ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Feb 18 01:29

GOP lawmaker slams California pension fund defense of Chinese ties as 'oblivious'

A Republican lawmaker slammed the response of California's state pension fund as "deeply oblivious," two days after he called for the firing of its chief investment officer over accusations that the fund invested in Chinese companies blacklisted by the U.S. government.

"This is a deeply oblivious and ignorant response," Rep. Jim Banks told "Mornings with Maria" Friday. "What we know is that CalPERS, the largest state pension fund in America, invests in almost 300 Chinese companies."

In a Wednesday letter addressed to California Gov. Gavin Newsom, Banks alleged California Public Employees' Retirement System (CalPERS) invested in numerous blacklisted Chinese companies that manufacture military products and urged the state to investigate its CIO, Yu Ben Meng.

Webmaster's Commentary: 

The only reasonable answer I can think of, is that when Calpers originally invested in these companies, they were not blacklisted, and were actually making money for the California State Pension fund.

But SOMEONE in their business units, should have had the horse-sense, once these companies were blacklisted, to pull Calpers money out of these deals and invest elsewhere; that this did not happen, appears to be very concerning indeed/\.

Feb 17 22:29

Corona Virus Part II

A little over two weeks ago, I wrote to you about the corona virus (COVID-19) epidemic in a blog post titled, ‘Corona Virus: What to Do.’ In that post, I suggested that corona virus, like most flu-like viruses, can be effectively managed with a holistic approach of eating a diet free of refined sugar, taking vitamins and minerals—particularly vitamins A, C, and D as well as iodine, and avoiding the flu shot.

Feb 17 09:47

MORE PROOF TRUMP IS THE "CONTROLLED OPPOSITION" AFTER ALL

During the election it was unclear if Donald Trump was a puppet of the elites. He could have simply been a convenient scapegoat. Today, it is obvious that he is indeed controlled opposition.

As I've noted in numerous articles, Trump's associations with the globalists go way back. He was saved from crippling debts in multiple properties in Atlantic City during the 1990s by the Rothschilds. The Rothschild banking agent that handled Trump's bailout was none other than Wilber Ross, the senior managing director of Rothschild New York. Ross is now Trump's Commerce Secretary, which indicates that this relationship continues to this day.

Feb 17 09:26

US Firms In China Suffering "Severe Shortages Of Workers," Warn Virus Impact Hitting Supply Chains

The global supply chain Armageddon is happening. The economies of the world are more interconnected than ever. There are many 'single points of failure' in these complex and global operations, of which many of them originate in China.

A new poll via Shanghai's American Chamber of Commerce (AmCham) discovered that 50% of US firms operating in China say shutdowns of factories have impacted their global operations due to the Covid-19 outbreak, reported Reuters.

About 78% of these firms warn that their staffing is currently short at the moment, which would prevent the resumption of full production, leading to massive shortages of products in the next several months for Western markets.

Feb 17 05:10

The Multi-Billion-Dollar Mystery Of The Great British Gold Sale

This is a story about a chart. A pretty astonishing chart.

A chart that has all sorts of consequences, including misleading ministers, distorting our view on the nature of the UK economy and creating a genuine mystery about what's going on in the bowels of the UK economy.

Feb 17 05:09

OUTRAGE AS DOWNING STREET ADVISER BACKS EUGENICS, MANDATORY BIRTH CONTROL AND GIVING KIDS MIND-ALTERING DRUGS

SOURCE: RT
Barely over a government-rocking reshuffle, UK Prime Minister Boris Johnson’s office has moved onto a fresh scandal, hiring an adviser who advocates eugenics, mandatory contraception, and giving children mind-altering drugs.
Andrew Sabisky was one of the hires made by 10 Downing Street after Johnson’s chief adviser Dominic Cummings made a high-profile call to stock the office with “misfits and weirdos”.

