ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 23 15:43

Is There A Risk Of Sell Off In Crude Oil?

Crude-oil, a commodity making billions of dollars became a losing game in 2014.

Feb 23 14:03

Delinquency Rates Reaches Highest Since 2009. Should You Be Worried?

Rising household debt is not the only concern for US homeowners. A rising rate of delinquencies is making the credit situation even worse.

Feb 23 12:54

Shadow CIA Group Warns the End of the Eurozone May Be Near; Including a Collapse of the Currency

Stratfor, referred to by Barron's as "The Shadow CIA," is out with a video clip providing insight into its concerns that the end may be near for the Eurozone and that the euro may collapse.

Feb 23 11:13

Is EU Getting Worried About High Debt?

Debt is not just an American or Chinese problem.

Feb 23 11:03

Rise of populism could jeopardise Europe's economic recovery, says Moody's

Money managers' survey conducted by global ratings agency deems populism as the biggest threat to economic progress in Europe.

Webmaster's Commentary: 

"The debt-slaves are breaking free! The debt-slaves are breaking free! The debt-slaves are breaking free!!!" -- Money Junkies

Feb 23 09:01

This Rally in Stocks is Doomed: Goldman

Hoped-for tax reform & infrastructure spending will disappoint.

Feb 23 07:57

Is the US Restaurant Recession Becoming Structural?

“Flat sales” are now a “welcome change.” The New Normal.

Feb 23 07:03

ALL EYES ON FRANCE? BEHIND THE SCENES…

For some time I've been urging that the current political-cultural climate should be viewed "whole", and that we're witnessing an historical arc of unprecedented uniqueness. We are, I've been urging, in one of those periodic paradigm shifts that seems to happen about once every five hundred years, the last one being the Reformation, Counter-Reformation, the Thirty Years' War, and the Peace of Westphalia, which basically cemented our modern laissez faire attitude to religion and the secular state. But this current change, I've been urging, is unlike any other in prior human history, and hence has no real precedents. It's being driven by unprecedented technological change and development which in turn is rendering more and more human labor productivity moot, and that in turn impacts the financial system and model under which we currently operate moot.

Feb 23 06:45

Special Solari Report – American Suicide: Proposals for Constitutional Amendments & Convention w/ Edwin Vieira, Jr.

America’s sovereign finances have been operated outside the law for some time. Since fiscal 1998, the federal government has refused to publish audited financial statements and has reported over $11 trillion in undocumentable adjustments. Solari Report subscribers have heard for years about black budgets, hidden systems of finance, trillions in money going missing from the US government accounts, all constituting a “financial coup d’etat. Clearly, there have been significant violations of provisions in the US Constitution and law related to management of resources and assets.

You would expect that we would hear a growing chorus of both conservatives and progressives insisting that Congress comply with the law with respect to the management of our finances. Where is our money? Which mechanisms should we use to get it back? However, that has not happened. Instead, we see a push for Constitutional amendments and conventions.

Feb 22 17:04

California DemRATS Planning Speed Cameras, Photo Radar, Higher Gas Tax, Registration Fees, Zero Emission Cars

Here are five very important legislative updates from the editor of the great site HighwayRobbery.net: On Feb. 7, 2017 a bill was filed to start the use of photo radar (speed cameras) in California. There's been six previous attempts, just in the last ten years, but the new 2017 attempt is much better organized and planned. The proposed law, AB 342 (Chiu, San Francisco) was written by the cities of San Francisco and San Jose and as filed restricts the cameras to just those two cities. But it is likely that later in 2017 other large and small cities could ask to be added as two of the co-authors of the bill represent a number of medium size cities near San Jose and there are Vision Zero programs in Los Angeles and San Diego.

Feb 22 15:37

Booming British Economy Continues To Defy Brexit Doom-Mongers

Britain’s economy grew by more than previously reported in the last quarter of 2016, according to official figures – despite Brexit scaremongering.

The UK’s GDP grew by 0.7 percent in Q4 of last year – up from the 0.6 percent originally estimated by the Office for National Statistics (ONS).

Feb 22 15:14

IRS Doesn't Tell 1 Million Taxpayers That Illegal Immigrants Stole Their Social Security Numbers!

officials never bothered to tell the taxpayers themselves

Feb 22 15:11

This is Why World Trade is the Weakest Since 2009: World Bank

Despite what you may think, it’s not due to protectionism.

Feb 22 14:14

Here Are Multiple Signs That Indicate That The US Is In A Recession

Shaeuble says the problem with Greece is not the debt its their reforms. Australia is going to try zero percent down for homes, we all know how that turned out. Macy's, Walmart and Toy R Us show declining sales.

