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

ECONOMY

May 01 11:07

Danielle Park: The End of Globalization?

May 01 09:15

The Military Was Just Ordered To Active Duty -- STATESIDE?!

The executive order (fulltext hyperlinked), is dated April 1, 2020 but was revised on the 30th. The same day the lockdown orders — extended on March 29, effectively lapse.

What the hell is going on?

May 01 04:20

EU’re on your own: Dutch PM Rutte says there should be ‘no, no, no’ Covid-19 bailout for Italy & Spain (VIDEO)

As EU top dogs attempt to agree on a Covid-19 rescue package for the worst-affected member states, including Italy and Spain, Dutch PM Mark Rutte publicly reaffirmed his view on the matter to a concerned voter: “No, no, no.”
Rutte was approached on Wednesday by a worker at a waste collection plant, who implored: “Please! Do not give the Italians and Spanish the money!”

“Oh! No, no, no,” Rutte responded in a comment captured by news cameras, adding that he would “take note” of the request, all while offering a thumbs up to the worker.

Webmaster's Commentary: 

Forgive me, but if the EU is going to "hold itself harmless and indemnify itself" against any financial aid for members horribly affected by Covid 19, can anyone tell me, please, what the advantage is for a European Country to be a part of the EU?!?

The logical short answer is, "Absolutely Nothing!!"

May 01 04:16

EU’re on your own: Dutch PM Rutte says there should be ‘no, no, no’ Covid-19 bailout for Italy & Spain (VIDEO)

As EU top dogs attempt to agree on a Covid-19 rescue package for the worst-affected member states, including Italy and Spain, Dutch PM Mark Rutte publicly reaffirmed his view on the matter to a concerned voter: “No, no, no.”
Rutte was approached on Wednesday by a worker at a waste collection plant, who implored: “Please! Do not give the Italians and Spanish the money!”

“Oh! No, no, no,” Rutte responded in a comment captured by news cameras, adding that he would “take note” of the request, all while offering a thumbs up to the worker.

Webmaster's Commentary: 

Forgive me, but if the EU is going to "hold itself harmless and indemnify itself" against any financial aid for members horribly affected by Covid 19, can anyone tell me, please, what the advantage is for a European Country to be a part of the EU?!?

The logical short answer is, "Absolutely Nothing!!"

May 01 04:05

Incredible scenes at Michigan Capitol as anti-lockdown protesters armed with rifles storm Senate gallery while lawmakers wearing BULLETPROOF VESTS vote against extending Gov. Gretchen Whitmer's state of emergency

Lawmakers were seen wearing bulletproof vests as armed protesters stormed Michigan's Capitol in Lansing just moments before the state's House of Representatives denied Gov Gretchen Whitmer's request to extend her state of emergency.

Photos from inside the Michigan House Chamber showed elected officials wearing bulletproof vests while men holding guns stood above them.

'Directly above me, men with rifles yelling at us. Some of my colleagues who own bullet proof vests are wearing them. I have never appreciated our Sergeants-at-Arms more than today,' Sen Dayna Polehanki tweeted Thursday afternoon.

In Michigan, guns are permitted inside the state's Capitol as long as they are visible and carried with lawful intent.

Protesters, who weren't wearing masks, were seen yelling within inches of officers from the Michigan State Police.

Others were heard chanting: 'Let us in! Let us in!'

Webmaster's Commentary: 

Please note; absolutely no one got hurt or injured, but the demonstrators made certain of one thing; their legislators knew that they were firmly, but peacefully, 2nd Amendment Brothers and Sisters.

May 01 04:01

Billionaire hotelier got $126 million in small business loans for his companies after hiring Trump-allied lobbyists for $50,000

Monty Bennett is chairman of the board at Ashford Hospitality Trust and Braemar Hotels & Resorts.

A few weeks before getting loans, his companies hired the former vice chairman of Trump's inaugural committee, and top fundraiser for his re-election campaign.

One Trump Organization lobbyist and fundraiser runs a firm with Trump's impeachment trial counsel.

Disclosures show that a company developing a coronavirus vaccine paid another Trump ally's lobbying firm $30K this year.

One firm is representing a disinfectant company, the makers of a coronavirus testing device, and companies seeking status as an 'essential' business
A former adviser to Mnuchin is working to make 'self-employed, independent contractors and small-business owners are protected' in the pandemic.

Webmaster's Commentary: 

Hey, if you're buying your way into small business loans, you just have to know who to talk to in this country, while many Americans are circling food banks for miles out.

SMOOTH MOVE THERE, MR. PRESIDENT!!!

