ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Aug 23 11:00

The 10 States Leading The Economic Recovery All Have One Thing In Common (And So Do The Worst Ones!)

By Brad Polumbo

The economy continues to recover from the COVID-19 pandemic and ongoing government restrictions. But newly released Labor Department data show that the recovery isn’t equal across all 50 states and Washington, DC. Some parts of the US have almost or entirely returned to pre-pandemic unemployment rates—while others remain strangled in stagnation.

Here are the 10 states with the lowest unemployment rates as of July 2021...

Aug 23 10:50

A slew of empty shelf store photographs from ANP readers show America falling apart as a trucker shutdown over “papers please” at state lines would push America off the cliff

We first want to thank everybody who has sent in photographs of empty store shelves as seen within this story. Susan Duclos will be doing a follow-up to this story this coming week as well, so if while you’re out and about doing your shopping and you run into empty store shelves in your own areas, please send them over to ANP at [email protected] and we’ll feature them in that story.

(Article by Stefan Stanford republished from AllNewsPipeline.com)

We also wanted to thank everybody who has faithfully and lawfully served in the US Military and Law Enforcement all across this great nation, with many sacrificing their lives to defend America and defending others all across the planet. As we’re witnessing in Afghanistan now with the fall and the slaughter of the innocent as a tyrannical regime advances, while many Democrats want to dismantle law enforcement and speak ill of the Military, this classic quote by Michael Marks has never been so true.:

Aug 23 09:53

Bank of America reportedly forces employees to embrace woke ideology – Now, that is a serious threat to democracy. Here’s why

US capitalism is going through an identity crisis, which is symbolised by the Bank of America Corporation’s decision to undertake the project of indoctrinating its employees with some of the most grotesque ideals of wokeness.

The Bank of America’s radical re-education programme actually exhorts its staff to become “woke at work,” writes the City Journal, citing documents it obtained from a whistleblower. In practice, being woke at work means acting in accordance with the doctrine and practices promoted by campus social justice warriors, Black Lives Matter activists, and critical and intersectional ideologues.

Aug 23 08:47

Beijing Considers Making US Listed Companies Hand Over Data Control To Chinese State Firms

On Friday, Chinese tech stocks swooned for the nth time, sending the Hang Seng index into bear market territory, after Beijing approved a new privacy law to prevent data collection by domestic technology companies. As we reported then, China's most powerful legislative body, the Standing Committee of the National People's Congress, passed the Personal Information Protection Law that will go into effect on Nov.1. The move sent tech stocks plunging and leaving investors bewildered over the intensity of Beijing's regulatory crackdown that has slammed countless sectors.

It turns out that when it comes to control over data, Beijing is nowhere near done and late on Friday Reuters reported that as part of Beijing's unprecedented scrutiny of private sector firms, Chinese regulators are considering pressing data-rich companies "to hand over management and supervision of their data to third-party firms" if they want to list in the U.S.

Aug 23 07:15

In the NYT, a White Woman Culturally Appropriates the Black-Women-Deserve-to-be-Lazy-As-Reparations Trend

It’s not just Chinese millennials who are figuring out that work is a false idol. I should know because I’m lying flat too, holed up in my parents’ house in West Virginia. Earlier this year I quit my job producing an NPR program in Boston, and I haven’t been able to stomach rejoining the cacophony of the 24-hour news cycle. I’m far from the only one: A recent tweet that proclaimed “i do not want to have a career” racked up over 400,000 likes. Instead, proclaimed the tweeter, @hollabekgrl, “i want to sit on the porch.” …

Aug 23 06:45

Systemic Market Selloff On The Horizon?

Aug 23 05:49

Great Resignation hits IT departments and companies are switching strategies

After a year of layoffs and hiring freezes, companies have increased hiring in recent months. At the same time, a tight labor market and Great Resignation of sorts has companies using deal sweeteners to attract top talent and fill openings. On Thursday, PwC released the results of its latest U.S. Pulse Survey, highlighting executive concerns about high turnover and network security following a string of high-profile cyberattacks.

"As the pandemic shuttered us all inside our homes and opened up the possibility of remote work, employees have been able to reflect on their needs and aspirations for over a year. The result: many want a new, flexible model of work," said Joe Nocera, leader of PwC's Cyber & Privacy Innovation Institute.

Aug 23 05:18

NL a global leader when it comes to meat substitutes

The Netherlands is a global leader when it comes to meat substitutes, with companies and investors from all over the world turning to the Vegan Valley in the east of the country for its innovative technologies, EenVandaag reports.

Five years ago, the Netherlands counted 40 companies specifically working on meat substitutes. Now there are 72 working on everything ranging from insects as food to plant-based steak.

The world is in a "protein transition" and the Netherlands is a front-runner, FoodValley innovation manager Jeroen Willemsen said to EenVandaag. "Proteins are building materials that every body needs. We often get them from meat and other animal products, but by making and eating meat variations you also get these proteins, without having to burden the earth for it," Willemsen said.

Aug 22 13:02

Citizens and Police Now Safer as Cops Told to Stop Pulling People Over for Victimless Crimes

By Matt Agorist

Of the 1,127 people killed by police in 2020, only 277 of them were suspected of a violent offense. The majority, 658 were suspected of a non-violent offense or no crime at all, while another 121 were killed over a traffic violation. While 121 people were killed over traffic violations, millions of others are extorted, arrested, caged, and beaten for traffic “offenses” which have no victim — like no seat belt, dark window tint, and even something as trivial as having an air freshener hanging from their rear view mirror.

Traffic stops in the land of the free, are a means of bolstering the prison industrial complex by extracting revenue from those who can pay and incarcerating others who cannot. When someone attempts to resist being forced to pay, they are beaten, imprisoned and killed...

Aug 22 09:12

Buy Businesses, Not Stocks

Aug 22 07:47

Inflation To Hit 9% THIS YEAR??

Aug 22 06:21

The Dollar's Debt Trap

On the fiftieth anniversary of the Nixon Shock, this article explains why fiat currencies have become joined at the hip to financial asset values. And why with increasing inevitability they are about to descend into the next financial crisis together.

I start by defining the currencies we use as money and how they originate. I show why they are no more than the counterpart of assets on central bank and commercial bank balance sheets. Including bonds and other financial issues emanating from the US Government, the individual states, with the private sector and with broad money supply, dollar debt totals roughly $100 trillion, to which we can add shadow banking liabilities realistically estimated at a further $30 trillion.

Aug 22 06:21

Fed Talks Tough but Few Listen

Aug 22 06:18

Fed's Jackson Hole Meeting Takes Place In The Country's Wealthiest County

What better place for the Fed to have their annual company picnic than at the apex of the country's wealth inequality gap?

That's exactly what they'll be doing when they meet at Jackson Hole next week. It is located in Teton County, which has the "nation's highest per-capita income from assets", according to Bloomberg.

How fitting.

A study by the Economic Innovation Group points out that Jackson Hole has attracted the "ultra-rich" in recent years and that the "gap between counties with the lowest and highest asset income per capita rose sixfold between 1990 and 2019".

The study looked specifically at "income from assets", which excludes wages and government assistance. This category of wealth has skyrocketed in places like New York City and the San Francisco Bay Area.

Aug 22 06:09

Beware An "Instability Cascade": One Bank Warns That Stocks Are About To Hit Record Fragility

Back in late 2017, Bank of America's derivatives strategists made a remarkable, if hardly original, observation - the bank said what everyone knew but was afraid to voice namely, that "In Every Market Shock Since 2013 Central Banks Have Stepped In To Protect Markets."

Aug 22 06:09

GM Expands Bolt Recall To All Remaining Vehicles, Will Take $1 Billion Charge

GM has vastly expanded its Chevy Bolt recall that it had previously issued due to risk of fires.

The company said on Friday it was going to take a $1 billion charge as a result of the recall and that it was "indefinitely" halting sales of the EV due to the risk of fire from the car's battery pack.

The expanded recall "covers 73,000 vehicles from model years 2019 through 2022," Reuters reported Friday. It now encompasses all remaining Bolt vehicles that hadn't been previously recalled. The company is targeting replacing defective battery modules with new ones as a solution.

GM had already set aside $800 million for previous recalls, which is not included in the new $1 billion cost for the company.

Aug 22 06:01

$250 Billion Fund CIO Fears Painful Reversion Of "Fed-Enabled Dissonances" Between Reality & The Market

A scientist renowned for delivering speeches exciting and inspirational had been travelling from city to city with his chauffeur. After the speech was finished and the audience clapped and rose to their feet, the chauffeur spoke with some irritation to the scientist:

“You know, I listen to you give these same speeches, night after night, and you say them exactly word for word! I bet I could deliver your speech at our next venue.”

The scientist, a bit miffed, replied:

“Okay, why don’t we exchange clothes, and I will drive you to the next venue, and you, my chauffeur, can deliver my speech.”

Sure enough, the chauffeur – dressed as the scientist – delivered an extraordinary speech and once again the audience stomped and applauded. However, this time the moderator stood and said, “Wow – amazing speech. But I think we have some time for questions.”

A man in the audience rose and inquired about an esoteric point.

Aug 21 09:09

“I Have No Choice” But to Keep Working

Aug 21 07:31

Bonds Flashing a Death Cross

Aug 21 07:18

The $26 an Hour Minimum Wage?

That may sound pretty crazy, but that’s roughly what the minimum wage would be today if it had kept pace with productivity growth since its value peaked in 1968. And, having the minimum wage track productivity growth is not a crazy idea. The national minimum wage did in fact keep pace with productivity growth for the first 30 years after a national minimum wage first came into existence in 1938.

Aug 21 06:55

Biden and Pelosi Set to Impose Tax Hikes on Small Businesses

During his campaign, President Biden promised the American people that he would not raise taxes on small businesses. Now he is violating that promise, and next week House Democrats will vote on the framework to make the tax hikes possible.

Biden's small business tax promise was made on Feb. 20, 2020 before a national audience during a Democratic debate hosted by MSNBC:

MSNBC's Hallie Jackson: "I want to ask you about Latinos owning one out of every four new small businesses in the United States. Many of them have benefited from President Trump's tax cuts, and they may be hesitant about new taxes or regulations. Will taxes on their small businesses go up under your administration?"

Biden: "No. Taxes on small businesses won't go up."

Aug 21 06:49

Waning Number of NDX Stocks In The Uptrend

Aug 21 05:45

Why The Wheels Are Coming Off

Why are the wheels coming off the American Project? Afghanistan is front and center in the news flow for obvious reasons, but since I have no expertise on that nation or America's role there, I am stipulating these are general comments from a systemic perspective.

By the American Project I mean 1) global hegemony in both hard and soft power and 2) American Exceptionalism, the belief that America is not just uniquely strong but uniquely right in terms of holding the high moral ground.

1. If you don't understand the problem, you can't possibly arrive at a solution. It's long been painfully obvious that U.S. presidents would be best served by their closest advisors being anthropologists with long in-country experience in whatever nation the U.S. is engaging.

Aug 21 05:44

GOOGLE HAS BEEN PAYING WIRELESS CARRIERS BILLIONS TO NOT DEVELOP COMPETING APP STORES

To be clear, wireless carrier app stores have always kind of sucked. Verizon's efforts to create its own app store were shut down in 2012, after underwhelming consumers for years. At the time, the narrative was that Verizon just didn't find it worth the trouble in the face of Google domination and innovation. And while that's still largely true (wireless carriers are utterly unfamiliar with competition and therefore historically suck at innovation and adaptation), it turns out there was another reason.

Namely, that Google was paying Verizon and other major wireless companies a big chunk of money to not compete with the Android marketplace. And they were paying smartphone manufacturers to ship devices without competing app stores installed. Both nuggets were buried in a freshly unredacted copy of Epic's antitrust complaint (pdf) against Google, first spotted by Jeremy Owens:

Aug 21 05:34

Biden orders new sanctions against Russian-German pipeline as Merkel meets Putin in Moscow

US President Joe Biden is ordering his government to place additional sanctions against Nord Stream 2, even as Russian and German leaders are meeting in Moscow ahead of the gas pipeline’s completion.

In a letter to Congress sent on Friday, Biden argued that “certain Russian energy pipeline projects” would expand Moscow’s influence over EU energy resources and weaken “Ukraine and Eastern flank NATO and EU countries,” thereby threatening “the national security, foreign policy, and economy of the United States.”

