Mar 28 08:01

Lawmakers rush to pass bill to aid Ukraine

The Internet Post
"Gotta fund those Blackwater mercenaries, somehow. Too bad the US highway system isn’t in Kiev. Then, maybe, we could get a pothole fixed. The Koch suckers in Congress *always* vote to spend US tax dollars in any country run by an unelected dictator. That’s why deficits soared under Bush, btw".

Lawmakers are rushing to get a bill to the president’s desk that would provide $1 billion in loan guarantees to Ukraine and sanction those who had a hand in Russia’s takeover reunification of Crimea. The House and Senate were poised to pass versions of the legislation Thursday. Both sides said they want to get one bill to President Barack Obama’s desk before the end of the week, but it was unclear whether the work would be finished by then.

Mar 28 07:59

Thrup’ney bits, Tits – New Pound Coin is Elite Schoolboy Joke for Unwashed Masses

It is said that the issuing of this new coin will embrace the nostalgia of a golden era when Britain was emerging from the economic vacuum of the second world war – but I suspect that this new coin has an entirely different meaning all together – Osborne is telling us that new pound will have the equivalent value of the old 3 pence and we had all better smile and be thankful for our new, worthless, shiny currency and join the breadline and shut-up like obedient poor-folk always have.

Mar 28 07:55

IMF Exposed in Ukraine

The Ukraine debacle has exposed certain truths to the world about the way the West operates and how the power elite destabilizes countries politically in order to gain further control over them. IMF officials are doing themselves no favors by participating, but doubtless have little choice.

This IMF tranche is not a helpful gesture toward Ukraine so much as part of a calculated and continued campaign of destabilization and occupation. It is the Internet Era itself that is exposing these manipulations and making them considerably less effective in the 21st century than in the 20th.

Mar 28 03:30

How the vampire squid is controlling our lives: They helped cause the crash. Then profited from it.

Amid the recent management shake-up at the top of the Bank of England, as it was dragged into the investigation of the alleged fixing of the £3?trillion-a-day foreign-exchange markets, one crucial appointment went almost unnoticed.

Mar 27 18:02

IMF “Shock Treatment” for Ukraine: Collapse of the Standard of Living

On March 27, Ukraine’s interim coalition government announced concrete policy measures as part of its agreement with the IMF: a 50 percent increase of the retail price of gas coupled with the deregulation of the foreign exchange market.

In surrendering to the IMF, Yatsenyuk was fully aware that the proposed reforms would brutally impoverish millions of people, including those who protested in Maidan.

Mar 27 17:25

Meet 5 People Who Made A Decision To Shine A Light In The Darkness

Are you ready for some inspirational stories that will make your heart jump for joy? These days, it is so easy to get down. Both individually and as a nation, we have so many problems and it often seems likethings just keep getting worse. For example, this week we learned that pending home sales in the United States just droppedby the most in 3 years and that they have now been declining for 8 months in a row. And without a doubt, incredibly challenging times are on the horizon. In response, a lot of people are going to choose to complain bitterly and curse the darkness. Others are going to respond with fear and will try to hide from the world as much as they can. But I don't think that either of those approaches is a good way to react to the problems that we will be facing. Rather, I believe that the right choice is to be a light in the darkness and to try to make a difference. As you will see below, there are many ways that this can be done.

Mar 27 16:24

We Don't Run This Country for Corporations

Hobby Lobby doesn't want to cover its employees' birth control on company insurance plans. In fact, they're so outraged about women having access to birth control that they've taken the issue all the way to the Supreme Court.

Mar 27 15:03

Gold Headed Higher On US Concerns

Mar 27 14:33

Here Comes Ukrainian Hemp

So the United States wants to buy hemp from the Ukraine. I suppose we should be happy. Anytime the U.S. government gives a country money that is not earmarked for weapons, we probably shouldn’t too closely examine the unelected neo-liberals and neo-Nazis handling the cash. Nobody pays attention to the Saudi government or the oil, wars, and terrorism it provides in exchange for U.S. largesse.

Mar 27 13:36

Hemp aid: US considers buying industrial cannabis from Ukraine to bolster its economy

BULLSHIT! Americans can do this and better!

US Department of Agriculture is looking to boost imports of hemp seeds from Ukraine, hoping this will help the country’s battered economy. However, they still do not know what it will be used for.

“We are now involved in trying to figure out ways in which we might be able to use the industrial hemp seeds that are created in Ukraine in the US,” Agriculture Secretary Tom Vilsack told Bloomberg in an interview Tuesday.

Mar 27 13:22

US towns make more than 50% of income through speeding fines

According to, Lousiana is the top state for doling out speeding tickets. 15 towns make over 50% of their income through collecting on speeding fines, and some Louisiana legislators are now calling for something to be done about this shameful fact.

Mar 27 11:40

Will Israel kill US empire this week?

The US empire, which might be more accurately termed the New World Order bankster empire, seems to be lashing out blindly as it enters its death spasms.

Mar 27 11:33

How “Extreme Levels” of Roundup in Food Became the Industry Norm

Food and feed quality are crucial to human and animal health. Quality can be defined as sufficiency of appropriate minerals, vitamins and fats, etc. but it also includes the absence of toxins, whether man-made or from other sources. Surprisingly, almost no data exist in the scientific literature on herbicide residues in herbicide tolerant genetically modified (GM) plants, even after nearly 20 years on the market.

