ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Sep 09 04:32

ARE THE DARK YEARS COMING?

Sep 09 02:44

Gates Foundation is Also Destabilizing Africa’s Food Economy. The Restructuring of Global Food Production

False Promises

In a new detailed report evaluating results country-by-country, the reality of the Gates Africa agriculture project shows alarming, but not surprising, results. The report is called False Promises: The Green Revolution in Africa. It was prepared by a group of African and European NGO’S in collaboration with Timothy A. Wise, Senior Advisor at the Institute for Agriculture and Trade Policy of Tufts University. The report concluded, “yield increases for key staple crops in the years before AGRA were just as low as during AGRA. Instead of halving hunger, the situation in the 13 focus countries has worsened since AGRA was launched. The number of people going hungry has increased by 30 percent during the AGRA years… affecting 130 million people in the 13 AGRA focus countries.” That is no minor failure.

The Re-Colonization of Africa by Agribusiness

Webmaster's Commentary: 

This does not augur well for ANY PROJECTS in which the Gates Foundation is involved; it is simply, like everything else it touches, a great money-making scheme enabling the large corporations to get even richer on the backs of poor people in the third world, who are already horrifically marginalized, given the terms of their agreements and contracts with the makers, and owners, of these seeds.

Sep 09 02:34

US/NATO Preparing for War on Russia? Six Military Exercises at Russia’s Doorstep

From inception, the US has been addicted to war, glorifying it deceptively in the name of peace.

In 1982, founder of the Pentagon’s nuclear navy Admiral Hyman Rickover explained the risks to Congress in the age of super-weapons able to end life on earth if used in enough numbers, saying the following:

“The lesson of history is when a war starts every nation will ultimately use whatever weapons it has available” to win, adding:

“I think the human race is going to wreck itself, and it is important that we get control of this horrible force and try to eliminate it.”

Rickover regretted his role in what became a nuclear arms race.

“I would sink…all” US nuclear powered ships, he said. “I am not proud of the part I played in” their development.

“That’s why I am such a great exponent of stopping this whole nonsense of war.”

Bertrand Russell noted the risk, saying:

Webmaster's Commentary: 

Many, many years ago (when I was very young), there was a commentator on KABC radio named Michael Jackson (not the singer/dancer guy.)

And I remember him very fondly for saying, that if intelligent extraterrestrial life existed, it would never stop here on earth, because the major activity of its inhabitants was still... tribal warfare.

Unfortunately, the man was absolutely bang spot-on; there is still a part of the human psyche in love with the allure of war, and its being able to create so much death and devastation through its use.

Sep 09 02:20

Report: Three More Iranian Tankers Under Way With Fuel for Venezuela

Analysts with TankerTrackers.com have tentatively identified a new round of Iranian gasoline shipments to Venezuela. According to the firm, the product tankers Forest, Faxon and Fortune appear to have taken on about 825,000 barrels of gasoline at Port Shahid Rajaee, then turned off their AIS transponders. None have broadcast an AIS position since the end of August, according to consultancy Dryad Global.

TankerTrackers.com believes that these vessels are "very likely" headed for Suez, then Venezuela - marking the second time this year that Iranian-flagged vessels have carried gasoline cargoes on this route.

Webmaster's Commentary: 

I would like to politely remind those in the Bowels of Power in DC, that a boarding and inspecting the cargo of ships in declared international waters, is tantamount to an act of war.

Sep 09 01:57

Can The US Recover All COVID-Fueled Job Losses By Early 2021?

Authored by Daniel Lacalle, op-ed via The Epoch Times,

The employment recovery in the United States is as impressive as the collapse due to the lockdowns.

What the United States needs to do to recover jobs and return to real wage growth and the path to full employment is both easy and challenging.

The United States needs to cut red tape and bureaucratic burdens to new business creation, lift regulatory and fiscal burdens that prevent small and medium enterprises from growing into large companies, and maintain an attractive tax system that incentivizes investment, capital repatriation, and supports job creation.

Anyone can understand this. Why is it challenging, then?

In the middle of an election year there are too many misguided proposals from the left demanding higher taxes, more government interventionism, and more regulatory burdens. It seems that many politicians cannot learn from the mistakes of the eurozone.

Sep 09 01:48

California Towns Are Leasing Back Their Own Streets To Build Prisons, Finance Pensions

What matters most: The unique structure of a lease revenue bond makes the essentiality of the facility being leased and the legal protections on appropriating funds very important. Bonds backed by structures with lower essentiality and limited protections for appropriating funds will usually be lower-rated and have higher yields. Our opinion is to be cautious of bonds backed by lease revenues, as these bonds should be viewed more like general government bonds, not revenue bonds.