The revelations began when the Times uncovered an interview Sabisky gave to Schools Weekly, in which he spoke in favor of giving children a dose of the cognitive-enhancement drug modafinil.Even the controversial Cummings might have got more than he bargained for, as it has emerged that 27-year-old Sabisky once called for a “universal contraception” program to stop the creation of a “permanent underclass,” and also said that the benefits of brain-boosting drugs were “probably worth a dead kid”.

Wrexham Labour Party
@WRX_Labour

Webmaster's Commentary: 

I don't know about you, but I sure as hell would not like to be a part of this "brave new world" this guy would like to see created.

And would that "one dead kid" from exposure to "brain-boosting drugs",ever be his own?!?

Folks, I seriously doubt that this would ever happen.

Feb 17 04:52

"Tankers, Tankers. Everywhere!" - Virus Causes Historic' Traffic Jam' Across Asian Supply Lines

Covid-19's effect on global energy markets has been disastrous. OPEC slashed its oil demand forecast last week, and Goldman Sachs doubled down on its bearish oil take and has cut its oil price target by $10 to $53 for the year, as a result of a "demand shock" that is set to collapse Chinese oil consumption by 20%, or as much as 4 million barrels per day.

The sharp decline in demand in China, which by the way, is the world's largest oil importer, is now stranding oil cargoes off the country's coast and across Asia.

Bloomberg's Stephen Stapczynski records footage of an impressive parking lot of tankers and other vessels off the coast of the anchorages of the port of Singapore, one of the largest freight hubs and busiest ports in the world.

Feb 17 04:23

US Says Latest Sanctions Have Finally Thwarted Russia-Germany NS2 Gas Pipeline

The Trump administrated is claiming to have successfully thwarted the multi-billion dollar Russia-Germany gas pipeline known as Nord Stream 2, after US sanctions in December took direct aim at the European and international companies and their executives assembling the controversial 760-mile long project that would allow Russia to export natural gas directly to Germany.

Bloomberg reports the White House's "top energy official said he’s confident that Russia won’t be able to complete the Nord Stream 2 gas pipeline in the Baltic Sea — and signaled that the U.S. will press forward with its opposition to the project."

Feb 16 21:55

Japan Unexpectedly Reports Terrible GDP As It Slides Into Recession

One look at the latest GDP print out of Japan, and one would think the country's economy was already being ravaged by the coronavirus: at -1.6% Q/Q and a whopping -6.3% annualized - nearly double the 3.8% estimated drop - this was the second worst GDP print since the financial crisis and the second-worst quarter of the Shinzo Abe era, surpassing even the drop in the aftermath of the Fukushima disaster.

Of course, the latest plunge in Japan's GDP has nothing to do with the coronavirus as it took place in Q4, and the drop was largely a byproduct of the sale tax hike, which led to a similar collapse in Q2 2014 GDP, following the first such tax hike.

Feb 16 12:26

Soaring US ‘defense’ budget helped drive world military spending to 10-year high in 2019

Global military expenditures in 2019 saw their largest increase in 10 years, propelled in no small part by skyrocketing US “defense” budgets, which continue to dwarf some of the world’s next largest spenders combined.

Military spending among 170 countries jumped by 4 percent in 2019 compared to the prior year, sending the total to its highest level in a decade, according to an annual assessment released on Friday by the International Institute for Strategic Studies (IISS).

While the new report attributes the soaring pay-outs to an “unstable international security environment,” Washington’s massive $53.4 billion “defense” hike – roughly equal to the UK’s entire military budget – played an outsized role in driving the numbers to their current 10-year record high.

Feb 16 11:16

Market Believes It Has Immunity To Risks

Feb 16 10:48

What to Make of the Bureau of Lying Statistics’ Contradicting Jobs Reports

By David Haggith

Employment has been the one stickler in my recession prediction for 2019, and finding a trustworthy measurement from the government’s statistics is like finding a virgin in a brothel. Depending on which official figures you look at, employment has refused to fall and new jobs are strong … or they stink.

We recently got two extremely conflicting reports from the same government agency that reveal, AGAIN, how dubious the official numbers from the government are...