May 01 03:49

Finland Blocks 100-Tonne Load of Pesticide-Tainted Israeli Oranges

Bromopropylate found in Israeli oranges is a pesticide used in repelling ticks and mites found in citrus fruit. It has been banned throughout the EU since 2011.

Following intensified control of oranges imported from Israel, Finland has discovered the presence of bromopropylate, a pesticide banned in the EU, and blocked a 100-tonne load, national broadcaster Yle reported.

In total, eight of the 16 examined consignments were rejected by the Finnish Customs Authorities. The rest were confirmed as safe for consumers and were green-lit for sale.

“We examine the first consignments that arrive in Finland always at the start of a new harvest season. As we discovered problems with the consignments, we decided to continue with controls until the end of the orange harvest season in Israel. Most likely we will also conduct intensified controls during the next harvest season as well”, Jonna Neffing, head of product safety for Finnish Customs stated in a release on Wednesday.

Webmaster's Commentary: 

Good on Finland; at least THEY care about the quality of food coming into their country.

May 01 03:31

America The Victim: Are Enemies Lining Up For Revenge In The Wake Of COVID-19?

Authored by Philip Giraldi via The Strategic Culture Foundation,

When in trouble politically, governments have traditionally conjured up a foreign enemy to explain why things are going wrong.

Whatever one chooses to believe about the coronavirus, the fact is that it has resulted in considerable political backlash against a number of governments whose behavior has been perceived as either too extreme or too dilatory. Donald Trump’s White House has taken shots from both directions and the response to the disease has also been pilloried due to repeated gaffes by the president himself. The latest mis-spoke, now being framed by Trump’s press secretary as sarcasm, involved a presidential suggestion that one might consider injecting or imbibing disinfectant to treat the disease, either of which could easily prove lethal.

Webmaster's Commentary: 

What we appear to be seeing here, is an out-of-control President, who somehow has never, either in his private life, or his extraordinarily disappointing and thoroughly vilifiable public life, been told that when you screw up, particularly in his role as "Leader of the Free World", one takes responsibility for one's screw ups, listens to true wisdom as to how to fix them, and does the work to do so.

Not this President; he is ready to blame; vilify; sanction; and literally threaten multiple wars across multiple parts of the earth, in order to make it appear that he has utterly no responsibility for the state of the world today, in terms of health, from the global pandemic, and how it has affected the US; geopolitics; or the economy, which has just fallen into the proverbial, undrainable gutter, and may not get up again for a very long, long, time.

I don't know about you, folks, but I cringe at our options this November; on one hand, we have a mentally enfeebled, potential serial sexual predator, who may well, if he wins the election, have to be replaced by his running mate and Vice President shortly after the election, by the invocation of the 25th Amendment to the US Constitution, or... the man currently residing in the oval office, who is pathologically incapable of taking personal, or professional responsibility over the intense, foul harm his presidency has caused this country... and the world.

May 01 03:16

China's 'Belt And Road' Partners Beg Beijing For Bilateral Bailouts

China's cash-strapped partners in their "Belt and Road" (BRI) global development project have been begging Beijing for debt relief amid the coronavirus pandemic, according to the Financial Times.

And according to Chinese policy advisers, the Xi regime is considering several options - including suspending interest payments on loans from the country's financial institutions. That said, outright debt forgiveness is unlikely.

Webmaster's Commentary: 

The Chinese firms handling China's loans will ultimately overcome this issue; but rather than a small "bump in the road" for BRI, it may prove to be more of a giant pothole for China's aspirations.

May 01 03:11

WHO Cuts 80% Of Humanitarian Aid To War-Torn Yemen At Moment COVID-19 Emerges

Authored by Julia Conley via CommonDreams.org,

The United Nations warned Monday that the World Health Organization would likely impose drastic cuts to humanitarian aid in Yemen this week, a move that follows the Trump administration's slashing of funds for the global health agency.

Lise Grande, U.N. humanitarian coordinator for Yemen, said WHO is expected to suspend about 80% of its funding for Yemen's hospitals, primary healthcare programs, and other healthcare needs.

The announcement at a panel hosted by the Center for Strategic and International Studies came two weeks after Yemen reported its first confirmed case of COVID-19, the disease caused by the coronavirus. Although the official number of cases remains low, Al-Monitor reported last week that many cases may have been kept secret from the public and from global health organizations.

Webmaster's Commentary: 

This withholding of funds and aid... is genocide writ large, folks.

