ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 27 13:20

The Fed Delays Raising Rates As It Waits Patiently For The Economy To Collapse

DR Horton posts slowest growth, this has to do with the housing market losing steam, not because of lumber prices or the weather.

Jul 27 12:27

How Tax-Dodging Billionaires Use Farmers As Props

After this summer, President Trump and the Republican Congress have one big item on their agenda: taxes. Specifically, cutting them for the rich.

One tax they’ve got in their crosshairs is the estate tax — which they malign as “the death tax.” But it’s nothing of the sort.

Jul 27 11:53

Meet Tally: The Grocery Stocking Robot About To Eradicate 1,000's Of Minimum Wage Jobs

Amazon wiped out billions of dollars worth of grocery store market cap last month when they announced plans to purchase Whole Foods. The announcement sent shares of Kroger, Wal-Mart, Sprouts, and Target, among others, plunging... (WMT -4%, TGT -5.5%, SFM -7.6%, KR -12%).

But, as we pointed out back in May, well before Amazon's decision to buy Whole Foods, Amazon's success in penetrating the traditional grocery market was always a matter of when, not if. Concept stores, like Amazon Go, already exist that virtually eliminate the need for dozens of in-store employees which will allow them to generate higher returns at lower price points than traditional grocers. And, with grocery margins averaging around 1-2% at best, if Amazon, or anyone for that matter, can truly create smart stores with no check outs and cut employees in half they can effectively destroy the traditional supermarket business model.

Webmaster's Commentary: 

With retail, manufacturing, and other traditional jobs becoming so automated, it is critical to give people an education for jobs which will actually exist when they graduate from high school and/or college.

Jul 27 10:06

Brussels likely to declare US anti-Russian sanctions invalid, Moscow's EU envoy says

The European Union considers retaliation to the US bill expanding Russia sanctions by declaring them invalid within the union and by banning European banks’ loans to US companies, Russia’s Permanent Representative to the EU Vladimir Chizhov said in a televised interview with the Rossiya’24 channel on Wednesday.

Jul 27 09:25

This Miner’s $190 Billion Tax Bill Would Take Centuries to Pay

Tanzania sent Acacia Mining Plc a tax bill equal to almost two centuries worth of the gold producer’s revenue.

The government issued the company, which mines all of its gold in the African country, with a $40 billion tax bill and another $150 billion in interest and penalties, Acacia said in a statement Monday. The charge covers alleged under-declared export revenues from the Bulyanhulu and Buzwagi mines over periods between 2000 and 2017.

Acacia reiterated that it has fully declared all revenues.

Jul 27 09:24

100,000 PAGES OF CHEMICAL INDUSTRY SECRETS GATHERED DUST IN AN OREGON BARN FOR DECADES — UNTIL NOW

FOR DECADES, SOME of the dirtiest, darkest secrets of the chemical industry have been kept in Carol Van Strum’s barn. Creaky, damp, and prowled by the occasional black bear, the listing, 80-year-old structure in rural Oregon housed more than 100,000 pages of documents obtained through legal discovery in lawsuits against Dow, Monsanto, the Environmental Protection Agency, the U.S. Forest Service, the Air Force, and pulp and paper companies, among others.

Webmaster's Commentary: 

The US government doesn't give a damn about individual citizens, and the quality of their health; they are only concerned about the bottom lines of major corporations, which give copious amounts of money to fund political campaigns to get candidates elected, and re-elected.

Those candidates then proceed to protect these corporations from any possible hint of wrong-doing, and make it their business that no harm comes to them, no matter the horrific price paid by individuals who have been severely injured by their products.

Welcome to the Unhinged, Surveilled States of Amerika; your papers, please!!

Jul 27 09:17

The Irish Crimean: Mammon and Analyzing Western Nihilism

As an approach to analyzing western nihilism, this point will probably seem completely obvious to most of you, but precisely because it's so obvious, we sometimes overlook its importance:

One of the great failings of western ideology, which distinguishes western civilization from all previous civilizations, is that, in the west, material prosperity and progress are pursued for their own sake rather than as a condition for other kinds of social "good."

If you had asked the rulers of the Mughal Empire or of Han Dynasty China "Do you want your people to be materially prosperous?", then they would have answered "Of course!"

Jul 27 09:16

Jean-Claude Juncker Wants to Block Chinese Takeovers of European Firms

The European Commission President Jean-Claude Juncker is planning to block further takeovers of key European companies by Chinese firms. Cash-rich Chinese companies are threatening to take over firms in charge of critical European infrastructure.

Jul 27 09:03

Bitcoin SCAM warning: Currency is ‘pyramid scheme’ says top investor who predicted crash

CRYPTOCURRENCY Bitcoin is a nothing more than a fad or pyramid scheme style scam, according to billionaire investor Howard Marks.

