ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Dec 10 20:18

Turkish citizens rush to exchange US dollars for Lira

The Turkish economy is having a hard time, with the Lira stumbling against the US dollar.

Dec 10 17:13

Demonitization And Gold Price Surge In India

An excellent discussion of the cash situation in india, this helps clarify what is happening and why.

Dec 10 15:25

Save our planet: Worldwide air pollution is making us ill

Graham Peebles highlights the magnitude of the problem of air pollution that is poisoning many people, especially the poor, and underlines the fact that the responsibility for resolving it lies with each one of us.

Dec 10 15:09

Central Bankers Tested,Bail-Outs,Bail-Ins,Banning Cash,Next Gold Confiscation

Consumer confidence surges to new heights, we have seen this prior to the crash of 2008.

Dec 10 12:11

3 Troubling Signs That We’re Still on the Brink of Economic Disaster

There are several reasons why I’m still very concerned about our economy. A lot of people are breathing a sigh of relief with Donald Trump as the President-Elect, but through no fault of his own, he is on the precipice of a massive disaster.

If you’ve been prepping but then stopped because you thought everything will be just fine now that Trump will be taking the reigns, please read this with an open mind. It may be one of the most significant round-ups of information that I’ve written.

Dec 10 11:01

If Everything is so Bullish, Why Are Bank Insiders Dumping Their Shares at Record Pace?

What are they seeing from their perch that we don’t?

Dec 10 09:59

Boom! Dow Chemical CEO Announces New Plant in Michigan at Trump’s Grand Rapids Rally

Dow Chemical CEO Andrew Liveris spoke at Donald Trump’s Thank You rally in Grand Rapids, Michigan on Friday night.

Liveris will head up Donald Trump’s Manufacturing Council.

Dec 10 09:26

Scott Adams: The Time That Reality Forked Right in Front of You

We’re living in one of the most interesting times in human history. We just witnessed reality forking into two separate paths right in front of us.

As regular readers of this blog know, my background in hypnosis and persuasion has erased my belief that some people can see reality for what it is and some cannot. My worldview is that the human brain did not evolve to understand reality on any deep level because we don’t need that ability to survive and reproduce. If your illusion keeps you alive, it’s good enough. And that brings me to today.

Dec 10 04:28

Trump's TAX PLAN: 12%, 25%, 33% - How it affects YOU

“Reduce taxes across-the-board, especially for working and middle-income Americans”: that was Trump’s campaign pledge.

Dec 09 23:31

Scott Adams: Watching Trump Create Money from Nothing -- Also some Climate Change Stuff

Trump, the Master Persuader, is rewiring our brains in real time – while we are watching him do it. He wants us to be optimistic about the economy, so he finds the right buttons (Ford, Carrier, Boeing) and he pushes them. He looks for situations that have simplicity and a visual element. It is easy for people to imagine a Ford automobile, a Carrier air conditioner, a factory, a worker, an airplane, and Mexico. Every element of these stories is visual. That’s not an accident. That is technique.

On Climate Change

Trump is also well on the way to changing the public’s thinking on climate change. Trump met with Al Gore, and he’s meeting with climate activist and actor Leonardo DiCaprio on the topic. Trump is looking for common ground and education on the topic, I assume, but he is almost certainly also looking for the persuasion buttons. And this is a hard one.

Oh, I can't wait until he tackles reopening the 9/11 investigation . . . .

Dec 09 17:17

QE in the EU: Dario Marghi & the Taper that Never Was. Or not.

Anyway, there’s Mario Draghi, Europe’s most unaccountable banker, the Prince of Darkness and President of the European Central Bank, sitting in front of lots of cameras, hacks and scribbling hands. It is, as David Coleman used to say, The Big One.

Dec 09 16:53

Monte Dei Paschi shares and bonds COLLAPSE as ECB REFUSES lender more time for rescue plan

PANICKED creditors have dumped holdings in embattled Monte Dei Paschi di Siena (MPS) amid fears their cash is about to go up in flames ahead of a looming bail-in for the Italian bank.

Dec 09 14:25

Market Insanity Reaches Record Highs As Investors Flock Into The Biggest Bubble In History

Investors have forsaken all reason, logic and wisdom by rushing into the biggest stock and financial bubble in history.

Dec 09 14:18

Post-Brexit Plunge In Immigration Won’t Push Up Wages – Report

Despite claims made by Leave campaigners, a new report says Brexit will have a minimal impact on wages in Britain, with plummeting migration numbers leading to a mere 1 percent rise in pay.

According to a forecast by the National Institute of Economic and Social Research (NISR), migration from the European Union into Britain is expected to fall by as much as 91,000 a year as freedom of movement agreements are predicted to be scrapped. The drop could, however, trigger economic depression and cause Gross Domestic Product (GDP) to slump to 3.4 percent per person by 2030 according to estimates.

Dec 09 13:32

Bill Bonner: Trump’s $64 trillion tower of debt

We continue our humble look at things very old and very new, annoying many dear readers. Many seem to think that “The Donald” really is the savior they’ve been waiting for. So we listened intently last Sunday hoping for an insight.

Dec 09 13:29

The Economic Indicators Turn To The Dark Side

JP Morgan quant warns we are moving towards the dark side. The next domino to fall is the Italian banks and it will spread.

Dec 09 13:14

Homeless People To Be Fined Up To $1,300 For Sleeping On Sidewalk

Homeless people could be fined up to £1,000 for sleeping in doorways near popular tourist spots, under new rules launched by a London council.

It’s not clear how destitute rough sleepers are expected to pay.

Dec 09 12:52

The grim truth of Chinese factories producing the west’s Christmas toys

Xiao Fang thinks she’s one of the luckier workers making Barbie dolls for the Christmas market at the Mattel toy factory in Chang’an.

True, she says, she works 11-hour days, six days a week, and shares a dormitory with nine other women and gets to see her husband only once a week. She had to leave her three-year-old daughter back home in Sichuan. And there is only a communal bathroom, and if they want hot water they must fetch it from another floor. But at least she has a job, she says. And others have it worse.

