ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Jun 16 08:17

This is worse than January/February

Jun 16 08:07

The Fed's Grand Bargain Has Finally Imploded

Jun 16 06:28

Wealthy Chinese Rushing To Move Cash Abroad Ahead Of Yuan Weakness

Wealthy Chinese citizens are going to great lengths to move money out of the country amid worries over a weakening Yuan and growing trade tensions with the United States, according to the Nikkei Asian Review.

China caps foreign exchange to $50,000 per year, per person. For overseas investments, buyers typically use multi-member families to pool their funds and exceed the limit, or they will bring cash while traveling abroad - a strategy which has been put on hold during the pandemic travel bans.

"There is no room for negotiation today," a black-market currency dealer said when approached on West Nanjing Road, a bustling commercial strip in Shanghai, last week. "It's going to be 7.2 yuan to the dollar."

The official rate was 7.06 that day, but the man, who was a little past his prime, was defiant. At one point late last month, the yuan had sunk to 7.19 in overseas trading. He was confident in the direction of the weakening currency.

Jun 16 06:20

Savings Are Critical to a Prosperous Economy

Jun 16 06:19

Manipulating The Masses: Edward Bernays & Why The System Needs Your Compliance

Authored by Mac Slavo via SHTFplan.com,

You are being controlled. You are being manipulated. You are being brainwashed. If you are still stuck believing that your vote counts and choosing sides is “moral” in a system set up against you from day one, the propaganda has worked.

In this video, we look at the ideas of Edward Bernays, nephew of Sigmund Freud, and a pioneering mind behind the field of public relations and modern propaganda – particularly his ideas on how group psychology, and the illusion of choice, can be used to manipulate the masses.

Webmaster's Commentary: 

I have given up voting in national elections, because at 71, I understand fully about this "illusion of choice"; and the hell of it is, no matter for whom I have voted in previous elections, the bi-partisan war party has always won.

Post-Vietnam, I had hoped for a country which would pull itself together and address the endemic problems of poverty and the racial divides, which have always existed here, but have been exacerbated by every economic downturn we have experienced; that hasn't happened.

The anger which has exploded since the murder of George Floyd has been simmering for a long time, and until these very real issues are addressed, the anger will continue, and we may well see our inner cities continue to burn, which breaks my heart.

Please remember; a lot of the businesses we have seen burned to the ground in these riots, were the life's work of many African American, Asian, and Hispanic entrepreneurs, whose economic futures are also in ruins.

Jun 16 03:39

Bankrupt shares can have risk??!!

Jun 16 03:27

Place your bets...

Jun 15 22:12

Can US house prices bounce?

Jun 15 08:14

WHAT WOULD A SECOND WAVE DO?

Jun 15 08:11

No Reserve Requirements Per The Fed!

Jun 15 07:30

‘Proud to be one of the ‘bad actors’ on RT,’ says Rose McGowan after DHS report smearing channel for coverage of BLM protests

American actress Rose McGowan said she is “proud” to be one of the so-called “bad actors” appearing on RT after the US Department of Homeland Security criticized the channel for covering protests over George Floyd's death.
In a bulletin reported this week, the DHS accused Russia, China and Iran of using state-owned media to “amplify criticism” of the US in relation to Floyd's death in May. The unarmed black man died at the hands of a police officer who kneeled on his neck for nine minutes ignoring his pleas for life.

Webmaster's Commentary: 

But what if some of this coverage is actually reasonable, and just?!?

It would appear to me that DHS has some fundamentally more important things to do in this country..... perhaps like, peacefully, taking back the autonomous zone in Seattle, known now by the acronym CHAZ, if that is possible?!?

How long is it's mayor willing to allow what is happening to continue, and at what point will the devolution here be made to stop?!?

That question right now.... is anyone's guess.

UPDATE: this is now called "Capitol Hill Occupied Protests, or CHOP for short. (Sigh; either way, these protestors are looking at a world of hurt, if they believe this is going to be allowed to become a permanent, "no-go" encampment zone.)

Jun 15 06:12

What The Hell Is The Great Reset?

