ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 14 14:11

Auto sales disappoint again

Jul 14 13:44

Speculators Sour On Gold And silver, Which Means The Bottom Is Near

The stars — in the form of smart and dumb money futures contract positions — have once again lined up favorably for precious metals. Here are those positions for gold and silver as of Tuesday the 4th.

Jul 14 13:22

Alarm Bells Are Going Off Everywhere, The Message, This Economy Cannot Be Sustained

Credit card companies begin to make offers to retailers to stop accepting cash and only use debit or credit. CBO says that Trump will not be able to balance the budget because the debt is unsustainable.

Jul 14 13:19

Financial-Crisis-Style Carmageddon Descends on Houston

Houston is recovering from the oil bust. Didn’t consumers get the memo?

Jul 14 13:10

Why is China buying the world's seeds?

Two weeks ago, state-owned ChemChina finalized its $44 billion purchase of the Swiss pesticides and seeds giant, Syngenta. It was China's biggest foreign takeover of all time.

Jul 14 13:06

Super-Rich Will Not Save The World Vis-A-Vis Vampire/Parasitic Principles

Indeed, the young are tethered to a slumber land of no ideas or ideals. Shackled to the beasts of debt and endless consumer-rent-mortgage-fee-levy-tax-fine-surcharge-hidden add on Capitalism. They amble to the nearest Starbucks and find the plastic putrid world and shitty coffee essence safe, conformist, the place to snuggle in with Twitter-Snapchat-Instagram-Facebook-Spotify.

Jul 14 12:57

Saudi Arabia: What’s Really Behind Trump’s Hypocrisy?

It is curious then that President Trump’s first trip abroad was to Riyadh, Saudi Arabia, the sociocultural source code of the very extremism infecting both the Middle East and North Africa (MENA) as well as the wider, global extremism it inspires and fuels everywhere from Southeast Asia, western China and even in the streets of North America and Europe.

While the US postures to the world as engaged in a global war on terrorism, it is clear that those nations in the Middle East cooperating closest with Washington are in fact those also perpetuating this seemingly endless war. Why?

It turns out that perpetual war is a lucrative affair in both terms of acquiring wealth and power. It is this equation of wealth and power that takes precedence, even at the expense of narrative continuity and political legitimacy.

Dollars, Oil and Arms

Webmaster's Commentary: 

Perpetual wars are great for business, if you are part of the military industrial complex, but very lousy for the troops risking their very lives to fight them.

Patriotism cannot just be killing on command; it has to be more than this, by getting the Federal government to become infinitely more accountable for their actions and decisions than they are now to We the People.

And we know precisely where a lot of these munitions are headed; they will be part of the US government-enabled Saudi genocide in Yemen.

When I was a kid in school, even in college, I never imagined that I would be a citizen of a country participating in war crimes, which is precisely what the Saudis are doing in Yemen.

Infants, children, women, and the medically fragile elderly are being slaughtered and maimed for life; the Saudi military have been using DU weapons, which are causing massive cancers, still births, and horrific physical and mental deformities in Yemen's children; with US help, all Yemeni ports are blockaded, so infants and children are dying of complications of malnutrition; and now, cholera has taken a firm hold in Yemen, with over 300,000 stricken with the disease.

I love my country; but as a Christian pacifist activist, I must peacefully, calmly,and logically protest, and witness to, these activities on the part of my government.

We urgently need a national discussion on this, and demand from our Congressional representatives why in the name of Heaven is Yemen considered any kind of a "threat" to the US and/or Saudi Arabia?!? There is an article on this from last year, indicating that the real reason Yemen became a threat to Saudi Arabia was that, with rebel Houthi leaders there, there might be a huge Shia "awakening", with some assistance from Shia Iran, which would have negative implications for the Sunni, Wahabbi Saudi state. Why Saudi Arabia is hammering Yemen

Jul 14 10:12

SHOCKING: CEO of the CME Tells Fox Biz “Gold Should Probably Be At $5-$6k/oz”

WHY would the CEO of the CME state this on live TV?? Is it because he now expects much higher metals prices in the months ahead and he wants to front-run them with his “analysis”? Is he tipping off The Banks that their games are almost over? Does he know about the “reset” that Andrew Maguire has been referencing?

