ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 04 16:03

Italy To Exit EU, Euro Will Collapse After "No" Vote Wins In Italy Referendum

Multiple media outlets are calling the Italy Referendum as win for the "No" vote which means Italy will exit the EU and the Euro will collapse.

Dec 04 15:00

End of the EU: NO Vote Leads 63% In Italy Exit Poll

After media warnings a “No” vote will collapse the EU and the Euro, early Italy exit polls show the no vote winning 63% to 37%.

Last week the corporate media ran numerous reports stating a”No” vote in Italy’s referendum vote today will unleash financial doomsday and lead to the collapse of the Euro and the EU itself.

Dec 04 12:42

The American People Must Hold The Mainstream Media To Account

Why can’t RICO charges (or civil lawsuits) be brought against the 6 heads of the major Mainstream Media organized criminal enterprise?

Just think of what happened to President-Elect Donald Trump by these 6 major mainstream media organizations simply because the Central Bankers of the City of London and other foreign nations/individuals/entities did not like him, or want him to win the election.

Dec 04 12:05

Government Bond & Mortgage “Meltdown” Crushes NIRP And The Spike In Mortgage Rates Will Come In Handy.

The situation in government bonds – variously labeled with “bloodbath,” “rout,” “carnage” “meltdown,” or similar propitious terms – continued on Thursday.

Dec 04 11:31

While Riding The Stock Market Roller Coaster, Strap In And Enjoy, But Get Ready For The Inevitable Drop.

We are currently in the 8th year of economic expansion, which is well above the approximate 5-year average. With the stock market moving almost sideways over the past two years and economic metrics slowing down, it is evident that we are approaching the next economic downturn.

Dec 04 10:58

It’s Brexploitation! Microsoft punishes UK for Brexit with cloud price-gouging

“My own story would not have been possible but for the democratizing force of Microsoft technology reaching me where I was growing up,” CEO Satya Nadella told shareholders this week.

But the price of that “democratizing force” is about to go up, with Britains uniquely singled out. Microsoft has reiterated to Azure customers that prices will go up by 22 per cent from January 1st.

The problem? The price rise is far greater than any exchange rate post-Brexit fluctuations might justify.

Dec 04 09:57

U.S. Attorney General Tries To Defuse Tensions Over Dakota Access Pipeline

U.S. Attorney General Loretta Lynch on Friday announced attempts by federal officials to help mend fraying relationships in North Dakota between local law enforcement and Dakota Access Pipeline protesters.

With winter weather arriving across the Great Plains and after a spate of violent altercations, Lynch expressed hope that Department of Justice officials could mediate between hundreds of Native Americans that oppose the pipeline and the local officials who’ve asked them to end their demonstrations.

“Let me stress that violence is never the answer and that all of us have a responsibility to find common ground around a peaceful resolution where all voices are heard,” said Lynch in a videotaped statement. “Our first concern is the safety of everyone in the area – law enforcement officers, residents and protesters alike.”

Webmaster's Commentary: 

This is sound and fury, signifying nothing but attempted window-dressing on Lynch's "legacy" as Attorney General.

She can send as many "Federal Mediators" as she desires; it will not take away the stench of her not prosecuting Hillary Clinton for her crimes as Secretary of State, or the dubious existence, and functionings, of the Clinton Foundation.

At the end of the day, this is all about money to be gained, or lost, by the pipeline's owners and investors. So far, they will not budge, and have already destroyed sacred burial sites of the Standing Souix in the area, in preparation for the pipeline's construction.

The pipeline's very construction may well damage the water resources of the Souix people living in this area; and once that happens, there is no "fix" for soil and water remediation that is not horrifically expensive.

So Lynch knows, before these "mediators" go in that there is no real solution that will satisfy both sides. So what is the reason for her having made this announcement?!?

This is pure political theatre in her attempt attempt to resurrect her image after not having prosecuted Clinton for her crimes, period, end of discussion.

Dec 04 09:03

A Major Banking Collapse Looks Imminent, There’s A Strong Chance It Will Happen In The Coming Weeks.

The Italian banking system is a mile-high house of cards.

It’s looking wobblier every day.

The Italian economy is made up of many small and medium-sized businesses. Those businesses take out loans from Italian banks. But the country’s economy is in a deep and protracted depression. So, many of those loans have either gone bad or will go bad.

Dec 04 08:59

Italy votes in referendum with PM Renzi's future at stake

Italians were voting on Sunday in a referendum on constitutional reform that will decide the political future of Prime Minister Matteo Renzi, who has promised to resign if he loses.

Financial markets and Europe's politicians fear victory for the opposition 'No' camp could cause political instability and renewed turmoil for Italy's battered banks, pushing the euro zone towards a fresh crisis.

About 51 million Italians are eligible to vote on Renzi's plan to drastically reduce the role of the upper house Senate and claw back powers from regional authorities.

By noon, 20 percent of citizens had voted, the Interior Ministry said, more than the 17 percent who had cast ballots by the same time in May 2014 for the European Parliament election.

Dec 04 08:57

HIGH INFLATION IN TRUMPED UP ECONOMY | Greg Crowe

Why a Trump presidency is bullish for gold

Dec 04 08:21

A Major Economic Shock Is Upon Us And It Will Trigger A Systematic Economic Crisis

Unemployment drops to 4.6% from 4.9%. This is the last ditch effort to show that Obama economy is stable. More people have dropped out of the labor force and the labor participation rate increased.

Dec 04 07:07

Top Ten Videos — December 1

The truth behind gold manipulation. The 1%’s strategy for harvesting the rest of us. Sanders, Chomsky and Schiff on how we got here and where we’re going.

