ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 09 00:56

Can we avoid another financial crisis

With house prices dropping, anemic growth and terrible productivity figures, it seems that developed economies are heading toward another financial fallout – having not yet paid for the last one.

Aug 08 17:32

Trump on collision course with Germany over US bid to dominate energy market

Klaus Schaefer, CEO of German energy company Uniper, said "strategic economic interests" were behind Mr Trump's sanctions.

He predicted the United States will soon push its liquefied natural gas (LNG) into Europe in a bid to dominate the energy market.

Mr Schaefer said: "The core reason [for the sanctions] are strategic economic interests, meaning the targeted dominance of the US in energy markets.

"Uniper's readiness to finance the Nord Stream 2 project with other European partners arises from the conviction that this additional gas link makes economic sense and that our contribution to its financing will be profitable."

Aug 08 14:53

Amazon And Foxconn In Kenosha, Wisconsin: The New American “Special Economic Zone”

The opening of operations at Amazon’s Fulfillment Center in Kenosha, Wisconsin in 2015 was a major early step in a major economic transformation underway in the greater Southeastern Wisconsin. Amazon, Foxconn, and other massive companies are taking advantage of the devastation wrought on this region over several decades of deindustrialization, a reason to develop the area into a massive platform for low wage labor.

Aug 08 14:06

The Despotic Origins Of U.S. Public Secondary Education

During the 1890s, as patriotic fervor was sweeping the nation, the flying of the nation’s flag on school grounds and within classrooms was normalized, whereupon students were required to pledge allegiance to the nation’s flag on a daily basis.

Aug 08 12:14

Wall Street Firms Win Again, Regulators Capitulate

Financial Crisis is forgotten. Even sounds of gentle wrist-slapping fade. 

Aug 08 11:55

US Sanctions — a Looney Tunes Bad Remake

By F. William Engdahl
5 Aug 2017

The ever-so-wise members of the Congress of the United States have just passed one of the most bizarre pieces of legislation in US history. Unilaterally, it makes illegal and severely punishable investments by European companies in international energy projects where Russia is involved. But it does far more. Unlike earlier US sanctions acts, the EU countries were not even consulted on the new act. It may well be that the bill, HR-3364: Countering Americas Adversaries Through Sanctions Act (sic) and its Senate counterpart will mark the irreversible decline of the United States as a global power and forge new ties between Russia, China, Iran and, yes, the major states of the EU including Germany .

What the Act says
That's All Folks!
https://www.youtube.com/watch?v=R9M4htrogqA

Aug 08 11:45

DOJ: Miami No Longer A ‘Sanctuary City,’ Will Receive Nearly $500k In Federal Grants

Florida’s most populated county is no longer considered to be a “sanctuary jurisdiction” by the Justice Department. As a result, Miami-Dade will be eligible for certain federal grant money denied to other immigration “sanctuary cities.”

On Friday, the Department of Justice sent a letter to Miami-Dade County Mayor Carlos Gimenez (R), notifying him that the county was in compliance with federal immigration requirements and would therefore be eligible for Edward Byrne Memorial Justice Assistance Grant Program (JAG) grants.

Aug 08 10:54

How Goldman Sachs And Bain Capital Destroyed The Learning Company And Got Off Scot-Free

By Aaron Kesel

In 1997, Goldman Sachs aided Thomas Lee Partners, Mitt Romney and Bain Capital, to get involved with “The Learning Company” through a private equity firm...

Aug 08 10:13

Why Germans NEED Brexit Britain: USA could bring Germany to its knees over Russia

GERMANY fears its economy could take a battering if Donald Trump presses ahead with plans to slap new sanctions on Russia - potentially further pressing the need for Berlin to force through a good Brexit deal.

Aug 08 10:12

New Report Finds The Economy Never Recovered, It Is One Big Illusion

Labor market breadth is near record lows. Looking at all of the different economic indicators it shows the economy has not been improving.

Aug 08 10:11

Sessions Humiliates Rahm: "No Amount Of Federal Funds Will Help A City That Refuses To Help Its Own Residents"

All the latest moves coming from Jeff Sessions would seem to imply that the beleaguered Attorney General has every intent of aggressively pushing forward with Trump's agenda in order to mend broken fences with the White House and try to keep his job. The latest such move comes in the form of the following rather direct official statement from Sessions in response to Chicago's lawsuit filed earlier this morning regarding federal funding, or lack thereof rather, for sanctuary cities.