May 01 03:09

Yuan Crashes After Trump Weighs Blocking Retirement Fund Access To Chinese Stocks As War Of Words Escalates

Having tumbled yesterday on the first set of headlines reporting on the Trump administration's plans to seek 'COVID reparations' amid accusations of Chinese 'meddling' in the US election (obviously not in favor of Trump), the Chinese yuan legged dramatically lower in this evening's illiquid session which sees most of Asia closed for May Day, after Bloomberg reports that Trump is exploring blocking a government retirement fund from investing in Chinese equities considered a national security risk.

And tonight, Bloomberg reports that, after months of pressure from concerned lawmakers, according to a person familiar with the internal deliberations, the Trump admin is planning an executive order to block a 2017 decision that The Thrift Savings Plan, the federal government’s retirement savings fund, would transfer a massive $50 billion to an international fund which would mirror the MSCI All-Country World Index.

Apr 30 19:55

Pompeo Demands Countries Block Airspace To Iran's 'Terrorist Airline' After Venezuela Deliveries

The US is going on the offensive once again against Venezuela, this time attempting to break up growing Iranian cooperation and assistance to Caracas. The two so-called 'rogue states' recently targeted for US-imposed regime change are helping each other fight coronavirus as well as Washington-led sanctions. Specifically Tehran has ramped up cargo deliveries related getting Venezuela's derelict oil refineries fully operational.

Secretary of State Mike Pompeo in new statements has called on international allies to block airspace specifically for Iran's Mahan Air, currently under US sanctions, and which has in recent days delivered cargoes of "unknown support" to the Venezuelan government, according to Pompeo's words.

Late last week it was revealed Venezuela received a huge boost in the form of oil refinery materials and chemicals to fix the catalytic cracking unit at the 310,000 barrels-per-day Cardon refinery, essential to the nation's gas production.

Webmaster's Commentary: 

Oh holy crud, is Pompeo attempting to pull another "Libya" toward Iran and Venezuela?!?

Please remember what was done here, and why:

Military intervention in Libya

The Wikipedia article goes on to state: "On 19 March 2011, a multi-state NATO-led coalition began a military intervention in Libya, ostensibly to implement United Nations Security Council Resolution 1973, in response to events during the Libyan Civil War. The United Nations' intent and voting was to have "an immediate ceasefire in Libya, including an end to the current attacks against civilians, which it said might constitute crimes against humanity ... imposing a ban on all flights in the country's airspace – a no-fly zone – and tightened sanctions on the [Muammar] Gaddafi regime and its supporters."[26]

American and British naval forces fired over 110 Tomahawk cruise missiles,[27] whereas the French Air Force, British Royal Air Force, and Royal Canadian Air Force[28] undertook sorties across Libya and a naval blockade by Coalition forces.[29] French jets launched air strikes against Libyan Army tanks and vehicles.[30][31] The intervention did not employ foreign ground troops.[32]

The Libyan government response to the campaign was totally ineffectual, with Gaddafi's forces not managing to shoot down a single NATO plane despite the country possessing 30 heavy SAM batteries, 17 medium SAM batteries, 55 light SAM batteries (a total of 400–450 launchers, including 130–150 2K12 Kub launchers and some 9K33 Osa launchers), and 440–600 short-ranged air-defense guns.[14][33] The official names for the interventions by the coalition members are Opération Harmattan by France; Operation Ellamy by the United Kingdom; Operation Mobile for the Canadian participation and Operation Odyssey Dawn for the United States.[34] Italy initially opposed the intervention but then offered to take part in the operations on the condition that NATO took the leadership of the mission instead of individual countries (particularly France). As this condition was later met, Italy shared its bases and intelligence with the allies.[35]"

I would like to remind you of the very sober, and thoroughly terrifying, observation, that those who do not understand history... are doomed to repeat it.

Libya lies in ruins today, still suffering from the horrifically violent upheaval of a civil war which has raged across the country from this military intervention in 2011, well into today, in April of 2020, making it 9 years of civil war.

Can NATO be talked into such a monstrous reality yet again, and if so, could they be demanded/cajoled by Pompeo, in creating another "no-fly", coupled with a "No Sail" zone over Iran and the Persian Gulf, while the OAS is also cajoled/commanded to do the same thing to Venezuela? and if so, how would they enforce it?!?

Please remember: Venezuela left the OAS in April of last year, Venezuela leaves OAS, Claiming that President Trump "Runs Over Member States."

And how will Russia react, if such a thing happens?!?

Remember, Russia assured Iran last year, that if the US attacks it, Iran will not be alone, if the US attacks.

Folks, we are about to be introduced to an alleged, new "Axis of Evil"; I would encourage you to examine those claims before you "jump on the bandwagon here and say, "HELL, yes, let's go to war with Venezuela and Iran, they are colluding like twin halves of an evil empire!!".