Mar 27 11:19

David Swanson’s Call to Action on April 4

David Swanson writes:

When public pressure stopped missiles into Syria in September, the educational work of years and years was paying off. When public pressure helped stop new sanctions and war momentum against Iran in February, a new pattern was developing. When Obama began this week at least pretending to turn against the NSA he’d been defending for months, a crack opened up in a wall of unaccountable abuses. Opportunities are opening up all around us. Students are taking on Israeli crimes.

Read more:

Mar 27 10:30

Bank of England Lights A Fuse Under the Field of Economics

There will be many people who don’t care, there will be many more who don’t understand, and there will be boatloads who refuse to believe it’s true, but it still is. The Bank of England, in one single document, discredited, just at first count, 1) the majority of economics textbooks, 2) vast swaths of the entire field of economics, run as it is by economists educated by those same textbooks, 3) most governments’ economic policies, designed by these economists, 4) much of its own work, also designed by the same economists, 5) Paul Krugman and 6) the “committee” that hands Krugman and his ilk their Not-So-Nobel Prizes.

Indeed, the message the Bank’s people send is so devastating to economics as it is taught today that their document will most likely simply be ignored, even though that probably shouldn’t really be possible with an official central bank report.

Mar 27 10:29

National Police Shooting Championships: September 14-18, 2014

Guess where! You got it! Albuquerque! Major braindisorder NRA!

The 2014 National Police Shooting Championships will be held at the NPSC Police Pistol Combat ranges at Shooting Range Park in Albuquerque, New Mexico. You do not have to have to have a PPC Classification to register and there are no qualifying requirements.

Mar 27 10:04

Ukraine Crisis Highlights Ugly Global Energy Truths

Ukraine, a semi-failed state due to energy debt and corruption, merely illustrates the new energy politics now unsettling governments from the United States to Crimea. It represents our collective global future, should governments and citizens continue to ignore energy flows and budgets.

The story should be familiar to most North Americans. In U.S. political lingo, Ukraine is a blue state dependent on energy imports from Russia, the powerful red state next door. They share a tense master-slave relationship.

The West, including the fantastically indebted G7 club, thinks it has some moral authority in this dispute, but has its own shackles to worry about. It doesn't export much energy these days, and it is singing the economic stagnation blues because cheap energy is disappearing.

Mar 27 10:04

Billionaires Are Warping Our Political System

Charles and David Koch should not be blamed for having more wealth than the bottom 40 percent of Americans put together. Nor should they be condemned for their petrochemical empire. As far as I know, they’ve played by the rules and obeyed the laws.

They’re also entitled to their own right-wing political views. It’s a free country.

Mar 27 09:56


Benihana restaurant founder Rocky Aoki was indicted by a federal grand jury yesterday on charges he cooked up an insider trading scheme that netted him $590,000. Aoki, 59, resigned last month as chairman and chief executive of Benihana, a 61-restaurant Japanese steakhouse chain based in Miami after being informed he was the subject of a federal securities investigation.

Webmaster's Commentary: 

Last night I finally got to see "Wolf of Wall Street" on cable. I appreciated all the naked ladies, but felt the three hour movie could have easily been trimmed to two hours and it would have been a better film, but Martin Scorsese has reached the age where he is very much in love with his own work, often to its detriment. I had the same complaint about "Hugo" and "Shutter Island. "Leonardo DeCaprio was amazing in the title role.

That being said, during one of the overly-long expositions, mention was made of how the founder of the Benihana Restaurants had been charged with major financial crimes, and I wondered how the film could have made a statement like that without Benihana suing them. So I did a web search and found a few articles verifying that yes indeed the founder of Benihana had done some very nasty things, which went mostly unreported by the corporate TV news!

Mar 27 09:25

Albuquerque officer misconduct cases could cost over $12 million

ALBUQUERQUE, N.M. (AP) — The potential taxpayer tab for misconduct cases involving Albuquerque police officers in 2013 is above $12 million.

That figure includes a $10.3 million jury award last month in a lawsuit filed by the family of Iraq War veteran Kenneth Ellis III.

Mar 27 09:22

Drug money saved banks in global crisis, claims UN advisor

Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer.

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.

Mar 27 09:12

Citigroup ‘Not Sufficiently Prepared to Handle a Potential Financial Crisis’

The Federal Reserve on Wednesday rejected Citigroup Inc’s plans to buy back $6.4 billion of shares and boost dividends, saying the bank is not sufficiently prepared to handle a potential financial crisis.

Mar 27 08:50

Video: Flashback - Glenn Beck Exposes the Private Fed; Gets Fired by Fox

Uploaded on Apr 8, 2011
I never liked Glenn Beck much, but it is quite a coincidence that he comes out with the real truth about the private Federal Reserve, and then loses his show on Fox News. Like Ron Paul always says, the Fed is the true facilitator of big government. They could never tax enough, or borrow enough to pay for the wars and corporate welfare without the printing press and world reserve currency status. Do your own research; read G. Edward Griffin's classic "The Creature from Jekyll Island." The creation of the Fed WAS A CONSPIRACY. No theorizing needed. Our forefathers fought since the founding to deny the bankers a monopoly over the control of currency and credit. We have fallen under the control of the banking establishment, and they have tied their fraudulent debt to the fiscal wellbeing of America.

Mar 27 08:35

How My Generation is Getting Screwed Once Again

David Seaman
Activist Post

If you’re an American around my age (I’m 28), a couple of things are becoming clear.

We’re one of the first generations since the Great Depression that is expected to live a lower quality of life than our parents. Significantly lower.

We all got suckered into paying $160,000 we didn’t have for a piece of paper that entitles us to apply for a bunch of entry level jobs that don’t even want us on account of our lack of experience.

