ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 22 17:07

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s private wealth by the year 2021.

Jun 22 16:30

The Bitcoin Economy, in Perspective

Jun 22 15:50

Investors Have Become Brain Dead

Jun 22 15:44

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray. Prior to that, I had bought into the absurd assumption that I was financially successful at a young age primarily because I was hard-working and talented.

Jun 22 15:41

Now Comes The Fiscal Year From Hell

Four things are not going to happen in the Imperial City before October 1. That is, there will be no bill to repeal and replace Obamacare, no sweeping tax cut stimulus, no debt ceiling increase and no appropriations bills for FY 2018, which happens to commence on that date.

Jun 22 15:39

Debt Crisis 2.0: How the Pieces are Falling into Place

As the amount of household debt rises, so does the risk of another financial crisis. A new milestone has been reached in the U.S.

Jun 22 15:17

Welcome to Deflation

People are just starting to grasp why deflation is also present in the USA. Despite all the screaming about Quantitative Easing, most remain confused why hyperinflation has not taken place.

Jun 22 14:51

George Carlin - It's a big club and you ain't in it

You see, the owners of this country know the truth. It's called the American dream. Cause ya have to be asleep to believe it.

TRANSCRIPT + VIDEO

Jun 22 14:45

Robert Kiyosaki podcast – a banking revolution taking place

Banking is rapidly changing at the hands of financial technology.

Jun 22 14:43

We Can Pretend All We Want, The US Is In A Recession & Heading For The Big One

Retail sales continue to decline, when compared to wages we can see as wages are dropping so are sales. GE is in trouble, they do not have enough to meet their pension obligation.

Jun 22 14:34

Hawaii's largest homeless camp: rock bottom or a model refuge?

Tucked around a corner, a woman named Twinkle Borge greeted the schoolkids from her metal folding chair. A seven-year-old girl tugging a red wagon full of water jugs paused to give Borge a kiss on the cheek. Then all three walked into their home: the largest homeless encampment in Hawaii.

Remarkably, some 200 people live there, and six infants were born there over the past year alone. Even in the state with the highest homelessness rate in the US, it draws attention. Yet while residents acclaim it as a novel community that incorporates ancient Hawaiian principles, it is now at risk of being swept away.

“We know from what we’ve seen in the past, once an encampment goes above a certain size, it becomes unmanageable,” said Scott Morishige, the governor’s coordinator on homelessness.

Jun 22 12:59

Setup Initiated, The Central Banks Are Close To Pulling The Plug On The Economy

India joins the Bitcoin revolution. Ford is not building a plant in the US and it is not building a plant in Mexico, they decided to go to China. Illinois comptroller says they are very close to a major crisis.

Jun 22 12:04

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray.

Jun 22 11:36

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States – where America’s 1% are expected to control 70 percent of the nation’s private wealth by the year 2021.

Jun 22 10:56

Treasury Dept confiscating gold

GATA reported yesterday, and we picked up the story, about a golden rooster being confiscated by the Treasury in 1960. The rooster weighed in at a hefty 14 pounds of solid gold – that’s a lot of gold. The rooster was commissioned by a Las Vegas casino that would later become the Golden Nugget.

Jun 22 10:55

Senate Health Care Bill Includes Deep Cuts to Medicaid

Senate Republicans, who have promised a repeal of the Affordable Care Act for seven years, took a major step on Thursday toward that goal, unveiling a bill to cut Medicaid deeply and end the health law’s mandate that most Americans have health insurance.

Webmaster's Commentary: 

Ending the mandate that one MUST have health insurance is a good thing. It will force the health insurance companies to make their products attractive to consumers with lower rates and lower deductibles. A lot of people who were forced to buy "Obamacare compliant" policies wound up being severely hurt by them financially (including yours truly).

Jun 22 10:27

Why The Next Recession Will Morph into a Decades Long Depressionary Event...Or Worse

Economists spend inordinate time gauging the business cycle that they believe drives the US economy.  However, running in the background (and nearly entirely forgotten) is the population cycle.  The positive population cycle is such a long running macro trend thousands of years in the making that it is presently taken for granted. 

Jun 22 09:49

Still think crypto currencies are a store of value? Ethereum just flash-crashed 96% in a matter of minutes

In other words, just as I have repeatedly warned, on the day you want to get out of a crypto currency as it’s crashing, you won’t be able to sell. The value of the virtual currency will crash to almost zero in a matter of minutes, long before your sell transactions can be processed. This was neatly demonstrated today as Ethereum plunged 96% before most people even had a clue what was happening… all while Coinbase basically gave its users the finger.

Jun 22 09:34

Brexit boom for Britain as factory orders hit their highest level for nearly 30 years

BRITISH factory orders have hit their highest level for nearly 30 years, the CBI business organisation revealed today.

The figures will fuel optimism for Britain's economic future as we prepare to leave the European Union.

