ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 27 07:54

Britain will be better off than the EU after Brexit and 'highly attractive' for investors, says Germany business chief 

Britain will thrive outside the European Union as the bloc turns inward, a top German business leader has said.

Mathias Döpfner, chief executive of media giant Axel Springer, said the UK would be ‘highly attractive’ to investors after it left.

Sep 27 07:40

Trump Won? His Attacks on the Fed and Politics Need to Go Even Deeper

The Financial Times continues to provide a blow-by-blow description of Trump’s attacks on central banking.

Trump is hurting the Fed, and well he should. Things will likely get a lot worse before they get better.

Sep 27 07:38

THE GRIM REALITIES OF GLOBALISATION IN THE NEW MILLENNIUM

Globalisation has been sold as a panacea to the world’s ills but in reality it was not much more than a spurious and fraudulent deception. Martin Wolf, arguably the most influential economics w in Britain today, confirms this in a piece published in the FT entitled “Capitalism and Democracy: The Strain is Showing”. Wolf says “fixing the economic norms most English-speaking refer to as capitalism will be difficult. But a first step requires rethinking what elites have referred to for three decades as ‘free trade’ or globalisation.”¹

Sep 27 07:33

WARNING: Deutsche Bank collapse could BURY EU as stocks plunge FURTHER in day two CARNAGE

THE Eurozone's banking system could implode, dragging the euro down with it, if Angela Merkel's government allows Deutsche Bank to fail, experts have warned, as the bank's share price hit new lows in this morning's trading.

Sep 27 07:08

EIGHT-CENT EGGS: GROCERY PRICES ARE PLUNGING

Sep 27 07:08

The Case Against Veganism — Carefully Researched Book Spills the Beans

Story at-a-glance -
There doesn’t appear to be a single population of any significant size in the history of the world who survived on an exclusively plant-based diet, so from a health perspective, there’s little support for the strict veganism idealized today
Veganism involves the complete exclusion of ALL types of animal products — not just meat and animal organs, but also products obtained from live animals, such as dairy and eggs. It also excludes seafood
A vegetarian diet that includes some animal foods in the form of eggs, dairy and fish, makes for a healthy balanced diet that supplies all the critical nutrients your body needs for optimal health

Sep 26 16:24

WORLD OF DEBT…

Global debt issuance is on course to hit a record high in 2016 as figures showed sales this year topped $5 trillion (£3.9 trillion) at the end of September. Debt issuance rose to $5.02 trillion in the nine months to September 22, according to Dealogic, putting 2016 on course to beat the all-time high of $6.6 trillion recorded in 2006.

Sep 26 16:00

Germany "Other" Bank: Commerzbank To Fire 9,000, 18% Of Its Entire Workforce

While the market's attention has been transfixed by the latest crash in the stock of Europe's biggest bank, now that concerns about Deutsche Bank's $2 trillion balance sheet have violently resurfaced, it is worth recalling that Germany's "other" mega bank, DB's smaller rival, Commerzbank, whose balance sheet is hardly looking much healthier, is planning to cut around 9,000 jobs over the coming years as Germany's second biggest lender pushes ahead with a restructuring plan, Handelsblatt reported earlier today, citing unnamed sources in the finance industry.

The round of layoffs would eliminate a massive 18% of the bank's entire workforce.

Sep 26 15:32

“Before They Exchange Blows”: Economic Facts Americans Should Remember in Trump-Clinton Debate

During the debate, Trump and Clinton will talk a lot about tinkering with tax rates and regulations, but those measures are essentially going to be meaningless when compared to the massive economic tsunami that is coming. The next president is going to inherit the biggest economic problems that this nation has ever faced, and it is going to take a miracle of Biblical proportions to turn the U.S. economy in the right direction.

Sep 26 15:30

Brit Bankers Busted For $300 Million Fraud Tied To Hookers & Blow

Investment bankers and hedgies have long had a flare for the excesses in life. There is, of course, the epic tale of the former Jefferies equity salesman who spent $75k on a Miami bachelor party for one of his clients that included a private jet, limos, dwarf-tossing and exotic dancers. Or there is the more recent tale of the 31-year-old portfolio manager for Moore Capital, Brett Barna, who threw a wild “Wolf of Wall Street”-style Hamptons party, complete with Champagne, scores of bikini-clad women and costumed gun-toting midgets, and in the process trashed a $20 million mansion.

Sep 26 14:31

It might be time to dust off the government shutdown clocks. A senior Democratic aide said Senate Democrats are expected to block the stopgap spending plan that’s currently on the table.

It might be time to dust off the government shutdown clocks. A senior Democratic aide said Senate Democrats are expected to block the stopgap spending plan that’s currently on the table.

