ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 15 16:45

Telecoms giant Ericsson plans cut 4,000 jobs

Jun 15 16:30

The Rush to Gold: A New Respect Is Growing

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Jun 15 15:56

Six Fed Officials See Just One Hike This Year

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Jun 15 15:40

London traders brace for biggest night since 'Black Wednesday'

The world's biggest banks including Citi and Goldman Sachs will draft in senior traders to work through the night following Britain's referendum on EU membership, set to be among the most volatile 24 hours for markets in a quarter of a century.

Jun 15 15:27

You Tube Begins Economic Blacklisting

Jun 15 15:26

Neiman Marcus profits plummet 81%

Jun 15 15:24

Scaremonger Alert! Brexit would trigger tax hikes, spending cuts: Osborne

British Finance Minister George Osborne has warned that Brexit would trigger tax hikes and spending cuts across the UK.

Osborne, who is campaigning for Britain to remain in the EU, made the remarks Wednesday as stock markets plunged on the prospect of Brexit.

Jun 15 15:17

Basic Income: The Silence In The Noise

Take Lawrence H. Summers, former (“we are all Friedmanites”) Treasury Secretary and once top economic adviser to President Obama. He told an audience at the Brookings Institution at the end of May that a universal basic income is, “one of those ideas that the longer you look at it, the less enthusiastic you become”.

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Jun 15 15:07

Osborne's 'punishment Budget' is economic vandalism

George Osborne is disqualified from serving as Chancellor of the Exchequer for a single week longer.

Whatever his past contributions, his threat to push through draconian fiscal tightening in an emergency Brexit budget is economic madness, if not criminal incompetence.

Such action would leverage and compound the financial shock of Brexit, and would risk pushing the country into a depression. It violates the known tenets of macro-economics, whether you are Keynesian or not.

Jun 15 15:04

Bubble News From The Nosebleed Section

Jun 15 14:53

Wall Street Falls

Wall Street falls as Fed holds steady and Brexit vote looms

Wall Street fell for a fifth straight session on Wednesday after the Federal Reserve left interest rates unchanged and investors stewed over an impending vote in Britain on whether to leave the European Union.

Major U.S. stock indexes spent most of the day with gains but abruptly fell late in the session, bringing the S&P 500's loss in the past week to 2.2 percent, in large part because of fears that a fractured EU could critically damage an already feeble global economy.

It was the S&P 500's longest losing streak since the five-day decline that culminated in its 2016 low on Feb. 11.

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Jun 15 14:41

Fed tells market: We're taking summer off

Fed tells market: We're taking summer off

(*before the excrement hits the air circulation device .)

Jun 15 14:33

GE Appliances plans to close Bloomington refrigerator plant

The Bloomington (*Indiana) GE plant is closing, which will cost 329 Hoosiers their jobs, according to a company press release.

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Jun 15 14:20

STOCKS FALL

FED DOES NOTHING, STOCKS FALL INTO THE CLOSE: Here's what you need to know
***The big movers were Treasuries and gold, both of which rallied.

Dow: 17,640.2, -34.7, (-0.2%)
S&P 500: 2,071.5, -3.8, (-0.2%)
Nasdaq: 4,834.9, -8.6, (-0.2%)
WTI crude oil: $47.50, -2.1%
10-year Treasury: 1.58%
Gold: $1,296, +0.7%

Federal Reserve

The Fed did nothing.
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Jun 15 13:31

Report: New evidence of rising 'Obamacare' premiums

Premiums for popular low-cost medical plans under the federal health care law are expected to go up an average of 11 percent next year, said a study that reinforced reports of sharp increases around the country in election season.

Jun 15 13:30

Bank Of America Set To Fire 8,000 As Banker Layoffs Accelerate

The bank has already slashed headcount by more than 10,000 in 2015, and has cut almost 40,000 from its consumer division alone since 2009 (bringing the total at the end of Q1 to 68,400). The layoffs are in line with what has been happening to its retail branch count, which has fallen by about 1,400 over the past seven years. Thong Nguyen, president of retail banking told a conference in New York this week that the numbers would "probably go down to the low 60s", implying as many as 8,000 layoffs are on the horizon.

