ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Sep 16 06:28

Demystifying The Global US Dollar Shortage

Trade between Asia and Europe has dimmed considerably. We know that from the fact Germany and China are the two countries out of the majors struggling the most right now. As a consequence of the slowing, shipping companies have had to make adjustments to their fleet schedules over and above normal seasonal variances.

It was reported last week that Maersk and MPC would “temporarily suspend” their sailings on one of the biggest routes between Europe and Asia.

Sep 16 06:25

The US dollar is sewn into Argentina's economy and its culture

Lorenza Romero's stationary shop on Monroe Avenue is painted red on the outside, with a wide window and a glass-covered counter filled with banknotes from around the world. It's her son's collection, and all but one currency is out of circulation - the United States dollar bill.

"That's the one that drives people crazy here," she says. "Their own currency doesn't count for them."

The 72-year-old grandmother's observation exposes what is a raw nerve for many Argentines. The country's official, sovereign currency is the peso - people earn in it, and they spend with it - but it's the US dollar that defines value here.

Sep 16 06:05

Trump says 'not fair' that U.S. can't sell F-35s to Turkey

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday it is “not fair” to either Turkey or the United States that Washington cannot sell Ankara billions of dollars worth of F-35 fighter jets after it bought a Russian air defense system.

Turkey started taking delivery of Russia’s S-400 air defense system last week in defiance of U.S. warnings that doing so would mean the Pentagon would kick it out of the F-35 stealth fighter program and that it could be subject to sanctions.

Washington’s concern is that deploying the S-400 with the F-35 would allow Russia to gain too much inside information of the stealth system.

Buying military equipment from Russia also leaves the NATO member liable to U.S. sanctions retribution under a 2017 law known as the Countering America’s Adversaries Through Sanctions Act, or CAATSA.

Webmaster's Commentary: 

Mr. President, please, stop with the bloody whining, already!!

And talk to your good buds at the major defense departments companies who love your administration, in light of the reality that you have so vigorously taken up the mantle of "Merchant of Death in Chief" in their behalf, and tell them to fix the problems, which make US weaponry less competitive than that of Russia and China, OR ELSE!!!

Of course, Mr. President, you have utterly no desire to do this, nor will you, against your campaign contributors, who most likely will arrange for your 2020 victory as a "slam dunk".

So, the problems with American weapons will never, really get fixed; and it will be our kids in uniform who may well suffer and die because of this.

Were I the President, sir, I would never want this on my conscience or soul, that I had done nothing to protect American military from weaponry which should have been fixed, but was not; and yet, these people are the most likely going to be victims of flawed US weaponry.

Sep 16 05:51

Has The Narrative Been All Priced In?

Sep 16 04:46

Yemen's military warns foreigners to leave Saudi oil plants

Yemen's military has warned foreigners in Saudi Arabia to leave Aramco's oil processing plants, saying they are still a target and can be attacked "at any moment."

The warning came after Houthis and their allies in the Yemeni army deployed as many as 10 drones to bomb Abqaiq and Khurais oil facilities run by the Saudi state-owned oil company before dawn Saturday.

Spokesman for the Yemeni armed forces, General Yahya Sare'a, said in a tweet Monday that the attacks in the kingdom's eastern region had been carried out by drones with normal and jet engines.

He said Saudi Arabia should stop its "aggression and blockade on Yemen," or see the Yemeni army hit the kingdom "anywhere and anytime" it chooses.

Webmaster's Commentary: 

Even though the Butcher of Yemen I(Prince Bin Salman) has made the statement publicly, that the Saudis can handle these attacks on their own MBS tells Trump Saudi 'willing and able' to respond to attacks, this statement by Houthi rebels, telling foreign workers to get out of Saudi Arabia ASAP, most probably means that another attack is imminent.

Should such a scenario happen, the Israeli government will be high fiving themselves, big-time; because now, there is a proxy army to take down Iran, and not a single drop of blood of Israeli blood will be shed.

Should it happen, I would strongly suggest, that the US will be joining forces with Saudi Arabia, and start bombing Iran, with a potential decap strike against Tehran.

I would, however, suggest to the Adult in the Room in the Bowels of Power, in Saudi Arabia; Israel; or the US, that such a move would trigger Russia to enter the fray on Iran's side, and that... would completely change the math of any potential outcome.

