ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 19 05:58

10 Charts Which Show We Are Much Worse Off Than Just Before The Last Economic Crisis

If you believe that ignorance is bliss, you might not want to read this article. I am going to dispel the notion that there has been any sort of “economic recovery”, and I am going to show that we are much worse off than we were just prior to the last economic crisis.

Mar 19 03:15

Target Will Pay 10mdd To Meet Demand For Violation Of Data

In a proposed settlement of a class action lawsuit related to a massive violation of data security agreement 2013, Target Corp agreed to pay 10 million dollars.

According to a company spokesman consulted by CBS News the proposal includes the creation of an account to pay individual victims up to $ 10,000 as compensation for damages.

http://whatisusa.info/target-will-pay-10mdd-to-meet-demand-for-violati...

Mar 18 23:04

Bailout is Back: Fannie and Freddie Likely Need “Additional Treasury Investment” After Derivatives Losses

Mac Slavo
SHTFplan.com

There is trouble again for federal mortgage backers and bailout queens Fannie Mae and Freddie Mac, whose failures helped to trigger the housing market collapse and subsequent 2008 economic crisis.

The government enterprises are again turning their lowest profits since the recovery, thanks to derivatives losses – where most of the mortgage lender money is invested:

Fannie Mae will make its smallest payment to taxpayers in more than four years after large derivatives losses crimped its fourth-quarter profit, the government-controlled mortgage financier said on Friday.

With growing perils, Fannie and Freddie are again looking towards a possible bailout, and the likelihood of a short term Treasury infusion of cash. Reuters reported:

Mar 18 19:52

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (5 of 7)

*hyperlinks live at source*

The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections:

Instructions (1 of 7)
Contextual orientation: seeing the past as clearly as possible (2 of 7)
Money and bank credit (3 of 7)
Fractional reserve banking (4 of 7)
Debt (public, private) and money supply (5 of 7)
Historical struggle between government-issued money and private bank-issued credit (6 of 7)
Cost-benefit analysis for monetary reform in your world of the present (7 of 7)
**

5. Historical struggle between government-issued money and private bank-issued credit

Mar 18 19:30

A Surprise Uptick in US Inflation

Mar 18 19:18

Scores Injured In Violent Frankfurt Clashes

Violent clashes have broken out in Germany’s financial capital during anti-capitalist protests marking the opening of the European Central Bank’s new headquarters.

Mar 18 19:02

Japanese QE – Epic Fail

Mar 18 18:43

Budget pledges funds for digital cash research

UK research into digital cash could get a £10m boost from government.

The plan to funnel cash into the "opportunities and challenges" of digital currencies such as bitcoin were announced in the budget.

Mar 18 15:42

Fed to markets: you're on your own

The Fed’s forward guidance doesn’t offer traders much to go on.

Economists at the Federal Reserve are just as clueless as the rest of us.

Mar 18 14:31

San Francisco Saint Mary’s Cathedral Drenches Homeless With Water To Keep Them Away

KCBS has learned that Saint Mary’s Cathedral, the principal church of the Archdiocese of San Francisco, has installed a watering system to keep the homeless from sleeping in the cathedral’s doorways.

The cathedral, at Geary and Gough, is the home church of the Archbishop. There are four tall side doors, with sheltered alcoves, that attract homeless people at night.

“They actually have signs in there that say, ‘No Trespassing,’” said a homeless man named Robert.

But there are no signs warning the homeless about what happens in these doorways, at various times, all through the night. Water pours from a hole in the ceiling, about 30 feet above, drenching the alcove and anyone in it.

Webmaster's Commentary: 

How very Christian of them!

Mar 18 14:03

Underground Market Steals $12 Million In Bitcoins: “Going to The Caribbean… Hope You Guys Understand”

For the casual observer the underground online marketplace, often referred to as the DarkNet, seems to resemble the lawlessness of the Wild West. Over the last several years millions of dollars worth of digital crypto-currencies have been stolen, oftentimes by the very operators of the web sites tasked with managing the online digital “hot” wallets of its users. (A “cold” wallet is used to store crypto-addresses on your own Flash drive or can be written down on a piece of paper).

Mar 18 13:55

Spain's 'Indignants' combat eviction trauma

Spain's government says the economy is improving after years of crisis, but thousands of families are still suffering.