Jun 15 12:41

BREXIT, German Yields Scare Markets

Jun 15 12:27

“This Market Is Ready to Blow…”

Jun 15 12:26

L.A. County supervisors call for a state emergency declaration on homelessness

Los Angeles County supervisors voted unanimously Tuesday to call for a state declaration of emergency on California’s homeless crisis.

The county’s homeless population was about 47,000 as of this year’s count by the Los Angeles Homeless Services Authority. There were an estimated 115,738 people homeless statewide in 2015.

County officials have been lobbying, so far without success, for a change in state law that would grant the county authority to seek a special tax on incomes over $1 million to pay for programs to address homelessness.

Jun 15 09:15

IT’S LIFEBOAT TIME — David Jensen

Jun 15 09:07

REPORT: Fewer teens than ever work summer jobs

Jun 15 09:07

Russia Number One World Wheat Exporter

One of the comments most often heard by western mainstream economists is that Russia’s economy is too dependent on energy export and not able to be competitive in areas other than simple commodity export. While oil and gas exports remain a vital source of revenue for the State, it is far from the only one. Owing to USA and EU economic sanctions targeting the energy sector of Russia in 2014, in August 2014 the Kremlin retaliated with sanctions on a large range of EU and US food imports. Some months later in November 2015 after Turkey shot a Russian jet down over Syrian airspace, Moscow also banned major food imports from Turkey, especially tomatoes and cucumbers. The sharp reduction of food imports and select government agriculture incentives have resulted in a dramatic rise in Russian agriculture output.

Webmaster's Commentary: 

A big reason is that Russia refuses to allow GMO (no doubt one of the reasons the US wants to attack them) and people/nations wanting safe healthy food are flocking to their doors!

Jun 15 08:56

New Intl Gold Order

Jun 15 08:07

France Begin Mass Arrests Amid Huge Revolution

French authorities have begun the mass arrests of protestors taking part in what some are calling the biggest revolution in France for 200 years.

Webmaster's Commentary: 

That is only going to make things worse, by sending a signal that government is more concerned with the banks than with the people; a sentiment remembered from the time of Louis XVI!

Jun 15 08:02

Nigel Farage, His words are coming true!


Nigel Farage , He’s been fighting the Eurozone concept for years, the fact it’s trapped people and indebted countries, The European Commission Greece trapped Article 121 Millions of people will feel the pain Boom & Bust, Undemocratic The model is failing it’s a Euro Debt Union

Jun 15 08:02

Banking behind Housing Crisis | Toby Lloyd

Jun 15 07:09

*****What I have been afraid to blog about: THE ESF AND ITS HISTORY (Part 1-5)*****

It is impossible to understand the world today without knowing what the Treasury's Exchange Stabilization Fund is and what it has been doing. Officially in charge of defending the dollar, the ESF is the government agency which controls the New York Fed, runs the CIA's black budget, and is the architect of the world's monetary system (IMF, World Bank, etc). ESF financing (through the OSS and then the CIA) built up the worldwide propaganda network which has so badly distorted history today (including erasing awareness of its existence from popular consciousness). It has been directly involved in virtually every major US fraud/scandal since its creation in 1934: the London gold pool, the Kennedy assassinations, Iran-Contra, CIA drug trafficking, HIV, and worse...

These five videos are the "answer" I have arrived at after three years of blogging on MarketSkeptics.com. They took me a month and a half to make (and months of research). You will not find the material covered anywhere else.

Jun 15 06:54

U.S. government bond next to go subzero?

Jun 15 02:06

An Unprecedented Jump In The VIX

Jun 15 01:49

JOHN MAULDIN: It's 2000 All Over Again

Jun 15 01:23

Chinese Strategic Oil Reserves Almost Full

Jun 14 18:51

Praying it will work? Chancellor plotting 'punishment' Budget with THREAT 'to add 2p to income tax' and increase death duty, booze and fuel costs

A 'panicked' George Osborne has made an extraordinary threat to hike income tax by 2p in an 'emergency Budget' if Britain votes to quit the EU.