Sep 16 04:27

Drone Attack on Saudi Oil Field Seen as ‘Pearl Harbor’ Moment

For many of the national security teams that monitor threats on the U.S., the apparent drone strike Saturday on the heart of Saudi Arabia’s oil production facilities was the realization of their worst fears.

Based on early reports, multiple relatively inexpensive drone devices were able to pierce Saudi defenses in a way that a traditional air force could not: flying long distances to drop potent bombs that apparently set vast portions of the Saudi petroleum infrastructure ablaze.

The attack, for which Houthi rebels battling Saudi Arabia in Yemen took credit, underscored the fears raised by U.S. security officials and experts in terrorism about the rapid evolution of technologies allowing expanded unmanned flight.

Webmaster's Commentary: 

To the author of this article, I would strongly and politely like to suggest that these actions, if in fact taken by the Houthis, are not Saudi Arabia "Pearl Harbor Moment."

It is, rather, retaliation for the US aided and abetted Saudi war against Yemen, which has assassinated thousands of Yemeni children, women, and the medically fragile elderly; I am not justifying the violence here; I am simply pointing out how this may well have been the real motivation for the attack, if, as has been stated, Houthi rebels actually pulled this off.

And if the US and Saudi intelligence infrastructure were so myopic, that the heads of these agencies, never thought that the Houthis would ever retaliate in this way, they need to be handed their collective hats.

Sep 16 04:16

Iran To Release UK-Flagged Tanker As Rick Perry "Wholeheartedly Condemns" Attack On Saudi Arabia

Washington has blamed Iran for this weekend's attack on Saudi Arabia's oil production facilities, which are expected to cut Saudi oil output in half until repairs can be completed. The attack was purportedly carried out by Yemen's Houthi rebels, who have a long history of launching attacks on Saudi soil. But President Trump and Secretary of State Mike Pompeo have placed blame for the attacks squarely on the Iranians. As we noted over the weekend, the timing of the attack is suspicious, coming as the kingdom renews its push to float 5% of Aramco in what's expected to be the largest-ever IPO. The offering would benefit from higher oil prices. Many have questioned why Saudi Arabia's missile defense capabilities failed to stop the attack.

Iran has denied any responsibility for the attack.

This weekend's attack wiped out 5% of the world's oil supplies.

Webmaster's Commentary: 

I simply have to ask; would Iranian leadership do something so incredibly stupid that it could cause an outcry which could actually lead to a shooting war here?!?

The short answer is, they would not; these attacks are being "stage managed", very carefully, to give the "illusion" that the attacks were actual provocations by the Iranian against Saudi Arabia, and that there is no other explanation.

Folks, I hate to break it to you; but this week is shaping up as a lousy one for peace, and honorable, reasonable negotiations, and reduced tensions in both the Middle East and the world.

Sep 16 04:10

Iran War Imminent? Trump Says US "Locked And Loaded" To Respond To Saudi Attack

Just as the price of oil was settling down from its record surge, it spiked once again, following a tweet by president Trump which has made war with Iran virtually inevitable.

Just before 7pm, Trump tweeted that "Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!"

Setting aside the implicit admission that US foreign policy in the middle-east is now inexplicably run by Saudi Arabia, what is far more troubling is Trump's statement that the US military is "locked and loaded", and set to attack the country which instigated the attack on Saudi facilities, which according to Mike Pompeo was not Yemen, and its Houthi rebels, but rather Iran.

Webmaster's Commentary: 

What concerns me the most greatly, is the rapidity with which this scenario is being shoved down the world's collective gullet, even though Houthi spokespeople have claimed claim responsibility for these strikes.

Various elements in the bowels of power, both in Tel Aviv, and the US, wants to see this happen, and quickly, perhaps as a misdirection for Israeli voters when they go to the polls on the 17th.

It is absolutely not the Iranians who benefit from these charges; it is absolutely not the Saudi monarchy, or people, who benefit from these acts.

But the one country whose leadership does benefit,and that... is Israel's current leadership.

With its national elections coming up tomorrow, and Benjamin Netanyahu struggling to insure that the Israeli public will vote him in again, and that is Benjamin Netanyahu, showing how "butch" he is, by demanding that the US go to war with Iran, and immediately.

