ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 24 10:21

Gun Owners of America: Paul Ryan’s Obamacare 2.0 Still Contains Gun Control

Trump is becoming a nightmare!

Gun Owners of America (GOA) is warning that House Speaker Paul Ryan’s Obamacare 2.o still contains measures that will allow doctors, insurance companies, and the ATF to use medical records to further a gun control agenda.
The first thing GOA points out is that Ryan’s bill “needs to be amended to prohibit the ATF from trolling the national health database, or Medicaid, or any new entitlement program for persons with PTSD, Alzheimer’s, ADHD, or merely ‘anxiety.’” GOA says the recently repealed Social Security gun ban allowed such trolling, which opened the door to the ATF growing the list of the persons prohibited from gun ownership based on otherwise private information gathered from health records.

Mar 24 09:56

Russia Prepares For Split With International Banking System

Russia has successfully developed and implemented an alternative should it be excluded from international banking systems, according to a recent report.

As far as western sanctions go, by far Russia's largest vulnerability is in its banking sector, which for better or for worse is tied to the hip with international banking.

If Russia wishes to maintain the status quo, there's not much that can be done about this dependency. But shortly after sanctions were announced in 2014, Moscow set out to prepare for the worst-case scenario: being cut off from the Worldwide Interbank Financial Telecommunication (SWIFT) system.

Mar 24 09:42

Stocks Poised To Stumble If Trump's Health Bill Flops

As Republican lawmakers scurry to cobble together enough votes to pass the House Health Care bill on Thursday, some chinks in the armor are beginning to appear. The stock market has rallied soundly in recent months amid expectations for significant tax reform and infrastructure legislation.

The ability or failure of the Republican controlled Congress to pass the health care bill will be viewed as a litmus test on their ability to move forward on other key economic legislation.

If financial markets become concerned that economic-growth producing proposals such as tax reform and infrastructure spending may have difficulty moving along the legislative track, the stock market will need to reprice, which means lower prices ahead.

Mar 24 08:12

Russian Roulette, Central Banks, and Gold

Grab your ultra-reliable 357 magnum revolver and load the cylinder with six, not one, rounds of ammunition. Point the gun at your head if you are a member of the struggling middle-class. Imagine pulling the trigger and hoping …

Do you feel lucky?

The Six Loads of Ammunition for your 357 revolver are:

Mar 24 08:04

AFTER US REFUSED TO CHARGE THEM FOR LAUNDERING TERRORIST MONEY, MEGABANKS BUSTED AGAIN

An investigative reporting coalition recently released a report alleging a multi-billion dollar money laundering operation that has affected hundreds of banks and companies in 96 countries including the repeat offender, HSBC.
In 2012, HSBC, one of the world’s largest banks, settled with the U.S. Government, avoiding criminal prosecution of its executives, for helping to launder money for Mexican drug cartels as well as Al Qaeda. According to the US Senate’s report, which investigated the matter, HSBC provided a “gateway for terrorists to gain access to U.S. dollars and the U.S. financial system.”

Webmaster's Commentary: 

Hey, this is SOP (standard operating procedures) for the TBTF (too big to fail) banks; I'm not surprised, and unless and until the executives who signed off on these actions get prosecuted and jailed (and I am talking about hard time, and NOT a "Club Fed"), such practices will continue.

When all prosecutors like Lynch do is a slap on the wrist, through fines, and not prosecuting individuals who thought these kinds of actions were "a good idea" persist, nothing will change.

Additionally, the rich very rarely eat their own; I do not know what the lady's net worth may be, but I don't think she left her position as Attorney General a pauper

Mar 24 07:42

'This is the WRONG direction’ Furious German row after minister calls for MORE EU funding

A WAR of words has erupted in Germany after the nation’s foreign affairs minister said his country should pay more into the Brussels bank to help ailing Greece.

Mar 24 03:43

Member Of Congress Warns Of A 1,000 Point Stock Market Crash If Obamacare Lite Does Not Pass

But fixing our failing healthcare system is far more important than trying to prop up the financial markets, and so the strong conservatives in the House are quite right to stand by their principles.

Simply “tweaking” Obamacare is not going to fix anything, and it is extremely disappointing that President Trump and Paul Ryan are advocating such an approach.

Mar 23 17:57

Meals On Wheels Is Just The Beginning: Economist Mark Price On Trump's Proposed Cuts

A disabled pilot opens a prepared meal at his home in Portland, Oregon, July 12, 2010. Meals on Wheels, a program that Donald Trump plans to cut, has been the subject of many peer-reviewed studies in the medical literature, most of which show that the program improves the quality of people’s diets, increases their nutrient intake and reduces their food insecurity and nutritional risk.

Mar 23 11:49

The Media Flip Flops On The Economy,Retail Apocalypse Is Here,Crisis Around The Corner

Retail nightmare continues, Sears, JC Penny and Payless going under. Corporate media admits that retail is in trouble, they are calling it, retail apocalypse, this is the start of admitting the economy is in crisis mode.

Mar 23 10:45

#NoDAPL: ING Bank Sells Loan Shares In Controversial Pipeline

Financial giant ING has sold its stake in its financing of the Dakota Access Pipeline as a result of a divestment campaign to stop the $3.8 billion pipeline from going ahead, marking a victory for the Standing Rock Sioux tribe and its supporters.

