will be given priority in the rebuilding of post-conflict Syria.

Webmaster's Commentary: 

The Chinese government, unlike that the US government, has the ability to look at the long view of things, to see what mutually beneficial relationships may come from economic collaboration.

This coming relationship with Syria is simply a manifestation of that capability of perspective.

Jul 10 07:48

The Inevitability Of DeGrowth

Jul 10 06:55

BEIJING: CHINA SET TO HELP REBUILD SYRIA

With many in Damascus increasingly confident that Syria will win the war against the terrorists who have invaded their country, focus is starting to gradually shift to re-building Syria’s damaged infrastructure. China is set to be the key player in this respect and preparations to increase China’s business ties to Syria are already in the works. On Sunday the China-Arab Exchange Association in cooperation with the Syrian Embassy in Beijing held the Syria Day Expo where Representative from over 1,000 Chinese business specialising in redevelopment, infrastructure and investment met with Syrian officials.

Jul 10 03:09

Dying Middle Class: The Number Of Americans That Can’t Afford Their Own Homes Has More Than Doubled

Have you lost your spot in the middle class yet?  For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another one. 

Jul 10 02:50

Scott Adams: North Korea is an Information Problem Disguised as a Military Problem

In the year 2017, most of our national problems are information problems. And by that I mean having the right information would allow us to solve most problems.

Consider the nuclear threat from North Korea. That’s an information problem disguised as a military problem.

I hope that statement seems wrong to you, so you will be extra-impressed when I change your mind in the next hundred seconds.

Jul 09 16:31

Kevin Lawton – Cryptos Are Speculation Not Currency, Bitcoin Civil War Coming Soon

Kevin Lawton, recently wrote a Kindle short titled “Beyond the Bitcoin Trap: A Crypto Currency for Human 2.0” predicts, “This year is going to be the year of volatility in Bitcoin price.

Jul 09 16:23

The Motorcycle Industry Is Dying

Jul 09 08:53

'F**k the rich!' What Jeremy Corbyn REALLY thinks of high-rate taxpayers

The explosive quote was attributed to the then-backbencher MP in 1997, as he addressed a crowd of young demonstrators, just months after Tony Blair swept to a huge majority in the election with his centre-left policies.

Speaking in London’s Hyde Park on November 26 1997 during a rally against the cutting of university grants introduction of fees, Jeremy Corbyn said: "We have to address the problems of society by redistributing wealth. F**k the rich!"

Jul 09 08:11

How teachers, firemen and college endowments ended up enriching America’s hedge fund billionaires

Public pensions and college endowments are some of the biggest investors in hedge funds, investment vehicles that have made their managers some of the wealthiest people in the world.Middlemen funnel this public money into the hedge funds, as do funds of funds. All of them collect fees.Pensions could have been better off investing in cash than in hedge funds, largely because of the high fees investors pay hedge fund managers. Hedge funds haven’t met the expectations for endowments over the past several years, either.

Jul 09 06:52

A Supercomputer Is Betting on a Market Crash in the Months Ahead

One of the world's most powerful supercomputers, retrofitted for trading the stock market, appears to be betting on a crash in the months ahead.

Jul 08 16:10

The Silver Flash-Crash - "There's No Such Thing As A Bad Tick"

Last night at 6 o’clock, someone wandered into the silver futures pit and sent silver down almost 11% almost instantaneously.

At first, I thought someone fat fingered it. But when the bounce was weak, it quickly became obvious that no one needed to buy back their error.

We had a saying on our old trading desk - “there is no such thing as a bad tick.” What we meant with that expression was that if the market allowed a seemingly violent tick to occur, it often indicated this was the path of least resistance. Many times that supposedly bad tick would be traded legitimately in the coming sessions.

Jul 08 15:23

Amazon cornered Whole Foods into not seeking more bids, filing shows

Amazon.com Inc (AMZN.O) told Whole Foods Market Inc (WFM.O) it would not engage in a sale process for the U.S. grocer that involved other bidders, a regulatory filing showed on Friday, shedding new light on the $13.7 billion acquisition.

The previously undisclosed details on the negotiations show how Amazon used its deep pockets and brand as leverage to convince Whole Foods to accept a sale process that would not result in a bidding war.