Would the IDF and Mossad conjure a "false flag" attack against Saudi Arabia's largest petroleum refining plants, ahead of their election, to make Netanyahu "look more appealing" to his voters, because he got the US to rain literal fire and brimstone on Iran?!?

Unfortunately, the short answer is, HELL, yes.

I highly suspect that the Butcher of Yemen is feeling at least some heat, as Trump challenges him to make a statement that Saudi Arabia were attacked by Iran, and quickly, even though he may, through his intelligence resources, well know better.

Sep 15 14:17

Trump on Interest Rates -OMG!

Sep 15 12:05

What to do with a problem like Japan?

Sep 15 09:18

How to secure our investments?

Sep 15 09:02

Oil Prices May Slump Heavily In 2020

Sep 15 09:02

Lincoln County War

Intervention by the US Cavalry from Fort Stanton under Colonel Dudley with Gatling guns ended The Lincoln County War

Sep 15 08:55

Washington and the Whiskey Rebellion Summary

Washington had a personal interest in this. His slave produced hooch couldn't compete against the corn liqour made up in the Mountains. The battle still goes on today.

It was the late 18th century and the national government was cash-strapped. In order to raise money, Congress passed a 25% excise (sales) tax on liquor. Anger about the tax was widespread along the frontier from Pennsylvania to Georgia. Many Americans along the frontier resented the tax from a distant legislature. There were outbreaks of opposition. In rural areas where no one was willing to serve as tax collector, the taxes went unpaid.

Sep 15 08:39

Attack on Saudi oil field a game-changer in Gulf confrontation Analysis by Tim Lister, CNN Updated 9:29 AM ET, Sun September 15, 2019 Reporter: 'Startlingly dangerous moment' in Middle East condor diverted flight map Spilled coffee diverted transatlanti

It is a game changer all right. A couple more strikes like this and it will be the end of the House of Saud!

(CNN)The attack on the world's largest oil processing plant early Saturday morning is a dramatic escalation in the confrontation between Iran and Saudi Arabia -- even if the Iranians didn't fire the drones or missiles responsible.

Several projectiles struck the Abiqaiq plant, starting a series of fires that quickly took out nearly half Saudi's oil production -- 5% of the global daily output -- and sparking fears about the security of the world's oil supplies.
It's unclear when Abiqaiq, which is operated by Saudi giant Aramco, will be fully operational again.

Sep 15 07:36

Liquidity Crisis & Financial Crash

Sep 15 07:14

There’s Nothing Natural About Socialism

Sep 15 07:11

mran Khan Doesn't Rule Out Pakistan's Possible War With India Going Nuclear

When asked if Pakistan would hit India with nuclear weapons in case of a large-scale conflict, Khan first ruled out his country initiating the attack.

“Pakistan would never start a war, and I am clear: I am a pacifist. I am anti-war,” he said.

However, Khan added that when two nuclear-armed states “fight a conventional war, there is every possibility that it is going to end up in a nuclear war.”

“If say Pakistan, God forbid, we are fighting a conventional war, we are losing, and if a country is stuck between the choice: either you surrender or you fight ‘til death for your freedom – I know Pakistanis will fight to death for their freedom,” said Pakistan’s PM.

Khan has repeatedly warned in recent weeks that foreign powers, along with the UN, need to intervene in the standoff between India and Pakistan over disputed Kashmir.

Webmaster's Commentary: 

I hope that no unhinged Pakistani group, or movement, is about to "take care of direct military action" against india, in behalf of Pakistan; I very much respect Khan's performance so far as Pakistan's President, but right now, he needs to reach out to the most disaffected, and despairing of his own people, and those in Kashmir, by preaching hope, moderation, and ultimately, a political solution here.

Sep 15 07:06

Breaking: US is Ready to Tap Strategic Petroleum Reserve Amid Attacks on Saudi Oil Facilities

Two key oil processing plants in Saudi Arabia were attacked by drones on Saturday causing the interruption of about half of the company's total daily oil output. The attacks were claimed by the Houthi movement of Yemen.

The United States is ready to tap into the Strategic Petroleum Reserve if necessary in order to rebalance the global energy supply in the wake of the drone attacks on major Saudi oil facilities, White House adviser Kellyanne Conway said in an interview with "Fox News Sunday."

