ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 11 08:17

Savings rates turn NEGATIVE amid biting inflation with just ONE account beating rate

SAVERS are effectively suffering negative interest rates with inflation at its highest level in more than three years, experts have warned.

The cost of living remains at 2.3 per cent, data showed today, and just one saving account offers a rate above this level, according to Moneyfacts.co.uk.

It means cash kept in almost all available saving accounts is in effect losing value.

Apr 11 08:01

Toshiba Warns of Its Ability to Continue as Going Concern

Toshiba Corp., the 142-year-old conglomerate, warned on Tuesday it may not be able to continue as a going concern as it grapples with billions of dollars in losses from its Westinghouse Electric nuclear business.

The disclosure came as the Japanese company reported earnings for the third quarter after missing two previous deadlines for financial results. Toshiba posted an operating loss of 576.3 billion yen ($5.2 billion) for the nine months ended Dec. 31 and said it had negative shareholders equity of 225.6 billion yen, but, significantly, it wasn’t able to get auditor PricewaterhouseCoopers Aarata to approve those figures.

Apr 10 18:21

New York Just Made College Tuition Free For Middle-Class Students

It's no secret that U.S. students are getting royally screwed over when it comes to college. With tuition prices rapidly increasing, more and more students have to take out loans they'll more than likely be paying off for the rest of their lives. The cost of living in states that are actually hiring with jobs that pay a decent salary is increasing as well, which means that even if you are hired, there's not much cash at the end of the month left after paying off your debts.

Apr 10 15:35

Is Freelance Work the Future of the Job Market?

A freelancer is defined as a person who works as a writer, designer, performer, or the like, selling work or services by the hour, day, job, etc., rather than working on a regular salary basis for one employer. In previous times, freelancing was looked down upon and even synonymous with being out of work. However, this sentiment has changed drastically. 55 million people in the United States are freelancing which equates to approximately 35% of the U.S. workforce. Annually, freelancers contribute $1 TRILLION dollars to the economy and 63% of freelancers launched their careers by choice rather than out of necessity.

Apr 10 15:13

RETAILERS CUT 30K JOBS IN MARCH

Apr 10 12:18

Bank Of England Implicated In Interest Rate-Rigging Scandal, New Recording Shows

The Bank of England (BoE) has been implicated in the Libor rigging scandal, according to a BBC Panorama investigation.

The London Interbank Offered Rate (Libor) is the interest rate at which banks lend between each other. It consequently sets the benchmark for average clients’ loans and mortgages.

Apr 10 11:20

Buy, Sell, or Crash? Fed Warns on Stocks... If History Is The Guide, You’re On Your Own.

The Fed has planted three separate warnings on high stock prices into its March-meeting Minutes, released last week. In the past, the Fed has warned on various occasions on high stock prices, with, let’s say mixed results. Stocks have crashed after warnings, and they have crashed without warnings, and they have soared after warnings.

Apr 10 11:06

More Fake News From Washington

The US government continues to lie about everything, not just Russia, Syria, Iran, and China. The US government is incapable of telling the truth about something as straightforward as employment. According to the government, March produced only 98,000 new payroll jobs, an insufficient amount to reduce unemployment, but the unemployment rate fell from 4.7 to 4.5 percent.

How did that happen? Not because the unemployed found jobs. The unemployment rate fell because the government did not count as unemployed large numbers of unemployed people who did not look for a job during the four week period prior to the survey. The US has a low unemployment rate, because the government does not count the unemployed.

Apr 10 10:30

FLASHBACK: Big names back Trump tower:Soros, Deutsche Bank said to be in on 90-story building

October 28, 2004|By Thomas A. Corfman, Tribune staff reporter.

Donald Trump has lined up three New York hedge funds, including money from billionaire George Soros, to invest $160 million in his Chicago skyscraper, a key piece in perhaps the largest construction financing in the city's history, according to real estate sources and public documents.

Apr 10 10:08

Sleepwalking toward World War III - The TRUE story of criminal conspiracy inside the CDC

Sleepwalking toward World War III… like clockwork, the next 25-year cycle of mass human suffering and death begins NOW.

The American masses are oblivious to how they’re being manipulated

Here’s EXACTLY what’s going to unfold, step by step, with near perfect scripting

WAR as the ultimate cover story for the coming financial collapse

The best way to start a war? Unleash a radiological false flag in a U.S. city

How the military industrial “deep state” tells itself false flags are necessary to protect the nation

Pick your narrative and believe what you want… we’re still sleepwalking toward World War III

Read AND print out this article and keep as guide as it unfolds.