Jun 15 04:50

Bear Market is Just Beginning: Here's Why

Jun 15 04:37

Robert 'Rich Dad, Poor Dad' Kiyosaki: What The Elites Don't Want You To Know

Authored by Mac Slavo via SHTFplan.com,

Robert Kiyosaki, the author of Rich Dad, Poor dad says there’s something the elitists don’t want you to know. There’s a simple way to take back your power, and it involves removing yourself from any centralized banking system.

These centralized systems were all set up for the elite by the elite, and they don’t want you to know you can remove yourself from the system, or the Matrix, so to speak. All you have to do is invest and spend outside of their system. Decentralized systems are already in place, and the key to breaking free involves understanding that the central banks were not set up to help you.

Jun 15 04:34

"Powell Is Now Helpless": Even A Modest Market Wobble Threatens To Devastate The Real Economy

Authored by Eric Peters, CIO of One River Asset Management

“We’re not even thinking about thinking of raising rates,” declared America’s Fed Chairman, all but eliminating uncertainty about the Fed policy path through 2022. The S&P 500 had completed a historic recovery from the pandemic lows to trade higher on the year, its price utterly disconnected from today’s economic devastation.

But markets never discount today, they discount tomorrow. And no sooner had they taken a little peek at what prices looked like back on January 1st then they began to plunge.

Webmaster's Commentary: 

Please, and I know I sound like a chipped CD on this, get your credit cards as paid off as humanly possible; credit is likely to become highly more expensive as we wade through this time.

Make sure you have adequate food, meds, water, and protection with which you feel comfortable; find people around you with whom you can barter. If you can buy silver, do so, and now. Economically, there us utterly no telling what is around the corner for this country, or how soon things may cascade downward even more.

Jun 15 04:28

A Shocking Eye-Witness Account Of What's Really Happening During The Seattle Riots

Authored by Daisy Luther via The Organic Prepper blog,

A social media post (which has been removed) by a member of the Washington National Guard has been shared more than 7000 times since it was written on June 12th. It’s a true education in mob mentality.

As Toby Cowern says, “Look how much ‘othering’ has been done already. Once that’s happening there’s a big problem.”

He’s right – and here’s the shocking truth about what’s really going on in Seattle from a person who had a front-row ticket to the mayhem.

You may be completely on your own.
As you can see, you can’t depend on anyone to come and save you when unrest shows up in your neighborhood. The people who were there, willing, and able to defend Seattle were forced to stand down. You have to expect to be completely on your own. Learn more about how to stay safe during civil unrest scenarios here.

Webmaster's Commentary: 

I have never been more grateful for being in an essentially very rural part of the country, where neighbors know who you are, and are very polite, and kind from the heart.

I am not a confrontational person, but there seems to be some agendas driving this kind of behaviour which are not actually in favor of We the People; that concerns me.

Mike and I peacefully demonstrated against the coming war against Iraq on Oahu, all the time being watched and photographed by someone who could well have been an IDF agent; we were not sure.

But the more violent these demonstrations become, the more concerned I am about them being used as the excuse to suspend the Constitution and Bill of Rights, and impose martial law in this country; I am hoping and praying that I am wrong on this.

Jun 15 04:14

"You Can't Rally But We Can Protest!"

These people want you to believe that this pandemic is caused by some magical woke virus, one which somehow skips those who have the right politics. What it actually does is raise the suspicion that Democrats and progressives have wanted to keep the economy shut down and people at home as long as possible to affect the outcome of the November election. Your job and your family or your church (also protected by the First Amendment) are not important. Our joining in large crowds to protest is.

There is almost assuredly going to be a spike in COVID cases and it will also almost assuredly be put on red-state governors and the President holding rallies. But Democratic activists and politicians themselves created this situation. They encouraged the world to disregard lockdown and people will now follow their lead, no matter how much they are scolded by the media. These people think we’re all stupid. We’re not.

Jun 15 04:01

Pentagon Starts Bailing Out Companies That have Lost Business Due to Coronavirus

The Defense Department is sending millions of dollars to keep companies afloat, and more deals are expected.