Sep 26 14:03

The Greatest Depression

Although it’s not official (which means government acknowledged), the U.S. is in a Great Depression that began in 2000 and has never really ended. Oh, it was papered over with massive spending, debt and false confidence and false government reporting and wars, but the depression remained.

Sep 26 12:10

What Blows Up First, Really, Deutsche Bank?

Sep 26 12:01

"It All Has A Very 2008 Feel To It" - For Deutsche Bank, The News Just Keeps Getting Worse

It has already been an abysmal day for Germany's biggest lender: overnight Deutsche Bank plunged to fresh all time lows on speculation whether the German government would or wouldn't provide state aid to the bank (if needed), forcing the bank to state it does not need the funds at the same time as the government urged markets that "you can't compare" Deutsche Bank and that "other" bank, Lehman Brothers, although looking at the chart, one may beg to differ.

Sep 26 11:52

OIL WARS: MAJOR DEAL TURNS ISRAEL INTO JORDAN’S LEADING GAS SUPPLIER

A deal between the operators of the Leviathan oil and gas field off the Israeli coast and Jordan Electric Power Company has just turned Israel into Jordan’s biggest gas supplier. The 15-year, US$10-billion contract was signed with a consortium, which includes local industrial major Delek Group and U.S. Noble Energy. Jordan will receive 45 billion cubic meters of gas under the deal.

Sep 26 10:41

Bernie Madoff Sleuth Harry Markopolos Warns of 3 New Ponzi Scams

At least three major Ponzi schemes are currently scamming American investors, according to Harry Markopolos, the man whose warnings about the Bernard Madoff Ponzi scheme were ignored by the Securities Exchange Commission (SEC).

“I’m working on three multi-billion dollar Ponzi schemes today,” Markopolos told ABC News, including one that he says will be bigger than Madoff’s. "You can’t stop them."

Sep 26 10:33

Washington Tries to Break BRICS – Rape of Brazil Begins

Washington’s regime change machinery has for the time being succeeded in removing an important link in the alliance of large emerging nations by railroading through a Senate impeachment of the duly elected President, Dilma Rousseff. On August 31 her Vice President Michel Temer was sworn in as President. In his first speech as president, the cynical Temer called for a government of “national salvation,” asking for the trust of the Brazilian people. He indicated plans to reform, and has also signaled his intention to overhaul the pension system and labor laws, and cut public spending, all themes beloved of Wall Street banks, of the International Monetary Fund and their Washington Consensus. Now after less than three weeks at the job, Temer has unveiled plans for wholesale privatization of Brazil’s crown jewels, starting with oil. The planned Wall Street rape of Brazil is about to begin.

Sep 26 10:10

26 Incredible Facts About The Economy That Every American Should Know Before The Trump-Clinton Debate

Are you ready for the most anticipated presidential debate in decades? It is being projected that Monday’s debate between Donald Trump and Hillary Clinton could potentially break the all-time record of 80 million viewers that watched Ronald Reagan and Jimmy Carter debate back in 1980. Many Americans probably hope to see some personal fireworks between the two nominees, but the two candidates have both expressed a desire to focus on substantive issues. There will likely be quite a few questions about the economy, and without a doubt this is an area where Trump and Clinton have some very sharp differences. The mainstream media would have us believe that the U.S. economy is in pretty good shape, and if that was true that would seem to favor Clinton. But is it actually true? The following are 26 incredible facts about the economy that every American should know for the Trump-Clinton debate…

Webmaster's Commentary: 

The real numbers look pretty damned depressing; but then again, people in government lie about pretty much everything, so why shouldn't they be lying now about the economy?!?

Nothing that comes out of the mouth of any politician, or the presstitutes who regurgitate their sound bites, can ever be trusted, ever again; it is in the independent media where the truth generally shows up.

Sep 26 09:11

The root cause of monetary confusion

Sep 26 08:39

Moody’s Downgrades Turkey’s Credit to Junk Level, Warns of Economic Crisis

Late Friday the agency cut Turkey's long term issuer and senior unsecured bond ratings to non-investment grade Ba1 from Baa3. The downgrade accounted for "the risks related to the country's sizeable external funding requirements and the weakening in previously supportive credit fundamentals."

Sep 26 07:21

Dallas police in crisis as dozens of officers suddenly retire early so they can get their pensions before the fund runs out 

Dallas Police department is facing a crisis as dozens of experienced officers rush to take early retirement because the city's pension fund is about to run out.

Even the Chief of Police David Brown has handed in his notice and will retire early next month after the long-term viability of the pot was damaged by high-risk investments.

Sep 26 06:41

Germany's BIGGEST Bank ON BRINK: Deutsche Bank hits RECORD LOW as Merkel rules out bailout

Stock in the bank dived by more than six per cent during Monday morning trading, after the German Chancellor Angela Merkel reportedly said the government would NOT step in to provide state rescue of the country's financial firms should they need it.