Mar 18 13:27

How Far Will The Euro Fall?

The US dollar is hitting new 12-year highs almost daily, while the euro seems to be plunging inexorably to below dollar parity. Currency movements are often described as the most unpredictable of all financial variables; but recent events in foreign-exchange markets seem, for once, to have a fairly obvious explanation – one that almost all economists and policymakers accept and endorse.

Mar 18 12:29

Relief rally: Dow jumps 225 pts. on Fed rate news

U.S. stocks rallied sharply after the Federal Reserve ruled out interest rate hikes at next month's meeting and said it had not "decided on the timing" of the first rate increase in nearly nine years.

Stocks were lower ahead of the Fed's announcement Wednesday afternoon, but rose sharply after the highly anticipated policy statement was released at 2 p.m. ET at the end of its two-day meeting.

Mar 18 11:11

GERMANY RIOT TARGETS NEW ECB HEADQUARTERS IN FRANKFURT

In addition, two attackers have also been killed, Essid said, calling it a “cowardly terrorist operation” that targeted tourists. The tourists were attacked while they were getting off a bus to enter the museum, Essid said, noting this is the first attack there targeting tourists.

Mar 18 10:55

Europe and China launch cooperation, striking serious blow on America

China has recently initiated the establishment of the Asian Investment Bank (AIIB) as a possible alternative for developing economies. The bank is said to seriously undermine the dominance of the United States among the countries of the "third world", as the Americans show serious influence on the administration of the World Bank and the IMF that act as tools of their influence in different regions, Pravda.Ru says.

Mar 18 10:48

Is UK set for deflation? Bank of England warns that pound could send inflation even lower this year

Bank of England policymakers have warned there are risks that sterling could strengthen further against the euro and leave inflation below target for longer.

Minutes from this month's monetary policy committee meeting revealed that policymakers again voted 9-0 in favour of keeping interest rates at a record low of 0.5 per cent for the 72nd consecutive meeting in March.

The very weak short-term outlook for inflation was cited as the reason for keeping rates so low, despite surveys in recent months showing that the UK economy is returning to full strength. Inflation fell to record low of 0.3 per cent in February and the Bank has already warned it could go lower and possibly into negative territory.

Mar 18 10:41

The Missing Element in Modern Economics

Mar 18 10:37

Greece is Just the Tip of the Iceberg for the $100 Trillion Bond Bubble

Greece, as a country, represents 2% of Europe’s GDP. The country lied in its financial to enter the EU. Since that time, it’s been officially bankrupt since 2010.

The country has since gone through a series of “bailouts” and experienced a 25% collapse in GDP (roughly equivalent to what Argentina experienced in its 2001 implosion).

And yet, despite all the bailouts and claims that Greece was “fixed,” the country is set to default on some of its debt this Friday.

Mar 18 10:37

03 16 15 standoff and fire

This is how an old man and his dogs were evicted by the Oregon State Police.
They are all dead!

Mar 18 10:35

World’s largest hedge fund fears Fed hike may roil markets

The Federal Reserve appears on track to deliver a rate hike this year, but hedge-fund billionaire Ray Dalio is worried the central bank has little ammunition available to combat an economic downturn if tighter policy should “knock over the apple cart.”

Mar 18 09:50

Corporations Lobbying Government Reap 76,000% Return on Investment

Nick Bernabe
Activist Post

Forget the penny stocks, amateurs, the greatest investment you can make in America is bribing the government to give you political favors...

Mar 18 09:34

Oil prices not here to stay: Both Brent and WTI continue losing streak

The US benchmark, West Texas Intermediate crude fell 2.9 percent to $42.21 per barrel, making it the seventh consecutive day of loss. Inventories, especially in the US, are overstocked.

Brent oil futures for April were hit equally hard as WTI, losing 0.5 percent to $53.44 a barrel on Wednesday. Most analysts agree that low oil prices will persist through 2015, weighed down by oversupply, mostly from US shale.

Mar 18 09:17

Crash Landing: China Home Prices Plunge At Fastest Pace On Record, Surpass Post-Lehman Collapse

Less than three weeks ago, when the PBOC proceeded with its latest "surprise" rate cut, we showed a chart that should scare everyone who is hoping that China will avoid a hard-landing would prefer would never have been revealed: the annual collapse in Chinese home prices is now so sharp and so widespread, that it has surpassed the housing collapse in the aftermath of the Lehman collapse." Overnight things went from bad to worse, when China's National Bureau of Statistics reported that contrary to hopes for a modest rebound, China's average new home prices fell at the fastest pace on record in February from a year earlier.