Among other things, Sessions scolded Chicago's Mayor, Rahm Emanuel, saying that "no amount of federal taxpayer dollars will help a city that refuses to help its own residents." Meanwhile, Sessions also took direct aim at Chicago's soaring violent crime rate pointing out, as we have on many occasions, that the city recorded more murders in 2016 than New York and L.A. combined.

“No amount of federal taxpayer dollars will help a city that refuses to help its own residents."

Webmaster's Commentary: 

Sessions was absolutely correct in reading Chicago's mayor, Mayor, Rahm Emanuel, the riot act, on this issue.

Aug 08 10:06

This is Why the US Avoids Messing Around With Venezuelan Oil

The United States has imposed sanctions on Venezuela’s President Nicolas Maduro, but stopped short of punishing the Latin American country’s oil sector. In an interview with Sputnik, economist Rafael Quiroz Serrano explained why.

Venezuela is exporting 823,000 barrels of crude oil to the US a year, all of which is bought by privately-owned refineries.

Of these, 550,000 barrels go to four Venezuelan-owned refineries in Texas, Louisiana and other US states.

Aug 08 09:58

US CREDIT CARD DEBT SURPASSES FINANCIAL CRISIS RECORD, AS STUDENT AND AUTO LOANS HIT NEW ALL TIME HIGH

Who would have expected that today's otherwise boring monthly consumer credit report would be the day's most exciting event. Well, moments ago the monthly update from the Federal Reserve confirmed that as of the end of June, total revolving (i.e. credit card) credit rose to $1,021.7 billion, an increase of $4.1 billion on the month, and a new all time high, taking out the previous record high set during the summer of 2008.

... means that total consumer credit in June increased by $12.4 billion, slightly less than the $13.9 billion expected and modestly less than the $18.4 billion increase in May, to $3,855.8 billion, also a record high.

Taking a closer look at the quarterly update in non-revolving debt, we find that for another consecutive quarter, both student and auto loans hit record highs, of $1.450 trillion and $1.131 trillion respectively, although there does appears to be a modest slowdown in credit issuance for these two largest categories.

Webmaster's Commentary: 

In the immortal words of Casey Stengel, this feels like "deja vu all over again."

The Economic Crash of 2008

Aug 08 09:35

US consumer credit card debt balloons to all-time high

American consumers have accumulated $1.02 trillion of debt on their credit cards as of June, according to the US Federal Reserve. This is more than the record set just before the 2008 financial crisis.

US household debt balances were $12.73 trillion in March 2017, compared to the 2008 peak of $12.68 trillion.

Aug 08 09:27

Whiff of Reality at Crazy Super High-End Housing Market?

BS asking prices meet the ax.

Aug 08 09:25

Our Broken Economy, in One Simple Chart

Many Americans can’t remember anything other than an economy with skyrocketing inequality, in which living standards for most Americans are stagnating and the rich are pulling away. It feels inevitable.

But it’s not.

A well-known team of inequality researchers — Thomas Piketty, Emmanuel Saez and Gabriel Zucman — has been getting some attention recently for a chart it produced. It shows the change in income between 1980 and 2014 for every point on the distribution, and it neatly summarizes the recent soaring of inequality.

Aug 08 09:02

Video: As Downtown Detroit Gentrifies, Longtime Black Residents Fight Illegal Tax Foreclosures

In Detroit, a recent study found that one in four Detroit properties have been subject to property tax foreclosure between 2011.

Aug 08 08:18

When will real wages finally rise?

Aug 08 08:17

EUROZONE ON THE BRINK: Germany imports PLUNGE to lowest level since 2009, figures show

Exports from Europe's biggest economy fell by 2.8 per cent, the biggest drop since August 2015, the Federal Statistics Office said.

Adding to Germany's woes, imports plunged by 4.5 per cent in the same month, the biggest drop since January 2009.

The shocking data, released earlier today, drove the country's seasonally adjusted trade surplus to a 10-month high of €21.2billion (£19.2bn).

