ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 20 18:56

Venezuela launches oil cryptocurrency

Venezuela has launched a cryptocurrency in an attempt to bypass tough economic sanctions imposed by the US government.

The "Petro" is intended to bolster the country's crumbling economy, which has been suffering from hyperinflation and devaluation for years.

Venezuela claims it is the world's first sovereign cryptocurrency.

Critics say the move is a desperate attempt by Caracas to raise cash at a time when Venezuela lacks the ability to repay its $150bn of foreign debt.

Feb 20 18:52

Billionaire Richard Branson: A.I. is going to eliminate jobs and free cash handouts will be necessary

Billionaire serial entrepreneur Richard Branson says cash handouts will eventually be required to keep people from becoming homeless in the US.

"I think with the coming on of AI and other things there is certainly a danger of income inequality," Branson tells CNN's Christine Romans in a piece published Thursday.

The inequality will be caused by "the amount of jobs [artificial intelligence] is going to take away and so on," Branson says. "There is no question" technology will eliminate jobs, he says.

Feb 20 16:01

5 Big Drivers of Higher Inflation Rates Ahead

Feb 20 15:59

Who Really Controls the World?

Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organised, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it. – Woodrow Wilson, 28th President of the United States (1856-1924)

So you see, my dear Coningsby, that the world is governed by very different personages from what is imagined by those who are not behind the scenes. – Benjamin Disraeli, British Prime Minister (1804-1881)

Feb 20 12:28

Prepping: Billionaires Brace For The Apocalypse And New World Order - Mac Slavo

In the event that the entire economy collapses and food and become scarce, billionaires are looking for high-end places to hold out and await the new world order. Many billionaires are now preparing for the apocalypse, and their survival plans don’t include anyone outside the global elites.

Peter Thiel, the billionaire behind PayPal, is among those tech giants who see New Zealand as a good place to go in the event of an apocalypse. New Zealand is seen as a particularly safe place for billionaires in the event of an apocalypse. In fact, Thiel has bought a $13.5 million 193-hectare section on the shores of Lake Wanaka, although the only building there at the moment is a barn (that can be seen).

Webmaster's Commentary: 

At this point, people need to understand that more wars, a market crash, are potentially coming.

And one doesn't have to be a zillionaire to understand the importance of prepping, no matter what the emergency will be.

The world may well not be headed toward an apocalypse, but it looks like there will be some rough things may coming our way.

I know that I sound like a chipped CD, but please; make preparations to have
extra water, food, prescriptions, and a plan to follow should something awful be headed your way.

Find a mode of self-protection with which you, and your family, feel comfortable.

Find like-minded people in your community with whom you can barter, and who will add to the cohesiveness of whatever intentional family you are with.

All of this needs to be done, and right now.

Make sure, if you have kids in school, that you know what the school's policy on letting kids get picked up by their parents, even if it is not the end of the school day.

Feb 20 12:17

This Is Where The Next US Debt Crisis Is Hiding

As the Federal Reserve reported most recently two weeks ago, US consumer non-mortgage debt has never been higher: as of December 31, 2017, US households have a record $1.0 trillion of credit card/revolving loans, a record $1.3 trillion of auto loans and a record $1.5 trillion of student loans.

Among these, credit card and auto loans in particular have been experiencing accelerating delinquencies. As a result, finance companies/banks have been increasing bad debt provisioning to build balance sheet reserves due to expectations of rising defaults. The chart below illustrates the highest reported net charge off rates (NCOs) in years.

Webmaster's Commentary: 

Those are some scary numbers, all right.

IF you possibly can, try to get your debt under control, and get your credit cards paid down as quickly as is reasonable.

To protect themselves financially, large banks and credit companies are most probably jack up interests rates intensely as a survival mechanism as a response to all the the defaulting creditors.

Feb 20 12:11

War Preparation: Romania Orders $1 Billion Of U.S. HIMARS Missile Launchers

Romania’s commitment to increase its defense budget to the North Atlantic Treaty Organization (NATO) target of 2 percent of GDP has spurred the government to approve a $1 billion purchase of American-made M142 HIMARS (High Mobility Artillery Rocket System).

Webmaster's Commentary: 

Against what other country is Romania planning to use these weapons?!?

Possibly in a US government/NATO jinned up war against Russia?!?

Because at the end of the day, folks, that is at least one of the wonderful, wacky little wars NATO and the US government have been concocting.

From last year, we have the following article by Paul Craig Roberts, talking about a very serious geopolitical "trajectory" moving forward in order to stop the ascent of the ruble and the yuan:

Washington Plans to Nuke Russia & China

Notice the uptick, in US "faux news", of the demonization of Russia?!?