Dec 03 17:20

GOOD NEWS: The Great Unwind Unravels Hottest Rental Markets in the US

Now in San Francisco, New York, Boston, Chicago, Washington DC, and perhaps a city near you.

Dec 03 12:41

Jim Sinclair: We Have Killed Capitalism, Financial Pressure Cooker Bomb Cooking Now

Renowned gold expert Jim Sinclair says, “You have a pressure cooker bomb cooking like the terrorists use. It’s cooking, and it makes gold a storehouse of value and not a currency. It’s just a storehouse of value.

Dec 03 11:15

Vancouver Housing Market Freezes Up, Sales Crash, Prices Sag, For-Sale Signs Proliferate

“Entire Swaths of our neighborhood covered with For-Sale signs”

Dec 03 10:38

Cycles - A Fuse, An Explosive And The Igniting Catalyst

Investors need to focus on the two key long term structural changes now underway which are going to ignite destructive global dislocations through early 2020. To better understand why this is going to occur we need to place them in context by first examining the major economic cycles currently underway.

Dec 03 09:07

Is Sunday's Italian Referendum the Catalyst for a European Banking Crisis?

The populist movement that has been sweeping across the Western world could cement its place in Italy this Sunday.

Dec 03 08:07

The Shocking Truth About How Barack Obama Was Able To Prop Up The U.S. Economy

Barack Obama is one of the biggest “Keynesians” of all time, but unfortunately most Americans don’t even understand what that means.

Dec 03 08:05

Iceland's president asks Pirate Party to form govt after others fail

The Pirate Party in Iceland, who won seats in parliament earlier this year, have been asked to try to assemble a government coalition, after two other parties with more seats failed to do so.

The radical Pirate Party, headed by Birgitta Jonsdottir, was asked to form a government with other parties by the country's president, Gudni Johannesson, AP reported Friday, citing the president's office.

Dec 03 04:13

This ‘super bubble’ could burst on December 4th…

Italian government bonds are in a super bubble.

They are primed to collapse soon.

Dec 02 18:00

Trending on Twitter: MSM Flips - Trump Risks War With China Because He Called Called Taiwan

The corporate media totally ignores Obama sold $1.83b of weapons to Taiwan and flips out because Trump called Taiwan claiming it will cause a war.

More fake news from the corporate media. Just when you think they can’t possibly lose anymore credibility. You just cant make this stuff up.

The liberal media is flipping out because Trump just made a phone call to Taiwan throw accusations all over the place he at a minimum started a trade war if not an actual war.

Dec 02 16:19

Italian Bank warns 30 times for a ‘bail-in’ if the NO camp wins the referendum

Sunday December 4th, Italians will go to the polling stations to vote on a constitutional reform.

Dec 02 16:14

The Unemployment Rate is the Definition of "Fake News"

The U.S. Unemployment rate is the definition of “fake news”. 446k left the labor force last month bringing the total out to a record 95 million.

Dec 02 16:01

Global Warming / Climate Change - What's it all About?

So, is there, or isn't there, man-made Global Warming? What a Hegelian Mind-fck!

Dec 02 15:59

Why the S&P 500 has Only Risen 7% in the Past 2 Years

A 3.5% annual return is far below what we have come to expect from the US stock market. Dating back to 1928, the S&P has had an average annual return of over 11%.

Dec 02 15:54

13 Charts of Obama’s Recovery that Trump Must Deal With

13 Federal Reserve charts outlining the accomplishments of Obama’s economic recovery that Donald Trump will have to deal with.

Dec 02 14:51

The Fake News Claims Trump is Inheriting a Strong Economy

Politico, MSNBC, Wall Street Journal, Washington Post, Yahoo and many other fake news organizations are now claiming that Trump will inherit a strong economy.

Dec 02 13:55

Multiple Jobholders Hit New All Time High As Part-Time Jobs Soar

But perhaps even more troubling than the breakdown in November job quality, was another seldom-touted series: the number of Multiple jobholders, or people who are forced to hold more than one job due to insufficient wages or for other reasons. It was here that the red flashing light came on because while on a seasonally adjusted basis, the series rose once again by 61,000 to 7.8 million; when looked on an actual, unadjusted basis, the number of multiple jobholders increased again, rising by 57, and hitting 8,107 million, the highest number this century.

Webmaster's Commentary: 

These numbers, coupled with the reality that 95 million American workers are no longer participating in the labor market, does not augur well for the American economy.

Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

Dec 02 13:43

Erdogan Demands Turks Exchange Their Dollars To Gold, Lira

Early this morning, in yet another session of panicked selling, the Turkish Lira crashed to new record lows to just shy of USDTRY 3.60, momentarily going bidless as the currency plunged nearly 400 pips in seconds, after Turkish President Recep Erdogan said the path for investors will be opened with lower interest rates, and urged the central bank to imitate Japan and U.S. where rates are low: “why should we go around with 14-15 percent?”

The answer is simple: the currency tends to drop when an economy is seen as weak, the political regime unstable, or - yes - a central bank cuts rates, which Turkey, as shown in the chart below, can not afford if it hopes to maintain a stable economy with the lira already at all time lows.

Webmaster's Commentary: 

The question is, how can Erdogan actually FORCE the Turkish people to do this, save for some Executive Decree, under the still existing "Emergency Powers" he possesses, and if he does that, how will he get the Turkish people to comply?!?

House to House raids by the Turkish military?!?

Oh, THAT's just going to be SOOOOO appealing to the Turkish people!!

Dec 02 13:37

Deutsche Bank Stock Slides After "Cutting Off" 3,400 "Non-Strategic" Trading Clients

In September, headlines of Deutsche Bank trading clients pulling collateral sparked grave concern over the world's most systemically dangerous bank. Today, the stock is sliding once again as WSJ reports the bank said it would cease providing some coverage for about 3,400 actively trading clients in its global markets division, according to a memo sent to equities staff.