Panicked investors rushed to dump shares in Deutsche off the back of the news, sending prices to their lowest level since 1992.

The German lender is looking increasingly fragile amid this latest setback.

Sep 25 20:08

Insider Warren Buffet Knows A Massive Crash Is Coming: “Has $70 Billion On The Sidelines… Clearly Anticipating The Biggest Buying Opportunity Of His Life”

Buffet has joined other billionaires in recent months to sit on the sidelines and wait for the crash that everyone knows is coming. And given that these insiders have essentially pulled the majority of their money out of risky markets with many shifting to collapse-proof assets like gold and silver, we must be very close to widespread financial and economic disaster.

Sep 25 17:49

THE FED TO HOLD THE HANDS OF ALL U.S. BANKS

Sep 25 16:02

Scott Adams: Why I Switched My Endorsement from Clinton to Trump

As most of you know, I had been endorsing Hillary Clinton for president, for my personal safety, because I live in California. It isn’t safe to be a Trump supporter where I live. And it’s bad for business too. But recently I switched my endorsement to Trump, and I owe you an explanation. So here it goes.

Sep 25 09:39

THE MONEY IS GONE

And the implosion of Best Rate Travel, given the lock-up period, shouldn’t have occurred. DiIorio wanted to understand what really happened to crush his investment so completely. And he had the background in financial market analysis to see it through.

So DiIorio started learning what firms traded Best Rate Travel. The biggest two by far were the giant Swiss bank UBS and a massive New Jersey-based company named Knight Capital.

He thought these were very big names to be involved in such an obscure penny stock.

Webmaster's Commentary: 

Sep 25 09:20

Merkel Rules Out Bailout For Deutsche Bank: Depositor Bail-In Coming Up?

On April 23, Deutsche Bank was Fined $2.5 Billion over LIBOR rate rigging. Twenty-one people face criminal charges following a seven-year investigation.

On September 16, the US Department of Justice Fined Deutsche Bank $14B for mortgage securities fraud leading up to the 2007-2009 global meltdown.

Today, German Chancellor Angela Merkel Ruled Out Assistance for Deutsche Bank.

Webmaster's Commentary: 

If you have an account with Deutsche Bank, you need to empty it out and take your money home with you, because a Cyprus-style "haircut" is the next step.

Sep 25 08:56

TPP Will Effectively Kill Climate Treaties

The Trans-Pacific Partnership will undermine the ability of countries to control polluting and extractive industries, says Ben Lilliston

Sep 25 07:41

FLASHBACK - America Vanquished, Part 1: America as an Israeli Colony, by Dr Lasha Darkmoon

“I don’t care if Americans think we’re running the news media, Hollywood, Wall Street or the government,” Jewish columnist Joel Stein wrote in the Los Angeles Times in December 2008. “I just care that we get to keep running them.”

Mr Stein’s reckless candor in admitting that the Jews ran America was to cost him his job at the LA Times.

If Americans have lost their country to organized Jewry, they lost it slowly and imperceptibly. Indeed, most Americans remain unaware that their country no longer belongs to them. They fervently believe they still live in a democracy. This was a takeover not without precedent, however. It had happened to Germany. It had happened to Russia. It has now happened to America.

Sep 25 06:02

You’re Focusing on the Wrong Interest Rate

Sep 24 16:07

Joe Salerno: Economics is Broken

Sep 24 12:10

JANET YELLEN IS BLOWING BUBBLES

Sep 24 10:11

Inflationomics: The Other New Central Bank Policy To Save The Economy

By John Schroder

There is an old saying that ignorance is bliss. Indeed that may be true. The uninformed, those who pay no attention to what is going on both economically and politically probably are quite content being oblivious to it all. However, in my case, I cannot help but be perturbed as to the track being taken in terms of current policies adopted by the central banks (and politicians) in the developed nations, which primarily includes Europe, The United States and Japan. And never in my entire adult life has any central bank professed to actually want inflation as they do now. On the contrary, zero inflation and a stable economy was always supposedly the intended preference. But not any more, inflationomics is now the other new goal of these wizards of modern economic alchemy (helicopter money being the other policy currently being touted in a recent rash of sales pitches, the metaphorical raising the flag up the pole to see if it catches wind)...

Sep 24 10:01

Finally the Russians Have Caught On That Negotiation with Washington Is Pointless

No more provocations from Washington. Period. The insanity must stop. Now.

If the dumbshit Western peoples and the corrupt EU, UK, Canadian, Japanese, and Australian political puppets don’t wake up ASAP, war will be upon us, a war that cannot be won.