Xiao is one of thousands of workers in Chinese factories making some of this year’s must-have Christmas toys.

An investigation with the US-based NGO China Labor Watch reveals that toys including Barbie, Thomas the Tank Engine and Hot Wheels were made by staff earning as little as 86p an hour.

Webmaster's Commentary: 

This is where the American consumer has to be using a lot of what my late grandfather called "horse sense", and not allow themselves and their kids to be propagandized as to what is the "must have" toys are for this Christmas, when the toys are made through the practice of nearly slave labor conditions.

The issue of propaganda is very clear to see in commercials; buy the toy, use the product, and you will be happy, as though acquisition, and conspicuous consumption, is the "drug" that will get you there.

But the problem with this drug is, it always wares off,leaving you and your kid hungry for another "fix".

Talk to your kids, if they are of appropriate age to understand, about the fact that the toys they may have their heart set on, are made in slave labor conditions, and you cannot support buying that toy for this reason, but will find a wonderful treat for them somewhere else.

There are many local artists, in many areas, of this country, who make dolls and crafts; why not focus on something like that instead?!? It will probably last longer than any mass-produced toy, be a small way of getting money back into the American system, and be a unique, and treasured part of your kid's life for a long time.

IF you google "American hand made dolls", you will be very surprised at what you find.

If the child is old enough, share with them about alternative giving, and why it is a good thing. Make it a habit to share the gift of caring with them, by donating to a local food bank, or another local charity with which you have a strong resonance, this Christmas season.

Kids who learn to care about others early, and how important it is, grow up to be adults who care for others in this world, and act accordingly.

Dec 09 12:00

Who the Heck are these Households that are Worth $90 Trillion?

Stalled Economy Performs Wealth Miracle, reports the Fed

One thing is working in this economy that has been stuck for years in a slow-growth mire: the inflation of asset prices. And the Federal Reserve, which has been engineering this miracle so adroitly, just released its latest progress report.

Dec 09 11:58

The Worst Thing to Happen to the U.S. Dollar Since 1913

Financial freedom could soon be a thing of the past…

At Casey Research, it’s our job to tell you about situations that threaten your financial well-being. Usually, these are direct threats to your wealth. Think a stock market crash or bond market collapse.

But occasionally, we'll tell you about other kinds of threats. Today is one of those days…

In this issue, we’re going to talk about the “War on Cash.” As you may know, this is an ongoing effort by governments to eliminate paper money. This war is being waged across the world…and it's picking up steam.

Dec 09 11:37

Dallas Pension Fund - From Bad to Worse

2017 will be the year of failing pension funds both private and public around the nation

Dec 09 09:55

Is the U.S. Workforce Nearing Full Recovery? Don’t Trust the Unemployment Rate for the Answer!

Today’s economy doesn’t offer much of an encouragement.

Dec 09 09:55

Bombshell Dropped in Federal Court: Proof of a Silver Market “Mafia” Among Big Banks

Lawyers representing traders who allege they were ripped off by a group of colluding global banks filed eye-popping evidence in a Manhattan Federal Court yesterday showing that even as global banks were being criminally probed for rigging currency markets, they continued to engage in rigging the silver market, with a UBS trader referring to the group as the “mafia.”

Dec 09 08:54

Ron Paul: Here’s How You Can REALLY Bring Jobs Back to America

Dr. Ron Paul tells Ameera why he thinks President-Elect Donald Trump shouldn’t be dealing with individual companies like Carrier and should instead be focused on broader economic reforms, including tax cuts.

Dec 09 08:44

Post-Truth: Facts Pale by Comparison

By Susan Boskey

Chuckling to myself, I could not pass up the opportunity to highlight the Oxford Dictionaries’ international word of the year for 2016, post-truth, an adjective defined as:

"relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief" ...

Dec 09 08:34

CONFIRMED: Banks Rigging Silver Market

According to the plaintiffs, records surrendered by Deutsche Bank show traders and submitters coordinating trades in advance of a daily phone call, manipulating the spot market for silver, conspiring to fix the spread on silver offered to customers and using illegal strategies to rig prices.

“Plaintiffs are now able to plead with direct, ‘smoking gun’ evidence,’ including secret electronic chats involving silver traders and submitters across a number of financial institutions, a multi-year, well-coordinated and wide-ranging conspiracy to rig the prices,” the plaintiffs said in their filing. The new scheme “far surpasses the conspiracy alleged earlier.” – Bloomberg.com, December 7, 2016

Dec 09 08:17

Record UK exports drive huge narrowing in trade deficit

Record exports drove a significant reduction in Britain's monthly trade deficit in October, setting a "solid base" for growth in the final quarter of the year.

Exports of goods rose by £2.1bn to £26.8bn in October, according to the Office for National Statistics (ONS).

This is the highest level since records began in 1997, and was boosted by strong goods exports to non-EU countries, which jumped to a record £14.4bn.

The increase also pushed up total exports of goods and services to a record level of £46.4bn, though this was driven solely by goods.

Recent surveys suggest the fall in the value of the pound since the Brexit vote has helped exporters to become more competitive.

Dec 09 07:06

Are We Being Set Up For A Crash? Stocks Hit A Level Only Seen During The Bubbles Of 1929, 2000 And 2007

Will the financial bubble that has been rapidly growing ever since Donald Trump won the election suddenly be popped once he takes office? Could it be possible that we are being set up for a horrible financial crash that he will ultimately be blamed for?

Dec 09 03:12

Time Is The Enemy of The Central Bankers As The Economic Illusion Disappears

The job market is now rolling over, the rate of hiring is in full decline mode.

Dec 08 20:21

India cash crisis: 100,000 villages promised electronic payment machines

Tens of thousands of Indian villages will soon be equipped with card-swiping machines to boost cashless payments, the finance minister promised on Thursday, a month after the government banned high-value banknotes.

Prime Minister Narendra Modi sparked chaos with his shock announcement last month that all 500- and 1,000-rupee notes – which make up 85% of bills in circulation – would cease to be legal tender.