Notice that this Russia demonization is coupled with both US and European sanctions against it?!?

These acts, when avaluated together, are most probably a very ugly prelude to an even uglier war.

Again, this appears to be a question of timing, and what NATO and the US government think they can use to "sell" the war to US and European citizens.

Feb 20 11:45

Charles Hugh Smith: ‘ALL Currencies Will See A CATASTROPHIC DROP’ In The Economic Collapse

Financial writer Charles Hugh Smith recently sat down for an interview in which he boldly declared that ALL currencies – not just the United States dollar -will see a catastrophic drop during the coming economic collapse. It’s not just the dollar, but every currency backed by government force will fall.

Feb 20 11:44

US Commerce Dept recommends steep curbs on steel, aluminium imports

The US Commerce Department has recommended that President Donald Trump impose steep curbs on steel and aluminium imports from China and other countries ranging from global and country-specific tariffs to broad import quotas, according to proposals released on Friday.

China’s Commerce Ministry responded by saying the report was “baseless” and did not accord with the facts, and that China would take necessary steps to protects its interests if the final decision affects China.

The long-awaited unveiling of Commerce’s “Section 232” national security reviews of the two industries contained global tariff options of at least 24% on all steel products from all countries, and at least 7.7% on all aluminium products from all countries.

Trump authorised the probes under a 1962 trade law that has not been invoked since 2001. He has until April 11 to announce his decision on steel import curbs and by April 20 to decide on aluminium restrictions.

Feb 20 11:32

Portland ‘overwhelmed’ with abandoned RVs

Webmaster's Commentary: 

I'll take one! :)

Feb 20 10:51

Trump’s Lawyers Protect Obama’s Claim of Power to Import Limitless Foreign Graduates for U.S. Employers

President Donald Trump’s lawyers are defending President Barack Obama’s claim that every administration can displace U.S. professionals by granting work permits to an unlimited number of foreign white-collar workers.
Obama’s claim of unlimited outsourcing power creates multiple headaches for Trump’s Attorney General Jeff Sessions as he tries to shut down the 2012 ‘DACA’ program which also provided work-permits to the 800,000 illegals who were also granted “prosecutorial discretion” to stay in the United States.

The legal problem will be showcased February 20 when lawyers will ask a panel of three D.C. judges to shutter the fast-growing “Optional Practical Training” program which provides work permits to at least 300,000 foreign graduates of American colleges each year — and also allows U.S. companies to pocket their OPT employees’ Social Security and Medicaid taxes.

Feb 20 10:44

Are Central Bankers Foreshadowing The Next Economic Crisis

Toys R Us is facing collapse, the have a huge tax bill to pay and there are 3200 jobs on the line. Deutsche Bank is laying off 500 people right after bonuses.

Feb 20 10:32

INSTABILITY MOUNTS IN PUERTO RICO AMID PRIVATIZATION EFFORTS AND POWER AUTHORITY'S CASH SHORTFALL

As nearly 250,000 Puerto Ricans remain without power five months after Hurricane Maria struck the island territory—the longest blackout in U.S. history—the Puerto Rico Electric Power Authority (PREPA) said Sunday it will reduce its operating reserve to save money, as the island's government moves toward privatizing the authority.

A federal judge denied PREPA a $1 billion loan over the weekend, saying the authority could not prove it needed the additional cash injection. The company will now reduce its reserve by 450 megawatts, saving $9 million per month but likely resulting in more power outages.

The additional instability comes as many residents are waiting for service to be restored, only to be told, according to San Juan Mayor Carmen Yulin Cruz, that repair work has been subcontracted out to companies that have yet to arrive.

Webmaster's Commentary: 

Mr. President, a word please; this lack of action on the critical needs of Puerto Rico's infrastructure, coupled with the privatisation of their electrical grid, appears to intelligent people as vulture capitalism, at its horrific worst.

This is a really embarrassing moment for you and your admninistration; and this ridicuous delay is causing the following to happen:

Florida Communities Scramble to help Displaced Puerto Ricans

Residents of Puerto Rico do not get to vote in Federal elections; but with the exodous of Puerto Ricans to the US, what happens when many of them become citizens of the US, and have the right to vote?!?

Mr. President, I can assure you that those exiles from their homeland, when they become citizens, are going to remember how they were treated,and in essence, blackmailed, into accepting the privatization of their energy grid over which they had utterly no control, and will vote accordingly in the midterms.

Many of these people have settled in Florida, and will be voting for any, and all Democrats, in the next election.

