ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 01 08:50

How to Earn BCH as a Bitcoin Bounty Hunter

By Avi Mizrahi

Bounty hunters have been helping to bring criminals to justice since the days of the Old West, and they are still just as needed today. If you want to become a bounty hunter and get paid with cryptocurrency, you don’t even need a fast horse or a revolver these days – just useful information on some highly wanted hackers...

Apr 01 08:42

Ohio’s Public Utilities Commission Boasts About Collecting Customer Smart Meter Data and Sharing It

By B.N. Frank

There are many reasons – besides fires and explosions – to be concerned about the tens of millions of utility “Smart” Meters that have been installed on homes and throughout communities. One of them is privacy. “Smart” Meters collect data 24/7 on customers. This data can and has been sold to 3rd parties. This is sometimes referred to as “Surveillance Capitalism.”...

Apr 01 08:40

Midwest Apocalypse: According To Satellite Data, “At Least 1 Million Acres Of U.S. Farmland” Have Been Devastated By Floods

We have never seen anything like this before. According to satellite data that was just released by Reuters, “at least 1 million acres of U.S. farmland” were covered by water for at least seven days this month. That is an agricultural disaster without equal in modern American history, and yet the mainstream media is treating this like it is some sort of second class story. It isn’t. This is the biggest news story of 2019 so far, and people want to know what is going on. A few days ago, I posted a story entitled ‘“As Many As A Million Calves Lost In Nebraska” – Beef Prices In The U.S. To Escalate Dramatically In The Coming Months’, and it has already been shared on social media more than 145,000 times. Farming communities all over the central part of the nation now look like war zones as a result of all this flooding, but the media elites on the east and west coasts don’t want to write about it.

Webmaster's Commentary: 

So by all means let's bring a million more democratic voting hungry mouths across that southern border!

Apr 01 08:16

The Apocalypse Has Been Postponed

By Lee Enochs

In recent years, the controversial subject of global warming and a potential “climate disaster” has received a lot of media attention.

There are progressive politicians who are now arguing that unless profound changes in public policy are made to reduce worldwide carbon emissions, we face an impending worldwide climate-related catastrophe...

Apr 01 08:00

Signed as Law: West Virginia Bill to Facilitate Banking for Medical Marijuana Program

By Mike Maharrey

CHARLESTON, W. Va. (April 1, 2019) – Last Tuesday, West Virginia Gov. Jim Justice signed a bill into law that creates a mechanism to handle banking services for the state’s medical marijuana program. The new law removes one roadblock in front of the developing medicinal cannabis industry in the state and will further nullify federal prohibition in practice...

Apr 01 07:57

Eurozone CRISIS: Manufacturing activity SLIDES across eurozone with Germany WORST hit

Factories in the eurozone recorded their worst month for almost six years in March, declining for an eight month and slipping deeper into contraction territory. IHS Markit’s March final manufacturing Purchasing Managers’ Index (PMI) reading dropped to 47.5 for the month, down from 49.3 in February, marking its lowest reading since April 2013. An index measuring output change, which feeds into a composite PMI due on Wednesday and is seen as a good gauge of economic health, sank to 47.2 from 49.4. This marks its lowest since April 2013 and the second straight month it has come in below the 50 level.

Apr 01 07:36

TAXES OF UKRAINE’S POROSHENKO SHOW HIS INCOME JUMPED 10,000% THANKS TO ROTHSCHILD TRUST

According to the Ukrainian unified register of asset and income declarations, Poroshenko’s fortune totaled 1.56 billion hryvnia (US$57 million) over 12 months through March 31, which is 95 times as much as he reported in the same period a year ago. In 2017, Poroshenko’s gains reportedly reached 16.3 million hryvnia ($600,000).

Apr 01 07:26

Wealth Has Never Been More Equal

By Jeffrey A. Tucker

We’re bombarded by endless kvetching about rising inequality, plus demands for draconian taxation to fix the problem. The complaint has been raging for years, despite highly suspect data claims and fuzzy measurement techniques.

I’ve always had doubts that, even if true, it would even be a problem, simply because in a market-driven economic environment, it takes nothing away from me that the guy across the bar is a billionaire and I’m not. Chances are that he is providing jobs, donating to charities, and boosting investment in the capital structure that actually benefits all of us.