The criminal neoconservatives must immediately be removed from power in Washington before the insane fools start World War 3.

The CIA and the Pentagon must be put under tight constraints. And Donald Trump needs a massive trustworthy security guard.

The European governments need to immediately disband the NATO alliance.

Sep 24 10:00

This Is Why the Middle Class Is Dying

Sep 24 09:47

How Trump Wins the Debate

Trump has the same imperative and same opportunity as JFK and Reagan.

He has to meet and exceed expectations, which are not terribly high. He has to convince a plurality of voters, who seem prepared to vote for him, that he’s not a terrible risk, and that he will be a president of whom they can be proud.

He has to show the country a Trump that contradicts the caricature created by those who dominate our politics, culture and press.

The Trump on stage at Hofstra University will have 90 minutes to show that the malicious cartoon of Donald Trump is a libelous lie.

Sep 24 09:14

‘Made in China’ US military boots a boon for Donald Trump

Our brave soldiers are wearing boots that - instead of being 100 percent American-made - seem to be imported from China and at the tax-payers’ expense. This news could not have come at a worst time, Lionel, political and media analyst, told RT.

Wellco Enterprises has sold thousands of boots worth millions of dollars to the US military for decades.

It turns out, however, the famous 'Made in USA' military footwear might actually be coming from China. Wellco stands accused of allegedly removing 'Made in China' labels from its products.

And with the presidential elections just around the corner, media and political analyst Lionel says this scandal could not have happened at a better time for Republican candidate Donald Trump.

Sep 24 08:59

The Pension Crisis is Global

The worldwide pension crisis is the next great notch in the belt of the collapse of socialism. If anyone in the private sector promised workers pensions and did not fund them, they would go to jail and be labelled as a fraud. Yet, this is standard operating procedure for government. Government claims to be some hero for reforming a Ponzi scheme and expects to be hailed by the media whom typically gives them a gold star.

Sep 24 08:26

Wells Fargo Sued Over Firings for Missed Account Quotas

Wells Fargo & Co. managers were accused of fueling the creation of bogus accounts in what may be the first lawsuit by fired or demoted employees since the bank was called out by regulators.

Sep 24 08:23

This Chart Shows The Staggering Hourly Cost Of Operating US Military Aircraft

The US military is set replace many of its aircraft with planes that cost substantially more to operate by the hour.

James Fallows, a national correspondent for The Atlantic, noted in a recent cover story for the magazine that costly military projects of questionable worth are becoming increasingly spread throughout congressional districts across the country. This means that projects such as the astronomically expensive F-35 become too politically sensitive to ever cancel, even if the planes themselves aren't cost-effective once they make it to the air.

The following graphic, courtesy of The Atlantic, highlights the disparity in flight hour costs for various aircraft in the US fleet.

Sep 24 08:02

World Bank Chief: Sweden Should Create Independent Migrant State Where Laws Don’t Apply

Sweden could solve their migrant problem by creating a new state-within-a-state where national laws don’t apply and sending thousands of migrants and so-called refugees there, the incoming chief economist of the influential World Bank has said. Paul Romer, director of New York University’s Stern School of Business Urbanisation Project, made the remarks about his unusual approach to Sweden’s migrant crisis this week in an interview with the national newspaper Dagens Nyhter. Suggesting the zone could model itself on British Hong Kong, the senior economist said it could bring enormous benefit at no cost to the taxpayer.

Sep 24 07:40

Erdogan doesn’t care if Turkey gets junk credit rating

Turkish President Recep Tayyip Erdogan said he is not concerned if American rating agencies like Fitch, S&P or Moody’s downgrade his country to junk status. Erdogan told Bloomberg that Turkey's economy is strong and the ratings are biased.

Sep 24 07:39

No EU-US TTIP trade deal before Obama leaves office: EU

A last-gasp push to seal a landmark free trade deal between the European Union and the United States before the end of Barack Obama’s presidency has failed, EU ministers agreed on Friday.

Sep 24 07:11

Ukraine Becoming Poorest Country in Europe Amid IMF-Mandated Austerity

Starting in 2017, Ukraine will have the lowest official salaries in Europe, according to calculations by lawmaker Oleksander Vilkul. Meanwhile, Ukrainian politicians and economists have begun investigating the conditions attached to the IMF's recent $1 billion loan tranche, and are discovering that more austerity reforms are the order of the day.

Webmaster's Commentary: 

Because that is what IMF does; make countries poor and banks rich!

Sep 23 20:55

Scott Adams: I Hereby Switch My Endorsement from Clinton to Trump.

Threatening one's livelihood and wealth is very persuasive.

