ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Mar 05 15:24

March 2015: HACK ETF How to Trade Volatility

Mar 05 15:16

Ukraine Bans Gold Transactions Over $125, Currency Derivatives and Interbank Purchases Exceeding $10,000

The national Bank of Ukraine has expanded the list of administrative restrictions for stabilization of the hryvnia, in particular, completely prohibiting the withdrawal of foreign dividends and limiting the purchase of foreign currency on the domestic markets.

Resolution No. 160 is effective from March 4, 2015 and is valid until June 3, 2015.

Previously, prohibitions did not target dividends on securities that are traded on stock exchanges.

The NBU has also introduced limits on the balance of banks' operations on the interbank market at the end of the day and banned financial institutions from using currency derivatives on stock exchanges.

These restrictions apply to customer's accounts over $10,000 as valued by the official rates.

Mar 05 15:02

Water Wars are Coming

Mar 05 14:40

QE Inventor: It’s EASY to Create a Full-Blown Recovery, But Central Banks Chose to Make Banksters Rich Instead of Helping Main Street

Richard Werner (economics professor at University of Southampton) is the inventor of quantitative easing (QE).

Werner previously said that QE has failed to help the economy. (Former long-time Fed chair Alan Greenspan agrees. Numerous academic studies confirm this. And see this.)

But Werner is now taking off the gloves …

Mar 05 14:33

Mainstream Financial Experts Recommend: Take Out A Loan And Invest In Stock Markets

We are very quickly approaching a top in the stock market bubble. Here's all the proof you need.

Mar 05 14:12

Walmart Workers to Earn $10 an Hour; Walmart Heirs "Earn" $445,776 an Hour

Over the last three years, strikes and pickets by Walmart’s low-wage employees have steadily expanded. Last Black Friday, protests were staged at more than 1,000 Walmart stores across the U.S. Dozens of employees were arrested.

n/a
Mar 05 13:04

A customer walked into his pizza shop and changed Philadelphia with $1 and a single Post-it note.

Owner Mason Wartman, who left his Wall Street desk job to open Rosa's Fresh Pizza, says pay-it-forward pizza started with one customer, one dollar, and one Post-it note.

The customer was inspired by an Italian coffee house practice called caffè sospeso (suspended coffee), by which customers can pre-purchase cups of coffee for less fortunate customers. Wartman wrote the purchase on a Post-it and slapped it on the wall behind the register to be redeemed by the next homeless patron to enter the store.

Since that first pay-it-forward slice, Rosa's has provided nearly 10,000 pizza slices to needy Philadelphians.

Mar 05 12:08

ECB ready to start printing money next week

E.C.B. to Begin Bond-Buying Program on Monday

Bond buying is a way for the European Central Bank to effectively print money and inject it into the economy. But confidence in the central bank’s ability to rekindle inflation could suffer if the market is so tight that it is unable to meet its goal of buying €60 billion of debt a month.

n/a
Mar 05 11:18

Global Wealth Inequality - What you never knew you never knew

Mar 05 11:01

ECB Will Cut Rates To Minus 3%: JP Morgan

Should a tail event such a deflationary spiral or Grexit occur, limits on ECB asset purchases will put Mario Draghi at a disadvantage as other central banks race to the bottom. JP Morgan says this will force the ECB to cut interest rates for cash deposits to minus 3% while the dollar will appreciate by 20%, reaching parity with euro in 2015.

n/a
Mar 05 10:47

We are Rome.

n/a

n/a
Mar 05 10:20

US tech companies have stashed over $420 billion overseas

It's no secret that the US government wants companies to bring more of their offshore profits back home for the sake of taxes, and it's now exceptionally clear as to why. Bloomberg has sifted through financial filings and discovered that the top eight American tech firms, including Apple, Google and Microsoft, are keeping more than $420 billion overseas -- $69 billion of it added in just the past year. That's over a fifth of the $2.1 trillion held abroad by American companies, and would easily cover a lot of government expenses. A tax on Microsoft's recent profits alone ($29.6 billion) would cover NASA and the Commerce Department for a year; Apple ($23.3 billion) could take care of the Transportation Department and Social Security, and Oracle could foot the bill for the Labor Department.

Mar 05 09:52

Think Like A Bear, Invest Like A Bull

Mar 05 09:24

Mr. Ponzi – Patron Saint

Mr. Ponzi was a charming con-artist who operated about a century ago in the United States and Canada. He enticed investors to contribute new money to his investment scheme (100% return in 90 days), skimmed a portion for his luxurious needs, and used the remaining money to pay off prior investors. The system worked marvelously until it collapsed and people realized that his postal reply coupon investments could not produce the profits that supposedly paid off early investors.