The Pentagon has begun to bail out U.S. companies that have seen large parts of their business dry up amid the coronavirus pandemic, in a bid to make sure they can still build weapons.

On Wednesday, officials announced that five mid-tier defense companies had received a total of $135 million to “help sustain defense-critical workforce capabilities in body armor, aircraft manufacturing, and shipbuilding,” according to a Defense Department statement.“These actions will help to retain critical workforce capabilities throughout the disruption caused by COVID-19 and to restore some jobs lost because of the pandemic,” Lt. Col. Mike Andrews, a Defense Department spokesman, said in the statement.

Webmaster's Commentary: 

Crumbs for the people who really need the help; massive assistance to the companies which make things that kill.

Folks, what is wrong with this picture?!?

BLOODY EVERYTHING.

Jun 15 04:00

Wow, That Was Fast: Debt Out the Wazoo

Jun 15 03:58

Pompeo Tells US Jewish Group China a Growing Threat to US, Israel

Secretary of State Mike Pompeo gave a speech to the American Jewish Committee (AJC) annual conference, centering on mounting US hostility toward China, and arguing that China and its foreign policy are a mounting challenge to both the US and Israel.

The AJC tends to take positions favorable to Israel, though in general the interests of Israel and China don’t conflict or intersect much. Pompeo played up the idea that China is a threat to the American “way of life” and endangers everyone.

Webmaster's Commentary: 

PLEASE tell me that this is not the same guy who is planning to meet with Chinese leadership in Hawaii in the next couple of weeks to "ratchet down tensions!!"

DANG! IT IS!

Jun 15 02:58

The US economy is showing signs of recovery

Jun 14 06:09

The Oil Price Rally May Have Gone Too Far

Jun 13 15:29

The Employment Situation Is Still A Disaster

Jun 13 05:24

Democrats are reportedly HIDING Biden’s economic advisers (as well as Joe himself) - and there is a simple reason for that

By offering no specifics about his policies or advisers, Democratic presidential hopeful Joe Biden is letting supporters project their hopes and dreams onto his campaign. The strategy works, so long as he doesn’t open his mouth.
After drawing outrage from progressives for having Larry Summers – a neoliberal economist who ran the Treasury under Bill Clinton and later Harvard University – advising the campaign, back in April, Biden’s handlers have decided to keep mum about his advisers going forward.

Anyone advising Biden has been sworn to secrecy, banned from even acknowledging their relationship with the campaign, let alone revealing the names of other members, according to a New York Times feature on Thursday, titled ‘Biden’s Brain Trust on the Economy: Liberal and Sworn to Silence’.

“Simply put, do not talk to the press,” according to an email from the campaign the Times somehow obtained.

Jun 13 05:02

Treasury chief refusing to disclose recipients of virus aid

Building ramparts of secrecy around a $600 billion-plus coronavirus aid program for small businesses, Treasury Secretary Steven Mnuchin has moved from delay to denial in refusing outright to disclose the recipients of taxpayer-funded loans.

Mnuchin told Congress at a hearing this week that the names of loan recipients and the amounts are “proprietary information.” While he claimed the information is confidential, ethics advocates and some lawmakers see the move as an attempt to dodge accountability for how the money is spent.

Businesses struggled to obtain loans in the early weeks of the program, and several hundred publicly traded companies received loans despite their likely ability to get the money from private financial sources. Publicly shamed, a number of big corporations said they would return their loans.

Webmaster's Commentary: 

The secrecy around these loans has to do with the fact that it was the most monied companies in the US which got the lion's share of the prize here, and the current Administration doesn't want it's "base" to understand that, of course.

Jun 13 04:55

The Worst of All Possible Worlds? Echoes of Orwell’s Dystopian 1984. Mass Surveillance, Police State Rule, Struggle to Survive…

Longterm harm caused by US policies at home and abroad are far removed from a Panglossian best of all possible worlds view.

What’s going on has echoes of Orwell’s dystopian 1984.

Both right wings of the US war party wage forever wars against invented enemies.