They also bear out analysis that the fall in the value of the pound since the EU referendum a year ago today, on June 23, 2016, has significantly boosted industry and particularly exporters.

Jun 22 09:22

RUSSIA vs. USA: Where’s The Gold Going??

As the United States continues to push towards a military conflict with Russia, there will likely be no real winner when the dust settles.  However, if we compare the these two superpowers in the current “gold market”, the Russians are the clear winners.

Jun 22 08:52

FLASHBACK - Stanford prison experiment

The Stanford prison experiment (SPE) was an attempt to investigate the psychological effects of perceived power, focusing on the struggle between prisoners and prison guards. It was conducted at Stanford University on August 14–20, 1971, by a research group led by psychology professor Philip Zimbardo using college students.[1] It was funded by the U.S. Office of Naval Research[2] as an investigation into the causes of difficulties between guards and prisoners in the United States Navy and United States Marine Corps. The experiment is a topic covered in most introductory psychology textbooks.[3]

Webmaster's Commentary: 

This is a famous psychology experiment, conducted in the context of a prison with guards and prisoners. In the experiment, who was a guard and who was a prisoner was decided totally by chance. But as the experiment progressed, the guards became abusive while the prisoners became submissive. As mentioned above, the experiment was canceled early because the abuse got out of hand.

Following yesterday's interview with Miriamme Azizi, it occurred to me that the dynamics of guard and prisoner apply to other situations than just prisons.

Any group, whether it be government, bankers, or clergy, that "imprisons" another group, either politically, economically, or religiously, will abuse the captive population, and over time, the abuse inevitably increases. From this simply reality, one gets dictatorship, impoverishment, sexual abuse of children, and other evils.

Following yesterday's interview with Miriamme Azizi, it is clear that this is going on in Israel, where Israel's government is increasingly abusing, not just the Palestinians, but Jewish Israelis and even Americans "imprisoned" inside Israel. And, of course, the same is happening here in the United States with an increasingly tyrannical government disrespective of our rights, and bankers, who commit fraud upon their clients with seeming impunity. And of course, the continuing problem of clergy sex abuse of children.

This is the science behind the old saying that power corrupts and absolute power corrupts absolutely. And it was awareness of this that led the Founding Fathers of the United States to design a weak central government with three separate branches to keep an eye on each other, and as a last resort, the Second Amendment right to keep and bear arms to hold an abusive government in check.

But clearly, in the face of the inevitable escalation of such abuse by our "guards", this nation is on the inevitable path to revolt. I don't like it, but I must accept it.

Jun 22 08:24

Traders Get Burned In Ethereum Flash Crash

The white hot cryptocurrency Ethereum went on a wild ride on Wednesday, plummeting from around $320 to around 10 cents in a so-called "flash crash."

...

As Adam White, the VP of GDAX, explained in a blog post, one investor placed a multi-million dollar Ethereum "sell" order at 12:30 p.m. on Wednesday. The size of the order caused the price of the currency, which is already volatile, to dip.

Things started to go really haywire, however, as the price dip triggered a series of stop loss orders.

"This slippage started a cascade of approximately 800 stop loss orders and margin funding liquidations, causing ETH to temporarily trade as low as $0.10," White explained.

In other words, the computers executing the stop loss orders began to sell at all costs and, so long as there was someone on the other side to match the order, the trade went through—even if the price was totally irrational, and driven only by an algorithmic frenzy.

Jun 22 08:20

Tech firms hoard huge cash piles

TAKE a moment to admire—and fear—the ascent of America’s big-five tech firms. Apple, Alphabet, Microsoft, Amazon and Facebook have recently become the five most valuable listed companies in the world, in that order. With a total market value of $2.9trn, they are worth more than any five firms in history.

Jun 22 08:13

ROGER STONE: END THE WAR ON DRUGS - LET TRUMP/CONGRESS KNOW!

THE UNITED STATES CANNABIS COALITION (USCC) IS A PRO-CANNABIS NON-PROFIT ORGANIZATION DEDICATED TO INFLUENCING FEDERAL LEVEL DECISION MAKERS

---VIDEO---

Jun 22 07:55

Automation's Destruction of Jobs: You Ain't Seen Nothing Yet

Employers have no choice: it's innovate/automate or die.

Jun 22 07:26

The Wheels Are Coming off the US-Driven Globalism Wagon

The battle between national sovereignty and globalism is the defining conflict of our era, and at the end of the day, it is assuredly economic in nature

Jun 22 07:20

‘We will respond’ EU prepares to STRIKE BACK as Trump’s steel war hits bloc ‘very hard’

THE United States’ proposals to slap tariffs on steel imports is hitting Brussels “very hard”, the EU’s trade commissioner has warned.

Jun 22 07:16

Moscow Resumed Cooperation With Most EU Countries, Russian Official Says

Russian Deputy Minister of Economic Development Alexey Gruzdev said Wednesday that Moscow renewed intergovernmental cooperation with two-thirds of European Union's member states, despite tensions with Brussels.