Sep 23 16:52

Apple Tumbles After Channel Checks Reveal iPhone 7 Exuberance Misplaced

Despite exuberance from the wireless service providers, it appears channel checks from Germany's GfK, Germany's largest market research institute, show things for the iPhone7 are not as great as the carriers would like the world to believe.According to a GfK note, AAPL iPhone units shows that launch weekend sales for iPhone 7 and 7 Plus were down by ~25% Y/Y compared to the first weekend of the 6S and 6Plus.

Sep 23 11:17

Gallup: If small businesses keep dying “We’ll lose the whole middle class”

Did America ever truly “recover”? Officially, yes. We are in the greatest, and most transparent recovery of all time.

Sep 23 10:55

House Panel: ‘Reboot’ of US Military to Cost $1 Trillion Over Next Decade

With officials constantly looking for new ways to add even more spending to the Pentagon’s annual budget, all the while griping about the spending caps they never respect in the first place, the House Armed Services Committee is laying out a ridiculously expensive scheme to “reboot” the entire military.

Panel members insist that 15 years of non-stop war has, despite that same period being loaded with record budgets, pushed the military to its limit, and that the new plan is needed, which will take a decade and cost an addition $1 trillion, above and beyond the already massive amounts being spent.

Hawks on the panel insist that the massive new scheme is needed because the military is “unready” to fight a major war with either Russia or China, despite the $1 trillion by itself likely to be well more than either nation spends in that time.

Webmaster's Commentary: 

Congress spends like a drunken sailor on our military equipment, but doesn't spend smart.

Because of the incestuous relationship between Congressional representatives who award military contracts, and those defense industry corporations, which "grease the wheels" with generous contributions to said Congressional representatives, the following things happen:

1. Products absolutely do not perform as promised.

2. When those weapons arrive, they arrive so late as to be obsolete before even being put into service.

3. There are huge cost over-runs, which the government is forced to pay for.

Before Congress spends one more dime on military hardware and software, these problems have to be fixed, period, end of discussion.

All those who read this blog understand that I abhor war as a way though which the US government resolves its geopolitical disagreements; that being said, when conflict comes, I want to be assured that our military personnel have the best, and most current weapons available.

And by not fixing its weapons procurement process, Congress is completely short-changing every military personnel in uniform, and THAT...bites!!

Sep 23 10:18

German Politicians Are Getting Nervous About Deutsche Bank

Just a few short days after Germany's premier financial publication Handelsblatt dared to utter the "n"-word, when it said that in the aftermath of last week's striking $14 billion DOJ settlement proposal, "some have even raised the possibility of a government bailout of Germany’s largest bank, which would be a defining event and a symbolic blow to the image of Europe’s largest economy", German lawmakers are finally starting to get nervous.

According to Bloomberg, Deutsche Bank’s suddenly troubling finances, impacted by the bank's low profitability courtesy of the ECB's NIRP policy as well as mounting legal costs courtesy of years of legal violations, "are raising concern among German politicians." At a closed session of Social Democratic finance lawmakers on Tuesday, Deutsche Bank’s woes came up alongside a debate over Basel financial rules. Participants discussed the U.S. fine and the financial reserves at Deutsche Bank’s disposal if it had to cover the full amount.

Webmaster's Commentary: 

Under fascism, the poor are made to prop up the rich.

Sep 23 10:13

Russia's Grain May Soon Bring in More Gold Than Oil

Amid a record-setting harvest, Russia's agricultural sector is giving the Russian economy a powerful and much-needed boost; according to some observers, the sector even has the potential to gradually wean the country off its dependence on the export of hydrocarbons.

Webmaster's Commentary: 

And because Russia has banned GMOs, the whole world is their customer!

Sep 23 10:10

SWEDEN IN CHAOS: Number of ‘no-go zones’ INCREASED as police lose control over violence

SWEDISH police are losing the battle against increasing levels crime and violence in the country as now 55 areas have been labelled as "no-go" zones.

In February Express.co.uk reported the Scandinavian country has seen a huge surge in crime since the start of the migrants crisis in Europe with a rise in sex assaults, drug dealing and children carrying weapons.

The force’s increased lack of control in the country was revealed in a report by Sweden's National Criminal Investigation Service, where attacks on officers were detailed, including police cars being stoned by masked groups.

At the time around 50 areas were put on a "blacklist" which are then divided into three categories from "risk areas" to "seriously vulnerable".

Webmaster's Commentary: 

What we are going to see, in Sweden and elsewhere in Europe, is a massive right-turn in elected governments, which are going to want to deport as many immigrants as possible living here.

I think that the immigrants causing the troubles should be placed on every European politicians' doorstep, so that they and their families can become as "culturally enriched" as have the rest of their citizens.

Millions of immigrants, with no job or language skills; what could possibly go wrong?!?!?