Apr 10 09:31

Protesters clash with police at G7 summit in Italy

Clashes have broken out between police and protesters at the G7 summit in Lucca, northern Italy, where top officials of the Group of Seven (G7) countries are meeting to discuss pressing international issues.

Footage from the scene showed riot police armed with batons and riot shields squaring off against anti-capitalist protesters. Demonstrators threw firecrackers and other projectiles at officers while others fought back during the melee.

Apr 10 08:48

G7 'Unlikely to Support' US-UK Push to Slap More Sanctions on Russia

G7 countries will likely reject the UK Foreign Secretary's latest call to tighten sanctions against Moscow, Russian political analyst Alexey Zudin told Sputnik.

Webmaster's Commentary: 

Mostly because the G7 realize that the original "Assad gassed his own people" doesn't make any sense, that the US always lies to start wars of aggression, and the sanctions have proven to cause more harm to Europe than to Russia.

Apr 10 08:24

THE DEBT CRISIS OF 2017: ONCE THEIR VACATION ENDS, CONGRESS WILL HAVE 4 DAYS TO AVOID A GOVERNMENT SHUTDOWN ON APRIL 29

April 2017 could turn out to be one of the most important months in U.S. history that we have seen in a very long time. On April 6th, Donald Trump attacked Syria on the 100th anniversary of the day that the U.S. officially entered World War I, and now at the end of this month we could be facing an unprecedented political crisis in Washington. On Friday, members of Congress left town for their two week “Easter vacation”, and they won’t resume work until April 25th. What this means is that Congress will have precisely four days when they get back to pass a bill to fund government operations or there will be a government shutdown starting on April 29th.

Webmaster's Commentary: 

A two-week Easter vacation, when President Trump has just ordered, and executed, a military strike against Syria; the US economy is in utter meltdown; and we have warships on the way to North Korean territory?!?

Must be nice not to give a rat's anus about the people Congress is allegedly representing!!

Apr 10 07:44

How much is $100 worth in every state?

Have you ever wondered just how far your money is going?

Whether it’s in your hometown, while you are traveling or during your vacation, money goes fast.

Apr 10 06:58

Not Prepared: Will Most Americans Be Absolutely Blindsided By Multiple Wars And A Simultaneous Economic Collapse?

According to CBS News, an astounding three-fourths of all Americans have to “scramble to cover their living costs” each month. In other words, most of the country is either living paycheck to paycheck or very close to it. But instead of tightening their belts and trying to put something away for the very hard times that are coming, most Americans are completely and utterly unprepared for what is ahead because the people that they trust on television keep telling them that everything is going to be okay.

Apr 10 06:47

Euro value plunges as Le Pen's chance of French election victory rise HIGHER

Europe's single currency has plunged to 1.05 against the US dollar and has also fallen against the pound amid the rising chance of Front National success.

At the same time, independent candidate Emmanuel Macron's likelihood of victory have tumbled lower to 57 per cent, according to Oddschecker, which measures a number of betting odds to create an average.

Ms Le Pen's odds are now at 27 per cent and the anti-Brussels candidate promise of a Frexit vote is worrying markets.

Francois Fillion's chance is measured at just 20 per cent.

Apr 10 02:10

The Debt Crisis Of 2017: Once Their Vacation Ends, Congress Will Have 4 Days To Avoid A Government Shutdown On April 29

April 2017 could turn out to be one of the most important months in U.S. history that we have seen in a very long time. On April 6th, Donald Trump attacked Syria on the 100th anniversary of the day that the U.S. officially entered World War I, and now at the end of this month we could be facing an unprecedented political crisis in Washington.

Apr 09 19:22

Donald Trump’s Pick For Top Economic Adviser Is Pro-Immigration, Pro-Outsourcing

Had enough?

President Donald Trump has picked an economic advisor who believes in growing the nation’s economy by importing workers and consumers, and by expanding free-trade outsourcing, despite Trump’s “buy American, hire American” campaign promises.

Kevin Hassett is slated to become chairman of the Council of Economic Advisors if he is approved by the Senate’s banking committee. If Hassett is confirmed, that will be a win for the corporatist, business-first faction in Trump’s White House, which fights for influence in the Oval Office against the populist, America-first faction that helped Trump win the election in November.

Apr 09 18:19

The Economic Data Just Went From Bad To Worse, The Collapse Accelerates

More economic indicators are showing the economy is collapsing at an accelerated pace.