Aug 08 08:02

Leave Us Out of It: EU Commission Refuses to Get Involved in US-Russia Spat

The European Union considers the diplomatic dispute between Moscow and Washington a "bilateral" one and is giving the fracas a wide berth, an EU Commission spokesperson has said. While not a direct condemnation of US actions, the bloc is clearly keeping its distance, and may not be dancing to the US' tune as enthusiastically as it once did.

Aug 08 07:55

Gold Up On Weak U.S. Dollar, Geopolitics

Gold prices are moderately higher in early U.S. trading Tuesday, supported by weaker U.S. dollar and some safe-haven demand amid an uptick in U.S.-North Korea tensions. December Comex gold was last up $4.90 an ounce at $1,269.50. September Comex silver was last up $0.109 at $16.36 an ounce.

North Korea has threatened to use its nuclear weapons against the U.S. after the United Nations slapped more sanctions on the rogue nation. This matter won’t just go away and will likely get worse before it gets better. Such is likely to continue to be an underlying bullish element for the gold market.

The U.S. dollar index is weaker in early U.S. trading Tuesday. The index has been trending lower all year long and the bears possess the strong near-term technical advantage. The rally in the dollar index late last week has fizzled.

Aug 08 07:55

Silver Mining Production Plummets 27% At Top Four Silver Miners

In an interesting change of events, production at four of the top primary silver miners plummeted during the second quarter of 2017.

This goes well beyond normal fluctuations in mining companies production figures during different quarterly reporting periods. The company with the least percentage decline in silver production still suffered a 20% reduction of mine supply in the second quarter.

According to recently released company data, silver production declined between 20-34% from these four primary silver miners during the second quarter. The company that suffered the biggest decline in silver production was Hecla at -34%, followed by Endeavour Silver at -26%, Silver Standard at -24% and First Majestic with a decrease of 20% (see table above).

Aug 08 07:52

The IRS Scandal, Day 1552: The IRS's Email Retention Policies Still Do Not Ensure That Emails Are Retained And Produced When Requested

IRS policies do not comply with certain Federal requirements that agencies must ensure that all records are retrievable and usable for as long as needed. For example, IRS e-mail retention policies are not adequate because e-mails are not automatically archived for all IRS employees. Instead, the IRS’s current policy instructs employees to take manual actions to archive e-mails by saving them permanently on computer hard drives or network shared drives.

This policy has resulted in lost records when computer hard drives are destroyed or damaged. In addition, a recently instituted executive e-mail retention policy, which should have resulted in the archiving of e-mails from specific executives, was not implemented effectively because some executives did not turn on the automatic archiving feature.

Aug 07 13:38

Video: Keiser Report: Bitcoin Drama

In this final episode of the Keiser Report from Freedom Fest in Las Vegas, Max and Stacy encounter Peter Schiff in the halls of the convention center and challenge him on bitcoin. Max continues his interview with bitcoin entrepreneur Charlie Shrem to discuss the latest drama and innovation in the cryptocurrency space.

Aug 07 13:34

The Currency Paradox

It has long been believed that Capitalism is the last economic system. It has triumphed over its rivals, socialism and communism, and has now come to define modern society. Many believe that the religion of Adam Smith was the culmination of all of our economic experiments. To many, not only is Capitalism the best economic system that humanity has ever devised, it is the best that it will ever devise.

Aug 07 12:03

A Brief History Of Global Economic Recessions

Aug 07 11:07

U.S. Sanctions Bill Adds More Targets To The List; U.S. Set To Sanction Itself Into Isolation

By Brandon Turbeville

With the new U.S. sanctions bill having been passed by a united Congress and signed by a President allegedly opposed to it, U.S. sanctions are now all over the news. But the sanctions bill was not just a step toward a second Cold War with Russia, the bill was also aimed at North Korea, Iran, China, and even Europe. In his excellent study of the bill, “U.S. Sanctions: A ‘Loony Tunes’ Bad Remake; ‘Irreversible Decline Of The U.S. As A Global Superpower,” F. William Engdahl described the legislation as being a “nuclear barrel bomb with sanctions flying in all directions.” Sadly, Engdahl is right...

Aug 07 10:59

WALL STREET FINES DOWN 66% UNDER TRUMP'S GOLDMAN SACHS-FILLED ADMINISTRATION

Since taking office in January, President Donald Trump has chosen ex-Goldman Sachs bankers to fill several key positions within his administration. According to a Wall Street Journal analysis published Sunday, it appears that the nation's largest financial institutions are benefiting greatly from having their friends in government.