Mar 23 10:09

THE WORST RETAIL CATACLYSM EVER: SEARS WARNS IT IS ON THE VERGE OF COLLAPSE AS PAYLESS PREPARES TO FILE FOR BANKRUPTCY

More than 3,500 retail stores are going to close all across America over the next few months as the worst retail downturn in U.S. history gets even deeper. Earlier this week, Sears shocked the world when it announced that there is “substantial doubt” that the company will be able to “continue as a going concern” much longer. In other words, Sears has announced that it is on the verge of imminent collapse. Meanwhile, Payless stunned the retail industry when it came out that they are preparing to file for bankruptcy. The “retail apocalypse” that I have been warning about is greatly accelerating, and many believe that this is one of the early warning signs that the economic collapse that is already going on in other parts of the globe will soon reach U.S. shores.

Webmaster's Commentary: 

Sears is the proverbial "canary in the coal mine."

When it is about to go under, we will probably see a tsunami of other retail establishments falling in its wake.

And online buying is not the villain here; people just don't have the expendable income with which to shop, and they are keeping a very close eye on credit card usage, now that the Fed has upped their rates.

Mar 23 09:48

Confidence in Real Estate Crashes in Australia

The rush of foreign capital that has caused real estate in major cities to soar coming out of China has hit Australia, Canada, and the USA.

Mar 23 09:06

Ally Financial Slashes Guidance As Used Car Prices Suffer “Worst Decline In 20 Years”

I think this may be the first canary in the coal mine.

Mar 23 08:52

BREXIT BOOST: Michel Barnier drops bombshell as he vows EU will sign trade deal with UK

BREXIT negotiator Michel Barnier today dropped a bombshell as he said the EU was determined to seal a "unique" trade deal with an independent Britain as soon as possible.

Mar 23 08:49

Nine years later, Greece is still in a debt crisis…

Sometimes you have to marvel at the absurdity of the financial universe in which we live.

Mar 23 08:36

America's retail apocalypse: How 3,500 stores are set to close across the country in just the next two months 

Thousands of US retail stores are set to close across the country in the next two months.

More than 3,500 shops are expected to shut down due to the rise in online shopping, in what is becoming one of the biggest retail closures in decades.

Chains like Abercrombie & Fitch, American Apparel and Guess are shutting down branches, as well as major department stores like Macy's, JCPenney, Sears, and Kmart.

Mar 23 08:21

Currencies from a Central European’s Perspective (1917-2017)

Who is a Central European? It’s someone who’s got a German name, Hungarian heritage, was born in Czechoslovakia (dissolved in 1993), lives in Bratislava (Slovakia), but loves to spend time in Vienna (Austria). It’s a person who appreciates the constant flux of political and economic events happening in this part of the world.

Mar 23 08:09

A Very Nice, Evil Man — Gary North on David Rockefeller.

So, I will not miss David Rockefeller. I suppose I should speak well of the dead, but I'm going to make an exception in this case. I don't want to lie. I am also not going to stay silent. He wasted his time. He wasted his money. He wasted his life. He was my favorite modern example of Mark 8:36. "For what shall it profit a man, if he shall gain the whole world, and lose his own soul?"

Mar 23 07:54

Crude Oil: Ready to Slide Revisit

The market sentiment we described in January anticipated the recent 10 percent move in crude oil -- as did the Elliott Wave pattern.

Mar 23 06:35

The Worst Retail Cataclysm Ever: Sears Warns It Is On The Verge Of Collapse As Payless Prepares To File For Bankruptcy

More than 3,500 retail stores are going to close all across America over the next few months as the worst retail downturn in U.S. history gets even deeper. Earlier this week, Sears shocked the world when it announced that there is “substantial doubt” that the company will be able to “continue as a going concern” much longer.

Mar 23 01:10

Is this the Sound of the Bottom Falling Out of the Auto Industry?

Not quite, not yet, but it’s not good either.

Mar 22 20:26

This New Bubble Is Even Bigger Than The Subprime Fiasco

The total value of student loans in America today is LARGER than the total value of subprime loans at the peak of the financial bubble. And just like the subprime mortgages, many student loans are in default.

Mar 22 20:22

Petrol consumption hits record LOW as rising prices push households to 'breaking point'

Official figures show motorists’ milage in January fell to its lowest on record and 12.7 per cent below the same period five years ago.

HM Revenue and Customs figures show that, in January UK drivers got through 1.351 billion litres of petrol or one per cent down on the previous January.

Over the whole of last year petrol consumption was down 12.5 per cent compared to five years previously.

The dip in demand follows petrol pump prices rising above 120p a litre for the first time since December 2014.

Mar 22 20:15

State Pension age proposal: Millions could now have to wait until they are 68 to claim

MILLIONS of middle-aged workers will have to wait an extra year for their State Pension under new proposals being considered by ministers.

The state pension age could increase to 68 by 2039 – seven years earlier than planned, according to former CBI director general John Cridland, the Government’s independent reviewer of state pension age.

And the triple lock guarantee which sees the State Pension rise by at least 2.5 per cent should be scrapped during the next Parliament.

If the recommendations are taken up, people now in their 40s face their state pension age being pushed back a year meaning more than five million people – around 750,000 people a year for seven years – would be forced to wait longer for the state pension.

Mar 22 16:27

US Dollar; Could be in trouble at this level!

The US Dollar has been a stellar performer the past few years, as it has been stronger than most currencies around the world.

Mar 22 16:00

The Market Chaos Has Begun & Will Continue As We Push Towards the Economic Crisis

The market begins the chaos cycle that will stretch into the spring and summer. San Fran Fed says job market is not as strong as reported.

Mar 22 14:30

$20 Trillion Debt Deserves As Much Attention As Dow Hitting 20,000

The media and Wall Street got all excited when the Dow Jones industrial average hit 20,000 earlier this year — and justifiably so.

But why not give the same sort of attention to the US federal debt, which will slip past $20 trillion later this year or in early 2018.

The symmetry of these two numbers is just too precious to ignore.