The Chancellor also warned of an increase in inheritance tax, a rise in the duty on alcohol and petrol and cuts to the police, the NHS, pensions and defence – though foreign aid would not be touched.

Furious Tory MPs said his plans for a 'punishment Budget' would be rejected by MPs on both sides of the Commons and he was taking the public for fools.

Jun 14 16:21

Iconic Manhattan store to close after 126 years

Jun 14 15:59

Flashback: How much extra did the UK have to pay the EU?

At the moment the UK is £1.9bn out of pocket, with the promise of further rebates and repayments.

All this reveals the complexity of EU affairs, and the fact that even a Eurosceptic government with no wish to pay any extra ends up having to pay something all the time it is a member of the EU.

Jun 14 15:56

Flashback - Price for rejecting refugees: €250,000 per head

The European Commission on Wednesday proposed a new system for enforcing the relocation of migrants around the EU, giving countries that refuse to accept refugees an expensive “pay-to-not-play” option.

The measure, which would set a price of €250,000 per migrant for countries that want to avoid EU-imposed quotas for the resettlement of asylum-seekers, is part of a raft of new proposals aimed at rebooting the EU’s beleaguered strategy for dealing with the migration crisis.

Jun 14 15:47

Flashback: FURY over £74MILLION wage rise for EU chiefs - funded by OUR taxes

All 55,000 Brussels civil servants are to benefit from the 2.4 per cent salary hike, backdated to July.

This is despite a year marked by a shambolic reaction to the migrant crisis and the stuttering economic performance of the eurozone.

European Commission President Jean-Claude Juncker will get an extra £8,300 next year.

His basic salary will rise to £230,490.68 plus a residence allowance of £34,573.56 to cover the cost of accommodation in Brussels and annual expenses of £12,490.56.

Mr Juncker’s basic pay is 60 per cent higher than the £142,500 annual salary earned by David Cameron.

The commission president is among 10,000 Brussels officials who earn more than the Prime Minister.

Jun 14 15:37

2016 ECONOMY is on the BRINK! Prepping!

Jun 14 15:00

Pensions Continue to Spiral Downward

Jun 14 12:10

CHAOS ERUPTS IN PARIS AS RIOT POLICE UNLEASH ON 50,000-STRONG LABOR PROTEST

French police unleashed tear gas and water cannons on demonstrators Tuesday as tens of thousands packed the streets of Paris in an outpouring of opposition to the government's anti-labor agenda.

The CGT labor union, which helped organized the march, hoped Tuesday's mobilization would be the largest since protests launched over new labor standards, which allow employers to more easily fire workers and create precarious, lower paid positions in place of permanent contracts.

"I’ve been to all the demos since March because I want to live in dignity, not just survive," Aurelien Boukelmoune, a 26-year-old technician, told AFP in Paris. "I want the reforms to be withdrawn, pure and simple. Only then will it stop. For the government's sake, they should withdraw the law, otherwise we'll block the economy."

Jun 14 11:36

At least 40 injured, 58 arrested in Paris anti-labor reform protests – police

At least 40 people, including 29 officers, were injured as protesters against France’s highly unpopular proposed labor law clashed with police in Paris. Police made 58 arrests and deployed tear gas and water cannons against the demonstrators.

Twenty-nine officers and 11 rioters have been injured during clashes in the heart of the French capital, police said.

Security forces deployed six water cannons to calm the demonstrators, at least 58 of whom were detained.

Webmaster's Commentary: 

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

"You WILL love your slavery to the Private Central Banks!"

Jun 14 09:01

GOLDMAN SACHS BRIBED LIBYAN OFFICIALS WITH HOOKERS, PRIVATE JET RIDES, THEN LOST ALL THEIR MONEY

In 2006, western leaders decided that Gaddafi's oil was more important than his human rights record and complicity in terrorism and lifted sanctions against Libya, creating a massive pool of cash for the country that it turned into a sovereign wealth fund whose business was aggressively courted by Goldman Sachs.