Aug 07 10:40

How Trump threw peace, prosperity under AIPAC bus

Two days ago, a close colleague of mine was on the line from Greenwich, Connecticut to discuss my upcoming book when the conversation turned to these new Russia sanctions. My colleague related a story from Capital Hill and an insider who explained the vote on the sanctions law. The gist of this insider's revelation was that the overwhelming "yes vote" in Congress indicated one powerful player behind the curtain - America's pro-Israel lobby AIPAC.

Aug 07 10:35

The Madness Is Back: Homeowners Take Out Mortgages To Buy Bitcoin, Cars And Wine

It's been about a decade since the term "mortgage arbitrage" made headlines. It's back.

In the clearest sign yet of just how late far the investing cycle the developed world finds itself, the FT writes that wealthy British homeowners are again borrowing against their property to invest in bonds, equities, alternative investments or commercial property as the low cost of debt creates opportunities for “mortgage arbitrage”. And while taking out a mortgage to invest in "safer" arbs like corporate bonds, commercial real estate or private equity would be at least understandable, if not excusable, in the current low-yield regime, some more extreme "investment" decisions suggest that the madness and euphoria that marked the peak of the last asset bubble is back: because while growing numbers are prepared to risk using their primary residence as collateral, some are ready to gamble on extremely volatile assets like bitcoin, wine and cars.

Aug 07 10:30

Rare Earths Are China's Most Potent Weapon In A Trade War

In October 1973, the world shuddered when the Arab members of the Organization of Petroleum Exporting Countries imposed an oil embargo on the United States and other nations that provided military aid to Israel in the Yom Kippur war. At the same time, they ramped up prices.

The United States realized it was dependent on imported oil — and much of that came from the Middle East, with Saudi Arabia the big swing producer. It shook the nation. How had a few foreign powers put a noose around the neck of the world’s largest economy?

Well, it could happen again and very soon. The commodity that could bring us to our knees isn’t oil, but rather a group of elements known as rare earths, falling between 21 and 71 on the periodic table.

Aug 07 10:30

Yanking The Bank Of Japan's Chain - "It's Basic Math, Stupid!"

Based on the simple reflection that arithmetic is more than just an abstraction, we offer a modest observation. The social safety nets of industrialized economies, including the United States, have frayed at the edges. Soon the safety net’s fabric will snap. This recognition is not an opinion. Rather, it’s a matter of basic arithmetic. The economy cannot sustain the government obligations that have been piled up upon it over the last 70 years.

Aug 07 10:29

‘Tough Love’: Frustrated US Business Owner Livestreams Homeless Encampment

Gary Watts, the owner of a car repair shop in Everett, Washington, installed a video camera on top of his building to livestream a sidewalk homeless encampment across the street from his workplace.

The royal wedding cake, showing the first cut made by the Duke and Duchess of Cambridge, is seen in Buckingham Palace, London, Wednesday July 20, 2011, before going on display to the public during the palace's annual summer opening.

The video stream is currently 24/7 on Facebook, and the frustrated small-business owner has bigger plans in store, according to Komonews.com.

"We'll be adding more high definition cameras and it will be part of a 24-hours-a-day live-streaming YouTube channel called Tweakerville USA," said Watts, owner of Z Sport Automotive. For those interested in a primer on underground drug culture in America, "tweakers" is slang for methamphetamine addicts.

Aug 07 10:22

WOW The Federal Reserve Smacks Down Paul Krugman

In a recent column, The New York Times economist Paul Krugman attacked the deregulation of banking and called banking before deregulation "boring banking."

He blamed the crises since the deregulation as being caused by the deregulation.

But none other than the Federal Reserve has come out to refute Krugman's claim. In an essay, Were Banks ‘Boring’ before the Repeal of Glass-Steagall?, Nicola Cetorelli, an assistant vice president in the Federal Reserve Bank of New York’s Research and Statistics Group, concludes:

Aug 07 10:20

US Firms 'Will Shamelessly Occupy New Niche' in Russian Market Amid EU Sanctions

US companies are likely to take advantage of the EU's decision to introduce anti-Russian sanctions over the Siemens scandal, political expert Alexei Mukhin argued. According to him, Siemens could easily be replaced by American companies, "which will shamelessly occupy the new niche" in the Russian market.