Webmaster's Commentary: 

This looks double plus ungood for Deutsche Bank.

Added to the reality that Italy's banks are in serious trouble, the European economy may be on the way to a terrible spinout, and could possibly take the US economy down with it.

Up To Eight Italian Banks May Fail If Renzi Loses Referendum

Dec 02 13:20

Iran Threatens to Walk Away From Nuke Deal, Retaliate Against U.S. for New Sanctions

Iran is threatening to walk away from the nuclear deal with the United States and pursue forms of retaliation, including a national boycott of American goods, as a result of Congress’s overwhelming vote on Thursday to level new sanctions against Iran for another 10 years, according to multiple comments by senior Iranian officials.

Following the Senate’s 99-0 vote to renew economic sanctions on Tehran, senior Iranian officials said the United States is in violation of last summer’s nuclear deal and that Iran is prepared to retaliate, which could include abandoning the agreement.

The comments come as the Obama administration scrambles to preserve the deal in its final months in office, ahead of the inauguration of President-elect Donald Trump, who has been assembling a cabinet filled with fierce opponents of the accord.

Webmaster's Commentary: 

This appears to have been a very carefully crafted tactic by the US Senate to anger the Iranians to the point where they walk away from the P5+1 nuclear deal, and restart their nuclear weapons program as the "justification" for the US declaring war against Iran (which will almost certainly mean war with Russia.)

If I could ever craft an amendment to the Constitution it would be this; when all Congressional candidates declare their candidacy, that is the moment that one of their kids must enlist in the Armed Forces, in units most likely to see front-line action.

I am almost willing to bet that this will dampen Congressional ardor and lust for war, because, this time, with their kids tasked to participate in combat, ...it's personal. It's not just "other people's kids", getting killed and maimed for life, ultimately, for corporate profit; but will potentially be their own.

Dec 02 12:03

US employers add 178K jobs as unemployment sinks to 4.6 pct.

U.S. employers added a solid 178,000 jobs in November, reflecting the steady economy President-elect Donald Trump will inherit. The unemployment rate hit a nine-year low of 4.6 percent, though mainly because many people stopped looking for jobs and were no longer counted as unemployed.

Webmaster's Commentary: 

They even admit they are fudging the data, yet still claim we are the "Fake news."

Dec 02 11:53

Russia, China and India work on major yet natural attack on US dollar

India and China are one of the leaders in terms of the economic growth, not only in Asia but also worldwide. According to the IMF, China's GDP growth this year will make up 6.5%, whereas India's GDP growth is expected to exceed 7%. In 2016, Russian oil companies have significantly increased oil exports to China, making payments in rubles or yuans. In five or seven years, Russia, China and India will fully refuse from both the euro and the dollar in international payments and switch to settlements in national currencies. Therefore, a closer long-term cooperation between the three BRICS members may strike a certain blow on the US dollar, the expert believes. According to economists, the world still prefers the US dollar, but this is not a vote of confidence in the US currency. Roughly speaking, this is a vote against all other currencies. The 20th century was a century of "dollarization," whereas these days, one can see a reverse process gaining momentum.

Dec 02 11:35

THE REST OF OBAMA’S LIFE WILL BE SPENT TRYING TO SHIFT BLAME FOR HIS FAILED PRESIDENCY:

Every problem caused by Obama is somehow Bush’s fault and every problem he leaves as his legacy is Trump’s. At least he is consistent.
The amusing thing is that, within a few years, it will be as if Obama was never President.

Dec 02 10:21

The coming crisis will be ‘far more’ damaging than 2008

Prem Watsa stood at the podium and delivered the most prescient warning the crowd would hear…

There’s a one-in-50- or a one-in-100-year storm coming… When the music stops, it stops very quickly.

Dec 02 09:59

During An Economic Collapse Hyperinflation Will Wipe Out The Savings Of The People

Central Bankers accelerate the war on cash. Venezuela braces for hyperinflation

Dec 02 09:36

Criminals can guess Visa card number and security code in just six seconds, experts find

Criminals can work out the card number, expiry date and security code for a Visa debit or credit card in as little as six seconds using guesswork, researchers have found.

Experts from Newcastle University said it was “frighteningly easy” to do with a laptop and an internet connection.

Fraudsters use a so-called Distributed Guessing Attack to get around security features put in place to stop online fraud, and this may have been the method used in the recent Tesco Bank hack.

Dec 02 08:40

Americans Fear The Stock Market-Understanding Market Sentiment Key To Winning.

Overcoming the Fear of losing money in the stock markets is the main ingredient necessary to win. You do the opposite of what your gut tells you and what the crowd is doing. when the herd is happy, you should be scared; buy when there is blood in the streets

Dec 02 08:29

Medica Likely No Longer Provider to Enrollees in Medical Assistance

Starting in May, Medica will no longer provide insurance to people enrolled in medical assistance and Minnesota Care.

It appears Medica’s bid to be one of the insurers for the program was too low.

Dec 02 08:09

EUROZONE CRISIS: Italian bank shares DIVE contaminating Euro markets ahead of referendum

The country's oldest lender Monte Dei Pasche saw stocks plummet by more than one per cent, while the country's biggest bank UniCredit was also trading in the red.

At the same time, Italy's top stock market the FTSE MIB was down by almost one per cent - the index has already lost around 20 per cent of its value this year.

Dec 02 07:41

Americans Not In The Labor Force Soar To Record 95.1 Million: Jump By 446,000 In One Month

Why did the unemployment rate tumble from 4.9% to 4.6%? Simple: the number of Americans who are no longer in the labor force spiked by 446,000 in November, hitting an all time high of 95.1 million.