Apr 09 18:06

Google Pays Female Workers Less Than Male Counterparts, Labor Department Says

GOVERNMENT INVESTIGATORS LOOKING INTO HOW GOOGLE PAYS ITS EMPLOYEES ACCUSED THE TECH GIANT OF SHORTCHANGING WOMEN DOING SIMILAR WORK TO MEN.

Apr 09 17:42

America’s Retailers Are Closing Stores Faster Than Ever

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

At the bottom, the seemingly ubiquitous Payless Inc. shoe chain filed for bankruptcy and announced plans to shutter hundreds of locations. Ralph Lauren Corp., meanwhile, said it will close its flagship Fifth Avenue Polo store -- a symbol of old-fashioned luxury that no longer resonates with today’s shoppers.

And the teen-apparel retailer Rue21 Inc. could be the next casualty. The chain, which has about 1,000 stores, is preparing to file for bankruptcy as soon as this month, according to people familiar with the situation. Just a few years ago, it was sold to private equity firm Apax Partners for about a billion dollars.

“It’s an industry that’s still in search for answers,” said Noel Hebert, an analyst at Bloomberg Intelligence. “I don’t know how many malls can reinvent themselves.”

Apr 09 17:25

Atlanta Fed GDPNow Forecast Spirals Toward Zero

I hope the model is wrong.

Apr 09 09:54

Even Mickey's job isn't safe! Walt Disney is developing 'soft robots' to bring cartoon characters to life so they can interact and even be hugged by people

Robots dressed as movie characters could one day roam around Disney theme parks interacting with visitors.

Walt Disney has filed a new patent application showing the company is developing the soft-body robots to bring characters like Mickey Mouse to life.

The plan is to have the humanoid robots moving and physically interacting like an animated characters and they are being adapted for soft contact and interaction with humans.

Apr 09 08:46

Clif High - First Ever Global Government Crash Coming, Fed Will Crash & Fed Is the Market

Internet Data mining expert Clif High’s latest report says, ““The emotions at the moment are projecting a crash of the ability of the state to function. . . . We have the projection that there is going to be some sort of big government crash.

Apr 08 17:40

What’s Left To Drive The Recovery? Not Much

US growth, such as it is, has lately been driven by a handful of hot sectors. Car sales have set records, high-end real estate is generally way up, and federal spending – based on last year’s jump in the national debt – is booming.

Apr 08 09:49

Is This The Beginning Of The End For U.S. Empire?

Before I get into the meat of this post, I want to revisit something I wrote back in January.

From the post, Very Powerful People in the U.S. Government Want War – This is Their Sales Pitch:

We need to understand that those who want this war will be absolutely relentless. The sales pitch will not end until they get exactly what they want. This is where all of us critical thinkers need to play a key role. We must be prepared to diligently analyze all unsubstantiated official claims, and push back against the war-mongers, because we know for certain the oligarch-owned corporate media won’t. We must be prepared to inform our fellow citizens about what’s happening so that we don’t fall victim to a cheap sales pitch with devastating consequences. Unfortunately, we must also be prepared for a possible deep state false flag if the current sales tactic falls on deaf ears.

Apr 08 09:00

Syria: Trump May Just have Started World War III

People stand up and become disabler of the empire!

Syria is a mere square on this murderous chess board, as was Yugoslavia, Libya, Iraq, Somalia, Afghanistan, and many more to come. The purpose is not ‘winning a war’ – that would be too simple. The purpose is creating and leaving behind chaos, eternal chaos. In the case of Syria a balkanization of the country, what Clinton did to Yugoslavia. The old ‘divide to conquer’ – it still works after hundreds of years. People are still blinded to these oldest and most rudimentary of war strategies. They still fall for it; don’t notice; swallow the lies.

Webmaster's Commentary: 

I frankly don't think the worst is over here; if President Trump does order another strike against Syria, Russia may very well counter militarily.

Their "line in the sand" here is that Al-Assad must be allowed to stay; anything that counters that scenario will be most likely me with extreme prejudice.

Apr 08 08:12

New Report: America’s retailers are closing stores faster than ever

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors.

Apr 08 07:51

US CREDIT CARD DEBT RISES ABOVE $1 TRILLION FOR THE FIRST TIME IN A DECADE

Unlike last month's unexpectedly week consumer credit report, which saw a plunge in revolving, or credit card, debt moments ago the Fed, in its latest G.19 release, announced that there were few surprises in the February report: Total revolving credit rose by $2.9 billion, undoing last month's $2.6 billion drop - the biggest since 2012 - while non-revolving credit increased by $12.3 billion, for a total increase in February consumer credit of $15.2 billion, roughly in line with the $15 billion expected.

