Mar 12 06:50

'Staggering': $90 billion lost in resources tax

An Oxford University expert says Australia would be $90 billion better off if it adopted European-style resource tax policies and argues the Turnbull government has given up on collecting a meaningful amount of revenue from some of its most valuable resources.

In one of a suite of new submissions to a Senate inquiry, Oxford Institute for Energy Studies academic Juan Carlos Boué warned unless Australia "radically overhauled its fiscal regime" it would have the second lowest share of government revenue from oil and gas in the world.

Australia is on track to eclipse Qatar as the largest exporter of gas by 2020, but is expected to only earn $600 million in 2018 - the same amount of revenue the government earns in beer tax every year - compared to Qatar's $26.6 billion.

Mar 11 16:26

Dow Jones Index Long-Term

Mar 11 10:22

Buying Stocks Doesn’t Make You an Investor

Mar 11 10:11

Trump sets sight on SINKING Merkel's economy: US-EU trade war could spark CRISIS

PRESIDENT Trump could be set to unleash a ten percent tariff on the German car industry, in retaliation to the escalating trade war between the US and EU – a move that could potentially derail the start of Angela Merkel's fourth term in power.

Mar 11 10:08

With Friends Like These: EU Threatens to SUE the UK if Trump Exempts British Steel Industry from Tariffs

The European Commission has taken the extraordinary step of threatening to sue the United Kingdom if President Trump exempts Britain from U.S. tariffs on steel and aluminium.

The U.S. President has suggested that the tariffs — designed to protect the American aluminium and steelworkers from foreign dumping, as their industry is a strategic asset — will not be applied to all of America’s allies, with NAFTA members Canada and Mexico already being offered exemptions.

But the European Commission — the unelected body with acts as the EU’s executive as well as the sole initiator of EU-level legislation — has reacted with fury to British trade secretary Liam Fox suggesting that the United Kingdom will try to “maximise the UK’s case” for a similar exemption and threatened to sue the country if it does not suffer along with the rest of the bloc, the Telegraph reports.

Mar 11 09:40

Rigged? NYFed Slams Study Showing Alleged Collusion Between Fed, Banks Around FOMC Meetings

Back in 2015, we detailed a study by researchers at Duke University and the University of California at Berkeley pointing to quantitative evidence that The Fed consistently leaks non-public information about its meetings.

The study, first reported by The Daily Californian, considers historical patterns in stock prices relative to the distribution of non-public Fed information. “The Fed uses ‘informal communication channels’ on even-numbered weeks after FOMC meetings,” the report said, pointing to leaks making it into media stories such as the Wall Street Journal as well as showing up in private financial advice.

Mar 11 04:30

The 2018 Bear Market Is Over…For Now

Mar 10 13:25

Trade Deficits And Fiat Currencies

Mar 10 12:40

Goldilocks And The Liquidity Bears

Mar 10 11:08

The Global Economy’s Wile E. Coyote Moment

Mar 10 10:38

Letting The Chips Rise Where They May

Mar 10 09:22

POTUS Will Ask The People, Do We Need The Fed?

Wholesale trade sales decline this is one of the biggest drops since 2 years ago. The Housing market is doomed, everything has been engineered away from the big banks to non-banks and when the crisis hits they will take the fall.

Mar 10 09:02

The Everything Bubble---Waiting For The Pin

Mar 10 07:59

Russian farmers feeding half the world thanks to biggest grain harvest ever

This season's grain production in Russia has beaten last year's bumper crop and the record harvest set by the USSR in 1978, according to new data revealed by the statistics agency Rosstat.

Russia has harvested around 135.393 million tons of grain, including 85.9 million tons of wheat, during the current growing season. This is a million tons more than the previous record. Russia’s agriculture ministry revised its projections for exports, with 50 million tons of grain now expected to be shipped abroad.

Webmaster's Commentary: 

And it is all non-GMO!

Mar 10 04:35

Americans still haven't learned

Mar 09 16:18

Jobs Report BLOWOUT Numbers, Best In 2 Years…

The U.S. economy is booming. The internals on the job numbers were fantastic.


Mar 09 15:07

Interbank Market Collapsing

Mar 09 13:44

A Follow-Up On 3 Charts

Mar 09 13:11

Are Stocks for Suckers?