Jun 14 08:51

German bonds go negative for first time as investors panic over surge in support for Brexit

Interest rates have fallen to record lows meaning investors are looking for safe havens to park their cash.

As investors flock to place money in German government 10-year bonds their price has risen

The bonds, which are considered a benchmark of financial security, known as Bunds, are now not paying any money back because demand is too high.

Today the Bund yielded minus 0.028 percent - meaning it was costing anyone who held the investment.

Jun 14 07:46

26 injured, 15 arrested in Paris anti-labor reform protests – police

At least 26 people have been injured as protesters against highly-unpopular labor reforms clashed with police in Paris. Officers deployed tear gas against “hooded hooligans,” while nearly 15 people were arrested, police said.
Tens of thousands of people gathered in the center of the French capital on Tuesday, BFMTV reported.

Clashes took place near Port Royal railway station in Paris. Dozens of people, mostly hooded, threw stones and firecrackers at the security forces, who responded with force to disperse the demonstration.

Several people were injured in the clashes. Pictures on social media showed emergency services evacuating the injured.

Webmaster's Commentary: 

"Labor reform" is just "Austerity" in a new wrapper. The message is still the same. "Work harder, give us more money, and don't expect anything in return!"

It's time to update an old reliable tool!


Jun 14 07:15

'BREXIT TSUNAMI' UK exit would cause 'BIG problems' for GERMAN banks, watchdog warns

If Britain votes out of Europe, Germany's biggest banks would suffer a huge hit that would shake the eurozone's financial system to its core, a top policymaker in Frankfurt has admitted.

Jun 14 07:02

A myopic view of Negative Interest Rates

Jun 14 05:24

Tyranny Of The PhDs

Jun 13 18:48

Historic East Cleveland, Ohio: A City In Decline Faces Bankruptcy

Cleveland, the second largest city in the Midwestern state of Ohio, is celebrating the upcoming Republican National Convention as a symbol of the city’s rebirth. In the words of Jon Pinney, general counsel and treasurer of the 2016 RNC Host Committee, the goal is “to reintroduce the city to the world.” The host committee is hoping for an economic bounce of $200 to $400 million from the convention.

Jun 13 18:21

Different Tax Rules For Wealthy And Powerful

Brian Mulroney will surely be best remembered for the suitcase full of thousand dollar bills he received in a New York hotel room.

The riveting image of the former prime minister accepting wads of cash from a notorious lobbyist — admitted by Mulroney under cross-examination at a 2009 public inquiry — was so eye-popping that it completely eclipsed another fascinating aspect of the story: the sweetheart tax deal Mulroney got from the Canada Revenue Agency after he failed to report the cash.

Jun 13 16:44

The Treasury 'grossly exaggerated' the economic and financial impact of Brexit, says academic review - and Cameron and Osborne are 'treating us like children'

Most economic modelling has found that a Brexit vote in the June 23 referendum would make little difference to Britain's economy, the study by the influential Cass Business School concluded.

It said the Government had ignored waves of research in favour of publishing 'highly prejudiced' reports warning the UK would be poorer by £4,300 per household by 2030 and be hit by an immediate recession.

And in a damning verdict on George Osborne's approach to the referendum campaign, author Dr David Blake, a professor of Pension Economics at Cass Business School at City University London, accused the Treasury of becoming a 'propoganda machine' for the EU.

Jun 13 16:21

EVERYTHING BUBBLE

Jun 13 15:45

False flag, blow-back, or incompetence? A FOREX look at Orlando Shooting

This tragic event in Orlando is an opportunity to connect the dots in an ever simple global world; as explained in Splitting Pennies - key to understanding Forex markets and how our global financial system includes understanding international politics, and specifically US foreign policy, and how it is connected to the US Dollar as a world reserve currency. Forex is information brokerage, both as a facilitator and as primary emission of that information. It is by itself, information - as well, those who play 'the great game' use it to execute their strategem.