Webmaster's Commentary: 

If there was ever a time to get your credit card debt under control, that time is now.

Yellen has announced that she is looking at more increases in the Fed's lending rates, which will absolutely affect your interest on your credit card.

Apr 08 07:39

Bank Theft, IMF Update

"The IMF (International Monetary Fund) or as I like to call them – International Mafia Federation – is showing its true colors and proving beyond question this organization is nothing more than street-corner thugs in high-priced suits.

"With the release of this latest working paper on how to enslave nations, steal the remaining sovereignty of the people and nations they have drawn up plans to force a cashless society upon all the people within IMF member nations..."

Apr 08 07:08

Bill Bonner: Doom index says beware

A dear reader helpfully suggested that we put together a “Doom Index” – with indicators of an approaching bust.

Our research team in Delray Beach, Florida, is working on it.

Apr 08 04:44

Poll: Most young people say gov’t should pay for health care

The public education indoctrination system has succeeded.

Apr 07 15:19

Italy's Target2 Deficit Hits Fresh All Time High, Above 25% Of Italian GDP

the Bank of Italy reported that Italy's Target 2 deficit rose to new highs in March at €420bn, from €386bn in February. As a way of comparison, during the peak of the EU Sovereign crisis in 2012 crisis, Italy’s liabilities stood at Eur 290bn. Total Target II liabilities are now above 25% of GDP In Italy (from 22% in January).

Apr 07 14:47

WHAT MAKES MILLENNIALS DISTURBINGLY DIFFERENT?

Something had mysteriously changed during the 2016 US Presidential primaries when an unlikely democratic candidate burst on the national scene with an unquestionable allure for the Millennial generation.

Apr 07 14:11

Markets May Be Getting Expensive

Let me suggest a warning.

Apr 07 12:42

WHAT MAKES MILLENNIALS DISTURBINGLY DIFFERENT?

Something had mysteriously changed during the 2016 US Presidential primaries when an unlikely democratic candidate burst on the national scene with an unquestionable allure for the Millennial generation.

Apr 07 12:07

Startup Craziness Deflates, Hits Silicon Valley & San Francisco

Venture Capital gets prudent – with consequences.

Apr 07 10:55

Westinghouse Bankruptcy Leaves Costly Nuclear Mess For Southern Utility Customers

Federal and state officials who oversee nuclear power can’t say they weren’t warned that financial disaster was a very real possibility should they approve plans for new nuclear reactor construction projects at Southern Company/Georgia Power’s Plant Vogtle near Waynesboro, Georgia, and SCANA/SCE&G’s Summer Plant near Jenkinsville, South Carolina.

Apr 07 10:02

Twitter cofounder to sell chunk of his stock for personal reasons

Better do it quickly before the price falls further

Apr 07 08:57

The Unavoidable Pension Crisis

There is a really big crisis coming.

Think about it this way.

After 8 years and a 230% stock market advance the pension funds of Dallas, Chicago, and Houston are in severe trouble. But it isn’t just these municipalities that are in trouble, but also most of the public and private pensions that still operate in the country today.

Apr 07 08:31

Ben Carson just audited Obama's HUD and found $520 billion in accounting errors and fraud.

Dr. Carson dug into the agencies records in a sweeping audit wherein he found substantial bookkeeping “errors”, which only prove either the incompetence or the corrupt nature of the previous administration

Apr 07 08:21

Ex-Goldman Trump Advisor Drops Glass-Steagall Bombshell

Is there hope?

According to “people with direct knowledge of the matter,” cited by Bloomberg, White House economic adviser and one of the ex-Goldman Sachs executives in the Administration, Gary Cohn, dropped a bombshell at a meeting on Capitol Hill yesterday.

Apr 07 07:26

Saudi Arabia Vs. Russia: The Next Oil Price War

International oil markets could be heading towards a new war, as leading OPEC and non-OPEC producers are vying for increased stakes. The unexpected cooperation between OPEC and non-OPEC countries, instigated by the full support of Saudi Arabia (OPEC) and Russia (non-OPEC) has brought some stabilization to the crude markets for almost half a year. The expected crude oil price crisis has been averted, it seems, leaving enough room when looking at the fundamentals to a bull market in the coming months. As long as Saudi Arabia, Russia and some other major producers (UAE, Kuwait), are supporting a production cut extension, financials will be seeing some light at the end of the tunnel.

