ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 23 16:11

Goldman: The Last Two Times P/E Multiples Expanded This Much, The Result Was A Historic Crash

"The current P/E expansion cycle is now one of the largest in history. Since September 2011, S&P 500 forward P/E has grown by 75% (from 10x to 18x). This expansion has only been surpassed twice since 1976, when the multiple rose by 111% from 1984-1987 (ending with the 22% Black Monday collapse) and by 115% from 1994-1999 (ending with the Tech Bubble pop)." - Goldman Sachs

Jul 23 08:48

A serious warning nobody is talking about…

Jul 23 08:24

End of a British retail icon as all BHS stores to close within a month - 5000 jobs lost

EVERY BHS store in the country will close within a month leaving 5,000 workers without a job.

Jul 23 08:18

Fund Manager Warns Japanese Launch of Physical Gold Exchange Is Signalling The End Game

Japan announced announced last week that its TOCOM commodity exchange would begin trading physical gold – like the Shanghai Gold Exchange – on July 25th.

The news of this event was largely muted in the western financial media and even the alternative media blogosphere largely seems to have overlooked the news release. But this is a highly significant development because it signals a subtle shift in Japan’s economic and monetary focus from west to east.

It will also create an big upward price-readjustment in gold and silver…

Jul 23 08:14

World's Airlines Crashing At Worst Rate Since 2008

With 'terrorist' incidents breaking out everywhere from San Bernardino to the south of France, it is perhaps no surprise that the world's airlines are struggling. But, as Bloomberg notes, over-capacity, rising fuel costs (so far this year), and weaker demand have hurt profits and crushed airline stocks to their worst year since 2008...

Jul 23 07:59

Will the US use a quick trade deal with Brexit Britain as an EU TTIP trojan horse?

American officials may be looking to sign a quick and easy trade deal with the UK following last month’s Brexit vote in an attempt to breathe life into the stalled TTIP agreement between the US and EU.

US attitudes towards a bilateral agreement with Britain have softened just months after President Barack Obama said Britain would “go to the back of the queue” for trade deals if it voted for Brexit.

US Secretary of State John Kerry discussed a bilateral deal with his UK counterpart, Foreign Secretary Boris Johnson, during a visit to London this week.

Jul 23 07:58

SAVAK Terrorism & US Multinationals

Wherever the Four Horsemen (Exxon Mobil, Chevron Texaco, BP Amoco & Royal Dutch/Shell) gallop the CIA is close behind. Iran was no exception. By 1957 the Company, as intelligence insiders know the CIA, created one of its first Frankensteins – the Shah of Iran’s brutal secret police known as SAVAK.

Kermit Roosevelt, the Mossadegh coup-master turned Northrop salesman, admitted in his memoirs that SAVAK was 100% created by the CIA and Mossad, the Israeli intelligence agency that acts as appendage of the CIA. For the next 20 years the CIA and SAVAK were joined at the hip when it came to matters of Persian Gulf security.

Jul 23 07:47

How the Dollar Destroyed the Middle Class

Jul 23 07:02

Britain's economy will be STRONGER after Brexit, business leaders confirm

Senior executives from sectors including banking, property and tourism said Brexit will not mean "doom and gloom" for British business but is an opportunity to stand up and show the rest of the world how strong the country is.

Jul 22 18:57

UK Economy Shrinking At Fastest Rate Since 2009: Survey

The British economy has shrunk at its fastest rate since April 2009 — the peak of the 2007-08 financial crisis – following the vote to leave the European Union (EU), according to a business survey.

Jul 22 17:38

“It Is Really Hard To Argue With Trump About This”: Face It, America Is In Decline

America is in decline. There are some that still attempt to deny this, but the reason why Donald Trump’s campaign slogan has so strongly resonated with the American people is because deep inside most of us realize that America is not as great as it used to be. Our economy is a mess, we are 19 trillion dollars in debt, our infrastructure is crumbling, crime is on the rise, moral decay is all around us, other countries don’t respect us as much anymore, and our nation is the most divided that it has been in decades. Anyone that believes that America is better than it has ever been in 2016 is either completely delusional or simply has not been paying attention.

Jul 22 16:21

19.4 Trillion Dollars In Debt – We Have Added 1.1 Trillion Dollars A Year To The National Debt Under Obama

We have added an average of 1.1 trillion dollars a year to the national debt under Obama, and we still have about six more months to go. Unfortunately, this Ponzi scheme cannot go on forever and a day of reckoning is coming. And when it arrives, the pain that it is going to cause for ordinary Americans is going to be far greater than most of us would dare to imagine.