Jul 14 09:01

Wealthy investment bank executive is caught stealing $210 of groceries from Whole Foods that he hid in his children's stroller

An investment banker who is an executive at a billion-dollar investment bank was caught by a security guard at a New York City Whole Foods allegedly trying to walk out with $210 worth of groceries which were shoved into his children's stroller.

Jordan Lupu, 42, who lives in a $3 million home and who also owns a second $1.4 million house in Westchester, was caught at the Tribeca Whole Foods in Lower Manhattan and accused of shoplifting.

Webmaster's Commentary: 

Classic money-junkie behavior.

Jul 14 08:52

Why One of the Largest Oil Tankers Ever Made Just Sailed to Texas, Empty

In late May, the oil tanker Anne – three football fields long and six stories high – steamed into the port in Corpus Christi, Texas.

Now, oil tankers in the Gulf Coast are nothing new. They come from all over the world, full of oil, to supply U.S. refineries there.

But the Anne was different…

For one, it was the first time an oil tanker that large – capable of holding up to 2 million barrels of oil – had ever docked at an American oil terminal in the Gulf Coast.

More importantly, the Anne was empty…

Jul 14 08:47

National Debt Too High, Silver Price Too Low

Silver currently sells around $16, which would be sensible if the U.S. national debt was much less than its current $20 trillion.

Jul 14 08:36

Unlucky (Year) Number 7?

The 2nd half of years ending in “7? have historically exhibited the stock market’s worst semi-annual performance.

Jul 14 08:17

NEOCONS GET IN HERE: TUCKER CARLSON JUST HUMILIATED MAX BOOT ON NATIONAL TV

Over the past 30 years, the neocons have presided over the worst foreign policies in American history -- pursuing their Trotskyite schemes of war that have accelerated to an ebb tide that peaked during Bush the Idiot's reign.

Men like Max Boot, Paul Wolfowitz, Donald Rumsfeld, Bill Kristol, Richard Perle, and many others, have attached themselves to the republican party like a cancerous tumor -- transforming it from a checkered pants, cigar smoked room, boys club into a satanic cult out for the blood of the indigenous.

At the root of the neocon "plan", being disciples of Trotsky, is the destruction of "Mother Russia." It's in their blood -- because they're still mad at Stalin. This has been a constant since the 50's. It was only after the Berlin Wall fell and there was a detente between the United States and Russia in the 90s did these revolutionaries affix themselves to the GOP with real energy.

Webmaster's Commentary: 

I just listened to this, and it is priceless.

Tucker just handed this guy his hat, and I deeply appreciate how he handled the interview.

Jul 14 08:07

Trillions of dollars missing from DOD, NASA, and HUD

Former US Assistant Housing Secretary and Publisher of the Solari Report Catherine Austin Fitts joins me to discuss the TRILLIONS of dollars missing from the coffers of the DOD, NASA and HUD.

Catherine says that the same forces the have looted our nation are also interested in destroying the US Constitution. Fitts explains:

“The people who run this country want to implement slavery. They believe in slavery. They practice slavery. They will chip you. They will take your kids and use them for pedophilia, they will try to make pedophilia legal.”

Jul 14 07:59

Fracking can contaminate rivers and lakes with radioactive material, study finds

The vast amount of waste water produced by fracking can contaminate rivers, lakes and other waterways with radioactive material and hormone-affecting chemicals, according to new research.

The study tested sediments and groundwater downstream of a treatment plant in Pennsylvania that was designed to make the water used as part of the fracking process fit for release into the environment.

The scientists, from Pennsylvania State University and other academic institutions, discovered that despite this process there were “high loads of chloride, barium, strontium, radium and organic compounds” in the Conemaugh River watershed.

Stream sediments in Blacklick Creek, just downstream from one treatment plant, were found to contain about 200 times the level of radium upstream of the plant.

The highest concentration of radium found was just 14 per cent below the level at which it would have to be treated as radioactive waste in some US states.

Webmaster's Commentary: 

If, in fact, this data is correct, why in the name of heaven is this process still allowed to continue in the US?!?

Because of one 5 letter word: money.

And it's never the executives of the companies doing the fracking who have to live with environmental and health consequences of these processes; it is the "flyover/expendable" Americans who are forced to live with the consequences of these practices.