A society of equality in deep poverty is easy to achieve with enough force.

But let’s examine this claim at a different level. What exactly are we measuring here?...

Apr 01 04:44

Decision Point nearing

Mar 31 18:03

Why the State Revels in Crises

By Stefan Kløvning

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary. – H. L. Mencken

The fundamental task the State proclaims to serve is that of protecting citizens from violence perpetrated amongst one another. For this, it requires a monopoly on violence, and thus only the State, by definition, can be allowed to perpetrate violence against its fellows if it is to have any practical significance. So, what does this entail? If the citizens are imperfect, what grounds do we have to believe that the leaders have some superior nature, which qualifies them for such a position to rule over others?...

Mar 31 12:11

Decision Time

Mar 31 10:06

De-Dollarization Accelerates: Central Banks Dump Dollar In Q4, Buy Yuan

The dollar’s share of global central-bank reserves slumped to the lowest level since 2013 while holdings of the Chinese yuan rose for the fifth quarter in the past six, IMF data showed Friday.

The U.S. currency accounted for 61.7% of global allocated foreign-exchange reserves in the fourth quarter, down from 61.9% and the tenth decline in the past 12 quarters according to the IMF's Currency Composition of Official Foreign Exchange Reserves (COFER) for Q4 2018 report. The drop occurred despite a 1% jump in the value of the dollar in the fourth quarter. The euro, yen and yuan each gained as a share of allocated reserves. While modest at just 1.9%, reserve allocation to the Chinese Yuan has been increasing rapidly and is now almost double where it was two years ago.

Mar 31 09:42

More than 1 million acres of US cropland ravaged by floods

At least 1 million acres (405,000 hectares) of US farmland were flooded after the “bomb cyclone” storm left wide swaths of nine major grain producing states under water this month, satellite data analyzed by Gro Intelligence for Reuters showed.

Farms from the Dakotas to Missouri and beyond have been under water for a week or more, possibly impeding planting and damaging soil. The floods, which came just weeks before planting season starts in the Midwest, will likely reduce corn, wheat and soy production this year.

“There’s thousands of acres that won’t be able to be planted,” Ryan Sonderup, 36, of Fullerton, Nebraska, who has been farming for 18 years, said in a recent interview.

Webmaster's Commentary: 

This shows how dysfunctional the US Government has become. They were so fixated on global warming that they failed to realize that the heavy snow accumulated over the winter would result in heavy flooding and they failed to make sure the flood control systems were up to the task. Likewise, the open-borders people are so fixated on brining millions of democratic voting hungry mouths across the border is going to exacerbate the coming food shortages to the point where we might see massive food riots in this country.

Mar 31 09:40

Warlord Bankers and the Federal Reserve

Mar 31 09:31

The New Cash? Why Governments Don’t Like Cryptocurrency

By Nicholas West

Cash is a problem for banks and governments. And, as we know, banks and governments are joined at the hip — each creating policies that strengthen the power of the other. It is no mystery, then, why we continue to see an acceleration in the “War on Cash.” Cash creates a barrier to tracking and control and removes the ability to charge a wide range of processing fees and hidden charges. Cash impedes easy tax collection for governments, and creates the perception that governments are allowing crimes and corruption to occur without the ability to swiftly crack down on “evildoers.” Clearly, such an instrument would become the enemy to these institutions...

Mar 31 09:22

What Article 13 Means for the Cryptocurrency Industry

By Kai Sedgwick

First they came for our privacy. Then our data. Finally they took our memes. If the more hyperbolic headlines are to be believed, the EU’s ratification of the controversial Article 13 copyright law will have repercussions for purveyors of highly shareable online content. The reality is less draconian. Nevertheless, Article 13, coupled with last year’s GDPR laws, has ramifications for all tech companies, blockchain projects included...

Mar 31 09:05

US government finances still deteriorating

The federal government released the annual report of the U.S. Government for fiscal 2018 this afternoon. The government’s finances deteriorated significantly, and more recent reports suggest the trend is only getting worse in 2019.