Aug 20 15:33

Everyone with a foot out the door... Again.

Aug 20 10:50

Inflation Isn’t Going Anywhere But Up

Aug 20 09:04

[Video] The Highwire with Del Bigtree - FORMER GOVT. OFFICIAL: “FINANCIAL SYSTEM UNDER ATTACK”

Financial Expert and former White House Official, Catherine Austin Fitts, reveals how the central banking system has utilized economic turmoil during the #Covid19 pandemic, to advance a plan to centralize wealth, reengineer the financial system, and what we can do to stop it.

Aug 20 08:50

When the collapse is around the corner...

Aug 20 08:44

Another #VIX spike! Is this time different?

Aug 20 08:40

Have We Passed The Peak Of The Smartphone Era?

25 years ago, on August 15, 1996, Nokia released the Nokia 9000 Communicator.

Able to send and receive email and access the web via its 9.6 kbit/s GSM modem, the Communicator was way ahead of its time. And while no one called it that at the time, it was in fact one of the first smartphones on the market.

It would take roughly another decade and a stroke of genius from Steve Jobs to jumpstart the smartphone market, which really took off after the release of the first iPhone in 2007, which rang in the era of modern touchscreen smartphones.

But, as Statista's Felix Richter notes below, 14 years later, the smartphone boom has died down a bit, as market saturation and a lack of real innovation have led to declining sales for the past few years. And while the market did return to positive growth in Q4 2020 and carried that momentum through the first half of 2021, it remains doubtful if smartphone shipments will ever return to the level reached in 2016.

Aug 20 07:32

State imposes water restrictions as drought worsens

The drought in Minnesota continues to get worse, exposing rocks, riverbeds and islands in the St. Croix and Minnesota river drying up entire channels in the mighty Mississippi.

The Minnesota Department of Natural Resources has imposed water restrictions for much of the state. Utilities are to limit water use to no more than 25% above January levels.

The restrictions apply to about 300 communities within three major watersheds which include the Mississippi River Headwaters and the Rainy River and Red River. That covers the Twin Cities, nearly all of central Minnesota and much of northern Minnesota.

According to the U.S. Geological Survey, about 60% of the state’s streams and rivers are flowing at or near record lows. The flow of the Vermillion River near Voyageurs National Park was down to a trickle Wednesday, the lowest level recorded since measurements began in the 1990s.

Aug 20 07:26

Hospital 'hits breaking point' after firing 150 unvaccinated workers

The 150 nurses and other hospital workers at Houston Methodist Hospital who were fired for refusing to receive one of the expermimental COVID vaccines apparently were regarded by administrators as disposable.

But two months later, the hospital is one of several in the area experiencing a severe shortage of medical personnel as media report local hospitals have reached a "breaking point" because of a flood of COVID-19 cases, noted the Foundation for Economic Education.

Aug 20 06:45

European Nat Gas Prices Plunge After Gazprom Says May Start Nord Stream 2 Deliveries This Year

We recently wrote about Europe's soaring, record gas prices as Russian nat gas supplies have been suspiciously low, amid growing concerns about Europe's inventory levels as the winter approaches.

The price uptrend was finally broken yesterday - if only for the time being - when as Bloomberg's Stephen Stapczynski explains, Dutch nat gas futures prices (TTF) plummeted by 10% after data suggested Nord Stream 2 started flowing. But that data turned out to be incorrect, and prices quickly rebounded recovered.

Aug 20 06:37

Ukraine's Zelensky ‘Not Happy’ With US-German Deal on Nord Stream 2, Slams Pipeline as ‘Weapon’

In July, the US and Germany reached a deal on the contentious issue of the Nord Stream 2 gas pipeline. Washington vowed to suspend sanctions against the project, while Berlin agreed to invest in Ukrainian energy and to facilitate the extension of the gas transit agreement between Kiev and Moscow, set to expire in 2024, for up to ten years.

Ukrainian President Volodymyr Zelensky has acknowledged he is not happy with the agreement reached earlier between the United States and Germany to allow completion of the Nord Stream 2 pipeline.

Speaking in an interview with journalists from Washington Post, Liberation, Funke Media, Novoe Vremya and Novaya Gazeta, he noted that Nord Stream 2 is among the priorities on the agenda of his upcoming meeting with US President Joseph Biden in Washington on 31 August.