Apr 06 17:48

These Eight Retailers Will File For Bankruptcy Next, According To Fitch

Fitch’s expectation of increasing retail defaults stems from increased discounter (including off-price and fast-fashion apparel) and online penetration, and shifts in consumer spending toward services and experiences. All of these factors have created a highly competitive retail environment and accelerated mall traffic declines. Retailers have also suffered from the ebb and flow of brand popularity. Negative comparable store sales and fixed-cost deleverage have led to negative cash flow, tight liquidity and unsustainable capital structures.

Webmaster's Commentary: 

I frankly don't think it is the on-line shopping which is destroying these retail brands; the problem is, people just don't have the money, period, end of discussion, to shop for those items which are not absolute necessities, and don't want to put the non-necessities on credit cards.

Apr 06 16:26

U.S. Mass Produces Debt: Stocks, Home Prices, Used Cars, Everything!

The American economy is on the brink. Our national debt has never been higher, and it continues to pump up the overinflated stock market. And while the stock market has given the naive some hope that all is looking well, that hope is misplaced. GDP growth in 2016 came out to a miserable 1.6%; the worst since the Great Recession. Oh yeah, we’re also facing the largest unfunded pension crisis in US history.

In the following video, Right Wing News interviews Charles Thorngren from Nobel Gold precious metals about his thoughts on what America is going to look like when the bubbles finally burst. The real estate bubble is forming again, only now joined by subprime auto loans and student loans. How will America look like when prices crash everywhere?

Apr 06 16:08

Ticking Time Bomb Will Wipe Out Virtually Every Pension Fund In America (Video)

Many Americans tend to regard their pension funds as ‘untouchable’ and are counting on it to support them through their retirement years. This is a mistake, because American pension funds are a ticking time bomb that could collapse any moment. Nearly all of them are woefully underfunded, to the tune of $1.9 trillion, compared to $292 billion in 2007. That’s a more than fivefold increase in just 10 years.

Apr 06 16:04

These Eight Retailers Will File For Bankruptcy Next, According To Fitch

Sears Holdings Corp (roughly $2.5 billion); 99 Cents Only Stores LLC; Charming Charlie LLC; Gymboree Corp.; Nine West Holdings Inc.; NYDJ Apparel LLC; rue21, Inc.; and True Religion Apparel Inc.

Apr 06 15:59

Stupid is as Stupid Does

If you prefer fake news, fake data, and a fake narrative about an improving economy and stock market headed to 30,000 don’t read this fact based, reality check article. The level of stupidity engulfing the country has reached epic proportions, as the mainstream fake news networks flog bullshit Russian conspiracy stories, knowing at least 50% of the non-thinking iGadget distracted public believes anything they hear on the boob tube.

Apr 06 15:55

If The Fed Sells Treasury's...Who Will Be Buying?

From 1776 through 2007, the US issued just over $9 trillion in US Treasury debt to pay for stuff which "we" wanted but "we" were unwilling to tax ourselves to pay for.

Apr 06 15:09

A Tax Plan Only A One Percenter Could Love

After the failed effort to repeal the Affordable Care Act (aka Obamacare), the Trump administration has set its sights on its next big project: so-called “tax reform.”

And the “reform” they seek appears guaranteed to elicit disdain from all sides — with the notable exception of the ultra-wealthy.

Apr 06 14:32

Canada-EU "Trade Deal" Contains a Gift for the Rothschilds

Ostensibly a trade deal, Bill C-30 will forever prevents the Bank of Canada from creating debt free currency.

Apr 06 14:21

Gold Finds Strong Support from Negative Real Rates

In case you haven’t already noticed, inflation has been steadily creeping up since July. In February, the most recent month of available data, consumer prices advanced at their fastest pace in five years, hitting 2.7 percent year-over-year. March data won’t be released until next week, but I expect prices to proceed on this upward trend, buttressed by rising mortgages and costs associated with health care and energy.

Apr 06 13:37

Walmart announces more job cuts

Apr 06 13:16

The Biggest Stock Bubble In U.S. History

Please note, many will argue that the p/e ratio on the S&P 500 was higher in 1999 than it is now. However, there’s two problems with the comparison. First, when there is no “e,” price does not matter.

Apr 06 12:48

Will massive Muslim immigration bankrupt and destroy Sweden?