Mass surveillance, controlling the message, and countering resistance are what police state rule is all about, how the US operates domestically, what it wants imposed on other nations worldwide.

The disparity between super-wealth and growing poverty in the US is greater than any time since the 19th century gilded age.

The nation’s economic policy elevates all yachts to unprecedented levels while protracted main street Depression harms ordinary Americans with nothing ongoing to change things.

Countless millions of US households face unacceptable choices between paying rent or servicing mortgages, seeking increasingly unaffordable medical care when needed, heating homes in winter, and feeding family members.

Jun 13 04:26

US Sends F-35s to Middle East, Likely Targeting Iran

The US is sending a new group of F-35s to the Middle East, though exactly why is subject to speculation, as Centcom’s report was just a list of things the costly plane could conceivably do.

Things like close air support are capabilities, but not strengths, and the US has other planes better suited to that role. This is fueling speculation that the move is aimed at Iran.

There seems no particular reason to be after Iran just now, but US hostility toward Iran comes and goes like the seasons, so it is as good an explanation as any.

Webmaster's Commentary: 

It appears to me that the US military is sending these fighter jets around, so that they can appear as though they are actually "doing something", when in reality, many of the critical infrastructure problems have never gotten fixed.

Five F-35 issues have been downgraded, but they remain unsolved

The article goes on to state: "The F-35 Joint Program Office has put in place stopgap fixes for five key technical flaws plaguing America’s top-end fighter jet, but the problems have not been completely eliminated.

Last June, Defense News reported exclusive details about 13 major technical issues, known as category 1 deficiencies, impacting the F-35. The JPO has since quietly downgraded five of those issues to the lesser category 2."

Jun 13 04:18

Colorado Bill Requires "Re-Education" For Parents Who Refuse The COVID-19 Vaccine

Authored by Mac Slavo via SHTFplan.com,

Are you ready for re-education camps in the United States? Colorado has introduced a bill that would “re-educate” parents who refuse to vaccinate their child with the coronavirus vaccine.

The bill forces all doctors and medical staff to give vaccinations with no exemptions, even if they are in a situation where they believe it would not be in that child’s best interest. The bill’s current version, however, does not list any sanctions or punishments for medical staff that refuse, according to Life News.

Webmaster's Commentary: 

One has to wonder what very powerful members of the Colorado legislature, have a lot of money invested in pharmaceutical stocks, for such a draconian bill to even get considered.

Jun 13 03:55

AMERICA CONVULSES IN PAIN, FED BAILS OUT THE WEALTHY

SOURCE: WOLF STREET

n a Wall Street Journal/NBC poll out today, 80% of the respondents said they feel that the country is spiraling out of control.

So there are some huge multi-faceted problems that need to be grappled with, and that need to be resolved, and people are hurting, and they’re frustrated, and they’re angry, and many are unemployed, and others have jobs that don’t pay enough to meet the rising living expenses, and small businesses are on the ropes, and there’s going to be a lot of pain.

And what does the Federal Reserve do?

Webmaster's Commentary: 

I tend to be the Pollyanna in this little home of two.

But at 71, seeing the level of deliberate destruction being done at all levels to so many people, you will forgive me, at this point, for having a completely jaundiced eye toward the political process in this country, at every possible level.

The monied will take care of their own, and the rest of us can rot, thank you very much; that has been the most befitting description of the degradation of the American political process.

I see utterly no hope for this country, and have to wonder just how long things can hold together, before we see a complete balkanization of the Unhinged, Surveilled, State of Amerika, with the present, or future regime, will be powerless to prevent, because there is zero trust in the veracity of the political class.

Jun 12 19:55

Corporate America Pledges $1.7 Billion to Black Lives Matter

It is going to be quite a trip watching Black Lives Matter spend billions of dollars in the coming years handed to them by the most powerful megacorporations in the world to tell everyone how "systemically oppressed" they are!

Jun 12 10:37

WHO IS PRINTING THE FASTEST?

Jun 12 10:24

Oil Prices Crash On Second Wave Of COVID-19

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