Jul 22 16:14

America Needs a Good, Old-Fashioned Economic Depression

The central bankers’ ability to defy economic gravity may, at long last, be coming to an end. Even the radical Keynesian, Richard Koo has recognized the outrage of NIRP, which he recently described as “an act of desperation born out of despair over the inability of quantitative easing and inflation targeting to produce the desired results… the failure of monetary easing symbolizes crisis in macroeconomics."

Jul 22 15:37

More Clinton scandals: Decades Of Money Laundering By HSBC Ignored By Holder At DOJ

Bill Black says the Republicans could embarrass Barack Obama, Hillary Clinton, and Loretta Lynch by demanding further investigation.

Jul 22 14:48

Keiser Report: Crisis Of Capitalism (Summer Solutions Series E942)

In this special episode of the 2016 Summer Solutions series of the Keiser Report, Max and Stacy talk to Dmitry Orlov, author of The Collapse Gap.

Jul 22 11:47

UK Economy Must Suffer Over ‘Mad’ Brexit Decision, Insists EU Divorce Clause Author

Only significant economic damage from its ‘mad’ decision to leave the EU might force Britain to change its mind, the author of the Article 50 divorce clause said. The former Italian PM added that the “safety valve” was never really intended to be used.

Jul 22 11:34

Middle Class Scam Hits 9-Year High In June

Jul 22 10:53

Global Trade Meets Ugly Reality

Jul 22 10:49

Trumped - A Nation On The Brink Of Ruin... And How To Bring It Back

America’s faltering economy has been made in Washington DC, not at the illegal crossing routes on the Arizona border or the containership berths at Long Beach. For more than three decades the nation’s central banks have flooded the US and world economies with too much free money and Washington politicians have accommodated the beltway lobbyists and racketeers and the country’s huge entitlement constituencies with too much free boot.

So the real disease is bad money and towering debts. The actual culprits are the Wall Street/Washington policy elites who have embraced statist solutions which aggrandize their own power and wealth.

That much, at least, Donald Trump has right. Throwing-out the careerists, pettifoggers, hypocrites, ideologues, racketeers, power-seekers and snobs who have brought about the current ruin is at least a start in the right direction.

Jul 22 10:30

Migrant crisis to cost Merkel's government over a TRILLION pounds

Money well spent?

Jul 22 10:28

Bob Parker: Italian Banks Need a Bailout

Jul 22 09:34

Bix Weir Warns Economic Collapse Coming Before Election: “August, September Time-Frame”

Crisis may be coming, and soon.

Who can say if such a bold prediction holds any weight. Maybe it is true that no man knows the hour when true crisis will come.

But it is all building to a dark crescendo, and there are many who see the front coming in, and those who can feel it in their veins.

And history loves the early fall for a crisis.

Jul 22 08:07

Donald Trump attacks 'border-crossers' and vows prosperity during acceptance speech

Trump bashes Clinton, vows to beat the Isis 'barbarians' and promises to make the US safe on the day he's elected.

Webmaster's Commentary: 

For Trump to do that, the American people not only have to vote Trump a too-big-to-rig landslide, but also vote in a Congress that will work with him. That means pink-slipping all those Israel-firsters, Wall Street lovers, and war hawks this November.

Jul 22 08:04

Warner Music Group Settles Lawsuit Over Unpaid Interns

Unpaid internships are ubiquitous in the entertainment industry. In fact, they almost seem to be a prerequisite to landing a paid position. Companies market their internship programs by promising experience, exposure and a glimmer of hope that it will lead to a paid gig. Because after all, isn’t that how you get your metaphorical foot in the door? That might not be the case anymore as unpaid internship may soon become a thing of the past.

This past week, Warner Music Group settled a lawsuit that has the potential to change the structure of internship programs as we know it. Two former interns, Kyle Grant and Justin Henry, filed lawsuits against the music giant for Labor violations. Kyle Grant interned for Warner Brothers Records between August 2012 and April 2013, and Justin Henry interned for Atlantic Records between October 2007 and May 2008.

Jul 22 07:24

Is Gold Set To Hit $1,500 Per Ounce?

Rising macroeconomic risks, low real interest rates, and a decline in the dollar versus emerging market currencies are major price catalysts for gold.

Since hitting its high of over $1,900 an ounce in 2011 after a 12 year bull run, gold fell steadily until 2015 when it reached a low near $1,000. However, this year alone we have seen a 25% increase in the yellow metal. It hit a high of $1,370 pre-Brexit and while this new bull run seems to be currently taking a breather, many analysts feel that there is still plenty of steam left in this rally.