Our measure of the unfunded federal debt rose from $101 trillion in 2017 to $105 trillion at fiscal year-end 2018. Extending that figure to end-of-March 2019 leads to a current estimate of $107 trillion, or about $707,000 per taxpayer (based on individual income tax filings).

Mar 31 08:55

Americans can’t afford to buy a home in 70% of the country

Even at a time of low interest rates and rising wages, Americans simply can’t afford a home in more than 70% of the country, according to CBS. Out of 473 US counties that were analyzed in a recent report, 335 listed median home prices were more than what average wage earners could afford. According to the report from ATTOM Data Solutions, these counties included Los Angeles and San Diego in California, as well as places like Maricopa County in Arizona.

Mar 31 06:01

Auto industry death spiral?

Mar 31 01:50

Wage hike: NZ Businesses brace for minimum wage to increase by $1.20 to $17.70 (US$12.75)per hour

Businesses say they will have to pass costs on to consumers now that the minimum wage has increased for the second time since the Labour-led Government took power.

From April 1, the minimum wage will be raised to $17.70 per hour, up $1.20 from $16.50. This is the second increase in a year and a half, and the hourly rate will increase again to $20 by 2021.

While big business can absorb such costs, for small and medium sized firms, particularly those with a large workforce on minimum wage, it can be much harder and have far-reaching effects.

Mar 30 16:46

Ignore The Yield Curve, They Said…

Mar 30 12:13

The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars

The truth is that we are just going to keep accumulating more debt until the system completely and utterly collapses.

Mar 30 10:39

Cannabis, Cryptocurrency and Compliance: One Man’s Quest to Support Unbanked Businesses

By Kai Sedgwick

Ernesto Huerta is the very embodiment of Bitcoin. As the operator of Crypto Space, a physical bitcoin exchange in Los Angeles’ San Pedro neighborhood, Huerta knows more than most about the challenges of running a cryptocurrency business while maintaining banking access and compliance. In a wide-ranging interview, the Crypto Space owner has disclosed the realities of straddling the line that separates centralized and decentralized finance, and the underhand tactics big banks deploy to crush crypto startups.

Ernesto Huerta faces a twin challenge upon awakening each morning: keeping his own business afloat, while doing the same for his clients. It’s not that business is bad – in fact, Crypto Space is booming. Rather, the realities of operating in the cryptocurrency industry mean Huerta is constantly at risk of having the rug pulled from under his feet by the banks...

Mar 30 10:31

The Dangers of Government-Funded Artificial Intelligence

By Christian Hubbs

Artificial Intelligence is widely seen as a strategic technology and has thus engendered national development plans from countries across the globe to promote its progress. For quite some time, the United States has been conspicuously on the sideline. The American AI research community has, by and large, bemoaned the lack of Federal leadership in this space with many calling for a Kennedy-esque “moonshot” plan to come out of Washington to cement American leadership in the AI space. This past month, the Trump White House released the Executive Order on Maintaining American Leadership in Artificial Intelligence to provide direction and support for technological advancement in this space.

Mar 30 10:14

Xi Reportedly "Wary" Of Trump Summit As Beijing Refuses To Budge On Tariffs

About three hours ago, as US stocks were beginning a run back toward their highs of the session, a frequently used mouthpiece for the Communist Party dropped a hint that all was not well in the ongoing US-China trade talks, and that some disappointing (for equity bulls) news might be imminent.

Hu Xijin, the editor of the English language Global Times, affirmed that talks were making progress, but said that China kept its statement on this week's talks brief because it "doesn't want to raise the public's expectations."

Mar 30 10:11

Midwestern farmers devastated by uninsured flood losses

Hundreds of millions of dollars in crops destroyed in Midwestern floods this month were not insured, farmers say. And the losses could leave many without sufficient income to continue farming.

"This uninsured grain issue is really starting to affect people," said Jeff Jorgenson, a western Iowa corn and soy grower whose farm flooded when the Missouri River spilled over its banks March 12.