Mar 18 09:14

Pettifor: “They are currency wars”

Mar 18 08:39

Germany riot targets new ECB headquarters in Frankfurt

Dozens of people have been hurt and some 350 people arrested as anti-austerity demonstrators clashed with police in the German city of Frankfurt.

Police cars were set alight and stones were thrown in a protest against the opening of a new base for the European Central Bank (ECB).

Violence broke out close to the city's Alte Oper concert hall hours before the ECB building's official opening.

"Blockupy" activists are expected to attend a rally later on Wednesday.

Mar 18 08:30

US Warns Allies Not to Join China-led Development Bank

Eric Blair
Activist Post

How do you know a dollar collapse is coming? Because the rest of the world is preparing for it.

Western allies are flocking to join the new China-led Asian Infrastructure Investment Bank (AIIB), while the United States and World Bank sit on the sidelines and lecture them about "appropriate" financial governance...

Mar 18 08:15

China's Finance Ministry Welcomes New AIIB Members

The governments of France, Italy and Germany all say they will submit their confirmation letters as soon as possible.

Mar 18 08:14

Liveblog: Blockupy anti-ECB demo in Frankfurt

Frankfurt remains on alert after a morning of violence, burned cars and hundreds of arrests gave way to what is hoped to be an afternoon of peaceful protest. Organizers of the "Blockupy" demonstration against the new European Central Bank (ECB) building said they distanced themselves from the violence. Follow the latest updates here.

Webmaster's Commentary: 

More than likely those committing the violence are agents provocateurs to give the police an excuse to protect the most holy and sacrosanct bankers form those mean and evil people!

Mar 18 07:53

Fannie And Freddie Are Headed For Another Bailout

Taxpayers pumped over $200 billion in to Fannie Mae and Freddie Mac after the financial collapse of 2008. While the Obama Government used taxpayer subsidized loans to move a large quantities of foreclosed housing inventory from the FNM/FRE and in to big investment funds, FNM/FRE were busy ballooning their mortgage holdings – again.

Now the Inspector General’s Federal Housing Finance Agency has issued a warning that both FNM/FRE are headed for another bailout, which is no surprise to me:

Mar 18 06:52

What the weak euro and strong dollar mean for the global economy

A weaker euro is engineered to get the European economy back on track. As with all monetary policy, this is good for some, bad for others. RT takes you through the winners and losers.

The euro has been sinking since the European Central Bank kicked off its €1.1 trillion asset buying program on March 9. The bank plans to print €60 billion per month to buy debt until inflation hits the target rate of 2 percent. The expected date for this is September 2016, but it could be prolonged.

Webmaster's Commentary: 

When money becomes weaponized, the whole world becomes a body count!

Mar 18 06:45

6 Steps in the Global Currency Reset 2015-16

Mar 18 06:13

Utilities wage campaign against rooftop solar

Three years ago, the nation’s top utility executives gathered at a Colorado resort to hear warnings about a grave new threat to operators of America’s electric grid: not superstorms or cyberattacks, but rooftop solar panels.

Mar 18 05:55

Australian PM attacks “lifestyle choice” of poverty-stricken Aborigines

Australian Prime Minister Tony Abbott’s contempt for poverty-stricken Aborigines living in outback areas was on open display last week when he was asked about plans by the Western Australian (WA) state government to completely shut down many communities.

“What we can’t do is endlessly subsidise lifestyle choices if these choices are not conducive to the kind of full participation in Australian society that everyone should have,” Abbott told the media in the WA gold-mining town of Kalgoorlie last Wednesday.

To claim that Aborigines are indulging in a “lifestyle choice,” akin to that of layers of the upper middle class moving to an idyllic rural setting, is grotesque. The conditions in remote Aboriginal communities, which lack jobs, proper housing and essential services, are frequently described as “third world” or even “fourth world.”

Mar 18 05:54

3 Methods of Debt Payoff You Need to Know

Have you been overwhelmed thinking about how you can best pay off any debt you have? There are several strategies you can use to achieve debt freedom, but you might be unsure which is right for you.

Mar 18 05:42

EU calls for tracking computers in all vehicles to monitor, regulate travel

The controlling surveillance state is deepening, prying further into people's lives like a chisel carving its way through skin and bone. Governments have become opportunistic control freaks, centralizing their micromanagement powers whenever possible. Now the European Union is rolling out plans to monitor travel on all European roads, tracking drivers' mileages and time traveled per vehicle. This controlling scheme is not for surveillance alone; it's essentially a plan to tax every driver for the for the distance they travel on European roads.

Webmaster's Commentary: 

Of course, people in Europe (and the US) are already taxed for the miles they drive with taxes on gasoline and tires. The more you drive the more you pay in those existing taxes. Adding another mileage tax (along with more surveillance) means people will be less likely to go shopping, or go to a restaurant, or theater, or sporting event, or tourist destination, meaning more of those businesses will be shut down. In the long term, adding more taxes will mean less tax revenue overall.

Mar 18 03:06

A Swing and a Miss

Mar 17 20:05

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (5 of 7)

*hyperlinks live at source*

The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections:

Instructions (1 of 7)
Contextual orientation: seeing the past as clearly as possible (2 of 7)
Money and bank credit (3 of 7)
Fractional reserve banking (4 of 7)
Debt (public, private) and money supply (5 of 7)
Historical struggle between government-issued money and private bank-issued credit (6 of 7)
Cost-benefit analysis for monetary reform in your world of the present (7 of 7)
**

4. Debt (public, private) and money supply

Mar 17 18:09

Something Strange Is Going On With Nonfarm Payrolls

Seasonally adjusted these jobs increased by 17,200 in February, the most in two years (Feb 2013 was greater) and the second most in four years. So while economists are blaming the weather for the plunge in housing starts, residential construction jobs were fairly robust in February. This makes no sense.

Mar 17 18:08

Greek PM To Meet With Putin Amid Cash Crunch

News of an upcoming meeting between Tsipras and Putin comes just days ahead of EU Summit and a €2 billion debt repayment, suggesting Athens may be playing one of its few remaining cards.

Mar 17 17:57

Some Thoughts On Long Term Investing

Mar 17 16:31

World’s greatest pyramid scheme: How banks plot to seize your property and life

The bank begins the pyramid scheme by taking your deposit (which you might think goes into the vault) and they loan most of it out. In fact, generally, with some variation, for every $1 dollar that you deposit, the bank will loan out approximately $10. In other words, the bank uses your deposits to loan out more (way more) than they have in reserves in order to make big profits. This is ‘Fractional Reserve Banking.’ The banks only keep a fraction of the overall money on hand.

Mar 17 15:56

Billionaire warns: “Mother of all collapses coming” if central banks stop buying bonds

Obviously, with a crack in the dam, the flood can’t be held back forever

Mar 17 14:32

What Budget Cuts? US Cyber Command to Double Its Spending

Still in its infancy, US Cyber Command is set to receive a massive bump in its budget. For 2015, the cybersecurity organization will receive $364 million; nearly double the $190 million it was allocated for 2014.

Mar 17 14:18

Aaron Russo's America: Freedom To Fascism [Directors Cut]

Webmaster's Commentary: 

Reposted at reader request

Mar 17 13:35

DHS: Obama Amnesty May Require 3,100 New Bureaucrats, $484 Million a Year

If President Barack Obama’s immigration plan gets past a federal court injunction, and if 60 percent of illegals apply for deferred action protection under the plan, the U.S. Citizenship and Immigration Services (USCIS) agency projects that it may have to hire an additional 3,100 employees, with a total program cost of up to $484 million a year.

Mar 17 13:29

Lawmakers Say TPP Meetings Classified To Keep Americans in the Dark

Democratic lawmaker says tightly-controlled briefings on Trans-Pacific Partnership deal are aimed at keeping US constituents ignorant about what's at stake.

Mar 17 13:16

China Gaining Western Allies as Development Bank Partners: “A Blow to U.S. Efforts”

Mac Slavo
SHTFplan.com

Recently, SHTF has pointed out the rise of China and their aim to become a major part of the new global reserve currency, and hence a major weight in the new global order.

China’s renminbi is positioning for major global exchange; the BRICS development bank is taking off, to the chagrin of the U.S. axis of global finance; and the IMF is talking with China about the likelihood of including the yuan in the “basket of currencies” that make up SDRs, or Special Drawing Rights that already includes the dollar, the pound, the euro and the yen.

Now, American leadership is silently watching Anglo partners – and close establishment allies in the post-war world – join ranks with China on its emerging development bank.

Washington’s Blog reports:

Mar 17 12:53

U.S. home construction plunges 17% in February

Construction of new homes plummeted in February, as fierce winter weather froze housing starts in the Northeast and Midwest.

Mar 17 12:43

Irish Ministers Use Taxpayer Pot of Gold to Travel in Style

The bill for Ministerial trips abroad between 2011 and 2014 has been exposed by The Journal in Ireland. Flying in jets, hiring limousines and staying in hotels across America to celebrate St. Patrick's Day has cost the Irish tax payer €705,050.

Mar 17 12:34

Peter Schiff : Dollar Too Strong QE4 Coming

Mar 17 12:23

IMF BREAKS ITS OWN RULES WITH LOAN TO WAR-MONGERING UKRAINE

The International Monetary Fund (IMF) has agreed on a scheme of war financing for Ukraine. For the first time, according to Fund sources, the IMF is not only violating its loan repayment conditions, but also the purposes and safeguards of the IMF’s original charter. IMF lending is barred for a member state in civil war or at war with another member state, or for military purposes, according to Article I of the Fund’s 1944-45 Articles of Agreement. This provides “confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.”

Mar 17 12:06

TOWARDS THE END OF THE U.S. DOMINATED INTERNATIONAL MONEY SYSTEM

Welcome to the end of Brenton Woods and the Washington Consensus that defined the world money systems around U.S. controlled institutions and the U.S. dollar as the sole reserve currency.

Mar 17 11:41

War on terror : a self-licking ice cream cone

Max Keiser and Stacy Herbert discuss the business model of the war on terror in which the droning of wedding parties is nothing personal just business. Same goes for de-dollarization as China builds an alternative to SWIFT - nothing personal, just business. Max interviews former CIA agent and open source advocate, Robert David Steele, about false flags and moral hazard.

Mar 17 11:04

Detroit businesses face water shut-offs

The city’s water department this week plans to step up enforcement of overdue business accounts to collect tens of millions in lost revenue, but it won’t shut off residential water until a proven safety net is in place.

Mar 17 10:48

Biodiversity or GMOs: Will The Future of Nutrition Be in Women's Hands or Under Corporate Control?

Women have been the primary growers of food and nutrition throughout history, but today, food is being taken out of our hands and substituted for toxic commodities controlled by global corporations. Monoculture industrial farming has taken the quality, taste and nutrition out of our food. As a result, India is facing a nutritional crisis: every fourth Indian goes hungry, and in 2011 alone, diabetes took the lives of 1 million Indians.

Now, the same companies who created the crisis are promising a miracle solution: GMOs (genetically modified organisms). Genetically engineered Golden Rice and GMO Bananas are being falsely promoted by corporations hiding behind the cloak of academia as a solution to hunger and malnutrition in the Global South. Indigenous biodiverse varieties of food grown by women provide far more nutrition than the commodities produced by industrial agriculture. Golden Rice is 350% less efficient in providing vitamin A than the biodiversity alternatives that women grow. GMO ‘iron-rich’ Bananas have 3 000% less iron than turmeric and 2 000 % less iron than amchur (mango powder). Apart from being nutritionally empty, GMOs are part of an industrial system of agriculture that is destroying the planet, depleting our water sources, increasing greenhouse gases, and driving farmers into debt and suicide through a greater dependence on chemical inputs. Moreover, these corporate-led industrial monocultures are destroying biodiversity, and we are losing access to the food systems that have sustained us for millennia. When we consider the number of patents involved in these initiatives, it becomes all too clear that the only beneficiaries of these supposedly ‘people-led’ ventures are large companies operating for profit, not for people.

Mar 17 10:25

Map: Where working women have it best

Mar 17 10:20

Germany faces paying billions to Greece in compensation for wartime atrocities after Merkel's senior advisers warn her Athens DOES HAVE a valid claim to reparations

Senior figures in Chancellor Angela Merkel's coalition partner in government - the SPD - have united with the Green Party to declare Germany should compensate Greece to the tune of billions of pounds for wartime Nazi atrocities.

The demands come as parliamentary lawyers warned her cabinet that Greece may have a valid claim which Germany might lose if it chose to fight it all the way to the European Court of Justice.

The solidarity move threatens the united front Berlin has presented to Athens as it tries to keep the struggling country both in the eurozone and the EU. Now high-profile politicians from the SPD and the Greens have thrown their weight behind Greece to say they deserve reparations money 70 years after the end of the conflict.

Mar 17 10:13

Britain's big six energy giants see their profits rise almost 1,000% in just five years as family bills soar

In 2007 the energy giants were pocketing £2.31 in pure profit from each household for their gas or electricity. By 2013 this had risen to £23.71, according to the Competition and Markets Authority.

Mar 17 09:06

MAJOR AMERICAN ALLIES IGNORE U.S. PLEAS AND JOIN CHINA’S ALTERNATIVE BANK

he Financial Times now reports that France, Germany and Italy have all agreed to join the China-led international development bank as well, “delivering a blow to US efforts to keep leading western countries out of the new institution.” This week, 2 major U.S. allies – 2 of the “Five Eyes” – have disregarded American pleas and joined China’s new development bank … alternative to the US-dominated IMF and World Bank lending order. (A third member of the Five Eyes – New Zealand – previously signed onto the Chinese bank.)

Mar 17 08:33

What can creditors take in a bankruptcy?

Dear Bankruptcy Adviser,
I am on very limited income: unemployment and early Social Security. If I file Chapter 7 bankruptcy, can my creditors such as banks (for my charge cards) take my personal items such as jewelry, clothes or furniture? Should I do something with these items before filing? And will Chapter 7 delay my home foreclosure?

Mar 17 08:31

Stay Alert Against Fake Calls And Emails IRS

Tax scams take many different forms. Recently, the most common scams are phone calls and emails from thieves who claim to be from the IRS. They use the IRS name, logo or a fake website to try to steal your money. Also, they may try to steal your identity. Here are some tips from the IRS to help you avoid becoming a victim of these types of tax scams:

http://whatisusa.info/stay-alert-against-fake-calls-and-emails-irs/

Mar 17 08:24

Fund managers fleeing U.S. stocks on rate-hike fears: Merrill Lynch survey

Investors are shunning U.S. equities at the highest rate since the financial crisis on speculation that the Federal Reserve will raise interest rates in the second quarter, according to the monthly B.of A. Merrill Lynch Fund Manager Survey.

Mar 17 08:15

Spanish Bank Seeks Creditor Protection After Withdrawals

Banco de Madrid SA stopped operations and is seeking protection from creditors after the U.S. accused its parent, Banca Privada d’Andorra, of money laundering.

Customers of the Spanish bank withdrew significant amounts of funds, leading to a “strong deterioration” of its financial situation, according an e-mailed statement Monday from Banco of Spain, the central bank. Client deposits of up to 100,000 euros ($105,000) are guaranteed by Spain’s deposit-guarantee fund, the central bank said.

Mar 17 08:13

“To be or not to be” part of the establishment

The immortal words uttered by Prince Hamlet as he contemplates death and suicide, applies for an entire society

Mar 17 07:56

Mcdonald’s Employees Talk About Workplace Hazards

McDonald’s workers in 19 cities have filed complaints against the company suffered burns fat because jumping from the frying pans, lack of protective equipment for them and other risks of work, according to labor organizers.

Complaints are the latest step in a campaign for a wage increase to remunerate workers $ 15 per hour and allow unionization of employees in the branch of fast food, which is pressuring McDonald’s to go to the negotiating table.

http://whatisusa.info/mcdonalds-employees-talk-about-workplace-hazards/

Mar 17 07:09

Italy, Spain to follow if Greece exits eurozone, says Greek defense minister

Panos Kammenos, Greece's defense minister, spoke to German newspaper "Bild" on Saturday, saying his country's leaving the euro could precede an exit by Italy and Spain, followed by Germany in the future.

Mar 17 07:09

No, the minimum wage isn't forcing these Seattle restaurants to close

David Watkins of the Lawyers, Guns & Money blog points out that the minimum wage opponents are declaring "We told you so" way too soon. In fact, the article that inspired the gloating doesn't ascribe any of the closings to the minimum wage increase and, indeed, points to different reasons in every case. As for the idea that Seattle restaurants are "closing in record number" (sic), as the Tea Party News Network proclaims, it's just not so

Mar 17 07:07

"Colossal Defeat" For Obama As Australia Joins China's Regional Bank

Having attacked its "closest ally" UK for "constant accomodation" with China, we suspect President Obama will be greatly displeased at yet another close-ally's decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, "make no mistake," the decision by Australia's Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, "represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted dip­lomacy in Asia."

Mar 17 06:55

Defying U.S., European allies say they'll join China-led bank

Germany, France and Italy said on Tuesday they had agreed to join a new China-led Asian investment bank after close ally Britain defied U.S. pressure to become a founder member of a venture seen in Washington as a rival to the World Bank.

Mar 17 06:55

Paul Krugman exposes how Netanyahu used Iran to conceal Israel’s economic disaster

The real reason behind Israeli Prime Minister Benjamin Netanyahu’s recent anti-Iran speech to Congress had nothing to do with foreign policy, Paul Krugman opines in Monday’s column. Insulting the president is not the way to go about that. No, Netanyahu has a serious problem at home and polls suggest that he may well get the boot in Tuesday’s election. That problem might sound familiar—Israel has become almost as unequal as America, and there is widespread economic discontent in the country that once was built on the socialist ideals of the kibbutz syztem.

Mar 17 03:26

Four Numbers That Prove America Is a Deeply Messed-Up Place

There's something perversely wrong with a society that creates $30 trillion in new wealth while putting six million more children on food stamps.

Mar 17 00:41

King5 Follow Up on Safeguard/LPS Unlawful Foreclosure with Attorney Ha Dao on RCW 7.28.230(1).

Monday, March 16, 2015

KingCast and Mortgage Movies King5 Follow Up on Safeguard/LPS Unlawful Foreclosure with Attorney Ha Dao on RCW 7.28.230(1).

Life is good for Safeguard... because they are friends with the Bush family.
Just do your due diligence you'll find it.

Here is the King5 feature story from March 3, 2015

"It's a tricky business accessing property that the bank doesn't truly own, and Beal says the industry known as "property preservation" has plenty of faults. "The pressures are pretty intense," said Beal. A KING 5 Investigation shows that those pressures may be one reason behind numerous complaints filed with attorneys, housing assistance groups, and the Washington Attorney General's Office. Typically, a homeowner complains that they have not abandoned the home, yet but have been locked out or found their personal property is missing."

Says Attorney Dao:

Mar 16 19:08

Nomi Prins - People Don’t Have Any Money

So, is anything in the financial sector actually fixed? Former top Wall Street banker Nomi Prins contends, “We have many trillions of dollars and government policy trying to basically cover up the holes in the entire financial system that could create another Lehman or multiple Lehmans. So, we have a white wash or a hole in the wall that’s been plastered over many, many, many times. The hole is still there. The danger is still there. The co-dependency is still there. The leverage is still there. . . .It all look like there has been this cosmetic shift supporting these banking institutions rather than supporting, from the bottom up, the economies of these countries. That has the effect of creating deterioration in any of the assets that these banks are still financing. . . . “Buying securities does not help people get jobs. It does not help industries to continue to innovate. It does absolutely nothing for spreading a foundation of solid economics throughout the population.

Mar 16 18:34

Similar Periods of Historic UD Dollar Surges?

Mar 16 18:27

FLASHBACK - First Audit Results In The Federal Reserve’s Nearly 100 Year History Were Posted Today, They Are Startling!

$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

Mar 16 18:24

US blows through $18trn debt limit

On Monday, the US reached its legal debt limit of $18 trillion -more than the country’s entire GDP. Lawmakers will either have to again lift it, or attempt to cap spending.

Webmaster's Commentary: 

The question Americans should be asking is not whether to raise the debt ceiling, but rather why the Federal Government, which is authorized by the Constitution to create and issue interest-free money, instead borrows that money at interest from a privately owned central bank, thereby plunging future generations into debt slavery to that bank? THAT is the real question Americans should be asking!

Mar 16 17:57

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (4 of 7)

*hyperlinks live at source*

The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections:

Instructions (1 of 7)
Contextual orientation: seeing the past as clearly as possible (2 of 7)
Money and bank credit (3 of 7)
Fractional reserve banking (4 of 7)
Debt (public, private) and money supply (5 of 7)
Historical struggle between government-issued money and private bank-issued credit (6 of 7)
Cost-benefit analysis for monetary reform in your world of the present (7 of 7)
**

3. Fractional reserve banking

Mar 16 17:50

American Amoeba

The transparent truthlessness of the Fed’s basic premises go far to explain the chasm between official policy and reality — though it does not explain the appetite for plain lying of the supposedly informed minority cohort of the public, the deciders among us in business, politics, and media. For instance, the employment numbers that came out of the federal government ten days ago saying that the jobless rate is just over 5 percent. Everybody not in a special ed class in America knows that this is a barefaced lie. But nobody except a few mavericks on the web (see above) object to it. Lesser official oracles such as The New York Times and the Wall Street Journal report the lie without reservation and it gets absorbed into the body politic like any other morsel of protoplasm into the mindless amoeba that America has become.

Mar 16 16:42

Chart Review - Return To Reality

Mar 16 15:50

Irish economy was wrecked by 50 tycoons who cost taxpayer €64bn, study claims

An elite group of around 50 men ran up massive debts that brought the country to the brink and cost the taxpayer more than €64billion.

Mar 16 15:06

Billionaire Warns: “Mother of All Collapses” Coming If Central Banks Stop Buying Bonds

Mac Slavo
SHTFplan.com

Self-made billionaire and founder of Sprott, Inc. and Sprott Asset Management, Eric Sprott, gave a dire warning about the state of the system that makes clear the globe is hinged on little more than a little Dutch boy with his finger in the dyke.

Obviously, with a crack in the dam, the flood can’t be held back forever.

In an audio interview with King World News that can be heard here, Eric Sprott made clear that the central banks are the only ones holding up the illusion.

Case in point is the rise of negative interest rates, which Sprott called ‘preposterous.’ Offering negative returns to investors, the instruments are clearly unsustainable. Sprott told King World News:

Mar 16 14:37

Banks Say “Thanks for the Bailout,” Now We’ll Park our Profits in Overseas Tax Havens

Giant financial institutions that benefitted from federal bailouts during the depths of the recession have repaid the American people’s largesse by hiding profits overseas to avoid paying their fair share of taxes.

Mar 16 14:29

West losing up to €40bn from sanctions war– leading Russian MP

Western countries are experiencing loses of up to €40 billion as the sanctions imposed by them on Russia impede productive cooperation, claims Aleksey Pushkov, Chairman of Russian State Duma Committee on Foreign Affairs.

Mar 16 14:12

Ukrainian President: Enormous IMF Loan Won’t Help Ordinary Ukrainians

Ukrainian President Petro Poroshenko has admitted that a new $17.5 billion loan from the International Monetary Fund and its associated austerity measures will not improve the lives of ordinary Ukrainians—but will help pay foreign creditors and fund the country’s ongoing civil war.

Mar 16 13:02

Greek exit mooted by German finance minister

German Finance Minister Wolfgang Schäuble said Friday a disorderly Greek exit from the eurozone could not be excluded if Athens fails to reach a deal with its international creditors.

Mar 16 11:35

US Manufacturing Output Falls For 3rd Month - Worst Since Lehman

Along with a massive revision for January (from +0.2% to -0.3%), February's Factory Output fell 0.2% (missing expectations for the 3rd month in a row). This is the 3rd drop in a row for factory output - the worst run since 2009. Overall industrial production missed for the 3rd month in a row but managed a meager 0.1% rise on the back of the biggest rise in utility output ever. Auto vehicles and parts production tumbled 3.0% MoM.

Mar 16 10:31

Oil Tumbles Under $43 As Key Support Breached; Fresh 6 Year Lows

Moments ago, soothing words by Saudi Arabians notwithstanding, both Brent and WTI, had another step move lower, with Wext-Texas Intermediate sliding under $43, a fresh 6 year low, and well below the January lows of $44.37!

What may be causing it: well, aside for "more sellers than buyers", and a rumor that Genscape reporting another major inventory build at Cushing, a breach of a key support line may be the reason. BofA explains.

CLJ5 has broken down overnight, breaking the Jan-29 lows at 44.37 (CLK5 needs to break 45.52, it's not there yet).

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