Although the name of the bonds implies that the streets are nominally being "leased," the bondholders will not have any particular rights to lay claim to the streets; despite their status as “collateral,” the bondholders can’t take them over and charge tolls if a city defaults on the rent.

Webmaster's Commentary: 

The way these are structured, to bypass states' voters will, should be made illegal.

Sep 09 01:25

Embattled Lukashenko Raises Possibility Of Fresh Elections In First Hint At Compromise

Embattled Belarusian President Alexander Lukashenko has remained defiant after weeks of mass protests have brought parts of the country, especially the capital of Minsk, to a standstill, following his disputed August 9 reelection to a sixth term. He's actually been seen walking the presidential compound grounds in combat fatigues while holding an automatic rifle, to show just how serious he is about resisting the unrest increasingly at the gates of his residence.

But on Tuesday he showed the first signs he might be willing to compromise as both domestic and international pressures grow toward holding a fresh election. The opposition claims the Aug.9 election was "rigged" as exiled opposition leader Sviatlana Tsikhanouskaya urges "international pressure on this regime" while issuing regular messages from neighboring Lithuania

Webmaster's Commentary: 

Fingers crossed, that the possibility for violence will be stayed, and that a second set of elections will be forthcoming, and counted honorably, when done.

Sep 08 11:58

Oil Prices Tank On Global Demand Concerns

Sep 08 09:53

Russia & China buying a lot of gold

Sep 08 09:35

True scale of Britain's jobs bloodbath revealed: Thousands of firms planned more than 300,000 redundancies in June and July as coronavirus pandemic ravaged workplaces

Businesses across the UK planned more than 300,000 redundancies in June and July as coronavirus wreaked havoc on the economy, new figures have revealed today.

The crisis hammered UK firms as 1,888 British employers planned 156,000 job cuts in June, a sixfold increase on June 2019.

Some 1,784 firms made plans to cut nearly 150,000 jobs in July - almost a sevenfold increase on July 2019 - according to an FOI by the BBC.

The lay-offs have continued as Virgin Atlantic announced more than 1,000 additional job cuts on Friday, becoming the latest company to lay off large numbers of people.

It joined Costa to bring the total number of jobs lost in major redundancies to 2,800 last week alone.

Sep 08 09:33

64% of NYC restaurants warn they will be forced to permanently close this year as Cuomo again fails to offer up indoor dining plan for the city despite infection rate remaining below 1% after 31 days

A new shocking report claims that 63.6 percent of all restaurants in the state could permanently close by the end of the year without a comprehensive relief package.

Just 36.4 percent of restaurants said they were likely to remain open.

Of the 63.6 percent that said they could close in 2020, 54.8 percent said they will close before November, the restaurant association found.

Sep 08 09:30

Stocks Plunge! How Bad Will It Get?

Sep 08 05:57

Gold Is Lower Due To Economic Recovery…?!?

Sep 08 05:49

The Fed’s Brilliant Plan? More Inflation and Higher Prices!

However, if pro-liberty Americans are able to force Congress to begin cutting spending — starting with the money wasted on militarism — and to move toward restoring a sound and sane monetary policy that includes ending the Federal Reserve, we can minimize an economic crisis and begin restoring limited constitutional government, a free-market economy, and respect for liberty.

Sep 08 05:46

Why I still expect UK house prices to fall

Sep 07 20:22

Quarter of workers fear losing job in next year - StatsNZ survey

A quarter of workers have expressed fears they may lose their job in the next 12 months, according to a question asked by StatsNZ in its latest Household Labour Force Survey.

The survey of employed people in the June 2020 quarter showed 7 per cent felt there was a high or almost certain chance of losing their job or business within the next 12 months.

At a national level this represented 185,000 workers.

A further 18 per cent (representing 468,000 workers) felt there was a medium chance of losing their job.

Sep 07 14:13

‘A tale of 2 recessions’: As rich Americans get richer, the bottom half struggles

The path toward economic recovery in the U.S. has become sharply divided, with wealthier Americans earning and saving at record levels while the poorest struggle to pay their bills and put food on the table.

Sep 07 09:15

Flashback: 12-Year Old Child Reveals One of the Best Kept Secrets in the World

12-year old exposes the immorality of the global banking system and why sound money is essential to freedom and stopping the spread of misery on this planet.

This was awesome.