Sep 23 10:05

Living In A Van Down By The River – Time To Face The True State Of The Middle Class In America

Do you remember the old Saturday Night Live sketches in which comedian Chris Farley portrayed a motivational speaker that lived in a van down by the river? Unfortunately, this is becoming a reality for way too many Americans.

As the middle class has shrunk and the cost of living has increased, a lot of people have decided to quite literally “live on the road”. Whether it is a car, a truck, a van, a bus or an RV, an increasing number of Americans are using their vehicles as their homes. Just recently, someone that I know took a trip down the west coast of the United States and stayed at a number of campgrounds along the way. What she discovered was that a lot of people were actually living at these campgrounds. Of course there are some that actually prefer that lifestyle, but many others are doing it out of necessity.

Webmaster's Commentary: 

Welcome to the "Obamaconomy", where the 1 percenters become even more rich, while many of the rest of us are economically forced out of permanent housing!!

Sep 23 10:04

US allows Airbus, Boeing to sell aircraft to Iran

Iran Air looks to replace aging passenger fleet as sanctions are lifted, deals may reach over $42 billion

Sep 23 08:35

OBAMA: AMERICA MUST SURRENDER SOVEREIGNTY, EMBRACE ONE WORLD GOVERNMENT

Earlier this week Barack Obama delivered his final United Nations speech.

In addition to praising the bankster loan shark operations run out of the World Bank and the International Monetary Fund, Obama called for “global integration,” code for a one-world government.

“I believe that at this moment we all face a choice. We can choose to press forward with a better model of cooperation and integration. Or we can retreat into a world sharply divided, and ultimately in conflict, along age-old lines of nation and tribe and race and religion,” he said.

In short, Obama has renewed the call to end national sovereignty.

Webmaster's Commentary: 

A memo to President Obama: globalization is great for the one percenters, but extraordinarily lousy for We the People.

You have won the approval of your Corporate Masters, and the offshoring/outsourcing of American jobs continues to gut the middle class in this country, which is precisely the design objective of the process.

Homelessness and hunger abound in this country, particularly in its urban areas:

America’s Tent Cities for the Homeless

The poverty level in this country has broken a 50 year record in 2014, sir, under your watch:

That’s rich: Poverty level under Obama breaks 50-year record

And as of the end of 2015, the problem has not changed much.

America’s Poverty Problem Hasn’t Changed

And although you allege, in the highly, almost laughably fictional, statistics from the Department of Labor,that unemployment is running around 5% in this country, what about the 94 plus million Americans who cannot find jobs, because they have been allegedly "out of work too long to count" in these numbers?!?

Record 94,708,000 Americans Not in Labor Force; Participation Rate Drops in May

You're pushing for the Lame Duck Congress to pass the PPT at the end of this year. How is that going to affect American jobs, sir?!? Because the PPT allows for the following:

Obama Moves to Include Countries Still Practicing Slavery in Corporate Trade Deal

SIR, REALLY?!?!?!?

Is this how much you hate the middle, working class of this country, that you are so desperate to please your Corporate Masters by pressuring Congress to sign off on a trade deal where Americans are competing with slave labor, in the countries mentioned in this article?!?

Because, sir, it sure as hell looks like it from here.

Globalism is great for the money junkies, but pretty damned despicable for the rest of us.

Sep 23 08:29

Fritz Springmeier Just Announced He Has Inside Info That the IMF Will Announce a New Global Currency on Sept 30th

THE DOLLAR’S STATUS AS THE WORLD’S RESERVE CURRENCY, what some call the petrodollar. Because large deals between nations are done in dollars, it can be said that 85% of global transactions are done in U.S. dollars. I have explained many times that our dollar’s VIP status globally has allowed the U.S. to create as many dollars out of thin air that it wants without destroying the dollar’s value–inflating the supply of money is simply a global tax on everyone who holds dollars, and more dollars are held by foreigners overseas than by Americans.

In other words, we have been getting a free ride. I have repeatedly discussed the moves behind the scenes to dethrone the dollar. Russia & China has been working behind the scenes to get the entire world to desert us. They have also been buying up high levels of gold. Now that moment that we have wondered about is actually upon us…the date is Sept. 30, 2016, when the IMF has plans to announce a “world money”.

Webmaster's Commentary: 

Sep 23 08:24

What If We're In A Depression But Don't Know It?

If it isn't a Depression, it's a very close relative of a Depression.

Just for the sake of argument, let's ask: what if we're in a Depression but don't know it? How could we possibly be in a Depression and not know it, you ask? Well, there are several ways we could be in a Depression and not know it:

1. The official statistics for "growth" (GDP), inflation, unemployment, and household income/ wealth have been engineered to mask the reality

2. The top 5% of households that dominate government, Corporate America, finance, the Deep State and the media have been doing extraordinarily well during the past eight years of stock market bubble (oops, I mean boom) and "recovery," and so they report that the economy is doing splendidly because they've done splendidly.