...

He told clients: "In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it."

The investor compared cryptocurrencies to the Tulip mania of 1637, the South Sea bubble of 1720 and the internet bubble of 1999.

He added: "Serious investing consists of buying things because the price is attractive relative to intrinsic value.

"Speculation, on the other hand, occurs when people buy something without any consideration of its underlying value or the appropriateness of its price."

Jul 27 08:55

THE MILITARY INDUSTRIAL COMPLEX IS UNDERMINING US NATIONAL SECURITY

The ongoing problems with the F-35 and other military programs, stemming from virtually unlimited budgets, underline the inefficiency of the American military-industrial complex (MIC). In contrast, Moscow develops armaments capable of counteracting the latest technological advances of the US at minimal cost.

One of a state’s most insidious mechanisms is the inefficiency of the military-industrial sector. When looking at the world's first superpower, this becomes all the more pronounced. Still, the ongoing problems highlighted by the F-35 program and failed missile interceptions by ABM systems are a good demonstration of how inefficiency in the US military sector has risen to worrying levels.

Webmaster's Commentary: 

This culture of waste, and a complete lack of meritocracy, on such a massive scale, must be dealt with.

For far too long, the US military has put up with equipment which is delivered so late as to be obsolete; does not perform as advertised; and is riddled with massive cost overruns.

President Trump needs to change this; there need to be stringent checks in place to prevent this from continuing, including jailing executives of companies which fail to deliver working, cost-contained, and state-of-the-art weapons for our military.

As draconian as this sounds, it would definitely be a move which would change the culture of this industry forever in this country.

But of course, this will only change when pigs fly; the military industrial complex owns this government, covertly and overtly, and they know it.

This is why the next major war in which the US government and military is involved will most probably be a war it cannot win.

Jul 27 08:32

THE TOXIC FRUIT OF FINANCIALIZATION: RISK IS FOR THOSE AT THE BOTTOM

Those who have pushed the risk down the wealth-power pyramid are confident the Federal Reserve will continue to limit the risks of speculative financialization.

One of the most pernicious consequences of financialization is the shifting of risk from the top of the wealth-power pyramid to the bottom: those who benefit the most from financialization's leveraged, speculative credit bubbles protect themselves from losses while those at the bottom of the pyramid (the bottom 99.5%) face the full fury of financialization's formidable risk.

Longtime correspondent Chad D. and I recently exchanged emails exploring how the higher debt loads and higher interest payments of financialization inhibits people at the bottom of the wealth-power pyramid (i.e. debt-serfs) from taking risks such as starting a small business.

Jul 27 07:43

Zero Times Anything Is Still ZERO!

Jul 27 07:41

Police Department Posts Controversial Photo About Giving Money to Panhandlers (3 Pics)

Mahatma Gandhi is quoted as saying, “A nation’s greatness is measured by how it treats its weakest members,” and this statement rings true today, especially in these United States. With the homeless population remaining an often overlooked segment of our population, it takes a special kind of dick to kick a man while he’s down and shame the people who tried to help him in their own way.

Jul 27 06:14

Fake Stock Recovery Coming to an End

Jul 27 03:09

Total Government And Personal Debt In The U.S. Has Hit 41 Trillion Dollars ($329,961.34 Per Household)

We are living in the greatest debt bubble in the history of the world.

Jul 26 17:12

'Ignore the LOONY-LEFT’S crackpot idea for 100 per cent inheritance tax', expert warns

Amid a wave of criticism leveled at the idea of stopping relatives passing on their wealth to their offspring, John O’Connell, the Chief Executive of the TaxPayers' Alliance, has spoken out against the “unfair and immoral” tax.

Mr O’Connell told Express.co.uk: "This is just yet another crackpot policy idea from the loony-left and should be flat out ignored.

“Inheritance tax is already an unfair and immoral double tax, that hits families at the worst possible time.

“For many hard-working ordinary people, building a legacy for their children and grandchildren is a key reason they get up to go to work every day, but on too many occasions that legacy disappears when the taxman comes knocking at their door."

Jul 26 16:23

There Is Only One Empire

Any nation-state that meets these four requirements is fully exposed to a global loss of faith in its economy, debt, balance of payments and currency.

There’s an entire sub-industry in journalism devoted to the idea that China is poised to replace the U.S. as the “global empire” / hegemon. This notion of global empire being something like a baton that gets passed from nation-state to nation-state is seriously misleading, in my view, for this reason:

Jul 26 16:09

Hyundai-Kia Brutally Crushed in China, Mauled in the US

Its largest & second largest markets. In how much trouble is it?