Entry level receptionist or social media position. 3-5 years experience required.

The US job market is crazier than one of Jigsaw’s rusty machinations...

Mar 27 08:34

The Risk Of Stock-Market Vertigo

Mar 27 08:32

Billionaire will meet and greet you for $1000

This is precisely what makes liberals, especially wealthy liberals, so loathsome. A billionaire does not need any more money. A billionaire can afford to offer you advice for free. What Winfrey is doing is so typical of hypocritical liberals. This is all about helping you- for a chunk of change. Where’s the “spreading it around” that liberals and her buddy Obama are always blathering about? The bottom line is always the same. It’s about spreading YOUR money around and not theirs.

If you have $1000 to squander on meeting Oprah, then you already have the life you want.

Mar 27 08:30

The Economic Scam of the Century

The leaders of the U.S. Senate Banking Committee, Sen. Tim Johnson (D., S.D.) and Sen. Mike Crapo (R., Idaho), released a draft bill on Sunday that would provide explicit government guarantees on mortgage-backed securities (MBS) generated by privately-owned banks and financial institutions. The gigantic giveaway to Wall Street would put US taxpayers on the hook for 90 percent of the losses on toxic MBS the likes of which crashed the financial system in 2008 plunging the economy into the deepest slump since the Great Depression. Proponents of the bill say that new rules by the Consumer Financial Protection Bureau (CFPB) –which set standards for a “qualified mortgage” (QM)– assure that borrowers will be able to repay their loans thus reducing the chances of a similar meltdown in the future.

Mar 27 08:28

Citigroup Fails Fed Stress Test as BofA Gets Dividend Boost

Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress tests, while Bank of America Corp. won approval for its first dividend increase since the financial crisis.

Mar 27 08:23

Home Sales Plunge Most In 3 Years, Drop 8th Months In A Row

Must be the weather... (though if you want to believe that, do not look at the regional breakdowns)... Pending home sales fell 10.2% YoY - the worst in 3 years (notably worse than the 9% drop expected by the meteorologists in the economics departments of the big banks). This is the 8th month in a row of home sales drops

Mar 27 08:23

The First Duty of American Citizens is to Protect Their Freedom From the Government

“The window for the United States to save the PETRODOLLAR (THERE IS THAT WORD I KEEP HARPING ON IN MY FINANCIAL SERIES) from the scourge of the Iranian sale of oil for gold to the BRIC nations (e.g. Russia, China, India) is rapidly closing. If the Russians are able to invade Ukraine and consolidate their holdings, an invasion of Syria as a precursor to the invasion of Iran, can be seriously challenged by the Russians operating out of Crimea.”

I absolutely CANNOT stress enough how important the financial component is to understanding domestic or global politics right now. If you think it does not concern you, you are sorely mistaken. I include the links again below.

Mar 27 07:54

Another round of food stamp cuts in states

A fresh round of food stamp cuts at the state level are underway, on top of federal food stamp reductions that hit millions of Americans twice since November. In some states, policymakers have imposed additional cuts that jeopardize benefits for hundreds of thousands.

The impact of the reductions is just beginning to take hold, or soon will.

Webmaster's Commentary: 

It has been an axiom of the GOP that if you cut food stamps, unemployment will go down, because as we all know there are just oodles of good paying jobs sitting empty because the US is "incentivizing" people to sit at home. Well, they have been cutting food stamps for months and there are more jobless now than when they started, because the problem isn't the workers, it is the absence of jobs.

Mar 27 07:16

French jobless rate surges to new record

The number of new jobseekers rose by 31,500 last month, it said, admitting there had been a "marked progression" in unemployment.

Mar 27 06:58

Russian industrial zone to be established in Egypt

A Russian industrial zone focused on producing agriculture machinery and equipment will be established in Egypt, an official statement issued by the Egyptian Ministry of Industry and Foreign Trade said Wednesday.

Russia will assist Egypt in the development and modernisation of the Egyptian Iron and Steel Helwan Factory, El Nasr Automotive Manufacturing Company and Egypt’s large aluminium production company, Egyptalum, located in Nag Hammadi. Russia will also aid in the development of the Aswan Dam’s electricity power plants.

Mar 27 06:48

Goldman Sachs' Outrageous Scheme to Profit Off Jailed Young Offenders

Mayor Michael Bloomberg announced that New York City would be the site of a new experiment very dear to his billionaire’s heart. He declared that Wall Street megabank Goldman Sachs would provide a loan of nearly $10 million to pay for a program intended to reduce the rate at which adolescent men incarcerated at Rikers Island reoffend after their release (currently almost half reoffended within a year). The city government was short of money, so Goldman Sachs would step in to do what anemic public investment could not accomplish on its own: keep young men out of jail.

Mar 27 06:47

Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

Mar 27 06:41

France Is Not Sick – Europe Is

France is the sick man of Europe according to this article, because its manufacturing and service sectors are contracting.

But in reality, France is no sicker than any other country in Europe. They all suffer from the same problems: monetary over-stimulation, over-regulation, over-taxation and a cradle-to-grave socialist mentality.

Webmaster's Commentary: 

It is amazing to see how hard financial writers will work to NOT look at the root cause of the economic problems afflicting the west, which is that when you allow a privately-owned central bank to issue all of the nation's currency as a loan at interest, by design this system creates more debt than money with which to pay that debt. Once this pyramid scheme is started, the total debt owed to that central bank will grow faster than the available money supply until the system approaches collapse, at which point the people are enslaved to "austerity", meaning they must work harder and live with less so the bankers can have more, or in the worst case, government's are forced to resort to wars of conquest to try to balance the books.