Sep 23 08:00

EU TIMEBOMB: Business growth hits 20-MONTH low as German economy outlook WORSENS

EUROPE'S economy growth has dived to its lowest level in almost two years, as Germany's tumbling output takes its toll.

Sep 23 07:59

UN WARNS NEXT GLOBAL FINANCIAL CRISIS MAY INCLUDE HUGE DEBT DEFAULTS

If the global economy enters a new economic crisis it may lead to epic debt defaults, according to trade economists at the United Nations.

“As capital begins to flow out, there is now a real danger of entering a third phase of the financial crisis which began in the United States housing market in late 2007 before spreading to the European sovereign bond market,” the annual report of the UN Conference on Trade and Development (UNCTAD).

Following the 2008-2009 crisis, developing countries faced a huge influx of cheap credit. The process was heated by quantitative easing programs in the developed nations.

“Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” the report says. Under the conditions of slowing global GDP the debt is likely not to be redeemed.

Webmaster's Commentary: 

What this article does not mention is the trillions in derivatives which may completely collapse, during such a downturn.

Sep 23 07:56

Facebook, Twitter Under Pressure After Reports Of Ad Data Rigging, Stock Downgrade

Social media shares are not "liking" their stock price this morning, with both Facebook and Twitter under pressure, the former on a WSJ report that the company has been inflating the amount of time users spend watching video ads by 60-80%, the latter on an RCB downgrade to "underperform" with a $14 price target.

Sep 23 07:07

Korean cargo line bailout saves Christmas for tech companies

HP and Samsung had goods stranded at sea by container line's bankruptcy

Sep 22 17:45

Bulls vs. Bears: A War Rages in Real Estate

Sep 22 17:01

How To Take On The Banksters

Senator Elizabeth Warren took Wells Fargo CEO John Stumpf to task yesterday, and she pointed out that nothing will change on Wall Street or in the boardrooms of th US’s banks until we start prosecuting executives who oversee fraud.

She’s right, but to avoid scandals like this one, we also need to fundamentally change the way that corporate executives get paid.

Sep 22 12:28

In Dramatic Twist, Wells Fargo Said To Retaliate, Fire Whistleblowers Who Exposed Bank's Illegal Practices

While the recent congressional hearing targeting John Stumpf, in which Elizabeth Warren suggested he should resign and be criminally charged, was nothing more than a "kangaroo court" meant to refocus public anger on banks, with good reason, the reason why we concluded that nothing would actually change is that ultimately there was no evidence the bank's executive management was aware of the bank's illegal, fraudulent tactics involving the creation of some 2 million fake customer accounts to "sandbag" retail banking fees. That assumption, however, may need revision now that CNN reports that it has heard from former Wells Fargo workers - some of whom were named - around the country, who tried to put a stop to the bank's illegal tactics only to be met with harsh, prompt and severe retaliation by the bank.

Sep 22 12:28

Monte Paschi Rescue On The Rocks: Regulators Now "Expect Bank To Ask Italy For Bailout"

Ever since two months ago, when Italy's third largest bank - and the world's oldest - Sienna's Monte dei Paschi, failed Europe's latest stress test, it had scrambled, and assured markets, that it would obtain a private sector cash injection, aka bailout, amounting to roughly €5 billion in fresh capital, there was significant speculation in the Italian press that the capital raise was not going well as third party investors were uncomfortable to allocate funds to a bank whose history of failure and unprecedented bad NPL book remained a daunting obstacle. The reason why Monte Paschi was forced to seek a private sector bailout is that Germany had repeatedly shut down Italian PM Matteo Renzi's attempts to pursue a public sector bailout.

Sep 22 11:50

Yellen To Trump: The Fed Is Above The President

Welcome to New World Next Week — the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news. After Rate Hike Fake Out, Yellen Responds To Trump and Clinton Tells Trump to Shut Up on Federal Reserve.

Sep 22 11:19

Foreign Affairs Magazine Suffers Substantially in the ‘Net Era

ISIS, like Al Qaeda before it, was a creation of the West. The City’s banking elites in particular funded modern “terrorism” in order to create an enemy for the West to fight against. (All Wars Are Bankers’ Wars.)

Webmaster's Commentary: 

My vanity runneth over!

Sep 22 10:58

Michigan Leads Nation In Denying Child Care To Low-Income Families

The cost of child care is one of the biggest expenses facing many families in the United States. For some, the cost is more than their rent or mortgage payment. Low income families especially struggle to find affordable child care.

Sep 22 09:22

The Economic Resurrection Of China

In Part 1, I interviewed Jeff Brown, author of 44 Days Backpacking in China and the recently published China Rising, to get a perspective from an American ex-pat who has lived in, deeply studied China, and learned Mandarin.