And of course, oil companies are very generous contributors to both Republicans and Democrats, so do not expect the political class in this country to even attempt to protect their "alleged" constituents from the harm fracking creates.

oil and gas: top political recipients of contributions

What is it going to take to get this process to stop?!?

I would imagine that a couple of high profile "Erin Brokovich"- type, class action lawsuits, in concert, just might. But it's going to take some attorneys with skills, and courage, to get the kind of compensation people who have suffered dramatically because of fracking in their neighborhood deserve.

Jul 14 07:25

Nasa admits it can't afford to land humans on Mars

While it might still be able to fly people to the red planet, touching down is a different matter entirely

Jul 14 06:49

The END of cash? Visa declares war on coins & notes by ‘bribing’ businesses

THE CREDIT card behemoth Visa has declared war on cash by “bribing” businesses to ditch coins and notes.

Visa announced a program in the US to award small and medium–sized businesses up to $10,000 (£7,727) if they completely ditch cash in favour of credit and debit payments, with a suggestion that a similar scheme could be implemented in the UK.

Jack Forestell, head of global merchant solutions for Visa, said: “With 70 per cent of the world, or more than 5 billion people, connected via mobile device by 20201, we have an incredible opportunity to educate merchants and consumers alike on the effectiveness of going cashless.”

Jul 14 06:46

Mark Zuckerburg finally found out why Trump won; hint: it wasn’t Russia

Mark Zuckerberg, the 30-something billionaire founder of Facebook, hasn’t lived a ‘normal’ life…at least not at any point in the recent past. He grew up in a suburb of New York City and now hobnobs with the elites of Silicon Valley, at least when he’s not enjoying that massive chunk of Kauai that he recently purchased for his own private use.

Jul 14 06:25

LET THE BATTLE BEGIN: MAJOR MERGER CONFIRMED

QVC and Home Shopping Network are merging to form a retail giant that will battle for the future of retail online, experts say. Liberty Interactive, which already owns QVC and as well as 38 percent of HSN, is planning to buy the rest of HSN for $2.6 billion to create a retail behemoth that would be the third-largest retailer in the U.S. behind just Amazon and Walmart.

Jul 14 06:24

We Do These Things Because They're Easy: Our All-Consuming Dependence on Debt

A world in which "we do these things because they're easy" has one end-state: collapse.

Jul 13 18:45

FOREIGN AID FURY: Civil servants get £800k in bonuses 'as cash spent on GYMS in Africa'

WHITEHALL mandarins were handed almost £800,000 in bonuses for dolling out £13 billion of taxpayers’ money in “overseas aid”.

According to new figures 21 of the top civil servants in the Department for International Development (Dfid) were given up to £10,000 totalling £175,000.

Meanwhile another £616,000 was divided between 514 more junior members of staff.

The shocking pay awards come despite a series of damaging revelations rocking the controversial government department whose sole purpose is to hand out British money abroad.

Jul 13 15:40

Don't panic, but your Bitcoins may just vanish into the ether next month

The community-driven organization overseeing Bitcoin on Wednesday warned that any Bitcoins received after Monday, July 31, 2017 at GMT-0700 may vanish into thin air or be rejected as invalid.

Bitcoin.org said that at the end of the month, Bitcoin confirmation scores – a number that represents the difficulty of altering the associated transaction – may become unreliable for an unknown period.

"This means that any Bitcoins you receive after that time may later disappear from your wallet or be a type of Bitcoin that other people will not accept as payment," the group said.

Jul 13 15:19

The Central Banks Have Triggered The Collapse, The Setup Is Complete

Mortgage applications plunge and so do refi apps, as interest rates rise it pushes more and more individuals out the housing market. More and more of the older generation needs to work because they do not have enough to survive on.

Jul 13 15:10

Number Of New York City Street Homeless Grew By Nearly 40 Percent In One Year

The number of homeless people living on the streets in New York City increased dramatically over the past year, according to figures supplied by the Department of Homeless Services. The annual count conducted by the agency on a single night in February 2017 showed 3,892 unsheltered people living “in the rough,” up nearly 40 percent from the 2,794 counted the previous February.

Jul 13 14:59

Official Lies From the US Government — Even more, says Paul Craig Roberts.

Last Friday’s employment report is just another lie from the government. The report says that the unemployment rate is 4.4% and that June employment increased by 222,000 jobs. A rosy picture. But as I have just demonstrated, there are no fundamentals to support it. It is just another US government lie like Saddam Hussein’s weapons of mass destruction, Assad’s use of chemical weapons against his own people, the Russian invasion of Ukraine, and so forth and so on. The rosy unemployment picture is totally contrived. The unemployment rate is 4.4% because discouraged workers who have not searched for a job in the past four weeks are not counted as unemployed.

Jul 13 13:56

Fed Chair Janet Yellen Warns Congress: US Debt Trajectory Is Unsustainable

During her tesimony this morning, Fed Chair Janet Yellen urged Congress to take into account the growth trajectory of the federal debt when making decisions about spending and taxation.

She said lawmakers need to work toward achieving “sustainability of this debt path over time,”

Jul 13 13:19

Is Wall Street Funding A Shale Failure?

Jul 13 12:38

US Economy Keeps Moving Into Summer Storm

Jul 13 10:49

The Pension Crisis – & – The Crash & Burn

Jul 13 08:47

Silver Price Forecast July 13, 2017, Technical Analysis

Silver markets chomped around quite a bit during the day Wednesday as we continued to meander below the $16 level . As the market looks like it is tightening up , I think alot of this is going to come down to what Janet Yellen says .
(*oh christ!) >>>

Jul 13 08:29

Nation "Too Broke" for Universal Healthcare to Spend $406 Billion More on F-35

There always another $27 billion or lying around, it seems, when Lockheed Martin needs more money for expensive weapons system

Jul 13 08:21

Venezuela’s Currency Is So Devalued that Cops Are Demanding Bribes in Colombian Pesos

The cataclysmic devaluation of the bolivar in Venezuela and the brutal repression in the South American country now go hand in hand; state security agencies are increasingly demanding bribes in relatively strong Colombian pesos to release unjustly detained protesters.

Jul 13 08:19

IMF Tells Governments How to Subvert Public Resistance Against Elimination of Cash

The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing”. It gives advice to governments who want to abolish cash against the will of their citizenry. Move slowly, starting with seemingly harmless measures, is part of that advice.

Jul 13 08:03

‘Unacceptable!’ EU plunged into bitter infighting over budget cuts as it faces Brexit toll

Furious euro MPs ripped into national capitals over plans to slash £1.5 billion from research and agriculture projects, saying they had betrayed promises on spending.

The EU is facing a cashflow crisis from 2019 when Britain, one of the bloc’s biggest net contributor, quits the club creating a £10 billion a year black hole at the heart of its finances.

Jul 13 08:02

How Merkel's Germany PROFITS from Greek debt misery with £1BILLION pocketed so far

As one of Athens' biggest creditors, the eurozone's largest economy has banked millions in interest on loans to the heavily indebted state over the last two years alone.

A loan from Kreditanstalt für Wiederaufbau (KfW), the state development bank, has raked in about £350million (€393m) from interest payments since 2010, according to the Süddeutsche Zeitung.

Politicians are now demanding the interest is paid back to Greece.

Jul 13 07:59

Shkreli Told Investors He Had Millions Under Management When His Fund Was Broke

The prosecution has continued to call witnesses and show evidence in the trial of Martin Shkreli, providing the jury with documents to prove that Shkreli mislead investors by telling them he was managing $100 million when his fund had a balance of negative 33 cents in its prime brokerage account.

Another witness and former Shkreli investor told the jury how [he] couldn’t tell if Shkreli’s flirts were genuine, or if the “Pharma Bro” really did have feelings for him.

According to the New York Daily News, Steven Richardson — a man who told Brooklyn federal jurors he’s had a domestic partner for 25 years — testified Tuesday he wondered if Shkreli’s quips about hookups and sex were just ploys to strike a rapport with the 63-year-old investor.

Jul 13 07:51

Recipe for Famine: Ukraine to face up to 50% food price hikes

On July 1st, the Ukrainian Cabinet of Ministers' Resolution No. 394 from June 7th went into effect, thereby ending state regulation of food prices.

Jul 13 07:39

PC sales still slumping, but more slowly than feared

Analyst firms IDC and Gartner have emitted their quarterly assessments of the personal computer market, with both recording further sales slowdowns but also suggesting things could be worse.

Gartner reckons the world consumed 61.1 million machines, down 4.3 per cent from the same quarter in 2016.