Feb 16 10:02

The Crisis Will Sink Stocks And Propel Gold

Feb 16 06:52

Avoiding the Car Companies

Feb 16 03:57

Trump's War Budget Slashes Support for Social Security, Medicare, and Medicaid

Feb 15 10:40

New Mars Curiosity Rover Pictures

We follow the Curiosity Rover on Mars as it climbs up a Martian mountain named Mount Sharp. We have selected only the clearest footage from Mars to give you a sense of actually being there alongside Curiosity. All the places that NASA has explored have been given nicknames, which you will see in the video. Some of the images have been 'white balanced' by NASA to give geologists a clearer view of the rocks.

A quick summary of the Journey:

Feb 15 08:48

Duterte’s gambit: Why Americans should thank the hot-headed leader of the Philippines

Written by
Lyle J. Goldstein

With the world’s focus on the spread of the coronavirus pandemic, it’s easy to see how the recent shocking news from Manila might have been missed. During any normal news cycle, however, the announcement by the government of the Philippines that it had served official notice to Washington that it was terminating the Visiting Forces Agreement (VFA), would amount to a geopolitical tsunami. That agreement represents the bedrock of this long-term bilateral alliance, as it provides the legal framework governing all U.S.-Philippines military cooperation. According to one senior U.S. State Department official quoted in a recent New York Times article, that cooperation has “allowed for about 300 joint exercises annually between the American and Philippine militaries,” but those operations are now “at risk.”

Feb 15 07:57

Will The Corona Virus Trigger A Recession?

Feb 15 07:41

The Metal Trump Wants More Than Gold

Global dominance at this point in the game means control of the rare earths elements that form the backbone of existing technology and the future of technology, and while everyone is busy playing at war with oil and gas, Beijing is busy sitting on a monopoly of our most precious strategic metals.

There are 16 metals in total that form the world’s strategically critical rare-earth elements--and China controls the supply of every single one because it controls 96% of production.

One of these crucial metals is Cesium.

It’s worth up to twice the price of gold, ounce for ounce, there are only three producing mines in the world, and all of them are controlled by China.

Feb 15 07:37

THE TEN PLANKS OF THE COMMUNIST MANIFESTO

2-14-20

Karl Marx describes in his communist manifesto, the ten steps necessary to destroy a free enterprise system and replace it with a system of omnipotent government power, so as to effect a communist socialist state. Those ten steps are known as the Ten Planks of The Communist Manifesto… The following brief presents the original ten planks within the Communist Manifesto written by Karl Marx in 1848, along with the American adopted counterpart for each of the planks. From comparison it's clear MOST Americans have by myths, fraud and deception under the color of law by their own politicians in both the Republican and Democratic and parties, been transformed into Communists.

Another thing to remember, Karl Marx in creating the Communist Manifesto designed these planks AS A TEST to determine whether a society has become communist or not. If they are all in effect and in force, then the people ARE practicing communists.

Feb 15 06:18

Crude Oil’s Drop Was Foretold by Gold

Feb 14 14:15

FLASHBACK: Fossils From Animals And Plants Are Not Necessary For Crude Oil And Natural Gas, Swedish Researchers Find

What would happen if it were proven that "fossil fuels" weren't the result of decaying plant and animal matter, were actually created within the Earth due to simple chemistry and you could not be scared into believing that we were "running out" of oil and natural gas?

Estimates of how much crude oil we have extracted from the planet vary wildly. As late as May of 2009 a report published in the International Journal of Oil, Gas and Coal Technology suggested that we may have used more than we think.

Feb 14 13:55

FLASHBACK: Does the Earth re-fuel itself?

by Ciaran Ryan

Every 10-year-old knows that oil comes from the decomposed remains of dinosaurs, a theory first floated by Russian scholar Mikhailo Lomonosov in 1757.
According to this theory, rock oil forms over millions of years from the action of heat and pressure on animal remains buried in sediment. The so-called "fossil fuel" theory remained largely unchallenged for 200 years until Russian academics, led by Nikolai Kudryavtsev, suggested that hydrocarbons (from which oil derives) are generated deep within the Earth from inorganic materials.