Muslim invaders posing as refugees are expected to cost Sweden $18.2 billion this year, nearly 10 times over budget. And that’s just the cost for 318,000 Syrian Muslims who arrived in the last two years.

Apr 06 12:30

Stocks Tank After Tillerson Warns Russia Of "Coalition Steps Underway To Remove Assad"

VIX was being crushed and stocks were leaking higher just as planned... until Secretary of State Rex Tillerson hit the tape beating some war drums...

*TILLERSON: STEPS UNDERWAY FOR COALITION TO REMOVE ASSAD
*TILLERSON: ASSAD'S ROLE IN FUTURE UNCERTAIN
*TILLERSON: NO DOUBT ASSAD'S REGIME RESPONSIBLE FOR SYRIA ATTACK
"I think further it's very important that the Russian government consider carefully their continued support of the Assad regime."
All of which is a major flip-flop from last Thursday's comments

“I think the longer term status of President Assad will be decided by the Syrian people,” said Tillerson at a joint conference with Turkish Foreign Minister Mevut Cavusoglu on Thursday
The reaction in the market was quick...

Apr 06 12:21

Toronto House Price Bubble Goes Nuts

Based on fundamentals? You gotta be kidding.

Apr 06 11:36

The Fed Just Hinted That The Stock Market And The Economy Might Be On Shaky Ground

ADP employment surges to highest since 2014. Services PMI and non-manufacturing ISM decline.

Apr 06 11:19

Money Talks. We Need To Talk Louder.

In today’s polarized political climate, it seems like there’s no issue that people can agree on — except for maybe one.

Democrats and Republicans, liberals and conservatives, and people on all parts of the spectrum largely agree on one thing: There’s too much money in politics. And it’s only getting worse.

Apr 06 10:42

50% OF AMERICANS LIVE PAYDAY-TO-PAYDAY; 33% CAN'T WRITE A $500 EMERGENCY CHECK

It's been more than seven years since the 'great recession' officially ended, but while Fed policies have successfully generated massive asset bubbles which have accrued solely to the benefit of America's wealthiest, the majority of American families remain as vulnerable to financial disaster as they were during the height of the crisis.

In fact, a recent study found that some 50% of Americans are woefully unprepared for a financial emergency with nearly 1 in 5 (19%) having absolutely no savings set aside to cover an unexpected expense. Meanwhile, nearly 1 in 3 (31%) Americans couldn't write a $500 check to cover an unexpected household emergency expense if they had to, according to a survey released by HomeServe USA, a home repair service.

Webmaster's Commentary: 

This is pretty scary, but I think is an honest assessment of how many people feel about their finances, even if they are employed full-time, and getting a paycheck on a regular basis.

Apr 06 09:58

How Target Botched Its Response to the North Carolina Bathroom Law

Target CEO admits policy announcement was huge mistake

How Target Botched Its Response to the North Carolina Bathroom Law
In April last year, Target Corp. published a blog post welcoming transgender employees and shoppers to use restrooms and fitting rooms corresponding with their gender identities. “Everyone deserves to feel like they belong,” read the post, which turned half of Target’s red bullseye logo into a gay-pride rainbow.

A very damaging article just out from the Wall Street Journal clearly shows that Target CEO Brian Cornell regrets his company's policy announcement welcoming men to use women's restrooms and dressing rooms.You can read the entire WSJ article at link above, but be aware that it requires a subscription. Copyright laws prohibit AFA from providing the entire article to you.

Apr 06 09:47

Jamie Dimon: ‘Something is wrong’ with the U.S.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has two big pronouncements as the Trump administration starts reshaping the government: “The United States of America is truly an exceptional country,” and “it is clear that something is wrong.”

Apr 06 09:46

IRS Seized Millions of Dollars from Innocent Citizens Because It Was Easier Than Going After Crooks

The IRS seized millions dollars from innocent individuals and businesses because it was easier than targeting terrorists and drug dealers, a new report from the Treasury Department’s internal watchdog has revealed.
A report from Treasury’s Inspector General found that the IRS misused a law aimed at cracking down on organized crime and terrorism to target innocent individuals and businesses. Agents adopted a policy of seizing cash before investigating for other wrongdoing because it was just easier to seize the money of innocent people than hardened criminals and terrorists.

“One of the reasons why legal source cases were pursued was that the Department of Justice had encouraged task forces to engage in ‘quick hits,’ where property was more quickly seized and more quickly resolved through negotiation, rather than pursuing cases with other criminal activity (such as drug trafficking and money laundering), which are more time-consuming,” according to the report .