Conway hinted at the possibility of a meeting between President Donald Trump and the Iranian leadership on the margins of the UN General Assembly in New York. But she added that the chances of such a meeting happening are now in doubt due to the drone attacks.

Webmaster's Commentary: 

The ever fact-free, unhinged, surveilled State of America is probably happy that these attacks happened, because it gives President Trump the justification for not meeting the Iranian leadership at the UN general assembly.

Sep 15 06:44

Pod People - The Future Of Housing In America's 'Sharing' Economy

Webmaster's Commentary: 

The images depicted here, tell the story; and that story is brutally anti-human; soul-crushing ; and horrific in the extreme.

Sep 15 06:10

De-Dollarization: Europe Joins the Party

Sep 15 05:56

This Usually Happens Right Before Recessions

Sep 15 04:43

De-Dollarization: Europe Joins The Party

Authored by Ronald-Peter Stoferle via The Mises Institute,

The ongoing “World War of Currencies”, as the German journalist Daniel D. Eckert called it, the battle for the future of the world monetary system is not a shallow action film but more like Game of Thrones – a complex series with hundreds of actors and locations, stretching over decades and demanding full concentration from the viewer.

Sep 15 04:29

ZANTAC HAS LOW LEVELS OF A CANCER-CAUSING CHEMICAL, THE F.D.A. SAYS

SOURCE: NYTIMES.COM

The Food and Drug Administration said on Friday that it had detected low levels of a cancer-causing contaminant in samples of heartburn medicines containing the drug commonly known as Zantac.

It was advising patients who take over-the-counter versions to consider switching to a different medication.

But no recalls have been initiated, and the agency said patients who take prescription versions of the drug, known as ranitidine, should consult with their doctors before stopping. The European Medicines Agency is also looking into the issue.

Webmaster's Commentary: 

WOW, just great!

And one has to wonder just how long the FDA knew about this, before they created this announcement?!? (and dumped on a Friday, of course, when fewer people were likely to read it)

This is yet one more example of the FDA allowing private profits to trump public health responsibility.

One has to wonder just how many members of the FDA have stocks in the firm that produces Zantac (it's Sanofi Consumer Healthcare, making $41.8 billion annually BTW).

Information like this is power for the end consumer; you have to check the risk/benefit ratio of any medication you may be taking, or have been subscribed.

Sep 15 03:51

HARVARD ADMITS TO $9 MILLION DONATION FROM JEFFREY EPSTEIN

SOURCE: ZEROHEDGE

Harvard University on Thursday night acknowledged that it had taken in approximately $9 million in donations from pedophile and alleged child sex-trafficker Jeffrey Epstein over the course of a decade ending in 2007, according to the Boston Globe.

The donations, the bulk of which occurred while former US Treasury Secretary Larry Summers served as the university's President, provides clarity after Harvard maintained that it did not take money from Epstein after 2007 - just one year before he pleaded guilty to soliciting a minor for prostitution and was sentenced to 13 months in jail with partial 'work' release.

"Jeffrey Epstein’s crimes were repulsive and reprehensible. I profoundly regret Harvard’s past association with him," Bacow continued.

Webmaster's Commentary: 

Funny, isn't it, that in this country, no matter how dirty the money may have been originally, it still buys those willing to do some horrific things to get it, "street cred", so that any university can bestow the "honor" of that person's donation, and get them positively noticed and acclaimed.

IF I were one of the bigwig attorneys for Harvard right now, talking to one of my tens of "Crisis Management Counselors" on my speed dial, I would be asking them, immediately, about creating a Harvard-inspired program, nationally, to stop child trafficking in its tracks, and find ways of making this program incredibly successful.

This issue has been a curse on this country for way too long a time, even from the times of the Franklin Scandal.

The Franklin Scandal; Still Evil After All these Years.

I know this will happen only when pigs discover they are aerodynamic; And I say this, because Harvard will most likely continue to support the monied who contribute to its noble causes, no matter where the money actually came from.

Sep 15 03:10

BUSTED? JUAN GUAIDO POSES WITH NOTORIOUS COLOMBIAN DRUG CARTEL AT VENEZUELA BORDER IN LEAKED PHOTOS

SOURCE: RT

Juan Guaido may have some explaining to do. Photos have emerged depicting the Venezuelan opposition leader with gang members, confirmed by Colombian police to be leaders in the violent drug trafficking outfit, Los Rastrojos.
The photos first appeared in a tweet on Friday, shared by Wilfredo Canizares of the Fundacion Progresar (Progress Foundation), a Colombian NGO. They depict the US-sponsored “interim president” of Venezuela Juan Guaido posing chummily with two known drug lords, known under the aliases “The Brother,” and “The Minor.”