Sep 07 08:58

Australian fruit being left to rot amid shortage of pickers

Fruit across the nation is in danger of being left to rot due to a chronic shortage of fruit pickers on Australian farms says Sky News host Peta Credlin.

Sep 07 06:12

Is China On The 'Brink' Of A Major Food Shortage? 

China recently launched the "Clean Plate Campaign," which targets people wasting food, as speculation of a worldwide food shortage mounts.

President Xi Jinping has pushed new measures to curb food waste following the virus pandemic, calling those who live stream their eating experiences on social media as "shocking and distressing."

Jinping said China had to "maintain a sense of crisis about food security" amid the virus pandemic. The warning comes as the world's second-largest economy could soon face food shortages. Besides the virus-induced economic downturn disrupting food supply chains, there's been droughts, floods, and pests that are likely to result in poor harvests this year.

Chinese state news agency, the Global Times, downplayed the notion China is headed for a food crisis. Some restaurants in China have limited the number of dishes served to diners, while others have weighed customers before ordering.

Webmaster's Commentary: 

To those of you who have never done it, slow cooking and being able to cook over an open fire, may well become your new normal; learning these skills now may well determine your survival in times to come; our electronic grid is pressed to the limit, both in terms of surging demand, and vulnerability to interruption.

Look at how successful the French have been in making slow cooking taste delicious, as in boeuf bourguignon!!!

Sep 07 05:42

A Record 52% Of Millennials Now Live With Their Parents, Highest Since Great Depression

Wall Street and the Trump administration have been in no rush to acknowledge the deep economic scarring from the virus-induced downturn that is set to prolong the recovery well into 2021. Readers, by now, understand the probabilities of a "V-shaped" recovery for the real economy for the remainder of 2020 are quickly fading.

Stories of permanent job loss and the collapse of small businesses are gaining traction in the mainstream press in Sept. as the stock market rolls over. Another dose of economic reality could stun Americans as the total number of young adults living at home has just surpassed levels not seen since the 1930s Great Depression.

A new report via Pew Research Center explains a record amount of young folks have moved back home because the virus pandemic has crippled their finances. As of July, 52% of millennials were living at home, up from 47% in Feb. At least 2.6 million youngsters over the Feb. to July period returned home, pushing up the total to 26.2 million.

Webmaster's Commentary: 

These numbers are pretty intense.

Mike and I have been looking on line for some chair beds, and/or sofa beds, and the numbers of these items no longer available, or only available in "gray" from well-known on line resources is staggering.

Sep 07 03:16

Plenty of room below...

Sep 06 20:14

What To Do When The Bubble Bursts

Sep 06 13:36

For first time since Great Depression, most adults under 30 living with parents…

In July, 52% of young adults resided with one or both of their parents, up from 47% in February, according to a new Pew Research Center analysis of monthly Census Bureau data. The number living with parents grew to 26.6 million, an increase of 2.6 million from February. The number and share of young adults living with their parents grew across the board for all major racial and ethnic groups, men and women, and metropolitan and rural residents, as well as in all four main census regions. Growth was sharpest for the youngest adults (ages 18 to 24) and for White young adults.

Sep 06 08:09

The Next Normal: Is Central-Bankism Transitioning To Fascism

In late 2019 we published a report titled “A Decade of… What Exactly?” which underlined how disappointing the economic erformance in the post-global financial crisis “New Normal’ era had been on almost all fronts.

It showed how the experience had been one of: lower GDP growth, lower inflation, lower wage growth, and lower productivity alongside higher inequality, higher debt, higher asset prices, high and rising political populism, and high and rising geopolitical tensions, particularly between the US and China. All of these were issues we had been flagging for years.

We concluded that the outlook for the decade of the 2020s was deeply worrying.

We had likewise already recognised earlier in the year that the socio-economic impact of Covid-19 is likely to be severe and broad-ranging enough. Indeed, so much so that the concept of “The New Normal” is already behind us; we are now moving into the realm of “The Next Normal”.

Sep 06 05:19

Here We Go Again

Sep 06 04:26

Straight Talk: Bear Raid

Sep 05 13:36

Obvious since 1913 — A Rogue Institution and a Clear and Present Danger to Liberty in America

It doesn’t matter why. The Fed is now a rogue institution that comprises a clear and present danger to the future of prosperity and liberty in America.

Sep 05 06:14

Iran Launches Gold-backed Cryptocurrency as Anticipation for Crypto-Rial Grows to Evade US Sanctions

A gold-backed cryptocurrency has been launched in the Islamic Republic of Iran,. The cryptocurrency known as Peyman (the Persian word for covenant) is the fruit of cooperation between four banks and Ghoghnoos Company.

