ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Feb 27 20:47

Travel Related Stocks: Premium Price List

Feb 27 13:59

Corporate Profits to Decline into 2021?

Feb 27 13:16

US must withdraw sanctions so Iran can combat coronavirus: Analyst

The United States Treasury Department on Thursday granted a license to allow for certain humanitarian trade transactions with Iran’s sanctioned central bank, a move it said was in step with the formalization of a Swiss humanitarian aid channel, according to Reuters.

The Treasury said the newly created channel became fully operational on Thursday as it granted the license, saying that it would allow for companies to send food, medicine and other critical supplies to Iran.

Feb 27 10:38

The Age of Treason: 1958 Book Exposes Chemical Attack on Humanity

The book is appropriately subtitled; “Food and Liquids Used as a Medium in Deliberately and Carefully Planned Methods Developed by the Vicious Element of Humanity, for the Mental Deterioration and Moral Debasement of the Mass, as a Means Toward Their Enslavement.”

Dr. Clymer introduces readers with a stark warning for the future, writing, “Imagine yourself if you can, becoming conscious that you are gradually losing your manhood; that your mind is rapidly deteriorating so that you are no longer capable of thinking clearly; unable to plan your future actions. Your resistance is becoming so weakened that you are no longer master of yourself. In short, you are rapidly developing into a moron, a robot, a zombie, readily subject to the dictates of others…”

Feb 27 10:09

Why the Coming Economic Collapse Will NOT be Caused by Corona Virus

With Monday’s 1000 point stock market plunge the internet has been set ablaze with discussion of a new crash looming on the horizon. The fact that such a chain reaction collapse was only kept at bay due to massive liquidity injections by the Federal Reserve’s overnight repo loans should not be ignored. These injections which began in September 2019, have grown to over $100 billion per night… all that to support the largest financial bubble in human history with global derivatives estimated at $1.2 quadrillion (20 times the global GDP!).

Sadly economic illiteracy is so pervasive among today’s modern economists that the real reasons for this crisis have been entirely misdiagnosed with financial experts from CNN, to Forbes blaming the volatility on the spread of the Corona virus!

Feb 27 09:52

The Last Time This Happened Was Days Before The Great Depression

The US equity market is suffering its worst start to a year since 2009...

In the space of just six days, we went from record high to a 'correction' (over 3,000 Dow points and down over 10.5%)...

What is most ominous is the fact that, as NatAlliance Securities reports, "This would be only the second time in history that this has happened. The other? 1928."

Feb 27 09:50

Tesla Burning: Down 30% In Days As Markets Blindsided By Worst Weekly Selloff Since The Financial Crisis

While Tesla longs may have won the last month or two as the stock ripped from $300 to almost $1000 on a massive short squeeze - they are now starting to learn the very important (and very overdue) adage that when the tide goes out, you see who is swimming naked.

Yes, every millennial and annoying family member crowing over the last 2 months at family gatherings and social events about what investing geniuses they are for buying Tesla is now rushing to slam the sell button and get ahead of what is likely to be continued, non-stop selling, as the coronavirus pandemic continues to grind the global economy to a halt and strike the investing public with fear of the many unknowns that still remain.

Tesla is down about 12% today so far and about 30% off its 52 week highs.

Feb 27 09:30

The Economic Cataclysm Ahead

Feb 27 09:25

As Americans Distracted by Trump Tweets, President Quietly Attacks Medical Pot Protections

Drinking a dozen diet cokes a day makes Trump slur his words. Nutrasweet breaks down into wood alcohol and formaldehyde in the brain.THC on the other hand promotes the growth of new nerve cells. Keep swilling your diet coke Donald!

Despite what president Trump says to certain crowds on the campaign trail, his actions in office speak far louder than empty promises on the road. Trump has never openly supported marijuana legalization though he said he had no objection to US states legalizing forms of marijuana. When it came time to act, however, he did the opposite.

According to a recent report from the Sun Sentinel, the Trump Administration has proposed removing medical marijuana protections in the 2021 fiscal budget and leaked audio revealed the President’s belief that smoking weed makes you dumb.

Feb 27 08:29

Dow plunges deeper into correction territory, is now down 800 points

Stocks fell sharply once again on Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings also dragged down the major averages.

The Dow Jones Industrial Average plummeted 800 points, or 2.9%. The S&P 500 slid 2.9% while the Nasdaq Composite dropped 3.3%.

Feb 27 08:25

One Year Into “Soda Tax,” Researchers Find No Impact On Consumption

One year into Philadelphia’s 1.5-cents-per-ounce “soda tax,” new findings show that the law had minimal to no influence on what Philadelphians are drinking. The results were published this month in the International Journal of Environmental Research and Public Health from researchers at Drexel University’s Dornsife School of Public Health...