Feb 22 11:48

Arizona Sheriff Releasing 400 “Criminal Illegal Immigrants” Every 10 Days

An average of 400 “criminal illegal immigrants” are being released every 10 days by the newly elected sheriff in Arizona’s most populous county, federal law enforcement sources tell Judicial Watch, many of them violent offenders. It’s part of Maricopa County Sheriff Paul Penzone’s new policy to protect illegal aliens, even those who have committed serious state crimes, from deportation. Under a longtime partnership between the county and the feds, the Phoenix field office of Immigration and Customs Enforcement (ICE) was notified when “aliens unlawfully present with additional Arizona charges” were released from the Maricopa County Jail, which is one of the nation’s largest with a population of about 8,000. That ended when Penzone, who refers to illegal immigrants as “guests,” took office this year and, though he formally announced the change last week, it was put into practice much earlier.

8 U.S. Code § 1324 - Bringing in and harboring certain aliens(a) Criminal penalties

Feb 22 10:53

16 CEOs Urge Congress To Pass ‘Big & Bold’ Tax Reform, Including Border Tax

Top executives from 16 major companies joined together in a letter to lawmakers on Capitol Hill, strongly recommending tax reforms and a controversial border tax to stimulate growth for US companies and taxpayers.

Feb 22 09:48

Soda companies, supermarkets report 30-50 pct. sales drop from soda tax

Two months into the city’s sweetened-beverage tax, supermarkets and distributors are reporting a 30 percent to 50 percent drop in beverage sales and are planning for layoffs.

Webmaster's Commentary: 

Another government action that wasn't thought all the way through.

Feb 22 09:45

France Is Forcing Its Employees to Power Down: Will It Work?

The year was 1998. I had just graduated from college and was working as an entry-level account coordinator in a large PR agency in New York City. I worked hard, but my days ended at 6PM when I left the office. Within the next year, though, Ethernet access at home had become a reality. Suddenly, I was expected to be on call for my boss for any and all client needs. I was irate. I felt I did not make enough money for this. I had experienced the freedom of a solidly eight-hour workday, and I wanted that freedom back.

It would never happen. Over the next several years, diffuse working hours would become so pervasive that France – as a country – felt the need to strike back. In this post, we’ll talk about France’s brand new law limiting required employee communication outside of designated work hours.

Feb 22 09:29

Dallas Police and Fire Pension Backs Cutbacks to Avoid Collapse

The Dallas Police and Fire Pension is getting behind a Texas lawmaker’s plan to save the retirement system from financial collapse.

The fund’s board voted 9-0 on Monday to back a proposal by Dan Flynn, chair of the pensions committee in the state’s House of Representatives, that would raise the retirement age to 58 from 55, eliminate cost-of-living adjustments and lower a multiplier used to determine the size of officers’ and firefighters’ benefit checks, according to a summary on the pension’s website.

Webmaster's Commentary: 

So, Wall Street's mortgage-backed security fraud defunds the pensions, and ordinary workers are punished for it.

Feb 22 09:08

An Economy Of Meaning – Or Bust

It’s not often that a scientist gets to use the words love, creativity, and wisdom in a paper, especially when writing about economics. Perhaps that’s because economics, the dismal science, is obsessed with dismal systems – make that abysmal systems, relative to need.

Feb 22 09:07

US Treasury Calls On IMF To Monitor Currencies, Provide 'Candid' Analysis

US Treasury Secretary Steven Mnuchin has urged the International Monetary Fund (IMF) to provide “frank and candid analysis” of exchange rate policies in member countries.

A Treasury spokesman said the plea was made in a phone call with IMF Managing Director Christine Lagarde on Tuesday.

Feb 22 09:05

Trump’s New Budget Director Supports Bitcoin

Guess who President Trump just appointed as Director of the powerful Office of Management and Budget? – Bitcoin advocate Mike Mulvaney.

Feb 22 08:49

TRUMP'S AMERICA IS OVER! JANET YELLEN IS ABOUT TO DO SOMETHING SICK TO KILL TRUMP'S DREAMS

The Market is making parabolic moves and is up a straight 11% since Donald Trump won. With a Fed meeting imminent indicators point to a sick plot by the banksters and Janet Yellen to kill Trump's plans to “Make America Great Again.” Bob Kudla joins Gary Franchi to breakdown what is coming..

Feb 22 07:26

‘EU is particularly good at doing a terrible job’ – Yanis Varoufakis

Former Greek Finance Minister Yanis Varoufakis has described the measures taken by the EU to settle the economic crisis in Greece as a “terrible job.” The comment comes as Greece agrees to new reforms that are set to help the country qualify for cheaper loans.

“Isn’t it yet another piece of evidence that the European Union is particularly good at doing a terrible job, but handling what should be a very manageable crisis,” Varoufakis told CNN on Tuesday.

Webmaster's Commentary: 

Feb 22 07:23

The Brexit Effect: HSBC Profits Fall 82%, More Sector Losses to Follow

HSBC's net profits fell 82 percent in 2016, damaged by falling profit margins, non-existent interest rates and ever-increasing regulation - and a financial analyst has told Sputnik other UK banks' annual results could be similarly dire, on much the same basis.