Canizares said the photos prove that Guaido “coordinated” with the gang to cross the border into Colombia in February, where he attended a Live Aid-style concert organized by billionaire philanthropist Richard Branson, hoping to gin up international support for the opposition’s cause.

Webmaster's Commentary: 

So, Guaido was this Administration's "chosen one", to lead Columbia out of its current state of of chaos?!? IF these allegations are true, they would demonstrate that be they Democrats or Republicans, or "the US's anointed leaders" over seas, they just "can't get along" without mainlining that great "high" of freshly laundered drug money.

The Jorge Cabrera Scandal: First Lady Photo-OP with Convicted Cocaine Dealer

Sep 14 10:52

Big Banks Won’t Touch Crypto Clients – But These Smaller Banks Will

By Lubomir Tassev

Cryptocurrencies undoubtedly bring new business opportunities. The expanding industry around digital assets and its customers need more and more services that traditional sectors can provide. Banking is often a bottleneck in the crypto space as most traditional institutions are still reluctant to get their feet wet. Smaller banks, however, are more willing to occupy this niche and reap the rewards...

Sep 14 08:29

Short NYC?

Sep 14 08:29

Why Investors Might Not Want Rate Cuts

Sep 14 08:25

Eisenhower Farewell Address (Best Quality) - 'Military Industrial Complex' WARNING

The love affair with big MIC has got to end. They have murdered over 30 million innocent civilians since the end of WW2.
They have sucked our economy dry. They have ruined our reputation as a just nation.
They are complicit in the assassination of JFK.
They are complicit in 911.
They have gone to war without a Constitutional Declaration of War since 1950.
The US Military is the greatest threat to our Constitution and Our Country!

Sep 14 08:19

War Is A Racket By Major General Smedley Butler

“I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street.

Sep 14 08:17

The Founding Fathers Warned Against Standing Armies

The Founding Fathers distrusted standing armies.

For example, James Madison said:

In time of actual war, great discretionary powers are constantly given to the Executive Magistrate. Constant apprehension of War, has the same tendency to render the head too large for the body. A standing military force, with an overgrown Executive will not long be safe companions to liberty. The means of defence against foreign danger, have been always the instruments of tyranny at home. Among the Romans it was a standing maxim to excite a war, whenever a revolt was apprehended. Throughout all Europe, the armies kept up under the pretext of defending, have enslaved the people.

Madison also noted that never-ending war tends to destroy both liberty and prosperity:

Sep 14 07:52

DRONE ATTACK ON SAUDI OIL FACILITIES IS MAJOR ESCALATION: The full details of the most recent attack on September 14 were not available on Saturday morning and it was not clear where the drones had come from.BY SETH J. FRANTZMAN SEPTEMBER 14, 2019 12:48

The attacks began around four in the morning; video showed massive fires, billowing smoke and locals reported explosions. Iranian media implied that the attacks were carried out by Houthi rebels in Yemen, who have been backed by Theran. However the facilities that were struck are in northeastern Saudi Arabia, closer to Bahrain and Qatar. A drone would have to fly 1,000 km. to reach the facilities.

But the attack was also a serious escalation. This is the third attack of this kind, a long-range strike on key oil infrastructure. It shows that ability of the drone operator to carry out precision attacks. It also shows they have improve the ordnance carried by the drones, and that the drones can fly long-distances.

Webmaster's Commentary: 

This coverage, by jpost.com, is a far more sane, and nuanced article than those hitting other blogs on this topic, and one thing was made very clear here; at this moment, no one knows who was to blame. However, the Daily Mail didn't hesitate to run with the following headline:

Iran-backed militants admit drone swarm strike on world's largest oil processing plant in Saudi and at second nearby facility sparking huge fires as tensions reach boiling point following tanker attacks

The article then went on to state the following: 'A military spokesman for Yemen's Houthi rebels, considered an Iranian proxy force in the region, has claimed responsibility for today's attacks on Abqaiq and Khurais, two major facilities in eastern Saudi Arabia run by state-owned oil giant Aramco.'