The Ukrainian President emphasized that as long as the Joint Russian-European energy megaproject has not been launched, Ukraine will tirelessly negotiate to protect its interests.

Aug 20 06:23

China Admits Taliban Ties Aimed at Getting Afghanistan’s $3 Trillion in Rare Earths

In the course of hectoring the United States for its “bungled and embarrassing withdraw from Afghanistan” on Thursday, China’s state-run Global Times admitted Beijing has a rapacious interest in Afghanistan’s vast rare-earths mineral resources and snarled it was none of America’s business if China makes deals with the Taliban to get what it wants.

The Global Times accused the U.S. of profiteering from Afghanistan for the past twenty years, without offering any theories on where all the plunder might have gone, and claimed America is only worried about China going after those mineral resources because the U.S. is jealous:

Aug 20 05:53

Report: CIA Chief Raised Concerns With Israel Over Chinese Investments

According to a report from Axios, during his visit to Israel last week, CIA Director William Burns told Prime Minister Naftali Bennett that the US was concerned with Chinese investments in Israel’s infrastructure.

An unnamed Israeli official told Axios that the US and Israel had started a dialogue on China over the past few months, but Burns’ message to Bennett was the highest level at which the Biden administration raised the issue.

The Israeli official also said that Israel was open to working with US companies on infrastructure but never received any offers. “In recent months, we started a dialogue with the Biden administration on China. The US asked about specific projects like the Chinese involvement in the Tel Aviv metro. We told the Americans we welcome US infrastructure companies to work on big projects in Israel but they don’t apply to the tenders,” the officials said.

Webmaster's Commentary: 

The CIA still acts like it rules the world. But Israel knows its current host is failing and is making new arrangements!

Aug 20 05:29

Real Explanation For Covid Injections In Quotes From “Technocalypse” video

Webmaster’s Introduction: This takeover of planet earth by the financial elite (aka Great Reset) bears a great resemblance to “invasion of the body snatchers.” Meet some of the “body snatchers” below.

Quotes are taken from: Frankenscience, Transhumanism, Gangstalking, & “TechnoCalypse” (2013 video): Mark of the Beast: The Ultimate Agenda on this website.

Aug 20 05:20

EU must move quickly to push back against Russian & Chinese influence in Afghanistan or face being made IRRELEVANT – FM Borrell

The EU must intervene immediately and not allow Russia and China to take control of the situation in Afghanistan and become the main players in Kabul, the EU High Representative for Foreign Affairs told MEPs on Thursday morning.

Josep Borrell expressed his opinion that the EU must take immediate steps in the country.

“Faced with the disturbing images of Taliban takeover, we Europeans and the international community have to ask ourselves what went wrong,” Borrell said. “What we cannot do is let the Chinese and Russians take control of the situation and be supporters of Kabul, and we become irrelevant.”

To work out the bloc’s next actions, he convened a meeting on Tuesday with the EU foreign ministers, he said, also noting that he hopes to work closely with the US to intensify diplomatic efforts.

Aug 19 11:32

US to automatically wipe out over $5.8B in student loan debt

The Biden administration announced Thursday it will automatically erase student loan debt for more than 300,000 Americans with severe disabilities that leave them unable to earn significant incomes.

The move will wipe out more than $5.8 billion in debt, according to the Education Department, and it marks the start of a broader overhaul of a program that has been criticized for having overly burdensome rules.

“We’ve heard loud and clear from borrowers with disabilities and advocates about the need for this change and we are excited to follow through on it,” Education Secretary Miguel Cardona said in a statement.

The federal government offers student debt relief for people who are “totally and permanently disabled” and have limited incomes. But the current rules require them to submit documentation of their disability and undergo a three-year monitoring period to prove they’re earning little pay.

Webmaster's Commentary: 

Here's an idea; wipe out ALL debt and restart the economy with the government issuing the currency instead of a private central bank loaning it to us an interest!

Aug 19 10:50

Video shows House Dem dismissing inflation concerns as stemming from 'false advertisements'

House Democrats have encountered questions in recent months about rising consumer prices, with many suggesting the issue was temporary.