Dec 02 06:58

Italy’s Sunday Vote Set To Trigger The “Most Violent Economic Shock In History”

Latest Italy polls show 54% support for “No”, which will tear apart the EU, the world’s largest economy, triggering an epic stock market crash.

Dec 01 21:20

Over 250,000 Will Be Homeless In England This Christmas, Charity Warns

More than a quarter of a million people in England will be homeless this Christmas as high rents, benefit cuts, and a worsening housing crisis create the perfect storm, a UK charity has warned.

Figures compiled by Shelter reveal that 255,000 people across the country are forced to live in hostels and other types of temporary accommodation, or to sleep rough on the streets.

Dec 01 19:13

China’s Economic Imperialism Could Spell Trouble

In 2007, a Chinese company bought Mount Toromocho in Peru. That’s right. A mountain, in another country.

Dec 01 18:15

Is the 35 Year Bond Bubble Finally Bursting?

Thirty-five years ago the US was experiencing some of the worst inflation the country had ever seen. It was a shock to the economists at that time when an oil embargo on exports to the US caused oil prices to skyrocket.

Dec 01 17:51

Report: Downtown Minneapolis Macy’s To Close

After decades as a flagship department store in the downtown district, the Nicollet Mall Macy’s will soon be shutting its doors, according to a report from Twin Cities Business Magazine.

The publication says Macy’s informed city officials of its plans to permanently close in the first half of 2017. The rumored announcement isn’t expected until after the holiday season, which means this year may be your last chance to visit the long-running Santaland attraction at the store.

Dec 01 17:42

The Stage Has Been Set, Obama Hands Over A Healthy Economy To Trump?

Consumer confidence surges at the end of Obama's Presidency. US home prices have just reached 2006 levels according to Case Shiller.

Dec 01 16:48

These Were Supposed To Be Hillary’s Numbers!

Good headlines just keep coming. The Chicago PMI index of Midwest economic activity jumps to its highest level in two years. The ADP employment report shows 216,000 new jobs added in November. US Q2 GDP growth is upgraded to a completely acceptable rate of 3.2%.

Dec 01 16:24

Rickards: First the War on Cash, then the War on Gold

The global elites are using negative interest rates and inflation to make your money disappear. The whole idea of the war on cash is to force savers into digital bank accounts so their money can be taken from them in the form of negative interest rates.

Dec 01 15:44

Dollar General's Startling Admission: Half Of U.S. Consumers Are Feeling More "Dire" Than Ever

"We talk to our consumers every quarter ... and they were telling us that their sentiment - feeling - is even more dire than it was in previous quarters in early 2016."

Dec 01 15:42

Turkish Lira Crashes To All Time Lows, Biggest Drop Since Failed Coup Attempt

The relentless dollar rally continues to slam the Turkish lira, which has been printing fresh all time lows on a daily basis, and today has been no exception, tumbling over 1.8%, and pushing the USDTRY to an all time high above 3.50.

Dec 01 15:41

Protests Slam India's Economy As "The Concept Of Money Dies"

Fear has gripped the bullion market, for one is deemed to be guilty until proven otherwise. People with perfectly legal cash are afraid of cameras recording their purchases and having to pay outrageous bribes. After an adjustment period people will buy more — not less — gold. For now, the gold market has gone mostly underground with the gold price hovering around US$1,700 per ounce. Did Modi want to boost the informal economy?

Dec 01 15:35

One Scary Chart: Venezuela's Currency Disintegrates

So for anyone still unsure what real-time hyperinflation looks like, here is the updated visual answer.

Dec 01 15:21

The rising socialist movement is not only dangerous but also a direct threat of your human right to free speech

During the past election cycle Bernie Sanders rose to popularity with his ability to convey an anti-establishment message. People across the country were inspired by his message against big banks and our dysfunctional government. It is easy for the average American to be enamored with this seemingly harmless message.

Dec 01 15:00

Pipe Dream? Trump Wants Apple to Move Production to US

Silicon Valley has enjoyed its relationship with Obama, but it is unclear how the world’s largest tech giants will fare under a Trump administration. For example, Donald Trump told Apple CEO that he was going to “get” the tech giant to start manufacturing its products in the United States. This happened when Trump received a post-election phone call from Tim Cook during which he said that if Apple built a big plant (or many) in the United States, it would be a real achievement. Cook said he understood that, and Trump went on to promise multiple incentives through tax breaks and reduced regulations.

Dec 01 13:59

China Losing Control? PBOC Imposes New Yuan Outflow Limits For First Time In Two Decades

Late last week, we reported that in its latest push to limit and/or halt capital outflows, China unveiled new capital controls meant to stem further capital flight disguised as outbound M&A by clamping down with tighter controls on Chinese companies seeking to invest overseas, intensifying efforts to slow a surge in capital fleeing offshore amid tepid growth and an uncertain economic outlook. Beijing was said to focus on “extra-large” foreign acquisitions valued at $10 billion or more per deal, property investments by state-owned firms above $1 billion and investments of $1 billion or more by any Chinese company in an overseas entity unrelated to the investor’s core business. The new controls would apply to deals yet to receive approval from China’s top economic planning agency.

It did not end there.

Dec 01 13:32

2016 Economic Predictions: Year of the Epocalypse

An economic apocalypse upon us. My 2016 economic predictions provide the full explanation as to why 2016 will be the year of the Epocalypse — a word that encompasses the roots “economic, epoch, collapse” and “apocalypse.”

Dec 01 11:51

When the first small piece of sh*t finally sticks.

So could it really be that after years of stonewalling, Draghi, the ECB and the cabal of central bankers and regulators, are finally being dragged blinking in to the light?