The four partner banks are Parsian Bank, Bank Pasargad, Bank Melli Iran, and Bank Mellat. Iran Fara Bourse, an over-the-counter exchange, is also expected to host the new currency, Iranian English daily Financial Tribune reports.

Sep 05 05:28

Market Update: Stocks Plunge!

Sep 04 12:42

So many people; such a small door...

Sep 04 12:30

Virgin Atlantic will axe another 1,150 jobs taking total losses during covid pandemic to 4,700 amid 'quarantine roulette' chaos and demands for airport testing

It comes less than four months after axing 3,150 roles and announcing the closure of its base at London's Gatwick Airport.

The company confirmed a further 400 employees left through voluntary redundancy or early retirement.

Sep 04 11:05

Correction or Reversal? It's Here!

Sep 04 09:24

AMERICA: FREEDOM TO FASCISM - Aaron Russo

Viewing for the Labor Day weekend:

The true enemies of liberty and all modern societies and people are the central bank counterfeiters. The largest counterfeiter in the history of the world consists of the Federal Reserve banking scheme, which counterfeits American dollars through fiat currency and fractional reserve banking.

America Freedom to Fascism exposes the fraud and deceit of the Federal Reserve Banks (Fed), the Internal Revenue Service (IRS) and the 16th Amendment, the income tax, the Federal Reserve System, national ID cards (REAL ID Act), human-implanted RFID tags (Spychips), Diebold electronic voting machines, New World Order (globalization), Big Brother, taser weapons abuse, and the use of terrorism by government as a means to diminish the citizens' rights.

Sep 04 08:40

Warning Flashes As Corporate Execs Dump Most Stocks Since 2015

The S&P500 hit an all-time high price earlier this week, with a forward P/E multiple surpassing the dot com peak of 27x, printing at 27.02x. These mind-numbing valuations (before Thursday's panic sell) have been met with intense insider selling as corporate executives dump billions of dollars worth of their stock into unsuspecting Robinhood traders.

Data compiled for the Financial Times by Smart Insider shows insider selling by 1,042 chief executives, chief financial officers and company directors in Aug. was the highest dollar amount since Nov. 2015. The total number of execs disposing of their stock as valuations, in some cases, surged beyond dot com levels, was the highest since Aug. 2018.

Sep 04 07:36

Malaysia Drops Criminal Charges Against Goldman After $3.9BN 1MDB Penalty

After agreeing to pay a whopping $3.9 billion in fines and restitution, Goldman Sachs has finally been freed from one of its biggest albatrosses for its international business: Malaysian prosecutors have dropped all criminal charges in the 1MDB episode.

Sep 04 06:30

Joe Biden Announces Targeting of IRA and 401(k) Funds

He’s gone and done it now. Joe Biden is officially targeting your IRA and 401(k). If you value your retirement savings, you need to listen right now.

Sep 04 06:14

China To "Gradually" Sell 20% Of Its US Treasury Holdings, May Dump It All In Case Of "Military Conflict": State Media

Ever since the early stages of the US-China trade/tech/virus/cold war four years ago, there were frequent rumors - which eventually gave way to increasingly legitimate chatter - that China was looking to go full "nuclear option" by selling some or all of its $1+ trillion of US Treasury securities, which incidentally has not been too far off the mark: as the chart below shows, after peaking in 2013, Chinese holdings of US debt have been steadily declining (and not so steadily in the aftermath of the Chinese devaluation), and are currently near the lowest level in 8 years.

Sep 04 06:11

Wow, That Was Fast: Debt Out the Wazoo

Trillions are now whooshing by at a breath-taking pace. The US gross national debt – the total of all Treasury securities outstanding – jumped by $1 trillion over the past five weeks, from May 4 through June 8, and by $2.5 trillion for the 11 weeks since March 23.

The total US national debt outstanding has reached $26 trillion, according to the Treasury Department. I’ve been fretting about this debt on my site since 2011. In recent years, I innocently added a green upward arrow with “Debt out the wazoo” to my gross-national-debt charts, unaware that this tongue-in-cheek label would turn into a factual, data-based technical term:

Sep 04 06:10

Big Setback for the Unemployment Crisis: Week 24 of U.S. Labor Market Collapse

Continued unemployment claims jumped by 2.2 million to 29.2 million, worst since Aug 1, as claims by gig workers under federal PUA program soar. State plus federal initial claims jumped to 1.59 million “not seasonally adjusted.” 18.3% of labor force on unemployment insurance.

Sep 04 05:33

How does jay powell sleep at night

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