The notion that petroleum is abiotic (not related to living organisms) in origin has been accepted as scientific fact in the former Soviet Union for 50 years, yet Western science clings to the contradictory fossil fuel theory.

Feb 14 06:44

Will Google’s Social Credit System Determine Your Future?

Via: Mercola:

Google is the largest monopoly the world has ever seen, and its data-siphoning tentacles reach deep into our everyday lives, collecting data on every move you make and conversation you have, whether online or in the real world.

According to Fast Company, China’s social credit system is not entirely unique. “A parallel system is developing in the United States, in part as the result of Silicon Valley and technology-industry user policies, and in part by surveillance of social media activity by private companies,” Fast Company writes.

Feb 14 05:58

FEDERAL PROSECUTORS RECOMMEND 5-YEAR JAIL TERM FOR CORRUPT FORMER BALTIMORE MAYOR

SOURCE: ZERO HEDGE
Former Baltimore Mayor Catherine Pugh could receive upwards of 5-years in jail for her criminal acts of conspiracy and tax evasion, according to The Baltimore Sun.

"The facts establish that Pugh deliberately engaged in a broad range of criminal acts while serving as Maryland state senator and mayor of Baltimore City," federal persecutors wrote in a sentencing memorandum filed Thursday in U.S. District Court in Baltimore.

In Nov., we noted that Pugh pleaded guilty to four of the 11 charges, including wire fraud, conspiracy to defraud the U.S., and two counts of tax evasion.

The statement from prosecutors includes allegations that Pugh used her position of power to defraud the customers of "Healthy Holly" children’s book series for personal use and also to fund her mayoral campaign.

Webmaster's Commentary: 

Good; compared with what the lady actually did, the 5 year sentence is almost a "slap on the wrist", and most certainly will be served in the cushiest Club Fed that her "Prison Advisor" can find for her.

Oh, and BTW, the Baltimore Public Schools were places where this was allowed to happen:

Can you skip 47 days of class and still graduate? In Maryland's largest school system, the answer is yes

Baltimore public school changing grades so students can graduate, just like Democrats alter votes so Leftists can win elections

These, taken together, are a form of child abuse of the highest order; the point of education, is that the teenager being educated, will graduate nummerate; literate; and imminently capable of true critical thinking.

Unfortunately, in the public schools of Baltimore, none of this was actually happening under Mayor Pugh's watch.

Feb 14 05:54

Airbus crushes Boeing with record jet deliveries

Boeing’s European rival Airbus wants to break its own record and bring aircraft deliveries to a new all-time high in 2020, as the American planemaker continues to struggle with the aftermath of the 737 MAX crisis.

Airbus’s clients received a total of 863 commercial aircraft in 2019, marking a record for the company, according to full-year financial results published on Thursday. While year-on-year deliveries rose around eight percent, the target for 2020 is even more ambitious, as Airbus aims to hand over around 880 jets.

Feb 14 05:51

Food Prices Due to the Little Ice Age

Feb 14 05:46

OUR "COME TO MAO" RECKONING AND THE NEXT CULTURAL REVOLUTION

SOURCE: CHARLES HUGH SMITH
Only fools are blind to the potential for this uprising to extend to Apple and the rest of Corporate America’s greedy exploiters who’ve been delighted to profit from the protection of the CCP.

Let’s start our "Come to Mao" reckoning with the obvious:

To the U.S. stock market:

The coronavirus ravaging China doesn’t matter.

China doesn’t matter.

1,500 deaths don’t matter, 5,000 deaths don’t matter, 50,000 deaths don’t matter, 500,000 deaths don’t matter.

10,000 coronavirus cases don’t matter,100,000 cases don’t matter, 1,000,000 cases don’t matter.

All that matters is that exploited Chinese workers get back to assembling iPhones for Apple and all the landfill economy stuff that generates billions in profits for Amazon and the rest of Corporate America.