Apr 06 09:38

BARCLAYS TRADERS ACQUITTED IN LIBOR MANIPULATION TRIAL

Two former Barclays traders have been cleared by a London jury of manipulating the key interest rate benchmark in a retrial which started six weeks ago.

Ryan Reich, a 35-year-old American, and Greek national Stylianos Contogoulas, 45, were both freed on unanimous verdicts at Southwark Crown Court.

It was their second trial on a charge of conspiracy to defraud after a jury last year could not reach a verdict. Four co-defendants have been jailed.

Both men had denied any wrongdoing when charged three years ago, reacted emotionally to the verdicts Thursday.

"For the last eight years I have consistently explained that I acted appropriately, honestly, and in accordance with the rules at the time," Reich said. "I am relieved and delighted to have been acquitted."

The Serious Fraud Office (SFO) has accused Reich and Contogoulas of plotting with other Barclays staff between June 2005 and September 2007 to skew the London interbank offered rate (Libor).

Webmaster's Commentary: 

I am hardly surprised; the rich rarely eat their own.

Apr 06 09:22

'Chinese hackers' linked to espionage campaign on board directors of Google, Amazon, IBM

Ahead of the trade summit this week between US President Donald Trump and his Chinese counterpart, Xi Jinping, security experts claim a nation-state hacking group conducted espionage on a number of key industry players and lobbyists with links to the talks.

Between 27 February and 1 March this year, the operation – dubbed "Operation TradeSecret" – used malware in an attempt to snoop on private-sector officials registering to the website of the National Foreign Trade Council (NFTC), Fidelis Cybersecurity revealed.

Webmaster's Commentary: 

With the recent revelations that CIA has developed the means to frame third parties for CIA hacking attacks, it is reckless and irresponsible to claim that China is behind these attacks. If you recall the Seattle APEC scandal from 1997, it was US agents that were breaking into computers to steal business secrets!

Apr 06 08:56

FLASHBACK 2009 - Even today it's a mystery “Does the FED actually possess all the gold that’s listed on …?”

Apr 06 08:35

How much longer will America’s malls last?

Apr 06 08:16

BOYCOTT SUCCESS: Starbucks BEGS Conservatives to Come Back

Proving that playing politics isn’t good business, the designer coffee giant concedes defeat.

Webmaster's Commentary: 

Personally, I don't plan to ever go into a Starbuck's ever again!

Apr 06 07:54

OPEC’s No.2 Goes Rogue: Plans 600,000 Bpd Oil Output Increase

Iraq has plans to boost its crude oil production by 600,000 bpd to 5 million bpd by the end of this year, regardless of its participation in OPEC’s production cut deal. Iraq is the cartel’s second-biggest exporter of crude and has been the most disinclined of all parties to the agreement since its inception, with a lot of observers expecting it to be the first one to cheat.

Apr 06 06:58

Spain’s Most Italian Bank Still “Solvent,” Claims Finance Minister

It just doesn’t let up with this bank.

Apr 05 15:41

The Elite Admit That Something Is Wrong With The Economy, But It's Not Their Fault

Trump keeps promise and donates salary to National Park Service. Ralph Lauren closing store in NY. 2017 Retail bankruptcies are surging this year. The next subprime crisis is here and the corporate media doesn't want to talk about it.

Apr 05 14:58

The Bankers’ Free Lunch Continues

In their posts in CounterPunch, the economists Michael Hudson, Rob Urie, Paul Craig Roberts, Dean Baker, and others, have long provided ample, indeed incontrovertible, evidence that non-retail banking in the US and UK is one colossal racket.

Retail banking is of course still a racket, albeit on a somewhat less egregious scale.

Apr 05 14:46

#Carmaggedon Not Yet, But Another Wheel Came Off

“We think the industry is plateauing at some levels.”

Apr 05 14:23

The Real Reason The Federal Government Have Been Keen to Blame Russia for Everything: Gold

As we reported on March 30, China and Russia are taking steps to move away from their out of control “cousin”, the Federal Reserve Note, U.S. dollar, world reserve currency.

Apr 05 14:14

George Soros is the secret financier behind Kushner-backed startup Cadre

George Soros’ Soros Fund Management has quietly been financing the Kushner-backed real estate finance startup Cadre with a substantial credit line, according to sources familiar with the matter.
A source familiar with the financing arrangement told The Real Deal that “Soros has had a long and productive relationship with the Kushner family.” Another source told TRD that Kushner Companies TRData LogoTINY president Laurent Morali played a key role arranging the financing, but a Kushner Companies spokesperson disputed that account, claiming that “Kushner Cos. has never been involved in Cadre in any capacity
Business Insider first reported the existence of $250 million credit line in June, but didn’t mention its source.