The move triggered a chronic shortage of cash with people queuing for hours outside banks across the country to get rid of their old notes.

Cash accounts for 90% of transactions in India where millions rely heavily on notes for their daily purchases. People living in rural areas and individuals without bank accounts have been particularly hard hit.

Dec 08 20:05

In Unprecedented Move, Dallas Pension System Suspends Withdrawals

"Merry Christmas, mayor. Hopefully you have a good Christmas because you have successfully screwed over the retirees, the firefighters and the police officers."

Dec 08 16:17

Euro Devaluation Accelerates – Millions Of Europeans Wishing They’d Bought Gold

The fact is that the eurozone is coming apart at the seams and the only tool left to delay the inevitable is easier money. As the following chart illustrates, the euro has been declining since 2008, with the descent accelerating lately.

Dec 08 12:44

Texans Close their Wallets, Houston’s Economy Gets Crushed... It’s Not Just The Oil Bust.

Sales tax collections in Texas in November fell 2.7% compared to November 2015 and are down 5.9% year-to-date, according to the Texas Comptroller of Public Accounts.

Dec 08 12:29

This chart could be signaling a rally in gold stocks

Gold Mining stocks started off the year like a rocket ship. Over the past 20-weeks, the popular Gold Miners ETF (GDX)has declined nearly 35%. This is one of its larger 20-week declines in its history! Create an opportunity?

Dec 08 11:44

Here’s what happens when a currency completely breaks down

In Venezuela, hyperinflation has become so pitiful that shopkeepers are no longer bothering to actually count money.

Instead, they’re weighing it…

Dec 08 10:45

India Confiscates Gold, Even Jewelry, In Raids On Hidden Money

Global financial repression picks up steam, led by India. After declaring large denomination notes illegal, India now targets gold.

It’s not just gold bars or bullion. The government has raided houses, no questions asked, confiscating jewelry.

Dec 08 10:19

DEUTSCHE BANK PROVIDES “SMOKING GUN” PROOF OF MASSIVE RIGGING AND FRAUD IN THE SILVER MARKET

Back in April, when we first reported that Deutsche Bank had agreed to settle allegations it had rigged the silver market in exchange for $38 million, we revealed something stunning: “in a curious twist, the settlement letter revealed that the former members of the manipulation cartel have turned on each other”, and that Deutsche Bank would provide docments implicating other precious metals riggers.

To wit: “In addition to valuable monetary consideration, Deutsche Bank has also agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement. In Plaintiff’s estimation, the cooperation to be provided by Deutsche Bank will substantially assist Plaintiffs in the prosecution of their claims against the non-settling defendants.”

Webmaster's Commentary: 

There should not only be financial compensation to the plaintiffs; there should also be jail time for every executive who signed off on these practices!!

Dec 08 10:04

“We’ll Look at Everything”: More Thoughts on Trump’s $1 Trillion Infrastructure Plan

The Trump agenda, it seems, is not set in stone. The president-elect has a range of advisors with as many ideas. Steven Mnuchin, his nominee for Treasury Secretary, said in November that “we’ll take a look at everything,”even the possibility of extending the maturity of the federal debt with 50-year or 100-year bonds to take advantage of unusually low interest rates.

Steve Bannon, appointed chief White House strategist, seems to be envisioning Roosevelt-style experimentation with whatever works. “We’re just going to throw it up against the wall and see if it sticks,” he said in an interview posted by Michael Wolff on November 18th:

Dec 08 09:50

Stocks AND Volatility Indices Both Jump – Who’s Right?

Today saw the VIX solidly higher despite the fact that stocks rallied hard; what do similar precedents tell us?

Dec 08 09:35

Sears top executives flee money-losing company amidst speculation that the onetime retail giant will file for bankruptcy

Is time running out on Sears?

The once dominant American retail chain has seen two of its top executives leave the company this week, fueling speculation among investors that it will soon declare bankruptcy, Business Insider is reporting.

Dec 08 09:33

How Will Trump Handle the Financial Crisis He Is Inheriting?

While we’ve all been hoping that President-Elect Trump will fix the financial disaster we find ourselves nearing, no one can deny that the man is inheriting a mess. During the Obama administration, our national debt climbed to heights never seen before and the President kicked the can squarely into Trump’s playing field.

If the expected economic disaster occurs, it isn’t going to be because of anything Donald Trump has done wrong. The blame can be laid squarely on previous administrations. However, when we’re dealing with the economic collapse of America, that will be of little solace.

Dec 08 09:09

Buy Silver – May Replace Gold as Preferred Money of India

The Indian government has been trying to reduce its citizens’ demand for imported gold through a number of means over the last few years. This is part of a wider crackdown on currency used in the black market, that included the withdrawal and replacement of its two largest-denomination bank notes in early November. The strategy will likely have some unintended consequences if we take our cues from the events of 1910.

Webmaster's Commentary: 

The name "Black Market" is used to create a negative connotation, bolstered by lurid stories of drugs, organs, and children being bought and sold. But in actuality, the black market is any transaction that occurs outside government monitoring and bank profiteering. If you sell your old computer on Craiglist and are paid in cash, leaving no record, technically that is the Black Market.

The goal here is not to curb the drug/organ/human trade but to force everyone into dependence on the banks to handle their commerce for them, with the banks charging ever higher fees in their monopoly, and governments taxing every single transaction.

Dec 08 09:06

UK £6 Billion Worse Off After Multi Billion Pound Gold “Accounting Error”

UK failed to measure huge imports of gold coins and bars after Brexit vote

Dec 08 08:56

Dismal Jobs Report — Paul Craig Roberts

The presstitute media delivered the false news, not from Russian propaganda websites such as the Washington Post accuses this one of being, but from Obama’s US Bureau of Labor Statistics. The false news is that the collapsing economy continues to boom with 178,000 new jobs in November and a further fall in the rate of unemployment to 4.6%.

What are the facts? Nothing you will ever hear from the presstitutes or the corrupt Obama regime.

The facts are that November produced only 9,000 full time jobs, an improvement over the previous month when full time employment declined by 103,000 jobs—another fact that you did not hear about from the presstitutes.