Webmaster's Commentary: 

The EU is getting off the US' anti-Russia bandwagon.

Jun 21 16:15

Bitcoin will be outlawed, or used to enslave us

A few days ago, cryptocurrencies sold off quite dramatically.

Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.

Jun 21 16:06

Is The Canadian Real Estate Market Heading Towards Crash?

Canada is a G7 country with a varied economy. As one of the US’ largest trading partners, what happens in the Canadian economy can have consequences for the rest of the world.

Jun 21 16:03

Big Step Forward for Sound Money: Texas Picks Company to Run Bullion Depository

By Michael Maharrey

The Texas bullion depository took a major step closer to reality last week when officials formally announced the private vendor that will run the facility. The creation of a state bullion depository in Texas represents a power shift away from the federal government to the state, and it provides a blueprint that could ultimately end the Fed.

Gov. Greg Abbot signed legislation creating the state gold bullion and precious metal depository in June of 2015. The facility will not only provide a secure place for individuals, business, cities, counties, government agencies and even other countries to to store gold and other precious metals, the law also creates a mechanism to facilitate the everyday use of gold and silver in business transactions...

Jun 21 15:30

America’s Oligarchs Will Control 70% Of National Wealth By 2021

A new study by the Boston Consulting Group has found that while wealth inequality is growing on a global scale, it has kicked into overdrive in the United States - where America's 1% are expected to control 70 percent of the nation's private wealth by the year 2021.

Jun 21 15:08

John Rubino–Tulip Backed Crypto-Currencies?

Jun 21 15:08

LOOK WHAT MIN WAGE JUST DID TO POOR FOLKS

Jun 21 14:54

The U.S. Economy is a Perverted, Neo-Feudal, Rent-Seeking Abomination

The banker bailouts of the 2008/09 period changed my life forever. I was working on Wall Street at the time, and the way in which the government rallied around the financial institutions that torched the world and left its victims in the dust threw my entire delusional worldview into disarray. Prior to that, I had bought into the absurd assumption that I was financially successful at a young age primarily because I was hard-working and talented.

Jun 21 14:53

$300 Billion in Government Waste Uncovered

Tim Young sat down with Congressman Steve Russell (R-OK) to speak about his military service and his semi-regular publication Waste Watch.

Jun 21 14:26

Bitcoin will be outlawed, or used to enslave us

A few days ago, cryptocurrencies sold off quite dramatically.

Bitcoin fell around 25% on average and Ethereum fell around 15% on average across major exchanges.

And as a whole, the entire altcoins market capitalization fell over 20% excluding bitcoin.

Jun 21 12:37

Sears Canada Is DONE!

Jun 21 11:14

Has Warren Been Bought By Big Banks?

The Republicans have started work on undoing the damage done to the banking industry by Dodd-Frank. Predictably Democrats like Elizabeth Warren have gone all out in defending this bill. It is one thing to support a bill in its inception without seeing its real world consequences. It is quite another to keep supporting it when the bill is put in practice. At this point we have to ask ourselves. Have Elizabeth Warren and the Democrats been bought by lobbyists from Giant banks?

Jun 21 11:13

US Coast Guard Wants Icebreakers With Advanced Missiles

The US Coast Guard has two icebreakers, but both are aging, and one is ready to be scrapped outright. That’s got the Coast Guard interested in shopping for more, and while they’re at it, Commandant Admiral Paul Zukunft would like some that you can strap a bunch of missiles to.

Talking up the substantial natural resources buried under the ice in he Arctic, Zukunft is telling Congress that they should stop seeing the icebreakers as being about breaking ice,and more about firing missiles at planes and ships threatening “US sovereignty” over whatever is buried under that ice.

Specialists are warning that re-designing America’s icebreakers around carrying arsenals of missiles might get int he way of their transitional mission of breaking ice, and not exactly in keeping with the idea of the coast guard’s search and rescue operations.

Webmaster's Commentary: 

From the Coast Guard's Department of "You CAN make this stuff up", obviously.

Jun 21 10:15

Trump Imposes New Sanctions on Russia Over Ukraine Incursion

The Trump administration ratcheted up pressure on Russia on Tuesday, unveiling sanctions on more than three dozen additional individuals and organizations that have participated in the country’s incursion in Ukraine.

The Treasury Department made the announcement on the same day that President Trump hosted his Ukrainian counterpart, Petro O. Poroshenko, at the White House to discuss a peaceful resolution to the conflict with Russia. The sanctions also came as Mr. Trump continues to face questions about whether his campaign colluded with Russia to help him defeat Hillary Clinton.

Webmaster's Commentary: 

Alan Rappeport and Neil MacFarquhar, a word, please.

You two are either the most intellectually incompetent, or completely disingenuous alleged "reporters" on the face of this planet, and an absolute and utter disgrace to those of us who report real news, as opposed to fake news. And BTW, did anyone mention to you, that the "big lie" went out with the whoopie cushion and the dribble glass?!?