Mar 30 09:42

New York Times’ reports that Jewish donors shape Democrats’ regressive position on Israel

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This weekend the New York Times breaks one of the biggest taboos, describing the responsibility of Jewish donors for the Democratic Party’s slavish support for Israel. Nathan Thrall’s groundbreaking piece repeats a lot of data we’ve reported here and says in essence that it really is about the Benjamins, as Rep. Ilhan Omar said so famously.

The donor class of the party is overwhelmingly Jewish, and Jews are still largely wed to Zionism– that’s the nut.

Though that party is breaking up. Thrall’s labors are minimized by the New York Times with the headline “The Battle Over B.D.S.,” but his message is that the progressive base has a highly-critical view of Israel that the leadership has refused to reflect, and that’s about to change. We’re inside the tent. The party is going to have to reflect pro-Palestinian positions. Ben Rhodes tells Thrall that the moment of overcoming the fear of the pro-Israel lobby (as the Cuba fear was overcome) is about to happen.

Webmaster's Commentary: 

I would certainly appreciate it, if Thrall is correct; but what about the Republican Party's slavish devotion to Israel as well, no matter how many times it has been horrendously wrong on its foreign policy issues?!?

Mar 30 08:45

Trump says may discuss Venezuela with Putin soon

US President Donald Trump said he may discuss the situation in Venezuela with Russian President Vladimir Putin soon, Reuters reported on Saturday.

"We will probably be talking at some point," the US leader told reporters at his estate in Florida. "I’ll be talking to a lot of people - perhaps President Putin, perhaps President Xi of China."

US national security adviser John Bolton said on Friday that Trump was set to talk with Putin by phone soon. He also said his country viewed the deployment of other states’ troops in Venezuela as a threat to the region.

Webmaster's Commentary: 

Putin may well be laughing his head off, considering that the US "blinked and missed" the window for accomplishing anything militarily achievable in Venezuela.

Right now, Putin has President Trump "by the sensitive bits"; Russian troops, who were ordered to Venezuela by Putin, will not leave until Putin tells them to; and right now, that means, indefinitely.

So, what is President Trump prepared to do, fight Russia in Venezuela for its vast oil reserves?!? I would like to hope (and pray) that the people around him, are not prodding him to do so.

And I say that because, right now, the US military doesn't have the manufacturing, the money, the weaponry, or the troop strength, to insure a positive result against Russia and/or China.

An invasion into Venezuela now, is an utterly, a no-win situation, and I would like to hope that the people around Trump have the smarts to see this.

Mar 30 08:45

Boston Dynamics' New Warehouse Robot Threatens Millions Of Jobs 

The economy of the 2020s will be more volatile, and recessions could be more extreme. The collision of automation in the workforce will trigger economic disruptions far more significant than what seen in agriculture to industry (1900 to 1940) when nearly 40% of the workforce was displaced.

In the next ten years, automation may eliminate 20% to 25% of current jobs, or about 40 million, crushing the bottom 90% of Americans the hardest.

Boston Dynamics is at the forefront of developing new automation technologies.

The Waltham, Mass.-based company has released a new video of its warehouse robot, a "mobile manipulation robot designed for logistics. Handle autonomously performs mixed SKU pallet building and depalletizing after initialization and localizing against the pallets."

Mar 30 08:37

How the Tech Giants Make Their Billions

Mar 30 08:31

Pompeo wants NATO to take ‘actions’ to help Ukraine

Marines from the U.S. and Ukraine standing together after a company-level attack during the land portion of Exercise Sea Breeze, Saturday, July 14, 2018. Secretary of State Mike Pompeo said NATO allies could take additional steps when allies convene next week to help Ukraine defend against Russia.

Webmaster's Commentary: 

What on earth is Pompeo speaking about, and what "concrete steps" from NATO is he expecting?!?

That NATO will go to war against Russia in behalf of Ukraine, which is not
yet a NATO signatory?!?

I would like to hope (and pray) that NATO will not fall for any foolishness from this guy.

Having said that, however, if military exercises are supposed to start next week involving Ukraine, we may well be looking at some kind of " false flag"against it, to attempt to ratchet up support for Ukraine against the allegedly "evil empire" of Russia.