Dec 01 11:48

What Is The Unemployment Rate Telling Us About The Next Recession?

Many people know the official unemployment rate that the Federal Reserve feeds us is not an accurate depiction of how many people are truly unemployed.

Dec 01 11:23

Exposing The Hoax That If The Stock Market Rises The Economy Is Doing Well

Australian housing market completely implodes on itself. ADP reports more individuals getting jobs after a revision. The jobs are not manufacturing but service sector jobs.

Dec 01 11:16

GoPro makes cutbacks after drone crashes

Action camera-maker GoPro is cutting 200 jobs and shutting down some of its services.

The announcement follows a series of drone crashes that made the company recall its much anticipated Karma aircraft.

In addition, the US company said its president, Anthony Bates, would quit his post at the end of the year after three years in the job.

Dec 01 10:44

Corporate Welfare Will Bring Back Jobs Vs. Jobs Will Never Come Back

The Carrier company’s announcement that, after exhortations from Donald Trump, it was going to move a thousand jobs overseas—rather than the 2,000 that it had previously planned to move—led New York Times reporter Nelson Schwartz (11/29/16) to declare that “Mr. Trump is a different kind of Republican, willing to take on big business, at least in individual cases”:

Dec 01 10:42

Is Steve Mnuchin Just Another Wall Street Banker?

After weeks of speculation, Donald Trump has announced Steve Mnuchin as his nominee for Treasury Secretary.

Though Mnuchin himself has said little, his resume does seem to contrast sharply with Trump’s populist campaign. Mnuchin, like his father before him, was a partner at Goldman Sachs before joining the world of hedge funds, including working as a portfolio manager for George Soros.

There are some troubling signs that Mnuchin is unlikely to “drain the swamp” connecting Wall Street to the beltway.

For example, during interviews following the official announcement, he was quick to praise Janet Yellen as having done a “good job,” after Trump spent much of his campaign criticizing the sitting Fed Chairman. He also entertained the idea of following the lead of other countries in possibly issuing 50–100 year bonds government bonds

Dec 01 09:51

Rural Democrats: Party Ignored Us, Suffered the Consequences

Democrats in rural America have a blunt message for the rest of their party: We saw the electoral disaster coming — and it’s your fault.

Strategists and party officials say their warnings about the party’s lackluster outreach to rural voters went unheeded by Democratic leaders for years, culminating in this month’s shock defeat to Donald Trump. A presidential candidate who actually performed poorly in many cities and suburbs nonetheless scored an upset victory because of a surge in support from small towns and rural areas.

To these old Democratic political hands — many of whom hail from well outside the cities where most party professionals live — the outcome would have been preventable if the party had developed and sustained an effort to win over these voters. Instead, they say a Democratic Party that focused on only the urban and suburban vote either ignored rural America entirely or badly mishandled the outreach it did undertake.

Webmaster's Commentary: 

To Americans in many rural areas, who have watched their jobs getting offshored and outsourced, where they live is not "flyover country", as many glib Democratic politicians like to describe it; it is their home, and right now, home is very broken because of economic policies which have crippled and nearly destroyed many rural states.

Democratic politicians chose to ignore this reality, and that is one of the many reasons, they lost this presidential election.

Dec 01 09:42

Bernie Sanders: Donald Trump ‘Has Endangered’ U.S. Jobs With Carrier Deal

Sen. Bernie Sanders (I-Vt.) is not impressed by President-elect Donald Trump’s deal with Carrier Corp. to keep roughly 1,000 jobs at its Indiana plant instead of sending them to Mexico as planned.

The former Democratic presidential candidate ripped the apparent terms of the deal in an op-ed for The Washington Post.

“Trump has endangered the jobs of workers who were previously safe in the United States,” Sanders wrote. “Why? Because he has signaled to every corporation in America that they can threaten to offshore jobs in exchange for business-friendly tax benefits and incentives.”

Webmaster's Commentary: 

A short memo to Senator Sanders; sir, you really need to get out more.

Because if you did, you would understand that many Americans, who do not make anywhere near the money you make as Senator, are not threatened with the concept of "business friendly" tax deals which keep their jobs right here in the USA.

The offshoring/outsourcing of jobs, which used to be the bedrock of America's middle class, has had an absolutely devastating effect on this country. Homeless camps abound, and are expanding exponentially.

So congratulations on one of your President's "great legacies" to this country:

images of homelessness in America, 2016

Dec 01 09:20

Thousands Of Veterans To Form ‘Human Shield’ For Dakota Protestors

Thousands of veterans are planning to form a human shield around the Standing Rock Sioux Reservation to protect protestors from police brutality.

Up to 2,000 veterans are expected in North Dakota amid violent clashes between protestors and militarised cops over the construction of an oil pipeline.

The nonviolent intervention by the veterans aims to protect the brave protestors from “assault and intimidation at the hands of the militarized police force”.

Nationalpost.com reports:

The veterans’ plan coincides with an announcement Tuesday by law enforcement officials that they may impose fines to block supplies from entering the main protest camp after a mandatory evacuation order from the governor. Officials had warned earlier of a physical blockade, but they later backed away from that, Reuters said. Protesters have vowed to stay put.

Webmaster's Commentary: 

To all protestors in this situation: please be careful out there, and stay non-violent. Make sure that all actions, by you, and by the police, are consistently documented on camera, using several cameras,if at all possible.

There is absolutely no telling to what depths of butchery these militarized police have been ordered to sink, courtesy of their corporate masters.

Dec 01 09:13

MODI'S BANK TRANSACTION TAX MAY LEAD TO LARGER CONFLICTS

It now turns out that Modis extremism in not confined to the nationalist bend but includes some crazy economic ideas.