Sep 22 08:39

Scandal-hit US bank Wells Fargo is fined by regulators and humiliated by senators

The venerable Wells Fargo bank has been hit by a record fine from regulators, while its chief executive was humiliated by the Senate this week. It has been a bad summer for the $231bn (£176bn) bank that calls itself a "community-based financial services company".

Why was the head of Wells Fargo bank called 'gutless' in the US Senate this week?

Wells Fargo chief executive John Stumpf appeared before the Senate banking committee on Tuesday (20 September) to account for his firm's handling of its bogus accounts scandal that led to it being fined a record $185m (£142m) earlier this month and accused of "widespread illegal practice" by regulators.

Sep 22 08:09

As China prepares to announce their gold reserve amount by end of the month, debate over gold backed Yuan increases sharply

As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30. And with them also recently being appointed the managers of the M SDR internationalization program, debate over China implementing a gold backed currency is once again increasing at an accelerating rate.

Sep 22 07:53

When Bill Clinton accidentally told the truth

A few years ago, Billy Bob Clinton was asked if he made any mistakes during his reign.

He responded with a somewhat intelligent answer that basically said: "Unregulated derivatives were a bad idea."

A few days later, his handlers got on board and "clarified" his loose cannon truth telling.

Sep 22 07:44

UN fears third leg of the global financial crisis - with prospect of epic debt defaults

The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history.

It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity.

"Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out," said the annual report of the UN Conference on Trade and Development (UNCTAD).

Webmaster's Commentary: 

Sep 22 07:14

UN's “New Urban Agenda” to Assault Liberty in a City Near You

With its “New Urban Agenda” set to be formally adopted by dictators and member governments next month, the United Nations is plotting its latest monumental assault on private property, the free enterprise system, national sovereignty, and human liberty. Taken as a whole, the UN's radical new plan outlines a vision of an Orwellian world order of centrally planned, “compact” mega-cities run and guided by UN dictates and under total surveillance. Despite all the nice-sounding rhetoric about “equality” and “prosperity,” the text of the document also demands policies that have been repeatedly proven to cause misery, inequality, poverty, and death. Humanity should resist.

Sep 22 07:13

Fed leaves interest rate unchanged

Federal Reserve Chair Janet Yellen said the Federal Open Markets Committee will keep the Federal Funds rate at its current level, but says the case for an increase has strengthened.

Webmaster's Commentary: 

Yellen just saved Hillary. A rate increase before the election would favor Trump.

Sep 22 06:42

Gallup: If Small Businesses Keep Dying “We’ll Lose the Whole Middle Class”

Citing statistics that show a precipitous decline in the comfortable status of “middle class,” Gallup CEO Jim Clifton explained how government/economic interference is killing small businesses and people who used to be employed by them.

The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today.

There are three serious metrics that need to be turned around or we’ll lose the whole middle class.

Read more at SHTF

Sep 21 17:03

European Bank Woes Resurface

Sep 21 16:05

34% Have $0 In Savings: Americans' Money Habits Go 'From Bad To Worse', Report Finds

Americans are dipping into their savings, if they have any, even more than they did last year, a new survey finds. Nearly 70 percent of Americans report having less than $1,000 in savings, and the pattern touches all age groups.

Even those making $100,000 to $149,999 a year had less than $1,000 or nothing at all in savings 44 percent of the time, according to GoBankingRates.com, which released its findings Monday.

Sep 21 14:29

"Deutsche Bank May Ultimately Need A State Bailout" - Handelsblatt

While the most recent set of troubles plaguing Deutsche Bank have been duly documented here, most recently yesterday when the stock price tumbled once again just shy of all time lows over fears the bank's multi-billion DOJ settlement could severely impact its liquidity and/or solvency, this may be the first time we have heard the "n"-word tossed around in an official German publication: as Germany's top financial newspaper, Handelsblatt said, "German financial officials reacted with shock and dismay to the leaking of a U.S. government demand for a $14 billion fine against Deutsche Bank, which may ultimately need a state bailout to pay the bill."

Sep 21 14:29

JPM Downgrades Wells Fargo; Expects More Probes "Following Tough Senate Hearings"

One day after what was a rather disastrous hearing for Wells CEO John Stumpf, which culminated with a Senator telling the embattled chief executive he may want to consider going to prison, the bad news continued overnight when the bank that overtook Wells in the "biggest US bank by market cap" category, JPMorgan, downgraded Wells to Netural, cutting its price target from $53.50 to $48.00 as a result of "tough Senate hearings and mounting public scrutiny following the opening of fraudulent accounts" and because the "senate hearings are likely to expand probes."

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