Until that root cause is recognized and corrected, there is nothing the people or governments can do that will improve the economy, once it is in the control of those private central banks.

The United States fought a revolution to break free of this very system of private central banking, only to be sold back into that form of slavery 100 years ago by a corrupt Congress and a corrupt President.

Mar 26 23:02

Asia will not 'isolate' Russia

Any (bureaucratic) doubts the New Cold War is on have been dispelled by the Group of Seven issuing a pompous, self-described Hague Declaration. Abandon all hope those who expected The Hague to become the seat of a tribunal judging the war crimes of the Cheney regime.

Mar 26 22:20

Watchdog to Check Omsk Cheese Factory Over Naked Milk Vat Romp

Where's the women!

If you plan to buy stringed-cheese the next time you go to the supermarket, you may want to check that it wasn't made in Omsk.

Russia's consumer watchdog said that it will inspect an unidentified dairy factory in the Siberian city after photographs of staff members frolicking in a vat of milk used for making cheese appeared Tuesday on a popular social network site, information portal reported Wednesday.

Mar 26 20:59

Citi Fails Fed Stress Test … The REAL Story

Mar 26 19:17

Another Financial Crisis Is Looming - Here's Why

Bloomberg financial reporter Bob Ivry has written an entertaining new book, “The Seven Sins of Wall Street,” which, instead of rehashing the various illegal activities that triggered the financial meltdown, focuses on what the banks have been up to since the crisis. Much of it would be familiar to readers of this space: the Bank of America whistle-blowers who were instructed to lie to homeowners, and received gift card bonuses for pushing them into foreclosure; the London Whale derivatives trade that lost JPMorgan Chase more than $6 billion; the investment banks who traded commodities while also operating physical commodity warehouses and facilities; and more. All the while, megabanks continue to enjoy subsidies on their borrowing costs because of the (accurate) perception that they will get bailed out in the event of any trouble.

Mar 26 17:14

Russian Ruble Goes Into Circulation

Russian Ruble Goes Into Official Circulation In Crmea As Of Monday

Mar 26 17:10

How To Cripple the European Economy

The EU sanctions against Russia would cripple the European economy instead, Euro MP Pino Arlacchi. “The position of the European Union should be different from the US position. Europe should not insist on the extension of sanctions. These sanctions are unwise. In fact, they are directed against us,” he said.

Mar 26 15:24

Swiss decide against Russian sanctions

"The position of our country is independent of the UN," Swiss president Didier Burkhalter told a press conference in Bern, saying Switzerland can only use sanctions when they are based upon "international law and the interests of the Swiss".

Mar 26 15:06

Ukraine to hike domestic gas prices by 50 percent to meet IMF demands

Wow... This is going to be a great way to get people excited about their debt serfdom

Mar 26 14:58

Here Comes Bitcoin Derivatives

Mar 26 14:53

German chancellor Merkel against imposition of economic sanctions on Russia

German Chancellor Angela Merkel has said the crisis around Ukraine should be resolved by political means without imposing economic sanctions on Russia.

Mar 26 14:14

The Anatomy Of Panic: How A Rumor Mutated Into A Three-Day Chinese Bank Run

Yesterday we showed the end result of what happens in a China, in which bankruptcy and default are suddenly all too real outcomes for the country's hundreds of millions of depositors, when the risk of losing all of one's money held in an insolvent bank becomes a tangible possibility in "What A Bank Run In China Looks Like: Hundreds Rush To Banks Following Solvency Rumors." Today, we look in detail at all the discrete elements that culminated with hundreds of Chinese residents lining up in front of a bank in Yancheng and rushing to withdraw their money only to find their money not available (at least until the regional government was forced to step in with a bailout to avoid an even greater panic).Why is this a useful exercise? Because since we will certainly see many more example of it in the near future, it pays to be prepared. Or least it certainly prevents one from losing all of their money...

Mar 26 14:06

America's infrastructure nightmare

Mar 26 13:45

The US Is Now Spending 26% Of Available Tax Revenue To Pay Interest

By the 19th century, the Ottoman Empire had become a has-been power whose glory days as the world’s superpower were well behind them. They had been supplanted the French, the British, and the Russian empires in all matters of economic, military, and diplomatic strength. Much of this was due to the Ottoman Empire’s massive debt burden.

Mar 26 13:18

Erdogan’s bluff and poker games

One week before the local elections in Turkey, March 30th, a Turkish F16 shot down a Syrian Mig 23 accusing the Syrian side of penetrating Turkish airspace while the Syrian jet came down in Syrian territory and, luckily, the surviving pilot clearly stated that he was shot down on the Syrian side of the border.
Even when hypothetically the Syrian jet crossed for seconds Turkish airspace the Turkish jets could easily escort him out as from a military point of view there is and was not a single reason to shoot the jet down.
So if there is no military reason, the hostile act of bringing a Syrian jet down must be looked at from a political angle.

Mar 26 12:48

Ukraine agrees to 50% gas price hike amid IMF talks

Ukraine's interim government says it will raise gas prices for domestic consumers by 50% in an effort to secure an International Monetary Fund (IMF) aid package.
An official at Ukraine's Naftogaz state energy company said the price rise would come in on 1 May, and further rises would be scheduled until 2018.
Ukrainians are accustomed to buying gas at heavily subsidised rates.
But the IMF has made subsidy reform a condition of its deal.

