ECONOMY | WHAT REALLY HAPPENED X-Frame-Options: SAMEORIGIN

ECONOMY

Nov 06 08:58

Inflation has fast food customers paying more

Nov 05 12:48

Inflation on the rise – The blame game

Nov 05 10:06

Shortages To A Sudden GLUT

Nov 05 09:17

IoT and Smart Cities Converge: Waymo to Test Self-Driving Cars in NYC

By Jesse Smith

The plans to control all aspects of life including how you travel continues to accelerate as Waymo, an Alphabet company and cousin to Google has been testing its autonomous cars in dozens of cities. This glimpse of the future manifesting in the present may seem like progress, but it carries dark overtones of the completely controlled, technocratic society envisioned by people like Klaus Schwab, Jeff Bezos, and Elon Musk.

Self-driving cars were cute when they were just a fantasy as seen in a Jetsons cartoon, but now that they are invading the real world the future doesn’t look so bright. The plan to have us “own nothing and be happy” is further solidified with cars controlled by AI algorithms backed by the all seeing eye of (Google) Waymo...

Nov 05 08:47

Boom and bust of Squid Game memecoin reveal dark side of cryptocurrency

The boom and bust of memecoin sensation Squid Game or Squid revealed the dark side of cryptocurrency.

According to CoinMarketCap pricing, Squid – inspired by the Netflix hit series “Squid Game” – surged more than 230,000 percent in the past week to $2,861.80 only to plunge 100 percent to less than half a cent as of Monday, Nov. 1.

“Betting on the right coin can lead to jaw-dropping riches,” said Antoni Trenchev, co-founder of crypto lender Nexo. “The problem is, what goes up in a straight line tends to retreat in a similar fashion. You hear that some memecoin investors don’t care about the losses. But once the selling starts, a cascading effect can play out. So it’s wise to only use money you can afford to lose.”

Nov 05 06:33

U.S. oil producers pose ’emerging threat’ after OPEC+ defies calls to speed production increases

Major oil producers on Thursday refused to accelerate plans to gradually lift oil production each month, raising the potential for the U.S. to take advantage of prices for the commodity, which trade close to multiyear highs.

Nov 05 06:06

Biden prepares for make or break votes on his Build Back Better and infrastructure bills TODAY despite Manchin's vocal opposition: President's domestic agenda hangs in the balance

The U.S. House of Representatives will convene at 8am Friday in a make of break session for President Biden's massive domestic policy agenda, as Democrats hope they can advance the $1.75 trillion Build Back Better Act and the $1.2 trillion bipartisan infrastructure bill already passed in the Senate in August.

But it comes after they saw a Thursday deadline come and go, the latest in a series of missed targets.

Biden lobbied Democrats in the House on Thursday night to vote 'yes' on his social policy and climate-change bill, as the party tries to recover from sobering state election losses.

Nov 05 06:06

Biden's $1.75 trillion Build Back Better plan will ban religious schools from using infrastructure grants to renovate or repair their facilities

President Biden's $1.75 trillion Build Back Better act will specifically ban religious schools from using infrastructure grants to renovate or better their facilities.

If the infrastructure bill passes the House when it will be voted upon on Friday, then it will ban religiously-affiliated schools or child care services from allocating funds to improve their facilities.

Grant recipients 'may not use the funds for modernization, renovation or repair of facilities that are primarily used for sectarian instruction or religious worship,' the bill says.

In March, Representative Mike Kelly (R-PA.) and junior South Carolina Senator Tim Scott introduced the Child Welfare Inclusion Act, a bill to ensure that both state and local governments cannot discriminate against faith-based adoption and foster care providers by forcing them to choose between offering these vital services and violating their deeply held religious beliefs.

Nov 05 05:59

A GLOBAL CURRENCY FREEFALL IS HERE

Nov 04 14:09

Inflation Will Get Worse Until...

Nov 04 12:25

Get Ready for Food Rationing

Nov 04 12:17

Contracting faster now...

Nov 04 12:01

Americans are getting hammered at the pump! Bank of America predicts crude oil will skyrocket 43% to $120 a barrel by next summer with gas prices already at a seven-year high of $3.40

Americans who are already facing higher gas prices at the pump could feel even more pain in the coming months, a top Bank of America analyst predicts.

In a note this week, Bank of America's head of global commodities Francisco Blanch said he expects the Brent crude benchmark to hit $120 per barrel by July 2022, according to Bloomberg.

That would be a 43 percent increase from current prices, which at around $84 per barrel are at their highest level since 2014.

Gasoline prices, which on Thursday hit a national average of $3.415 per gallon according to the AAA index, are also at their highest level in seven years.