Mar 30 05:10

The Perfect Financial Storm

Mar 29 17:31

The Future of Education is Borderless

By Steven Maxwell

The entire formal education apparatus seems to reinforce the repetition of learning from past generations rather than forging new ideas and new applications for a world changing at an increasingly rapid pace. As Internet connectivity expands and the speed of accessing information increases, the opportunities for formal learning should also accelerate. After all, information itself is already borderless for much of the world’s population that has access to a free and open Internet. One would have to assume that the barriers for entry to the information contained within the world’s universities also should fall...

Mar 29 17:07

Eric Johnson: 'On Seattle, Dying and an Ugly Reflection'

On a chilly night almost two years ago, in a cramped, cluttered room in a dirt-cheap motel on Aurora Avenue, I found myself sitting face-to-face with six heroin addicts.

They were nice kids. They seemed tired. Wrung out. But they were honest, and funny at times, and I liked every one of them.

And, of course, they broke my heart.

Mar 29 16:46

Inverted Yield Curve Fears Are Early

Mar 29 15:58

Who is Lying? Stocks, Crude Oil or Yields?

Mar 29 11:09

Q4 GDP Sinks to 2.2%, Far Short of Trump’s Goal

U.S. economic growth slowed sharply in the fourth quarter last year to an annual rate of just 2.2 percent. There are concerns that growth has slowed even more in the first quarter this year as global weakness, fading government stimulus and rising trade tensions take a toll on the economy.

The increase in the GDP, the economy’s total output of goods and services, was revised down from an initial estimate of 2.6 percent growth in the fourth quarter, the Commerce Department reported Thursday. The change reflected weakness in a number of areas. Consumer spending, business investment, government spending and housing all came in lower than first thought.

Economists believe growth has slowed further in the current January-March quarter to around a 1.5 percent rate.

Mar 29 11:06

Accelerating "Eviction Crisis" Parallels The Sub-Prime Mortgage Crisis Of The Great Recession

The eviction crisis is worsening to the point that Georgia State University authors feel that protections should be put in place to safeguard renters, such as longer eviction notices and legal protection, according to Market Watch. However, that could make the crisis much worse by homeowners simply refusing to rent their properties out at all. More government intervention (whether it’s designed to protect people or not) will only make a very bad situation worse.

Evictions have become a real visible effect of the volatility in today’s economy. Stable housing is increasingly out of reach for many Americans, as both rentals and homes to own grow more expensive, options dwindle, and wages remain stagnant. But some scholars at Georgia State University, in conjunction with a ProPublica journalist, completed a new study which shows that not all evictions are created equal.

Mar 29 11:05

‘Unwritten Rules’: US Demands Foreign Oil Companies Cut Ties With Venezuela

The verbal demand reportedly exceeds the scope of sanctions established on paper, sources say.

The US has reportedly contacted trading houses and oil refineries around the world and instructed them to curtail their dealings with Venezuela or face sanctions themselves, Reuters reported Thursday, citing three unnamed sources.

According to the sources, the demand is unjust, since the US is asking for the cessation of trade that is not, on paper, prohibited by US sanctions.

Mar 29 10:39

"Medieval" Diseases Flare as Unsanitary Living Conditions Proliferate

Jennifer Millar keeps trash bags and hand sanitizer near her tent, and she regularly pours water mixed with hydrogen peroxide on the sidewalk nearby. Keeping herself and the patch of concrete she calls home clean is a top priority.

But this homeless encampment off a Hollywood freeway ramp is often littered with needles and trash, and soaked in urine. Rats occasionally scamper through, and Millar fears the consequences.

“I worry about all those diseases,” said Millar, 43, who said she has been homeless most of her life.

Infectious diseases—some that ravaged populations in the Middle Ages—are resurging in California and around the country, and are hitting homeless populations especially hard.

Mar 29 10:19

MEDIA Blackout - Dual Citizens Boycott America via Israeli Banks

A year after the probes into Leumi, Hapoalim and Mizrahi Tefahot were made public, the U.S. State Department notably listed Israel as a “major money laundering country… whose financial institutions engage in currency transactions involving significant amounts of proceeds from international narcotics trafficking … or other serious crime.”