At least one Democrat, however, appeared to dismiss concerns altogether as the product of advertisements. America Rising PAC obtained footage of Rep. Cindy Axne, D-Iowa, plainly suggesting in July that a questioner was getting false information about inflation.

"Listen, I'll tell you what," said Axne at a July 6 town hall event. "Our economy is on a great track right now. I'm assuming you're talking about a lot of the false advertisements that are out there. You know what? Here's the deal. They're comparing any of the costs against last year. I'd say we had a few things increase because we were in the middle of COVID, so no, I'm not concerned about a false advertisement."

Aug 19 10:28

'Shrinkflation' hits more and more grocery products

One of the hottest words in 2021 is "shrinkflation," and it's where consumer companies cut product sizes instead of raising prices. Either way, consumers pay more.

According to consumer guru Ed Dworsky of MousePrint.org, more items are falling victim to this.

Remember all the warnings earlier this year that paper towels were supposed to go up in price this summer? Prices stayed relatively the same, but producers shrunk their products, according to MousePrint.

Aug 19 08:31

The Smart Money Has Already Sold

Aug 19 07:38

A System of Confidence

Aug 19 06:05

Did The NY Fed Confiscate $1.3 Billion In Afghan Gold: Striking Revelations From Afghanistan's Central Bank Chief

Yesterday morning, shortly after the acting Afghan central banker chief, Ajmal Ahmady, fled the country (after he was "somehow pushed on board" of a military plane by his colleagues), and warning on twitter that the country has no dollars left domestically (i.e., any dollars and gold currently stored at the local central bank vault have been pillaged by the Taliban even though the country's new rulers vowed on Saturday that the treasury, public facilities and government offices were the property of the nation and "should be strictly guarded"), sparking domestic bank runs and a record rout in the local currency, the Afghani, some asked what that means for Afghan reserves stored offshore.

Webmaster's Commentary: 
Aug 19 05:59

European Luxury Stocks Tumble On China's "Wealth Redistribution" Plans

European luxury stocks slumped, and were among the worst performers in Europe’s Stoxx 600, after Chinese state media this week said President Xi Jinping offered an outline for “common prosperity” via "wealth redistribution" - who know that China was communist after all - that includes income regulation and redistribution, putting China’s wealthiest citizens on notice. Among the biggest losers were Richemont -5.6%, Kering -5.3%, LVMH -4.2%, Swatch -3.6%, Burberry -2.7%, Hermes -2.2%. Hong Kong-listed Prada plunges 10%.

Aug 19 05:57

Why does Tesla get away with deceptive autopilot claims? RT’s Boom Bust investigates

Two US senators are calling on the Federal Trade Commission to investigate Tesla over the company's claims that its vehicles are self-driving, after a number of deadly crashes involving Tesla models using the autopilot function.

Christy Ai and Ben Swann discuss the cult of personality phenomenon of Elon Musk and how it may be the reason why the company has gotten away with making deceptive claims for so long.

Aug 18 09:44

Do you trust Apple?

Apple is a business.

This is the first thing you should know about it. It's a company that exists to make money.

It's not your friend. It's not a superhero. It's not a religion.

As a company, it invites you to buy its products and services. If you don't like what it has to offer, you're free to move on.

And I think that this confusion is at the heart of a lot of the criticism that Apple has received over the new child safety features that it is introducing. It's quite a complicated and charged subject, and both Apple's messaging, along with how the media have reported those messages, have created more confusion.

Add to that the fact that some people get very upset when Apple does something that doesn't fit in with how they see the company, and it's a recipe for disaster.

Aug 18 08:36

Central Banks Are Now in the Endgame

Aug 18 08:08

US Economic Growth Suddenly Collapses, As Even Goldman Says "Not Good"

Just days after we warned that the US economy is rapidly rolling over, as even the otherwise cheerful UMich chief economist Richard Curtin observed that over the past half century the UMIch survey "Sentiment Index has only recorded larger losses in six other surveys, all connected to sudden negative changes in the economy," today's dismal retail sales data was the straw that finally broke the back of any last trace of positive sentiment.

And shortly after we published the summary of the latest Bank of America Fund Manager Survey which showed that overall sentiment had collapsed with expectations for growth, profits and inflation all plunging in August...

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