Modi decided to demonetize the country from one day to another. Every bank note valued at over US$7 was taken out of circulation. The rather crazy idea behind this is to move all monetary transactions to some electronic money systems and to then tax each and every transaction. All other kind of taxes would be abolished.

Only a lunatic without any knowledge of actual economic issues can support such a move.

Webmaster's Commentary: 

With India and Pakistan on the brink of war over the issue of Kashmir, one would think this might not be the best time to introduce such a draconian change in the way India's economy works.

Potential war with Pakistan, coupled with massive riots over the change in the economic system at home?!?

It is painfully apparent that a number of people in Modi's cabinet suffer from an almost pathological inability to think multiple, concurrent scenarios all the way through to their logical conclusions.

Dec 01 07:57

SHOCK: Amnesty International Blasts Kellogg’s for Using Child Labor-Produced Ingredients

The new report, “The Great Palm Oil Scandal,” released Wednesday, “investigates labour exploitation on plantations in Indonesia that provide palm oil to Wilmar, which is the world’s largest processor and merchandiser of palm and lauric (palm kernel) oils and controls over 43% of the global palm oil trade.”

Wilmar provides palm oil to Kellogg’s and other producers of consumer goods.

Dec 01 07:47

White House downplays Trump Carrier announcement

The White House on Wednesday scoffed at President-elect Donald Trump’s agreement to keep 1,000 manufacturing jobs in Indiana, saying it does not come close to President Obama’s “high standard” for creating similar jobs.

Dec 01 07:47

Six Narratives on the Ascendancy of Trump

Perhaps the masses have (finally!) reached the point where the pain of maintaining the status quo now exceeds that of breaking it.

A remarkably diverse array of "explanations" of Donald Trump's presidential election victory have been aired, representing both the conventional political spectrum and well beyond.

Dec 01 07:40

A eulogy for RadioShack, the panicked and half-dead retail empire

But as this company has spent the last decade-plus trying to save itself, the happiness of the employees has always been the first to go overboard. Its store managers are worked so hard that they become unhappy, half-awake shadows of themselves. Labor laws have been brazenly ignored. Untold hours of labor haven't been paid for (when I quit, on good terms and with two weeks' notice, they withheld my final paychecks for months and wouldn't tell me why). Lawyers have been sent to shut down websites that have bad things to say about RadioShack. Employees who make a few dimes over minimum wage are pressured, shamed, and yelled at as though they're brokering million-dollar deals.

RadioShack is a rotten place to work, generally not a very good place to shop, and an untenable business to run. Everyone involved loses.

These are stories from my three and a half years as a RadioShack employee.

Webmaster's Commentary: 

Radio Shack's mistake was to abandon their original customer base of electronics hobbyists and sell the exact same consumer electronics that were being sold by dozens of other retail chains.

Nov 30 16:54

The Trump Reflation Trade---The Biggest Short Ever -- Financial Markets Are Heading Straight Into A Perfect Storm Of Central Bank Failure, Bond Market Carnage, A Worldwide Recession And A Spectacular Fiscal Bloodbath In Washington.

To be sure, we welcomed Trump’s election because it amounted to an impeachment of the existing Wall Street/Washington ruling elites. It will throw Imperial Washington into bitter strife and dysfunction. Within months the looming $20 trillion debt ceiling expiration and lapse of the US economy into outright recession will finally put an end to the nation’s kick-the-can fiscal fantasy.

Nov 30 15:37

U.S. PROTESTS FOR HIGHER MINIMUM WAGE - Masses Fight For $15 Per Hour

Dozens of people were arrested Monday as they participated in protests nationwide for a $15 per hour minimum wage.

Nov 30 15:30

Trump Picks Former Goldman Banker Steven Mnuchin As Treasury Secretary

The WSJ has confirmed as much, reporting that "President-elect Donald Trump will name longtime banker and former Goldman Sachs executive Steven Mnuchin as Treasury secretary, turning to a campaign loyalist and fundraiser for the incoming administration’s top economic cabinet post, a transition official said Tuesday."

Nov 30 14:46

Keiser Report: Attractive Debts

In this episode of the Keiser Report, Max and Stacy go on the road, in a golf cart, to talk models - macroeconomic models and how changing the model can magically make debt appear more attractive. They look at failed models like health care and the economics of 'draining the swamp.'

Nov 30 14:08

Angry Mobs Lock Up Indian Bankers As Cash Chaos Soars: "We Are Fearing The Worst"

India's demonetization campaign is not going as expected.

Overnight, banks played down expectations of a dramatic improvement in currency availability, raising the prospect of queues lengthening as salaries get paid and people look to withdraw money from their accounts the Economic Times reported.

While much of India has become habituated to the sight of people lining up at banks and cash dispensers since the November 8 demonetisation announcement, bank officials said the message from the Reserve Bank of India is that supplies may not get any easier in the near future and that they should push digital transactions. “We had sought a hearing with RBI as we were not allocated enough cash, but we were told that rationing of cash may continue for some time,” said a banker who was present at one of several meetings with central bank officials.

Webmaster's Commentary: 

Unless there is some kind of "give" on the part of India's Central Bank, and Parliament, Prime Minister Modi may well have a revolution on his hands in the not too distant future.

Nov 30 13:10

“Trump Effect” Propels Americans’ Economic Hopes to Record High in Notoriously Gloomy Gallup Poll

Sudden, infectious enthusiasm for “current economic conditions?”

Nov 30 12:44

Why Gold Isn’t Rallying After Trump’s Win

Even though the markets haven’t behaved logically of late, it would have seemed a slam dunk for gold to rise if Donald Trump won.