According to the BLS payroll jobs report, the jobs available in November were waitresses and bartenders, temporary help, and ambulatory health care services. These are not the kind of jobs that result in home ownership or an independent existence.

Dec 08 08:00

Interest rates only done this two times in 35-years!

Interest rates have shot up since this past July. Have they “stretched too far too fast?”

Dec 08 07:59

Dow 20,000: Globalists are setting up the perfect storm of financial apocalypse to be unleashed once President Trump takes office

It’s all so obvious at this point. Hilariously, there are no more “markets” in the market anymore; everything is rigged to rise or fall based on what serves the interests of those pulling the strings. Supply, demand, risk and scarcity no longer function in any rational way whatsoever, and that means the end is rapidly approaching for the “everything is awesome” debt bubble chapter of human history.

Dec 08 07:47

$300 Trillion Time Bomb: The Total Amount Of Debt In The World Is About Three Times The Global GDP Which Means Every Bit Of Potential Collateral Is Pledged To Someone, Somewhere In Some Fashion.

Some debt is actually listed as both an asset and a liability. Your mortgage is most likely in some sort of synthetic financial instrument as an asset against which there is some form of debt. Government bonds are used for collateral, as they are often considered the most reliable and trustworthy asset on earth. Banks soak up US debt, for example, because it is worth more to the bank than their cash deposits, as they can quickly package bonds into other financial transactions like repo agreements.

Dec 08 06:38

Top Ten Videos — December 6

The end of globalization and dawn of the “fake news” era. Bernie Sanders and Thomas Frank on why the Democrats lost. What’s next for gold (good things of course).

Dec 08 06:37

WINNING! U.S. Steel CEO Ready To Bring Back 10,000 Jobs! All Because Of Trump! Trump's Win Pushed Manufacturer To Return To The U.S. With Goal To Make All Of Its Products In America!

"U.S. Steel CEO Mario Longhi admitted that manufacturing challenges exist exclusively in the United States thanks to oppressive regulation set forth by President Obama.

Dec 07 22:33

Dr. Jim Willlie, Peter Schiff, and Bill Holter: Cracks Forming in Bond Markets (Videos)

After eight years of Obama’s disastrous economic policies, it’s understandable why Americans would want to be hopeful, and why they are consciously choosing to view the recent gains in U.S. equity markets as a harbinger of things to come under a Donald Trump presidency. Unfortunately, there is nothing to suggest the shifting sentiment toward the notion that Donald Trump can somehow fix our economy is warranted. In fact, it’s dangerous. Americans would be wise to heed a recent quote from Michael Snyder:

** “Now is not a time to party.  Rather, it is time to batten down the hatches and to prepare for very rough seas ahead. All of the things that so many experts warned were coming may have been delayed slightly, but without a doubt they are still on the way. So get prepared while you still can, because time is running out.”

Dec 07 20:18

20 Years Of Gold And Dollar Devaluation

President Nixon “temporarily” severed the weak link between gold and the U. S. dollar in 1971.  The link is still severed.

The economic well-being of most people and the sound dollar have suffered.  The dollar is no longer described as “good as gold” as it was 60 years ago.  Today we deal with mini-dollars and $ trillions instead of $ billions.

Dec 07 17:57

Is Gold About To Explode To The Upside?

Shariah Gold Standard Approved for $2 Trillion Islamic Finance Market, will gold begin to surge? The mainstream media goes all in on cashless society. Italy's Monte De Paschi.

Dec 07 16:46

Tightest US Mortgage Lending Standards In Over A Decade

Despite rising household formations, a solid job market and record low interest rates homeownership rates in the US are at an all-time low. One factor contributing to lower home ownership rates is tighter lending standards.

Dec 07 15:17

When it feels like 1929, quit the markets and go gold prospecting

The markets will always decide. The problem with that reality, however, is that markets are just collections of technology, directionalisers, cheats and run of the mill neurotics with issues. They screw up. Everywhere one looks on the bourses at the moment, frontal lobe syndrome rules, and the right sub-arachnoid hemisphere is in control. It’s time to restate the case for gold.

Dec 07 15:15

What We Talk About When We Talk About Class

In the course I teach on social class in America, I show students how capitalism generates inequalities in wealth, status, and power. What I offer is not a moral critique of capitalism but rather an empirically grounded analysis of how it works, at a nuts-and-bolts level, to create and maintain a disproportionate flow of material and symbolic resources to the capitalist class.

Dec 07 14:23

On Obama’s Nod, Major Defense Contractors Plan To Build Jets In India

The Obama administration gave the defense industry the go-ahead on plans to build classic American fighter jets in India.

Dec 07 14:14

U.S. Tech Startups: A Storm Is Brewing

Even as the Dow hovers in record-high territory, some sectors have slipped into a bear market. Venture capital for U.S. business startups is drying up. For many technology firms, "the game is already over."

Dec 07 12:46

Bill Holter: Every Society is Only 72 Hours From Pure Anarchy (Video)

It is often said that at any given moment, any society is only 72 hours away from complete anarchy. Why? Because even in the most affluent societies, there isn’t much more than a three day supply of food available. Once food runs out, economic conditions can deteriorate so quickly that they rival scenes found in big Hollywood blockbusters like Mad Max. Look at Venezuela for example, where people have been breaking into zoos, and killing the animals to eat for food. 

Don’t expect to hear it from our woefully dishonest mainstream media, aka the "fake media," but right now in the United States it is estimated that over 15 million teenagers have traded sexual acts on at least one occasion just so they can eat. Some “recovery” Obama talks about isn’t it? Just think, the country isn't even in a “crisis” yet (assuming that like Obama, you don't consider 15 million teenagers trading sexual acts for food a "crisis), but the key word there is yet.

Dec 07 12:43

Can Trump Leash His Pentagon ‘Mad Dog’ Mattis?

President-elect Donald Trump formally introduced his pick to lead the defense department Tuesday, as he brought his “thank you” tour to Fayetteville, North Carolina.