OK, Henry Martin, and FHP, if the guy was stating this information publicly, who, please, was he?!?

Because forgive me; but one thing I learned in my civics class, was that reporting was all about "Who, Where, What, Why, and How." How can people believe this codswallop when you have refused to let your readers know who actually made this statement?!?

PressTV.com gave an interesting touch, by claiming that the attacks didn't come from Iran, but rather by Houthi rebels, and here is the way they covered it: Fires engulf Saudi Arabia's oil facilities after drone attacks

This article (unlike Daily Mail), then states the following: 'The movement's military spokesman General Yahya Sare'e said 10 drones were deployed against the sites in Abqaiq and Khurais, and pledged to widen the range of attacks on Saudi Arabia.

Now, this guy appears to have been around for a long time, as the public face of the movement; Image: General Yahya Sare'eHe looks to be somewhere in his later 30s, and has the face, and demeanor, of someone intimately acquainted with war.

But the questions which need answering, include:

1. Why would Iran want to be blamed for attacking Saudi Arabia right now?!?
This makes utterly zero sense. The Iranian leadership understands that if, somehow, they are being blamed for this attack, and "the crud" of these accusations is somehow made to stick it, will hasten a US/Saudi /(and, probably covert) Israeli attack against it.

2. Where are these sophisticated drones in the the rebels' arsenal, actually being made?!? Are they truly Yemeni created home made weapons, or from other Shiaa supporting enclaves in the Middle East?

But there is one thing I do know; a couple of days ago, Netanyahu was in Moscow, and made the following statement: Meeting Putin after 3-hour wait, Netanyahu vows to stop Iran’s attacks on Israel:

On pre-election trip with an eye on Russian-born voters, PM says Tehran’s presence in Syria is ‘intolerable threat,’ credits his ties with Putin for best Moscow-Jerusalem relations

But the problem is, these attacks have been against Syria; not against Iran proper.

Painting a drone with national colors of an enemy country, or any enemy group, is no big deal; but the big question is, did Netanyahu make this call because he's three days away from the National Election in Israel (and with all Knesset seats up for grabs, I might add), and is looking to have a full-scale war against Syria by the time Monday rolls around?!?

In looking at this, in the most sang-froid way possible; cui bene?!? Who benefits?!?

This doesn't benefit the Houthi rebels, because Saudi Arabia and the US will pound down harder and harder on Yemen.

Iran doesn't benefit, because characterizing these Houthi rebels as being "pro-Iranian" simply brings the date of a serious air/land conflict between Iran, the US and Saudi Arabia ever closer, with Russia most probably taking Iran's side in the conflict.

But Israel, mounting a full-tilt boogie attack by bombing Saudi Arabia's oil structure,, with falsely colored drones, and blaming the alleged strike against Yemen, could definitely benefit Israel, by creating an environment ripe for escalation, in Syria, and quickly.

Please remember that word, "quickly"; if I am correct, we could see the events in the Middle East stumbling out of control as quickly as tomorrow, 15 September. Folks, I am so hoping that I am dead wrong on this, but the degree to which Israel is playing its hand in Syria, so close to the Israeli election, does give me cause for concern here.

Sep 13 18:04

Russia will only borrow in currencies other than US dollar – finance minister

Russia will not take out loans in US dollars for the remainder of this year and the whole of 2020, turning instead to the yuan and euro, according to the Finance Ministry.

“We will borrow in currencies other than the dollar,” Russian Finance Minister Anton Siluanov said on Thursday. He added that the country will not be taking any more loans in 2019.

“This year we have no plans to borrow any more on foreign markets, we have fulfilled our program and even overfulfilled it. Next year, we’ll see. Probably it will be not only in euro but maybe in Chinese yuan,” Siluanov stated.

Sep 13 12:48

The price of gold just hit a record high

Sep 13 09:01

You Can’t Create Jobs by Outlawing Work

By Michael Munger

The difference between contractors and employees is important. A “contractor,” from the Latin verb to draw together different things, is someone who brings their own tools and skills, and does a (relatively) brief stint of work in a defined task. An “employee,” from the Latin verb to be entangled, associated, or connected, is someone who predictably works at one job, often using the tools or equipment of the employer, over an indefinite and possibly quite long period...