Webmaster's Commentary: 

I would not rule out covert economic war by Brussels against Great Britain in an effort to derail BREXIT!

Feb 22 07:18

If You Admit That You Are A Trump Supporter, It May Cost You Your Job

Many liberals that are still extremely bitter about the outcome of the election are taking out their frustrations on Trump supporters all over the country.
While there is no Federal law prohibiting your boss from firing you because of your political views, many states, including New York, California, Colorado, North Dakota and the District of Columbia, do make it illegal to discriminate on the basis of an employees’ political activity or beliefs in or out of work. Anyone who is fired for expressing themselves (especially that teacher who got in trouble over a Facebook post) should check their state laws and if possible, file a lawsuit.

Feb 22 06:27

SHOWDOWN ON HILL: 31 Years Since Last Tax Overhaul…

President Donald Trump has promised the most comprehensive overhaul of the tax system since 1986. That was when a Republican president joined forces with a Democratic House of Representatives and a Republican Senate to lower personal income-tax rates and simplify a messy and outdated tax system.

Feb 22 04:24

Virtually Everyone Agrees That Current Stock Market Valuations Are Not Sustainable And That A Great Crash Is Coming

Current stock market valuations are not sustainable. If there is one thing that I want you to remember from this article, it is that cold, hard fact.

Feb 21 23:45

Bombshell: Major Ad Agency Suspends Infowars Over Support For Trump

Major advertising agency AdRoll has suspended its syndication of Infowars product ads across millions of websites and platforms due to our support for Donald Trump.

A letter sent to Infowars explaining the decision cites the “political content” of our website as the reason for the suspension.

The letter also implies that the suspension is related to the “fake news” witch hunt that has been spearheaded by the mainstream media, citing “potentially sensitive information” that is not accurate.

The company has violated its agreement with Infowars and this represents a direct, politically motivated attack on our funding with a potential revenue loss of around $3 million dollars a year.

Feb 21 18:46

Airbnb Bans Violate Basic Property Rights

In this video, Vin Armani discusses who is behind the recent Airbnb bans in several cities and states. Forcing heavy regulations, including high minimum wage laws, onto hotels has made them too expensive for the average person. Airbnb has created opportunities for both entrepreneurs and middle-class vacationers, but the cities are siding with the hotel lobby to violate fundamental property rights.

Feb 21 14:40

Why Toronto (and Other Cities) Inflate Housing Bubbles to the Bitter End

To delay falling into a fiscal and financial sinkhole.

Feb 21 14:19

The Economic Recovery Illusion Is About To Be Exposed Via The Corporate Media

hhgregg looking to start closing stores. Demand for gasoline is declining which indicates that we are in a recession.

Feb 21 14:19

John Tamny "Who Needs the Fed?: Why We Should Abolish America’s Central Bank"

John Tamny talked about his book, Who Needs the Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America’s Central Bank.

Feb 21 13:54

New Virginia Law Is A First Step To Help Support Sound Money

By Michael Maharrey

A Virginia bill that would remove sales taxes from some purchases of gold and silver was signed into law by the Governor yesterday. It represents an important first step toward encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money.

A bipartisan coalition of delegates sponsored House Bill 1668 (HB1668). The legislation exempts gold, silver, or platinum bullion or legal tender coins whose sales price exceeds $1,000 from from state sales tax. Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000. ”...

Feb 21 12:48

Sovereign Debt Crisis – Cycle Due 2017

Feb 21 11:40

RUSSIA MAY IMPOSE A TAX ON CASH TRANSACTIONS

Feb 21 10:40

$350m! shaved! off! sale! price! as! Verizon! swallows! Yahoo!

Yahoo! will be gobbled by Verizon for $4.48bn, $350m cheaper than the initial deal, apparently due to the damage done to the company's value by widely reported successful cyber-attacks.

Feb 21 10:37

Government finances record £9.4bn surplus in January

Government finances recorded a £9.4bn in surplus in January, £0.3bn higher than the same month last year.

Boosted by self-assessment tax receipts, January is typically a strong month for government finances.

For the financial year-to-date, borrowing stands at £49.3bn, the lowest since the comparable period of 2008.

Economists say strong tax receipts mean the government could undershoot the forecast deficit of £68bn for the current financial year.

Feb 21 10:26

Is 50% of Western Central Bank Gold Gone?

Central Banks don’t just lease their gold to the market. They most probably also sell gold covertly. Total Central Bank holdings are 33,000 tons. Of that Western Central Banks hold around 23,000 tons of gold including the IMF holding. No one knows how much of that gold actually remains in the West.

Feb 21 09:58

Housing affordability shows that most Americans are too broke to buy a home: The American Dream moves further out of reach.