Mar 22 14:30

The Global Elite Secret Plans For The Next Financial Crisis – You Must Plan For The Next Financial Crisis BEFORE It Happens

I stated in this article that an “imminent disaster.US stock markets”, and that “people seem to have forgotten one central and critical point. Most people seem to believe that they have to lose a great deal of money when crises materialize and forget that it is absolutely possible to prosper during crises as well.

Mar 22 14:19

PEMEX: Mexico’s State Oil Company On The Verge Of Bankruptcy & Collapse

Mexico’s state oil company, Pemex, is a perfect example of the ongoing collapse in the global oil industry. Falling oil prices and declining production are putting severe pressure on the company’s financial balance sheet. It has been four long years since Pemex posted a small profit. However, since 2012, Pemex has suffered huge annual losses while its long term debt has exploded.

Mar 22 13:52

Living the DREAM : Americans Are Dying With an Average of $62K of Debt

You’re probably going to die with some debt to your name. Most people do. In fact, 73% of consumers had outstanding debt when they were reported as dead, according to December 2016 data provided to Credit.com by credit bureau Experian. Those consumers carried an average total balance of $61,554, including mortgage debt. Without home loans, the average balance was $12,875.

Mar 22 12:53

Once The Eurozone Collapses, Will The EU Return to a “Normal Trading Union”

Peter Navarro, the head of President Trump’s National Trade Council, said in a recent interview in the Financial Times that the euro is “like an implicit Deutsche Mark” that gives Germany an advantage when it comes to exports over other members. Whilst he fails to understand that Germany has always had an export led economy, there is a lot of truth in what he says when it comes to other European economies trapped inside a frigid and inflexible currency system.

Due to flat economic performance that has required trillions in CPR in a vain attempt to resurrect the Euro’s dying moments the political elite continued with an ideologically driven austerity programme and did little about mass unemployment during a time of huge immigration. Many commentator’s in recent years have said this is the eurozone’s ‘lost decade’ but, in reality, they have now turned even more fatalistic and come to the conclusion that it is really the Eurozone’s last decade.

Mar 22 12:50

State Refuses To Pay Lottery Winners Their $288M Winnings By Giving Them A Horrible Reason

When you win the lottery, the last thing you expect is NOT to get the money. But the state of Illinois has refused to pay lottery winners an estimated $288 million. Why? According to Illinois, they have not balanced the budget in that state. SO, what that means is that anyone who has won more than $600 in a lottery will not get their winnings. Period.

But, the state still wants people to buy lottery tickets! The video below is a segment from Inside Edition that tells this story. You will hear from the lottery winners themselves. Some people left comments saying they are moving out of Illinois now or “WE WANT OUR MONEY.”

Mar 22 12:44

All Out Political, Economic, And Financial Warfare!

Like it or not, we are living through a major inflectionary point in human history; on more fronts; with more lasting, and dramatic changes than any before it. Yes, there have been hundreds of humanity-altering wars throughout history.

Mar 22 12:36

Sears has "substantial doubt" about its future

Sears, once the monolith of American retail, says that there is "substantial doubt" that it will be able to keep its doors open.

Mar 22 12:12

Jim Rickards: Donald Trump owns the Fed, the dollar & gold

Donald Trump has the opportunity to appoint a higher percentage of the Board of Governors of the Federal Reserve system at one time than any President since Woodrow Wilson.

Mar 22 11:37

Israeli Ban Targeting Boycott Supporters Raises Alarm Abroad

A law barring foreigners from entering Israel if they back boycotts against the country is causing alarm among liberal American Jews and others who perceive an attempt to suppress critical political opinion.

Prime Minister Benjamin Netanyahu’s right-wing government has long campaigned against the Palestinian-led Boycott, Divestment and Sanctions (BDS) movement, describing it as anti-Semitic and an attempt to erase Israel’s legitimacy.

The movement, launched in 2005 as a non-violent campaign to press Israel to heed international law and end its occupation of territory Palestinians seek for a state, has gathered momentum in recent years even if its economic impact remains negligible.

On March 6, Israel’s parliament passed legislation saying any individuals or representatives of groups supporting BDS-type boycotts - excluding Israeli citizens and permanent residents - would be barred from the country.

Webmaster's Commentary: 

Israeli Prime Minister Netanyahu, a word, please; the government of Israel has already lost its legitimacy through the very apartheid treatment of Palestinians; through indefinite detention of Palestinian prisoners who may well have committed no crime, and the torturing of Palestinian children in order to obtain "confessions" leading to more arrests of Palestinians.

And you cannot, logically, claim that this movement is anti-Semitic, as it is not at all against the Jewish religion, but against practices of the Israeli government; any rational person can see that.

But then again, unfortunately, rationality and the Israeli government have not had an ongoing relationship for some time.

And since the language of morality is not one in which Tel Aviv appears to be fluent, the language of economics, as in the potential damage BDS has to ultimately, and peacefully, damage the Israeli economy, appears to be the only language the government in Tel Aviv understands.

So, sir, that is the language which will continue to be used against the Israeli government's practice of apartheid, until that practice is discontinued.

Mar 22 11:24

Traders Aggressively Trimming Their Hedges

Volume in stock ETF’s designed to rise when the market falls has dried up significantly in recent days; is it a warning, or just noise.

Mar 22 11:14

The Bankers Of Death

During the 1930s, the Rockefellers pushed hard for war against Japan, which they saw as competing with them vigorously for oil and rubber resources in Southeast Asia and as endangering the Rockefellers’ cherished dreams of a mass “China market” for petroleum products.

Mar 22 11:08

JC Penney in death spiral from gay-pandering: 138 stores to close by end of April

In 2012, J. C. Penney’s CEO Ronald B. Johnson had the brilliant idea to improve the century-old family store by pandering to homosexuals — a move that, in a time of the decline of brick-and-mortar stores, isn’t smart on the grounds of simple market calculation because homosexuals make up only 2-3% of the U.S.