Mar 26 12:07

IRS Makes Bitcoin Rules Simple for Wall Street, Impossible for Everyday Users

The IRS just issued tax guidance for bitcoin and other virtual currencies. They classify bitcoins as property, instead of a currency, where tax rules of stocks and barter will apply. It seems, as always, that Wall Street wins and people lose.

It essentially means Wall Street has a new asset class to exploit at low capital gains rates, and retail businesses get the benefit of low transaction fees of the Bitcoin payment system without extra accounting; but everyday people who use it as a currency must report every single transaction for tax collection.

Mar 26 12:04

Russia to create national payment system to rival Visa, Mastercard

Russia is considering launching its own payment system in response Visa and Mastercard's recent blocking of the bank card operations of several US-sanctioned Russian banks. Russian officials are debating whether to base it on Sberbank’s PRO100 or to cooperate with the Chinese UniPAY.

Mar 26 12:02

Software problems will set back F-35 joint strike fighter another year – report

Delivery of the F-35 Joint Strike Fighter will be more than a year behind schedule due to ongoing software problems, according to a US government report. The delay marks the latest snag in the ongoing saga of the world’s most expensive aircraft.

According to a new Government Accountability Office report, the F-35’s mission management system software needs a vast debugging effort to meet the plane’s various requirements.

“Challenges in development and testing of mission systems software continued through 2013, due largely to delays in software delivery, limited capability in the software when delivered, and the need to fix problems and retest multiple software versions,” the GAO auditors wrote.

Mar 26 12:01

Doin the Math…

According to General Motors, the Volt battery holds 16 kwh of electricity. It takes a full 10 hours to charge a drained battery. The cost for the electricity to charge the Volt is never mentioned so I looked up what I pay for electricity. I pay approximately (it varies with amount used and the seasons) $1.16 per kwh.

16 kwh x $1.16 per kwh = $18.56 to charge the battery. $18.56 per charge divided by 25 miles = $0.74 per mile to operate the Volt using the battery. Compare this to a similar size car with a gasoline engine that gets only 32 mpg. $3.19 per gallon divided by 32 mpg = $0.10 per mile. The gasoline powered car costs about $15,000 while the Volt costs $46,000.

So the Government wants us to pay 3 times as much, for a car that costs more than 7 times as much to run, and takes 3 times longer to drive across the country…..

Mar 26 12:00

Sinkhole growing near Mexican Village restaurant in Detroit

A sinkhole appeared three weeks ago along Bagley in the alley next to the popular Mexican Village restaurant, and it's doing nothing but getting bigger.

The hole is more than a foot wide and about 15 feet deep and so far, nothing has been done to repair it.

Severo Gonzalez, who owns the Mexican Village restaurant, has been getting nothing but the run-around from various city departments.

Mar 26 11:54

'Just the cost of doing business': Banks suffer growing backlash in the US as legal fines for misconduct rocket to $100bn

The big US banks and their foreign rivals on Wall Street are suffering a growing backlash, with legal settlements paid to US regulators for misconduct rocketing in recent years.

New figures show the total paid out in legal costs by the US banking sector since the onset of the financial crisis now amounts $100billion (£60.5billion) - and more than half of those financial penalties were levied in the past year.

The patterns suggests the banking industry is prepared to buy its way out of the sort of conduct that was supposed to have been set aside since the collapse of Lehman Brothers in 2008.

Mar 26 11:39

John Quiggin on zombie economics

Mar 26 11:17

Monks recant: Bundesbank opens the door to QE blitz

The last bastion is tumbling. Even the venerable Bundesbank is edging crablike towards quantitative easing.

Mar 26 11:16

Malaysia Airlines may need government rescue

Even before Flight 370 disappeared, Malaysia Airlines was neck-deep in financial trouble.

But the loss of the flight and subsequent focus on the company's management has further damaged the troubled carrier.

Mar 26 10:53

Billionaire’s son avoids punishment for cocaine found in his Mercedes when he was stopped by police for jumping traffic lights

A banker's son who was found to have cocaine in his car when he was stopped for jumping traffic lights was let off by magistrates without penalty for the drugs.

Webmaster's Commentary: 

So, what else is new?

Mar 26 10:32

NASA Models Predict Total Societal Collapse: “Irreversible”

The end of the world as we know it is coming.

You’ve likely heard this before, especially from the growing number of voices in the alternative news and preparedness communities. Often dismissed as conspiracy theory or outright lunacy, there is a growing body of evidence that suggests these fringe thinkers may well be on to something.

Despite assurances from most political leaders, experts and researchers who argue that we live in a stable and sustainable world, a new study utilizing mathematical models developed by NASA’s Goddard Space Flight Center may confirm our worst fears.

According to the Socio Economic Synthesis Center, which led the study’s research team and was made up of well respected natural and social scientists from various U.S.-based universities, society as it exists today is decades, perhaps just years, from a complete collapse of our way of life.

Mar 26 09:59

Lithuania pleads for US gas exports to counter Russia

Lithuania's energy minister has called on the US Senate to speed up the export of natural gas to Europe.

Mar 26 09:58

Bank of England agrees Chinese London currency clearing hub

The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing.

The memorandum of understanding, to be signed on Monday, sets out settlement and clearing arrangements for the renminbi, or yuan, in London.

The signing is expected to be followed by the appointment of a London clearing bank for yuan.