Bank Leumi was the first to admit to wrongdoing and reached a deferred prosecution agreement with the DOJ in 2014 that eventually resulted in the bank paying $400 million in fines to the U.S. government and the State of New York in order to avoid prosecution. According to the DOJ, the agreement marked “the first time an Israeli bank has admitted to such criminal conduct, which spanned over a 10 year period.”

Mar 29 09:30

The EU bows to ‘systemic rival’ China

Let’s start with the essential background for the meeting in Paris on Tuesday between Chinese President Xi Jinping and three EU heavyweights – French President Emmanuel Macron, German Chancellor Angela Merkel and President of the European Commission (EC) Jean-Claude Juncker.

As imperfect as these figures may be, economic growth for the past 10 years after the 2008 financial crisis – which was a made in the West phenomenon – do tell an enlightening story.

China’s growth: 139%. India’s growth: 96%. the US’ growth: 34%. EU growth: a negative 2%.

Mar 29 09:24

Sears cancels life insurance for 90,000 retirees.

Sears announced this month that an undisclosed portion of the struggling department store chain’s 90,000 retirees would be losing their life insurance benefits.

The retailer sent letters to the retired employees informing them that their life insurance would be axed as of March 15, according to Ron Olbrysh, chairman of the National Association of Retired Sears Employees (NARSE) — and some allegedly didn’t receive their letter until after that date had passed.

Mar 29 09:22

Ireland and EU Countries Must Seek ECB Approval to Manage Gold Reserves – Draghi

The European Central Bank needs to approve any operation in the foreign reserves of euro zone countries, including gold and large foreign currency holdings, the ECB’s President Mario Draghi said on Thursday.

“The ECB shall approve both the operations in foreign reserve assets remaining with the NCBs (national central banks)…and Member States’ transactions with their foreign exchange working balances above a certain threshold,” Draghi told two Italian members of the European Parliament.

“The purpose of this competence is to ensure consistency with the exchange rate and monetary policy of the Union.”

Mar 29 08:05

EU States Embracing China's Silk Road, Nord Stream 2, Defying US – Journo

European states are seeking independence from both Washington and Brussels, Daniele Pozzati, a Munich-based Italian journalist has told Sputnik, commenting on Italy's decision to join China's Belt and Road initiative, amid Berlin’s spat with Washington over the Nord Stream 2 project.

"With its decision to join China's One Belt and One Road (OBOR) project, Italy aims at making up several years of lost economic opportunities", says Daniele Pozzati, a Munich-based Italian journalist and economic observer.

On 23 March, China and Italy signed a memorandum of understanding in support of Beijing's New Silk Road initiative that aims to link Asia to Africa and Europe.

Mar 29 08:01

‘Just jealous’: Italy responds to criticism for joining China’s Belt and Road Initiative

Europe and the US should take care of their own debts to China before advising Italy about the risks of joining Beijing’s ‘Belt and Road Initiative,’ said Michele Geraci, undersecretary of state at the Italian Economy Ministry.

Italy has become the first G7 nation to join China’s ambitious plan to revolutionize global trade, making other eurozone majors “jealous” of the move, according to Geraci.

Mar 29 07:59

ALERT: Floods Decimate US Farms - Stockpiles Lost - More to Come

Webmaster's Commentary: 

There are going to be food shortages in this country, so by all means let's have millions more hungry mouths pour into the nation across that southern border!

Mar 28 18:51

5 Legal Strategies To Reduce Your Tax Burden

By Nicholas West

While people feel compelled to continue debating various government shutdowns, the reality remains that tax collection is expected to continue uninterrupted. The old maxim that the two great inescapable realities are death and taxes should come as an affront to the liberty minded, however. The mandatory payment of taxes is as unnatural as death is natural, and is a human construct that is a historically recent phenomenon..

Mar 28 18:33

The Consensus Crisis: Conspiracy Theories, The Mandela Effect, Social Media Censorship, and Bitcoin

By Vin Armani

How are the social media backlash against “conspiracy theories,” The Mandela Effect, and Bitcoin all connected?

Over the last twenty years, individuals have become ever more interconnected, particularly through social media. The change in the speed with which we are able to find (and break) consensus has outstripped the consensus mechanisms that evolved along with our species.

The result is our current state, The Consensus Crisis...

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