Feb 27 07:40

Coronavirus wipes out $1.7 trillion in US stock market value in two days

The S&P 500 just wiped out about $1.737 trillion of its value during its two-day market sell-off, according to S&P Dow Jones Indices.

The equity benchmark lost $810 billion in value on Tuesday, adding to its $927 billion loss on Monday, according to the firm’s Senior Index Analyst Howard Silverblatt. It’s down $2.138 trillion since last Wednesday’s high, according to S&P Dow Jones.

Feb 27 07:36

Michelle Malkin: There Is No American Worker Shortage

"We're full, our system's full, our country's full!" That was President Donald Trump last year at our southern border.

"Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families." That was Trump in January 2017 at his inaugural address.

"The influx of foreign workers holds down salaries, keeps unemployment high, and makes it difficult... to earn a middle class wage." That was presidential candidate Trump in 2016.

Feb 27 07:31

Goldman: 3 Key Reasons Why We Are Bullish On Gold

On “Bloomberg Commodities Edge”, Bloomberg’s Alix Steel and Naureen Malik talk with Jeff Currie, global head of commodities research at Goldman Sachs. They discuss Goldman’s bullish stance on gold.

Gold is gaining on mounting speculation China and other central banks will unleash stimulus to counter the economic pain from the coronavirus outbreak, boosting liquidity in the market and devaluing currencies.

UBS are also bullish on gold as a hedge on dollar and geopolitical risk.

Feb 27 07:15

Costco Sells Out Of Emergency Food Kits Online Amidst Coronavirus Outbreak

By Chris Menahan

Costco Wholesale, which is one of America’s biggest suppliers of long-term storable food, sold out of all their “emergency food kits” on their website after the CDC warned that Americans should be prepared in case the coronavirus becomes a pandemic.

Visitors to the “Emergency [Food] Kits & Supplies” section of their website are currently greeted with a message saying, “We’re sorry, no products were found.”

A trip to the local store...

Feb 27 02:28

The Looming Financial Nightmare: So Much for Living the American Dream

The national deficit (the difference between what the government spends and the revenue it takes in) is projected to surpass $1 trillion every year for the next 10 years.

The United States spends more on foreign aid than any other nation ($50 billion in 2017 alone). More than 150 countries around the world receive U.S. taxpayer-funded assistance, with most of the funds going to the Middle East, Africa and Asia.

Meanwhile, almost 60% of Americans are so financially strapped that they don’t have even $500 in savings and nothing whatsoever put away for retirement, and yet they are being forced to pay for government programs that do little to enhance or advance their lives.

Folks, if you haven’t figured it out yet, we’re not living the American dream.

We’re living a financial nightmare.

The U.S. government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones who will pay for it.

Feb 27 02:19

Here’s what Esper’s AFRICOM review has decided so far

Facing skepticism from members of Congress about plans to alter force posture in Africa, Defense Secretary Mark Esper told members of the House Armed Services Committee that he remains committed to keeping U.S. forces on the continent.

“There are no plans to completely withdraw all forces from Africa,” Esper said Wednesday.

As part of a broader review of the force structure for the combatant commands, Esper has been considering moving forces out of U.S. Africa Command’s area of operations. Reports emerged at the end of 2019 that the department was looking at removing several hundred forces from Niger, Chad and Mali.

Webmaster's Commentary: 

Do not expect any major moves in US troops away from Africa; US troops are there to contain China's advance toward controlling the embarrassment of riches which are African natural resources, and the selling of them in any other currency than the US dollar.

Feb 26 22:12

Why I Want To Be Infected With The COVID-19 Coronavirus And You Should Too

I want to be infected so I will develop natural life-long antibodies against this mutated virus that appears to be produced in a laboratory, not mutated in the wild.

Modern vaccines aren’t producing life-long antibodies. Right now, there is no approved vaccine, so you will have to think about how to produce natural antibodies against this dreaded virus.

Feb 26 19:49

Buy now, pay later 'growing fast' amid debt fears

Buy now, pay later services for online shoppers are growing at 39% a year, a report says, despite worries that young consumers are sleepwalking into debt.

Operators such as Klarna and Afterpay allow customers to delay payment or buy through interest-free instalments.

Convenience and the ease to make snap purchases are behind their popularity, according to the report by payment processors Worldpay.

But consumer groups say many young people are ignoring the debt risks.