Jul 08 15:18

Wearable maker Jawbone insolvent, two years after $3bn valuation

Jawbone has announced it's shutting down and liquidating its assets. The 18-year-old technology company, best known in recent years for its work in the wearables market, was once worth $3 billion. It's one of the biggest tech firms ever to collapse.

Jul 08 14:34

Catalonia and Spain to Push Each Other into Financial Abyss?

Markets are still complacent.

Jul 08 13:34

The poison of commercialisation and social injustice

Graham Peebles recounts the harm done to societies by commercialisation, and says an alternative built on sharing, common purpose and recognition that collaboration, not competition, is the way forward, is beginning to take root.>>

Jul 07 21:10

Walmart Is Selling a $299 Cannabis Rosin Press. So We Bought One

As thousands of YouTube videos illustrate, the process of extracting rosin at home can be messy and inefficient. That’s why the good folks at Walmart—yes, that Walmart—want to spare cannabis lovers from using hair straighteners and other ad hoc tools.

Alongside its virtual aisles of firearms and Febreze, the world’s largest retailer just added a rosin press. It doesn’t seem too shy about it, either. On its website (the press is only available online) Walmart describes the Rosineer RNR-MV1 as a “dab machine.”

Jul 07 17:20

Foxconn Considering Bringing 10,000 Jobs To Southeastern Wisconsin, Assembly Speaker Says

Foxconn Technology Group is considering bringing 10,000 jobs to southeastern Wisconsin, leaders of the state Assembly said Wednesday.

Jul 07 15:54

Illinois Approves First Budget In 2yrs As 'Junk' Credit Status Looms

Lawmakers approved the first full-year budget in Illinois since 2015, after overriding the governor’s veto of the spending plan. The move, however, might not be enough to save the state from becoming the first in the US with a “junk” credit rating tag.

Jul 07 15:30

They've ruined Christmas! EU meddling will see UK shelves empty of butter and cream

BRITAIN’S shelves will be bare of cream and butter by Christmas because of EU meddling in markets, farmers warned today.

And what festive cream and butter products there are will be cripplingly expensive – meaning families might have to eat their mince pies dry and skip the brandy butter.

Peder Tuborgh, chief executive of the farmer-owned firm, Arla, said the UK would be facing a butter and cream shortage in the run-up to the festive period.

The boss of the dairy giant said that because of a fumbled EU scheme aimed at reducing production there was insufficient milk being supplied by farmers to create vital dairy products.

Speaking to Radio 4’s Today programme on Thursday, Mr Tuborgh insisted the industry knew there would be a shortage of cream and butter at the end of the year.

Jul 07 11:59

State Pension Crisis Leading to High-Tax Exodus

Many public pension plans are dragging down their respective state and local governments, and the root of the problem is legislative inflexibility and demographic shifts, stated Chicago resident Jim Bianco, head of Bianco Research.

Jul 07 11:22

Americans Who Can’t Afford Their Homes Up 146 Percent

Over 38 million American households can't afford their housing, an increase of 146 percent in the past 16 years, according to a recent Harvard housing report.

Under federal guidelines, households that spend more than 30 percent of their income on housing costs are considered "cost burdened" and will have difficulty affording basic necessities like food, clothing, transportation and medical care.

Jul 07 10:44

Report: Homelessness in NYC Spiked by Nearly 40 Percent in 2017

The homeless population in New York City increased by nearly 40 percent in 2017, according to a new survey.

The most recent annual survey from the city’s Department of Homeless Services noted that the city had 3,892 homeless people as of February 2017, a 39 percent spike in homelessness from February 2016, when the homeless population consisted of 2,794 people, NBC New York reported.

Jul 07 10:39

Panicked BOJ Unleashes Bond Buying Bazooka: Offers To Buy Unlimited 10Y JGBs At 0.11%

During this morning's bond rout when a poor French auction sparked a high-volume selloff in German Bunds which also hit Japanese JGBs before slamming US TSYs, Goldman said that "with 10Y JGBs closing at 0.095 and getting hit at 10bp intraday, focus will be on how the BOJ will react tomorrow [i.e. now]. Opinions seem pretty split with some expecting an increase in purchase size in the 5-10 bucket, while others feel that the BOJ will let the 10Y run loose given the current sell off is more fundamental than event driven. With BOJ behind buying pace for 80tn reference anyway, personally I feel it doesn't hurt the BOJ to remind market of their presence."