Webmaster's Commentary: 

"You can't DO that!!!" -- Official White Horse Souse

Mar 26 09:57

Fed Gov sells GM stock at 10.8 billion loss just before the recalls

The fed Gov sold the last of its holdings in GM in Dec 2013 and the recalls any lawsuits started in Feb 2014...insider trading at its best ..yes I hate GM and their defective cars and their "we dont give a shit" attitude

Mar 26 09:38

Obama says Russia's energy sector could be target of new sanctions

President Obama threatened a new round of sanctions against Russia on Wednesday, this time aimed at the country’s energy sector.

Obama, speaking at a news conference at the Council of the European Union, said the crisis in Ukraine underscored Europe’s need to become less dependent on Russia’s rich energy sources.

Webmaster's Commentary: 

"Really; you should buy all of your oil and gas from the United States! and, and, and, pay for it ONLY in US dollars! That is the way it is supposed to be!" -- Official White Horse Souse

Mar 26 09:15

White House offers extension on completing Obamacare enrollment

The Obama administration plans to allow consumers to complete enrollment for health insurance under Obamacare after next week's deadline as long as they declare that they started the process before the end of the month.

Webmaster's Commentary: 
Mar 26 08:47

Judging Obamacare state by state

Earlier this month the Department of Health and Human Services announced that more than five million people had selected plans on the public insurance exchanges, a sign that the pace of enrollments is quickening as the March 31 deadline for choosing a plan approaches. But a look at the exchanges during the last month of the sign-up period shows that the enrollment picture isn’t equal across the map. “A handful of states have done great,” says Katherine Hempstead, the senior program officer for the coverage team at the Robert Wood Johnson Foundation, a philanthropy dedicated to health care. “But there are some states that are really not getting much traction at all.”

Mar 26 08:46

Remember the missing Obamacare "back-end?" Yeah, HHS still hasn't built that

The website works. Sometimes. And the deadline for signing up is rapidly approaching. Again. But there's one big piece of Obamacare that's still missing.

Webmaster's Commentary: 

Mar 26 08:33

Dolan Co. Files Bankruptcy to Cut Foreclosure Unit Debt

Dolan Co. (DOLN), a provider of legal-support services and publishing, filed for bankruptcy after agreeing to be taken over by lenders to cut debt linked to its former mortgage foreclosure-processing business.

The Minneapolis-based company listed debt of $185.9 million and assets of $236.2 million as of Sept. 30 in a Chapter 11 petition filed today in Wilmington, Delaware.

“This reorganization step is necessary to unlock these current businesses from the weight of debt principally associated with its previous mortgage foreclosure processing businesses,” Kevin Nystrom, Dolan’s chief restructuring officer, said in a March 20 statement.

Mar 26 08:13

New Report Reveals How Wall Street Impoverishes Los Angeles

Los Angeles paid at least $204 million in fees to Wall Street in 2013, and probably significantly more, in addition to principle and interest payments, according to the report, "No Small Fees: LA Spends More on Wall Street than Our Streets." The study, issued today by a coalition of 15 community organization and unions, shows that due to revenue losses from the "Great Recession" L.A. "all but stopped repairing sidewalks, clearing alleys and installing speed bumps. It stopped inspecting sewers, resulting in twice the number of sewer overflows." L.A. spends at least $51 million more in Wall Street in fees than it allocates for its entire budget for the Bureau of Street Services.

Mar 26 08:09

Executive Who Committed Suicide Anxious Amid Deutsche Bank Probes - Former Top Banker Was Involved in Investigations, Felt Abandoned by Colleagues

LONDON—A former senior executive at Deutsche Bank AG committed suicide earlier this year after complaining that he was anxious about government investigations into the bank, a London coroner said Tuesday.

Mar 26 08:07

The 67 Richest People Are as Wealthy as the World's Poorest 3.5 Billion

Oxfam International, a poverty fighting organization, made news at the World Economic Forum in Davos earlier this year with its report that the world’s 85 richest people own assets with the same value as those owned by the poorer half of the world’s population, or 3.5 billion people (including children). Both groups have $US 1.7 trillion. That’s $20 billion on average if you are in the first group, and $486 if you are in the second group.

Mar 26 07:00

Warnings from Former Presidents About Who Really Runs the Show

Verified Warnings From Former U.S. Presidents About the “Invisible Government” Running the U.S. With “No Allegiance To the People”

Mar 26 06:26

Born into slavery

The banks have been the modern slave owners and as the saying goes, “He who owns the debt owns the people.” The way the Slavery System was imposed on us meant that even if we did end up paying off our house or our car, we never actually owned it, because our right to any Real Property ownership was given away at the registration of our birth.

Mar 26 06:22

Alleged Problems: Real Solutions

There are more than 300 million people in the USA. 492 of them are billionaires. That represents roughly 16 millionths of 1%. In decimal form that’s .0000016, or as a fraction, 16 over 1 million. This is not the 1% the Occupy Movement imprinted on (some of) the national consciousness. Even an innumerate person can understand that represents a teeny, tiny, microscopic portion of our supposedly democratic, equal opportunity, propaganda spouting world’s most deadly military killing machine in history.

Mar 26 06:18

India ready to pay Iran in euros for oil

India is ready to pay Iran in euros rather than rupees for crude oil imports after an Iranian official recently said Tehran prefers euro payment, Petroleum and Natural Gas Ministry sources in New Delhi say.

The unnamed sources said India will change the current practice of rupee payment as soon as Iran files an official request to that effect, the Telegraph newspaper reported on Monday.

Mar 26 06:15

Fastrack LNG Deliveries to Europe Unlikely

Expedited regulatory approval of proposed US liquefied natural gas export terminals would not lead to their immediate construction nor to near-term deliveries of US gas into Europe, panelists at a Senate hearing have said, reports Platts.?

Mar 26 06:01

How To Use Dried Eggplant (and other things you did not know you wanted to know)

It is time to get gardening! Here are a few tips on how to enjoy your garden all year long.

Mar 25 11:02

Either U.S. Economy Collapses or WWIII | Mike Rivero

Mar 25 10:02

No Law Requires You to Pay Income Tax, Period.

Mar 25 09:01

JPMorgan Loses Potential Successor to Dimon as Cavanagh Quits

JPMorgan Chase & Co.’s Mike Cavanagh, who has served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.

Mar 25 08:28

A Chinese Shadow Bank Bailout May Mean A Crash In U.S. Treasury Bonds

China’s economy in 2014 is remarkably similar to America’s in 2008: Both were fueled by real estate speculation, both speculative bubbles a product of cheap-and-cheerful shadow-bank financing.

And just like the U.S. in 2008, China in 2014 is looking down the barrel of a Minsky Moment: The point at which servicing debt levels becomes unsustainable, and there are no reserve cushions large enough to absorb the losses.

Mar 25 08:27

EU Completes "Single Resolution Mechanism" for Suicidal Bail-out and Bail-in of Bankrupt Banking System

The SRM will have a Euro 55 billion bail-out fund, supposedly to be contributed by the banks over 8 years, but backed by governments in the meantime, to be used together with bail-in to carry out the EU's intention of shutting down a significant number of the 120 largest banks, bail out and/or bail-in the bad debt, and absorb these failed banks into the Too Big To Fail banks. This assumes that the coming bank crisis will be relatively small and one-by-one, rather than the reality of the pending systemic collapse.

Webmaster's Commentary: 

It does not matter how obfuscated they make it; it still comes down to looting the people to prop up that Ponzi scheme private central bank.

Mar 25 08:21

US Prepares To Provide A Billion To Ukraine As Detroit Plans Mass Water Shutoffs Over $260 Million

Either way, one thing is certain: in order to enforce the fading Pax Americana in the Ukraine, and to keep the funding to the otherwise insolvent Ukraine flowing, which as everyone knows will be first and foremost used to pay Russia's Gazprom, the US is about to send lots of money abroad. As in, not in the US.

So when it comes to priorities, whom does Putin have to thank for the billions in Western funds he is about to receive? Maybe he can start in Detroit, where the local utility is planning mass water shutoffs over $260M in delinquent bills.

Mar 25 08:15

Spanish 'Anti-Austerity' Protesters "Sick Of This System They Call Democracy"

"I'm here to fight for my children's future," exclaims one father as Spaniards rallied in Madrid against poverty and EU-imposed austerity. As Reuters reports, the largely peaceful protest later marred by violent clashes in which police fired rubber bullets. The so-called "Dignity Marches" brought hundreds of thousands to the capital with banners making it clear what their feelings about record 26% unemployment were - "Bread, jobs and housing for everyone" and "Corruption and robbery, Spain's trademark." One protester summed up the people's views of the government, "I'm sick of this system they call democracy... I want things to change."

Mar 25 08:08

New Home Sales Drop To Lowest Since October, Median Home Price Below Year Ago Levels

It was only a matter of time before, as we said last month, January's reported surge in New Home Sales soared by 10% to 468K (well above the 400K then expected) would be revised lower. This just happened, when moments ago the Census Bureau lowered the January number from 468K to 455K. But what's worse is that last month's seasonally abnormal print was obviously an aberration due to the law of small numbers (explained here in detail), February's print was even worse, printing at 440K, below the 445K expected, and the lowest monthly print since September. Then again looking at the chart below shows why 20K houses up or down is absolutely meaningless in the grand scheme of things, as New Home Sales is the one category that resolutely refuses to bounce from the Depression lows.

Webmaster's Commentary: 

The alleged "recovery" we are supposed to be having in this country is just smoke and mirrors, for most working Americans; nothing more.

Mar 25 07:51

S&P cuts Brazil credit rating in blow to Rousseff

Standard & Poor's cut Brazil's sovereign debt rating closer to speculative territory on Monday in a blow to President Dilma Rousseff, whose efforts to stir the economy from a years-long slump have eroded the country's finances.

Webmaster's Commentary: 

Given that S&P rated the fraudulent mortgage-backed securities as triple-A back in 2008, why is anyone listening to them pass judgements on other countries?

Mar 25 07:27

Poland Is Quietly Mobilizing Its Army Reservists

It seems the words of Polish Prime Minister Donald Tusk warning that “the world stands on the brink of conflict, the consequences of which are not foreseen... Not everyone in Europe is aware of this situation," are a little more real than some (US equity buyers) might suspect. As The Week's Crispin Black reports, at least 7,000 Polish workers in Europe have received call-up papers as army reservists in the last few weeks. Polish authorities dismiss it as "routine" but the men note this has never happened before.

Webmaster's Commentary: 

IF in fact these reports are true, this is a very alarming development.

Mar 24 16:52


Mar 24 16:10

Michael Rivero: All Wars Are Bankers’ Wars!

As long as Private Central Banks are allowed to exist, inevitably as the night follows day there will be poverty, hopelessness, and millions of deaths in endless World Wars, until the Earth itself is sacrificed in flames.

Webmaster's Commentary: 

The message is getting out!

Mar 24 13:19

Child poverty rate in US is appalling

Nearly 25 percent of children in the US live in poverty. This is in stark contrast to other advanced countries, where the number is about 5 percent. This is tragic.