Feb 26 17:49

Confessions of a Recovering Neocon

I hate to admit it but just a few short years ago I was a Neocon, and I’m not proud of it. Like so many others today I was bewitched by what I thought at the time was patriotism. I genuinely believed that if we could just elect some good, God Fearing Republicans all would be well.

Feb 26 15:13

Microsoft Slides After Cutting Personal Computing Guidance Due To Coronavirus; Intel Dragged Lower

After trying hard to ignore the deadliest global pandemic in decades, and pretending it would have no impact on future sales or demand, US corporations are starting to fall like viral dominoes, with one after another slashing guidance.

The latest to join Apple, MasterCard, United Airlines, Burberry and dozens more in slashing or pulling their forecast altogether, was Microsoft, which shortly after the close said that for the fiscal third quarter, it doesn’t expect to meet its More Personal Computing segment guidance as Windows OEM and Surface are more negatively impacted than previously anticipated by the coronavirus.

Feb 26 12:40

True Affordable Insurance For Everyone

Please join me in signing this petition. We must all send a message that all of us need to be treated more fairly when it comes to being covered and not be left with a monstrous deductible. If nothing is done, more of us will end up being discarded and not even be seen by doctors. Money must be well spent, and not for nothing which is what I feel our case is.

Feb 26 11:37

Shale Decline Inevitable As Oil Prices Crash

Feb 26 09:20

Coronavirus Tailor-Made For a Vaccine?

Very interesting article!

It considers whether the Wuhan Strain of coronavirus (COVID-19) is the result of naturally emergent mutations against the possibility that it may be a bio-engineered strain - directly altered by genetic manipulation, subject to artificially-guided evolutionary selection, or both - meant for immunotherapy protocols that was released into the public, most likely by accident since China's rate of occupational accidents is about ten-times higher than America's, and some twenty-times more than Europe's - the only other regions with high-level virology labs. TARGETS EAST ASIANS?

Feb 26 09:15

Port of LA Cargo Volume down 25%

Feb 26 09:14

US troops arrive in Germany for 'Defender Europe 20' military maneuvers

Looks like the US is getting ready to attack Russia. It wont end well. It will be the end of America and of most of us who live here. Thanks Trump!

A massive trans-Atlantic military exercise has gotten underway with over 40,000 US troops and military vehicles expected to arrive in Europe. It is the largest US troop movement across the Atlantic in 25 years.

In total, over 20,000 troops and 20,000 pieces of equipment are being shipped across the Atlantic, arriving at six European seaports. They will then transfer to staging areas and on to military maneuvers with European partners, the US Army said.

A significant part of the troops and equipment are expected to be deployed to Poland, Latvia, Lithuania, and Estonia.

Feb 26 07:36

WARNING: Market Crashing/ Pandemic Imminent

Feb 26 05:38

NYC Hotel Loans Defaulting At Alarming Rate As Room-Rates Plunge, Tourism Tumbles

More and more New York City hotels are defaulting on their mortgages, signaling an alarming trend in the industry as "challenging market fundamentals" and new supply act as headwinds for the industry.

This has resulted in room rates declining and sites like Airbnb gaining traction in the market, according to The Real Deal.

The main metric to watch is the average daily room rate, which has dropped in New York City to its lowest point since at least 2013: $255.16, according to STR. More than 22,000 new hotel rooms remain in the pipeline, as well, which will further add to the supply glut and likely push room rates even lower.

Feb 26 05:36

Illinois Has Its "Oh Sh*t" Moment And Realizes It Has No Money In Its Rainy Day Fund

Illinois wants to play catch-up with its rainy day fund at what is likely the worst possible time.

With 11 years of bull market behind us and a pandemic that is starting to make its way across the globe, it is only now that Governor J.B. Pritzker has decided he wants to help bolster the state's safety net. He'll be playing catch up to many other states, who used the last decade to bolster their respective states' funds, according to Bloomberg.

The Democratic governor is proposing putting $50 million from the state's surplus into a "budge stabilization fund" this year and then doing the same thing in 2021 if voters approve an income tax referendum currently before the state. The fund was almost depleted in 2017 when the state's government, led by a Republican Governor with a Democratic legislature, locked up.

Feb 26 05:34

Where next for the economy of India?

Feb 26 05:19

GE Cut 78,000 Workers In 2019 Amid Stabilization Efforts To Thwart Bankruptcy  

While it's too early to write an obituary post for GE, certainly this iconic American company and once darling on Wall Street has stumbled towards the brink of failure.

GE has been a corporate shipwreck for the last decade, where infamous Madoff whistleblower Harry Markopolos warned in late 2019 that the company's 'cash situation' is a lot worse than the company's filings would suggest.

