ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Sep 13 07:52

T-Mobile Merger Approval Violated Every Last One Of the DOJ's Updated 'Antitrust Principles'

Earlier this month, the Department of Justice issued a new, "modernized" merger remedies manual that's supposed to dictate agency behavior as it ponders approving, denying, or applying conditions to major U.S mergers. Superficially, many of the changes outlined in the document make perfect sense. For example, the new breakdown dictates that any merger remedies (including blocking deals outright) should do most of the things you'd expect, such as preserving competition:

Remedies must preserve competition.
Remedies should not create ongoing government regulation of the market.
Temporary relief should not be used to remedy persistent competitive harm.
The remedy should preserve competition, not protect competitors.
The risk of a failed remedy should fall on the merging parties, not on consumers.
The remedy must be enforceable.

Sep 13 06:29

Public Debt higher than WWII

Sep 13 05:47

Directionless Market Awaits the FOMC

Sep 12 11:59

From 9/11 to the Great Reset

As it stands, there’s only one thing we do know: the establishment at the core of the Hegemon and the drooling orcs of Empire will only adopt a Great Reset if that helps to postpone a decline accelerated on a fateful morning 19 years ago.

Sep 12 08:21

Gold Reaches $2,000 Amid Dollar Depreciation

Sep 12 08:02

Who has been buying this stock market?

Sep 12 03:23

40 million evictions coming?

Sep 12 02:33

Circling Back to a Recent Non-Divergence

Sep 11 14:48

STOCKS OR GOLD IN THE 1970s?

Sep 11 12:42

If You Feel Like Something Really, Really Bad Is About To Happen, You Are Definitely Not Alone

No matter who wins the election, the direction of the Fed is not going to change.  They are going to continue to engage in exceedingly reckless manipulation of the markets, and that is going to have very serious long-term implications.

Sep 11 11:49

Temporary To Permanent Job Losses

Sep 11 09:15

The Fed Promises More Dollar Destruction

Sep 11 07:49

Saudi Aramco Is Now Suffering The Consequences Of A Failed Oil Price War

It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons.

For Crown Prince Mohammed bin Salman (MbS), one of the masterminds behind the oil war – the economic and political problems that his country now face appear to come a very distant second to preserving whatever he thinks is left of his own reputation, with the most obvious public manifestation of this being the aftermath of the internationally-shunned omni-shambolic initial public offering (IPO) for hydrocarbons giant, Saudi Aramco (Aramco). Consequently, in order to stand by one of the inducements required to inveigle anyone to buy the shares – in the triple-locked guaranteed dividend payout – swingeing cuts to key projects for Saudi Arabia are now being announced.

Sep 11 07:46

Why One Bank Thinks The World Is "On The Cusp Of A New Era Characterized By Disorder"

Back in July, one of the most respected credit strategists on Wall Street caused stunned gasps across the financial world, when he admitted that he is "a gold bug." Deutsche Bank's Jim Reid may have been forever cast out of the ranks of polite, non tinfoil hat/conspiracy theory society when he said that in his opinion, "fiat money will be a passing fad in the long-term history of money", a shocking admission (if one that many of his peers secretly harbor) for most financial professionals who are expected to tow the Keynesian line and always believe in the primacy of fiat and its reserve currency, the US Dollar.

Sep 11 07:44

"It's Happening Again" - Traders Store Oil At Sea As Recovery Falters 

Crude prices slid Thursday as the stalled global economic recovery from the virus pandemic triggers a "second wave" of demand fears and sparks renewed interest in floating storage as the oil market flips bearish.

Reuters said a "fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again."

Floating storage, onboard crude tankers, comes as traditional onshore storage nears capacity as supply outpaces demand.

Sep 11 07:44

The Race For The US Senate

The contest for control of the Senate may have even larger implications for markets and the investment community. Tax policy, judicial and executive branch confirmations, and the future of the Senate rules on Cloture (the only procedure by which the Senate can vote to place a time limit on consideration of a bill or other matter, and thereby overcome a filibuster) are all up for grabs.

Based on our conversations with campaigns and pollsters, we wanted to share our current views on the state of the various Senate races.

Sep 11 07:43

Container Rate Records Are Shattered As US Imports Surge

Just how high can Asia-U.S. West Coast spot rates go? They blew past $3,000 per forty-foot equivalent unit (FEU) in early August and have been climbing ever since. They’ve just topped $3,700. Can they reach $4,000?