Will the mad dog be leashed? Ron Paul Liberty Report weighs in:

Dec 07 12:43

Trump Unleashes Economic MAGA Plan, Pledges Wall To Stop Drugs, Gangs, & Illegal Immigration

Trump outline several changes he is going to make during his first months in office to turn the economy around.

Dec 07 12:41

How Russia Outsmarted OPEC

OPEC’s historical deal to cut production has been sealed, and oil prices have jumped as a result, comfortably above the $50 per barrel mark. According to Lukoil’s vice president, Leonid Fedun, the average price of crude in 2017 could reach US$60 a barrel, thanks in no small part to that agreement.

Dec 07 12:31

US airline to charge passengers extra to use overhead lockers

United Airlines, one of the world’s largest carriers, is facing fresh criticism over plans to charge passengers extra for the use of overhead lockers.

Webmaster's Commentary: 

Next it will be pay toilets on those planes!

Dec 07 11:08

BRAZIL CRISIS: RIO RIOT POLICE BATTLE UNPAID WORKERS

Brazilian police have clashed with anti-austerity demonstrators in Rio amid a budget crisis in the state.

Many protesters were public workers who have not been paid in months.

Police used tear gas and stun grenades and at one point fired rubber bullets at demonstrators from inside a church near the state assembly building.

The clashes took place as legislators considered a range of spending cuts in an effort to tackle a huge deficit in Rio de Janeiro's state budget.

Hundreds of public sector workers had gathered outside the assembly building to protest against the measures.

During the clashes, police officers entered a nearby church and fired rubber bullets from a window. The Rio diocese protested against this "invasion" and said it would investigate.

Several people - both demonstrators and police - were injured.

Webmaster's Commentary: 

This will not end well; the Brazilian government is broke, and out of options.

Any potential international loans, to prop up Brazil's economy from the outside, will come at usurious interest rates, and be difficult to pay back; and even then, if Temer is successful here, it will not fix the fundamental problems a broken economy, and of corruption and graft within the world of his elites. As reported at theeconomist.com on 1 December of this year:

Brazil’s president weathers multiple storms

And there is the question: will there be a point where the Brazilian military turn against Temer's government, and he has a real revolution on his hands?!?

Dec 07 11:02

Investors Push Gold Eagle Sales To Record High & Commentary On Precious Metals Sentiment

Investment demand for Gold Eagles surged during the last day in November pushing sales to a new monthly record. Not only did Gold Eagle sales for November reach a new record high for the year, it surpassed sales during the same month last year by 52%.

Dec 07 10:56

Russia pipeline is security 'threat', US diplomat says

Russia’s Nord Stream II gas pipeline is a threat to European security, a US diplomat has said, amid calls for the European Commission to intervene.
Adam Shub, the deputy US ambassador to the EU, in Brussels on Tuesday (6 December), mentioned the Russian-German project amid other instruments he said Russia was using to “create division” in Europe and to erode “shared transatlantic values”.

EU Commission has stalled on appeals for a legal assessment.

He said the armed conflict in Ukraine was “just the front line” in the “malign action”, which extended also to the EU and the Western Balkans.

“There are [Russian] attempts to influence the policy debate, support for political parties, we know that, in the European Parliament, for NGOs … attempts to acquire assets on the energy front, Nord Stream - these are threats to Europe and to transatlantic security”, he said.

Webmaster's Commentary: 

Shub's codswallop, in denouncing Russia for doing everything the US government does, in terms of providing loans, supporting and attempting to influence various candidates and organisations who echo the US government narrative, demonstrates that the US government has, in basketball parlance, "got no game", in terms of being able to undo this deal.

This deal makes absolute sense for the German government and the German people, in order to keep fuel costs low.

In his petulant and sophomoric rant at the Ceps think tank conference, Shub comes off as almost thoroughly unhinged in his excoriating criticism of the deal, yet offers absolutely no concrete suggestions of what the German government "SHOULD" do, to get a better deal elsewhere.

And I would politely suggest to Mr. Shub that after last year's revelations of the fact that the US was spying on Angela Merkel and her ministers, neither she, nor any potential successor, is going to be very enthusiastic about listening to ANYTHING the US government has to say.

Obama administration spied on German media as well as its government

Dec 07 10:48

Dallas Mayor Files Lawsuit To Block Withdrawals From "Insolvent" Police Pension After "Run On The Bank"

Last week, Dallas Mayor Michael Rawlings sent a scathing letter to the Dallas Police and Fire Pension (DPFP) Board demanded that withdrawals be halted immediately until the "solvency and actuarial soundness of the Pension System is restored." That said, the Mayor's request was seemingly ignored as he has now filed a lawsuit with the Dallas District Court to force the pension board to halt withdrawals amid a "run on the bank."

Within the suit, Rawlings notes that $500 million in lump-sum withdrawals have been made from the DPFP since August 2016 with $80 million of that amount being withdrawn in the first 2 weeks of November alone. The suit continues on to allege that "this mass exodus of DROP funds amounts to a “run on the bank” and is exacerbating the financial peril of the Pension System as a whole."

Dec 07 09:42

JPMORGAN, HSBC, CREDIT AGRICOLE "BANK CARTEL" FINED $521 MILLION FOR EURIBOR RIGGING

With global bank stocks soaring on expectations - and hope - that financial sector regulation will be broadly swept away under Trump, today Europe did its best to show that, at least for now, the banks are not in the clear when the European Commission has fined JPMorgan, Credit Agricole and HSBC a total of €485 million ($521 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a five-year investigation into the scandal.

The three banks colluded on euro interest rate derivative pricing elements, and exchanged sensitive information, in breach of EU antitrust rules, the European Commission said on Wednesday in an e-mailed statement. JPMorgan was fined 337.2 million euros, HSBC got a 33.6 million-euro penalty and Credit Agricole must pay 114.7 million euros. Margrethe Vestager, the EU’s competition policy chief, said banks “have to respect EU competition rules just like any other company operating in the single market.”

Webmaster's Commentary: 

JPMorgan made a quarterly profit of $5.4 billion, as of this January; Credit Agricole made $84,374,0800.00, US in 2015; and HSBC made $18.8 billion in 2015.