Jun 13 15:13

Bond Yields Fall As Fears Rise Over Global Economic Growth

Amid rising concerns over global economic growth, global bond prices surged to a record high on Friday in a “flight to safety” as equity markets in Japan and Europe experienced their worst day since the turbulence at the start of the year.

Jun 13 15:04

Trading the Platinum to Gold Ratio

Jun 13 14:57

George Soros Is Preparing For Economic Collapse – Does He Know Something That You Don’t?

Why is George Soros selling stocks, buying gold and making “a series of big, bearish investments”? If things stay relatively stable like they are right now, these moves will likely cost George Soros a tremendous amount of money. But if a major financial crisis is imminent, he stands to make obscene returns. So does George Soros know something that the rest of us do not? Could it be possible that he has spent too much time reading websites such as The Economic Collapse Blog? What are we to make of all of this?

Jun 13 14:43

Stop the Monsanto Doctrine from Poisoning Democracy and Hawaii - Sign the petition

On June 15 a panel of federal judges from the Ninth Circuit Court will meet in Honolulu to hear oral arguments from four important cases that may result in the environmental equivalent of a Citizens United decision.

The appellate court will either uphold or overturn four recent decisions by the lower federal District Court in Hawaii that invalidated the power of county governments to enact laws that protect public health and the environment.

I support the democratic right, and responsibility, of these local governments to protect the people of Hawaii from the impact of hundreds of experimental agrochemical farms across the islands that currently spray huge quantities of hazardous pesticides on genetically modified seed crops.

In cases involving the islands of Kauai and Hawaii a federal judge struck down local government laws that would have required buffer zones to prevent pesticide spraying near schools, and open air genetic engineering experiments that were seen as threatening to local organic agriculture.

Jun 13 14:42

CHART: The next big move in oil is coming

Jun 13 14:28

Tariq Ali: Global Revolt Against Corporate Capitalism & Inequality – ‘On Contact’ With Chris Hedges

In the first episode of ‘On Contact’, host Chris Hedges discusses the global revolt against corporate capitalism with radical intellectual and author Tariq Ali.

Jun 13 13:51

Billionaire George Soros Preparing For Economic Collapse: “Trading Moves Big and Bearish”

Is there really a great collapse coming, and a more permanent shift to Americans and westerners becoming more like serfs?

Why is George Soros selling stocks, buying gold and making “a series of big, bearish investments”? If things stay relatively stable like they are right now, these moves will likely cost George Soros a tremendous amount of money. But if a major financial crisis is imminent, he stands to make obscene returns. So does George Soros know something that the rest of us do not?

[...] Mr. Soros also argues that there remains a good chance the European Union will collapse under the weight of the migration crisis, continuing challenges in Greece and a potential exit by the United Kingdom from the EU.

Read more at SHTFplan.com

Jun 13 13:35

ECB QE Doing Opposite of Objective

Jun 13 11:25

Market Fails To Breakout—–What Next?

Jun 13 08:48

Violent Riots And Looting Are Now A Daily Occurrence In Venezuela

Last month we reported that citizens in Venezuela had finally become so desperate for food that angry mobs flooded the streets and looted all of the supermarkets that were rumored to still have anything left on their shelves.

Not long after, tired and hungry protesters took to the streets of Caracas once again, this time marching toward the presidential palace as they chanted "No more talk - we want food!." The mob was able to get within about six blocks of the palace before police in riot gear blocked the way, and began to shoot tear gas into the crowd to disperse the protest.

And now, as president Maduro remains defiant on allowing a referendum to take place to vote on his ouster, food riots and violent looting are taking place every day in a stark reminder of just how far the socialist utopia has fallen.

Jun 13 08:47

BREXIT THE MOVIE FULL FILM

Webmaster's Commentary: 

Send this to everyone you know in Great Britain!

Jun 13 08:35

Keiser Report: Gold Price Manipulation

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