Markopolos said the accounting fraud that GE has conducted would be more significant than Enron and Worldcom combined.

Feb 26 04:17

Gold miners fret about long-term supply even as they boost dividends

Gold miners have largely been boosting dividends to appease long-suffering shareholders rather than funding fresh exploration projects needed to grow production, a strategy that executives are warning may pose long-term risk to the industry.

The tension comes as gold prices are at the highest in seven years, near $1,650 an ounce, a surge in part fueled by a flight to safe-haven assets amid rising global concern about the coronavirus.

Feb 26 03:57

Western Australia is world’s new top mining destination

Resource-rich Western Australia has been picked the most attractive region for mining investment in 2019, the latest annual survey of mining companies released Tuesday by the Fraser Institute shows.

The Aussie state, which is home to almost 130 export-oriented mining projects and hundreds of smaller quarries and mines producing over 50 different commodities, had ranked second in 2018.

Feb 26 03:56

China closing 150 gold mines

China’s official news agency Xinhua is reporting that the country is set increase annual gold output to 500 tonnes by the end of the decade from around 450 tonnes currently.

China overtook South Africa as the number one miner of the metal in 2007. China’s Ministry of Industry and Information Technology (MIIT) expects gold output to grow by an average 3% annually through 2020.

Feb 26 02:32

How Many Cases of Covid-19 Will It Take For You to Decide Not to Frequent Public Places?

As empty streets and shelves attest, people taking charge of risk has dire economic consequences.
How many cases of Covid-19 in your community will it take for you to decide not to frequent public places such as cafes, restaurants, theaters, concerts, etc? How many cases in your community will it take for you to decide not to take public transit, Uber/Lyft rides, etc.? How many cases in your community will it take for you to limit going to supermarkets and ask your boss to work at home?
One of the most unexamined aspect of the Covid-19 pandemic is the human psychology of risk assessment and fear. The default human response to novel threats such as the Covid-19 virus is denial and abstraction: it can’t happen here, it won’t happen to me, it’s no big deal, etc.

Feb 26 02:21

Europe keeps Schengen zone open despite coronavirus

European countries have no plans to suspend the Schengen free travel zone despite the coronavirus outbreak in Italy, Brussels has said, as it cautioned against a “panic” response.

The EU’s health security committee was due to meet on Monday for talks on the Italian crisis as the European Commission announced a €232m package for the global fight against the disease’s spread. 

An emergency assessment mission of the World Health Organization and the EU’s European Centre for Disease Prevention and Control is due to arrive in Italy, where 229 have tested positive for the virus and six people have died, on Tuesday as authorities there battle to contain the largest outbreak outside Asia.

“We need to take this situation extremely seriously — but we must not give in to panic and of course to disinformation,” Stella Kyriakides, EU health commissioner, told reporters in Brussels on Monday.

Webmaster's Commentary: 

When politics trump hard science, bad things happen; of course, with hubris the size of Texas, the Eurocrats are sitting safe in their bunkers, believing, with an absolutely stunning amount of "magical thinking" that this disease is never going to hit the EU, as it has China.

Feb 26 02:03

Who Is Behind the Mexican Drug Cartels?

President Donald Trump has declared that the “Drug Cartels” in Mexico are terrorists, intimating that America should wage a new “war on terrorism” in Mexico modelled on America’s counter-terrorism initiative in the Middle East against Al Qaeda.

What do the Mexican Drug Cartels and Al Qaeda have in common? They are covertly supported by US intelligence. They serve US interests.

Below Dean Henderson’s carefully researched article on the Mexican Drug Cartels first published in 2013.

Webmaster's Commentary: 

This is a long read, but worth it; your government makes money off of the drug cartels, therefore, no matter the codswallop coming from Washington against them, understand that they exist to provide service and support to this country's and other country's already well-monied elite.

Feb 26 01:34

US Airstrike Kills Terrorist Behind Attack on Kenya Base That Left 3 Americans Dead – AFRICOM

A US airstrike on Saturday killed a leader of the al Shabaab terrorist group who was blamed for an attack on a Kenyan military base last month that killed three Americans, US Africa Command (AFRICOM) announced in a press release on Tuesday.

“The two terrorists were identified as a senior al-Shabaab leader, who was in charge of planning and directing terrorist operations on the Kenya border region, including the recent attack on Manda Bay, and his wife, who also was a witting and active member of al-Shabab responsible for facilitating a wide range of terrorist activities,” the release said.

On 5 January, Islamist group Al-Shabaab - affiliated with al-Qaeda* - attacked a military base in Kenya's Lamu county.