The notion that the job is going to be there no matter how it is regulated, and the only issue is how to redistribute the surplus so the worker gets more, simply misunderstands the fragility of markets and entrepreneurial energy. You can kill the process of innovation, and harm the very workers you think you are trying to help...

Sep 13 08:42

5 of the Fastest Growing Jobs in the US That Pay Great Salaries

By Jon Miltimore

The US Bureau of Labor Statistics (BLS) recently offered a 10-year economic forecast that outlines what economists predict the job market to do over the next decade.

While trying to predict the economic future can be tricky, the forecasts can be instructive, particularly for young people deciding what kind of career they’d like to pursue...

Sep 13 08:21

De-Dollarization: Europe Joins the Party

By Ronald-Peter Stöferle

The ongoing “World War of Currencies”, as the German journalist Daniel D. Eckert called it, the battle for the future of the world monetary system is not a shallow action film but more like Game of Thrones – a complex series with hundreds of actors and locations, stretching over decades and demanding full concentration from the viewer.

The bottom line is that what has been true for decades still applies. The US dollar continues to enjoy the confidence of markets, governments, and central banks. But faith in the US dollar weakens a little every year. Europe, China, Russia and many small countries set new initiatives every year to make themselves independent. And gold, too, plays a major role in this slow departure from the US dollar. But for the world financial system, none of their currencies offer a viable, fully-fledged alternative to the US dollar yet, which is why any news of the death of the US dollar is definitely exaggerated...

Sep 13 06:48

The madness of central bankers

Sep 13 06:48

America Needs Jobs, Not Chinese Imports

Sep 13 04:41

Draghi's New ECB QE4EVA Is A Mistake. Here Is What He Should Have Done...

Authored by Daniel Lacalle via DLacalle.com,

The ECB is creating a dangerous bubble and should not have cut rates by 10bps nor added a new purchase program of €20 billion per month.

1) Eurozone states are already financing themselves at negative rates. There is no need for lower rates and this disguises real risk.

This has saved governments more than 1 trillion euro in interest expenses (handelsblatt.com/today/finance/…)

2) The ECB has not abandoned its stimulus. It repurchases all maturities, launched a liquidity injection (TLTRO) in March 2019 and balance sheet stands at almost 40% of eurozone GDP.

3) Excess liquidity is 1.7 trillion euro. More liquidity does not lead agents to spend/invest more.

There is no higher solvent credit demand because monetary policy perpetuates overcapacity and zombifies the economy. Share of zombie companies has soared c30% since 2013. (BIS)

Webmaster's Commentary: 

To all those investors with intense exposure to the Euro right now, you may want to rethink your options.

Sep 13 04:33

In Show Of "Goodwill", Beijing Exempts US Pork, Soybeans From Trade-War Tariffs

Confirming reports from earlier in the week, Beijing announced on Friday that it would indeed encourage state-owned companies to begin "goodwill" purchases of US soybeans, pork and other farm goods (desperately needed by China) by imposing waivers from trade-war tariffs, according to the South China Morning Post.

The decision was characterized as the latest in a series of tit-for-tat trade war deescalations by Beijing and Washington (though Beijing is struggling with a deadly outbreak of swine flu that has killed off nearly one-third of the country's pigs, and also has been struggling to find replacements to source soybeans, it's funny how importing stuff they need has been characterized as "goodwill").

Webmaster's Commentary: 

Mr. President, the ball is in your court; please do not lose focus on getting this resolved in a moral, intelligent, and win/win manner.

Sep 12 15:05

Oil Demand Growth Weakest In Nearly A Decade

Sep 12 12:00

Indian Military Waiting for Government Order to Retrieve Pakistan's Part of Kashmir - Army Chief

New Delhi (Sputnik): A day ahead of a big rally by Pakistani Prime Minister Imran Khan in Muzaffarabad - the capital of Pakistan-administered Kashmir - India has made a strong statement about retrieving Kashmir from Islamabad.

With some Indian ministers underlining the need to discuss Pakistani-administered Kashmir, the Indian Army chief has said the troops always remain ready mode whenever the government wants them to go ahead and retrieve that side of Kashmir.

General Bipin Rawat’s remark came days after two key ministers including the Indian Defence Minister Rajnath Singh, touched upon the issue of Pakistan-administered Kashmir.

