ECONOMY | WHAT REALLY HAPPENED

ECONOMY

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

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Mar 04 18:42

Why Oil Will Be Rangebound For The Time Being

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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

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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.

Mar 04 14:56

Amid Media Blackout, Canada Lawsuit Challenges Banker Rule

According to American monetary-reform author and filmmaker Bill Still—and Canadian activists with whom AFP has been in contact—Canada’s mainstream media has been suppressing news that the three-judge panel on Jan. 26 ruled in favor of plaintiffs who filed suit to restore the Bank of Canada to its time-tested mandate of issuing debt-free money in the public interest.

Reporting on his online news-site which covers monetary reform, Mr. Still remarked: “The [Canadian] government has ordered the mainstream media not to cover this.”

The ruling gives plaintiffs William Krehm and Ann Emmett of COMER, or the Committee for Monetary and Economic Reform, represented by attorney Rocco Galati, the ability to move forward toward trial. The Crown can appeal once more to Canada’s Supreme Court.

Mar 04 14:55

Canadians Sued The Bank Of Canada & Won. Mainstream Media & Government Blacks Out Story

Recently, constitutional lawyer Rocco Galati won yet another round of appeals set forth by the Bank of Canada in a case involving two Canadians who filed an action in federal court to restore The Bank of Canada to its original purpose and operations. This is a very significant story but you probably haven’t heard of it. Why? The mainstream media and government have blacked out the story for reasons that appear to stem from fear of how the public will react to realizing they’ve been systematically enslaved for decades.

Mar 04 14:44

Warren Buffett – Lucky Coin Flipper?

Mar 04 13:57

The Chinese have put out billboard ads announcing the renminbi as the new world currency

When I arrived to Bangkok the other day, coming down the motorway from the airport I saw a huge billboard—and it floored me.

The billboard was from the Bank of China. It said: “RMB: New Choice; The World Currency”

Webmaster's Commentary: 

"NUKE 'EM! NUKE 'EM! NUKE 'EM!" -- Official White Horse Souse

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Mar 04 12:16

Wealth of world’s billionaires surges past $7 trillion

The combined net worth of the world’s billionaires has reached a new high in 2015 of $7.05 trillion, according to the latest compilation published by Forbes magazine on Monday.

WEBMASTER ADDITION: Nonsense. The Rothschilds alone are estimated to be worth $14 trillion.

Mar 04 11:03

Affidavit: First IRS Tech to Inspect Lois Lerner Hard Drive Was Blind

IRS officials initially claimed Lerner’s hard drive was irreparably damaged before it was destroyed in 2011.

But last year, investigators with the House Ways and Means Committee interviewed IRS technical experts who said the hard drive was merely scratched and not irreparable, The Hill has reported.

"The Committee was told no data was recoverable and the physical drive was recycled and potentially shredded," then-Ways and Means Committee Chairman Rep. Dave Camp said just days after Manning’s July 18 affidavit was filed, according to the Daily Caller.

"To now learn that the hard drive was only scratched, yet the IRS refused to utilize outside experts to recover the data, raises more questions about potential criminal wrong doing at the IRS."

Mar 04 10:36

The Price of Oil Is About to Blow a Hole in U.S. Corporate Accounting

There’s one place in the world where oil is still $95 a barrel.

On paper.

Mar 04 10:32

No, Obama, Russia’s economy isn’t in tatters

Western politicians and pundits should be more careful with their predictions for the Russian economy: Reports of its demise may prove to be premature.

Mar 04 09:10

5 Reasons Why Ukraine is Becoming Europe's Zimbabwe

As the Ukrainian National Bank introduces new capital controls, this time for businesses, and raises interest rates, the country's economy slides into Zimbabwe-grade hyperinflation, as measured by the Cato Institute. There are five main reasons why.

Although the study explains disconnects in Ukrainian statistics, there are more reasons to use the Zimbabwe methodology than just high inflation, as Ukraine enacts more measures to pursue the same path.

Webmaster's Commentary: 

The ECB's imposed "austerity" is going to cause capital and human flight from Ukraine, not to mention further misery for the Ukrainian people.

IF the government is dead broke, which it is, there is a real question about how long Poroshenko can actually cling to power; and ultimately, without huge injections of foreign capital, the government in Kiev cannot continue to survive.

Mar 04 08:44

TARGET TO LAY OFF THOUSANDS

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Mar 04 07:38

Azerbaijan should be very afraid of Nuland

The US’ Assistant Secretary of State for European and Eurasian Affairs, Victoria Nuland, visited Baku on 16 February as part of her trip to the Caucasus, which also saw her paying stops in Georgia and Armenia. While Azerbaijan has had positive relations with the US since independence, they’ve lately been complicated by Washington’s ‘pro-democracy’ rhetoric and subversive actions in the country. Nuland’s visit, despite her warm words of friendship, must be look at with maximum suspicion, since it’s not known what larger ulterior motives she represents on behalf of the US government.

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Mar 04 07:34

France wants companies to make appliances that last longer

France is ordering manufacturers to inform consumers how long they can expect their TV, cell phone or other appliance to last — before they buy it.

A new French government decree that came into effect this week aims at fighting so-called planned obsolescence. That is when companies design strategies to limit the life span of appliances, so that consumers will have to replace them.

The measure requires manufacturers to inform vendors how long spare parts for an appliance will continue to be produced. The vendor is then required to inform the buyer, in writing. Violators face up to 15,000 euros ($16,800) in fines.

Webmaster's Commentary: 

We need that here in the US. We won't get it, of course, while this nation remains a fascist economic dictatorship, but we do need it here!

Mar 03 20:02

Apple may soon hold world market with new gold smartwatch; “24 million troy ounces” yearly to produce: Report

| 30% of world's gold market to be held by Apple for production of new smartwatch, says report

Mar 03 19:38

Congress: Mummies R Us Karen De Coster

snip: The multi-millionaires in congress are destroying life and freedom through a governing body that lords it over all of us. Politics, by definition, is coercion, and still, no matter how much people – voters – learn about the establishment and its reason for existence, they sanction it. They sanction it each time they concede to the government’s arbitrary decrees and go along with its mandates. And especially, the masses consent to total control and tyranny each time they vote for any one of these swines. These monsters, who have been given extraordinary powers to rule, have become so accustomed to ramping up their powers and stomping their legislative jack boots down on our heads that they are not the slightest bit tolerant of resistance. They loathe your disobedience, your verbal challenges, your hostility to their supremacy.

Nancy Pelosi, the repulsive, arrogant she-devil that she is, once likened the middle class resistance to her socialist-fascist agenda as an “astroturf” movement. That happened when she didn’t like the swastikas stuck in her face as she tried to ram her perverted health care plan down our collective throats. In fact, the Dems are certain that there is no real resistance at all. They believe it’s just a big setup, with the Republican Party hiring stand-ins to show up and to protest. The term used to describe the resistance is “manufactured outrage.”

Mar 03 19:15

Impotent Western Sanctions Fail To Disrupt Russian Energy Exports

Energy exports from Russia, in the form of coal, oil, natural gas and uranium, continue to flow unimpeded, despite Western efforts to damage the Russian economy for interfering in Ukraine.

In some ways, the sanctions have had the desired effect. But in others, notably the energy trade, they have failed, and in fact it could be argued they have backfired, by hurting the businesses that do business with Russia. Moreover, the sanctions have further isolated Russia from Europe and drawn it closer to alternative energy partners, namely Turkey and China.

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