Feb 14 05:13

Study: Homeless US Student Population Highest In Over A Decade

A new real estate study showed that the population of homeless students in the United States of America has reached the highest level in over ten years. More than one and a half million public school students said they were homeless during the 2017-18 school year, according to the report from the National Center for Homeless Education.

Feb 13 18:00

Falling Oil Prices An Economic Warning Sign

Feb 13 06:49

Election 2020 Poll: 61% Of Americans Say They're 'Better Off' Under Trump

Gallup's new poll shows 61% of Americans says they're better off today than three years ago

89% of Republicans believe so, but only 29% of Democrats hold the same opinion

52% of respondents saying it's easier for them to "go and buy things in the stores"

Feb 13 06:45

NOT GOOD: FED CHAIRMAN POWELL CONFIRMS FEDERAL RESERVE EXPLORING GOVERNMENT CRYPTOCURRENCY

During testimony today on Capitol Hill, before the Senate Committee on Banking, Housing, and Urban Affairs, Federal Reserve Chairman Jay Powell confirmed that the Federal Reserve was exploring the possibility of creating a government cryptocurrency.
This is not good. Such a cryptocurrency would allow the government to track all monetary transactions. I discuss the dangers of such here: Federal Reserve Board Governor: The Fed is Looking Into Creating Fedcoin.

Remarkably, bitcoin surged past $10,000 on Powell’s comments.

Note to Bitcoin fanboys: If the Fed gets in the game, they are not going to allow other cryptocurrencies such as your bitcoin to hang around and compete.

Feb 13 06:18

TECHNOCRACY: THE DIGITAL PANOPTICON OF THE WORLD ECONOMIC FORUM

BY JACOB NORDANGÅRD
The World Economic Forum is totally supporting all of the UN’s Sustainable Development Goals (SDGs), aka Technocracy. Here is an A to Z analysis of each SDG and what they really mean.Please take time to read through each point, listen to each short video and then share as widely as possible. Also note that this article introduces new TN contributor, Jacob Nordangård, PhD from Sweden. ? TN Editor

A week before World Economic Forum’s 2020 meeting, the report Unlocking Technology for the Global Goals was released by WEF’s Global Future Council Working Group on 4IR for Global Public Goods. The report, written in collaboration with the audit and consulting firm PwC, reviews how the advanced technologies of the Fourth Industrial Revolution (4IR) will contribute to meeting the objectives of the 17 Sustainable Development Goals (SDGs) of the United Nations.

Webmaster's Commentary: 

This is, again, a brave new world, protecting the elites, and the already monied, at the expense of ordinary working people just trying to barely survive; think the brilliant film, "Elysium", and you are quite there.

This is not a world in which I, and probably most of my more intelligent brothers and sisters, will not want to live; and those in power who think they will tether us to technology, to make it impossible to escape, have completely forgotten the power of the human will, when it is focused on survival, and ultimate thriving.

And that... is the monstrously hubristic problem with such a system.

Feb 13 06:08

The Recession Called “Repocalypse”

Feb 13 05:06

China Reports Huge Jump In New Coronavirus Infections And Deaths; Oil, Stocks Tumble

All those clueless hacks who warned us for years not to trust China's economic numbers, yet were so gullible to believe any coronavirus pandemic "data" released by Beijing are going to look pretty stupid right about now.

Hubei just released its latest round of coronavirus outbreak figures, and in a clear confirmation of the 'conspiracy theory' that China had altered the way it was reporting Covid-19 deaths and cases - clearly in order to suggest that things were improving and you should go back to work, while ideally buying stocks, the province at the epicenter of the Coronavirus pandemic just came clean and the numbers are stunning.

Feb 13 05:04

Valuing Venezuela’s Orinoco Oil Belt

The Orinoco Belt: “oil-in-place” is estimated to be up to 1.4 trillion barrels, of which 70% might be extracted using the most advanced technologies.

“Let’s place 1 trillion barrels of oil in context.

Global oil consumption is currently 35 billion barrels a year. Thus, the Orinoco Belt alone could satisfy 100% of global demand for almost 30 years!

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