Nov 30 10:43

A Few Notes On Trump's Pick Of Swamp-Dweller Neocon "Elaine Chao" As Head Of Dept. Of Transportation, From A Real (Non-PC) Trucker

Elaine Chao, Bush crony & Mitch McConnell's wife!?! I have some comments on this, as a trucker, business owner and someone who is literally affected by all the absurd edicts of the DOT every day. If you"re politically-correct or easily offended, I'm warning you, leave now. By the way I have also reported extensively on Obama's disastrous DOT and the horrible clueless dingbat woman he had running the place, Anne Ferro. if you dare to learn a real recent example of how all these convoluted DOT rules affect the lives & business of truckers, enter here.

Nov 30 10:36

Things Are Getting Serious in Mexico’s Corporate Debt Crisis, Fearing “A Large-scale Crisis” In Foreign Currency Debt.

Since central banks embarked on their madcap ZIRP and QE during the Financial Crisis, emerging-market companies have not been able to resist the fatal allure of cheap dollar debt. As the good times rolled, the risks were ignored.

Nov 30 08:39

ITALY IN CRISIS: 50,000 angry protestors take to the streets in bid to topple pro-EU Renzi

FURIOUS protestors have taken to the streets of Rome just days before a referendum which could spark the beginning of the end of Italy’s place in the European Union.

The controversial vote on government-backed constitutional reform will take place on Sunday and, if polls are correct, will see defeat for Prime Minister Matteo Renzi.

The No camp are currently 11 percentage points ahead with just days to go.

Nov 30 08:12

Fed Rate Hike in December? Watch This Video and Stop Believing Their BS!

Will the Fed raise rates? Maybe. But I'm not going to be dragged along any further into believing what they say is actually what their actions are. If they raise, they raise. But I don't believe their meetings are anything but propaganda for the agenda.

Nov 30 07:40

Trump selects Washington insider Elaine Chao to run DOT

President-elect Donald Trump has chosen Elaine Chao to be his Secretary of Transportation, the head of the U.S. Department of Transportation. Chao served as President George W. Bush’s Secretary of Labor for the entirety of Bush’s presidency. She’s also the wife of Senate Majority Leader Mitch McConnell.

Nov 30 06:54

Paul Craig Roberts - Dollar Should Be Reduced Already to the Level of Toilet Paper, Fake News List Death Knell for MSM

On holding physical gold and silver, economic expert and journalist Dr. Paul Craig Roberts, who holds a PhD in economics, says, “Anyone who has surplus funds should be holding gold and silver because the dollar should be reduced already to the level of toilet paper.

Nov 30 06:47

Oil prices surge as OPEC reportedly reaches deal to cut production by 1.2 million barrels

The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut supply by 1.2 million barrels per day (bpd) versus the current 33.64 million barrels, according to Bloomberg. Crude prices soared almost eight percent on the report.

Nov 30 06:35

Trump Reaches Deal To Keep 1,000 Carrier Jobs In The U.S.

Nine months ago the video of a plant-full of American workers getting the news that they were 'fired' due to Carrier International moving its air-conditioning plant from Indiana to Mexico went viral and became a meme for Trump's "America First" plans. Today, according to CNBC's David Faber, the Trump team and United Technologies have reached an agreement on keeping close to 1,000 factory jobs at the Carrier plant in Indiana.

Nov 30 06:20

Globalists Declare Trump Will Usher In New Era Of Prosperity For The United States

AFP reports, President-elect Donald Trump's big-spending plan and tax cuts are expected to help double the US economic growth rate by 2018, the Organisation for Economic Co-operation and Development said Monday.

Nov 29 21:32

Euro DIVES amid fears Italy's referendum is beginning of the END of EU

The euro tumbled against both the pound and the dollar today, as fears for the bloc's future gathered pace.

Markets are gearing up for political and financial turmoil if Italian Prime Minister Matteo Renzi loses the vote, as expected, over constitutional reform.

The last poll ahead of the vote gave the ‘no’ campaign against reforms a five per cent lead.

It is thought an anti-euro party could replace the leader, sparking contagion in Spain and Portugal.

Nov 29 19:03

Trump Is Meeting with an Ex-bank Ceo Who Wants to Abolish the Federal Reserve and Return to the Gold Standard

As President-elect's Donald Trump's transition rolls on, more and more attention is being paid to possible selections for a variety of high-ranking positions and meetings that might help decide these appointments.

On Monday, Trump will meet with John Allison, the former CEO of the bank BB&T and of the libertarian think tank the Cato Institute.

There have been reports that Allison is being considered for Treasury secretary.

Nov 29 15:22

Central Bankers Are Quietly Discussing Taxing Withdrawals From ATM's

Central bankers are now pushing the idea of taxing cash withdrawals. War on cash is now spreading to Spain. Italy's referendum might trigger banks to collapse.

Nov 29 15:00

GET READY: IRS PUTS CROSSHAIRS ON EVERY AMERICAN WITHOUT OBAMACARE

Nov 29 14:32

Thousands Protest Brazilian President Ahead of Vote on Public-Spending Cap

BRASÍLIA—Thousands of demonstrators on Tuesday evening staged one of the strongest protests against Brazilian President Michel Temer and his fiscal-austerity agenda, turning over cars and trying to break into the country’s Senate as police fired tear gas and what appeared to be rubber bullets.

Nov 29 14:19

BOLIVIA ASSERTS NEWFOUND ECONOMIC INDEPENDENCE, REJECTS ROTHSCHILD BANKS

Bolivian president Evo Morales recently announced that Bolivia will no longer respond to pressure or blackmail from the US government or Rothschild-controlled international banking institutions.