FACT: President Obama admitted that the US was thoroughly complicit in the overthrow of pro-Russian Yanukovych:

Washington Was Behind Ukraine Coup: Obama admits that US “Brokered a Deal” in Support of “Regime Change”

FACT: Victoria Nuland bragged about how much the US had spent to destabilize Ukraine, and place Poroshenko into power in an election which was more crooked that is a dog's hind leg:

Victoria Nuland's Admits Washington Has Spent $5 Billion to "Subvert Ukraine"

FACT: When Crimean officials realised that there was utterly no rule of law in Ukraine when Yanukovych was overthrown, they held a referendum, asking the Crimean people if they wanted to stay with Ukraine, or petition the Russian Federation to become a member. In a free and fair referendum, Crimeans voted overwhelmingly to petition the Russian Federation to accept them as a member.

Some 95.5% of voters in Crimea have supported joining Russia, officials say.

Russia never annexed Crimea; Crimea, post-putsch, requested to become a member of the Russian Federation.

FACT: This exercise in peaceful self-determination was adjudged as "illegal" by the US and Ukraine, and the US and Ukraine have been punishing Russia for something it did not do ever since.

Gentlemen, if you EVER had a shred of credibility, it has absolutely gone down in flames, with this story; and you have done it to yourselves, in not presenting what really happened here in a truthful manner.

Jun 21 09:12

Three Indicators Put The U.S. On Track For An Economic Disaster

Brexit talks begin and they will continue until a deal is reached, that is the plan. Housing bubble 2.0 is getting ready to pop, the Fed is removing the helium tot his bubble.

Jun 21 08:50

Trump Was Right: New Study Reveals Up to 5.7 Million Illegals Voted in Election

A new study reveals that up to 5.7 million illegal immigrants were likely to have voted in the 2008 election,

Jun 21 08:25

Most refugees to stay jobless for years – German minister

Up to three-quarters of refugees in Germany will still be unemployed in five years’ time, according to the country’s commissioner for refugee integration Aydan Ozoguz.

Jun 21 08:19

Bitcoin Surges Back Above $2700 As India "Legalizes" Cryptocurrency

After crashing 30% last week, Bitcoin is now up over 33% in the last few days helped by a surge in demand from India exchanges after the India government ruled Bitcoin as legal in India...

Jun 21 08:17

Lavrov on New Anti-Russian Sanctions: Russophobic Obsession in US Goes Too Far

Commenting on new US sanctions against Russia, Foreign Minister Sergey Lavrov said Tuesday that "Russophobic obsession" in the United States has gone "beyond all bounds," adding that they will not "improve the atmosphere" in the relations between the powers.

Jun 21 07:37

Danielle DiMartino Booth - Fed Trying to Cripple Trump Economy, Gold Could Take Off Like a Hockey Stick

Financial expert and former top Federal Reserve insider Danielle DiMartino says, “I think gold is in the very late stage of a correction phase.

Jun 21 07:17

Harry Dent: Car Sales Were Always Going Over This Cliff

The Retail Apocalypse.

Carmageddon.

Same story.

Different industry.

Jun 21 07:14

Even Japan Is Now Considering Joining China's One Belt, One Road

Japanese Prime Minister Shinzo Abe’s olive branch to the “One Belt, One Road” Initiative (OBOR) last week heralds the potential of a relaxing of Japan’s posture toward China. Speaking at a forum on Asia’s future in Tokyo on June 5, Abe said that Japan was ready to cooperate with OBOR under certain conditions.

OBOR is Chinese President XI Jinping’s 2013 initiative, involving both a land-based economic Silk Road and a maritime trade corridor linking China, Southeast Asia, India, Africa, and Europe. While Xi states he wants to create a “big family of harmonious coexistence,” skeptics see a thinly disguised attempt for China to position itself as a regional leader, replacing the United States’ traditional role.

Jun 21 06:47

Ford Shifts Production of Focus to China, from Michigan and Mexico, as New CEO Cuts Costs

“Improving the company’s operational fitness.”

Jun 21 06:34

69 Percent Of Americans Do Not Have An Adequate Emergency Fund

Do you have an emergency fund?  If you even have one penny in emergency savings, you are already ahead of about one-fourth of the country.  I write about this stuff all the time, but it always astounds me how many Americans are literally living on the edge financially. 

Jun 21 05:59

UNITED NATIONS ECONOMIST ARRESTED FOR OVERWORKING AND UNDERPAYING A MAID; STIGLITZ CO-AUTHOR

A United Nations economist has been arrested in New York on fraud charges related to his hiring of a domestic worker. Hamidur Rashid was charged Tuesday in federal court. Authorities say the 50-year-old employee in the United Nations Secretariat underpaid and overworked a domestic worker at his Manhattan residence.