Mar 22 10:54

DONALD TRUMP IS FILLING TOP PENTAGON AND HOMELAND SECURITY POSITIONS WITH DEFENSE CONTRACTORS

President Donald Trump has weaponized the revolving door by appointing defense contractors and their lobbyists to key government positions as he seeks to rapidly expand the military budget and homeland security programs.

Two Department of Homeland Security appointments Trump announced Tuesday morning are perfect examples.

Webmaster's Commentary: 

I am profoundly disappointed by these developments; we need people in these positions who insure, through an audit process, that all the money spent by the US government intelligently, and that the "bang" for its weapons development dollars is a profoundly positive one.

Throwing more money at a failed system will not fix the problems of a failed system, the corporate governance of which believes it is perfectly acceptable to deliver flawed, so late in delivery as to be obsolete, and vastly over-budget products.

Mar 22 10:52

Joe Messina – Coming California Collapse

Mar 22 10:20

Democrat Leader On Sound Money: “In 1868 Gold Was $27 An Ounce…Today It Is $1,218…So You Can’t Say Gold Will Protect Us From Inflation”

Proving once again that our elected representatives appear to have absolutely no clue, we turn to Democrat Idaho House Minority Leader Mat Erpelding.

Mar 22 10:00

JEFTA: THE LATEST MASSIVE 'TRADE' DEAL YOU'VE NEVER HEARD OF, NEGOTIATED BEHIND CLOSED DOORS, WITH ZERO PUBLIC SCRUTINY

As Techdirt has reported, the election of Donald Trump has turned the world of US trade deals upside-down. The US officially pulled out of TPP, although some still hope it might come back in some form. TAFTA/TTIP seems to be on ice, but Trump's choice for US trade representative has just said he is open to resuming negotiations, so it's not clear what might happen there (or with TISA). Against that confusing backdrop, the European Union has been quick to emphasize that it is in favor of trade deals, and is keen to sign as many as possible, presumably hoping to fill the economic and political vacuum left by the US.

Mar 22 08:42

Trump and EU in Standoff Over TTIP Win-Win, Win-Lose 'Game'

EU trade commissioner Cecilia Malmstrom has said the Transatlantic Trade and Investment Partnership (TTIP) trade deal between the EU and the US has hit the blocks because US President Donald Trump - who is against the deal - is one of those who treats such deals on an "I win, you lose" basis.

Malmstrom was speaking in Toronto, Canada, where she is promoting the recently signed — but not yet ratified — EU-Canada trade deal, known as the Comprehensive Economic and Trade Agreement (CETA).

Mar 22 08:24

Russia Has Unfair Military Advantage Because It’s Not Bombing Seven Countries, Notes US Smartypants

The Pentagon is forced to spend large sums to bomb defenseless brown people in faraway lands. Meanwhile, Russia and China modernize their armies. That's not fair

Mar 22 08:16

Google's stock rating downgraded as YouTube ad boycott contagion goes global

Google has responded to a contagious YouTube advertising boycott which yesterday prompted a downgrade on Wall Street.

Pivotal Research Group downgraded Alphabet shares from "Buy" to "Hold" based on its response to the boycott, which now includes more than 200 big brands, as well as public sector ad spending. Marks & Spencer and Hargreaves Lansdown became the latest to hit pause yesterday.

The boycott follows a series of reports in The Times demonstrating that Google was running advertisements promoting big brands against jihadi and racist videos on YouTube, the world's second most popular website after Google's search page.

Mar 22 07:17

Stock market extends losses after biggest drop in months

Dow eyes fifth straight day of losses

U.S. stocks are trading lower as investors remained cautious following the prior session’s first sharp slump in months, which some analysts attribute to worries that momentum for President Donald Trump’s pro-growth policies is fading.

The S&P 500 index SPX, -0.28% was off 4 points, or 0.2%, at 2,340, with nine of the 11 main sectors trading lower. Financials and telecoms led the decliners, while utilities and technology stocks were the bright spot.
The Dow Jones Industrial Average DJIA, -0.39% was off by 54 points, or 0.3%, to 20,610, on track for its fifth consecutive decline.
The Nasdaq Composite Index COMP, -0.08% was up 5 points, or less than 0.1%, at 5,798.

Tuesday’s selloff came as issues with the Republicans’ health-care bill prompted investors to question Trump’s ability to follow through on promises of tax reforms and $1 trillion in infrastructure spending, according to Connor Campbell, financial analyst at Spreadex. A vote on the bill has been set for Thursday.

>>>

Mar 22 07:10

Dow, Nasdaq log worst day since September as financial stocks crumble

U.S. stocks sank Tuesday as the Dow and the Nasdaq logged their worst daily drops since September, while the S&P 500 also tumbled the most in a single session in five months.

The Dow Jones Industrial Average DJIA, -0.29% fell 237.85 points, or 1.1%, to close at 20,668.01, the biggest percentage decline since blue chips fell by 1.4% on Sept. 13. The S&P 500 SPX, -0.16% posted its steepest fall since Oct. 11, shedding 29.45 points, or 1.2%, to end at 2,344.02, and the Nasdaq COMP, +0.06% had its worst day since Sept. 9, falling 107.70 points, or 1.8%, to finish at 5,793.83.

also:A history-setting trading streak for Dow, S&P 500 just came to a screeching halt
http://www.marketwatch.com/story/sp-500-dow-on-verge-of-snapping-109-d...