More recent “Ponzi” examples include Bernard Madoff as well as hundreds of others, plus the Alan Harper character in season 8 of “Two and One Half Men.” However Ponzi schemes are not limited to private investments. Governments engage in similar plans and have the advantage of declaring them legal. As with private plans, they work until they collapse, although their government granted legality increases their longevity.

Mar 05 09:16

Warren: Citigroup, Morgan Stanley, Merrill Lynch Received $6 Trillion Backdoor Bailout from Fed

“During the financial crisis, Congress bailed out the big banks with hundreds of billions of dollars in taxpayer money; and that’s a lot of money. But the biggest money for the biggest banks was never voted on by Congress. Instead, between 2007 and 2009, the Fed provided over $13 trillion in emergency lending to just a handful of large financial institutions. That’s nearly 20 times the amount authorized in the TARP bailout.

“Now, let’s be clear, those Fed loans were a bailout too. Nearly all the money went to too-big-to-fail institutions. For example, in one emergency lending program, the Fed put out $9 trillion and over two-thirds of the money went to just three institutions: Citigroup, Morgan Stanley and Merrill Lynch.

“Those loans were made available at rock bottom interest rates – in many cases under 1 percent. And the loans could be continuously rolled over so they were effectively available for an average of about two years.”

Mar 05 09:10

ADP Employment Drops, Misses; Zandi Admits "Jobs Growth Slowing"

Another day, another missed data point. ADP Employment data shows 212k jobs added in February, which modestly missed expectations of 219k and is the weakest monthly gain in 6 months. This despite a strong prior revision, pushing the January number up from 213K to 250K to catch up to the BLS runrate. Despite the miss, that showed large businesses adding by far the fewest jobs, Mark Zandi as usual remains optimistic: "jobs growth is strong but slowing," and expects the economy "will return to full employment by mid-2016."

Mar 05 09:07

"There’s Going To Be Chaos" - What Is The Worst-Case Outcome Of Today's Supreme Court Obamacare Hearing

As Bloomberg also notes, a decision against the Obama administration would wipe out the tax credits that make insurance affordable for millions of people under the law. It would also leave hospitals with billions of dollars in unpaid bills and potentially cause insurance markets to collapse.

Webmaster's Commentary: 

I predict that once again Roberts will be "persuaded" to rule in favor of the White House.

Mar 05 08:56

ISDS: The Trans-Pacific Partnership clause that everyone should be against

ISDS would allow foreign companies to challenge US laws — and potentially to pick up huge payouts from taxpayers — without ever stepping foot in a US court. Here's how it would work. Imagine that the United States bans a toxic chemical that is often added to gasoline because of its health and environmental consequences. If a foreign company that makes the toxic chemical opposes the law, it would normally have to challenge it in a US court. But with ISDS, the company could skip the US courts and go before an international panel of arbitrators. If the company won, the ruling couldn't be challenged in US courts, and the arbitration panel could require American taxpayers to cough up millions — and even billions — of dollars in damages.

Mar 05 08:37

FLASHBACK - Congress’s Obamacare Waiver

On July 30, I predicted that, even though he had no authority to do so, President Obama would waive that provision at taxpayers’ expense. On August 1, he ignobly obliged the aristocracy by decreeing we peasants give each member and staffer $5,000 or $11,000, depending on whether they want self-only or family coverage. It’s good to be king. The president’s supporters, like courtesans of old, are trying to quell a peasant uprising by denying there were any special favors. The denials ring hollow.

Mar 05 08:28

WSJ - Negative Interest Rates Yield Positive Results—So Far

Webmaster's Commentary: 

... for the banks!

Mar 05 08:16

IMF’s Director Batista: Greek bailout was ‘to save German & French banks’

‘This was never said officially before! “They gave money to save German and French banks, not Greece,” Paolo Batista, one of the Executive Directors of International Monetary Fund told Greek private Alpha TV on Tuesday. Batista strongly criticized not only the euro zone and the European Central Bank but also the IMF and the Fund’s managing Director Christine Lagarde for defending Europe much too much..

He urged Greece to directly negotiate with the IMF and favored the restructuring of the Greek debt that is been hold by the European partners.’

Mar 05 07:56

Bank doors closed-Bail ins (depositer plunder) in Ukraine? Default?

It certainly appears that the Ukrainian banks are pilfering the peoples savings in a 'bail in' type scenario

Webmaster's Commentary: 

Now we know why Bloomberg is out there saying the west (meaning the US taxpayer) owes Ukraine a bailout. If Ukraine defaults, there will be a derivatives crisis.

Mar 05 07:46

Europe to start €1.14trn ‘easy money’ program on March 9 - ECB President

The European Central Bank will kick off its monthly €60 billion purchases of government bonds and private sector assets next Monday, said the head of the ECB Mario Draghi.