More Americans are finding it harder to afford a home. In fact, a closely followed housing affordability index is now back to where it was in 2008. Not exactly a prime time for buying homes. Most Americans are too broke to afford a home. Which is somewhat contrary to the narrative that is pumped out via pro housing propaganda. Buying a home is always a good deal! Real estate never falls! Only fools rent! So goes the story about buying real estate. Yet given current prices, many families find the dream of owning a home more of a far flung aspiration than a reasonable financial reality. We can see this trend unfolding with the vast number of new renter households over the last decade. Younger Americans are saddled with mountains of student debt and many are making lower wages. Taking on a large mortgage simply isn’t appealing or feasible when an albatross of debt is already being carried.

Webmaster's Commentary: 

Feb 21 09:50

Elite Panic As Trump Saves World Economy

A slew of economic data came out this week. Almost all of it was positive. Americans are still going to stores and spending big (retail sales came in better than expected for January).

Feb 21 09:08

Russian automaker kickstarts sales in Germany

Major Russian car producer AvtoVAZ has started selling the new Lada Vesta model in Germany, the company announced on Tuesday.

"At the moment more than 200 Lada Vesta cars have been shipped to Germany. The starting price for a sedan with a manual transmission will be about €12,500 and will reach €13,300 for automatic,” AvtoVAZ said on its website.

Feb 21 08:36

55,710 U.S. Bridges Are 'Structurally Deficient,' Fed Govt Bridge Study Reveals

An analysis of the U.S. Department of Transportation's (U.S. DOT) recently-released 2016 National Bridge Inventory data finds cars, trucks and school buses cross the nation's 55,710 structurally compromised bridges 185 million times daily. Iowa has the most structurally deficient bridges in the nation, 4,968, (20.5%) followed by Pennsylvania, Oklahoma, Missouri, Nebraska, Illinois, Kansas, Mississippi, Ohio and New York, comprising the "top ten" states with the most dangerous bridges. Perhaps not coincidentally, District of Columbia had the least number of structurally deficient bridges, with only 9 out of 245 total needing repair.

Feb 21 08:29

Say What? Denmark Paying Social Benefits to Nationals Fighting in Daesh Ranks

The Danish authorities reportedly continue making social payments to the country's citizens who have gone to fight in the ranks of the Daesh (outlawed in Russia) terrorist group in Syria.

Feb 21 08:02

Spain Sets Massive Precedent — Charges Its Central Bankers In Court

First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors.

This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensibly to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty.

Feb 21 07:57

Russia Gold Buying Is Back – Buys One Million Ounces In January

Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion.

Feb 21 07:55

Biggest Gasoline Glut In 27 Years Could Crash Oil Markets

Oil prices are stuck in a holding pattern, waiting for more definitive data on what comes next. OPEC compliance is helping keep prices afloat, but rising U.S. oil production is acting as a counterweight.

Feb 21 07:48

How Many Euro Crises Will This Make? It’s Getting Hard To Keep Track

Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air, buys up and/or guarantees all the offending country’s bonds, and calm returns for a while.

Feb 21 07:16

The Billionaire-Owned, Corporate Media is as Worthless as Ever

Rather than focus its journalistic energy on chronicling the economic insecurity plaguing so many of our fellow Americans, the billionaire-owned corporate media appears entirely obsessed with chattering endlessly about Russia conspiracy theories

Feb 21 06:57

Our Huge Hidden Tax: Government Regulations

The fact is that cutting regulations is as critical as tax relief in turning the US economy around. The two are the holy grail to repatriate a large part of the $2.5 trillion in offshore corporate capital, stimulate domestic investment, and create jobs — all central to “making America great again.” And it’s economic growth and broadening the tax base that can — in the longer run — finance rebuilding US infrastructure and the military without adding to deficits and national debt.

Feb 21 06:42

Obamacare in “death spiral” as entire system unravels

If you like your doctor you can keep your doctor. If you like your plan then you’ll be able to keep your plan. Average premiums will go down by $2,500. These were just some of the lies that Barack Obama and the democrats used to introduce the Affordable Care Act to the American people and then ram it down their throats. Everyone knows that the federal government can’t run healthcare, and yet the democrats pushed it through anyway without a single republican vote. Since its inception in 2010, Obamacare has had devastating effects on not only the lives of the people but also on our economy, with many speculating that the worst is still to come.

Feb 21 05:36

Bust: U.S. household debt nearing 2008 levels

Thanks in large part to massive student loan and credit card debt, American households are dealing with an economic reality similar to the financial squeeze in 2008.

Feb 21 05:33

In a battle between Trump and the Federal Reserve, who really wins?

To summarize, the U.S. economy and the dollar are slated for a controlled demolition. The Fed will do everything in its power to prod Trump and conservatives into war with the central bank, because the Fed is now ready to sacrifice itself and the dollar’s world reserve status in order to clear a path for a new global system and ideology. The Federal Reserve is a suicide bomber.

Feb 21 03:09

S&P 500 Earnings Stuck at 2011 Levels, Stocks up 87% Since

Grounded in some sort of new reality? LOL

Feb 20 22:36

Medical Cannabis — A Vastly Underutilized Therapeutic Option?