Jul 07 10:38

Stockman: "We're On The Fast Track To 'Carmageddon'"

Back in the 1950s when GM had 50% of the auto market they always said that, “As General Motors goes, so goes the nation.”

That was obviously a tribute to GM’s economic muscle and its role as the driver of growth and rising living standards in post-war America’s booming economy. Those days are long gone for both GM and the nation. GM’s drastically reduced 20% market share of U.S. light vehicle sales in June was still an economic harbinger, albeit of a different sort.

GM offered a record $4,361 of cash incentives during June. That was up 7% from last year and represented 12% of its average selling price of $35,650 per vehicle, also a record. But what it had to show for this muscular marketing effort was a 5% decline in year-over-year sales and soaring inventories. The latter was up 46% from last June.

Jul 07 10:32

The Federal Reserve and Mainstream Media’s Moronic Statements On The Whole Foods Buyout

It’s already bad enough we live in a world overpopulated by idiots. Worse, they are often in charge of ‘the monetary system’ and even head up ‘the media’! Luckily for tomorrow, entrepreneurs are busy developing a decentralized crypto-monetary platform for a money that nobody can control, and an alternative media, of which we are part.

Jul 07 09:38

EU chief trolls Theresa May and UK over global Brexit vision as it seals Japan trade deal

The EU Council boss said claims that it is easier to trade with the world outside the bloc than in it were “not true” and that eurocrats were “proving” this with their outward looking approach.

One of the key reasons for Britain’s vote to leave the bloc was the notion of regaining sovereignty over trade matters, which all member states cede to the EU Commission which negotiates on their behalf.

Jul 07 09:17

Italy Openly Discusses Euro Exit In Parliament: Debt Restructuring Or "Italeave" On The Way?

In Europe, where it is essentially taboo to publicly discuss anything deemed politically incorrect, some interesting conversations are taking place in the Italian parliament regarding the future of Italy in the eurozone.

Via email, Eurointelligence asks Is Italy heading for debt restructuring or euro exit?

Jul 07 08:46

Illinois BANKRUPTCY caused by BIG PHARMA!

Jul 07 08:27

Microsoft to lay off 'several thousand' employees

Three days after announcing internally its latest reorg, Microsoft has announced the resulting layoffs that have been rumored for the past week.

On July 6, Microsoft officials said they were notifying employees whose jobs were being cut.

One source close to the company said Microsoft would be cutting "several thousands" of employees. CNBC said Microsoft would be shedding up to 3,000 employees, but didn't cite the source of that number.

Jul 07 07:11

Illinois – Poster Child for the Coming Sovereign Debt Crisis

Illinois House had voted 72-45 to pass a 32% income tax hike as government refuses to address the real issue of a never-ending need for more and more tax revenue to keep state employees rolling in their pensions. The governor vetoed the tax increase and he was overriden.

Jul 06 18:47

Congress joins Trump war on regs, cuts a year's worth in one week

Congressional lawmakers have gone all in on President Trump's bid to slash Obama-era regulations, targeting $19 billion in rules and the elimination of enough red tape to free up 5,200 federal workers, according to a new analysis.

The cuts proposed by the House Appropriations Committee this week amount to a year's worth of regulations under the Obama administration, said the report from American Action Forum.

Analyst Sam Batkins wrote, "The suite of appropriations bills released this week goes further, curtailing more than $19 billion in total regulatory costs and eliminating 10.4 million hours of paperwork, the equivalent of eliminating all regulations from 2006 and freeing 5,200 employees from paperwork compliance."

Jul 06 16:18

Will Stocks Crash 25% in 3 Months? See the great investor Ron Paul…

Precariously overstretched equity valuations and the purportedly “data dependent” Federal Reserve’s insistence on raising interest rates could bring about the next market correction as soon as October, former Congressman Ron Paul said during a recent appearance on CNBC’s “Futures Now.”

Jul 06 15:48

Brick-and-Mortar Meltdown in June: Who Got Crushed?

The private-equity protocol of asset stripping bears fruit.

Jul 06 15:25

Microsoft hits Alt-F4 on 3,000 global sales staff

Why employ people to flog software when you can just force feed people's computers with code anyway?

Jul 06 14:16

Don’t Hold Your Breath For Deeper OPEC Cuts

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