Jun 20 18:52

You Think Hawaii is Expensive Now? Wait Until The Universal Basic Income

By Jeff Paul

I spent three years in Hawaii. It’s obscenely expensive to live there. Real estate, food, electricity, health care, and travel costs are significantly higher in Hawaii than on the mainland. And incomes aren’t rising fast enough to match rising cost of living. As a result, many natives rely on government aid to survive. This week, Hawaii passed a new measure to study the universal basic income (UBI) as an attempt to address this problem.

But will it make costs even higher?

The bill, House Concurrent Resolution 89, declares that all families are entitled to basic financial security and empowers a number of government offices to evaluate universal basic income options...

Jun 20 16:36

Hong Kong Warns: Its Housing Bubble is a “Dangerous Situation”

The HK financial system is “very strong” and “can withstand an adjustment in the property market.”

Jun 20 16:08

Teamsters private pension near bankruptcy; benefits of 407,000 retirees may be ‘virtually nothing’

America’s public (i.e, government) and private pensions are in trouble. The difference is that the government pensions don’t go bankrupt because Uncle Sam hits taxpayers to continue funding government retirees.

Now, one of America’s biggest private pensions — the Teamsters’ Central States Pension Fund that covers more than 1,500 companies across a range of industries — is nearly bankrupt.

The fund currently pays out $3 for every $1 it takes in.

Jun 20 16:07

Argentina (!) Sells 100-Year Dollar-Denominated Junk Bonds

Yield-desperate investors stop before nothing. What have central banks wrought?

Jun 20 15:54

The Petrodollar System and the Petrodollar Wars Explained

The petrodollar system was set up by Kissinger in circa 1975 to drive up the demand for U.S. dollars.

Jun 20 15:54

Illinois Comptroller: “The State Can No Longer Function, We Have Reached A New Phase Of Crisis”

"The state can no longer function without a responsible and complete budget without severely impacting our core obligations and decimating services to the state's most in-need citizens," Mendoza wrote. "We must put our fiscal house in order. It is already too late. Action is needed now." -- Unveiling the most dire langage yet, in her letter Mendoza said "we are now reaching a new phase of crisis" perhaps in an attempt to prompt the Democrats and Republicans to sit down and come up with a compromise...

Jun 20 15:53

Financier found dead after gay bondage hookup went bad: cops

A Brooklyn financier was found naked and dead in his tony Dumbo pad — after a gay bondage hookup went awry, police sources said Tuesday.

Neil Rodney Smith, 57, CEO of the investment firm Infraccess, was discovered lying on his back in bed with a wet towel stuffed in his mouth and a pillow over his face inside the apartment at 1 Main St. around 1:45 p.m. Monday, police sources said.

“He went online and hooked up with some guy and, whatever they were doing,” he died, a police source said.

Webmaster's Commentary: 

Oops!

Jun 20 15:23

Amazon’s acquisition of Whole Foods creates a dangerous monopoly

One of the big questions on everyone’s minds following the recent acquisition of Whole Foods Market by Amazon.com CEO Jeff Bezos is what will become of the natural and organic grocer moving forward? The prospect of Whole Foods becoming more like Bezos’ other ventures is an ominous one for many people, especially because it affects something that’s very near and dear to all of us: Clean, chemical-free food.

Jun 20 14:52

24% of Americans don’t have single dollar saved for emergency…

You can take this to the bank: Americans are messed up about money. A slew of new surveys and data have come out revealing that we don’t save enough, we spend money we don’t have, we have our financial priorities backwards — and more. Here are five new stats that prove Americans are backwards about money.

Jun 20 14:42

Small-Cap Investors Have Never Been So Complacent

Volatility expectations in the small-cap space just hit their lowest level on record.

Jun 20 14:10

The Most Hated Bull Market in History

This has been the MOST HATED BULL MARKET in history. What is fascinating is how long this current bull market has been in play yet all we hear is how it is going to collapse like 1929 and fall to dust on the floor. I have been asked for interviews because they have been unable to find someone bullish.

Jun 20 12:26

Peter Hug–Something’s Going To Give In The PM Markets

We spoke with Peter Hug, Kitco’s Director of Global Trading. Metals have been stuck in a sideways channel for quite a while. Just when it looked like gold would break through the $1300 per ounce mark, the market turned.

Jun 20 11:36

Oil It Very Critical Level Here...

Jun 20 11:28

Mass Incarceration, Prison Labor in the United States

The Federal Prison Industries (FPI) under the brand UNICORE operates approximately 52 factories (prisons) across the United States. Prisoners manufacture or assemble a number of products for the US military, homeland security,and federal agencies according to the UNICORE/FPI website. They produce furniture, clothing and circuit boards in addition to providing computer aided design services and call center support for private companies.

UNICORE/FPI makes its pitch for employing call center support personnel to firms thinking about off-shoring their call center functions. The logic is that, hey!, they may be prisoners, but it’s keeping the jobs in the USA that matters. Fair enough. That approach cuts out the middleman though, those Americans desperate for any kind of work but, through no fault of their own, are not behind prison bars and employable by UNICORE/FPI.