Mar 09 12:46

Total Bank Credit

Mar 09 11:54

Doc Copper vulnerable to fall hard from here

Mar 09 10:42

America is Disneyland

By Chris Kanthan

Disneyland is the Happiest Place on Earth! Millions of families visit the theme park every year to enjoy the magical place of rides, spectacular shows and cheerful cartoon figures. Everything is clean, perfect and joyful. Unless … you realize that Cinderella might actually be homeless. That’s right, 10% of Disneyland’s employees are actually homeless, many more are on food stamps, and 75% struggle to make ends meet.

Does this ring familiar? Think of America. Behind the façade of being the greatest country on Earth with the largest GDP and the wealthiest billionaires, there are tens of millions of Americans who are left behind just like Disney’s employees...

Mar 09 10:09

America's Economic Future. Prepare Yourself.

Mar 09 09:56

Rothschild passing dynasty on to 7th generation, marking 200 years of banker family rule

The Rothschild banking empire will ensure that its control continues to stay within the family for a seventh generation as David de Rothschild, 75, is set to hand the role of chairman over to his son, Alexandre de Rothschild, 37, in June.

Mar 09 09:40

Tariff May Have Just Revealed Trump’s Plan for Income Tax… and It’s Massive

In his 1888 book “The Tariff History of the United States,” noted economist Frank William Taussig says that American steel tariffs as high 90 percent (or over) on British steel in the wake of the Civil War allowed the American steel industry to flourish while simultaneously (this is a key point here; you may want to write it down for the test later on) helping pay the nation’s bills.

Mar 09 09:39

The Economy Has Never Recovered, It's An Illusion, Wake Up

Uk retailers getting hit hard, just like in the US. This is spreading to all countries. Credit card usage starts to slow, people are maxed out, we saw this right before the crash of 2008.

Mar 09 09:35

Bitcoin Rigging Operation repeatedly done by Mt. Gox Trustee during last 3 months... Exposed !!!

Bix Weir released this YouTube video & explains the intentional manipulated crashes of Bitcoin during the last 3 months.

Bix explains that the Mt. Gox Trustee sold about $500 million worth of Bitcoin between December 2017 to February 2018, in what certainly appears to be a coordinated, manipulated event.

The Blockchain data shows the sale directly correlates to the December crash and subsequent price crashes in bitcoin.

Mar 09 09:33

The President Wants To Execute Drug Dealers. Will That Include Those Convicted Of Cannabis Crimes?

While Attorney “good-people-don’t-smoke-marijuana” Jeff Sessions wants to amplify the war on drugs, don’t forget who appointed him: Donald Trump.

Although President Trump has, for the most part, stayed silent on drug policy, one of his alarming stances has recently been revealed, with five sources confirming to Axios that Trump has privately discussed being in favor of the death penalty for drug dealers.

Indeed, Trump has been ranting and raving about Singapore’s drug policies, with an Axios source claiming of the US president, “He says, ‘When I ask the prime minister of Singapore do they have a drug problem [the prime minister replies,] ‘No. Death penalty.’”

Mar 09 09:08

L.A. homeless crisis grows

Mar 09 08:55

The Latest Bezos Casualty: Claire's To File For Bankruptcy

First Toys "R" Us getting ready to liquidate, and now that other famous pre-crisis retail LBO, Claire’s Stores, the tween fashion accessories mecca where "legions of preteens got their ears pierced", is preparing to file for Chapter 11 in the coming weeks, Bloomberg reported.

The company, which was LBOed by Apollo in 2007, is set to hand over equity control from Apollo to key creditors including Elliott Capital and Monarch, with Bloomberg noting that Venor and Diameter Capital Partners are also involved. The move should help ease the $2 billion debt load at Claire’s, although just like with Toys, it may merely be delaying the inevitable liquidation (it took Toys less than 6 months to go from Chapter 11 to 7).

That said, Claire's bankruptcy is hardly a surprise: the mall anchor retailer was prominently featured in our November piece, "A Look At America's Retail Apocalypse In Charts" in which we highlighted the firm for its massive debt load and upcoming debt maturities.