Venezuela may not be very useful in a long-term, geopolitical firefight, but Iran is, and would be; Russia's strategy, would then probably be to attempt to make any potential US invasion of Iran draw quick and immediate parallels with the horrific, ultimate ending of the war against Vietnam, in which the US government and military just got "ground down."

The longer I live, the more I understand that both the US government and military, seem to have very difficult challenges in learning from their mistakes; I wish I could see this as being otherwise, but 20th and 21st US history and logic, forbid me from seeing the facts this way.

Apr 30 18:53

Amazon To Use Banned Chinese Firm's Orwellian Thermal Cameras To Scan Workers

A new Reuters investigation published Wednesday has exposed an Amazon-China bombshell, but which perhaps should come as little surprise. Chinese tech utilized in the communist state's own deeply controversial repressive surveillance network monitoring citizens for signs of 'dissent' will now come to an Amazon warehouse near you:

Amazon.com Inc has bought cameras to take temperatures of workers during the coronavirus pandemic from a firm the United States blacklisted over allegations it helped China detain and monitor the Uighurs and other Muslim minorities, three people familiar with the matter told Reuters.

China’s Zhejiang Dahua Technology Co Ltd shipped 1,500 cameras to Amazon this month in a deal valued close to $10 million, one of the people said. At least 500 systems from Dahua - the blacklisted firm - are for Amazon’s use in the United States, another person said.

Webmaster's Commentary: 

Color me completely unsurprised here; it was only a question of when, not if, such technology would find its way to the USA.

Apr 30 18:48

Las Vegas Transforms Casino Into Food Bank As Working Poor Line Up For Miles 

In a post-corona world, Americans returned to some casinos along the Las Vegas Strip, but as we explain in this piece, they are not gambling.

A new, shocking reality has unfolded in a world of social distancing, stay-at-home public health orders, a crashed economy, and tens of millions of people out of work, the rise of America's new breadlines, as we've documented over the last several months, has been reminiscent of the breadlines of the Great Depression.

The Daily Mail, citing local reports from Nevada Public Radio, indicates some casinos in "Sin City" have been transformed into food banks as tens of thousands of working poor have recently become unemployed in the past six weeks thanks to the lockdowns. Many of these folks were employed at casinos, hotels, restaurants, and other non-essential businesses that remain closed.

Webmaster's Commentary: 

And the hell of it is, with election day coming closer and closer, neither of the candidates for President can fix this, come the first of 2021; In spite of the rhetoric on both sides, neither side of the aisle has a real clue as to what the hell is going on, and what, actually, to do to fix it, there is anything which can fix it.

That leads me to a sister article at this site, with the title: The unseen costs of government-forced lockdowns

Apr 30 17:11

The Average Consumer Loses Over $150 a Year Renting a Router From Their ISP

Our analysis of data from major ISPs found that the average customer who rents equipment for their internet service could save upwards of $150 per year by purchasing their own router.

Apr 30 11:04

100 million people in cities around the world will fall into poverty because of coronavirus, World Bank warns

Densely populated cities are on the front line of the outbreak - especially in slums where people are lacking running water, sewage systems or health care, urban experts said.

Those problems will become harder to solve because cities will see a drop of 15 to 25 per cent in tax revenues as a result of the crisis, it is feared.

Apr 30 10:08

Mind The FANMAG Gaps

Apr 30 09:13

A fifth of retailers say they have shut their doors PERMANENTLY because coronavirus has wrecked their business as MPs are warned that a third of the whole UK economy has 'SHUT DOWN'

Adam Marshall, director general of the British Chambers of Commerce, made the astonishing revelation as pressure increased on Boris Johnson to plot a way out of the crisis.

Mr Marshall warned that another third of businesses were functioning 'with some difficulty'.

Retail, hospitality, catering, leisure and manufacturers were among those worst affected he said as he appeared remotely in front of the Business, Energy, and Industrial Strategy committee this morning.

It came as a fifth of retailers suggested they will not reopen after the pandemic has passed, creating huge gaps in an already under-pressure high streets.

Apr 30 09:08

Survey Finds 50 Million Americans Have Lost Their Job In Past 6 Weeks

When Thursday's initial claims report is published at 830am on Thursday, the Dept of Labor will confirm that the current depression is unlike any seen before, with approximately 30 million Americans losing their jobs in the past 6 weeks alone. That, however, may be underestimating the full number of Americans who have lost their jobs by as much as 50%.

According to an online poll by the left-wing Economic Policy Institute, millions of Americans who have been thrown out of work during the coronavirus pandemic have been unable to register for unemployment benefits. The poll found that for every 10 people who have successfully filed unemployment claims, three or four people have been unable to register and another two people have not tried to apply at a time of acute economic crisis.