Webmaster's Commentary: 

The private, for profit prisons are great as money generators for their owners, but lousy on any real rehabilitation which will prevent prisoners from reoffending.

The huge recidivism rate, among American prisoners released, is a grim testament to that reality.

Jun 20 10:58

Suicide Over European Banking Crisis

The European “bail-in” rules have been cheered claiming taxpayer money will be spared.

Jun 20 09:25

Xi: BRICS cooperation will usher in new 'golden decade'

Chinese President Xi Jinping said Monday that BRICS cooperation would be more productive and usher in a new "golden decade."

Xi made the remarks when meeting with the heads of delegations from Brazil, Russia, India and South Africa, who are in Beijing to attend the BRICS foreign ministers' meeting.

Chinese Foreign Minister Wang Yi chaired the meeting, which also included Russian Foreign Minister Sergey Lavrov, Brazilian Foreign Minister Aloysio Nunes, South African Minister of International Relations and Cooperation Maite Nkoana-Mashabane and India's Minister of State for External Affairs Vijay Kumar Singh.

Xi extended congratulations on the success of the meeting and thanked other BRICS members for their support.

He said that BRICS countries faced the common task of safeguarding domestic stability and development, creating a favorable international environment and working to make the international order more just and equitable.

Webmaster's Commentary: 

BRICS is a brilliant concept, and should benefit all members quite nicely, both economically and socially.

Jun 20 09:10

Barclays in the dock – the price of constant revolution

The Serious Fraud Office (SFO) has charged Barclays and four former executives, including former chief executive John Varley, with conspiracy to commit fraud relating to the lender's dealings with Qatar during its £11.8bn ($14.9bn) fundraising during the financial crisis.

Jun 20 08:49

Stunning Footage Of American’s Crumbling Infrastructure

It’s no secret that America’s infrastructure is in dire need of repairs.

Jun 20 08:34

Why Bankruptcy is Not a Magic Wand for Illinois

What if everyone declared bankruptcy, would that solve all financial woes? Or rather, would it be the ultimate debt bubble burst? Bankruptcy is a “solution” that would become disastrous if everyone were to use it. So can it truly be considered a solution at all? It just shifts the financial burden to someone else.

Most people just don’t care though, because usually, it is the big bad credit card companies or debt collectors who seem to be getting screwed. People with mountains of debt are told that they were preyed on by lending companies.

Jun 20 08:34

Déjà Vu: Shale To Kill Oil Prices Once Again

The U.S. shale industry is in danger of killing of the very rally that it had hoped to take advantage of.

Jun 20 08:11

WE'RE #1 !

US Healthcare: Consumes 80% of World's Opioid Prescriptions

(*And if The Experts Would Kindly Explain How That DOES NOT Trace Back To Former Republican President George W Bush' Illegal Premptive Invasion Of The Nation Of Afghanistan , And How A Good Patriot Would Never Seek Indictments Against Members Of That Administration's War Crimes , And Their Elongigated After Effects , It Would Be Appreciated )

Jun 20 07:47

Iowa Obamacare Insurer Hiking Rates 43.5 Percent

Minnesota-based Medica, one of the few remaining insurance providers on the Iowa Obamacare exchanges, announced Monday afternoon that it will offer plans on the state exchanges in 2018, but proposed an average premium increase of 43.5 percent.

Jun 20 07:34

Amazon may replace cashiers at Whole Foods with a new automated payment system to slash costs in an effort make the high-end grocery chain more accessible

Amazon is looking to reduce costs at Whole Foods with a new automated checkout system that would render thousands of cashiers redundant, it has been reported.

Carmen Clark, 37, an employee at the Mount Pleasant Whole Foods, said, 'Everybody's been kind of joking that it's going to be robots and drones,' after the Amazon bought the grocery chain for $13.7 billion.

It turns out Clark wasn't that far off, since Amazon is trying to reduce prices by replacing cashiers with a new mobile payment system, according to a person familiar with the company's plans who spoke to Bloomberg.

Jun 20 06:41

Is Amazon/Whole Foods This Cycle’s AOL/Time Warner – A Sign That The Party’s Over?

Towards the end of the 1990s tech stock bubble, “new media” – i.e., the Internet — was ascendant and old media like magazines, newspapers and broadcast TV were yesterday’s news. This was reflected in relative stock valuations, which gave Internet pioneer AOL the ability to buy venerable media giant Time Warner for what looked (accurately in retrospect) like an insane amount of money.

Jun 20 04:37

What Is the Market Telling Us?

The entire global economy now depends on this stripped-of-information "market" for its stability.

Jun 19 19:08

The Illusion Of Declining Debt To Income Ratios

In some states, when a couple enters into divorce, the court may award “alimony,” or spousal support, to one of the former spouses for the express purpose of limiting any unfair economic effects by providing a continuing income to the spouse. The purpose is to help that spouse continue the “standard of living” they had during the marriage.

Jun 19 16:36

The stock market will collapse within a year!