IDC says combined desktop, notebook and workstation shipments hit 60.5 million units in the second quarter of 2017, for a year-on-year decline of 3.3 per cent. That's rather better than the firm's previous prediction of a 3.9 per cent dip.

Jul 13 07:33

Is Wall Street Funding A Shale Failure?

The latest figures from the EIA show that despite some hiccups, the shale rebound is still on track. Last week, the sharp drawdown in inventories made headlines, but buried within the weekly figures was a bounce back in oil production, reigniting fears that the market will take much longer to balance.

Jul 13 07:29

After 40yr oil export ban, US looks to top global market – report

The US may transform into one of the world’s top oil exporters in only a few short years due to its production increase of shale oil, an energy consulting group says.

The consultancy PIRA energy group has released a new forecast relating to the current boom of US shale oil production. The group has estimated that by 2020, US crude exports will rise to 2.25 million barrels a day. This means the production would grow to four times the amount of what was produced last year. The recent uptick of crude production in the US looks to weaken the strength of OPEC exporting countries, according to CNN Money.

This boom would put the US almost on the same level as giant oil exporters such as Kuwait and the United Arab Emirates. Jenna Delaney, an analyst at PIRA, said that “in the years ahead, these developments position the US to potentially be one of the largest exporters of crude oil in the world,” CNN reported.

Jul 13 06:09

Our Financial Buffers Are Thinning

The fragility of our financial buffers will only be revealed when they fail in the next crisis.

Jul 13 05:27

US to Spend $406 Billion on F-35 Jet Program

The Most Expensive Weapons Program Is Getting More Costly

The cost of the F-35 jet program , already the most expensive weapons program ever is estimated to climb to US$406.5 billion , dispite Trump's assurances to fix "out of control" expenditures

>>>

Jul 13 05:13

Unwinding QE will be “More Disruptive than People Think”: JP Morgan CEO Dimon

“We act like we know exactly how it’s going to happen, and we don’t.”

Jul 12 17:56

Slower US F-35A purchases piles $27bn onto total fighter jet bill

The UK is buying 138 F-35s in total, the majority of which will be F-35Bs. Nobody can be sure about this, however, because the Ministry of Defence hasn’t ruled out an F-35A purchase as well. Early production F-35Bs cost around $122m each, according to Lockheed Martin’s own estimates. With F-35As coming in at $94.6m each, that price is now in the region of $101.2m per jet.

As we reported in May, the MoD has signed contracts to buy a total of 27 F-35Bs until the year 2023, which is when Lockheed Martin, maker of the F-35, appears to be going into full scale production. This appears to be a decision made in the hope of taking advantage of economies of scale once the design is frozen and mass production kicks in. With the US scaling back, however, and causing its own prices to rise, there is little doubt foreign customers will also be hit with price rises in turn – including the UK.

Jul 12 16:56

Is This The Generation That Is Going To Financially Destroy America?

Did you know that the federal government is going to spend more than 4 trillion dollars this year?  To put that into perspective, U.S. GDP for the entire year of 2017 is going to be somewhere between 18 and 19 trillion dollars.

Jul 12 13:56

Bubbles, Bubbles, Toil And Trouble

Jul 12 12:11

Why bitcoin and other cryptocurrencies could plunge 75% -- and still be in a bull market

It’s been a tough stretch for bitcoin investors. After toppling the $3,000 level last month, bitcoin has shed more than $600. For crypto rival ethereum, it’s been even uglier. The sudden reversal in the market has sparked yet another wave of doom and gloom regarding the future of cryptocurrencies.

But while those late to the party have, indeed, been slammed the past couple of weeks, long-term crypto holders don’t have much to complain about.

According to buy-side analyst Chris Burniske, bitcoin BTCUSD, +2.84% and the rest of crypto market could plunge 75% from these levels and still be in a bull market. That’s because such a decline would only bring the total market down to $15 billion in aggregate value.

Jul 12 12:10

Congress Wants Union Pension Bailout, but Can't Afford Promises

Many workers have been promised far more in pensions than their employers — public or private — can afford to pay them. Puerto Rico, for example, will soon have to start tapping general revenues for some $750 million annually just to cover its pension IOUs.

Stateside, a similar day of reckoning fast approaches the United Mine Workers of America. Unfortunately, as the UMWA’s pension fund nears insolvency, some lawmakers want to bail it out.