Sep 11 07:04

Narrowest breadth since the Dotcom bubble

Sep 11 05:29

.UK Strikes Historic Free Trade Deal With Japan As Brussels Threatens To Abandon Talks

After a solid nine-month stretch that was blissfully devoid of major Brexit-related news as the global COVID-19 pandemic raged on, we declared last night that Brexit talks "suddenly matter again" as the drop in the pound was blamed - incorrectly, as Bloomberg later determined - for triggering yesterday's intraday declines in US markets.

But on Friday morning, American traders awoke to some surprisingly positive trade news out of Great Britain. A trade deal with Japan had been agreed to in principle, which would - if finally ratified by both countries - allow 99% of the UK's exports to Japan to cross the border tariff-free.

What's more, the deal even gave Johnson the opportunity to gloat, as Reuters reported the digital and data provisions in the agreement went "far beyond" those in the EU's trade deal with Japan.

The deal also allowed BoJo to show voters that Brexit is already giving them new options to strike favorable free trade deals.

Webmaster's Commentary: 

It will be interesting to see how the EU's financial arrangements with the UK either evolve, of devolve, after this treaty.

Sep 10 12:07

Background- 1933 The Bankruptcy of the UNITED STATES

1933 was a year of MAJOR events in America. During this year constitutional money (gold) became outlawed and effectively all property in America become mortgaged and held (in Trust) for the Federal Reserve bank as collateral for the nation debt. All of this was done without the full knowledge or consent of the American people. This was the year that the Government instituted the creation of the ALL CAPITAL letter strawman names (via the newly required Birth certificates) for American citizens thus creating a whole new class of "Persons" as debtor slaves.

Sep 10 10:47

CRUDE OIL – THE BEARISH OUTLOOK REMAINS

Sep 10 09:04

Ahead of the September FOMC

Sep 10 07:28

Nikola Shares Drop After Hindenburg Research Calls It A "Intricate Fraud", Compares It To Theranos

Nikola shares are selling off pre-market in response to a new report from Hindenburg Research, which calls it an "intricate fraud" based on conversations with former employees.

"Today, we reveal why we believe Nikola is an intricate fraud built on dozens of lies over the course of its Founder and Executive Chairman Trevor Milton’s career," the report claims.

"We have gathered extensive evidence—including recorded phone calls, text messages, private emails and behind-the-scenes photographs—detailing dozens of false statements by Nikola Founder Trevor Milton. We have never seen this level of deception at a public company, especially of this size."

Sep 10 07:11

NSA Chief Who Oversaw Sweeping Domestic Phone Surveillance Joins Amazon Board As Director

Just days after Amazon published a scathing letter slamming President Trump for not allowing the American multinational tech company to get the $10 billion Joint Enterprise Defense Infrastructure (JEDI) contract, which instead was awarded to Microsoft, Amazon's board has just appointed former NSA head and retired general of the US Army Keith B. Alexander as a director.

Alexander will also serve on the board's audit committee, according to Bloomberg on Wednesday. The company which has long faced criticism and scrutiny over its deep CIA ties and collaboration, especially given its prior $600 million contract with the CIA for cloud computing services, will now have a well-known national security state hawk who was commander of US Cyber Command from May 2010 to March 2014.

Sep 10 06:30

ECB Buying Bank Stocks

Sep 10 06:12

48% Of Jobs From Recession Recovered

Sep 10 05:40

Sell-Off as Nazdaq gets sick….

Sep 10 05:38

LIVING AND DYING BY A CENTRAL BANK SWORD

Sep 10 05:34

Jim Bianco discusses the stock sell-off

Sep 10 03:04

Northrop Grumman Wins $13.3 Billion Contract To Build New ICBM

Defense firm Northrop Grumman has announced it has landed a major defense contract to lead in developing America's Ground Based Strategic Deterrent program.

It won a whopping $13.3 billion Air Force contract to build the Pentagon's next-generation intercontinental ballistic missile (ICBM), crucial in nuclear deterrence.

A Northrop Grumman press release said that a team nationwide that will include over 10,000 engineers, scientists and technicians will spend eight-and-a-half years building the new missile, with an expected operational goal of 2029.

Both Congressional Democrats as well as arms control groups have remained fierce critics. Former Defense Secretary William Perry said in a statement in association with the nuclear nonproliferation group Ploughshares Fund, subsequently cited in The Hill, “The highest probability of starting a nuclear war is a mistaken launch caused by a false alarm and a rushed decision to launch nuclear-armed ICBMs.”

Webmaster's Commentary: 

That last assessment is, unfortunately, one which may well become a self-fulfilling prophecy.