By Dr. Mercola

Cannabis is a vastly underutilized therapeutic option that has been wrongly vilified by U.S. regulatory agencies. In this interview, Dr. Margaret Gedde, a Stanford-trained pathologist and award-winning researcher, discusses the therapeutic value of this plant.

While initially focused on the conventional medical model, Gedde eventually transitioned over to holistic, drug-free health care in 2004. At present, she runs an alternative medical practice in Colorado, the home of medical marijuana, as it was one of the first states to widely legalize and apply it.

Gedde specializes in the use of cannabis, especially for the use of pain, thereby allowing her patients to get off dangerous drugs like opiates, which have created a public health emergency of massive proportions.

Feb 20 18:40

SWEDEN ACCEPTED 162K REFUGEES IN 2015. GUESS HOW MANY HAVE JOBS?

this is based on 2015, when 494 out of 162,000 refugees held jobs.
They’re going to be jobless and a chronic strain on the welfare systems of Europe and all other nations who allow hem entry AND they’re going to be resentful of the societies that welcomed them when they realize that they’re only ever going to be working for pennies on the dollar. They will become a permanent underclass, always dependent on the government, and with no motivation to ever accept Western values.

When it comes to the migrant crisis in Europe, the two most important questions that need to be asked is, will these refugees ever return to their homelands, and if not, will they ever be able to function in European societies? So far, the answer to the latter of those two questions is a hard no.

Feb 20 15:37

50% Of Western Central Bank Gold

We have recently had some significant news about the sovereign gold market that makes the unclarity even more unclear. Central banks and the BIS in Basel go to great length to tell the world absolutely nothing about their gold dealings.

Feb 20 15:37

Five Ways To End CEO Pay Subsidies

The more corporations pay their executives, the less they pay in federal taxes, thanks to a tax code loophole that lets corporations deduct unlimited amounts of executive compensation from their taxable income — as long as they label the pay “performance-based.”

Feb 20 15:36

Morbid Inequality: Now Just SIX Men Have As Much Wealth As Half The World's Population

Yes, inequality is getting worse every year. In early 2016 Oxfam reported that just 62 individuals had the same wealth as the bottom half of humanity. About a year later Oxfam reported that just 8 men had the same wealth as the world’s bottom half. Based on the same methodology and data sources used by Oxfam, that number is now down to 6.

Feb 20 15:31

Yes, gold IS money

Feb 20 15:30

Your Children and Grandchildren are Likely to be Very Hungry in the Future: and It’s All Down to Immigration

A stark look at the reality your children and grandchildren face is rarely discusses.

Feb 20 15:28

THE ECONOMIC EVIL OF EUGENICS

Feb 20 14:55

Luxury Home Listings “Overpriced by a Third?”

Why a real estate insider thinks era of “aspirational pricing” is over.

Feb 20 14:22

Reverse Robin Hood -Insiders confess that Federal Reserve fiat money policies "get prices up," and "transfer to the rich,"

Reverse Robin Hood -Insiders confess that Federal Reserve fiat money policies "get prices up," and "transfer to the rich," and "from those who are prudent to those who are imprudent," that it's "fantastic for every rich person," and "the biggest redistribution of wealth from the middle class and poor to the rich ever."

Feb 20 14:21

White House Budget Office Compiles 'Hit List' of Agencies to Cut

With Mick Mulvaney in place as director of the Office of Management and Budget, the White House's budget office has drafted a list of popular Democratic-backed programs that President Donald Trump could kill off while trimming government spending.

The programs could include the Corporation for Public Broadcasting, AmeriCorps, the National Endowments for the Arts and the Humanities, and the Legal Services Corporation, just part of a nine-program list Mulvaney's office has compiled, reports The New York Times Saturday.

Feb 20 13:16

Shocking rain damage is wakeup call to fix ailing roads, infrastructure, experts say

We were gripped by riveting video of the 20-foot sinkhole in Studio City that swallowed two vehicles in the wake of Friday’s storm and the 15 Freeway collapse in the Cajon Pass that flung a fire engine around like a toy truck.

But for some, it wasn’t just dramatic, breath-taking video, it was reality TV.

Besides undermining roads in a vivid way, the monster soaker underscored the need to bolster Southern California’s aging transportation network, current and former officials said Saturday.

“I’m not surprised by any of this that is happening right now because we have been delaying maintenance everywhere,” said Hasan Ikhrata, executive director of the Los Angeles-based Southern California Association of Governments.

Feb 20 12:46

Fumbling Towards Collapse

In all the smoke and fog emitted by Trump and his adversaries, it must be hard to make out the actual issues dogging this society, and even when you can, to find a coherent position on them. This was nicely illustrated in Paul Krugman’s fatuous column in Monday’s New York Times, “On Economic Arrogance” — the title describes Krugman’s own attitude to a T.

Feb 20 12:14

This Sentiment Measure Nearly Matches October 2007

The DJIA has been on a winnning streak with one all-time closing high after another. "Traders are convinced that market volatility will remain nonexistent." Our subscribers know better.