Webmaster's Commentary: 

"INVADE! INVADE! INVADE NOW!!!" -- Official White Horse Souse

Nov 29 13:39

Jim Rickards: Elements for financial lockdown are in place

James G. Rickards joined up with the Mises Institute to discuss his latest book out now, The Road to Ruin, and how the financial lockdown could come sooner than expected.

Nov 29 13:39

The potential ‘gold trigger’ that likely isn’t on your radar

On May 6, President Obama passed a historically important milestone for which there was no fanfare or jubilation…

Nov 29 12:15

OBAMA’S LEGACY: OBAMACARE FAILURE, DRONE POLICY FAILURE, GUANTANAMO FAILURE, NSA SPYING FAILURE

Gallup’s Daily Obama Approval Rating poll shows Americans view president Obama consistently higher now than at any time since 2009.

His popularity is more of a reflection on Obama being a likable person, than having likable policies. It’s also a reflection on the extreme unpopularity of both Hillary Clinton and Donald Trump.

Likable or not, Obama’s legacy will be one of complete failure. Vox reports The whole Democratic Party is now a smoking pile of rubble.

Vox missed some things, lots of things actually, but the headline is accurate enough.

Everything Obama stood for is about to be undone, except perhaps his drone policy which was a miserable failure and should be undone.

Obamacare Failure
Drone Policy Failure
Trade policy Failure
Libya Failure
NSA Spying Failure
Guantanamo Failure
Russia Failure

Webmaster's Commentary: 

Mr. Shedlock left off two very important failures of the Obama "legacy"; his failure to stop the war in Afghanistan, and his failure to prevent the absolute crash of the of the middle class, courtesy of intense offshoring/outsourcing of American jobs.

In President Obama's mind, this is what his America looks like: moneyed, connected, and elite:

What Obama thinks America looks like

Unfortunately, for way too many Americans, living under his watch as President, this is what their America looks like:

Tent Cities Continue to Grow in California

As reported by Tyler Durden at zerohedge.com in September of this year:

"Submitted by Michael Snyder via The Economic Collapse blog,

Just like during the last economic crisis, homeless encampments are popping up all over the nation as poverty grows at a very alarming rate. According to the Department of Housing and Urban Development, more than half a million people are homeless in America right now, but that figure is increasing by the day. And it isn’t just adults that we are talking about. It has been reported that that the number of homeless children in this country has risen by 60 percent since the last recession, and Poverty USA says that a total of 1.6 million children slept either in a homeless shelter or in some other form of emergency housing at some point last year. Yes, the stock market may have been experiencing a temporary boom for the last couple of years, but for those on the low end of the economic scale things have just continued to deteriorate."

I am cautiously optimistic that President Elect Trump will be more of a President for ALL the American people; not just the moneyed; the elite; and the connected.

But only time will tell.

Nov 29 11:53

What these ‘mysterious deaths’ tell us about our global banking system

David Rossi picked a painful way to commit suicide.

On March 6, 2013, the successful 51-year-old bank executive apparently jumped backwards out of his third-story office window. He landed on his back 30 feet below in the cobblestone alley behind his office.

Nov 29 11:28

Saudis Brace for Bankruptcy, Bring Dramatic Measures to Public Sector

A two-year drop in oil prices has inflicted a dramatic blow to the economy of one of the world’s richest countries. If no changes are made, Saudi Arabia, according to some Saudi experts, will go bankrupt in three to four years.

Webmaster's Commentary: 

This is what happens when policies are implemented without thinking them all the way through. This attempt at an oil-price war to harm Russia backfired and caused more harm to Europe, the Middle East, and even the US than it did to Russia.

Nov 29 10:02

Venezuela's currency now worth so little shopkeepers weigh vast piles of notes instead of counting them

Inflation in Venezuela is expected to reach 720 per cent this year, with the largest bolívar bill now worth just five US cents on the black market.

Some shopkeepers have reportedly taken to weighing rather than counting the wads of cash customers hand them, and standard-size wallets have become all but useless in the socialist South American state. Instead, many people stuff huge volumes of cash into handbags, money belts, or backpacks, in scenes analysts have said are suggestive of "runaway" inflation.

In 2014, plummeting global oil prices decimated Venezuela's economy. President Nicolás Maduro responded by fixing the official exchange rate and ordering banks to print more cash, which ultimately devalued the currency further, while goods prices soared.

Webmaster's Commentary: 

There is only so long this can continue before there will be a massive societal breakdown, coupled with a revolution against the existing government.

The big question, ultimately, will be with whom Venezuela's military sides; that of the people, or that of the government.

Nov 29 09:19

End the Fed To Really ‘Make America Great Again’

Former Dallas Federal Reserve Bank President Richard Fisher recently gave a speech identifying the Federal Reserve’s easy money/low interest rate policies as a source of the public anger that propelled Donald Trump into the White House. Mr. Fisher is certainly correct that the Fed’s policies have “skewered” the middle class. However, the problem is not specific Fed policies, but the very system of fiat currency managed by a secretive central bank.

Federal Reserve-generated increases in money supply cause economic inequality. This is because, when the Fed acts to increase the money supply, well-to-do investors and other crony capitalists are the first recipients of the new money. These economic elites enjoy an increase in purchasing power before the Fed’s inflationary policies lead to mass price increases. This gives them a boost in their standard of living.

Nov 29 08:46

Testy Tuesday – Will S&P 2,200 Hold on Real Volume?

The low-volume rally comes to an end – now what?

Nov 29 06:15

Peak Silver & Continued Supply Deficits Warn Of Future Higher Prices

If the market has finally experienced a peak in world silver production, this warns of higher prices in the future. In addition, the global silver market suffered another large net supply deficit in 2016. These factors point to a big upcoming trend change in the future silver market.

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