Apr 05 13:57

Fannie and Freddie’s New Bubble

Apr 05 12:15

Outlining The Potential Causes Of The Next Financial Crisis

The next financial bubble is just about ready to burst and there is little that can be done about it.

Apr 05 11:35

The housing ATM is back in service! Black Knight Financial Services reports that 44 percent of Q4 refinances were cash-outs, highest equity drawn in eight years.

Have you heard the good news brothers and sisters? The housing ATM is now back in working order. Hallelujah! Black Knight Financial Services reported that in Q4 of 2016 44 percent of refinances were cash-outs. Meaning, people are now using their homes like ATMs which flies in the face of all the house humpers who continually act as if people are acting prudent in buying crap shacks. No, people are sucking on the teat of housing mania and now they are drinking from the nectar that is being produced. This percentage was the highest level of cash-outs in the last eight years. What was happening eight years ago? The housing market was imploding in epic fashion and nearly 8 million people lost their homes to foreclosure. Many lost their homes because they took out HELOCs and Home Equity loans to live beyond their means. I have to make this point since people always forget – the vast number of foreclosures happened on traditional vanilla 30-year fixed rate mortgages.

Webmaster's Commentary: 

When the real-estate bubble bursts, all those homes that cashed out their equity will be in serious trouble.

Apr 05 10:33

Bay Area Economic Outlook Buckles under Strains

Nearly half the millennials “likely” to leave.

Apr 05 09:55

Partner At Paulson & Company Jumps To His Death In Midtown Manhattan

A 56-year-old partner at Paulson & Co., who was best known for losing billions of his clients' money to Bernie Madoff's Ponzi scheme when he ran the Fairfield Greenwich fund of funds, leaped to his death from the luxury Sofitel hotel in midtown Manhattan. Charles W. Murphy was wearing a dark business suit when he plunged to his death from the 24th floor of the 45 W. 44th St. building at around 4:42pm on Monday.

Webmaster's Commentary: 

A lot of people connected to the Madoff scam are suddenly dying.

Apr 05 09:30

Robots Take Over – The Apparel Production

First big scale shoe robot factory unveiled: Adidas will use machines to make shoes in Germany instead of humans in Asia

Apr 05 08:59

Another Algore Fraud

I am not sure why, but I have had a lot of people ask me recently about flex fuel vehicles, what they are, and if they should use E85, since it is cheaper than gasoline.

Flexible fuel vehicles (FFVs) are designed to run on gasoline or gasoline-ethanol blends of up to 85% ethanol (E85). Except for a few engine and fuel system modifications, they are identical to gasoline-only models.

Apr 05 08:16

Bribery: New Documents Show IRS Targeting Scandal Was More Expansive

New documents obtained by government watchdog group Judicial Watch show the IRS targeting scandal was more expansive than previously known and show IRS officials admitting the tactics used to hinder conservative groups were inappropriate. The documents, which total 695 pages, were previously withheld by the Obama administration from Congress and were not included in the Congressional investigation into IRS abuse.

Apr 05 08:03

The Level Of Stupidity Engulfing The Country Has Reached Epic Proportions, All The Pieces Are In Place For An Epic Stock Market Crash

If you prefer fake news, fake data, and a fake narrative about an improving economy and stock market headed to 30,000, don’t read this fact based, reality check article. The level of stupidity engulfing the country has reached epic proportions, as the mainstream fake news networks flog bullshit Russian conspiracy stories, knowing at least 50% of the non-thinking iGadget distracted public believes anything they hear on the boob tube.

Apr 05 07:58

Brazilians whacked: Crooks hijack bank's DNS to fleece victims

Rather than picking off online banking customers one by one, ambitious hackers took control of a Brazilian bank's entire DNS infrastructure to rob punters blind.

The heist, detailed by security engineers at Kaspersky Lab, took place over about five hours on Saturday October 22, 2016, after the miscreants managed to get control of the bank's DNS hosting service using targeted attacks. They managed to transfer all 36 of the bank's domains to phony websites that used free HTTPS certs from Let's Encrypt. These sites masqueraded as the bank's legit online services, tricking marks into believing the malicious servers were the real deal. That allowed the crims to steal customers' usernames and passwords as they were typed into the sites' login boxes.

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