These fines are simply "cosmetic slaps on the wrist", to make investors think that the fundamental problems in the financial industry have been dealt with, when they really haven't.

And none of the leadership of these financial institutions who signed off on these practices get jail time?!?

Why am I absolutely not surprised at this?!?

Because when comes to financial malfeasance, the people deciding to do it are almost never jailed; and they are counting on the reality that the rich rarely eat their own.

Dec 07 09:27

Italian Government Prepares To Nationalize Monte Paschi

The wait is almost over.

After two previous taxpayer funded bailouts, and nearly five months of foreplay since the third largest Italian bank failed the latest European stress test at the end of July, in which the Italian government in September vow that "bailout for Italian banks has been 'absolutely' ruled out", a third bailout, as we previewed earlier today, is now imminent.

According to Reuters, which cites two sources, Italy is preparing to take a €2 billion controlling stake in Monte Paschi as the bank's hopes of a private funding rescue have faded after a fruitless five month search to secure an anchor investor, following Prime Minister Matteo Renzi's decision to quit.

Webmaster's Commentary: 

Dec 07 09:27

DALLAS MAYOR FILES LAWSUIT TO BLOCK WITHDRAWALS FROM "INSOLVENT" POLICE PENSION AFTER "RUN ON THE BANK"

Last week, Dallas Mayor Michael Rawlings sent a scathing letter to the Dallas Police and Fire Pension (DPFP) Board demanded that withdrawals be halted immediately until the "solvency and actuarial soundness of the Pension System is restored." That said, the Mayor's request was seemingly ignored as he has now filed a lawsuit with the Dallas District Court to force the pension board to halt withdrawals amid a "run on the bank."

Webmaster's Commentary: 

Underfunded and badly thought out (and structured) pension programs are a national problem in this country; when management of these programs isn't intelligent and sound, scenarios like this are bound to happen.

Dec 07 09:17

Foundry site where Liberty Bell was made to close doors after 277 years

The foundry site in England where the Liberty Bell and London's Big Ben were made is going to close after 277 years, the Guardian reports.

The owners of the Whitechapel Foundry, considered London's oldest manufacturing business, have sold their building and plan to close the site in May but hope to sell the business so that it can resume operations at another location.

Dec 07 08:57

Apple’s Top Assembler Foxconn Confirms Plans for U.S. Investment

Foxconn Technology Group, the biggest assembler of Apple Inc. devices, is in preliminary discussions to make an investment that would expand the company’s U.S. operations.

The disclosure came hours after an announcement by U.S. President-elect Donald Trump and SoftBank Group Corp.’s Masayoshi Son to invest $50 billion in the U.S. and create 50,000 jobs. The money will come from SoftBank’s $100 billion technology fund, which was announced in October, a person familiar with the matter said. A document that Son held up after the meeting in Trump Tower also included the words “Foxconn,” “$7 billion” and “50,000 new jobs” in addition to SoftBank’s numbers.

Dec 07 08:27

How the Fed Has Been Sneak-Tightening Notch by Notch

And it’s now hitting home.

Dec 07 08:21

WORLD ECONOMIES IN TROUBLE: Middle East Oil Exports Lower Than 40 Years Ago

Yes, it’s true. Middle East net oil exports are less than they were 40 years ago. How could this be?

Dec 07 05:49

War On The Homeless: Cities All Over America Are Passing Laws Making It Illegal To Feed And Shelter The Homeless

If you want to be a “Good Samaritan” to the homeless in your community, you might want to check and see if it is legal first. All over the country, cities are passing laws that make it illegal to feed and shelter the homeless.

Dec 07 03:04

Is The Market Flashing The Hindenburg Omen Warning?

Gold was slammed by using 3.5 million of notional gold in the futures market. Retail jobs are offset by holiday hiring, reminder these jobs are temporary. The Fed labor market contracts for the 5th consecutive time, signalling a recession /depression warning.

Dec 07 02:39

Inflation indicator testing multi-year breakout cluster!

Some tools are used to measure inflation or lack of. Some look at the price of Crude Oil, Doc Copper or the Commodities Index (CRB) to determine if inflation or deflation is in play.

Dec 06 20:01

Michigan AG: Appeals Court Rules Recount Must Stop

The Michigan Court of Appeals has ruled that Jill Stein is not an aggrieved candidate and the recount must stop after a hearing today.

Dec 06 17:26

Forget Air Force One, Pentagon Wastes Billions and Billions Every Month

By Nadia Prupis

President-elect Donald Trump on Tuesday suggested that he would cancel what he claimed was a $4 billion Boeing contract to build a new fleet of Air Force One planes, saying he wanted the manufacturer to “make a lot of money, but not that much money.”

Trump's comments came just after the Washington Post published a bombshell investigation showing the Pentagon had hidden a study which uncovered $125 billion in bureaucratic waste, fearing that Congress would cut defense funding if lawmakers found out...

Dec 06 14:06

ABC NEWS Breaking: Trump Announces SoftBank to Invest $50 Billion, create 50,000 American Jobs! The Mainstream Media is going to have a STROKE over this!

Trump went in front of the Tower Press poll just minutes ago, and announced this.

Not even President yet, and already creating tens of thousands of jobs.

Dec 06 13:04

Will FED initiate a (mini)crisis?

Historically we see that central banks kept interest rates very low not to prevent economies from apathy but to create speculative bubbles and crashes that follow them. The control over economic cycles exercised with money supply and interest rates made it possible to transfer wealth out of the middle class to the financial sector.

Dec 06 13:00

Trump announces that Masayoshi Son, CEO of SoftBank, has agreed to invest $50 billion in U.S., create 50K new jobs.

Dec 06 11:31

Failed EU – Means an Expanded Dictatorship

Mass movements frequently take on a life of their own.