The United States Africa Command issued a statement later in the day, saying that "one US service member and two Department of Defense contractors were killed at a Kenya Defense Force Military Base in Manda Bay, Kenya".

Webmaster's Commentary: 

Prayers for the families and friends of those Americans killed in this attack.

but that being said, what the hell is the American military doing in Kenya?

Because this... is the real question thinking Americans need to be asking themselves right now, and the answer to that question is both complicated, and should be morally, and geopolitically concerning to all Americans.

In the following article, Oxfam "nails" why the US is in this country:

Natural Resources: Kenya

The article goes on to state: "The discovery of oil, huge water aquifers, gas and coal in 2012 had the potential of boosting Kenya’s socio-economic development. The main challenge for Kenya’s emerging extractive sector however included outdated legislation, limited capacity for negotiating exploration contracts, and potential conflict over management of resources between national government, counties and within communities. Most communities living along such areas have not been consulted adequately for them to understand issues of compensation and benefits. The communities need to be well informed and give consent on land resettlement, their participation and even how to value their land to demand fair compensation and adequate involvement.

Oxfam’s work in the natural resources sector is a three programme approach that seeks to; promote women, men and youth in poor and marginalized communities secure their rights to access, control and own their land. Equally, the programme seeks to empower communities to make strategic decisions relating to their land and natural resources, monetarily and non-monetarily benefit from all forms of exploits derived from their land. In addition, Oxfam is working closely with policy makers to effectively implement accountable and transparent laws, policies and regulations."

What Oxfam would like to see happen here, is the polar opposite of what the US government, and the corporations which support it, want to see happen here.

The pattern is painfully familiar; regime change a government not to the US's liking, because they do want to give people living over and around its natural resources control over those resources, and shared revenue from their development; the expropriation of said resources, to which the US and US-centric corporations have no moral right; and corporate exploitation of those resources, leaving the people living over and around them, in lives of perpetual poverty and misery.

Or, in some cases, the US government is perfectly comfortable, supporting a government whose plans are inimical to the well-being of its citizens

Wash; rinse; repeat.

Why is it so damned hard for so many people not to understand what is going on here?!?

Is it, perhaps, because they just don't want to, because understanding would mean that there is a moral dilemma, which screamed for responsible, moral attention?

And of course, let's not forget China's appetite for raw resources in Africa as well.

The US is there, militarily, to enable it to dominate Africa economically, and prevent China's access not only to Kenya's natural resources, but to the rest of Africa's as well, as far as they can help it, insuring all imports are only sold for American dollars.

And that, folks, in a very grimy nutshell, is why the US military is in Kenya, and other parts of Africa as well.

Feb 26 01:11

THE DROWNING MIDDLE CLASS IN ONE CHART

SOURCE: CHRIS MENAHAN, INFORMATION LIBERATION

Americans over the past 35 years have had their effective incomes dramatically eroded due to the surging costs of college, health insurance, housing and transportation, according to a new study from the Manhattan Institute.

From The Manhattan Institute, "The Cost-of-Thriving Index: Reevaluating the Prosperity of the American Family" (via The Washington Post):

Webmaster's Commentary: 

Many people who have lived on Oahu, as we have, have decided to "vote with their feet", and move off an island beset by political corruption; huge boondoggle expenses, like the "light rail to nowhere"; a failing educational infrastructure; and housing which is crumbling, yet unaffordable, due to a tax structure which makes utterly no sense, unless one is well-monied in the first place.

And health care on Oahu?!?

Please, don't get me started; as a senior who suffered a compression spinal fracture about 3 years ago, with supplemental insurance, for which we paid, and pay, through the nose, I was informed by my HMO that I would have to wait 90 days before an appointment could be created, and I could be seen for care, even though I was in excruciating pain at the time, and attempted to convey that to the receptionist who set me up for an appointment... long after the permanent damage had been done to my back.

I did mention to the receptionist who "worked me in" for 90 days after that phone call, that I was in horrific pain, and believe that I was speaking English at the time; I guess that they have been trained to just not listen to a client making that observation.

I guess that this HMO's actuarial people were hoping and praying that I would die before they were mandated to provide care.

Feb 25 17:52

Extreme Panic Could Soon Hit USA…

Feb 25 15:23

Picking stocks based on personal consumption

Feb 25 15:19

Half-Billion $ Pandemic Derivatives

Feb 25 14:35

Oil Tanks On Fears Of Global Economic Crisis

Feb 25 12:31

Repeat after me: “It’s about time.”

Feb 25 09:01

Fed fund futures prob of a cut

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