Aug 07 10:14

Struggling to survive on the Mississippi Delta: Inside the lives of some of America's poorest people

The national poverty rate is about 15 percent; it's 22 percent for Mississippi. In most Delta counties, it's 30 to 40 percent.

Aug 07 10:10

Duterte’s ‘golden age’ of infrastructure hits the peso

Gee! Wonder who is manipulating the Peso. The NWO Boys don't like this guy.

While the peso’s dip is raising eyebrows in a region where the Thai baht and the Malaysian ringgit are flirting with multi-year highs, it’s come mainly because the Philippines, one of the world’s fastest growing economies, has been enjoying a construction boom.

Besides private construction, companies like Teravera are confident of more contracts coming from the government’s drive to upgrade its dilapidated roads, railways, ports and airports, which have been a drag on the economy.

Aug 07 09:50

Former Facebook exec warns society will collapse into chaos and conflict within 30 years as robots put half of humans out of work (and he's living as a recluse in the woods to avoid it)

Antonio García Martinez, a former Facebook product manager and Silicon Valley author, became terrified of technology and quit his job to live a life as a recluse with a bucket toilet and assault weapon in the woodlands north of Seattle.

'You may not believe it but it's coming, and it's coming in the form of a self-driving truck that's going to run you over,' he told the BBC in an upcoming two-part BBC documentary 'Secrets of Silicon Valley'.

Aug 07 09:33

Germany economy on edge: Shock PLUNGE in industrial output is biggest fall in six months

GERMANY's industrial output sank in June sparking fears for the eurozone's largest economy, which is heavily dependent on manufacturing.

Factory and construction firms output fell by a an economically damaging 1.1 per cent, the biggest fall in six months, according to the latest data from the German Economy Ministry.

Aug 07 09:31

Scrimping EU to pull £4.3bn from Turkey while snatching cash from UK to fill Brexit hole

THE cash-strapped European Union (EU) is set to withdraw its promise to hand £4.3billion in pre-accession aid to Turkey in a bid to bridge the financial gap left by Brexit.

Günther Oettinger revealed it is very “unlikely” the money, designed to bring Europe and Turkey closer together, will be paid to Ankara as tensions deteriorate between both countries.

Aug 07 09:18

Merkel horror: EU chief says Germany will have to pay up to £9BN to fill UK's Brexit hole

GERMANY could have to pay up to an extra £9 billion a year into the EU budget to cover the black hole left by Brexit, the bloc’s finance chief has admitted.

Aug 07 08:31

Against all odds, BRICS nations get their act together

Despite the China-India border standoff, US economic warfare against Russia, and other woes, the five countries' trade ministers concentrated on creating conditions for better cooperation

Aug 07 08:28

Russia vows move to cut reliance on dollar

Russia will speed up work on reducing its dependence on US payment systems and the dollar as a settling currency in response to US sanctions, RIA new agency cited Deputy Foreign Minister Sergei Ryabkov as saying on Monday.

Aug 07 08:28

Overbrook bakery closes, blames city soda tax

CC Orlando & Sons, which baked countless wedding and holy communion cakes and pastries since its founding on an Overbrook corner in 1948, closed after business Sunday.

The Orlando family cited not only the challenges of the baking business in these days of ubiquitous Dunkin’ Donuts shops and 24-hour supermarkets but the city’s 1.5-cent-per-ounce tax on sugary beverages and a recent rise in property assessments.

“The soda tax was the kill shot,” said Anthony Voci Jr., a grandson of Christopher Columbus “Chick” Orlando and now a lawyer in Philadelphia.

Aug 07 08:25

TRUMP IS WINNING AND MORE AMERICANS WORKING THAN EVER: LIBERALS STILL TALKING ABOUT RUSSIA

The number of employed Americans hit a record high of 153,513,000 in July, according to the latest numbers released by the Bureau of Labor Statistics. There were 345,000 more Americans who gained employment over the month, and more individuals joined the labor force as well.

Aug 07 08:15

Iraq Races To Fill The Gap Left By The Saudis

Iraqi oil exports topped 100 million barrels in July, but that’s still lower than the 3.93 million barrels per day rate Baghdad boasted back in May.