As the people of the world awaken to the pernicious nature and destructive wreckage of European civilization, the EU technocrats and oligarchs respond with even greater measures of control, repression and intimidation. Yet the prospects that they will be able to maintain their autocratic rule lessons with each populist rebellion against the beasts from Brussels. Induced panic is a tool used to scare the peasants into additional submission. The most obvious method will be a major economic and monetary implosion designed to create fear so that their revered and lauded interdependency necessitates another surrender of national sovereignty.

Dec 06 10:36

Trade Deficit Grows More Than Expected As Stronger Dollar Pressures Exports

The U.S. monthly international trade deficit increased in October 2016 according to the U.S. Census Bureau, rising from $36.2 billion in September (revised lower from $36.4 billion) to $42.6 billion in October, higher than the $41.8BN consensus estimate, as exports decreased and imports increased which was to be expected following the recent surge in the US Dollar.

Dec 06 10:25

Pentagon chiefs 'buried report saying they wasted $125BILLION on employing 1million people in desk jobs because they feared Congress would cut the defense budget'

The report highlighted some shocking figures - the Pentagon employs 1,014,000 people to do back-office work. That is almost as many as the 1,300,000 service personnel on active duty, the lowest figure since 1940.

The evidence will help back up calls by Donald Trump to cut 'government waste and budget gimmicks' when he gets into office.

Dec 06 10:22

Here’s Why America’s ‘Rust Belt’ Voted for Trump… Industrial Recession

“So it’s not a debate as to why those people voted for Trump. “They’re in recession and they’re hoping that he can get the Rust Belt states out of recession,” McCullough says.

Dec 06 10:22

WHY TURKEY IS SEEKING CLOSE COOPERATION WITH RUSSIA IN SYRIA?

The sudden thaw in Turkey’s relations with Russia and latent hostility towards America is partly due to the fact that Erdogan holds the US-based preacher, Fethullah Gulen, responsible for the July coup plot and suspects that the latter had received tacit support from certain quarters in the US; but more importantly Turkey also feels betrayed by the duplicitous American policy in Syria and Iraq, and that’s why it is now seeking closer cooperation with Russia in the region. In order to elaborate American duplicity in Syria, let us settle on one issue first: there were two parties to the Syrian civil war initially, the Syrian regime and the Syrian opposition; which party did the US support since the beginning of the Syrian civil war in August 2011 to June 2014, when the Islamic State overran Mosul in Iraq?

Dec 06 10:19

Trump sends Boeing shares plunging after 'cancelling' Air Force One order

AEROSPACE giant Boeing saw its shares plunge in pre-market trading on Tuesday, after President-elect Donald Trump threatened to cancel an order for a new Air Force One airplane from the company amid a row over costs.

Mr Trump said the manufacturing firm has quoted more than $4billion to build a brand new plane, which would be used by future presidents' travel.

The incoming leader said the costs were out of control and that he would cancel the order.

Stock in the firm subsequently fell by more than one per cent ahead of market opening in the US.

The president elect took to twitter to write: "Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!"

Dec 06 10:14

EU ON THE BRINK: Eurozone economy growth just 0.3% in Q3 as foreign trade hits the bloc

EUROPE'S economy grew by just 0.3 per cent in the third quarter of the year, as foreign trade turned against the bloc, it was confirmed today.

Dec 06 10:10

Apple Watch sales go over a cliff: Down 2.8 meellion per quarter in a year

Apple's Watch range sold 1.1m units in 2016's third quarter, a stunning 2.9m fewer than the same quarter in 2015.

The dip means Apple's share of the wearables market dipped from 17.5 per cent to 4.9 per cent in a year, representing -71 per cent growth according to abacus-twirler IDC's new Worldwide Quarterly Wearable Device Tracker.

Dec 06 10:09

Capitalist Culture

Capitalism, adopted as part of a consistent program to institutionalize private property, is not a “value-free” social arrangement. Adoption of such a program would immediately signify the elimination of public goods, which alone would create a culture radically unlike anything that has ever come before it. What will this new culture be like? Before its adoption, proponents of this new society are obligated to describe what’s in store.

Dec 06 09:55

The November's Jobs Report Isn't As Positive As You Think

According to the reports for November 2016, the unemployment rate plunged to its lowest level in the post-recession era, as the labor market created 178,000 new jobs. How impressive? Not so fast!

Dec 06 09:51

'Footloose' Comes To Brussels - Europe Unleashes "Dance Tax"

"Everybody cut loose".. but be prepared to pay for it in Europe. As Martin Armstrong notes, if you dance in a bar in Brussels, you must pay a tax!

The patrons of Bonnefooi, a cafe in the center of Brussels, last week received a visit from a City inspector.

The inspector asked them to pay the “tax dance.” Yes you read correctly. Brussels has a “dancing tax” written in the 50´s and as the government needs money, they have “revitalized” this tax since 2014.

For every customer who dances in a bar the owner has to pay €0.40 per night. They sent incognito civil servants to uphold this law.

Dec 06 09:04

Get Used to Lousy Growth AND Rising Rates: Fed Dove Dudley

The bond market is already doing the math.

Dec 05 19:12

NO SOFT BREXIT: UK 'will scoop extra £20billion a year' when it quits EU single market

THE UK will scoop at least an extra £20 billion a year in tax revenues and investment when it quits the European single market a new report has revealed.

The analysis by the Global Britain thinktank has sunk claims made by Remoaners that Britain needs to stay in the single market in what they have dubbed a “soft Brexit”.

The boost to the UK’s finances would be on top of the net £10 billion a year contribution the UK will get back by leaving the EU as well as the new revenues generated by being free to negotiate new trade deals.

It also reveals that leaving the single market will bring a renaissance in high paid jobs in Britain and force companies to start paying to train people in Britain.

Dec 05 16:11

SSD Prices Skyrocket As NAND Shortage Deepens, HDD Shortage Looms As Components Become Scarce

We began reporting on the first signs of the looming NAND shortage all the way back in May, and have touched on the domino effect in many articles over the ensuing months as it unfolded. Now the shortage is in full swing: DRAMeXchange reported that the average price of MLC SSDs rose this quarter between 6%-10%, while TLC SSDs also rose 6%-9%. We also reached out to Trendfocus, whose projections indicate even higher price hikes at both the retail and OEM level.