Feb 20 10:31

EU ignites Trump WAR: Brussels slaps trade sanctions on Harleys and Jack Daniels

BRUSSELS is gearing up for a bitter trade war with US and has pledged to fight fire with fire if Washington carries out its threat to introduce import barriers to steel and aluminium products from Europe.

Feb 20 10:20

Wal-Mart Tumbles After Missing Earnings, Guidance Disappoints, Online Sales Slow

Walmart reported Q4 non-GAAP EPS of $1.33 (GAAP $0.73), missing consensus est. of $1.37 if more than $1.22 a year ago, largely thanks to the company's plunging tax rate (Q4 at 21.6%, down 9.2%) on revenue of $136.3BN, also above the est. of $134.83BN, and up 4.1% from the $130.9BN a year earlier (the number includes $1.12BN from membership and other income, down 5.8% y/y). For the full fiscal year 2018, total revenue was $500.3 billion, an increase of $14.5 billion, or 3.0%.

Feb 20 08:59

It's time for America to embrace guaranteed income

Futurists love to debate when our economy will be thrown into turmoil by self-driving cars and robots taking our jobs. But when it comes to economic disruption, the future is already here.

Feb 20 08:19

iPhone X 'slump' is real, whisper supply chain moles

Samsung has provided confirmation that iPhone X sales are way below Apple's estimates for the much-hyped, tenth anniversary special. The miscalculation could end up benefitting Android owners.

News that public demand for the £999 phone was falling short of expectations came over the Christmas holidays, with Bloomberg reporting that what was supposed to be an initial order of 50 million units had been reduced to 30 million.

But Apple may have downgraded demand estimates even further. Nikkei now confirms that Samsung, Apple's OLED panel supplier, is cutting production in response to Apple's lower expectations.

"Samsung Display now plans to manufacture organic light-emitting diode panels for 20 million or fewer iPhones at the South Chungcheong site in the January-March quarter. The initial goal was to supply panels for 45 million to 50 million iPhones," the FT owner's Asian biz news service reports.

Feb 19 15:52

12 and 107 minute videos: false flags are easily proved with overwhelming evidence

*hyperlinks/videos live at source*

False flag: government-orchestrated attack to cause policy that would be impossible without the ‘false’ (and targeted) enemy’s ‘innocent victims.’ The general public can also be targeted for taxes to be laundered for other purposes.
If you’re unfamiliar with false flag attacks, I recommend background here, here, and here. False flags include financial looting of the public to allegedly pay for policies to combat the fake enemies, such as the US Department of War Defense admitting they “lost” $6.5 trillion, and a total between DoD and HUD admitting to have “lost” $21 trillion.

$21 trillion is ~$200,000 per average US household of $50,000 annual income. If your household earned, say, $150,000, then you’ve been looted by a share of ~$600,000.

aplaintruth.info's sharp 12-minute video walks you through recent and historical evidence to demonstrate some of these false flag events:

Feb 19 15:23

Barnes & Noble is killing itself

I’ve been chronicling the slow demise of B&N for years now, watching the company bleed out, drop by drop, until it has become a shell of its former value. B&N was a cultural center in places without cultural centers. It was a stopover on rainy days in New York, Chicago, and Cleveland and it was a place you could go to get your kids’ first books.

That’s mostly over now. On Monday the company laid off 1,800 people. This offered a cost savings of $40 million. But that’s particularly interesting. That means each of those people made an average of $22,000 or so per year and minimum wage workers – hourly folks who are usually hit hardest during post-holiday downturns – would be making $15,000. In fact, what B&N did was fire all full time employees at 781 stores.

Feb 19 13:10

Deutsche Bank To Fire Up To 500 Amid Tumbling Trading Revenues

The drip-drip-drip death spiral of what was once the world's most systemically dangerous bank continues as Bloomberg reports Deutsche Bank has started cutting at least another 250 jobs at its corporate and investment bank units.

These new firings, which could widen to more than 500, according to Bloomberg's sources, comes after bonus payments that Chief Executive Officer John Cryan said were on the “generous” side, helped push the business in the red.

Feb 19 04:48

The Military's 'Readiness' Scam Worked Again

The Pentagon always complains for more money – and politicians always eventually give in.
BY GORDON ADAMS | FEBRUARY 15, 2018, 10:16 AM
US Secretary for Defense James Mattis in Brussels on February 14, 2018. (VIRGINIA MAYO/AFP/Getty Images)
US Secretary for Defense James Mattis in Brussels on February 14, 2018. (VIRGINIA MAYO/AFP/Getty Images)
For the next two years, at least, the American public should be spared the U.S. Defense Department’s wailing about “readiness.” After seven years of teeth-gnashing and garment-rending, the military is finally getting what it wants: more money than ever.