The latest figures from the Iraqi Oil Ministry do not include exports from Kurdistan, which reach international markets via the controversial Kirkuk-Ceyhan pipeline. SOMO, the national oil distribution company, said all the exported oil had originated from central and southern oilfields.

June data shows Kirkuk exporting 677,413 barrels, or 22,000 bpd. It remains unclear whether shipments from the area, formally under the control of the Kurdistan Regional Government (KRG), have been affected in July.

Aug 07 07:29

Russia to reduce reliance on US dollar & payment systems in response to sanctions

The blackmailed dummies in the US Congress just shot the USA in the ass!

The Russian government will intensify efforts to cut the country’s dependence on US payment systems and the dollar as a settling currency, said Deputy Foreign Minister Sergey Ryabkov on Monday, as quoted by RIA Novosti.

Aug 07 02:31

Not All Capital Is Equal; Some Is Destructive

Aug 06 16:23

Facebook employees are HOMELESS and living out of their own cars

A Facebook contractor named Unique ‘Pinky’ Parsha has recently stated in public that she had been forced to live out of her car due to the high cost of living in the Silicon Valley. According to Parsha, she used to rent in the northern California neighborhood where the high rental rates for apartments, in combination with her student loans and medical bills, had led her to eventually becoming homeless.

Parsha, a mother of two, had been living in her car for four months before announcing her situation to the public. In doing so, she hopes to initiate a dialogue on fair compensation and the relatively high rental rents in the Silicon Valley.

Aug 06 16:02

How Concerning Is The Transports Divergence?

Aug 06 13:37

The End of Retail as We Know It

Aug 06 13:21

Chaos Hits Barcelona’s Tourist Industry

Aug 06 11:09

Weather-based MIND CONTROL: Mobile app advertisers check the weather in your area to decide what ads will influence you the most

According to a recent study published in the INFORMS journal Marketing Science, certain weather conditions have a significant effect on how consumers respond after seeing an advertisement. For example, the study found that on sunny days, consumers respond to mobile promotions 73 percent faster and at a rate 1.2 times higher than they normally do. By contrast, response to mobile promotions during raining conditions was .9 times lower and 59 percent slower than the response to advertisements during cloudy weather.

Strangely enough, the consumer response to advertisements on cloudy days with isolated moments of sunshine was extremely positive. People were far more likely to interact with an ad when there were a few bursts of sunshine scattered throughout the day than they were when the weather was dark, gloomy and rainy.

Aug 06 10:41

MOLINA HEALTHCARE HAS LOST $230 MILLION SO THEY ARE EXITING THE OBAMACARE EXCHANGE

Molina Healthcare has announced it is exiting the Obamacare exchanges in Utah and Wisconsin and has experienced a $230 million loss in the second quarter of 2017.

Aug 06 10:28

Meet ‘Spoofy’. How a Single entity dominates the price of Bitcoin.

This story is about a trader, or a group of traders, or possibly even Bitfinex themselves manipulates the price of Bitcoin. The past few months I’ve slowly collected screenshots of a trader I like to call ‘Spoofy’. You’ll see evidence of spoofing, wash trading, a sketchy scheme associated closely with Bitfinex known as ‘Tether’ among other shenanigans.

Spoofy makes the price go up when he wants it to go up, and Spoofy makes the price go down when he wants it to go down, and he’s got the coin… both USD, and Bitcoin of course to pull it off, and with impunity on Bitfinex.

Aug 06 05:59

When Will the Tech Bubble Burst?

Aug 05 08:16

Vending Machines Are The Latest Threat To US Retailers

In a bid to undercut US-based brands, “fast fashion” purveyor Uniqlo announced this week that it will begin selling its clothes in vending machines, a common practice in Japan, where Uniqlo’s owner, Fast Retailing Co., is based. All told, the company plans to open 10 machines in and around New York City, Oakland and Houston, according to MarketWatch’s Ali Malito, who reported that brands are increasingly selling consumer goods like clothing out of vending machines as part of a “growing trend” as they “look for new ways to sell their goods" amid a flood of brick-and-mortar bankruptcies.

Aug 05 07:21

Stocks – The Great “Wealth” Equalizer?

Aug 04 21:46

Milk-Bar Clausewitzes, Bean Curd Napoleons: In the Reign of Kaiser Don

Political Science from Fred On Everything!