Jul 26 15:43

SEC Regulates “Initial Coin Offerings” Virtual Tokens Subject To Securities Laws

By Aaron Kesel

The Securities and Exchange Commission (SEC) has issued a press release cautioning market participants that offer “Initial Coin Offerings” or “Token Sales” that these “virtual” organizations are subject to the requirements of federal securities laws. So what does this mean for Bitcoin and other altcoins that were primarily operated inside U.S. jurisdiction?...

Jul 26 15:39

Emerging Markets; Run out of gas again here?

Jul 26 13:29

What Trump's Venezuela Sanctions Will Do To Oil Prices: Barclays Explains

As discussed over the weekend, the endgame in Venezuela is accelerating and it is now only a matter of time before the Maduro regime exits, stage left, the only question is whether he does so peacefully or with the sound of gunfire in the background. And, as we also noted last week, the collapse of the Maduro regime, will "one way or another, send oil prices up."

But while a regime change will certainly lead to violent swings in oil prices (mostly higher), even less volatile events could have a significant impact on the price of crude. According to an overnight report by Barclays' Warren Russell, "even limited new US-imposed sanctions or discussion of broader sanctions could be a catalyst for Venezuela defaulting on its upcoming debt payments, which would put upward pressure on oil prices and help tighten light-heavy spreads."

Jul 26 12:44

STOP buying from AMAZON!

Jul 26 11:41

Trump Wants Low Interest Rates and a "Not Too Strong" Dollar

He told The Wall Street Journal yesterday:
I do like low interest rates. I mean, you know, I’m not making that a big secret. I think low interest rates are good. I like a dollar that’s not too strong. I mean, I’ve seen strong dollars. And frankly, other than the fact that it sounds good, lots of bad things happen with a strong dollar. He also said he might reappoint Janet Yellen at the Fed, her term expires January 31, 2018 or he may go with another strong dollar hater Gary Cohn.

Jul 26 10:54

A Quick and Simple Plan For Politicians to UNFUCK AMERICA

I was recently asked by a person in the UK government to list the steps I would like to see the US government take in order to actually Make America Great Again.

Here are my first ten actions, in no particular order, with a little bit of color commentary:

Jul 26 10:52

Central Bankers 'Are' The Crisis

If there’s one myth - and there are many - that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them.

Jul 26 10:51

Watch: “There’s An Effort Underway To Tear Up The Constitution” As The Economy Nears Collapse

When it comes to state of our economy and the corruption of our government, most of us are on the outside looking in. We see the results of our government’s collusion with corporations and banks, but we don’t really know what goes on behind closed doors and how it all works.

Catherine Austin Fitts knows. As a former director of an investment bank, and a former Commissioner for the Department of Housing and Development under President Bush, you could say that she used to be an insider. As a result, she knows how the elites in the financial sector and in Washington are fleecing the American public, and driving our nation into an economic collapse.

Jul 26 10:49

IMF may soon be moving to China – Christine Lagarde

Head of the International Monetary Fund Christine Lagarde says the organization may move its headquarters from Washington DC to Beijing in a decade if the growth trend in China and other major emerging markets continues.

Changes in big emerging markets will be reflected in the IMF's voting structure, and the Fund will need to increase its representation in the region, according to Lagarde.

“Which might very well mean, that if we have this conversation in 10 years' time...we might not be sitting in Washington, DC We'll do it in our Beijing head office,” the Fund’s Managing Director said.

Lagarde highlighted that emerging economies are currently growing larger and more influential.

She added that the IMF's bylaws call for the institution's head office to be located in the largest member economy.

Webmaster's Commentary: 

This is why so many in the Bowels of Power in DC are itching for a war with China (which we very well may not win), to prevent a financial overtake of the US.

Jul 26 10:29

CIA analyst: Beijing poses a greater threat than Russia

In an unusually candid talk, agency's Michael Collins said China's growing confidence and resolve – fueled by inaction against Chinese hegemony over the past several years – are a worry

Webmaster's Commentary: 

China isn't a threat. Russia isn't a threat. It is the US government stealing other nations' wealth to try to clean up the economic mess they themselves created that is the threat.

Jul 26 10:27

China and India torn between silk roads and cocked guns

The current stand-off at Doklam, or Donglang, is little more than a sideshow in the bigger picture as South Asia's tectonic plates shift in a direction that makes New Delhi's resistance to China's Belt and Road Initiative (BRI) look increasingly futile

Webmaster's Commentary: 

And that may be the motive for "someone" to interfere and try to cause trouble, since that China's Belt and Road Initiative is a serious threat to western-owned shipping companies.