Webmaster's Commentary: 

Because after all, look how well it worked in the US!

Mar 05 07:43

New York telemarketers keep more than half money raised for charity – report

For-profit telemarketing companies based in New York retained 52 percent of the funds they raised on behalf of charities in 2013, according to a new report released by the state’s attorney general.

Mar 05 07:42

ECB Will Cut Rates To Minus 3%: JP Morgan

...the ECB is now close to running out of ammunition. The true constraints on further ECB intervention lie in the 25 per cent issue limit and 33 per cent issuer limit on its sovereign bond purchases.

Except for Greek debt, the 25 per cent and 33 per cent caps should not prove binding in a scenario where the ECB keeps its monthly asset purchase pace of €60bn. However, the limits could be reached in worst-case scenarios where the ECB would have to boost the size of its QE programme or implement OMTs targeted on specific sovereigns.

Mar 05 07:38

Anti-austerity protest held in Cyprus

Several thousand Cypriots have staged a protest rally in the capital, calling on the government to end austerity policies they say have driven many in the bailed-out country to poverty.

Webmaster's Commentary: 

Austerity: Steal from the poor to give to the rich!

Mar 05 06:46

Costco Treads on Thin Ice

This winter would seem even worse but for one thing: memories of last winter. The same goes for earnings day at Costco Wholesale Corp.

The warehouse-retailing giant is likely to say Thursday that revenue growth slowed in its fiscal second quarter ended Feb. 15. When the same thing happened a year ago, the stock had its worst postresults drop since the quarter when Lehman Brothers Holdings Inc. collapsed.

Mar 05 06:01

Homeland Security Bill Includes $13M in 'Jewish Earmarks'

Funding for the Department of Homeland Security passed by Congress Tuesday includes $13 million for security at religious and other nonprofit institutions.

The Orthodox Union, Jewish Federations of North America and Agudath Israel of America applauded the passage of the funding bill, which still needs to be signed into law by President Barack Obama. The three organizations had spearheaded efforts to get the funding for religious and nonprofit institutions approved.

Mar 04 23:46

10 things McDonald’s won’t tell you

n/a

n/a

n/a
Mar 04 18:42

Why Oil Will Be Rangebound For The Time Being

n/a
Mar 04 18:10

How bad was the financial crisis, really?

Mar 04 17:46

Moneytree leads push to loosen state’s payday-lending law

Washington’s payday lenders have lost three-quarters of their business in the five years since a tough new state law restricting the high-cost loans marketed to poor families took effect.

Now the industry, led by Seattle-based Moneytree, is lobbying state lawmakers to revamp the law. Lenders are backing legislation to eliminate traditional two-week payday loans and replace them with “installment loans” that would stretch repayment out for up to a year.

Mar 04 17:39

IMF Director Admits: Greek Bailout Was "To Save German & French Banks"

For the first time in public, though practically the entire world assumed it, an official from The IMF has admitted that the various Greek bailouts were not for The Greeks at all... "They gave money to save German and French banks, not Greece,” Paolo Batista, one of the Executive Directors of International Monetary Fund told Greek private Alpha TV on Tuesday. As KeepTalkingGreece reports, Batista then went on to strongly criticized not only the euro zone and the European Central Bank but also the IMF and the Fund’s managing Director Christine Lagarde for defending Europe much too much...

Mar 04 17:29

Rate Hike Expectations Fed Funds at Year End

n/a
Mar 04 17:13

US Dollar and Stock Markets in 2015

Mar 04 15:42

War in Ukraine: Price Tag is Measured in Billions of Dollars

It has become clear that the United States and Europe are divided on Ukraine. Germany and France have chosen the policy of supporting «the victorious Ukrainian revolution» by non-military means to prevent the risk of conflict spillover. The peaceful stabilization of the regime led by Poroshenko meets their long-term interests as they seek to move Ukraine out of Russia's sphere of influence. They have applied time and effort to prevent Kiev from sliding down to military debacle. These countries will do their best to reduce the status of Luhansk and Donetsk people’s republics as the efforts aimed at reaching peaceful settlement of crisis are underway.

Mar 04 15:35

Ukraine Jacks up Interest Rate to 30%

Ukraine has sharply raised its benchmark refinancing rate by 10.5 percentage points to 30 per cent, in a desperate move to temper spiralling inflation and halt its sinking currency.

Mar 04 15:31

I MISSED THE LIST BY THAT MUCH

Mar 04 15:30

Recession is getting worse, not better, says Irish homeless charity

The recession is not ending — it is getting worse, according to one of the biggest providers of hot meals for homeless people in Dublin.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA