ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 21 07:21

The Federal Reserve – Which CREATED Quantitative Easing – Admits QE Doesn’t Work

The Vice President of the Federal Reserve Bank of St Louis (Stephen Williamson) writes in a new Fed white paper (as explained by Zero Hedge):

The theory behind Quantitative Easing (QE) is “not well-developed”

The evidence in support of Ben Bernanke’s views on the transmission mechanisms whereby asset purchases affect outcomes are “mixed at best”

Webmaster's Commentary: 

Q.E. was nothing more than a bailout for Wall Street on the backs of the American people who may the price for the inflation all this new money has created.

Click for larger image

Aug 21 07:18

Far left splits from Tsipras as Greece heads to elections

Rebels opposed to Greece's international bailout walked out of the leftist Syriza party on Friday, formalising a split after its leader Alexis Tsipras resigned as prime minister and paved the way for early elections.

Greece's president gave the conservative opposition a chance to form a new government following Tsipras's resignation on Thursday, but the country appears almost certain to be heading for its third election in as many years next month.

Webmaster's Commentary: 

You have to question the sanity of anyone who wants the job at this late stage!

Aug 21 07:03

HP's layoffs will exceed 55,000 people, CFO says

HP's CFO Cathie Lesjak says the company will cut up to an additional 5% more people from its workforce than the 55,000 people it had planned to eliminate.

Aug 21 06:58

Macedonian police teargas thousands of refugees crossing from Greece - reports

Macedonian police fired tear gas at crowds of thousands of migrants and refugees trying to cross the border from Greece, Reuters reported. The country declared a state of emergency on Thursday over the migrant crisis.

Police fired tear gas from behind barbed wire as an angry crowd demanded passage through Macedonia.

Aug 21 02:40

Greek Prime Minister To Resign, Announce Snap Elections

Resignation seen as attempt to forestall political revolt following approval of new bailout package and austerity measures in economically-battered nation.

Aug 21 02:33

Germany and France: Leading Actors in Greek Drama - Part II

Germany wants to play the leading role when it comes to financial and economic issues regarding other states of eurozone. It meets the immediate interests of its big business which uses the debt situation to its advantage by accumulating assets abroad. The European Commission, which in some cases resists the pressure from Berlin, directed attention to the fact.

Aug 20 15:18

Antiques in spaaaaace! Retired space shuttles cannibalised for parts

NASA’s budget woes have forced it to consider sending museum pieces into space.

With funding cuts looming, NASA engineers are saving cash by cannibalising parts from retired shuttles in museum displays to use on the International Space Station (ISS).

Aug 20 14:43

Another US Retailer To Close 90 Stores

Aug 20 14:09

Currency Wars, Trade Wars… World Wars

History is repeating itself. While the times are different and the names have changed, the underlying circumstances and basic fundamentals remain the same. The Crash of ’29, The Great Depression, plunging commodity prices, currency wars, trade wars, world war. Now, four score and six years later: The Panic of ’08, The Great Recession, plunging commodity prices, currency wars. Are trade wars and world war next?

Aug 20 13:45

It Starts: Broad Retaliation Against China in Currency War

Hot money is already fleeing emerging markets. Higher rates in the US will drain more capital out of countries that need it the most. It will pressure emerging market currencies and further increase the likelihood of a debt crisis in countries whose governments, banks, and corporations borrow in a currency other than their own.

This scenario would be bad enough for the emerging economies. But now China has devalued the yuan to stimulate its exports and thus its economy at the expense of others. And one thing has become clear on Wednesday: these struggling economies that compete with China are going to protect their exports against Chinese encroachment.

Hence a currency war.

Aug 20 12:51

The Federal Reserve is Not Your Friend

Imagine that the Food and Drug Administration (FDA) was a corporation, with its shares owned by the nation's major pharmaceutical companies. How would you feel about the regulation of medications? Whose interests would this corporation be serving? Or suppose that major oil companies appointed a small committee to periodically announce the price of a barrel of crude in the United States. How would that impact you at the gasoline pump?

Such hypotheticals would strike the majority of Americans as completely absurd, but it's exactly how our banking system operates.

Aug 20 12:43

Oil Prices Must Rebound. Here’s Why

n the short term, the oil market is in the doldrums and projects are being delayed or cancelled, left right and center. Production in North America will stop growing and in the rest of the world it will actually decline.

Aug 20 12:41

Kazakhstan Follows Russia in Floating the Currency

Russia Insider’s Alexander Mercouris has argued the single most important factor that has allowed Russia to weather lower oil prices so well has been its decision to float the ruble.
Kazakhstan chose a different strategy and continued to maintain a partial peg to the dollar - and as a result has found itself in considerable difficulty.
Now, however, Astana has declared it will move toward a freely-floating currency as Russia did last year.

Aug 20 11:49

REITs on the Rebound! Forget Stocks and Bonds

Aug 20 11:34

"This Country Is Destroyed": 26 countries, 35 days in Europe During the Economic Collapse of 2015

Many discerning people are expecting an economic collapse at any moment, yet it's still possible to travel without spending a lot of money. My wife and I took off July 10th & went to Europe for 35 days. We hit 26 countries, at a pretty fast pace. I'm a notorious cheapskate, & the main point I would like people to know is that travelling to Europe is not as nearly expensive as most people are led to believe. We bought the EuroRail pass & travelled throughout Europe by train. From Copenhagen to Istanbul, Norway to Bosnia, this was quite a trip. We met all sorts of interesting people including several in Athens, Greece, who told me "this country is destroyed."

Aug 20 11:26

Georgos Galeos: Tsipras Surrendered the Greek Flag to the Germans

Aug 20 10:58

Another US Retailer To Close 90 Stores

Aug 20 10:26

Exarchia, The Town In Athens Greece That Is Keeping The Government Out And Starting Anew

As the economic and political systems continue to crumble and collapse in Greece, a district in Athens is growing in strength and independence after large numbers of individuals began to keep the government out and empower their own community.

Aug 20 10:25

FLASHBACK - The Boot That Stamps On Your Face

The way to see that picture of one central controlling financial octopus slithering down through history with backroom bribes and secret assassinations is to take the core syllabus of Eustace Mullins and Archibald Maule Ramsay, edit it, and lay it out like an outline.

1645: Portuguese Jewish bankers in Holland Solomon de Medina and Fernando Carvajal secretly fund Oliver Cromwell to readmit the Jews to England, where they had been banished for loansharking for almost 400 years. This drama leads to the killing of the king, the debauching of Ireland, and the capture of the British treasury by the Jews, which is why the [Rothschild] City of London is the power center of the world today.

Aug 20 09:56

INSANE Bloomberg Breaks Embargo

Aug 20 09:52

Greek debt crisis: Alexis Tsipras 'to resign' and call snap election for September

Greek leader Alexis Tsipras will make an announcement on 20 August where he will call snap elections towards the end of September and unconfirmed reports say he will resign to re-establish confidence in his Syriza party.

Aug 20 09:50

NJ Lost 13,600 Jobs In July

Aug 20 09:49

American Apparel warns it may go out of business

American Apparel has "substantial doubt" it will stay in business, the company said Monday.

The clothing brand has been struggling for some time, and news it's nearing collapse came as American Apparel (APP) reported a net loss of $19.4 million for last quarter.

Aug 20 08:45

Big Bloomberg Layoffs, Says New York Post

Aug 20 06:24

Greek PM Tsipras to call snap election - State TV

Aug 20 04:05

26 countries, 35 days in Europe: How my wife & I took this interesting train trip, on the cheap

Many discerning people are waiting for an economic collapse at any moment, yet it's still possible to travel without wasting a lot of money. My wife and I took off July 10th & went to Europe for 35 days. We hit 26 countries, at a pretty fast pace, and spent very little money. My wife's passion is travelling, and we aren't the materialistic types. We're both frugal. & I am a notorious cheapskate. The main point I would like people to know is that travelling to Europe is not as nearly expensive as most people are led to believe. We bought the EuroRail pass & traveled throughout Europe by train. We met all sorts of interesting people and navigated train travel, lodging, staying safe, and having an enriching fun experience.

Aug 19 23:15

Greece is for Sale – and Everything Must Go

Piraeus and Thessaloniki ports are up for sale – the former case has caused the chief executive to resign and industrial action has begun. A gas transmission system looks likely to be sold to the government of Azerbaijan, but there’s still a power and electricity company, the postal service, a transport utility which allows trains and buses to run, the country’s main telecommunications company, a 648 km motorway, and a significant holding in the leading oil refiner, which covers approximately two-thirds of the country’s refining capacity.

Holdings in Thessaloniki and Athens water are both on sale – though public protest has ensured that 50% plus 1 share remains in state hands. Nonetheless, the sale will mean that market logic will dictate the future of these water and sewerage monopolies. Finally there are pockets of land, including tourist and sports developments, throughout Greece.

Aug 19 21:52

Germany and France: Leading Actors in Greek Drama

The debates about the future of Greece are acquiring a political-geographical dimension. The interests and opinions are divided between two leading European power centers – the northern one led by Germany and the Mediterranean headed by France. The arguments and conclusions are opposing. The widening gap directly threatens the ability of the European Union to act as one economic and political entity.

Aug 19 21:44

Flamethrowers, given up by military, are now being sold to the public

By Aaron Smith

NEW YORK (CNNMoney) -- Flamethrowers were gruesome weapons of war and so controversial that the U.S. military stopped using them after Vietnam.

But as crazy as it may sound, they are available for sale to the public.

Aug 19 19:17

Trumping the Federal Debt Without Playing the Default Card

The US is bankrupt either way. The question is who will get stiffed? I think it should be the banksters who loaned the odious debt that financed wars of aggression around the world.

Aug 19 18:04

How to Survive When You Can’t Pay Your Bills

Aug 19 16:47

Why Are So Many People Freaking Out About A Stock Market Crash In The Fall Of 2015?

In fact, I don’t think that I have ever seen more experts come out with bold predictions that a stock market crash will happen within a very specific period of time.

Aug 19 14:09

Marc Faber: I See Recession Coming (VIDEO)

In an interview on FOX Business Network’s Risk & Reward, “Gloom, Boom & Doom Report” publisher Marc Faber says he still thinks a recession is on its way.

Aug 19 13:57

Economic Crisis Goes Mainstream – What Happens Next?

Last year, when alternative economic analysts were warning that the commodities crush and oil crash just after the taper of QE3 were blaring signals for a downshift in all other financial indicators, the general response in the mainstream was that we were overreacting and paranoid and that the commodities jolt was temporary. Perhaps the fact needs repeating that it’s not paranoia if they are really out to get you.

Aug 19 13:51

Fed Official Admits Zero Interest Rate Undermined Economy: “QE Has Been Ineffective”

Today, with the United States and the globe approaching another financial cliff, officials from the Federal Reserve are beginning to acknowledge the colossal failure of their quantitative easing program that was instituted in the wake of the 2008 economic collapse.

In a white paper dissecting the U.S. central bank’s actions to stem the financial crisis in 2008 and 2009, Stephen D. Williamson, vice president of the St. Louis Fed, finds fault with three key policy tenets.

Read more at SHTFplan.com

Aug 19 13:50

LEAKED: GM Sees Overcapacity Fiasco in China, Hopes Americans Will Buy Lots of Chinese-Made Buicks

The start of a tsunami. US “Manufacturing Renaissance” takes another hit.

Aug 19 13:04

German parliament approves third Greek bailout in landslide vote

Germany’s parliament overwhelmingly approved a third bailout for Greece on Wednesday, removing a key hurdle to providing new loans to the country and keeping it from defaulting on its debts in as little as 24 hours.

Aug 19 12:34

One Word Defines This Era: Stagnation

Aug 19 12:13

U.S. CRUDE HITS 6.5 YEAR LOW ON SURPRISE STOCK BUILD

The figures stunned energy market analysts on Wall Street, as well as traders and investors who had been expecting a stockpile drawdown despite the peak U.S. summer driving season nearing its end and refinery problems cutting fuel processing capabilities.

Aug 19 11:48

6500 Layoffs Hit Shell As Oil Prices Dive

Aug 19 11:47

West Coast Grocer To Close 27 Stores

Aug 19 11:42

BOYCOTT OREO'S!! NOW MADE IN MEXICO!

Donald Trump has pledged never to let another Oreo pass his lips.

“I’m not eating any more Oreos,” he promised on Monday afternoon.

He made the declaration while speaking with reporters in the back of the jury assembly room at Manhattan Supreme Court. He was waiting to learn if he would be picked to serve on a panel, and he passed the time chatting about a wide range of subjects. That included the recent decision by Mondelez International, the parent of Nabisco, to move some of its Chicago operations to Mexico.

“It’s such an American company,” he said.

Aug 19 11:21

World Shipping Slump Deepens As China Retreats

Aug 19 11:13

Ukraine to resell Russian electricity to Poland at double price

In the framework of aid to Poland, the power engineering sector of which has been hit by an anomalous heatwave, Ukraine will sell electricity to that country at 7.5 eurocents per 1 kwh, the National Commission for Energy and Utilities said on Wednesday.

Aug 19 10:44

Phoney Opposition: The Truth About the BRICS

Who is contending that the AIIB or the BRICS’ New Development Bank is in any way competitive with the Bretton Woods institutions (IMF/World Bank)? Certainly not anyone involved with any of these institutions.

So, if the AIIB or the BRICS’ New Development Bank is just controlled opposition, the same debt peonage, a fake, what does that say about the confrontation between the US, NATO and Russia? Is this being faked as well?

Aug 19 10:38

Technically Speaking: The Bull/Bear Conundrum

Aug 19 10:29

Distressed American Workers Expose The Fallacy Of Improving Unemployment Numbers

most of the 'wage gains' have been higher Obamacare premiums and not spendable money

most of the job growth has been low-pay and part-time jobs

Aug 19 10:19

The End of the U.S. Dollar

Aug 19 10:00

Donald Trump’s Immigration Plan: An Honest Conversation

importing pro-government warfare/welfare enthusiasts

Aug 19 10:00

Greenspan Warns About Bond-Market Bubble

Aug 19 07:51

FLASHBACK - BILL CLINTON LOOTED SOCIAL SECURITY TO CREATE HIS FEDERAL BUDGET SURPLUS

HOLLINGS: Well, the truth is...ah, shoot, well, we all know there's Washington's math problem. Alan Sloan in this past week's Newsweek says he spends 150%. What we've been doing, Mr. Chairman, in all reality, is taken a hundred billion out of the Social Security Trust Fund, transferring it over to the spending column, and spending it. Our friends to the left here are getting their tax cuts, we getting our spending increases, and hollering surplus, surplus, and balanced budget, and balanced budget plans when we continue to spend a hundred billion more than we take in.

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