Apr 30 05:38

Dr. Dan Erickson Interviewed On L.A. Drive Time Radio 4/29/20 (Audio)

Doctors Dan Erickson and Artin Massihi co-own a chain of seven Accelerated Urgent Care centers, from Bakersfield to Temecula. On Wednesday April 29 Dr. Erickson was a guest on KFI AM 640's John and Ken show.
You can listen here. The interview is 17 minutes.

Apr 30 05:25

Horowitz: Shutdown, not coronavirus, is causing loss of medical personnel

How many people will die because state governments are issuing erratic orders to suspend vital medical procedures?

Call it common core science being dictated by common core math of the erratic models and simulations from Drs. Anthony Fauci and Deborah Birx. Most medical care is shut down in the country to deal with the flow of COVID-19 patients predicted by their models. Then when those models fail to materialize and hospitals are empty from the mythical surge, outside of a few hot spots, medical personnel are furloughed and we are left with the worst of both worlds.

Apr 30 04:02

Euro area money supply is booming again

Apr 29 10:25

US economic crisis: GDP shrinks 4.8% in biggest drop since 2008 financial crash

The grim figure marks the first negative GDP reading since the 1.1 percent decline in the first quarter of 2014 and the lowest level since the 8.4 percent plunge in the fourth quarter of 2008 during the worst of the financial crisis. Economist surveyed by Dow Jones had expected the first estimate of GDP to show a 3.5 per cent contraction this time round.

Today's data shows the biggest hits on the economy came from consumer spending, nonresidential fixed investment, exports and inventories.

Consumer spending, which makes up two thirds of GDP, fell 7.6 percent as all nonessential stores were closed and the cornerstone of the US economy was taken out of commission.

Exports dropped 8.7 percent while imports fell 15.3 percent, including a 30 percent drop in services.

Apr 29 10:18

Worldwide 1930s Style Depression Has Begun!

Apr 29 07:05

Boeing Burns Through A Record $4.7BN In Cash As Revenue Crashes 26%, Will Fire 10% Of Workers

The hits just keep on coming for Boeing which last quarter was slammed with the continued grounding of the 737 MAX and now had to contend with the collapse in airline travel due to the coronavirus. As a result, moments ago Boeing reported another dismal earnings report with the following highlights:

Apr 29 06:49

"No Happy Ending For You" - Roubini Explains The Coming Greater Depression Of The 2020s

After the 2007-09 financial crisis, the imbalances and risks pervading the global economy were exacerbated by policy mistakes. So, rather than address the structural problems that the financial collapse and ensuing recession revealed, governments mostly kicked the can down the road, creating major downside risks that made another crisis inevitable. And now that it has arrived, the risks are growing even more acute.

Apr 29 06:41

Third Major Transfer From The Middle Class To The Wealthy In 20 Years

Once again, the Fed Punishes Prudence.

The Fed will deploy more than $1.45 trillion in support of investors in leveraged assets—more than double the size of the 2008 Troubled Asset Relief Program, and over $7,000 for each working-age American. That includes $750 billion to purchase recently downgraded junk bonds and bond exchange-traded funds—an unprecedented intervention in the private credit markets.

Pumping trillions of dollars into corporate credit and even high-yield debt will further distort markets already shaped by a decade of easy-money policies. This is no abstract concern. The result will be an acceleration of two economy-wide transfers of wealth: from the middle class to the affluent and from the cautious to the reckless.

The transfer from the middle class to the wealthy continues a trend begun in the wake of the 2007-09 financial crisis.

Apr 29 05:49

As US Unemployment Skyrockets, ‘Super Wealthy Are Getting Much Richer’

While the economy crashes and tens of millions of Americans lose their jobs, the billionaire class in the US is seeing its wealth skyrocket thanks to the CARES Act government bailout, Alan MacLeod, author, journalist and media analyst and a member of the Glasgow University Media Group, told Sputnik on Tuesday.

A new report by the Institute for Policy Studies has found that between March 18 and April 10, the collective wealth of American billionaires increased by $282 billion, or 9.5%. The country’s richest have continued to become richer as tens of millions of Americans lose their jobs, and the US gross domestic product will shrink by 40% this quarter, according to a report by CNBC.

Apr 29 04:57

Trump Orders Meat Processors Not to Close in Move to Buttress US Food Supply

On Tuesday, US President Donald Trump invoked the Defense Production Act, signing a presidential order decreeing that meat packing plants must stay open to buttress the nation’s food supply amid widespread disruptions from the COVID-19 pandemic.

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