Webmaster's Commentary: 

Everyone likes to blame online retail for the problems, but online sales amount to only 2% of consumer spending. Online sales are being used as a scapegoat to conceal the fact that the real problems is that Americans simply do not have the money to buy things beyond immediate survival any more.

Mar 09 07:52

Billions Flown From Gaddafi 'Frozen Funds' in Belgium

Belgian authorities have discovered the disappearance of 10 billion euros of frozen Libyan assets kept in the Euroclear Bank during the period 2013 to 2017, according to the Le Vif weekly paper.

According to Le Vif magazine, these funds were controlled by the inner circle of ousted and killed Libyan President Muammar Gaddafi.

Over 16 billion euros were located in four accounts opened for the Libyan Investment Authority and Libyan Foreign Investment Company.

The Belgian authorities found the disappearance of a significant part of these funds in the fall of 2017, when an investigation into money laundering sought to seize the 16 billion euros. It turned out that on the four accounts just over 5 billion euros remained.

Mar 09 07:52

Trump vows tariffs will be 'very fair,' names winners and losers

President Donald Trump vowed to be flexible toward "real friends" of the United States as the White House prepared Thursday to roll out punitive trade tariffs -- singling out Germany for criticism and adding Australia to a list of likely carve-outs.

Mar 09 07:50

'It's Unclear Where the Whole Idea of Europe's Unification is Going' - Analyst

The European Commission has heavily criticized seven EU states for their aggressive tax policies. EU economic affairs commissioner Pierre Moscovici has pointed the finger at Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands, arguing that they offer complex tax schemes to help international companies avoid high taxes.

Mar 09 07:43

Republicans are about to deregulate banks — with Democratic support

In the next week, the Senate is expected to pass the Economic Growth, Regulatory Relief, and Consumer Protection Act, a bill that rolls back some of Dodd-Frank’s financial regulations and widens existing loopholes.

Republicans drafted the bill. But it has 12 Democratic co-sponsors, giving it a filibuster-proof majority.

The legislation exempts banks with less than $10 billion in assets from the Volcker Rule (which bars commercial banks from some speculative trades) and various mortgage requirements; allows banks with between $50 billion and $250 billion in assets to operate with less regulatory scrutiny; and directs the Federal Reserve to tailor regulations to the specific balance sheets of the bigger banks, rather than enforcing rules equally across the board.

Most Democrats don’t like the bill. But in my conversations, they don’t see it as an enormously consequential rollback of their Wall Street reforms either.

Mar 09 07:32

A smartphone recession is coming and animated poo emojis can't stop it

"Smartphone sales are starting to decline at an accelerating rate," a market analyst has declared. In a pessimistic note, Jeff Johnston of Arthur Wood Research blames feature ennui.

When sector design leader Apple devoted a significant portion of a flagship device launch event to an animated poo emoji, one detects an industry running out of good ideas.

Johnston poured water on the idea that retail orders for Samsung's Galaxy S9 will be 10 to 15 per cent higher than last year – he estimated them falling some 50 per cent on 2017's Galaxy S8.

Mar 09 07:24

Open letter to school boards, teachers’ unions, families: Funding crisis for all public goods & services already solved by Ben Franklin with monetary reform and public banking, backed by Thomas Edison, 86% of Economics professors

*hyperlinks/videos live at source*

In fields of specialized knowledge, we aim to render an account that is plain and simple, yet does no violence to the difficulty of the subject, so that the uninformed reader can understand us while the expert cannot fault us. We try to keep in mind a saying attributed to Einstein—that everything must be made as simple as possible, but not one bit simpler. ~ A letter from the publisher, Time Magazine, 1962

This is an open letter that I will share with leaderships within my own school board and teachers’ union. I will follow-up with their responses.

Colleagues and I presenting this data have written and presented at professional international economic conferences and have zero challenges to this information, such as this 2015 paper to ~2,000 people at an international economics conference at The Claremont Colleges, and this 2012 paper.

Mar 09 06:41

Bitcoin Double Top?

Mar 08 18:07

Toys "R" Us Preparing To Liquidate

The once iconic toy retailer is set for the dust bin of history, and having failed to find a buyer in bankruptcy court is preparing for the final indignity: liquidation.