Jul 26 09:59

“WE ARE DECLARING WAR ON CASH,” BANK SPOKESMAN ANDY GERLT

Here is yet more proof of what happens when slow, methodical planning, manufactured consent, and corporate influence combine their forces. The result is an unholy union between academic ideologists, political puppets, and corporate greed manifested in what can only be described as a juggernaut; A slow, relentlessly moving object that will crush anything in its path. Note juggernauts are also prone to crushing their devotees as well.

Jul 26 09:23

Why Illinois Is In Trouble - 63,000 Public Employees With $100,000+ Salaries Cost Taxpayers $10B

Jul 26 09:22

Elizabeth Warren Does Little Dance When Voter Says Democrats Should Get Behind Glass-Steagall

"The economy's in terrible shape, but the financial system is doing very well in terms of profits," a woman said. "I wonder why you don't go behind Glass-Steagall in a major way. It was Franklin Roosevelt's first piece of legislation. We're on the verge of a blowout that makes 2008 look minor."

As the woman mentioned Glass-Steagall, Warren did a delighted dance to the amusement of her fellow lawmakers.

Warren has made a reputation for herself as being tough on Wall Street and has long called for the reinstatement of Glass-Steagall and the breaking up of big banks.

Jul 26 09:16

THE TWO CHARTS THAT DICTATE THE FUTURE OF THE ECONOMY

The stock market, bond yields and statistical measures of the economy can be gamed, manipulated and massaged by authorities, but the real economy cannot. This is espcially true for the core drivers of the economy, real (adjusted for inflation) household income and real disposable household income, i.e. the real income remaining after debt service (interest and principal), rent, healthcare co-payments and insurance and other essential living expenses.

If you want to predict the future of the U.S. economy, look at real household income. If real income is stagnant or declining, households cannot afford to take on more debt or pay for additional consumption.

The Masters of the Economy have replaced the income lost to inflation and economic stagnation with debt for the past 17 years. They've managed to do so by lowering interest rates (and thus lowering interest payments), enabling households to borrow more (and thus buy more) with the same monthly debt payments.

Jul 26 09:14

'Shine is coming off!' Farage in massive sideswipe at Corbyn as student fee row rumbles on

NIGEL FARAGE blasted Jeremy Corbyn saying the gloss was coming off the Labour leader’s image with the young after the student debt fiasco.

Jul 26 08:22

Trump announces ban on transgender people in U.S. military

President Trump announced that transgender troops would not be allowed to serve in the military on July 26, reversing the Pentagon's 2016 decision to lift the ban. (Jenny Starrs/The Washington Post)
President Trump said he will ban transgender people from serving in the military in any capacity, a reversal of the Obama administration decision that would have allowed them to serve, he announced on social media on Wednesday.

Citing the need to focus on victory, Trump said that the military cannot accept the burden of higher medical costs and “disruption” that transgender troops would require.

Jul 26 08:16

Student Loan Debt INCREASES 457% Since 2003

Jul 26 08:12

Can You Spot An "EXTREME BUBBLE?"

Jul 26 07:11

Wishful Wednesday – Fed Edition

Jul 26 06:54

IMF may soon be moving to China – Christine Lagarde

Head of the International Monetary Fund Christine Lagarde says the organization may move its headquarters from Washington DC to Beijing in a decade if the growth trend in China and other major emerging markets continues.

Jul 25 15:46

Countries Are Ramping Up On Gold Purchases As The Dollar Takes A Dive

Existing home sales slump, this is the weakest summer since 2011, this is not a good sign. Caterpillar sales increase because of the purchases from China and the Asian sector, this is fading already.

Jul 25 15:09

Money Is Money, Wherever It Comes From

Jul 25 14:59

Amazon jacked up Prime Day prices, misleading consumers, says vendor

A Charlotte-based startup says e-commerce king Amazon (AMZN) jacked up their suggested retail price during the company’s annual discount event—Prime Day—to deceive consumers into thinking that they were getting a deal, when in reality, they weren’t.

Jason Jacobs, founder of Remodeez, a small company that specializes in non-toxic foot deodorizers and other odor stoppers, says he had an agreement with Amazon since 2015 on a suggested retail price of $9.99 for his products and was shocked after the tech giant almost doubled that on Prime Day to make it look like people were getting a discount, when they were actually paying full price.

Jul 25 12:35

"Shrinkflation" - How Food Companies Implement Massive Price Hikes Without You Ever Noticing

Do you ever get the sense that your favorite steak at that Quick Service Restaurant of your choice keeps getting thinner and thinner all while your check size at the end of the night continues getting larger and larger. Well, it is. How else are publicly traded chains going to continue to deliver margin growth to wall street in the midst of rising labor costs, rising commodity costs and shrinking customer traffic?

As a new study in the U.K. just revealed, shrinking portion sizes among food manufacturers is actually way more common than you might think and you probably never even noticed it. In fact, according to data from the Office for National Statistics, over 2,500 consumer products in the U.K. shrunk in size over the past five years despite being sold for the same price.

Webmaster's Commentary: 

I have noticed it very much at the local markets we patronise; portions are way smaller, but sold for a lot more money than they used to cost!!!

I don't know how families are making it, in terms of buying healthy foods for their kids, with the phenomenal upticks Mike and I have seen with food prices here.

Jul 25 12:17

The Elites Are Privately Warning About A Crash

Many everyday citizens assume powerful global financial elites operate behind closed doors in secret conclaves, like the scene of a Spectre board meeting in the recent James Bond film.

Actually, the opposite is true. Most of what the power elite does is hidden in plain sight in speeches, seminars, webcasts and technical papers. These are readily available from institutional websites and media channels.

It’s true that private meetings occur on the sidelines of Davos, the IMF annual meeting and G-20 summits of the kind just concluded. But the results of even those secret meetings are typically announced or leaked or can be reasonably inferred based on subsequent policy coordination.

What the elites rely on is not secrecy but lack of proficiency by the media.

Jul 25 10:36

Rep. Gutierrez: When Democrats Take Majority We're Going To "Eliminate" Trump

Rep. Gutierrez: When Democrats Take Majority We're Going To "Eliminate" Trump

Rep. Luis Gutierrez (D-IL) ripped President Trump for his immigration policy in a sermon at Chicago's Lincoln United Methodist Church on Saturday. The Democratic Congressman said Trump is the "major criminal" and he will "eliminate" him as president when the Democrats win a majority in the House.

The Lincoln United Methodist Church is a sanctuary church and according to Gutierrez's website, he "spoke to a packed house about the need to defend DACA (Deferred Action for Childhood Arrivals) and other forms of legal immigration status that are under attack from Republicans and Donald Trump."

Gutierrez said that while Trump is attempting to criminalize immigrants, the president is the "real criminal." The Congressman said illegal immigrants are not criminals and that history will determine who the true criminals are.

Webmaster's Commentary: 

I would certainly like to hope that, after this "impressive performance", Representative Gutierrez got a very long visit from the Secret Service, asking him precisely what he meant when he said he was going to "eliminate" President Trump.

By impeachment, for upholding immigration law?!?

And just how, please, with a national debt of over $20 trillion dollars that we know of, just how, pray tell, does the Representative imagine the US is going to absorb the real costs of illegal immigration?!?

As reported at heritage.org in 2013:

The Fiscal Costs of Unlawful Immigrants and Amnesty to the US Taxpayer

As reported in investors.com last year:

Sorry: but illegal aliens cost the US plenty

And finally, as reported last year at AMAC:

How much does illegal immigration cost you?!?

The attack-dog populists, championing illegal immigration, as does Representative Gutierrez, generally never have a plan for how to pay for it; yet, all legal citizens in this country pay the price of this economic burden, particularly those who have the good fortune to be employed.

Are there issues, like Deferred Action for Childhood Arrivals which need to get sorted?!? Absolutely.

But to proclaim that all illegal immigration just has to be accepted and tolerated, in a country that is on the keening edge of financial collapse, is just completely stupid, and a complete betrayal of American values.

Jul 25 09:52

BANKS ARE SCHEMING TO DOMINATE A FUTURE CASHLESS SOCIETY

Visa recently announced its new Cashless Challenge program, which offers $10,000 to restaurants willing to transition into accepting only digital payments. As the largest credit card processor in the U.S., it’s no surprise Visa is spearheading this campaign.

Under the guise of increasing transparency and efficiency, they’ve partnered with governments around the world to help convert financial systems into cashless models, but their real incentive is the billions of dollars in extra transaction fees it would generate.

“We are declaring war on cash,” Visa spokesman Andy Gerlt proudly proclaimed after the program was announced.

Webmaster's Commentary: 

IF business establishments will not accept my cash, I will no longer do business with them, period, end of discussion.

It is just that simple.

Jul 25 09:09

The 45 minutes that cost global giant Reckitt £100m: 15,000 laptops, 2,000 servers, 500 systems crippled in hacking attack

A devastating cyber-attack that cost the maker of Durex and Dettol an estimated £100million crippled the company in just 45 minutes and wiped out swathes of its global computer network, its boss has revealed.

Reckitt Benckiser chief executive Rakesh Kapoor laid bare how the Petya ransomware virus rendered 15,000 laptops, 2,000 servers and 500 computer systems unusable in three-quarters of an hour – and the company has still not fully recovered.

Jul 25 08:41

HALLIBURTON’S QUESTIONED AND UNSUPPORTED COSTS IN IRAQ EXCEED $1.4 BILLION

Reports of Halliburton’s excessive billings have multiplied since the invasion of Iraq. Former Halliburton employees have described how the company charged $45 for cases of soda and $100 to clean 15-pound bags of laundry. U.S. government auditors have also issued dozens of reports finding questionable billings, including unreasonable fuel prices and charges for meals that were never served to the troops.

Jul 25 08:35

The economy is designed to depress us....

Jul 25 08:00

Donald Trump and the Coming Fall of American Empire

Even as President Donald Trump faces ever-intesifying investigations into the alleged connections between his top aides , and family members and powerful Russian figures , he serves as commander in chief over a US military that is killing an astonishing , and ever growing number of civilians>>>

Jul 25 07:57

No deal! EU up in arms over US - Russia sanctions

Brussels is preparing to retaliate if Washington adopts new sanctions against Russia without taking EU interests into account, according to a memo obtained by the Financial Times.

European Commission President Jean-Claude Juncker has requested an urgent review of Brussels' options for retaliation in the event that European energy companies and other business were to be targeted by the new anti-Russian sanctions being proposed by the US Congress.

The new sanctions' targets do include restrictions in the energy sector, and specifically target the Nord Stream 2 project, a joint venture involving Russian energy giant Gazprom and energy companies from Germany, France, Austria, the Netherlands and the UK to bring Russian natural gas to Western Europe via a pipeline in the Baltic Sea. The bill explicitly threatens to target European companies working with Russia on the project.

Jul 25 07:51

The Economic Collapse Began Long Ago

Jul 24 14:23

Social Security: The 14th Amendment And “Odious Debt”

The Republican Party prepares to violate the 14th Amendment to the US Constitution:  Social Security — the 14th amendment and “odious debt”.

For decades the working people have been paying millions more than was needed into Social Security and for years the excess money has been borrowed by the government. 

Jul 24 13:23

2017 FEDERAL POVERTY LEVEL GUIDELINES

Jul 24 10:35

On Fighting Inequality, Which Nations Do More Than Pay Lip Service?

Two years ago, in 2015, just about all the nations in the world came together and agreed to make reducing inequality — the gap between rich and poor — a prime United Nations “sustainable development goal.”

A noble gesture. But UN groups make noble gestures all the time. These gestures do sometimes translate into real progress. They more typically amount to blowing smoke — and obscuring how little progress governments may actually be making.

Jul 24 10:16

'I wish I could get President Trump to see this': Fairground becomes a makeshift hospital 'like you'd expect to see in Sudan' to deal with the US health care crisis as officials grumble over Obamacare

Hundreds of desperate patients, some in their 90s, traveled miles to be seen to by doctors offering free care.

Medical staff used animal stalls, articulated lorries and barns to carry out health examinations and treatment.

Pictures show rows of people lying in beds being treated by doctors walking on dirty tarmac in Wise, Virginia.

Charity workers said the scenes were like something they would expect to see in South Sudan or Haiti.

President Trump has been urged to visit a country fairground in Virginia which has become a makeshift hospital to deal with the US health care crisis.
As Republican officials continue to grumble over Obamacare, the reality on the ground is stark - people camping overnight to be first in line for free treatment at a pop-up outdoor medical center.

Hundreds of desperate patients, some in their 90s, traveled miles to be seen to by doctors who used animal stalls, articulated lorries and barns to carry out examinations and treatment.

Webmaster's Commentary: 

Welcome to Thirdworldistan, America on your watch, Mr. President!

The fact that these people had no other options than this for desperately needed medical care, is a stain and a shame upon both your Presidency, and on the current "alleged" Congressional Representatives.

And Virginia Senators Kaine and Warner, where the hell were you, that things have devolved so poorly in your state that this was all these people could get in terms of medical care?!?

Making love to your rapidly growing 401 Ks?!?

Jul 24 09:38

“The Cartel Has Completely Devastated The Metals Market… Causing Serious Problems In Other Minerals Outside Of Precious Metals” - Mac Slavo

ith the world seemingly in economic and geo-political shambles, those concerned with the real possibility of collapse continue to position themselves in precious metals. As highlighted by SGT Report in the five-minute metals update below, physical acquisition of gold and silver continues unabated, with Silver Eagles once again hitting month-over-month sales records in July. Moreover, the supply of gold appears to be dwindling. Coupled with heavy investment demand, this suggests that prices may soon jump to the upside as investors continue to shift into the asset class of last resort and larger gold and silver mining companies move to lock in physical assets through junior mining acquisitions.

Webmaster's Commentary: 

IF you can purchase gold or silver, now would be a good time to do it; these moves are telegraphing that people are expecting some kind of a shock in the financial and stock markets, and not in the too distant future, either.

Jul 24 09:33

A Mystery Investor Just Made A $262 Million Bet That The Stock Market Will Crash By October

One mystery trader has made an extremely large bet that the stock market is going to crash by October, and if he is right he could potentially make up to 262 million dollars on the deal. Fortunes were made and lost during the great financial crisis of 2008, and the same thing will happen again the next time we see a major stock market crash. But will that stock market crash take place before 2017 is over? Without a doubt, we are in the midst of one of the largest stock market bubbles in U.S. history, and many prominent investors are loudly warning of an imminent stock market collapse. It doesn’t take a genius to see that this stock market bubble is going to end very badly just like all of the other stock market bubbles throughout history have, but if you could know the precise timing that it will end you could set yourself up financially for the rest of your life.

Jul 24 09:32

"Worse Than People Can Imagine" - Deutsche Bank To Shift $350 Billion Of Assets From London To Frankfurt

In a project dubbed 'Bowline', Bloomberg reports that Deutsche Bank may shift about 300 billion euros ($350 billion) from the balance sheet of its U.K. entity to Frankfurt as client trading and assets migrate to the continent following Britain’s decision to leave the European Union. While not the first bank to threaten to move post-Brexit, the scale of asset movement is the largest yet.

Deutsche Bank’s balance sheet listed 1.59 trillion euros in total assets at the end of last yea and much of its trading in Europe is traditionally booked in London. But, as Bloomberg reports, the Brexit-contingency project calls for Frankfurt trading to go live in September 2018 and for the balance sheet migration to be completed by March 2019, said the person, who asked for anonymity in discussing internal matters.

Jul 24 09:31

EU "Sounds Alarm" Over New US Sanctions On Russia; Germany Threatens Retaliation

Late on Friday, Congressional negotiators reached a deal to advance a bill that would punish Russia for its interference in the 2016 election and restrict the president’s power to remove sanctions on Moscow, according to the WSJ. The measure, if signed into law, will also give Congress veto powers to block any easing of Russian sanctions by the president. And while it remained unclear if President Donald Trump would sign the bill if it reaches his desk, which is now likely, the loudest complaint about the bill to date has emerged noe from the Oval Office, but from Brussels, after the EU once again urged (and warned, and threatened) US lawmakers to coordinate their anti-Russia actions with European partners, or else.

Jul 24 09:13

Germany’s stock market CRASHES to lowest level in months as car makers in double crisis

GERMANY'S top stock index was flashing red after shares in the country's biggest carmakers plunged over a fresh investigation into the diesel emission scandal.

The DAX tumbled to its lowest level in more than three months, as investors rushed to sell Volkswagen, Daimler and BMW.

The manufacturing giants are being probed amid allegations of collusion over diesel emission treatment systems and cost agreements.

Jul 24 09:04

Morales Declares 'Total Independence' from World Bank and IMF

Bolivia's President Evo Morales has been highlighting his government's independence from international money lending organizations and their detrimental impact the nation.

Webmaster's Commentary: 

Bolivia just made the Special High Interest Targets list!

Jul 24 09:03

Strip-Mining The World

A gigantic mine engages in every conceivable destructive practice—strip mining, heap leaching, tailings dams and ponds and so on. It pays such low wages its workers only make ends meet by borrowing from the company at usurious rates. The mine has befouled the air and poisoned the water. Many workers are chronically sick and their children are afflicted with birth defects. The mine’s absentee owners know that the mine is played out and the tailings dam is structurally unsound. They close the mine, count their profits, and move on. A month later the dam gives way. A deluge of noxious sludge inundates the town below the dam, sparing no one and rendering the area uninhabitable.

The government is a strip mining operation, plundering the dwindling residual value of a once wealthy America. Forget ostensible justifications, policy is crafted to allow those who control the government to maximize their take and put the costs on their victims, leaving devastation in their wake.

Jul 24 08:26

Honolulu Rail Reporting the Hard Facts

Jul 24 08:25

HART Boardmember: Our Credibility has Disappeared, Nobody Knows Who is Responsible

The credibility of rail transit on Oahu has virtually disappeared. No one, least of all the public, knows who is in charge. Nor does anyone believe anything with respect to costs, timetables, transit-oriented development (TOO) or projected financial plans. With multiple governing entities and their pronouncements, no one knows who is responsible for the existing dysfunction, let alone infrastructure policy.

I suggest the recent failure of the State Legislature to reach a conclusion on how to assist the City with funding for future construction and/or operation of rail transit is an opportunity to re-evaluate where we are financially and reconsider what is the most sensible way to move forward.

Jul 24 08:14

IMF downgrades UK and US growth forecasts

The UK and US economies will expand more slowly in 2017 than previously predicted, according to the International Monetary Fund (IMF).

It said "weaker-than-expected activity" in the first three months of the year meant the UK would grow by 1.7%, compared with an earlier 2% forecast.

The IMF also revised down its US growth forecast from 2.3% to 2.1%.

Jul 24 08:06

EU Ready to Retaliate If US Imposes New "Russia" Sanctions

In what appears set to be major diplomatic showdown between Washington D.C. and Brussels, on Sunday the White House said that President Trump was open to signing legislation toughening sanctions on Russia after Senate and House leaders reached agreement on a bill late last week.

Jul 24 07:17

VENEZUELA WILL BE THE FIRST SOVEREIGN OIL PRODUCER TO SEE AN "ALL-OUT COLLAPSE"

Venezuela’s anti-government protests are growing increasingly violent, with the death toll from clashes between protesters and government forces that began in May topping 100. Despite the country’s increasing political instability, and US President Donald Trump’s half-serious threats of an invasion, President Nicolas Maduro has decided to press ahead with his vote to create a rubber stamp constituent assembly that will allow him to amend the country’s constitution.

With the country’s finances looking ever more precarious, Bloomberg warns that that this decision could bring about the first collapse of a sovereign oil producer. Venezuela has the largest natural oil reserves of any country on Earth, yet the decline in oil prices that began in 2014, coupled with years of economic mismanagement, have been enough to bring the country’s economy to its knees.

Webmaster's Commentary: 

I seriously doubt that the status quo ante will last until Christmas; I would bet, however, that the US government has a ready-made "regime change" in place when Maduro falls, which will put that country into the slave chains of the most painful financial austerity possible.

Jul 24 04:05

A Mystery Investor Has Made A 262 Million Dollar Bet That The Stock Market Will Crash By October

One mystery trader has made an extremely large bet that the stock market is going to crash by October, and if he is right he could potentially make up to 262 million dollars on the deal.

Jul 23 21:08

Let the robots take our jobs and pay for a universal basic income

As developments in artificial intelligence and robotics advance, there is going to be a severe and swift disruption of many working classes. Large swaths of laborers are going to lose their jobs, leading to unprecedented levels of unemployment.

To account for this problem, having access to basic needs should become a right, not a privilege for the non-automated classes. It should be the responsibility of the corporations that have taken away working-class jobs to grant families this right—and the best solution would be in the form of a universal basic income.

The following video explains, amongst other things, why a universal basic income is doomed to fail:

Jul 23 17:50

'Time bomb' alert for 1.9m on interest-only home loans: Families being forced to sell when their deals expire

Interest-only mortgages are a ‘ticking time bomb’ for hundreds of thousands of families who have no idea how they will repay the money they owe, experts have warned.

As many as 1.9million borrowers are paying off the interest on their home loans without making a dent in the capital, figures from the Council of Mortgage Lenders (CML) show.

It is estimated that one in ten of these households have no plan in place to pay off the loan when their mortgage deal expires. And many who do have a plan may find they do not have enough money to repay the loan in full.

Jul 23 12:07

How The Elites Betrayed Working-Class America

Jul 23 09:45

Home Free?

In 2005, Utah set out to fix a problem that’s often thought of as unfixable: chronic homelessness. The state had almost two thousand chronically homeless people. Most of them had mental-health or substance-abuse issues, or both. At the time, the standard approach was to try to make homeless people “housing ready”: first, you got people into shelters or halfway houses and put them into treatment; only when they made progress could they get a chance at permanent housing. Utah, though, embraced a different strategy, called Housing First: it started by just giving the homeless homes.

Jul 23 09:17

French tobacconists protest govt plan to raise cigarette prices

Cigarette sellers in France took to the streets on Thursday to attack the government's policy to gradually increase the price of a packet of cigarettes from €7 to €10 over the next three years.

Claiming the measures will ruin their business and won’t even reduce smoking, they covered speed cameras with plastic bags in the southern city of Toulouse, the northern region of Picardy and Bearn near the Pyrenees, as well as other parts of France.

Jul 23 09:11

50% Of U.S. Malls expected to close by 2023

Jul 23 09:10

Meddling EU warn US against Russia sanctions to avoid America-German row over energy deal

THE meddling European Union (EU) has warned the US of “wide and indiscriminate” consequences after the nation reached a deal for stepping up sanctions against Russia.

Jul 23 07:06

Why Are Bond Yields Staying Low?

Jul 22 11:23

Record Apartment Building-Boom Meets Reality

Even the Fed put commercial real estate on its financial-stability worry list.

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