Jul 22 06:48

German firms want an over €2bn stake in Russian high-speed railway

A consortium of major German companies has offered an over €2 billion investment in the Moscow-Kazan high-speed railway, Kommersant daily reported citing its sources.

Jul 22 06:48

Dead in the Water: German Consumer Champion Kills Transatlantic Trade Deal

The prospect of the controversial TTIP trade deal becoming European law has been greatly diminished thanks to the efforts of veteran German consumer champion Thilo Bode.

Jul 22 06:18

SHOCK CLAIM: 2016 Real Estate Bubble Alert

Jul 21 18:50

Unemployed? Try WWOOFing!

Do you find yourself unemployed? Are you unhappy with the paltry wage that you’re being paid? Do you want a change in your life? WWOOFing may be your answer!...

Jul 21 18:33

Draghi Has Lost It Completely

Jul 21 17:49

Apple Watch Sales Tumble 55%

Tim Cook's first major, standalone product is a flop. According to the latest IDC data, sales of the Apple Watch plunged by 55%, from 3.6 million a year ago to just 1.6 million in Q2.

Jul 21 17:08

The real message from asset inflation

Jul 21 16:51

Britain’s Budget Deficit To Grow Beyond Expectations

The UK government is faced with a growing budget deficit that is slated to go beyond previous projections, official figures suggest.

Jul 21 16:21

CHART: Oil bulls are in trouble…

Jul 21 15:28

FBI Swoops On HSBC Banker At JFK Airport Over $8mn Fraud Charge

FBI agents arrested a senior HSBC banker minutes before he boarded a flight to London and charged him with conspiracy to defraud a client of the bank to the tune of $8 million (£6 million).

Jul 21 14:59

ALL WARS ARE BANKERS' WARS!

"If my sons did not want wars, there would be none." -- Gutle Schnaper, wife of Mayer Amschel Rothschild and mother of his five sons

Webmaster's Commentary: 

Posted for my caller into today's radio show.

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Jul 21 12:41

The Last Known VCR Maker Stops Production

Jul 21 12:27

Arrested HSBC FX Trader Had Been Cleared In Bank's Own Internal Probe

While Wall Street was shocked yesterday after the announcement that HSBC's global head of cash FX trading, Mark Johnson, was arrested at JFK on charges of frontrunning a Cairn Energy trade of $3.5 billion pounds, perhaps nobody was more surprised than his employer, HSBC. According to Bloomberg, the Johnson was about to move to the U.S. to take
up a broader position in the firm’s trading division. His arrest therefore, came as a shock to HSBC which wanted to promote the arrested trader to head of the bank’s foreign exchange and commodities business for the Americas.

The reason for HSBC's surprised was revealed by the FT earlier, which reported that according to HSBC's own internal "investigation" three years ago into a $3.5bn currency trade that US prosecutors now believe was criminally fraudulent, it found nothing wrong with the transaction.

Jul 21 09:18

Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton’s VP

Sen. Tim Kaine (D-Va.) is on Hillary Clinton’s short list of potential vice presidential nominees. He’s also actively pushing bank deregulation this week as he campaigns for the job.

Kaine signed two letters on Monday urging federal regulators to go easy on banks ? one to help big banks dodge risk management rules, and another to help small banks avoid consumer protection standards.

Webmaster's Commentary: 

The perfect VP for Shrillery!

Jul 21 08:57

Federal Debt Tops $19,400,000,000,000

The federal debt moved above $19,400,000,000,000 for the first time as of the close of business on Tuesday, according to the data released today by the U.S. Treasury.

Webmaster's Commentary: 

That works out to about $65,000 for every living American .... plus accruing interest!

Jul 21 08:48

The Thinnest New High In Stock Market History

Jul 21 08:45

European Central Bank 'running out of tools' to deal with crises across EU

THE Head of the Europe's central bank is running out of tools to deal with the bloc's economic woes, an expert warned ahead of an appearance by Mario Draghi later today.

Jul 21 08:25

NASA's Kennedy Space Center firm to lay off almost 300 workers

Security services company Chenega Security & Support Solutions, LLC will lay off 272 employees between Sept. 26-30.

The Chantilly, Va.-based company filed a Worker Adjustment and Retraining Notification with Florida's Department of Economic Opportunity on July 18. Chenega's Florida facility specializes in protective services for NASA and has a location at the Kennedy Space Center.

Jul 21 08:09

US Investors prepare to indict the Icelandic state

US Investment managers, Eaton Vance and Autonomy Capital, are preparing to have the Icelandic state prosecuted because of their investments. The two funds purchased Icelandic government bonds in the aftermath of the financial crises in 2008, Viðskiptablaðið reports.