Feb 20 11:49

Lidl plans to open 600 U.S. grocery stores

Feb 20 11:01

Trump’s Defense Chief: We’re Not In Iraq To Seize Anybody’s Oil

“I think all of us here in this room, all of us in America have generally paid for our gas and oil all along and I’m sure that we will continue to do so in the future.”

The U.S. military is not in Iraq “to seize anybody’s oil”, Defense Secretary Jim Mattis said, distancing himself from remarks by President Donald Trump at the start of a visit to Iraq on Monday.

Mattis, on his first trip to Iraq as Pentagon chief, is hoping to assess the war effort as U.S.-backed Iraqi forces launch a new push to evict Islamic State militants from their remaining stronghold in the city of Mosul.

But he is likely to face questions about Trump’s remarks and actions, including a temporary ban on travel to the United States and for saying America should have seized Iraq’s oil after toppling Saddam Hussein in 2003.

Trump told CIA staff in January: “We should have kept the oil. But okay. Maybe you’ll have another chance.”

Webmaster's Commentary: 

Sec-Def Mattis, please allow me to educate you as to the origins of the US invasion and occupation of Iraq.

This invasion and occupation of Iraq was purely economic, and done to prevent Iraq's oil to be sold for any other currency than the petrodollar.

Iraq war: the dollar versus the Euro

And so, sir, what do we have in Iraq today?!? We have an absolutely destroyed Iraqi infrastructure, coupled with a completely corrupt US-Centric (and dependent) Iraqi government, and its oil sold only in US dollars.

But that was the point of the exercise, was it not?!? It doesn't have anything to do with "seizing the oil"; it has everything to do with Iraqi oil being sold only in US dollars.

You're welcome, sir!!

Feb 20 09:52

Household Debt Climbs to $12.58 Trillion, Just Shy of Its 2008 Peak

Total household debt climbed by $226 billion in the fourth quarter of 2016, rising to $12.58 trillion, according to a report from the Federal Reserve Bank of New York.

The $12.58 trillion in household debt today is only 0.8 percent shy of its 2008 peak at $12.68 trillion, when the United States was in a recession. The increase in debt in the fourth quarter of 2016 is the largest quarterly increase since the last quarter of 2013.

Most of the increase was due to credit card debt, followed by student loans. According to the report, credit card balances increased by 4.3 percent since the previous quarter, and student loan balances increased by 2.4 percent.

In the last quarter, credit card balances increased to $779 billion overall, while student loan debt balances rose to $1.31 trillion. The report also finds that 11.2 percent of student loan debt was 90 or more days delinquent or in default.

Webmaster's Commentary: 

Please try to get your credit card debt as much under control as humanly possible.

And I say that because, if there is any rise in the Federal Reserve interest rate, that will impact all credit card debt by pushing your interest rate higher.

Feb 20 09:47

"EUROPE'S LAST DICTATOR" FINALLY FINDS THE LIMITS TO POWER: TAXING THE UNEMPLOYED DURING A RECESSION

Belurusian leader Alexander Lukashenko calls himself "Europe's last dictator": he's a thug who steals elections and sends opposition politicians to forced labor camps, the kind of guy who can get away with arresting a one-armed man for clapping -- but when he imposed a "social parasite tax" on unemployed people in the recession-devastated country, it proved too much.

The mass-marches in the capital of Minsk have now spread to Gomel, the country's second city, with more demonstrations nationwide. 470,000 people are caught by the tax, but fewer than 10% have paid it.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Feb 20 09:05

Russia to be Debt Free by Year's End

Moscow will pay off the balance of the debt inherited from the old Soviet Union days this year, according to a report on Friday in the Russian newspaper, Izvestia.
The final Russian state debt is owed not to banks, but to Bosnia and Herzegovina. $125.2 billion is still owed to those nations as part of an agreement after the breakup of Yugoslavia.

Feb 20 08:54

Brazil's $12 billion Olympic legacy lies in ruins: Five months after the Rio Games, stadiums are crumbling as cash-strapped nation is left with crippling debts

Billions of dollars were spent on bringing the flagship sporting event to Brazil, with the overall cost estimated to be around $12billion. This was at a time when the Brazilian economy was in a huge recession, and state workers were being paid late, if at all.

But now the Olympic legacy lies in ruins, new photos have revealed, with arenas crumbling and already falling into disrepair.

Feb 19 15:37

FLASHBACK : The Roots of the Refugee Crisis Caused by the West

“The reason so many are fleeing places such as Syria, Libya, Afghanistan, and Iraq is that U.S. and European interventionist foreign policy has left these countries destabilized with no hopes of economic recovery,”explainedformer congressman and three-time presidential contender Ron Paul, a leading voice for a constitutional, non-interventionist U.S. foreign policy. “This mass migration from the Middle East and beyond is a direct result of the neocon foreign policy of regime change, invasion, and pushing ‘democracy’ at the barrel of a gun.”