Nov 04 11:36

This is an even bigger disaster in the making

Nov 04 11:16

Exclusive — House Republican Leaders: Biden’s Build Back Better Agenda Is ‘Dead’

House Republicans told Breitbart News in an exclusive interview Wednesday that President Joe Biden’s Build Back Better legislative agenda is “dead” after Tuesday’s Republican landslide elections.

Reps. Drew Ferguson (R-GA); the House Republican chief deputy whip, Kat Cammack (R-FL); and Warren Davidson (R-OH) spoke to Breitbart News after Republicans scored major victories in Virginia, New Jersey, and other elections on Tuesday.

The House Republicans told Breitbart News that the elections serve as a repudiation of Biden’s agenda. Biden has pinned his legislative majority on passing dual infrastructure bills, the $1.2 trillion so-called bipartisan infrastructure bill, or the Infrastructure Investment and Jobs Act, and the $1.75 trillion Build Back Better Act.

Nov 04 08:44

Why Q3 US GDP was actually negative

Nov 04 06:47

Get Ready For Food Rationing

It was a very strange moment when this week the spokesperson for the president defended inflation as a high-class problem. She explained that higher prices are merely a sign that economic activity is picking up. People are buying things and that’s good. Of course that pushes up prices, she said. Just deal with it.

At this point, the White House will say anything. Truth, facts, morality - these things matter less and less in current-day America. Your misery is an illusion. Losing your job because you don’t want the jab? Hey, that is the price you pay for noncompliance. Expect no sympathy from anyone in charge.

The Great Rationing

Nov 04 06:46

Biden’s Nominee Omarova Called the Banks She Would Supervise the “Quintessential A**hole Industry” in a 2019 Feature Documentary

Yesterday, President Biden stunned moderates in his party by formally sending his nomination of Cornell Law Professor Saule Omarova to head the Office of the Comptroller of the Currency (OCC) to the Senate. The OCC regulates national banks, those operating across state lines, which include some of the largest banks in the nation, such as JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup’s Citibank.

Many folks believed that after Omarova’s recent law journal article became widely analyzed, she would remove herself from consideration or Biden would quietly ask her to step aside. As Wall Street On Parade revealed last week, Omarova’s 69-page paper published in the Vanderbilt Law Review in October, proposed the following:

(1) Moving all commercial bank deposits from commercial banks to so-called FedAccounts at the Federal Reserve;

Nov 04 06:44

SQUID GAME CRYPTO TOKEN PLUNGES TO $0 AS CREATORS STEAL MILLIONS FROM INVESTORS

The market value of Squid, a new crypto token based on Netflix’s hit series ‘Squid Game’, has dropped almost to zero after skyrocketing to $2,850 per coin in a day, with investors reporting they are unable to withdraw their funds.

Squid Game Crypto Token Plunges To $0 As Creators Steal Millions From Investors

Squid, initially launched last week at just 1 cent, jumped 7,500% from $37 on October 31 to $2,850 per coin on Monday. However, within just a few minutes, the token’s value collapsed to $0.0008, according to crypto-tracking website CoinMarketCap.

Crypto analysts at Gizmodo say such things happen when cryptocurrency creators abruptly withdraw their tokens to cash in on gullible investors, a mechanism called “rug pull” by crypto investors. Squid’s developers have reportedly gotten away with an estimated $3.38 million.

Nov 04 06:09

San Francisco Safeway Closing Early, Cutting Hours Due to ‘Off the Charts’ Shoplifting

Safeway Supervisor Rafael Mandelman confirmed a San Francisco store will stop its 24-hour service due to shoplifting and crime in the area.

The store directors called Mandelman about theft in the store. Safeway told Mandelman that the “police rarely arrest anyone for a property crime, by the time they make it on the scene.”

They decided the store will stay open from 6 AM to 9 PM.

Nov 04 05:54

Chinese Govt Tells Citizens to Stockpile Food Before Winter As U.S. Govt Mocks Americans Concerned About Shortages

China's government is telling citizens to stockpile food ahead of a possible supply crunch come winter while the US government is mocking Americans for being concerned about shortages and surging inflation.

From Bloomberg, "China Tells Families to Hoard Food for Winter Amid Supply Fears":

A statement from China's government urging local authorities to ensure there was adequate food supply during the winter and encouraging people to stock up on some essentials prompted concerned talk online, with people linking it with the widening coronavirus outbreak, a forecast cold snap, or even rising tensions with Taiwan.

The Ministry of Commerce urged local authorities to stabilize prices and ensure supplies of daily necessities including vegetables this winter and next spring, according to a statement Monday evening. Chinese households were also encouraged to stock up on a certain amount of daily necessities in preparation for the winter months or emergencies.

Nov 04 05:49

The Inspector General’s Report on JPMorgan’s London Whale Is a Guide to What to Expect from Its Probe of the Fed’s Trading Scandal

The Office of Inspector General (OIG) for the Federal Reserve is conducting an investigation of the trading activities that led to the resignations of Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren on September 27. The trading of other Fed officials may also be under the microscope.

The OIG investigations are conducted by federal criminal investigators who have the power to “carry firearms, seek and execute search and arrest warrants, and make arrests without a warrant in certain circumstances.” The investigative findings can be referred to the U.S. Department of Justice for criminal or civil prosecution, if warranted.

Nov 03 10:10

Inflation Is Here, The Fed Is Trapped

Nov 03 10:09

Tesla recalls 11,706 vehicles over Full Self-Driving Beta software bug

Tesla's controversial "Full Self-Driving" feature took another hit on Tuesday. The Texan automaker issued a recall for nearly 12,000 vehicles after an over-the-air software update introduced a new bug that can cause false activations of the cars' forward collision warning and automatic emergency braking (AEB) systems.

According to the safety recall report, the problem affects Models S, X, and 3 vehicles built between 2017 and 2021 and Model Y vehicles built between 2020 and 2021 that are running firmware release 2021.36.5.2. The updated firmware was rolled out to drivers in its beta testing program on October 23 and, once installed, caused a pair of chips to stop talking to each other when the vehicle wakes up from "sentry mode" or "summon standby mode."

That error prevents the neural networks that operate on one of the chips from running consistently, causing it to throw false-positive collision warnings and—more seriously—false-positive AEB activations.

Webmaster's Commentary: 

Nov 03 08:19

The Collapse of Three Cities

Chicago is mostly known for bad things: organized crime, dirty slaughterhouses, and political corruption. The short-lived Starz series Boss was about corruption and starred Kelsey Grammar as Chicago’s mayor. After Baltimore and Detroit, Chicago may be the most notorious city in America.

However, Chicago does have a “Magnificent Mile” of upscale hotels, restaurants, and shops on Michigan Avenue. Like many American cities, it relies on the mile to attract tourists, who want to avoid the “bad” parts of town. What happens when every part of a city goes bad?

Nov 03 07:41

Melt-ups often precede melt-downs.

Nov 03 07:41

Fed RRP refresher

Nov 03 07:34

In 2022, "Things Aren't Gonna Get Done" On An Absolutely Massive Scale

Are we about to witness one of the greatest self-inflicted economic wounds in history?

Vaccine mandate deadlines are starting to arrive, and large numbers of very qualified people are losing their jobs as a result. Of course this comes at a very bad time, because we are already in the midst of the most epic worker shortage in U.S. history. Despite the biggest hiring push that I have ever seen in my entire lifetime, businesses all over America are still desperate for workers. The funny thing is that lots of available workers should theoretically be out there somewhere. The number of Americans that are currently working is still about five million less than the peak that was hit just before the pandemic arrived. So where did all of those missing workers go? That is a question that we desperately need an answer for, because millions of workers seem to have evaporated from the system.

Nov 03 07:31

Manchin Once Again The Royal Thorn In Progressives A#s

Joe Manchin’s firm opposition to President Joe Biden’s $1.75 trillion social spending bill framework on Monday left Democrats contending that the irregular Democratic Senator would change his mind.

In a blunt press conference, Manchin said he would not yield to peer pressure to endorse the more progressive social spending bill and denounced the “shell games, budget gimmicks” used in writing it. The West Virginia Democrat slammed House Democrats’ delay of a bipartisan infrastructure bill he helped draft, declaring it “time to vote.”

Nov 03 07:22

Will Ukraine Run Out Of Energy Soon?

Over the past months, Ukrainian politicians have been persistently throwing red meat to Moscow through the acts of aggression against the Nord Stream-2 pipeline, the recent escalation of the conflict in Donbass with the use of UAVs and the pressure on Ukrainian politician Medvedchuk, who is considered pro-Russian.

All these actions had a shared ultimate objective and were aimed at forcing concessions from Moscow on issues of the Minsk agreements, Crimea’s status and natural gas transit, especially considering Nord Stream 2.

Some Ukrainian experts warned about the danger of this plan, because in fact, there were many risks for Ukraine, and there were almost no counterarguments in case of offensive reaction from the Kremlin.

Nov 03 07:18

Whack-A-Mole: China LNG Prices Soar To A New Record, Crushing Distributor Margins

There is one recurring problem with central planning: the greater the level of intervention, the worse and more widespread the unexpected adverse consequences. Just last week, when we reported that Beijing had imposed price controls on its coal rationing, we said that the problem with such explicit subsidies which create an artificially low price, is that they don't address the underlying problem (too much demand, not enough supply), but instead accelerate hoarding and lead to a run on the artificially underpriced commodity, forcing spikes in another energy commodity while resulting in an even faster drain of the commodity in question, in this case coal. In essence, it's like a giant game of "whack a mole".

Nov 03 07:05

The rent is too damn high!