Why do those inadequate little men in Washington and New York dream of new wars? Because the empire is near a tipping point.

Washington must either either start a war in Korea, or gets faced down by the North, its carriers ignored, its bombers “sending signals” and making “shows of force” without result. For the empire this is a loss of face and credibility, and an example to others that America can be challenged.

Aug 04 18:38

“The Whole System Will Be Wiped Out” Expert Warns of Financial Meltdown - Tess Pennington

For years there has been a lot of financial noise. While many of us are novices at understanding stocks and economics, one thing is for certain, things are not right. In fact, our economy has not been right since the government’s rescue attempts of the “too big to fail” corporations and the housing bubble that peaked in 2008.

But how much longer can they prop up our financial system? Economic advisors such as Martin Armstrong, developer of the Economic Confidence Model, theorizes that boom-bust cycles occur once every 3,141 days, or 8.6 years (the number pi multiplied by 1000).

His charts warn of a global economic shift occurring where many trends will have reached their life cycle in 2017. If you have been following the stock market, you are well aware of the incredibly inflated stock market prices and over priced real estate markets.

Aug 04 18:31

Baltimore Chaos - Ceasefire In "Violence-Plagued" City Starts Today

A ceasefire between Baltimore “gang leaders, drug dealers and others linked to the violence” has been agreed on and will come into effect on Friday.

This is an act of desperation from a community that is currently experiencing a homicide rate doubled of Chicago’s and a murder count higher than NYC. The ceasefire aims to stop the killings for at-least 72-hours, starting on August 04-06.

The slogan selected by organizers gets right to the point: “Nobody kill anybody”.

Webmaster's Commentary: 

Fingers crossed, that this can hold, at least for a little while.

But when the city's economy is well and truly flushed; Numbers of Baltimore unemployed
and the educational system has truly failed its public school students; "It's Absurd" - 6 Baltimore Schools Have Zero Students Proficient In State Math, English Tests, you have a recipe for disaster.

Couple that with drugs and the gangs which run the city, there is a potential for volatility which can easily spiral out of control, as the situation now exists.

Aug 04 13:30

EU Imposes More Sanctions Against Russia, Blacklists Deputy Minister

The European Commission has decided to broaden sanctions against Moscow on Friday. As RT notes, more Russian individuals and firms accused of delivering Siemens gas turbines to the Crimea have been blacklisted.

The updated blacklist includes Russian Deputy Energy Minister Andrey Cherezov, the head of the department of operational control and management in Russia's electric power industry Evgeniy Grabchak and state firm Technopromexport CEO Sergey Topor-Gilka.

As we detailed earlier, this was expected.

The European Union is expected Friday to expand sanctions against Russian individuals and companies that were allegedly involved in the transportation of at least four Siemens turbines to Russian-controlled Crimea in violation of an international ban, according to Reuters.

Webmaster's Commentary: 

I would be willing to bet that Russia's retaliation will be both swift; and severely economically painful.

Aug 04 13:16

Putin Should Thank US for Sanctions: Russia and Iran Ink $2.5 Billion Deal

Russia and Iran signed a $2.5 billion deal on Monday to start up a much-needed rail wagon production operation. The agreement was forged between the Industrial Development and Renovation Organization of Iran (IDRO) and Transmashholding, who is Russia’s largest rail equipment supplier. The two sides will set up a new joint venture, which will be 80% owned — although completely funded — by the Russian partner.

Iran is currently in the midst of what could be called an infrastructure building bonanza. Emerging from decades of sanctions which left much of the country’s transportation infrastructure descending into proverbial ruins, Iran has embarked upon a near complete rebuild of its highway and rail networks. The country is expected to add on 15,000 kilometers of new rail lines in the next five years alone — a rapid expansion which is going to require 8,000-10,000 new wagons each year.

Webmaster's Commentary: 

I love the smell of irony in the morning!!

Aug 04 11:58

Printing Half A Quadrillion Dollars

Stock investors are rejoicing about stock markets making new highs in many countries, totally oblivious of the risks or the reasons. It seems that this is an unstoppable rally in a “new normal” market paradigm. No major increase is expected in the inflation rate or the historically low interest rates. The present rally has lasted 8 years since the 2009 low. There is virtually no fear in markets so investors see no reason why this favourable climate would not continue for another 8 years at least.

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