“Contrary to what one might expect, U.S. military aid doesn’t produce willing, cooperative, or effective security partners. Instead, it incentivizes bad behavior and drives the sources of terrorism: corruption, violence, and poor governance. Unwittingly, this policy is creating its own enemies,” writes Jeremy Ravinsky.

Feb 19 12:22

The Economy Is An Illusion, Look Past The Illusion & You Will See The Crisis

UK retail declines as inflation starts to pick up. Inflation is now hitting many families as the dollar devalues. Under the central bank the value of the dollar has devalued 98%.

Feb 19 09:34

‘The eurozone isn’t working’ - Alan Greenspan

The imbalances in the economic strength of euro area countries make the continued function of the single currency area a primary concern, said former US Federal Reserve chairman Alan Greenspan in an interview with the World Gold Council.

Feb 19 09:11

THIS WEEK THE ‘ARCH OF BAAL’ WAS DISPLAYED FOR THE THIRD TIME IN HONOR OF ‘THE WORLD GOVERNMENT SUMMIT’

Did you know that 4,000 world leaders from 130 different countries gathered in Dubai this week for the World Government Summit? It was held from February 12th to February 14th, and it featured more than 100 internationally-known speakers including UN Secretary General Antonio Guterres, Christine Lagarde and Elon Musk. If you would like to know more about this shadowy group, you can visit the official website right here. The first World Government Summit was held back in 2013, and that one was actually attended by Barack Obama. Unfortunately the mainstream media in the United States was almost entirely silent about this summit, so most of us in the western world didn’t even hear about it.

To honor the spirit of this summit, a reconstructed version of Palmyra’s Arch Of Triumph (also known as the Monumental Arch) was erected in Dubai. Previously it had been put up in London and New York City for brief periods of time, and so this marked only the third time that it has been displayed.

Webmaster's Commentary: 

There is a real problem for the "Globalistas", which is... their vision of a one -world government cannot possibly work for the people of the countries enslaved by it. Such a world cannot be a utopia; only a dystopia.

And that is where the Globalista's vision falls prey to revulsion and revolutions. Once people have a taste of freedom from tyranny, they will not go back and re-embrace tyranny; it is just that simple.

Feb 19 08:39

The Huge Economic Issue that Washington Isn't Talking About

Within the next 10 years, there's a good chance that 50% of the jobs today will be gone.And no one in Washington is talking about what to do to deal with this likelihood.

The cause of this coming massive economic upheaval is artificial intelligence -- a catch-all term that encompasses everything from driverless cars to sex robots. Its impact is already being felt on the factory floor, where smart machines are making American manufacturers more competitive, more efficient, and more profitable, but without the mass number of workers that used to be the backbone of the American economy.

Donald Trump says he can change all this, that he can bring these jobs back from overseas, or prevent illegal immigrants from taking them. And the president isn't alone. The Democratic Party and the AFL-CIO still believe that a manufacturing Renaissance is possible.

Feb 19 08:24

Merkel Says There Is A "Problem" With The Euro, Blames Mario Draghi

Two weeks ago, German finance minister Wolfgang Schauble confirmed Donald Trump's charge that the Euro is far "too low" for Germany, but said he is unable to do anything about it and instead blamed Mario Draghi. “The euro exchange rate is, strictly speaking, too low for the German economy’s competitive position,” he told Tagesspiegel on February 5. “When ECB chief Mario Draghi embarked on the expansive monetary policy, I told him he would drive up Germany’s export surplus?.?.?.?I promised then not to publicly criticise this [policy] course. But then I don’t want to be criticized for the consequences of this policy.”

Then, on Saturday, his boss German Chancellor Angela Merkel echoed her finance minister, and also admitted that the euro is indeed "too low" for Germany, but once again made clear that Berlin had no power to address this "problem" because monetary policy was set by the independent European Central Bank.

Feb 19 08:24

Norway Central Banker Warns Of Massive 50% Drop In Wealth Fund Assets To Cover Budget Deficits

Back in August, we noted that, for the first time since it's creation in 1996, the Norwegian government had started raiding its sovereign wealth fund in 2016 to cover government deficits. Then in October the Nordic country revealed plans to massively increase withdrawals by over 25% in 2017, to $15 billion, to cover a budget hole that was expected to be roughly 8% of GDP.

That said, Norway's ultimate GDP potential, and therefore budget deficits, are heavily dependent on oil prices so any further weakening of crude could result in even more withdrawals. Moreover, given the substantial YoY increase, it's important to recall that there are fiscal limits imposed on fund withdrawals equal to 4% of assets, or roughly $36 billion, which could come into play at some point in the future if oil prices remain "lower for longer."

Feb 18 22:14

Angela Merkel admits euro’s FAILURES as she hints at bringing Deutsche Mark BACK

UNDER FIRE German Chancellor Angela Merkel has hinted for the first time that she believes the Deutsche Mark is more valuable than the Euro.