The Donald Trump administration’s defense budget request for fiscal year 2019 is out, less than a week after Congress cut an overall deal on spending levels for 2018 and 2019. Unlike the domestic spending part of the administration’s budget request, the defense numbers aren’t dead on arrival — in fact, the military can count on getting every cent. The congressional deal set new levels for defense, agreeing to $700 billion for national defense in 2018 and $716 billion in 2019. That’s nearly $165 billion more than the military had anticipated prior to this year. The United States is back to defense spending, in constant dollars, that is higher than the peak spending levels under Ronald Reagan. Only in 2010, at the height of the wars in Iraq and Afghanistan, was defense spending higher.

It’s worth thinking about why defense spending is about to explode. It’s not because of some revolutionary change in the global security environment>>>

Feb 18 11:57

Bounce, Now What?

Feb 18 09:54

Indian Investors Licensed for Direct Investment in Iran with Rupee

India's local media reported that the move taken by the Indian government can boom economic ties between the two countries outstandingly, because, Iran will attract more investment from India in this respect.

They reiterated that the Indian government has issued direct investment’s license with rupee in Iran.

>>>

Feb 18 09:32

Retail Apocalypse Accelerates: 200 Winn-Dixie Stores To Close As Parent Goes Bankrupt

After shutting down more than 5,000 stores in 2017, store-closings are accelerating in 2018 with news that Bi-Lo LLC, the supermarket company that owns the Winn-Dixie chain, is preparing for a potential bankruptcy filing as soon as next month, and is planning to shut almost 200 stores as part of the move - either before or after the filing.

Feb 18 09:32

The Worst Threat We Face Is Right Here At Home

The Federal Reserve is ruining us...

Feb 18 09:20

"There Is An Acute Crisis Coming": Apartment Developer

On Friday, the housing market received a strong bullish jolt from the latest starts and permits data, which however showed that while traditional single-family units barely budged, there was another sharp spike higher in multi-family, i.e. rental unit construction.

Feb 18 09:17

China's launch of 'petro-yuan' in two months sounds death knell for dollar's dominance

One of the world’s top energy importers, China, is set to roll out a yuan-denominated oil contract as early as this year. Analysts call the plan, announced by Beijing in September, a huge move against the dollar's global dominance.

The so-called petro-yuan is a “wake up call” for investors who haven’t paid attention to the Chinese plans, according to the head of Graticule Asset Management Asia Adam Levinson, as quoted by Bloomberg.

Feb 18 08:52

Armenia Aims to Create New Black Sea-Persian Gulf Transit Corridor

Armenia aims to establish a new transit corridor between the Black Sea and the Persian Gulf and currently is engaged in negotiations with a number of countries, expecting to increase the number of project’s stakeholders, country’s President Serzh Sargsyan said.

“We have been negotiating with all the interested countries with the objective of creating a new transit corridor between the Black Sea and the Persian Gulf. We hope that their successful conclusion will render a list of beneficiaries that will be far more extensive than the countries engaged in the negotiations process,” Sargsyan said in his address at the Munich Security Conference (MSC), as quoted in the presidential press service’s statement.

Feb 18 08:51

Latvian Central Bank Governor Detained in Corruption Probe

Ilmars Rimsevics, the governor of Latvia’s Central Bank, is currently held at the Corruption Prevention and Combatting Bureau of Latvia (KNAB), where he has already spent seven hours, amid the ongoing investigation into allegations of corruption, Sputnik correspondent reported on Sunday.

Rimsevics arrived at KNAB’s office around 18:00 local time on Saturday (16:00 GMT) and has been held at the office for over eight hours since then.

On Friday, the Latvian authorities searched Rimsevics’s office and home, while the governor’s alleged accomplice, businessman Maris Martinsons, was arrested.

Feb 18 08:44

Gibson guitar company, maker of the Les Paul, facing bankruptcy after 116 years in business

Gibson guitar company, which has been a staple brand among various musical instruments since 1902, is facing bankruptcy.

According to the Nashville Post, Gibson’s chief financial officer, Bill Lawrence, left after six months on the job and just as $375 million in senior secured notes mature and $145 million in bank loans become due, if they aren’t refinanced by July

The departure of Lawrence was seen as a bad sign for a company trying to re-organize.

Feb 18 08:38

EMPLOYEES: Jeff Bezos Is Ruining Whole Food's Quality

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