That would set a dangerous precedent. Rewarding the irresponsible and reckless actions of UMWA officials and pension managers would encourage other plans to follow in their footsteps.

Jul 12 11:00

On Borrowed Time

There are a number of things you don’t want to hear a central banker say.

One of those things just popped out of Janet Yellen’s mouth – “I don’t believe we will see another financial crisis in our lifetime.” That has to be up there with Irving Fisher’s deathless observation from 17 October 1929 that "Stock prices have reached what looks like a permanently high plateau" or John Maynard Keynes’ comparably adept forecast from 1927 that "We will not have any more crashes in our time."

So far, so anecdotal. How about some data to back up the thesis that, as Thorstein Polleit puts it, the super bubble is in trouble ?

Jul 12 10:57

Russia Plans to Create a Joint Investment Forum with the Bank of China

Russian President Vladimir Putin held talks with visiting Chinese President Xi Jinping in the Kremlin on Tuesday during which the two leaders held wide-ranging talks on a host of issues including bilateral ties and international hotspots like Syria and North Korea.

“We invariably have economic matters at the top of our agenda, but they are not the only issues we address. We also coordinate our efforts on the international stage, in the area of security and in the fight against modern threats and challenges,” Putin said.

Putin also announced Russian plans to create a joint investment forum with the Bank of China at a joint press conference following talks with the Chinese President.

The Russian Direct Investment Fund and the China Development Bank (CDB) also agreed to establish a Russian-Chinese investment fund worth 68 billion yuan ($10 billion).

Jul 12 09:09

Meanwhile In Venezuela, The Real Mad Max Emerges

While Silicon Valley seems obsessed by 'blood boys', its another part of the world that appears to have gone full Mad Max. As the following clip shows a gang of bikers chase down and attack a truck (with molotov cocktails) to steal its sugar payload...

Jul 12 09:08

Connecticut Capital Hartford Downgraded To Junk By S&P

One week ago, Illinois passed its three year-overdue budget in hopes of avoiding a downgrade to junk status, however in an unexpected twist, Moody's said that it may still downgrade the near-insolvent state, regardless of the so-called budget "deal." In fact, a downgrade of Illinois may come at any moment, making it the first U.S. state whose bond ratings tip into junk, although as of yesterday, credit rating agencies said they were still reviewing the state's newly enacted budget and tax package. The most likely outcome is, unfortunately for Illinois, adverse: "I think Moody's has been pretty clear that they view the state's political dysfunction combined with continued unaddressed long-term liabilities, and unfavorable baseline revenue performance as casting some degree of skepticism on the state's ability to manage out of the very fragile financial situation they are in," said John Humphrey, co-head of credit research at Gurtin Municipal Bond Management.

Jul 12 09:08

Golden Years... Or Tears: More US Seniors Are Still Working Than At Any Time Since The '60s

Long walks on the beach, holding hands in a hottub overlooking the ocean, working on your golf game...in Hawaii, treating the kids and grandkids to treats and trips - we have all seen the commercials of how great 'retirement' can be (or could have been), if you just put a little more money into the stock market via your friendly local asset gatherer.

Jul 12 08:16

THE MEDIA SAYS THE US JUST LIBERATED MOSUL: HERE’S WHAT REALLY HAPPENED

“In June 2014, ISIS crossed the Syrian border into Iraq, effortlessly taking the strategic oil-rich cities of Mosul and Baiji and almost making it as far as Baghdad. Amid the terror group’s frightening victory, they uploaded images and footage of drive-by-shootings, large-scale death marches, and mass graves (following the mass executions of Iraqi soldiers).

“ISIS militants claimed massive quantities of American military equipment, including entire truckloads of humvees, helicopters, tanks, and artillery as their own. This was no secret to Washington, or even the world, as the militants photographed and recorded themselves and publicly flaunted their activity on social media.”

Was there a good reason the American military sat on its hands despite knowing full well that this was going on? As Anti-Media explained further:

Jul 12 08:11

CONNECTICUT CAPITAL HARTFORD DOWNGRADED TO JUNK BY S&P

And yet, while Illinois squirms in the agony of the unknown, another municipality that as recently as a month ago was rumored to be looking at a bankruptcy filing, the state capital of Connecticut, Hartford, no longer has to dread the unknown: on Tuesday afternoon, S&P pulled off the band-aid, and downgraded the city's bond rating by two notches to BB from BBB-, also known as junk, citing "growing liquidity pressures" and "weaker market access prospects", while keeping the city's General Obligation bonds on Creditwatch negative meaning more downgrades are likely imminent.