Jun 19 16:11

The US Government Clamps Down on Ability of Americans To Purchase Bitcoin

You have to feel sorry for Americans. They are some of the most financially enslaved people in the world.

Jun 19 15:39

‘When I say cut taxes, I don’t mean fiddle with the code. I mean abolish the income tax and the IRS, and replace them with nothing’

The quote in the headline comes from Ron Paul, and it should be the goal of every conservative lawmaker in the entire country.  When professional politicians tell you that they are in favor of reforming the tax code or reducing taxes a little bit, essentially what they are telling you is that they are perfectly fine with the status quo. 

Jun 19 15:36

Democracy Is A Front For Central Bank Rule

Several years ago when the Federal Reserve had its Fed funds rate at zero to 25 basis points (one-quarter of one percent—0.25%), there was a great deal of talk, somehow presented as urgent, whether the Federal Reserve would raise interest rates.

Jun 19 15:20

Amazon to Slash Jobs at Whole Foods, Dump Cashiers, Switch to Cheaper Products in Price War with Wal-Mart

Here’s something Wal-Mart could do to Amazon, just to be nasty.

Jun 19 15:18

A dangerous mess: The UK's housing crisis

In 1915 in Govan, just south of the river Clyde in Glasgow, bands of women torpedoed flour bombs at creeping eviction enforcers from the towering windows of their tenements. Exasperated by increasingly predacious landlords and the rising rate of evictions for those that couldn’t make their rent, and armed with a sound understanding of the sticky power of flour in the UK’s rainiest city, the women organised. A carefully coordinated eight month rent strike followed, and working class women paved the way for the Rent Restrictions Act 1915, Britain’s first form of rent control.

Jun 19 14:02

Dr. Ron Paul: President Donald Trump's Plan to Extend the Debt Bubble

. If Trump gets his way, as much as $2 trillion in funds will be "unlocked" for banks to lend out. Banks were forced to "lock" those funds away after the last financial crisis. Is this how banking is supposed to work? By the dictates of central planners? And what will $2 trillion in loans to an already deeply indebted American public produce?

Jun 19 13:04

Whilst the Fed increases the interest rates, Russia is slashing them again

Not everyone (ourselves included) was convinced the Federal Reserve would increase its interest rates in June, but the FOMC has indeed hiked the benchmark rates by 0.25%. On top of that, it’s now increasingly likely we will also see the Fed starting to reduce the size of its balance sheet although it might take a while before the central bank starts to unload its securities at a more aggressive pace.

Jun 19 12:18

They know: the Eurozone would plunge into a sovereign debt crisis all over again, only worse this time.

These days it’s easy to tell when general elections are approaching in Germany: members of the ruling government begin bewailing, in perfect unison, the ECB’s ultra-loose monetary policy.

Jun 19 11:54

Tough Time for Automakers, Great Time to Buy a Car?

Wolf Richter Talks Shop: “Carmageddon” and tips on buying a car.

Jun 19 11:54

Petrodollar doomed as Qatar breaks ranks and sells its oil in Yuan

The crisis in Qatar marks a major turning point in the battle against the Khazarian mafia. Ostensibly Saudi Arabia and other oil exporting states decided to try to blockade Qatar “because it was supporting terrorism.” In reaction to this move, US President Donald Trump showed the world he was not in charge of the US by first supporting the blockade and then being forced by the Pentagon to change his stance 180 degrees the next day. What is really going on here is that Qatar reached a deal with Iran to export gas from its massive gas fields not West in exchange for worthless Euros or US dollars but rather East to places like India and China in exchange for their currencies.

The US House of Whores, oops! I mean House of Representatives. reacted to this development by passing new sanctions against Russia that basically amounted to telling Europe to buy expensive American gas instead of cheap Russian gas. The Germans and Austrian reacted by telling the Americans to buzz off.

Jun 19 11:10

Are Russia And The Saudis Planning A Natural Gas Cartel?

At the same time, Russia and Saudi continue to give indications of a possible OPEC 2.0 scenario, in which a possible Russian membership is on the table. This would confront the market with a renewed and stronger oil cartel, although the overall strategies need to be adjusted. At the same time, Saudi Arabia, via its oil giant Aramco has openly stated to be interested in global gas investment opportunities, starting in Russia’s Siberian region. While the media still looks at the current discussions as a pure crude oil cooperation strategy, some see another development on the horizon. The real power of OPEC, non-OPEC cooperation would increase if they would not only include a crude oil production cut, but also integrate the other (hidden) cartel, the Gas Exporting Countries Forum (GECF). An OPEC 2.1, including gas exporters, would really block any negative developments in the market, even shale oil and gas.

Webmaster's Commentary: 

This certainly could be a game-changer, economically, for both countries.