To make matters worse, although HDDs unexpectedly had the biggest quarter-over-quarter recovery in seven years, according to Trendfocus, now the HDD industry is beginning to exhibit the early signs of "tightened" supply--which means there could be shortages and higher prices in that segment as well.

Dec 05 16:04

Trump Won 2,623 Counties – More Than Any Candidate Since Reagan 32 Years Ago

Donald Trump won 2,623 counties compared to Hillary Clinton’s 489 which is the largest margin of victory since Ronald Reagan 32 years ago.

Dec 05 16:02

Forget Italy, Turkey Is The Main Course

While investors are focused on Italy, Bloomberg's Mark Cudmore warns that another Mediterranean country is poised to grab their attention very soon. A currency crisis in Turkey is rapidly deteriorating, setting the stage for dramatic and unscheduled central bank action.

The lira has weakened by more than 11% in the last six weeks against an equally weighted dollar-euro basket. This devaluation is exacerbating the situation rather than providing a relief valve.

Dec 05 15:16

Trump: I Will Abolish The Federal Reserve

Donald Trump has vowed to abolish the Federal Reserve and reinstate the gold standard when he enters the White House in January.

Dec 05 13:29

Over 250,000 Are Homeless In England, UK Charity Warns

British charities have warned that the number of homeless people in the UK is rapidly rising and thousands risk losing their lives as winter approaches.

Dec 05 12:51

Forget Italy, Turkey Is The Main Course

While investors are focused on Italy, Bloomberg's Mark Cudmore warns that another Mediterranean country is poised to grab their attention very soon. A currency crisis in Turkey is rapidly deteriorating, setting the stage for dramatic and unscheduled central bank action.

The lira has weakened by more than 11% in the last six weeks against an equally weighted dollar-euro basket. This devaluation is exacerbating the situation rather than providing a relief valve.

Dec 05 12:14

IIT-Kanpur student gets Rs 1.5-crore offer from Microsoft

A student of IIT-Kanpur who hails from Delhi has received a job offer of nearly Rs 1.5 crore per annum from Microsoft. This is the highest ever salary offer to a student of IIT-K, sources at the premier institute told TOI.

The student has been offered a position at Microsoft's headquarters in Redmond. Sources said he will design a software, implement it and fix the bugs.

Webmaster's Commentary: 

I guess Microsoft didn't get the Trump memo about hiring Americans...

Dec 05 11:12

Second billionaire sentenced to death in Iran

today another iranian billionaire Babak Zanjani (42) was sentenced to death for "Corruption during the ahmadinejad presidency",

Webmaster's Commentary: 

We need some of that here!

Dec 05 10:50

The No-Win Debt Disaster Caused by Obama’s Epic Game of Economic Kick-the-Can

The US has been on the brink of economic doom for quite a while now. Some people like to credit President Barack Obama for “saving us” from economic disaster, but in reality, he played the most epic game of kick-the-can ever during his 8 years in office.

You could compare his financial policy to a person who loses his job but has incredibly good credit.

That person could potentially manage to put his entire life on credit and get by for quite some time. Maybe he taps into his line of credit at the bank, he buys groceries and pays utilities with credit cards, and he borrows money against his house.

But finally, it comes to a point when he has no credit left. He has extended himself to the point that there is nothing available. Peter refuses to be robbed anymore, which means Paul isn’t getting paid.

That was the financial strategy of Barack Obama, and now Donald Trump will inherit a no-win situation: massive debt in the trillions of dollars with nothing to back it up...

Dec 05 10:46

Many CEOs believe technology will make people 'largely irrelevant'

The study was conducted by the Los Angeles-based management consultant firm Korn Ferry that interviewed 800 business leaders across a variety of multi-million and multi-billion dollar global organizations. The firm says that 44 percent of the CEOs surveyed agreed that robotics, automation and AI would reshape the future of many work places by making people "largely irrelevant".

Dec 05 10:43

North Dakota Pipeline Builder: Obama's Move Was A 'Political Decision' & Delay Tactic By "An Adminstration Which Has Abandoned The Rule Of Law."

The White House's directive today to the Corps for further delay is just the latest in a series of overt and transparent political actions by an administration which has abandoned the rule of law in favor of currying favor with a narrow and extreme political constituency.
As stated all along, ETP and SXL are fully committed to ensuring that this vital project is brought to completion and fully expect to complete construction of the pipeline without any additional rerouting in and around Lake Oahe. Nothing this Administration has done today changes that in any way."

Dec 05 10:11

A Disintegrative Winter: The Debt and Anti-Status Quo Super-Cycle Has Turned

With this list of manifestations in hand, we can practically write the headlines for 2017-2025 in advance.

How would you describe the social mood of the nation and world? Would anti-Establishment, anti-status quo, and anti-globalization be a good start? How about choking on fast-rising debt? Would stagnant growth, stagnant wages be a fair description? Or how about rising wealth/income inequality? Wouldn't rising disunity and political polarization be accurate?

Dec 05 09:47

All Eyes On Monte Paschi, Whose Bailout Is Now In Doubt, And Italian Bank Sector Contagion

As we noted last night, when we previewed the virtually assured "No" vote, we said that "a strong “No” vote will cause Prime Minister Renzi to resign, leading to political instability in Italy. Furthermore, a "No" vote is expected to kill a long-running attempt to rescue Italy's third largest and oldest bank, Monte dei Paschi, which has been desperate for a private sector bailout ever since it failed this summer's ECB stress test to avoid broader banking sector contagion; a failure of Monte Paschi will likely spark a fresh eurozone banking crisis, and prompt the ECB to get involved again (as it warned it would do), in a redux of what happened after the Brexit vote."

Dec 05 09:46

You Are Not Allowed To Hold Your Wealth Any More | Mike Rivero

Dec 05 09:45

Gold & Silver: Protecting 'Our' Millennials From ECONOMIC HELL!

Rare money formats like gold, silver, and even bitcoin might save savvy millennials in the West from the hellfires of currency inflation which are destroying society in Venezuela and elsewhere.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA