ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 16 14:15

How Bankers Became The Top Exploiters Of The Economy

The Next System Project’s Adam Simpson sat down with renowned economist and economic historian Michael Hudson to discuss economic deceptions old and new in the interview below. Michael Hudson is Distinguished Research Professor of Economics at the University of Missouri, Kansas City and a prolific writer about the global economy and predatory financial practices.

Mar 16 14:10

The Federal Reserve Just Declared the American Dream Is Officially Dead for Most of America

We all know what comedian George Carlin said about the American Dream: that you have to be asleep to believe it.

Well, now the Federal Reserve is agreeing with him.

Mar 16 11:57

Markets Priced for Perfection, Sentiment Ahead of Actual Growth

Market expectations have driven stock prices to new highs, but with sentiment so extreme, many are wondering if this move is sustainable.

Mar 16 11:56

Greece: A Democracy In Crisis

The Greek people have just about reached the limits of their strength. The economic situation is tragic. Illegal immigration is out of control, criminality increases day by day. The political system is steeped in corruption and the media have stopped being the communication channel between citizens and the political system. The Greek media are functioning as the praetorian guard of the euro; they favor the massive admission of Muslim populations into Greece and they fiercely attack every voice that disagrees with them.

Bishop Ambrossios is urging people to revolt. He characterizes the illegal Muslim immigrants entering the country as conquerors. He also says that Christianity is under attack in Greece, while Islam is being daily reinforced. He says that Greek Orthodox churches are being desecrated, robbed and burned by Muslim immigrants while the state just sits by and looks on.

Webmaster's Commentary: 

The Greek people are in IMF debt slavery through no fault of their own; they were placed there, through a complex swindle by Goldman Sachs. As reported at the sandiegofreepress.com in May of 2015:

It all started when Goldman Sachs assisted Greece in lying their way into the Eurozone in the first place. They really didn’t qualify for admission but Goldman hid that small detail under a heap of trompe l’oeil, sleight of hand and financial shananigans that got past the critical eyes of the European ministers. They manufactured a highly questionable derivative scheme involving a currency swap that used artificially high exchange rates to conceal Greek debt. Goldman then turned around and hedged its bets by shorting Greek debt just as they had done with the mortgage crisis in the US. Predictably, these derivative bets went very wrong for the less sophisticated of the two players, namely, Greece. A 2.8 billion loan to Greece in 2001 became a 5.1 billion debt by 2005. In the US mortgage fiasco they packaged subprime loans in portfolios, after having loaned money to people with questionable ability to pay back the loans, and then bet that they would default. Goldman made tons of money that way. Now this operation on the part of Goldman should come as no surprise to those familiar with Goldman’s shenanigans leading up to the debt crisis of 2008 in which they packaged a bunch of mortgages that were designed to fail into collateralized debt obligations, sold them off to unsuspecting investors and then turned around and placed bets against them. Such a deal was the Abacus fund designed by John Paulson who made billions on it. The American government then bailed out the too big to fail Wall Street banks while leaving the underwater mortgagees to dangle from a fiscal rope. They did the same thing with Greece. They loaned Greece big bucks for its 2004 Olympic Games. Greece also borrowed a lot of money for its military. In retrospect it was foolish of Greece to borrow all this money. It never got a return on its investment from the Olympic games which it thought would encourage tourism. The Olympic site essentially became a heap of trash and rubble.

What the Greek government should do is declare the debt odious, wipe it off the books, as did Iceland, and throw the existing politicians and bankers who signed off on this monstrosity in jail, and NOT the Greek version of the US's "Club Fed".

At this point, the Greek people may well be ripe for revolution against a governmental body in bed with corporations and banksters, the members of which have absolutely no regard for the immense suffering they have caused the Greek people, through the imposition of extreme austerity.

And also, at zerohedge.com, we see the following, and very disturbing, article related to Greece:

Explosives Mailed To German Finance Minister Were Sent By Militant Greek Group

Unfortunately, until things get very much better for the Greeks and Greek economy, we may continue to see acts like this happen.

As a Christian Pacifist Activist, I can never advocate physical violence; but I can see why it sometimes happens.

Mar 16 10:34

Startled Reporter Asks Why Yellen Hiked With GDP And Real Wages Sliding: Here Is The Response

Today's FOMC press conference was the standard affair. Reporters ask broad questions, Yellen responds with even broader comments that amble aimlessly leaving no one any wiser as to The Fed's true intent. That is, until Bloomberg TV's Kathleen Hays decided enough was enough, and wanted to get to the bottom of just why a "data-dependent" Fed is hiking in a world in which economic data is rapidly deteriorating.

Mar 16 10:33

China Is Again Selling US Treasuries As Foreign Central Banks Liquidate $45BN

After December's brief dead cat bounce, in which foreign central banks bought $18.6 billion in US Treasuries, breaking a streak of 12 consecutive months of selling, in January they resumed their liquidation. According to the just released TIC data, foreign official institutions, which includes mostly central banks, but also sovereign wealth funds and various other official entities, sold another $44.9 billion in Treasuries, in line with the aggressive selling seen for most of 2016.

Mar 16 10:21

New York Times runs cover for the Federal Reserve after Trump considers targeting central bankers

In a possible sign of things to come, the New York Times recently published a piece in which the establishment cites its worry that the private Federal Reserve could soon be targeted by the populist wave that elected Donald Trump.

Mar 16 09:25

MORE EQUAL THAN OTHERS: California Mulls Exempting Teachers From Income Tax

State legislators in California are contemplating a new law which, if passed, would allow public school teachers to avoid paying any state income tax whatsoever.

A pair of Democrats, Sen. Cathleen Galgiani of Stockton and Sen. Henry Stern of Los Angeles, introduced the bill in February to address a shortage of teachers in the Golden State, reports The Sacramento Bee.

Mar 16 09:24

Feds Hit Debt Limit—Again; Debt Now Exceeds Limit Set in 2008 by $8,550,505,000,000

When the debt hits the limit and Congress and the president do not immediately enact new legislation to increase it or suspend it, the Treasury typically engages in what it calls “extraordinary measures” to keep the debt at a constant level just below the debt ceiling.

In 2015, for example, as reported on the Daily Treasury Statements, the Treasury froze the debt at $18,112,975,000,000 for 235 days--from March 13, 2015 until the Bipartisan Budget Act suspended the debt limit on Nov. 2, 2015.

Webmaster's Commentary: 

Mar 16 08:55

See Where Immigrants Out-earn U.S. Born Citizens

America is a nation built by immigrants, and on the premise that anyone can make it to the top. While that may be true, most new arrivals find themselves starting at the bottom of the pile.

Mar 16 08:53

Nasdaq Traders Have Never Been More Comfortable

Volatility expectations on the Nasdaq are at an all-time low.

Mar 16 08:40

PREET BHARARA EXPLAINS WHY HE LET WALL STREET BANK EXECUTIVES AVOID PRISON

Recently dismissed U.S. Attorney for the Southern District of New York, Preet Bharara, is suddenly being celebrated as an aggressive warrior in the fight against Wall Street corruption. Really? You could’ve fooled me. Perhaps I was in a coma when a string of big bank executives were arrested and sent to prison.

No, what actually happened is one of the most powerful attorneys in the nation came up with a mealy-mouthed, cowardly rationale for why he let these financial thieves off the hook.

Crain’s reports:

Bharara was nowhere to be found when it came to charging the top executives whose actions led to the collapse of Lehman Brothers, Merrill Lynch and AIG, and who made all manner of misleading statements to cover up how sick their firms were. Goldman Sachs executives sold institutional investors a mortgage-backed security that sales staffers described as “one shitty deal.” Where was Bharara when it mattered most?

Webmaster's Commentary: 

Absoflippinglutely unbelievable.

I have to wonder if - and what - Bahara received as "incentives" for not prosecuting in these cases.

Mar 16 08:33

EXPLOSION AFTER ENVELOPE OPENED AT IMF OFFICES IN PARIS, 1 INJURED – POLICE SOURCES

An envelope exploded after being opened at the offices of the International Monetary Fund (IMF) in Paris on Thursday, according to media citing police sources. One person is reported injured.

The IMF building has not been damaged, French broadcaster BFM TV reported, adding that police are on site.

A police operation is underway, law enforcers said in a statement, adding that one person was left injured by a suspicious package with explosives inside.

Webmaster's Commentary: 

The question is, here, cui bono?!?

Who benefits?!?

Was this done, perhaps, to build "sympathy" for a tone-deaf and blind organisation, which does not care, or understand, what hardship it places on the people of member countries?!?

At the moment, a true motive cannot be established, and no group has claimed responsibility.

Mar 16 08:28

Trump Nominates Another Goldman Banker For Key Treasury Position

Not good!

In the latest creeping takeover by Goldman Sachs of the White House, overnight the White House announced that Donald Trump will nominate another Goldman Sachs banker, James Donovan, for a key financial post as deputy Treasury secretary, the White House said on Tuesday, adding another alumnus of the Wall Street investment bank to his administration. Donovan joins his former peers, Treasury Secretary Steven Mnuchin and chief Economic advisor, Gary Cohn, who are also former Goldman executives who occupy senior economic posts within the administration.

Mar 16 08:26

Podcast: Inflation + Populism = Soaring Gold

Inflation is back, thanks to the past few years’ exuberant borrowing and currency creation. Meanwhile, populist politicians are gaining traction in Europe, threatening both the European Union and the eurozone.

Mar 16 08:01

Death, Debt, Devaluation and Taxes

Since 1913 debt has been a necessity for bankers, governments, and businesses. More debt = more currency in circulation = higher prices, including gold and silver.

There is practically no chance that debt will stabilize or decrease. Consider total U. S. government debt in 1972 (roughly $400 billion) versus today (roughly $20,000 billion = $20 trillion).

Mar 16 07:59

IT BEGINS…. Idaho & Arizona Pass Bills To Remove “Capital Gains Taxes” On Gold & Silver

In just the past week, lawmakers in Idaho and Arizona have passed bills removing “Capital Gains Taxes” from gold and silver coins and bars. Normally, when individuals sell gold or silver, they must pay capital gains on any increase on the value of their precious metals investments. However, gold and silver are really not investments per say, rather they perform as real money.

Mar 16 07:20

Will mid-March madness maul the stock market?

Many of the 2017 economic headwinds I’ve described will hit during the Ides of March, just as the Trump stock-market Rally shows signs of topping out. This might not be the Great Epocalypse — not all at once anyway — but a large and likely correction is looming. I think the bear is about to be let out of his cage.

Mar 16 02:24

12 Reasons Why The Federal Reserve May Have Just Made The Biggest Economic Mistake Since The Last Financial Crisis

Has the Federal Reserve gone completely insane? On Wednesday, the Fed raised interest rates for the second time in three months, and it signaled that more rate hikes are coming in the months ahead. When the Federal Reserve lowers interest rates, it becomes less expensive to borrow money and that tends to stimulate more economic activity.

Mar 15 18:53

Can YOU see the tiny camera hidden in this cash machine? Fraudsters record bank customers' pin numbers through a hole the size of a PINHEAD

To the untrained eye, this looks just like any of the millions of cash machines people use every day to access their money.

But a tiny, pinhead-sized hole in the plastic casing hides a chilling secret which shows just how advanced identity fraudsters have now become.

Police investigating cashpoint tampering discovered the hole meant a tiny camera, which was hidden inside a false cover to the cash dispensing slot, could record the victim putting in their pin number.

Mar 15 18:10

Collapsing Pensions Are “About to Bring Hell to America”

long with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all.

Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public.

With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially.

Somewhere between the retiree that needs clothing, food and lodging, and the bankruptcy of cities and state governments is the makings of the next economic crisis.

via AgainstCronyCapitalism.org:

This is one of those things that few will pay attention to until it’s a 5 alarm fire. Then the policymakers will run around with their hands in the air saying they didn’t see it coming.

Webmaster's Commentary: 

Absoflippinglutely unbelievable, that these pensions were not better guarded from the bad investments which ultimately have already destroyed some of these pensions.

Where was the oversight, which should have prevented this?!?

State officials who allowed this should be tried, and jailed, if convicted!!

Mar 15 18:09

Collapsing Pensions Are “About to Bring Hell to America”

long with the student loan debt bubble and other major financial factors, the looming pensions crisis is bound to be the death of us all.

Because it’s based on a future promise to pay, it has long been a benefit dangled to solve strikes and union disputes – because, in the end, it is just more debt, whether private or public.

With tens of trillions in unfunded liabilities, the weight of an avalanche remains dangling over our heads. An aging population is cashing in on needed retirement benefits while the younger generations must support multiples that are unsustainable financially.

Somewhere between the retiree that needs clothing, food and lodging, and the bankruptcy of cities and state governments is the makings of the next economic crisis.

via AgainstCronyCapitalism.org:

This is one of those things that few will pay attention to until it’s a 5 alarm fire. Then the policymakers will run around with their hands in the air saying they didn’t see it coming.

Webmaster's Commentary: 

Absoflippinglutely unbelievable, that these pensions were not better guarded from the bad investments which ultimately have already destroyed some of these pensions.

Where was the oversight, which should have prevented this?!?

State officials who allowed this should be tried, and jailed, if convicted!!

Mar 15 15:31

Millennials selling their possessions to pay for food – survey

New figures show people born after 1983 are more likely to have borrowed money from friends and family or sold their possessions in order to pay their bills.

A survey by broker Norton Finance has revealed that over a third of 18 to 34-year-olds are going without food and heating, as stalling salaries and rising living costs turn making-ends-meet into a nightmare for young people.

Mar 15 15:05

Feeding the war machine: ‘Washington will lift debt ceiling to intervene in more countries’

The Democrats are going to vote against raising the debt ceiling, but enough Republicans are going to vote for it. They shouldn’t raise the debt ceiling, but they will, explains Lew Rockwell, editor of LewRockwell.com.

The US Congress is expected to vote to raise the debt ceiling, prompting a possible stand-off between the parties which could end in a government shutdown.

Mar 15 14:53

Could malls spark the next debt crisis?

Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall.

It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much the way many homeowners did nearly a decade ago.

Mar 15 12:45

Another way globalism is destroying America

Globalism is the ultimate form of collectivism. Globalists know that the more dependent we are, the easier we are controlled.

Mar 15 12:22

This Nobel Laureate Considers The Market As Highly Overpriced – A Worrisome Sign For The Trump Rally

Why are traders so obsessed with the upsides of a Trump presidency when the downside risks seem just as big?

Mar 15 10:21

London Trading Could Be Driven By Advance Inside Knowledge Of Official Data – Report

An analysis of official trading data suggests some London-based investors may be trading with advanced knowledge of sensitive economic reports before they are released to public.

A report prepared for the Wall Street Journal (WSJ) by Alexander Kurov, an associate professor of finance at West Virginia University, suggests City investors trade using the confidential economic data in breach of regulations.

Mar 15 10:16

Report: Trump Moving Against Obama's Stupid Fuel Efficiency Rules

President Trump is reportedly moving to scrap Obama's stupid fuel efficiency rules which pretty much mandate everyone drive a Prius.

Mar 15 09:44

Student loan defaults skyrocket by 17 per cent as 4.2 million borrowers face financial disaster after pursuing a college degree

A new analysis of government data by the Consumer Federation of America (CFA) found that the number of Americans in default on their student loans jumped by nearly 17 per cent last year.

As of the end of 2016, there were 4.2 million Federal Direct Loan borrowers in default, meaning they've not made a payment in more than 270 days. That's up from 3.6 million at the end of 2015.

Mar 15 09:40

"Something Snapped": US Department Store Sales Crash Most On Record

As we first documented last week in "Mega-Bears Smell Blood As Mall REITs Tumble" and as Bloomberg followed up yesterday, looking at CMBS on the Mall REIT space, many have set their sights on mall REITs as the "next big short." However, an obvious question that has emerged is whether it is too late to go all in on this particular short, or whether as some have suggested, the bottom is in. “The short feels crowded to us,” said Matthew Weinstein, principal at Axonic Capital, a hedge fund that specializes in structured products. “If these defaults start happening soon, the short will work, but if the defaults do not occur quickly, the first guy out could drive the market meaningfully higher.”

Mar 15 09:29

THERE IS NO MONEY - "FREEDOM FROM FICTION"

For as long as we have been using FRN, there has been no real money to actually be able to pay for anything.

Mar 15 09:29

Natural Gas Prices Could Plunge Below $2

So far this year, natural gas has performed the worst among major commodities, posting painful losses in January and February. It has rebounded somewhat in the last few weeks, but hovering around $3 per MMBtu, gas prices are still sharply lower compared to the fourth quarter.

Changes in seasonal temperatures are a pivotal factor for natural gas markets, and warmer winters mean weaker demand. Natural gas consumption spikes during winter months as millions of people crank up the heat, while consumption patterns descend into valleys in the spring and fall, with a smaller peak in the summer. A bout of warm weather during winter can upend gas demand forecasts.

Mar 15 09:24

“The Powers That Be Have Looted Everything.” Greek Farmers Fight Riot Police With Shepherd Crooks

The economic and social disintegration of Greece used to be big news. However it’s largely been overshadowed by the migrant crisis, and the American media hardly reports on Greece anymore. If you’ve been out of the loop, allow me to get you caught up on the financial situation in that country, by giving two answers to the questions you’re probably thinking. Yes, the Greek government still sucks. And yes, the people of Greece are still really pissed off.

Believe it or not, riots are still a common occurrence in that country. In fact there was an incident last week in Athens, after the government tried to increase taxes and social security contributions. In response, over a thousand farmers from Crete, who used to be immune from these taxes, took a ferry to Athens and proceeded to riot outside of the agriculture ministry building.

This however wasn’t an ordinary riot, not even by Greek standards. The farmers fought the riot police with shepherd crooks.

Mar 15 08:25

Canadian Media Ignoring Titanic Lawsuit vs. Bank of Canada

In early August 2013, two Canadians and COMER “confronted the global financial powers in the Canadian federal court.” They have filed a case against Bank of Canada earlier in 2011, in an effort to return the central bank to the people of Canada by printing its own debt-free currency like it was before 1974.

“COMER contends the Bank of Canada, a publicly owned national financial institution created in the Great Depression, is mandated to provide debt-free support for public projects undertaken by federal, provincial and city governments. Not doing so has deprived Canadians of the benefits of larger infrastructure investments, COMER alleges.

Mar 15 08:00

Swiss bank deems Le Pen 'biggest risk' to Europe

France's Marine Le Pen is the biggest risk to European stability, Credit Suisse said in a guide launched on Thursday to help investors navigate the upcoming "defining" months facing the continent.

Webmaster's Commentary: 

Another reminder that the bankers are supporting globalism because they dream of enslaving the entire human race to a single private central bank!

Mar 15 07:47

The Trump Boom: Small Business Optimism Remains Near Record High

Small business optimism, which soared following Donald Trump’s election day victory, remains near the highest levels recorded in nearly half a century.

The Index of Small Business Optimism declined slightly in February to hit 105.3, sustaining the surge in optimism that began November 9, 2016, the day after the election, the National Federation of Independent Businesses said Tuesday.

Mar 15 07:43

Just weeks after Oroville Dam crisis, damage found in another key California reservoir

California water officials, still struggling with fixes at Oroville Dam, will have to temporarily shut down the pumping station that delivers water to much of Southern California and Silicon Valley after discovering damage at another key state reservoir.

The state Department of Water Resources confirmed Tuesday that operators discovered damage to the intake structure at the Clifton Court Forebay, a nearly two-mile-wide reservoir that stores water for the State Water Project pumping plant in the Sacramento-San Joaquin Delta near Tracy. Repairs will begin Wednesday. It’s not clear how long they will last.

Mar 15 07:37

Trump Faces PAC Ultimatum To End DACA Amnesty For Illegals

(Raleigh, NC) Americans for Legal Immigration PAC is issuing an ultimatum to President Donald Trump to honor his campaign promise to end his and Obama's DACA Amnesty orders or the national organization will rescind its standing endorsement for Trump originally issued on February 29, 2016.

If Trump does not end his DACA Amnesty for illegals without replacement by Tax Day (April 17), 2017, the loss of ALIPAC's support and endorsement will signal the immigration enforcement movement, Tea Party movement, and American public that Trump can't be trusted on the powerful campaign issue that made his victory over Bush and Clinton possible.

ALIPAC is also launching a national outreach campaign to locate, organize, and mobilize American activists who are willing to stand up and hold Trump accountable for his campaign promises on immigration law enforcement while fighting legislative amnesty in Congress at the same time.

Mar 15 07:23

What’s next with America’s enormous $20T debt?

Thousands of years ago, as far back as 3000 BC, the ancient Egyptians had developed a highly advanced system of writing using hieroglyphic symbols.

The used hieroglyphs for numbers as well.

Mar 15 07:12

'We are all doing it': Employees at Canada's 5 big banks speak out about pressure to dupe customers

Employees from all five of Canada's big banks have flooded Go Public with stories of how they feel pressured to upsell, trick and even lie to customers to meet unrealistic sales targets and keep their jobs.

The deluge is fuelling multiple calls for a parliamentary inquiry, even as the banks claim they're acting in customers' best interests.

Webmaster's Commentary: 

Canada's money-junkies are on full display!

Mar 15 07:06

Fed Day Arrives

Metals traders remain somewhat defensive ahead of the FOMC announcement today. A rate increase is fully expected but if by any chance the Fed decides to wait, the upside could be explosive. If the Fed surprises and raises by more than 25 bips, look out below. Betting on the percentage, however, suggests the Fed moves 25 bips, with an initial downward draft but possibly followed by a reversal, as traders have sold the rumor and buy the fact.

Mar 15 06:23

COLLAPSING PENSIONS WILL FUEL AMERICA’S NEXT FINANCIAL CRISIS

One of the main reasons California in all its anti-Trump rage isn’t going anywhere anytime soon is because the state knows that it has a massive government employee pension problem and that it will one day have to call on the rest of the United States to “solve” (bailout) this problem for them. Watch. But the rest of the country isn’t in great shape either.

Mar 14 19:20

Our Choice: Government Medical Care vs. Freedom

By Scott Lazarowitz

It should be of no surprise that establishment Republicans in Congress are rearranging the deck chairs from ObamaCare to “ObamaCare Lite,” in their saving the Affordable Care Act (ACA) from being fully repealed.

But conservative opponents, such as Senators Rand Paul and Mike Lee, who want ObamaCare fully repealed, are still not going far enough.

The problem is that other government entitlement schemes are interconnected with ObamaCare, and avoiding the “pain” of change would require repealing the other schemes. After all, the reason why medical care has gotten so expensive is because of government interventions, which distort decision-making by medical care providers, drug makers and patients, and drives up the prices...

Mar 14 17:09

Brexit Drains Swamp in London, Creatures Head to Luxembourg

Tax planning for a post-Brexit world.

Mar 14 14:47

IS STAGFLATION STALKING? The Answer Is Critical To Your Financial Health!

It is important to anticipate whether Stagflation is stalking because the yield curve will start pricing it in which will place equity yields, earnings and PE growth multiples at risk.

Mar 14 14:00

Who got rich off the student debt crisis

A generation ago, Congress privatized a student loan program intended to give more Americans access to higher education.

In its place, lawmakers created another profit center for Wall Street and a system of college finance that has fed the nation’s cycle of inequality. Step by step, Congress has enacted one law after another to make student debt the worst kind of debt for Americans – and the best kind for banks and debt collectors.

Today, just about everyone involved in the student loan industry makes money off students – the banks, private investors, even the federal government.

Mar 14 13:56

The Elite Are Prepped And Prepared For The Economic Crisis

Bank loans decline rapidly in the US. The creditors in the US have decided to adjust credit scores which allow bad credit individuals to get loans.

Mar 14 13:18

Who Controls the Money Controls the World

History will repeat itself as long as these bankers and their corrupt politicians are in charge. Save yourself from the upcoming economic collapse of 2012. Please share this important knowledge with your family and take action.

Mar 14 12:52

China Initiative Wants To Help Trump's 2026 U.S.A. Vision; British Intelligence Wants To Impeach or Kill Him

Interesting considering the recent revelation that Obama had the Brits spying on Trump.

If the growing number of reports that Donald Trump and Xi Jinping will meet in Florida next month are true, the way is open for President Trump to collaborate with China's global growth and progress driver -- the so-called New Silk Road or Belt and Road Initiative -- as Barack Obama refused to do. The horizon goals Trump set out for America's "250th Anniversary" in 2026 -- peace with nations including our current "adversaries," a renewed modern economic infrastructure, "our footsteps on distant worlds" -- would then have far better prospect of being reached. Those goals are not on the leadership's agenda of either of the United States' warring political parties.

Mar 14 12:06

MARCH 15TH: ROTHSCHILD, DEBT CEILING & DEMISE OF THE DOLLAR

March 15th is an important date. The US debt ceiling is about to be reached.

Mar 14 11:59

AFTER INSULTING TRUMP AND AMERICA, LOOK WHAT INSANE THING IS HAPPENING TO STARBUCKS…

Starbucks’ is stuck in the mud. They vowed to hire thousands of refugees in order to protest President Donald Trump’s first travel ban. It turns out that it is hurting the coffee chain, according to financial analysts.

Mar 14 11:54

Your money is on fire

Years of using debt to drive economic growth in the developed world has rapidly created the largest global debt bubble in history. And economic watchers say the resulting bust is going to make the 2008 financial crisis look like a walk in the park.

Mar 14 11:18

Russia's economic development minister comments on decline of oil prices

"The reasons for decline of oil prices include several factors - quite aggressive production growth in the US, and rumors associated with a possible change of OPEC tactics. This rumor, of course, affects expectations," he said. According to Oreshkin, the level of oil prices in the updated macro forecast for 2017 will depend on the first quarter’s figures. Oil prices began to decline on March 8 almost immediately after the publication of the data on oil reserves by the US Department of Energy. Thus, commercial oil reserves in the US increased by 8.22 mln barrels from February 24 to March 3, amounting to 528.4 mln barrels with the forecast of growth of 1.97 mln barrels of oil. On March 8-10, price of Brent futures contract with May delivery dropped by almost $5. On November 30, OPEC countries agreed to cut oil production to 32.5 mln barrels per day, which means those countries agreed to reduce their daily average output by 1.164 mln barrels starting January 1, 2017.

Mar 14 11:08

Currencies of developing economies to weaken after March 15 — Ex-Finance Minister Kudrin

Currencies of developing economies will weaken if the US Federal Reserve decides to increase the base rate at its meeting on March 15, Chief Executive of the Russian Center for Strategic Research (CSR) Alexei Kudrin said on Tuesday in Twitter. "It is highly probable the US Federal Reserve will increase the rate tomorrow. This will weaken currencies of developing markets in a way," Kudrin tweeted. The US regulator will announce its decision at 21.00 Moscow Time on March 15.

Mar 14 10:36

How The US Could Solve Its Retirement Crisis

Too many Americans are saving little to nothing for retirement. According to one study, 45 percent of working-age households “do not have any retirement account assets.” Congress could sharply improve the numbers by adopting dynamic scoring of retiree distributions. The move could lead to millions of new accounts, and a fairer sharing of the US’s retirement promise.

Mar 14 09:28

ABC News to Face South Dakota Jury Over ‘Pink Slime’ Story

Lawsuit claims reporting caused $1.9 billion worth of damage

Mar 14 08:40

Play Job on the US jobs numbers, look at a bullish Fed, read the runes….and head for the hills

A perfect Storm has been brewing for nine years. Now a misleading set of payroll numbers and new Presidential rally hype are creating an air of triumphalism. Every indicator is saying ‘Crash2’. This time, I don’t see how we can evade it.

Mar 14 08:39

“Civil War” breaks out at White House over trade, Goldman is winning

Earlier this week, when we discussed Peter Navarro’s jarring op-ed in the WSJ in which he alleged that the persistent US trade deficit “would put US national security in jeopardy”, we said that “a better question than what is Navarro’s purpose by writing it, is why he is writing it, and does his use of a public forum like the WSJ mean that there is friction between him and Trump camp, especially since in recent weeks it appears that a core pillar of Trump’s trade policies, namely the border adjustability, appear to no longer be on the docket of actionable items.”

Mar 14 08:38

Elites chartering “getaway boats in case of Manhattan emergency”

Even those who are aware of the extremely fragile fabric of society are often stuck living urban lives. Perhaps they plan to retire to a country abode or construct a hideaway to escape to if the need ever arises, but for now, they are stuck in the city making a living.

Mar 14 08:32

Pro-EU Politicians Realize How Harmful Anti-Russia Agenda is to Their Interests

The European Union has extended for another six months its sanctions against Russian individuals and organizations over their alleged role in the Ukrainian crisis. Political analyst Yuri Mukhin told Sputnik that the EU has dug in its heels on anti-Russian sanctions and is simply unable to change its tack.

Webmaster's Commentary: 

Mar 14 07:39

HOW THE FEDERAL RESERVE IS SETTING UP TRUMP FOR A RECESSION, A HOUSING CRISIS AND A STOCK MARKET CRASH

When interest rates rise, borrowing money becomes more expensive and economic activity slows down.

For the Federal Reserve to raise interest rates right now is absolutely insane. According to the Federal Reserve Bank of Atlanta’s most recent projection, GDP growth for the first quarter of 2017 is supposed to be an anemic 1.2 percent. Personally, it wouldn’t surprise me at all if we actually ended up with a negative number for the first quarter.

As Donald Trump has explained in detail, the U.S. economy is a complete mess right now, and we are teetering on the brink of a new recession.

So why in the world would the Fed raise rates unless they wanted to hurt Donald Trump?

Raising rates also threatens to bring on a new housing crisis. Interest rates were raised prior to the subprime mortgage meltdown in 2007 and 2008, and now we could see history repeat itself. When rates go higher, it becomes significantly more difficult for families to afford mortgage payments…

Webmaster's Commentary: 

Such a rise in interest rates right now is nothing short of an attempted financial, and political, crucifixion of President Trump, and this is quite deliberate, on the part of both Janet Yellen, and the American Deep State.

Mar 14 07:23

How The Federal Reserve Is Setting Up Trump For A Recession, A Housing Crisis And A Stock Market Crash

Most Americans do not understand this, but the truth is that the Federal Reserve has far more power over the U.S. economy than anyone else does, and that includes Donald Trump.

Mar 14 03:05

Snap’s IPO Shares Should be “Junk Equity”: CalPERS

The scam around the hottest Tech IPO in 3 years; a revolt by institutional investors that may have to buy the shares.

Mar 13 20:02

Insanity Still Rules: Bullish For Gold And Silver

The emergence of an unexpected BREXIT victory, followed by an even more unlikely event, a Trump presidential victory are the outgrowth of the global elites having far exceeded their [almost] unspoken, unchallenged rule of the world, accomplished mostly by controlling the world’s money.

Mar 13 19:50

How Will Stocks Come Unglued? Wolf Richter on the Keiser Report

In normal times, they would’ve already come unglued. But these are not normal times.

Mar 13 17:52

How Much Further Can Oil Prices Fall?

Oil prices fell nearly 8 percent this week as speculators rushed for the exit and closed near record long positions.

Mar 13 17:17

The Poorest of the Poor - On the Edge of Europe

As I watched this video all I could think of was all the money that Europe has squandered on assistance to invaders from Islamic countries all the while the people of Europe starve and freeze to death.

Mar 13 17:02

All Cartels Collapse, And This Will Be No Different

Unequivocally, we are living through an era featuring the most disjointed financial market valuations in global history.

Mar 13 16:52

Treasury Urges Congress To Raise US Debt Limit To Avoid Default

The US national debt will reach a statutory limit next week, forcing the Treasury to halt sales of certain securities and rely on “extraordinary measures” to continue paying government bills until Congress can raise or suspend the limit this fall.

Mar 13 16:46

Welcome to Bubble Land

Mar 13 16:13

PELOSI CLAIMS TRUMP "HAS DONE NOTHING TO CREATE JOBS" ... IMMEDIATELY HUMILIATED

It’s no secret that House Minority Leader Nancy Pelosi doesn’t like President Trump. A quick perusal of her Twitter account reveals more ragetweets against the president than your average liberal arts student. And they say Trump’s tweeting is unbecoming.

Mar 13 15:10

‘We may no longer be permitted—nor permit ourselves—to enter Israel,’ 172 scholars write

signed by scholars of Jewish studies deploring Israel’s passage of a law last week barring travel by those who support boycotts against Israel, including BDS (boycott, divestment and sanctions) and boycotts of settlement goods.

Mar 13 14:25

Adequate Housing: Global Financial Institutions Hold The World To Ransom

The housing crisis has rewarded the wealthiest while those who have lost their homes are often blamed for taking on too much debt. (Photo: Pixabay)

In corporate finance, the world resembles the classic board game Monopoly, where players trade in and develop properties, demand rents and aim to bankrupt others. The players in this game are a global political and financial elite that include US President Donald Trump.

Mar 13 13:42

Crude Breakdown could take stocks with it

When an asset takes out horizontal resistance to the upside, it is nice to see the old resistance tested as new support, before pushing higher.

Mar 13 12:27

Imminent Bond Market Bloodbath Highly Likely

Mar 13 10:00

Roughly one third of college students spend their loans on spring break and partying.

There is a massive student loan epidemic in the United States. Over $1.4 trillion in student debt is floating around in our economy lingering like an albatross on the necks of many young students. While the idea of getting a college degree is more popular today than ever, it would seem like going to spring break is also very popular. It is hard to track how students spend their student loans. Obviously most (if not all) goes to pay for college for the vast majority of students. But some use student loans to finance unnecessary items like partying it up on spring break and getting inebriated to celebrate a semester well done. A new LendEDU poll found that roughly one-third of college students used a part of their student loans to finance their spring break. While this is not the bulk of young college going Americans, the number is somewhat startling. Priorities folks!

Mar 13 09:34

Iceland to end capital controls more than 8 years after banking crash

The tourism boom, strong investment by business and in the housing market, helped Iceland’s economy grow 7.2 percent in 2016.

"The removal of the capital controls, which stabilized the currency and economy during the country's unprecedented financial crash, represents the completion of Iceland’s return to international financial markets," said the country’s central bank.

Mar 13 09:20

BREAKING: SCOTLAND TO HAVE NEW INDEPENDENCE VOTE

Although a referendum on Scottish independence was held in 2014 which was narrowly won by the ‘remain in UK’ side. However, with Scottish people voting strongly against Brexit, the issue of independence is very much on the table. In 2014, the word Brexit did not exist and the natural assumption was that Scotland was voting to remain in a UK that would forever be in the EU.

Mar 13 09:05

THE US GOVERNMENT NOW HAS LESS CASH THAN GOOGLE

History is full of events that people thought were impossible. And yet they happened.

Looking back, they always seem so obvious.

Duh. The Dutch were spending 68% of their tax revenue just to service the debt. Of course they were going to default.

But at the time, there was always some prevailing social influence… some wisdom from the “experts” that made otherwise rational people believe in ridiculous fantasies.

Today is no different; we have our own experts who peddle ridiculous (and dangerous) fantasies.

Case in point: this week, yet another debt ceiling debacle will unfold in the Land of the Free.

You may recall the major debt ceiling crisis in 2011; the US federal government almost shut down when the debt ceiling was nearly breached.

Then it happened again in 2013, at which point the government actually DID shut down.

Webmaster's Commentary: 

So now, what, in light of the fact that today is 13 March?!?

Economic prognosticators have been predicting a crash in mid-March, and we are already nearly there.

After March 15th, everything will grind to a halt.

Market crash

80% Stock Market Crash To Strike in 2017, Economist Warns

3 signs a stock market crash will happen in 2017

This, most likely, will be brought about by the following:

Obama/Bohener's debt ceiling holiday scam ends March 15, 2017

Most likely, Congress will raise the debt ceiling yet again, as Treasury Secretary Mnuchin has requested,

Mnuchin calls on Congress to raise the debt limit as deadline approaches

But what will this actually accomplish, if the Federal Government is unable to rein in spending?!?

The short answer is, precious little.

Mar 13 08:43

"Don't Make Me Make The Podium Move" Sean Spicer Blasts Reporters Over Job Growth

"Don't Make Me Make The Podium Move" Sean Spicer Blasts Reporters Over Job Growth

sean spicer press conference president donald trump press secretary delivers press briefing at the white house

original air date: 3/ 10/ 2017

Mar 13 08:24

California Is Exporting Its Poor To Texas

Every year from 2000 through 2015, more people left California than moved in from other states. This migration was not spread evenly across all income groups, a Sacramento Bee review of U.S. Census Bureau data found. The people leaving tend to be relatively poor, and many lack college degrees. Move higher up the income spectrum, and slightly more people are coming than going. About 2.5 million people living close to the official poverty line left California for other states from 2005 through 2015, while 1.7 million people at that income level moved in from other states – for a net loss of 800,000. During the same period, the state experienced a net gain of about 20,000 residents earning at least five times the poverty rate – or $100,000 for a family of three.

“There was really nothing left for me in California,” said Kundurazieff, who also writes a blog about his cats. “The cost of living was high. The rent was high. The job market was debatable.”

Mar 13 08:19

Fedcoin: The U.S. Will Issue E-Currency That You Will Use

The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it. That’s the prediction of currency guru Doug Casey who has an uncanny record of being correct about economic and political trends. His latest book, Surviving Fedcoin: How to Protect Yourself (and Profit) from America’s Coming Currency Change, is a public bet that the U.S. government will issue its own bitcoin which Casey views as “the last arrow” in its money quiver.

Webmaster's Commentary: 

And like the Federal Reserve Note, the Fedcoin will be LOANED into circulation at interest, to keep the debt-slave scam going!

Mar 13 07:55

Will Mid-March Madness Maul the Stock Market in 2017?

Many of the 2017 economic headwinds I’ve described will hit during the Ides of March, just as the Trump stock-market Rally shows signs of topping out. This might not be the Great Epocalypse — not all at once anyway — but a large and likely correction is looming. I think the bear is about to be let out of his cage.

Mar 13 07:40

$21,714 FOR EVERY MAN, WOMAN AND CHILD IN THE WORLD – THIS GLOBAL DEBT BOMB IS READY TO EXPLODE

According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars.

Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number. If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.

So if you have a family of four, your family’s share of the global debt load would be $86,856.

Mar 13 07:30

Government is still a problem

At the end of the day, Americans are going to end up with a budget that spends more on the military and makes a lot of compromises on cuts to domestic spending. Bottom line is that spending continues to increase.

Mar 13 05:44

$21,714 For Every Man, Woman And Child In The World – This Global Debt Bomb Is Ready To Explode

According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars. Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number. If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.

Mar 12 12:48

Massive Cascade of Eurozone Defaults Coming Up

As soon as any major country exits the Eurozone (and possibly some lesser ones), a cascade of defaults, unparalleled in history will commence.

The only way to stop such a cascade would be if the ECB guaranteed (printed) enough euros to cover losses. Meanwhile, the already high Eurozone default risk keeps rising.

Mar 12 11:34

A High-ly Troubling Breadth Development? Despite the averages’ close proximity to 52-week highs, the number of NYSE New Lows has recently surpassed that of New Highs.

Although the major stock averages remain within arm’s length of their highs, an increasing number of red flags has recently been popping up. As members of The Lyons Share are aware, we became increasingly bearish in the short-term during the latter stages of the recent melt up in prices.

Mar 12 09:35

How Rothschild Inc. Saved Donald Trump

In the early 1980’s Donald Trump was an up and coming real estate developer in New York. There was no connection between the Trump name and casinos or gambling. The obvious nature of the name Trump and its definition related to gambling and card games foretold of the massive empire which would develop in the coming years.

In 1987 Donald Trump purchased his first casino interests when he acquired 93% of the shares in Resorts International. Resorts International has a sordid history which began in the early 1950’s when it evolved from a CIA and Mossad front company which had been established for the purpose of money laundering the profits from drug trafficking, gambling, and other illegal activities.

Mar 12 08:35

Stronger Economic Growth? Over My Dead Body, Says Janet Yellen

So why is the Fed raising rates when the economy is crawling along at suboptimal speed and, perhaps, headed for recession?

That question can be answered in two words: Donald Trump.

Mar 12 08:15

Eurasia: The Strategic Triangle that Is Changing the World

Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of the Eurasian continent. With a population of more than five billion people, constituting about two-thirds of the Earth’s population, the future of humanity passes through this immense area. Signaling a major change from a unipolar world order based on Europe and the United States to a multipolar world steered by China, Russia and Iran, these Eurasian states are carving out a leading role in the development of the vast continent. As part of the challenges faced by these leading multipolar countries, the disruptive events originating in the post-WWII Euro-Atlantic world order will need to be tackled.

Webmaster's Commentary: 

Sounds like "peace through commerce" to me!!

Mar 11 16:24

Government employee retirement funds are NOT funded by ‘investments’: Wall Street fees are twice the net income of fund contributions, taxpayers pay 95% of costs, net returns average less than 1%. Solutions are monetary reform, public banking: 22-minute v

*hyperlinks/videos live at source*

Among the game-changing “fake news” We the People are told by “leaders” in government and corporate media is that government employee retirement contributions placed into investment funds pay for retirees’ benefits.

Let’s summarize the data of California’s 2011 Comprehensive Annual Financial Report (CAFR; the last time I looked) and what it means for the state’s 12 million households:

Officials and corporate media never remind taxpayers, but California holds $600 billion in taxpayer cash and investments ($50,000 non-disclosed assets per household).

California’s ~14,000 various government entities’ CAFRs have a sampled-data total estimate of $8 trillion in surplus taxpayer assets ($650,000 non-disclosed assets per household). For examples, page 63 of L.A. County’s 2011 CAFR shows $66 billion in cash and investments; City of L.A.'s CAFR page 58 shows $38 billion.

Mar 11 15:21

Scott Gottlieb, big pharma advocate, tapped to lead FDA

Another Swamp Critter!

(UPI) -- President Donald Trump has named conservative physician Scott Gottlieb to lead the Food and Drug Administration, winning praise from pharmaceutical companies.

Gottlieb, 44, was the deputy commissioner of the FDA under former President George W. Bush and has had long ties as an advocate for drug companies, a fact that prompted criticism from some consumer groups who said he may be too deferential to big pharma as he oversees the FDA's drug approval process.

Mar 11 15:18

Silver Market Poised For Big Reversal When Institutional Investors Move In

The Silver Market is going to experience a big reversal when the Hedge Funds and Institutional investors rotate out of highly inflated stocks and into precious metals investments.

Mar 11 15:00

Trump Plants Clues In His Office To Let The Central Bankers Know Their Fate

Venezuela is almost out of money, the country is suffering and this is all part of the deep state plan to take control of Venezuela. Retail is not dying because of Amazon, it is dying because people have no jobs and no money.

Mar 11 12:13

Deutsche Bank Fights for Time, Wins Reprieve

Shares soar 75% in five months, infamous CoCo bonds jump 30%

Mar 11 09:39

This is What Our Presidents Have Done to Our Home-Owning Dream

Is the American Dream dead? If home ownership as an attainable goal for the average American is the yardstick, then it is struggling – and currently in worse shape than it has been since the time of Richard Nixon, with one exception.

Mar 11 09:02

A Furious Italian Prime Minister Slams Deutsche Bank As Europe's Most Insolvent Bank

Several years ago, we were the first to point out the true "elephant in the room", namely Deutsche Bank's $75 trillion in derivatives which as we said at the time was about 20 times bigger than Germany's GDP, and 5 times bigger than the entire economic output of the Eurozone."

Mar 11 08:46

The Federal Reserve Explained in 3 Minutes

Mar 11 08:36

Can Merkel Bring Trump to Reason?

Angela Merkel is planning a dual strategy for her first face-to-face meeting with Donald Trump on Tuesday. She wants to foster close personal relations with the new U.S. president, but she also wants to make clear the Berlin is armed for a trade war against Washington.

Mar 11 08:35

EU finance watchdogs must retain powers over City of London post-Brexit, MEPs insist

They are urging regulators to press for “extraterritorial” oversight of the City as a condition for allowing the UK financial centre to keep its dominance in the lucrative derivatives market.

Mar 11 07:47

Crashing The System: Analysis Shows It Costs 12 Times More To Resettle Refugees Here In The U.S.

President Trump’s new executive order will have the U.S. housing less refugees here than under the previous administration.

Mar 11 07:39

VIRTUAL DIGITAL GOLD TO BE THE NEXT BIG THING - China's Tech & Financial Firms Eye Virtual Gold Rush

China's virtual gifting market, typically the domain of plugged-in young consumers celebrating special occasions or flirting, is luring major financial institutions keen to boost trade of another auspicious commodity: gold.

Mar 11 06:05

Central Banks & Gold: A SEA CHANGE Is Coming

Mar 10 16:58

An Eye-Brow Raising Survey on Bull's 8th Anniversary

On March 9, 2017, the bull market marks its eighth anniversary. At the same time, one group of market participants are more bullish than they've been in decades. Are they right? The Wave Principle is helping our subscribers anticipate the next major trend change.

Mar 10 16:37

Obamacare was 'meant to explode' in 2017 Trump says 'because Obama won't be here' - 'As bad as it is now, it will get even worse'

President Donald Trump urged lawmakers Friday to support the GOP health reform plan if they want to 'save Americans from imploding Obamacare disaster.'

Health insurance premiums are doubling, and in some cases tripling, he declared during a meeting at the White House with committee chairs, as he predicted that 2017 'would be a disaster for Obamacare.'

'That's the year it was meant to explode, because Obama won't be here. That was when it was supposed to be,' he proclaimed. 'As bad as it is now, it will get even worse.'

Mar 10 15:18

Jim Rickards: This Mini-Bubble Could Burst at Any Moment

Whenever stocks rise sharply for a sustained period, or rise more than a few days or weeks in a row, as had been the case until these past few days, there is always some pundit quick to label the trend a “bubble” and advise investors to run for the exits.

Mar 10 14:41

Doug Casey: How fascism comes to America

I think there are really only two good reasons for having a significant amount of money: To maintain a high standard of living and to ensure your personal freedom. There are other, lesser reasons, of course, including: to prove you can do it, to compensate for failings in other things, to impress others, to leave a legacy, to help perpetuate your genes, or maybe because you just can’t think of something better to do with your time.

Mar 10 14:28

Obamacare II – Return of the Walking Dead

Hillary Clinton isn’t Snapchatting images of her new haircut while President Donald Trump steers the ship of state simply because she’s only slightly more likeable than a pit viper. The Democrats constructed their coffin from the myriad scandals which plagued the Left; from the abuses of the Obama Administration to the excuses for Hillary. But they nailed it shut with Obamacare.

Mar 10 14:27

Are Central Banks Losing Control?

Eight years after the crisis of 2008-09, central banks are still injecting $200 billion a month into the global financial system to keep it from imploding. The returns on their "investment" is diminishing rapidly, and they're losing control of everything that matters.

Mar 10 13:53

OUCH! TRUMP HAS REALLY BAD NEWS FOR DEMOCRATS

You're seeing the start of a robust economic expansion, but you won't hear about it in the media because its favorable for Trump

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