Mar 22 04:49

Have We Reached A Turning Point For Stocks? Tuesday Was The Worst Day For The Stock Market In 6 Months

The post-election stock market rally is officially over. After hovering near record highs for the past couple of weeks, U.S. stocks had their worst day in six months on Tuesday. For quite some time it has been clear that the momentum of the post-election rally had been exhausted, and a pullback of this nature was widely anticipated.

Mar 22 04:49

Bulls Are Going To Take A Header As New IPOs Are Flooding The Market With Supply And Overwhelming The Demand

The upcoming onslaught of IPOs is going to cause the much anticipated short term pause in the markets, according to Jim Cramer, host of the Mad Money. "I keep thinking back to March of 2014, the last time deals started coming at a fever pitch.

Mar 21 15:37

These Five Charts Explain The Current State Of Stock Market

Both S&P 500 and DJIA are having a longest streak in over 20 years. Both the indices haven’t seen a 1% decline since October 2016. Also, in February, the DJIA recorded its longest “winning streak” since 1987. It closed 2,000 points above its 200-day moving average for the first time ever.

Mar 21 15:21

Light rail train at OIA not dead, mayors say

A deal to bring a light rail train from Orlando International Airport to the Orange County Convention Center may not be dead just yet.

Global Via told Eyewitness News earlier this week that it had suspended its talks with airport officials to bring in the privately funded train.

Mar 21 14:21

Mind-blowing math animation explains why stock market wealth is an ILLUSION that vanishes in a crash

Almost no one really understands the basics of how the stock market works, and they suffer under the illusion that EVERY stock share is worth the same price as the last share that was traded. (If you’re confused why this isn’t the case, you’ve been lied to… watch the animation below to learn the truth that Wall Street doesn’t want you to ever realize.)

Thus, in a rising stock market bubble, people who hold shares that were purchased at far lower prices suffer under the illusion that all those shares are “worth” the current high price.

As my animation video reveals below, that idea is nothing but illusion. In truth, share prices are only transmuted into real wealth when they are SOLD. Yet it is impossible for all the holders of the shares to all sell at the current price for the simple reason that selling shares causes their price to fall.

Mar 21 13:06

Factors That Indicate The Growing Likelihood Of Bursting Of The Housing Bubble In 2017

The next housing collapse is on the horizon. Eventually, home prices must return to normal levels. As can be seen in the chart below home prices are above the pre-crisis levels.

Mar 21 12:50

Poverty In Germany Reaches New Record High

The welfare organisation Paritätische Wohlfahrtsverband presented its latest report on poverty in Germany at the beginning of March. According to this study, poverty in Germany reached a new record high in 2015, at 15.7 percent, with 12.9 million people live in poverty.

Mar 21 12:24

Bank of NY Mellon must face $1 billion Commerzbank lawsuit

lawsuit seeking to hold it liable for toxic mortgage-backed securities

Mar 21 11:53

Crisis-hit Venezuela halts publication of another major indicator

has stopped publishing money supply data, depriving the public of the best available tool to ascertain soaring inflation

Mar 21 11:53

The Story of Your Enslavement

Mar 21 11:48

The Collapse of The American Dream Explained in Animation

Mar 21 11:18

The Economy Just Took One Step Closer To Collapsing

Brexit could be invoked on March 29. Retail is collapsing quickly has foot traffic declines rapidly. Bank loan creation has accelerated to the downside. Deutsche banks revenue declines rapidly.

Mar 21 10:35

The Pentagon: Americans Support Increasing Budget of Most Wasteful Federal Department

A Politico and Morning Consult poll, a scientific sampling of 1,992 registered American voters, which was first published on March 8th, asked «Here is a list of federal departments and agencies. For each of the following, please indicate if you think the department or agency should have its annual budget increased, decreased, or kept about the same». Here is what it found:

Webmaster's Commentary: 

I do not believe in giving the DOD more money, when they cannot account for the money they have already been given, and they should have to process their spending through a strict audit structure which would make them accountable.

And secondly, the culture of our weapons manufacturers has to change.

That the CEOS of such companies believe it is perfectly acceptable to deliver products that are obsolete, compared to what Russian and Chinese weapons manufacturers are delivering to their countries; and that it is acceptable to deliver products with huge failure rates, which may never work as advertised (like the F-35); and that huge cost over-runs, coupled with horrifically late deliveries are standard operating procedures, can no longer be tolerated.

And instead of fines, when the above-mentioned happens, there needs to be hard jail time for those executives who signed off on those practices; this is the only way this corporate culture will be "inspired" to change, because everything else the US government has tried here, to accomplish this, has been an epic failure.

Mar 21 09:56

Switzerland Follows Iceland In Declaring War Against The Banksters

Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing: prosecuting criminal bankers for engineering financial collapse for profit.

Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite. In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry.

Inspired by Iceland’s progress, activists in Switzerland are now making an important stand against the banking cartels and have successfully petitioned to bring an initiative to public referendum that would attack the private banks where it matters most: their power to lend money they don’t actually have, and to create money out of thin air.

Mar 21 09:50

Trump Market Euphoria Impacts Precious Metals Demand: Plummets In West, Surges In East

With the Trump euphoria pushing the broader markets to new all-time highs, it has impacted precious metals demand considerably… especially in February. Precious metals investors believing the White House “Grandiose plans”, of making American great again, have cut back seriously on their precious metals buying.

Mar 21 09:32

EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB

EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.

Analysts condemned the "flawed economics of this reckless [EU] experiment" and said the ECB faces a rude awakening as states crumble under the burden of debt.

Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.

The ECB uses a system called Target2 to assess levels of debt and the bank's data appears to show it is only a matter of time before the current system breaks.

Webmaster's Commentary: 

I do not know how long that "matter of time" before the system breaks down completely; but I would imagine that this will come sooner rather than later.

Mar 21 09:07

World stocks seen as most overvalued in 17 years: BAML survey

Bank of America Merrill Lynch's (BAML) poll of investors managing $592 billion worldwide

Mar 21 09:07

No Other Choice: Greek Employees Agree to Get Paid With Coupons

In Greece, which currently has over one million unemployed citizens, firms have started paying workers in kind, mainly with supermarket coupons.

Mar 21 08:48

British banks handled vast sums of laundered Russian money

Britain’s high street banks processed nearly $740m from a vast money-laundering operation run by Russian criminals with links to the Russian government and the KGB, the Guardian can reveal.

HSBC, the Royal Bank of Scotland, Lloyds, Barclays and Coutts are among 17 banks based in the UK, or with branches here, that are facing questions over what they knew about the international scheme and why they did not turn away suspicious money transfers.

The Global Laundromat: how did it work and who benefited?
Read more
Documents seen by the Guardian show that at least $20bn appears to have been moved out of Russia during a four-year period between 2010 and 2014. The true figure could be $80bn, detectives believe.

One senior figure involved in the inquiry said the money from Russia was “obviously either stolen or with criminal origin”.

Webmaster's Commentary: 

Imagine my (complete absence of) shock, in light of the fact that HSBC laundered drug, and terrorist organisation's money as well!!

HSBC escaped US money-laundering charges after Osborne's intervention

It's what HBSC does, and does with impunity, because it is adjudged by the British government as TBTF (too big to fail)!!

And fines won't stop this behaviour on the part of banks. The only thing that will begin to stop it is prosecuting those who sign off on these practices, and having them sentenced to hard jail time.

Unfortunately, however, that will only happen when pigs gain the ability to fly; the elite rarely eat their own.

Mar 21 08:46

Dear America: Better Read the Fine Print on Your Credit Card Statement

What will replace the current system after it self-destructs? That's the question.

You know those disclosures on your credit card statements? That it will take 27 years to pay off your balance if you only make the minimum payment each month, and so on?

Mar 21 08:39

THE UPCOMING TRADE WAR BETWEEN THE U.S. AND CHINA WILL BE THE BIGGEST IN THE HISTORY OF THE PLANET

The United States and China are the two largest economies in the world by far, and the upcoming trade war that is about to erupt will be cataclysmic for both sides. The Trump administration and the Chinese government are both gearing up for a prolonged trade war, and this is going to have very severe implications for the entire global economy. During the campaign, Donald Trump repeatedly stated that we “can’t continue to allow China to rape our country”, and he was quite correct about that. Over the past ten years, the U.S. has run a trade deficit of over $2 trillion with China, and as a result of imbalanced trade we have lost tens of thousands of manufacturing businesses, millions of good paying jobs, and hundreds of billions of dollars of tax revenue.
So clearly something needs to be done to balance our trade with China and other countries. But the situation must also be handled delicately, because trade disruptions could bring substantial short-term economic pain.

Webmaster's Commentary: 

Trade wars make me nervous, because many times, they are simply preludes to actual shooting wars.

Mar 21 08:27

GREEK POLICE INTERCEPT 8 PARCEL BOMBS HEADED TO EU INSTITUTIONS & COMPANIES

Greek police have reported that they found and neutralized eight suspected parcel bombs at a postal sorting center in Athens on Monday. Last week, two such bombs targeted the German finance ministry and the IMF.

“Eight suspected packages which listed persons in European countries as recipients were located and confiscated today,” police said in a text message to the media.

Webmaster's Commentary: 

I am very relieved that these weapons were intercepted; unfortunately, however, with Greece in the throes of the agonising austerity into which the IMF has put it, I am very concerned that these bombs may not be the end of this problem.

As I have said many times before on this blog, as a Christian pacifist activist and witness, I abhor, and never advocate, violence; but I can understand how it can happens, when people get pushed against a wall.

And it appears that Greece's financial problems are about to get a whole lot worse this year:

IMF Warns Eurogroup Loan Measures Not Enough for Greek Debt

Mar 21 08:15

Saudi Arabia’s Oil Supremacy Falters

Saudi Arabia is losing its grip on big oil markets it once dominated amid a deep production cut that has reshaped global petroleum trade routes and benefited rivals like Iran, Russia and the U.S.

Mar 21 07:28

Independent Treasury Act of 1920

The Secretary of the Treasury is hereby authorized, in his discretion, to transfer any or all of the duties and functions performed or authorized to be performed by the assistant treasurers above enumerated, or their offices, to the Treasurer of the United States or the mints or assay offices of the United States, under such rules and regulations as he may prescribe, or to utilize any of the Federal reserve banks acting as depositaries or fiscal agents of the United States, for the purpose of performing any or all of such duties and functions, notwithstanding the limitations of section 15 of the Federal reserve Act, as amended, or any other provisions of law: Provided, That if any moneys or bullion, constituting part of the trust funds or other special funds heretofore required by law to be kept in Treasury offices, shall be deposited with any Federal reserve bank, then such moneys or bullion shall by such bank be kept separate and distinct from the assets, funds, and securities of the

Webmaster's Commentary: 

This is the law that turned over the US Treasury to a private for-profit corporation; the Federal Reserve!

Mar 21 02:28

The Upcoming Trade War Between The U.S. And China Will Be The Biggest In The History Of The Planet

The United States and China are the two largest economies in the world by far, and the upcoming trade war that is about to erupt will be cataclysmic for both sides.

Mar 20 16:02

Did the Fed hint at monster inflation?

We won’t bore you with yet another article about the recent rate hike by the Federal Reserve. This move was widely expected, as the Fed members had been hinting this would happen for several months now.

Mar 20 13:54

"Retailers Are Running Out Of Time": Channel Checks Show 13% Collapse In Traffic

While the market is treading water, with the S&P modestly in the red, offset by some strength in the DJIA, retail stocks are broadly lower, with 83 of 91 components of the S&P 1500 Retail Index trading in the red, led by Tuesday Morning, Caleres, Express, Shoe Carnival, Francescas as BBG notes.

Mar 20 12:08

King Dollar: Three Bearish patterns in a row

Mar 20 11:58

DOLLAR COLLAPSE OR GOLD STANDARD?

Mar 20 11:40

Welcome to the Third World, State Schools Scale Way Back

Readers of a certain age will remember when state universities were a bit spartan but extremely cheap. Middle class families could send their kids to Ohio State or UCLA without taking out a second mortgage, and the kids could focus on classes and fun instead of juggling multiple part-time jobs to cover room and board.

Mar 20 11:26

EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB

Analysts condemned the "flawed economics of this reckless [EU] experiment" and said the ECB faces a rude awakening as states crumble under the burden of debt.

Mar 20 11:09

Female Privilege

This New York Times article about "The Decline of Men" is well worth reading.

Key takeaways from the article are:

While men still dominate top positions, there is growing polarisation among men. A small minority of men are doing very well, while a large number of men are not.

Mar 20 11:05

Businesses Think They Can Dictate to National Government on Immigration Measures

In yet another sign of impending Statism/Corporatism, businesses are appealing to national governments to relax immigration rules in an effort to increase their profits.

Mar 20 10:24

EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB

EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.

Analysts condemned the "flawed economics of this reckless [EU] experiment" and said the ECB faces a rude awakening as states crumble under the burden of debt.

Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.

The ECB uses a system called Target2 to assess levels of debt and the bank's data appears to show it is only a matter of time before the current system breaks.

At the time several eurozone member states including Greece, Portugal, Ireland, Spain and Cyprus were unable to repay or refinance their government debt.

They were bailed out through assistance of third parties including Eurozone countries, the ECB, and the International Monetary Fund.

Webmaster's Commentary: 

This is going to get very economically ugly, and very quickly.

The UK had the absolute right idea with its "Brexit" of the EU, and may well have gotten out barely just in time. But as the following article indicates, Europeans may well have to pony up for EU countries' expenses they did not, themselves, sign off on, or create:

EU TAXPAYERS BRACE AS DEEPENING BANKING CRISIS MEANS EURO-TARP LOOMS

Mar 20 10:21

Used Car Prices Crash Most Since 2008

Mar 20 10:18

Farm Credit Implodes, Korean Food Prices Up

Korean government has lost control of food prices in the country as massive bird flu culls of birds raising the prices of chicken and eggs by minimum of 30%, seafood 25% and vegetables up to 75%. The farm credit crunch will result in less acreage planted in 2017 and now department store sales are at record low, is this an indication people are spending more of food in the US and buying less non-essential items?

Mar 20 10:09

EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB

EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.

Analysts condemned the "flawed economics of this reckless [EU] experiment" and said the ECB faces a rude awakening as states crumble under the burden of debt.

Mar 20 09:19

Trump Administration Rolls Back Obama Protections On Student Loans

Just days after reports emerged that student loan defaults are soaring, which is undoubtedly due to some combination of, among other things, poor job prospects for the millions of snowflakes who graduate each year with their $200,000 educations in anthropology and the moral hazard created by liberal politicians constantly calling for student debts to be 'forgiven' (a.k.a. forcefully jammed down the throats of taxpayers), the Trump administration has revoked rules put in place by Obama that barred student debt collectors from charging penalty fees on past-due loans.

Mar 20 09:17

Hedge Fund CIO: "The Odds Of Trump Succeeding Are Zero In The Absence Of A New War"

Peel back the patina and you’ll discover that today’s monetary policy, tax policy, foreign policy, trade policy, and regulations of every stripe are levers the elite pull to entrench their interests. Secular stagnation is what we came to call the symptom without identifying this cause. Then came a synchronized global cyclical recovery, which we may now confuse as a Trump inspired break from this stranglehold.

“If I thought our new president could increase budget deficits by another 2% per year, my thesis would crumble. I’d be wrong. But the odds of this are zero in the absence of starting a new war.” He paused, considering the rebound in interest rates, the record equity highs.

Mar 20 08:58

President Trump Set to Sign Bill Allowing States to Drug Test Welfare Recipients

While liberals continue to deny its existence, most Americans are keenly aware that welfare fraud is a real problem that needs to be destroyed.

For years, Republicans in Congress have tried to crack down on welfare abuse, hoping to give states the power to ensure that those receiving welfare benefits are truly deserving of such assistance. Democrats, of course, have fought any and all attempts at accountability.

But now, Congress has just taken a major step in their welfare reform agenda, voting to allow states to drug test individuals seeking unemployment benefits. President Trump is expected to sign the legislation in the coming days.

Mar 20 08:41

'Sell to them or you will lose your job': Call centre employees for big banks reveal upsell pressures

No matter the reason a customer calls a bank's hotline — online banking trouble, stolen credit card, bill discrepancy — call centre employees say their job could be on the line if they can't sell the caller a new product or service.

In emails to Go Public, past and present call centre employees for TD, RBC, BMO and CIBC (none from Scotiabank) said they're expected to use the same high-pressure sales tactics as those their branch colleagues recently revealed to CBC News — and face the same threat of being fired if they fail to consistently upsell customers.

Mar 20 08:40

RadioShack is closing 552 stores — see if your store is one of them

RadioShack, which filed for bankruptcy for the second time last week, is closing 552 of its stores.

The closures will affect 36% of the chain's stores.

Mar 20 08:23

Are the recent interest rate increases really to harm the US economy and Pres. Trump's goals to MAGA?

The Fed raising the rate it pays to the big banks for storing all the excess 'reserves' the Fed has printed up and handed out completely makes a mockery of the idea of a 'rate hike.'

Mar 20 08:16

H-1B Visas Are The Heart Of The Abramoff Scandal

These leaders associated directly or indirectly with lobbyist Jack Abramoff will not be a part of the 110th Congress: Rep. Tom DeLay (R-TX), Rep. Bob Ney (R-OH), Rep. Richard W. Pombo (R-CA), Rep. J.D. Hayworth (R-AZ), Rep. John E. Sweeney (R-NY), Sen. Conrad Burns (R-MT), and Sen. Mike DeWine (R-OH).

For details, use "Abramoff" as a search term in the CQPolitics website. Unfortunately, some leaders apparently did not learn this lesson.

First, as a bit of background, here is how ILW.COM readers may confirm that Microsoft lobbyist Jack Abramoff lobbied for expansion of the harmful H-1B visa program in 1998.

In 1998, Microsoft lobbyist Jack Abramoff lobbied former U.S. Representative - and Majority Whip Tom DeLay's office for expansion of this controversial visa program as shown in disclosures posted at the U.S. Senate Office of Public Records. Here is the process to see them...

Mar 20 07:20

The Global Famine Begins: UN Announces That The Worst Food Crisis Since World War II Is Happening Right Now

We always knew that this would start happening. Earlier this month, I wrote about the severe economic problems that are plaguing South America, but up to this point I have neglected to discuss the horrific famines that are breaking out all over Africa.

Mar 20 07:10

America First? 200,000 Troops Deployed To 177 Nations

Internationally, there are just under 200,000 troops that are stationed in 177 countries throughout the world.

In 2015, Politico estimated that there are 800 U.S. bases abroad, and that it costs up to $100 billion annually to maintain this international presence.

Mar 20 07:06

Russian ATMs Spit Out Cash After Malware Attack

Russian daily Kommersant reports that the Bank of Russia detected malware that hides inside ATM’s operating memory which "forces" them to dispense cash to anyone who enters certain code on its keyboard.

Mar 20 07:03

Deutsche Bank Plunges Into Red For 2017 After Dilution, Revenue Warning

After raising capital at a 35% discount over the weekend, Deutsche Bank shares are tumbling once again - back into the red for 2017 - after CEO John Cryan warned that revenue would be "broadly flat" in 2017.

Mar 20 04:48

Stocks Soared on Trump’s $1-Trillion Infrastructure Boom. But that Just Evaporated. Now What?

Wall Street will have to go look for another mirage to hype.

Mar 19 19:27

Oil And Gas States Forced To Cut Education Spending

The oil price slump has put pressure on the budgets of the U.S. oil and coal states that have been struggling with lower energy tax revenues and difficult decisions about which public-sector financing they should reduce. Higher budget deficits have led to cuts across the board, and education has been one of the sectors on the chopping block.

Mar 19 19:22

Politics and Economics, not Religion, Spawned Radical Islam

The phenomena of Islamic radicalism all over the world is directly linked to Wahhabi-Salafi madrassahs (religious seminaries) that are generously funded by Saudi and Persian Gulf’s petro-dollars. These madrassahs attract children from the most impoverished backgrounds in the Third World Islamic countries, because they offer the kind of incentives and facilities which even the government sponsored public schools cannot provide: such as, free boarding and lodging, no tuition fee at all and free of cost books and stationery; some generously funded madrassahs even pay monthly stipends to students.

Mar 19 13:59

Michael Pento: Great Recession Headed for Greater Depression, Stock Market Will Fall at Least 50%

Money Manager Michael Pento predicted the bond market would ultimately collapse in his 2013 book titled “The Coming Bond Market Collapse.” He says the collapse has started and will get worse quickly.

Mar 19 12:43

The Record Year The U.S. Imported Nearly A Half Billion Ounces Of Silver

How many precious metals investors know the year the United States imported a record amount of silver? This figure is so great, there is no other single year in U.S. history that comes anywhere close to this amount. Even more impressive than that, it turns out to be more than double the global annual mine supply that year. It is such an unbelievable amount, its record has never been surpassed to this day.

Mar 19 12:35

The revolution in work calls for an evolution in living

Graham Peebles explores some of the ideas that are being discussed for a radical alternative to the prevailing social and economic paradigm, ones where justice, equality and human dignity replace poverty, competition and waste.>>

Mar 19 08:50

THE ROTHSCHILD AND SAUD FAMILIES FUND BOTH JOHN MCCAIN AND HILLARY CLINTON

On 21 October 2016, I headlined “An Email From Lynn Forester de Rothschild to Hillary Clinton, Against Elizabeth Warren” and reported extensive back-door funding of Hillary Clinton by the Rothschild family.

On 15 December 2016, I headlined “U.S. Gov’t. Is Secretly Allied with America’s Enemies“ and noted that:

Webmaster's Commentary: 

Why would the Rothchilds be covertly funding candidates who seem, on the surface, so ideologically incompatible?!?

The answer is very simple; both Mc Cain and Clinton are warmongers of the highest order, and bankers love wars, because all sides have to borrow money at horrific interest rates, to keep those wars going.

Mar 19 08:33

ISDS System – Global Super Court For Corporations To Subvert Democracy

The Investor-state dispute settlement (ISDS) or investment court system (ICS) has a number of iterations. It is a system through which individual companies can sue countries for alleged discriminatory practices. One small example is where the tobacco company Philip Morris sued Uruguay after having enacted strict laws aimed at promoting public health. ISDS is found in international investment agreements, such as the Energy Charter Treaty, TTP, CETA, TTIP and the like.

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