Sep 10 03:01

US Military Testing "Skylord" Counter-Drone AR Interception System

The U.S. Department of Defense (DoD) has partnered with an Israeli-based startup, called Xtend, to pilot test the Skylord drone, initially developed for the gaming world, which would be used as a drone interception system on the modern battlefield.

The Skylord drone is small and extremely fast and uses a net to disable small enemy drones. Skylord is equipped with a camera and automatic tracking software. The operator can control the drone via virtual reality and augmented reality glasses.

"Using an augmented reality (A.R.) device and single-handed controller, a military operator may employ the ... system to control the drone and perform complex tasks remotely, with great ease and precision. Its interface enables the operator to immerse themselves or 'step into' a remote reality and engage targets effectively yet safely," according to a statement from Xtend.

Sep 10 02:57

Mile Markers Of Tyranny: Losing Our Freedoms On The Road From 9/11 To COVID-19

Authored by John Whitehead via The Rutherford Institute,

“No one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end.”

- George Orwell

You can map the nearly 20-year journey from the 9/11 attacks to the COVID-19 pandemic by the freedoms we’ve lost along the way.

The road we have been traveling has been littered with the wreckage of our once-vaunted liberties, especially those enshrined in the Fourth Amendment.

The assaults on our freedoms that began with the post-9/11 passage of the USA Patriot Act laid the groundwork for the eradication of every vital constitutional safeguard against government overreach, corruption and abuse.

Webmaster's Commentary: 

There has been "no US child left behind" since 9/11 who has not witnessed, and experienced the terrors the Unhinged, Surveilled State of Amerika has visited, both upon its citizens, in its being perpetually at war with some third world entity with the temerity of sitting over some natural resource so coveted by this country, that they will go to war to obtain it; control it; insure to whom it can or cannot be sold, and in what monetary currency it can be sold.

And the "active shooters drills" in public schools?!? It would only take ONE for me to pull our kid out of that public school so quickly, that the principal's head would be spinning.

I would also make sure my neighbors understood, that if they sent their child to that public school, the emotional scars from this kind of experience, is precisely the kind of intense trauma with which they can expect their kid to come home.

These drills are not about "safety"; they are about conditioning our kids to accept state-induced trauma, so that they can be controlled more easily.

Sep 09 09:06

Georgia Hosts Major NATO Troop Drills While Touting Bid To Join The Alliance

Yet another provocation sure to increase tensions between Russian and NATO has begun this week in the form of war games hosted by the Republic of Georgia.

On Monday the Noble Partner 2020 military exercises kicked off, which involves close to 3,000 NATO troops from the US, Britain, France and Poland. Centered on the capital of Tibilisi, the games will simulate an external invasion of the caucuses country.

The US Army began training exercises last week ahead of the main part of the games, which will go through September 18.

Georgian Prime Minister Giorgi Gakharia sought to sidestep any accusations, describing the drills as “a guarantee of peace in our country” and “are not directed against anyone,” in an opening address to troops.

Webmaster's Commentary: 

I am not quite sure that Russia will see these exercises in quite the way that the last paragraph above, described.

Sep 09 07:46

Elon Musk loses record $16.3 billion in just ONE DAY amid rout in US technology stocks which saw shares in his electric car firm Tesla plunge 21%

Elon Musk lost a record $16.3 billion after Tesla shares plummeted by 21 per cent losing more than $100 billion off its market value yesterday - the company's biggest ever drop.

To add insult to injury, the electric car maker was snubbed for inclusion in the S&P 500 Index.

Musk's drop in net worth is the largest single-day wipe-out in the history of Bloomberg's Billionaire's Index, and comes amid a rout in US technology stocks that started at the end of last week but continued after Labor Day.

Sep 09 07:16

The 1998 Correction & The Run To The Peak

Sep 09 06:23

A September Stock Market Crash?

Sep 09 05:19

As Official Germany Talks Of Stopping Russian Gas Via Nord Stream II, US Importing Record Amounts Of It

Update: Sahra Wagenknecht has followed up her NOZ interview, covered below, with a tweet: “Why, when the US is importing record amounts of Russian oil, should the EU not be allowed to purchase gas from Russia? BuReg must not fall in withTrump’s hypocrisy. Fracking gas from the USA is an expensive and environmentally harmful alternative!”

Sahra Wagenknecht, Die Linke, sees double standards at work in the Navalny case.

In the debate about measures to punish Russia because of the Navalny case, Wagenknecht warns against “hypocrisy” and referred to thousands of deaths from US drone murders [without any consequent sanctions].

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