Nov 03 06:46

Notice Of Price Increases

Nov 03 06:45

THE U.S. SUPPLY CHAIN CRISIS WILL GET WORSE - AS WILL INFLATION

The highly optimized 'lean' transport chain from producers to consumers has clogged up.

This is a consequence of the two shocks the pandemic has caused in consumption patterns. Orders dropped hard at the start on the pandemic when people went into lockdown. A second shock came when consumption recovered to a higher than ever levels.

The higher consumption was not for services as restaurants were often still closed. Instead the money went into buying things. Things that are produced elsewhere.

Nov 03 06:29

Revenge of the Real World

Nov 03 06:19

Civil Unrest and the Chaos of Hyperinflation

Nov 03 06:15

12 Reasons Why Inflation is Here to Stay

Nov 03 06:10

JUST IN: Senate GOP Leaders Hammer Biden Over Build Back Better Bill, New Voting Rights Law

Nov 03 06:07

FARMERS PANIC, CAN'T GET SUPPLIES TO GROW FOOD

Nov 02 21:50

Chinese Govt Tells Citizens to Stockpile Food Before Winter As U.S. Govt Mocks Americans Concerned About Shortages

China's government is telling citizens to stockpile food ahead of a possible supply crunch come winter while the US government is mocking Americans for being concerned about shortages and surging inflation.

Nov 02 17:35

The Great Reset, Part VI: Plans of a Technocratic Elite

By Michael Rectenwald

In previous installments, I introduced the Great Reset idea and treated it in terms of its economic and ideological components. In this, the sixth installment, I will discuss what the Great Reset entails in terms of governance and the Fourth Industrial Revolution (4-IR), closing with remarks about the overall Great Reset project and its implications.

Nov 02 12:30

Apple gets hit with chip shortage, starts cannibalizing iPads – reports

US tech giant Apple has cut its iPad output by half in order to use semiconductor chips, which are currently in short supply, for its iPhone 13 production, media reports state, citing company sources.

Production of iPads was down 50% from the company’s initial plans for September-October, Nikkei Asia reported. The iPad parts were reallocated for the production of the new iPhone 13, along with chips intended for older versions of the smartphone. Both iPad and iPhone lines share a number of components, including core and peripheral chips.

Nov 02 11:21

Here come the private space stations

The next space race will be defined by private companies teaming up to build space stations for NASA and industry.

Why it matters: Operation of the International Space Station is expected to end by 2030, if not before. The future of U.S. astronauts spending any time in orbit depends on these private stations.

What's happening: Multiple companies are now vying for the chance to build private space stations, and more details are emerging about what they're hoping to do in orbit.

Nov 02 11:01

German union calls for strikes at Amazon sites over pay, working conditions

Workers at several Amazon factories in Germany have gone on strike to demand better pay and working conditions from the US online retail giant.

Organized by the Verdi trade union, the country’s second-largest union, the strike started at seven Amazon locations on Monday and Tuesday, according to reports.

The strike would last from between 24 hours to up to three days, said the union, without mentioning the number of staff likely to participate in the walkout.

Verdi said it had called the strike to demand a rise in pay in line with agreements the union has reached with the broader retail and mail-order industries in Germany, accusing the company of failing to meet industry standards for wage increases.

“It is unacceptable that a multinational corporation worth billions and (which) makes money hand over fist still refuses to give employees the wage increases that other companies in the industry pay," Verdi representative Orhan Akman said in a statement.

Nov 02 10:59

Russia ending gas transit through Ukraine escalates risk of WAR, Kiev’s state gas firm claims as Nord Stream 2 tests continue

Cutting Ukraine off from billions of dollars in Russian gas transit fees by striking new deals to export supplies through pipelines that bypass the country could lead to outright conflict, Kiev’s state gas firm has claimed.

On Monday, in an interview with the UK’s Financial Times, the head of Naftogaz, Yuriy Vitrenko, said the new Nord Stream 2 pipeline increased the chance of war between Ukraine and Russia. According to him, circumventing Kiev could leave the nation more vulnerable to a Moscow-ordered “invasion.”

The energy boss claimed that if “there is no physical transit [of gas] through Ukraine, this increases the chances of a full-scale war between Russia and Ukraine with all its consequences.”

Nov 02 10:40

I Was Fired From My Teaching Job for Refusing to Get Vaccinated — Here’s How I Prepared

By Joshua Mawhorter

Until recently, I was a California teacher working in two charter schools, one as a full-time classroom teacher of Government/Economics and sometimes U.S. History, and the other as a part-time independent study teacher who assists families with a program primarily based around homeschooling. I have taught for about five years and love teaching.

Last week, I was fired from one school and put on unpaid administrative leave at the other because of my refusal either to take and demonstrate proof of the COVID-19 vaccine or test weekly. I even filed a religious exemptionthat was rejected...

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