Jul 12 08:04

Investors Are Dumping Emerging Market Debt At A Record Pace

Having warned that Emerging Market debt risks had hit 10-year lows (despite soaring uncertainty) and EM equity risk had hit record lows (amid record inflows), it seems the lagged impact of the collapse in the China credit impulse is finally being recognized as the largest EM Debt ETF (from JPMorgan) just suffered its largest outflows in history...

Jul 12 08:04

The City of Seattle Approved an Income Tax, but Faces Court Battle

Seattle has done one thing effectively: drive out earners. Anyone making over $250,000 within city limits of Seattle is now subject to a new income tax, but the new law is likely to face a court battle over its unconstitutionality.

The cheers from the socialists as this blatant constitutional violation was on full display was possibly the most horrific part of the entire debacle. People are actually cheering and happy that the government is stealing money from those they don’t even know. It’s like humanity has never existed.

Jul 12 08:04

For Google, the Pixels Just Hit the Fan

Distinguished research psychologist Robert Epstein explains why Google was recently fined $2.7 billion for one of its search-engine manipulations. This is just the beginning, he says, of bad news for a company that tracks and manipulates people on a massive scale.

Jul 12 07:03

Cryptocurrencies Collapsed - Ethereum down 52%, Ripple down 57%, EON down 70% in eight days.

A “collapse” isn’t when something edges down 1% in value or even 10% or 20%; it’s when something plunges 50% in a short time.

Jul 11 17:30

Connecticut Just Banned Civil Forfeiture Without A Criminal Conviction

Connecticut Gov. Dannel Malloy signed HB 7146 on Monday, which curbs the state’s civil forfeiture laws. Not only did the bill earn endorsements from the Yankee Institute for the Public Policy and the state chapter of the ACLU, HB 7146 even passed both the House and the Senate without a single no vote.

Jul 11 15:48

John Rubino – Where Are We Heading?

Jul 11 15:35

Number Of New York City Street Homeless Grew By Nearly 40 Percent In One Year

The number of homeless people living on the streets in New York City increased dramatically over the past year, according to figures supplied by the Department of Homeless Services. The annual count conducted by the agency on a single night in February 2017 showed 3,892 unsheltered people living “in the rough,” up nearly 40 percent from the 2,794 counted the previous February.

Jul 11 15:26

How Retiring Baby Boomers Could Sink Stocks

In 2016, the first group of baby boomers turned 70 years old. Millions more will do the same over the next 15 years, and as a result, selling activity in their retirement portfolios could be a big problem for markets.

Jul 11 15:22

FLASHBACK - NANCY PELOSI SAYS LETTING PEOPLE KEEP MONEY THEY EARN IS STEALING

If you ever had any doubt that democrats consider your money theirs, Nancy Pelosi just erased that. According to her, if you are “allowed” to keep the money you earn, that’s really stealing from poor people who didn’t earn it. I know this is some dizzying liberal logic, but that’s how they like things. Their hope is to make things so confusing that you can’t tell how bullshit it all is.

Jul 11 15:19

Mutual-fund giant DUMPS Hundreds of Workers

Jul 11 15:07

Wind Power Disaster in Australia Leads to Impending Economic Crisis

With laws mandated by elected officials but not supported by the populace of Australia for the wind power program which has seen 15% rises in kwH pricing over the last 12 months, what happens when food prices rise 30-50% over the next 12 months?

Jul 11 13:36

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

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

Jul 11 12:58

Denver To Get Its First Tiny House Village For The Homeless

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

Jul 11 12:38

The Modern US Dollar — 38 incredible facts.

Just Remember, Nothing Last Forever…

Jul 11 12:09

Advice firm promoting Ukrainian property fund goes bust

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

Jul 11 11:59

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

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

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

Jul 11 11:54

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

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

Jul 11 11:53

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

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

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

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

Webmaster's Commentary: 

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

In a word, non-existent.

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

Jul 11 11:47

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

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

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

None of the defenders’ other arguments stack up.

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

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