"The government takes action in such matters. Institutions of the country will work as per the orders of the government. The army is always ready", said General Rawat while replying to the media on Thursday.

Webmaster's Commentary: 

IF Pakistan decides to do this, SOME adult in the room, on both India's and Pakistan's side needs to get the leadership in both countries to "cage the rage, and engage;" calm moral leadership is desperately required to keep these countries from starting World War III.

Sep 12 11:20

Eurasian Politics On The Cusp Of Change

Authored by M.K. Bhadrakumar via IndianPunchline.com,

The meeting of the foreign and defense ministers of Russia and France in the 2+2 format in Moscow on September 9 signified not only a warming up of relations between the two countries but a reset in Russia’s ties with the West.

The last time a Franco-Russian event in the 2+2 format took place was in October 2012 in Paris. A year later, the conflict erupted in Ukraine and the European Union imposed sanctions against Russia. The trajectory since then appears to be reversing its course.

The first signs appeared during the G7 summit in Biarritz on 24-26 August where the schism between the West and Russia significantly narrowed. The US President Donald Trump announced that he intended to invite Russian President Vladimir Putin to next year’s G7 at Miami.

Webmaster's Commentary: 

Any possible thaw in European and US relations with Russia, is a very positive thing right now; Macron should be applauded for taking these steps.

Sep 12 11:20

Eurasian Politics On The Cusp Of Change

Authored by M.K. Bhadrakumar via IndianPunchline.com,

The meeting of the foreign and defense ministers of Russia and France in the 2+2 format in Moscow on September 9 signified not only a warming up of relations between the two countries but a reset in Russia’s ties with the West.

The last time a Franco-Russian event in the 2+2 format took place was in October 2012 in Paris. A year later, the conflict erupted in Ukraine and the European Union imposed sanctions against Russia. The trajectory since then appears to be reversing its course.

The first signs appeared during the G7 summit in Biarritz on 24-26 August where the schism between the West and Russia significantly narrowed. The US President Donald Trump announced that he intended to invite Russian President Vladimir Putin to next year’s G7 at Miami.

Webmaster's Commentary: 

Any possible thaw in European and US relations with Russia, is a very positive thing right now; Macron should be applauded for taking these steps.

Sep 12 11:07

"You're Forecasting A Revolution" - Household Leverage Ratios By Wealth Distribution

Authored by Global Macro Monitor,

We are just starting to play with the wealth distribution data and will have much more coming your way. What we have seen so far is shocking.

The distribution of wealth has deteriorated significantly over the past 20 years and is now so skewed toward the top that average U.S. household wealth is close to $1 million, though the median household wealth is only around $70k.

In fact, the aggregate level of wealth of the bottom 50 percent peaked in Q1 2000, the height of the dot.com bubble, and is down almost 10 percent in nominal terms. Whereas, the aggregate wealth level of the top 1 percent is up almost 120 percent over the same period.

If I brought a number or a forecast like that to my manager when I was a very young economist working on the World Bank’s capital flows model back in the day, he would say,

“You are forecasting revolution.”

Webmaster's Commentary: 

The numbers pretty much always tell the story; and these numbers are downright terrifying.

Sep 12 10:57

10 Mistakes Young Professionals Make While Job Hunting

By Katy Gambella

As a manager for a job placement company, I oversee a lot of talent searches for entry/junior employees.

This means I get to interact with a lot of young professionals and have a front-row seat for one of the most exciting (and often overwhelming) times for burgeoning professionals: the job search.

As you can imagine, I’ve seen some really interesting things. Like, reality television interesting. Some of it is beautiful and inspiring and gives me hope for the future of freedom. And some of it…well…it makes me want to bang my head against a wall...

Sep 12 10:36

Like Most Government Central-Planning Schemes, Zoning Laws Raise the Cost of Living

By Chris Calton

In the classic video game Sim City, players acting as the mayor of a simulated city begin by allocating space by industrial, residential, and commercial zones. There is no option in the game to have overlapping districts, where a department store might sit next to a middle-class home. The very idea would seem absurd to modern minds, which typically accept city zoning as an intuitive and unquestionable element of city governance. But prior to the twentieth century, zoning did not exist in the United States...

Sep 12 10:32

Black Monday - Can It Happen Again?

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