Jun 19 10:27

Democracy Is a Front for Central Bank Rule

Inflation aside, in fact interest rates declined, as my sometime co-author Dave Kranzler reports. http://investmentresearchdynamics.com/has-the-fed-actually-raised-rate...
Despite this publicized “rise” of the Fed funds rate, the 10-year interest rate on Treasuries “has declined 30 basis points this year. Thus for certain borrowers, the Fed has effectively lowered the cost of borrowing.”

Kranzler goes on to point out that

“the spread between the 30-day Treasury Bill and the 10-yr Treasury has declined this year from 193 basis points to 125 basis points – a 68 basis point drop in the cost of funding for borrowers who have access to the highly engineered derivative products that enable these borrowers to take advantage of the shape of the yield curve in order to lower their cost of borrowing.”

Jun 19 10:15

Retail Apocalypse Engulfs US Economy — Shutters 23,000 stores, and that’s just the first destructive wave!

You may not see it yet, but the scale of the retail apocalypse is so massive that it is about to engulf the US economy. As when a flood tide has crept around you on all sides while you were standing on a high spot out on the flats, not paying attention, you can look up now and see it all around you, and it is coming in rapidly. You can now feel the current under your toes.

Jun 19 10:10

Senate Bill to Force Citizens to Register Cash Not in a Bank, Violators Get 10 Years in Prison

A new bill seeks to track your money and assets incessantly, will enjoin any business with government ties to act as a de facto arm of DHS, and would steal all of your assets — including Bitcoin and other cryptocurrencies — should you fail to report funds when traveling with over $10,000.

Under the guise of combating money laundering, Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” ramps up regulation of digital currency and other autocratic financial controls in an attempt to ensure none of your assets can escape one of the State’s most nefarious, despised powers: civil asset forfeiture.

Jun 19 09:48

Stunning Footage Of American's Crumbling Infrastructure

It’s no secret that America’s infrastructure is in dire need of repairs. Earlier this year, America received her infrastructure report card from the American Society of Civil Engineers’ and received a repulsive D+. The ASCE guesstimates the US would need to spend $4.5 trillion by 2025 on infrastructure.

Webmaster's Commentary: 

Remember Obama's "You didn't build that?" The idea was that the government made the nation rather than the people.

They did a swell job, didn't they?

Jun 19 09:48

Turkey Wants to Continue Accession Talks With European Union

Turkish Prime Minister Binali Yildirim said that Ankara is willing to pursue the talks with the European Union on getting full membership in the bloc and renew the Customs Union agreement with Brussels.

MOSCOW (Sputnik) — Ankara is willing to pursue the talks with the European Union on getting full membership in the bloc and renew the Customs Union agreement with Brussels, Turkish Prime Minister Binali Yildirim said.

"Turkey is willing to pursue full membership talks with the EU and renew the Customs Trade [deal]," Yildirim said at a joint press conference on Monday with his Bulgarian counterpart Boyko Borisov in Ankara as quoted by the Anadolu news agency.

The Turkish minister stressed that the European Union had to "revise its future vision" and then make relevant decisions on the talks with Ankara.

Webmaster's Commentary: 

The question is, after the failed coup attempt in Turkey,and Erdogan having gone full tilt-buggie dictator over his own people, does the EU really want Turkey as a member?!?

Jun 19 09:25

RADIOACTIVE WASTE FLOWING FREELY INTO COLUMBIA RIVER BECAUSE THERE’S NO MONEY TO STOP IT

A member of the U.S. Environmental Protection Agency recently informed the public that radioactive waste from the decommissioned Hanford nuclear power plant is ‘flowing freely’ into the Columbia river.

The mighty Columbia river is the largest river in the Pacific Northwest region of America, flowing down from Canada, winding through eastern Washington state and along the border between Oregon, ultimately moving through downtown Portland and into the Pacific. The Hanford site, located near Kennewick, WA is up river from a million or so people, not to mention the wildlife.

Constructed in the 1940’s as part of the Manhattan Project, the plant was decommissioned after the Cold War, leaving behind some 53 million gallons of high level radioactive waste. Proposed as a Superfund site in 1988, Hanford is an uncontrollable ecological and public health disaster.

As noted in the list of national Superfund sites:

Webmaster's Commentary: 

The poisoning of this nation goes on unabated, and no one in DC seems to give a damn!

I have to wonder what the cancer rates are in the areas affected, but I believe some cancer clusters have been classified, due to the sensitive nature of what polluters were creating to fulfill defense contracts.

Where the hell is Erin Brokovich when you really, really need her?!?

Because right now, for people in the Pacific Northwest, they need her like crazy!!

Jun 19 09:03

Nord Stream 2: Will Germany part from US hegemony?

The unprecedented demarche of the Ministers of Foreign Affairs of Austria and Germany unusually harshly criticized the draft law on new anti-Russian sanctions. This shows that the relationship between Washington and Brussels has entered a new era, writes Kommersant publication.

Jun 19 09:03

Treasury Secretary Mnuchin Wants to Put a Bigger Blindfold on Consumers

Wall Street’s fingerprints are all over the Treasury recommendations

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA