ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 17 11:47

Beyond The Fear Of Living Without Money

Living without money is an issue that many are concerned about but not many people are talking about solutions. Many of us already live in either poverty or near poverty levels. Is the answer found in government assistance and the material world or is it found in going beyond this ego-centered, materialistic world and finding a new way of living?

The world’s economy is based on economics, which is backed by the banking system that is designed to create debt. For example, imagine that I am your local conglomerate bank and there was only $100 in existence. If I lent you that $100 and expected you to pay me back $110, how can you possibly do this when there is only $100 in existence? Where are you going to come up with that $10 extra dollars that never existed? This is the global Ponzi scheme that banksters have been playing since the inception of currency.

May 17 11:46

Oreo Cookies To Lay Off 50% Of Chicago Bakery

May 17 09:19

The War On Cash Destroys A Small Entrepreneur

Banks are legally obligated to report any deposit of more than $10,000 to the U.S. Treasury Department. But if an individual makes several cash deposits of less than $10,000 over an unspecified period of time that total more than $10,000, then he is presumed to be a money launderer or drug trafficker who is committing the dastardly crime of structuring, that is, seeking to circumvent the bank’s reporting requirement and maintaining the privacy of his financial affairs Thus banks are also required to file “suspicious activity reports” on cash deposits of less than $10,000. Based on these reports, if one is merely suspected–not convicted–of structuring, his bank account is seized by the IRS under “civil asset forfeiture” laws, which permits seizures of money or other property suspected of being related to a crime.

May 17 09:19

With plane delivery, Iran sanctions collapsing already

With a deadline to end nuclear negotiations less than two months away, the sanctions against Iran are already beginning to collapse. The latest evidence came over the weekend when nine used commercial airliners arrived in Iran to bolster the fleet of Mahan Air.

The US has threatened to sanction Western companies that sell planes to Iran, although a prohibition against Iran acquiring airplane spare parts was lifted in an interim agreement signed with Iran at the end of 2013.

May 17 09:16

Why The IRS Seized All the Money from a Country Store

Lyndon McLellan owns the L&M Convenience Mart in rural North Carolina. A few months ago, the Internal Revenue Service went to McLellan's bank and seized all the cash in his store's account.

Why?

McLellan had violated a "structuring" law by making cash deposits of under $10,000. Structuring laws are supposed to catch drug traffickers and money launderers. But small business owners can also unknowingly run afoul of these laws.

May 17 09:03

The Secret Fed Paper That Advocated a "Carry Tax" on All Physical Cash

Many commentators have noted that mainstream economists are calling to do away with cash entirely.

It would be easy to scoff at these proposals as completely insane if the Fed hadn’t published a paper back in 1999 suggesting the implementation of a “carry tax” or taxing actual physical cash using an expiration date if depositors aren’t willing to spend the money.

May 17 09:01

Leading German Keynesian Economist Calls For Cash Ban

At this stage, a sane person might be tempted to call it a day on the monetary experiments, especially considering that at this point, the limits have been reached. That is, there are literally no more assets to buy and rates have hit the effective lower bound where rational actors will eschew bank deposits in favor of the mattress. But not so fast, say folks like Citi’s Willem Buiter and economist Ken Rogoff: the world could always ban cash because if you eliminate physical currency and force people to use a debit card linked to a government controlled bank account for all transactions, you can effectively centrally plan everything.

Webmaster's Commentary: 

Central plan = total dictatorship. And central planning has never worked. Just look at the old USSR!

May 17 08:47

If “Too-Big-to-Fail’’ Means “Too-Big-to-Jail” It Should Mean “Too-Big-to-Be” - The US needs the Iceland option

Compare the US to Iceland, a country that responded to the same banking crisis of 2008 by aggressively prosecuting and jailing its top bankers. This past February, Iceland’s Supreme Court upheld the convictions and sentences of four top executives of Kaupthing Bank, one of the country’s biggest financial institutions. Those bankers are will now be serving four-to-five-year sentences for their felonies, at least if they want to ever return to Iceland. A number of other Iceland bankers, including top executives of three of the country’s top banks, were convicted earlier and sentenced to prison terms.

May 17 08:36

ALERT: DFA Warning New TPP Provision Would Cut Medicare $700 Million to Help Pay for Trade Aid

Just received a mailing today from Democracy for America with an alert that a new provision in the pending TPP Trade Bill, inserted by the GOP of course, would cut $700 million from Medicare to pay the cost of a Democrat-backed proposal to provide aid to workers who lose their jobs because of TPP.

May 17 08:34

Amtrak Budget Cuts Amount to Derailed Priorities in Washington

Larry Hanley, International President of the Amalgamated Transit Union, says there has been a military junta in the United States since September 11th of 2001, and our national priorities have shifted primarily out of fear.

Webmaster's Commentary: 

The US has been under an unannounced wartime economy for the last 13 years, and the nation's infrastructure is starting to show it!

May 17 04:01

Retail Sales vs. GDP

May 16 22:49

Congressman: We Need More Taxes!

May 16 22:10

To Smell the Putrid Smell of a City on Fire

May 16 19:17

This Jet Engine was made by a 3D printer

Engineers have made a fully-functional jet engine using a 3D printer

One of the most exciting technologies to emerge in recent time, 3D printing has a become a popular but limited method of manufacturing - until now. Engineers at GE Aviation’s Additive Development Center in Cincinnati have made the world’s 3D printed first jet engine using one of the devices.

May 16 18:13

Chart Of The Day——-One Scary Graph

May 16 17:54

More than 1,000 plaintiffs file lawsuit to keep Japan out of TPP

More than 1,000 people filed a lawsuit against the government on Friday, seeking to halt Japan’s involvement in 12-country talks on a Pacific Rim free trade agreement, which they called “unconstitutional.” A total of 1,063 plaintiffs, including lawmakers, claimed in the case brought to the Tokyo District Court that the proposed Trans-Pacific Partnership would undermine their basic human rights under the Constitution.

May 16 16:06

If AVP Doesn't Scare You, BaoFeng Should!

May 16 14:54

Family income $100k+

May 16 14:25

Reply to a Reader’s Complaint about Anti-American Pro-Russian Bias

I recently received a sharp complaint from a reader about an assumed anti-American pro-Russian bias in my writings. The complaint gives a very good opportunity to address questions on the minds of many in the West confused by an extremely biased pro-Washington, anti-Russian bias in mainstream media coverage of Ukraine and Russia as the new demon to be fought.

First, Mr. Schneider, let me say I am an American and I am definitely not anti-American. I love my country and my fellow Americans.

What I do not love is the clique of very rich who—especially over the past three decades since the time of Reagan and Bush Senior—have step-by-step subverted the American Constitution and its guarantees of citizen rights, have destroyed prudent regulation of the health and safety of American citizens by easing safety rules of the Environmental Protection Agency to benefit companies like DuPont or Monsanto at the expense of the public.

May 16 14:03

Aipac Wants Congress to Criminalize BDS

Of all the lame-brained, lumpen-brained, hare-brained schemes emanating from Aipac’s lobby shop, this is one of the truly lamest. As Israel forms the most dangerous, aggressive, racist government in its history, Aipac thought this was a good time to remind the American people of that by conniving to amend an already contentious fast-track trade bill with a new amendment that would criminalize BDS in the U.S.

May 16 13:01

The U.S. Debt Clock

(*My poor boss doesn't get it . You should hear him cry the blues over all the money he says the company is losing . Sixtysome back breaking hours last week , I'm zombiefied as I write this comment .
Here is an economy that is losing money like a sieve , but he's expecting to MAKE money .
We're in a sphere that is falling like the Times Square New Years Eve Ball , so even if you think your money is going up , or if my boss thought he was making money , working us to the bone , or even if I beli~eved that all that work was paying off , the economy it appears to be happening in is nose diving .
He's a great guy , and the job , as much of a slave condition an environment as it seems , keeps me occupied , but still , I haven't the chutzpa to show him the debt clock , so maybe he can see why he's been so heavy on the 'Pepto' , lately . )

May 16 08:47

Why Has The News Ignored Austerity Protests? Russell Brand The Trews

May 16 08:20

Canadian corporations hoarding record amounts in offshore tax havens

In 2014, Canadian corporations sent nearly $200 billion offshore, costing us nearly $8 billion in tax revenue.

May 16 08:03

105 Seconds Of Economic Clarity

May 16 08:02

Britain’s richest are 105 times better off than the poorest

The UK’S richest 20 percent have more than one hundred times the wealth of the poorest 20 percent

May 15 17:46

3 Things: The Labor Hoarding Effect

May 15 15:24

The Coming Collapse Of Real Estate

May 15 14:33

IMF demands will make most Ukrainians homeless - Finance Minister of Ukraine

Fulfilling the requirements of the IMF will make the majority of Ukrainians homeless - said the Minister of Finance of Ukraine, according to Ukrainian portal MIGnews.

May 15 14:14

Blue Bell to lay off one-third of employees

May 15 14:05

U.S. Farmers In “Dire Straits”: JPM Warns Of Imminent Liquidity Crunch

Despite the government’s ‘advice’ to young debt-laden students, the tragedy of the American farmer continues with worryingly pessimistic views on the future of the industry.

With farmland prices falling for the first time in almost 30 years, credit conditions are weakening dramatically and the Kansas City Fed warns that persistently low crop prices and high input costs reduced profit margins and increased concerns about future loan repayment capacity, and JPMorgan concludes, the industry is currently in dire straits with the potential for a liquidity crunch for farmers into 2016.

Not so long ago, US farmland – whose prices were until recently rising exponentially – was considered by many to be the next asset bubble. Then, almost overnight, the fairy-tale ended, and as reported in February, US farmland saw its first price drop since 1986.

May 15 13:54

Banks Rule the World, but Who Rules the Banks?

These days, it is already a truism that the hegemony of the US is based on the Federal Reserve System’s (FRS) printing press. It is also more or less clear that the shareholders of the FRS are major international banks. These include not just US (Wall Street) banks, but also European banks (London City banks and several in continental Europe).

May 15 13:47

What Are They Thinking?

Webmaster's Commentary: 

Time for a repost!

May 15 13:46

Here’s How Your Senator Voted On TPP

May 15 13:39

How to keep the DEA from taking all your cash

May 15 12:35

PUBLIC PRESSURE FORCES IRS TO GIVE BACK MONEY TO CIVIL FORFEITURE VICTIM [VIDEO]

After publicly humiliating the Internal Revenue Service, a North Carolina man received more than $100,000 from the agency. Lyndon McLellan had the bank account for his convenience store seized by the IRS, and at first he wasn’t even sure why. The agency used civil asset forfeiture laws to take McLellan’s money without convicting or charging him of a crime.

May 15 12:10

Why successful people leave work early

May 15 11:28

Awaken slaves! - How The Private Central Bank Ponzi Scheme Trapped And Destroyed America

Faced with the possibility that a new Amendment to transfer money creation from the US Government to a privately owned bank might fail and fail badly, and with the name "Third Bank of the United States" already leading to opposition to the plan, the plotters did an end run around the Constitution, passing the Federal Reserve act over Christmas vacation when the members of Congress opposed to the bill would be away. The name of the new bank was then changed to "The Federal Reserve." But, it is a private bank, no more "Federal" than Federal Express. From that moment on all currency would enter circulation as a loan at interest.

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May 15 11:27

THE ELEVENTH MARBLE

Any five-year old child knows that if you put ten marbles into a tin can, you can only take ten marbles back out. No amount of wishful thinking, dreaming, or praying, will yield that eleventh marble from inside that can. That eleventh marble does not exist. It never did, and it never will. All discussions about the eleventh marble are the product of imagination. The eleventh marble is a fantasy.

Private central bankers issuing the public currency as interest-bearing loans operate on the belief that they can put ten marbles (dollars) into a tin can (the world) and magically get 11 marbles (dollars) back out. Thus, we may conclude that the bankers are dumber than five-year old children!

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May 15 11:26

THE FATAL FLAWS IN WALL STREET'S ECONOMIC THEORY

Greenspan and the members of Congress relied heavily on euphemisms like "ideology" and spoke in vague terms to obfuscate from the American people that there are fundamental flaws in the way the US Financial system works.

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May 15 11:25

HOW YOU BECAME A SLAVE TO THE BANKERS!

Then, in 1913, a corrupt Congress and a corrupt President changed the structure of the nation's economy and stole your freedom to say "no"! The economic system was reverted to a mirror of that same system the nation fought a revolution to be free of. The power to issue money was taken away from the government and given to the bankers and from that day onward, ALL money in circulation was created as the result of a loan at interest from the bankers to the government, to business, and to the people. There is no exception. Every dollar paid in salary, spent to purchase food or gas, or paid in taxes, began as an interest bearing loan. There is no money in circulation in the United States that did not start out as a loan at interest from the bankers at the privately-owned Federal Reserve system.

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May 15 11:22

Chicago faces huge cost to avoid financial collapse

According to Chicago's Bill Brandt, a municipal finance expert who was involved in the recent Detroit bankruptcy, the market probably will allow Chicago to refinance up to $2.2 billion in variable rate debt, short-term loans and swaps that now are subject to demand for immediate repayment, thanks to the decision by Moody's Investors Service earlier in the week to drop Chicago debt to junk level. "My sense is that this is a situation where serious people will be sobered by the consequences of pre-emptory action," said Brandt, who is president of Chicago-based DSI and served two stints as chairman of the Illinois Finance Authority.

But there will be a price, Brandt said. The cost "could be as much as a couple of hundred basis points" more than Chicago normally would have to pay.

May 15 11:07

Food Prices Consistently Soaring 20% Per Year

May 15 10:43

Tylenol Murders Website Opened

Michelle Rosen, daughter of one of the seven Tylenol murder victims of 1982, has launched a Tylenol Murders website, vowing to take down what she calls “the empire of lies and corruption” surrounding the incident.

The website links to a video Rosen has created that has coverage by ABC-TV News, Wall Street Journal and other media that have carried her claims.

Most coverage, as tracked by this website, has positioned J&J’s handling of the murders as the “gold standard in crisis control,” a phrase used by the May 28, 2007 Fortune magazine.

May 15 10:14

Best Argument I’ve heard for Universal Basic Income

Perhaps one of the most concise and persuasive arguments I’ve ever heard in favor of a guaranteed universal basic income. It lays to rest the spurious argument that people should not get money “for free” or without doing anything productive for it. But it turns out property owners do it all the time when they charge rent or interest.

May 15 10:10

TPP: The Dirtiest Trade Deal You’ve Never Heard Of

May 15 10:04

The Democratic Party Would Triangulate Its Own Mother

Triangulating – beating up on the ideologues within your own party in order to shore up your centrist cred and reassure your money sources – is an especially brilliant solution for Democrats targeting national office. Those politicians need virtual monopolies on union and minority votes, but also need just enough centrists and white southerners to stay viable. To keep those latter votes, you need to make a few very conspicuous moves from time to time.

That's surely what happened here with the TPP, a monster deal with the potential to reshape not just our trade profile but our domestic financial regulatory structure. Along with a Democratic Party that would love one last chance to prove itself to Wall Street heading into 2016, Obama badly wants this deal passed, perhaps as a way to steer his legacy in a more bipartisan direction before he rides off into the sunset.

May 15 10:02

Chinese Government Inc. has Invested $81 Billion in U.S. in Last 10 Years

One of China’s great resources is its seemingly endless supply of American dollars to put in the world economy. Much of that money has been returned to the United States in the form of investments.

Over the past 10 years, China has invested or contracted to invest more than $81 billion into U.S. companies, according to data compiled by the American Enterprise Institute and the Heritage Foundation.

Webmaster's Commentary: 

China has those dollars to invest because China understands that for a nation's economy to operate, that nation must have products to export equal to the products that it imports. China is a manufacturing powerhouse. The US financial system sees itself as financier to the world because of Bretton-Woods and the Petro-dollar, and allowed US manufacturing to decline on volume, quality, and expertise. As a result, the US imports far more products that it has to export, due both to the decline of manufacturing and avoidance of US GMO produce. In March of this year the trade imbalance was $51 billion dollars.

China is on the other side of that equation, exporting more products than it needs to import, and in March of this year, sold $31 billion more in products to the US than it bought from us.

A major part of the PPT and TTIP treaties is to arm-twist other nations to balance trade with the US by buying more products, even if they don't really want them (including the GMOs).

But this is not a solution. If we are ever to get the United States back on track, we need to end the slavery to the money-junkies, stop waging war on everyone who is better at commerce than the US, and redirect the nation's energy into developing new technologies on which new products and industries can be based.

A good model for that is the 1960s race to the Moon. Contrary to critics who portrayed the costs of Apollo as money just shot into space, the technological innovations created by solving the problems of going to the Moon powered the economic and tech booms of the 70s, 80s, and 90s. Sadly, short-sighted CEOs decided that their own paychecks and bonuses were better served by selling the technology to other nations, which is why those nations, China in particular, now make vast fortunes manufacturing products based on US innovations!

But, we did it before, and we can do it again.

As long as we can force new leaders into power for whom America is their top priority, rather than Wall Street, their own personal fortunes, and a certain foreign nation!

May 15 09:46

Florida Gov Scott Preparing For Shutdown

One would think since the Republicans were the majority in both the Florida House and Senate a state shut down would be a non issue but that is not the case.

Governor Scott is worried it could become a reality as the July 1st deadline approaches and negotiations are not where he would like them to be. That is why on Thursday he told agency heads to prepare for the worst and asked them to list only the state’s most critical needs per the Associated Press.

May 15 09:37

Will Spike In Rates Hurt Stocks?

May 15 09:27

Mind the gap: Britain’s richest are 105 times better off than the poorest

The UK’S richest 20 percent have more than one hundred times the wealth of the poorest 20 percent, with the combined household wealth of £9.1 trillion remaining for the most part in the hands of the elite.

May 15 08:59

CBC Video - The case against Bank of Canada

May 15 08:52

10 more desperate Letters from Parents - "CPS stole my Kids"

Ever since we began publishing horror stories from parents about how the Department of Child Protective Services unjustly took their children away, we have been inundated with requests from other wrongly victimized parents. They ask us to shine a light on their plight because nobody else will. Their children have been stolen from them for no legitimate reason and they can’t get them back. There are thousands of them and they need help. Here are just a sampling of letters we received over a six-week period.

May 15 08:46

'We Will Not Surrender Our Voices': British Teens Lead Thousands-Strong Protest Against Austerity

A spirited protest against austerity reportedly led by teenagers swept Bristol, England on Wednesday, drawing thousands to the streets and garnering widespread media attention just days after the country's electoral lurch to the right.

Webmaster's Commentary: 

The lurch to the right is marked by continuing reports of voting "irregularities."

May 15 08:11

Fingerprints 'can reveal drug use'

They argue the test could be useful in prisons, drug abuse clinics and even for routine testing in the workplace.

May 15 07:48

The Economy Is On Track To Implode

May 15 07:34

A Worldwide BIBLICAL Financial Event Is Near

May 15 05:57

WHY BIG BUSINESS PROFIT IS THE REAL REASON BEHIND NSA SURVEILLANCE

The US Surveillance State is scrambling to save itself in the wake of a federal ruling that declared the bulk collection of metadata under a provision of the Patriot Act, which is set to expire on June 1, illegal . But the reason for so many ‘experts’ touting the benefits of surveillance, goes beyond the basic desire to spy on Americans. Because, as you might imagine, “terrorism” is big business.

May 15 05:56

Workers Want More Flexibility

Providing flexibility to your employees can go a long way in keeping them happy.

And that’s exactly what workers say they want, according to a new survey of 9,700 full-time employees in eight of the world’s largest economies..

May 15 05:52

MORE THAN HALF OF AMERICANS THINK THAT “THE CLOUD” IS RELATED TO WEATHER

According to a recent survey, a majority of Americans are totally confused about cloud computing. The survey was conducted by Wakefield Research for Citrix, and included over 1000 participants. The results of the study showed that roughly 51 percent of those questioned believed that rain clouds caused interference with devices that were connected to “the cloud.”

May 14 19:40

Food Prices Consistently Soaring 20% Per Year

May 14 18:10

Middle Class? What Middle Class?

May 14 17:28

New investigation of IRS Obamacare fraud announced by Senate

Sen. Rob Portman (R-Ohio), the chairman of the Senate's Permanent Subcommittee on Investigations (PSI), notified the HHS secretary, Sylvia Burwell, that his PSI has launched an investigation into the alleged mismanagement of the so-called Obamacare exchanges. Portman's letter to Burwell noted his concerns over reported incidents of fraudulent information being processed in order to calculate healthcare subsidies. It is believed the process has been unfair to those Americans who bought insurance through the numerous exchanges and that taxpayer dollars are being misappropriated, such as illegal aliens having completely free healthcare coverage.

May 14 16:06

Making the Leap from Consumer to Producer

By Brian Berletic

Consuming seems like a natural thing to many. We are born and raised in increasingly consumerist societies no matter where we live. The idea of "doing something yourself" strikes some as a shabby alternative to the super-sleek status symbols and ultra-convenient prepackaged everything waiting on the shelves for us.

However, at the same time, perhaps paradoxically, many of us feel there is something fundamentally wrong with this sort of society and in particular the dependency and sometimes outright laziness and ignorance bred by consumerism...

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