According to Eaton Vance and Autonomy Capital the Icelandic state must be all but bankrupt since it they’re not willing reimburse investors according to marked value. They believe that the Icelandic state has violated them with the latest law bill passed in parliament in respond to the panama paper leak this spring. Their claim is that the government and the Icelandic central bank violated them and other investors with their bill of law. The bill in question gave an ultimatum of offshore fund holders and companies, they were either to accept the value set by the central bank of Iceland or take their place in the back of the line and wait for the currency restrictions to be lifted.

Webmaster's Commentary: 

This is "lawfare" against Iceland for daring to prosecute crooked bankers!

Jul 21 07:57

Credit Suisse warns that stocks are too high

Jul 21 07:46

Suspension of work with Russia increases risks for EBRD

Suspension of the European Bank for Reconstruction and Development (EBRD) work with Russian projects increases risks and causes real financial losses for the bank, Director of the Department for International Financial Relations of the Finance Ministry Andrey Bokarev told journalists on Thursday. "These are not just loud political statements. In this particular case, due to suspension of work on the Russian projects, the bank is actually suffering losses and creates additional risks for itself," he said. "The EBRD might use a more flexible pattern. For example, they do not finance projects and companies with government participation but ready to work in the private sector. If we manage to break the deadlock at least in this regard, this may be viewed as a major positive step".

Jul 21 07:36

London Bankers Plot Bailout Under New Prime Minister: “Monetary Response To Brexit Shock”

It seems that it is payday for the banksters.

As a new bailout is being prepared by the Bank of England, there are questions about what, if any, actions will actually be taken to leave the European Union under the new prime minister, who actually campaigned for ‘Remain’ but has so far appointed pro-Brexit cabinet members.

Jul 21 07:36

Engineered ‘Civil Unrest’ in the UK Planned for This Summer?

All the signs are that something serious might be brewing in the UK this summer. The big question is: is it a genuine grassroots uprising, or is this being engineered by design?

Jul 21 07:33

VIDEO - “Too Big to Jail”: The Revolving Doors-- From HSBC to the Clintons

From HSBC to the Clintons The Revolving Doors between governments and corporations go way beyond conflicts of interest.

Jul 21 06:59

Brexit Fallout: Ireland’s Kenny Raises Prospect of Irish Reunification Vote

Irish Prime Minister Enda Kenny has raised the prospect of a referendum on Irish reunification as the fallout from the UK's decision to vote in favor of leaving the EU continues.

Jul 21 06:26

More High End Real Estate Down Big

Jul 20 20:46

Silver is the best performing commodity of 2016

Jul 20 17:56

Ireland to Prosecute Top Banker Who Destroyed Their Economy — Guess Where He Was Hiding

Shocking! … Former Irish Bank leader, David Drumm, has been extradited from the U.S. and brought in front of a Dublin District Court Magistrate to face charges for his part in the 2008 financial crisis felt round the world.

The former chief executive of Irish Anglo Bank was found in Boston in late 2015 and arrested.

Jul 20 16:07

Bank of England Urge Central Banks to Create Their Own Digital Currencies

In a research paper published on Monday, John Barrdear and Michael Kumhof, economists at the Bank of England, call for central banks to issue their own digital currencies, along the line of Bitcoin

Jul 20 13:21

Another Bad Month For Truck Shipping

Jul 20 12:54

Macy’s Teams Up With IBM To Eliminate Employees

Webmaster addition: Well, I am not shopping at Macy's any more!

Jul 20 12:52

HSBC Bankers Are First Individuals Charged in U.S. Currency Case

Federal agents surprised an HSBC Holdings Plc executive as he prepared to fly out of New York’s Kennedy airport around 7:30 p.m. Tuesday, arresting him for an alleged front-running scheme involving a $3.5 billion currency transaction in 2011.

Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, was held in a Brooklyn jail overnight and will appear in court Wednesday, according to prosecutors. The U.S. unsealed a complaint against him and Stuart Scott, the bank’s former head of currency trading in Europe, making them the first individuals to be charged in the long-running probe.

Webmaster's Commentary: 

This could open up a real can of worms for Lynch and Comey!

Jul 20 12:50

U.S. Maps 1MDB Fraud Trail From Kuala Lumpur to Hollywood

More than $3.5 billion traveled a trail of fraud from Malaysia through a web of shell companies, fueling a spending binge on Monet paintings and luxury real estate in the U.S. and Britain, with at least $700 million flowing back into accounts controlled by Malaysia’s prime minister.

Jul 20 12:14

HSBC: Over 87,000 Jobs Cuts And Counting

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