In a telling statement issued during the visit of US vice-president Mike Pence to Munich, Frau Merkel revealed even she is becoming concerned with the European wide currency.

And amid calls for the Deutsche Mark to be returned in her native Germany she said the ECB's policy is not geared towards her country and benefits other member states.

The 63-year-old Christian Democrats leader, who is facing being booted out of office over her failed policies, said she believed the country's former currency would have a "different value" if it was still in place.

And she implied her country's involvement in the single currency, which is used by 19 of the 28 member states of the European Union, is propping up less productive economies.

Feb 18 18:19

Impact Investing And Venture Philanthropy’s Role In Sowing The Seeds Of Financial Opportunity

In the late 19th century many U.S. industrialists – Andrew Carnegie, John Pierpont Morgan, John D. Rockefeller and others – who amassed immense wealth through the exploitation and degradation of workers (including children), began to establish philanthropic trusts and foundations. Oil monopolist John D. Rockefeller (senior) described this social mission as a divinely inspired “business of benevolence.” Accordingly, historian Benjamin J. Soskis reports that Rockefeller declared in 1906:

Feb 18 16:07

Tax Break For ‘Sexy Beaches’ Riles Florida GOP

Florida Governor Rick Scott and the House of Representatives and are at each other’s throats over a tourism dispute that began with a tax break given to rapper Pitbull for his “Sexy Beaches” music video.

A 10-5 vote led by Republicans in the House subcommittee on careers and competition ended support for Visit Florida, a private organization receiving equal funding from the state and private contributions. Governor Scott had some harsh words for those House Republicans.

Feb 18 15:11

When Sovereign Defaults Create a Depression

The 1840 Presidential Election took place in the midst of a great depression that was set in motion by State Sovereign Defaults after Andrew Jackson shut down the Bank of the United States, which acted as the central bank.

Feb 18 13:19

Multi-Billion Dollar Investors Urge Bankers To Divest From #DAPL

More than 120 investors with over $650 billion in assets in banks financing the Dakota Access Pipeline have called on the financial institutes to support the Standing Rock Sioux Tribe’s call to have the pipeline rerouted from Native American land.

Feb 18 13:01

Worse Than a Decade of Stagnation - Retail Sales Are Held Up By Only Two Sectors. The Rest Are Sinking.

There are two components of “retail and food services sales” that have been booming over the past few years through the fourth quarter 2016. And then there’s all the rest combined – 71% of total retail sales – that has been in decline since the third quarter of 2008. That’s the tough reality of retail sales in the US.

Feb 18 12:24

WALMART COLLAPSE! WARREN BUFFET JUST DROVE A STAKE THROUGH THE HEART OF WALMART, THEY’RE GOING DOWN!

Investor Warren Buffett has sold off 89 percent of his shares of Walmart as the giant retailer fights Amazon for a share of the e-commerce market. Buffett’s Berkshire Hathaway announced Tuesday that it had sold off $900 million of Walmart stock as it invested elsewhere.

Feb 18 10:28

Andrew Hoffman – Everything is Going Down!

Feb 18 08:44

America Too Broke to Fix Crumbling Infrastructure? “Bridges, Roads, Airports In Long Term Collapse”

It is certainly solid to suggest that the entire national infrastructure is in bad need of an overhaul. Bridges, roads, tunnels, sewage, water pipes, the electric grid and more are corroded, toxic, faulty and blemishes. They reflect the vibrance and prosperity of the country, and it is no surprise to find the worst cases of these failing public works in some of the most economically depressed areas of the country, with high unemployment, and in the big cities where too many people are crammed together and overflowing the various utilities and roadways.

Feb 18 08:21

Why Are Your Payroll Taxes So High?

Did you know the government deducts money out of every paycheck you get? Do you know where that money goes? Watch this short video on payroll taxes to learn more.

Feb 18 07:49

European Union as NATO’s Auxiliary Economic Alliance

In a recent interview, Donald Trump has praised Britain for opting out of the European Union and called it a smart move. Moreover, he also said that the NATO military alliance is obsolete and it needs reform. In order to understand his remarks, we should keep in mind that both NATO and EU were conceived during the Cold War to offset the influence of the Soviet Union in Europe. Therefore it is not a coincidence then that the Soviet Union was dissolved in December 1991 and the Maastricht Treaty that further consolidated the European Community and laid the foundations of the European Union was signed in February 1992.

Feb 18 07:31

This once prosperous Greek builder is now living in a shack as his country’s economy collapses under the weight of German diktats and a never ending tide of migrants, says SUE REID 

‘We don’t like Mrs Merkel or Mr Juncker,’ he says with fervour. ‘We are better out of the Euro and Europe. I congratulate Britain for voting Brexit, closing borders, and hope we do the same thing because it will be better for us.’ His sentiment is shared by many Greeks.

Feb 18 07:20

Hitler's American Business Partners

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