Other nations believe children are the hope for the future. They believe sensible government programs can have a positive effect on children and on society in general. Most provide early childhood development programs, including education and child care. They provide extended paid family leave. They have single-payer health care systems, which avoid expensive health insurance. They have extended unemployment safety nets. They believe in a sense of national community.

In this country, there is hate and suspicion of government, especially by far right Republicans. They believe food stamps and unemployment benefits will make people lazy. They refuse to consider raising the minimum wage. Many believe people are poor because God is punishing them.

Mar 24 13:18

Russia not clinging to G8 format, no problem if G8 doesn't meet - Lavrov

Russian Foreign Minister Sergei Lavrov said Monday he saw no "great tragedy" if Moscow was expelled from the Group of Eight (G8) club of leading nations for its annexation of Ukraine's Crimea peninsula.

If our Western partners think that this format has outlived itself, then so be it. At the very least, we are not trying to hold on to this format, and we see no great tragedy if it (the G8) does not meet," Lavrov told reporters after holding separate talks with both US Secretary of State John Kerry and Ukraine's interim Foreign Minister Andriy Deshchytsya.

Mar 24 09:42

Are Nation States Beginning to Splinter?

Venice just held a 'non-binding' referendum on whether the city should once again become an independent city-state and secede from Italy. An astonishing 89% voted 'yes' (which makes the outcome of the Crimea referendum no longer look 'strangely one-sided'). This happens just as Scotland's vote whether to remain part of the UK is approaching and Catalonia is preparing to vote whether to remain with Spain.
“Venetians have voted overwhelmingly for their own sovereign state in a ‘referendum’ on independence from Italy.

Inspired by Scotland’s separatist ambitions, 89 per cent of the residents of the lagoon city and its surrounding area, opted to break away from Italy in an unofficial ballot.

Webmaster's Commentary: 

Looks like people are voting to get away from corrupt, bloated governments, and take care of themselves. A very healthy move, in my opinion!

Mar 24 08:46

Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

Webmaster's Commentary: 

So if the CEO asks you up to the roof to admire the view, pretend you sprained your ankle or something.

Mar 24 07:17

5 Dick Moves Your Bank Pulls (You Won't Believe Are Legal)

Some institutions get more hate than they deserve. Most lawyers and police officers are just doing their jobs, and most businesses really are simply trying to make a profit. But banks ... well, banks make it really hard to defend them. They are the middleman in every transaction (you simply can't function in modern society keeping your cash in a coffee can buried in your yard), and goddamn do they exploit their position in the shadiest ways imaginable. Let's take a moment to examine some of the perfectly legal ways these guys screw us on a daily basis:

Mar 24 06:24

A Series of Hurdles, Followed by a Cliff

Of course, most readers will know that the US is the only country in the world that taxes its people based upon citizenship rather than upon residence—that Americans have a tax obligation to their country even if they do not live there.

For years, we have been projecting that, as the US and the EU approach their respective economic Waterloos, they will impose increasing controls on their people—laws that will serve to pen in the sheep as much as possible, so that when the odiferous effluvium really does hit the fan, the average citizen will find that the gate has been shut and his ability to internationalise has become, at best, extremely difficult, and maybe impossible.

Mar 23 11:22

Russia To Abandon PETRO DOLLAR!!!

Jim Willie was right again. The Saudis are shifting their alliances to the East from the US. This certainly spells the death knell of the US dollar and start of the PetroYuan.

Mar 23 10:51


The so-called "clash of civilizations" we read about on the corporate media is really a war between banking systems, with the private central bankers forcing themselves onto the rest of the world, no matter how many millions must die for it. Indeed the constant hatemongering against Muslims lies in a simple fact. Like the ancient Christians (prior to the Knights Templars private banking system) , Muslims forbid usury, or the lending of money at interest. And that is the reason our government and media insist they must be killed or converted. They refuse to submit to currencies issued at interest. They refuse to be debt slaves.

So off to war your children must go, to spill their blood for the money-junkies' gold. We barely survived the last two world wars. In the nuclear/bioweapon age, are the private central bankers willing to risk incinerating the whole planet just to feed their greed?

Apparently so.

This brings us to the current situation in the Ukraine.

Webmaster's Commentary: 

As the newly installed government in Kiev carves up the Ukraine to hand to the western bankers, I figured it was time for a repost.

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Mar 23 10:10

Farming in America: 'There's a growing discontent'

Farmers want government out of agriculture.

Mar 23 09:58

"QE Was A Massive Gift Intended To Boost Wealth", Fed President Admits

With Bernanke gone, the remaining Fed members knowing full well they will be crucified, metaphorically of course (if not literally) when it all inevitably comes crashing down, are finally at liberty with their words... and the truth is bleeding out courtesy of the president of the Dallas Fed, via Bloomberg.

Webmaster's Commentary: 

When Wall Street's mortgage-backed securities fraud collapsed in 2008, the US Government's "solution" was to take trillions away from the American people and pour it all over the Wall Streets crooks who created the mess in the first place. Needless to say, this fits the classic definition of fascism.

Now, imagine if the US Government had instead moved the money the other direction, away from the Wall Street crooks (as punishment for their crimes) and sent it back to the American people, nobody would have missed a mortgager payment; there would not be a real-estate crisis. Everyone would be current on their credit cards, and there would not be a credit crunch. Everyone would have gone to the shopping mall every Christmas and bought lots of goodies, so there would not have been a retail and employment crisis. This policy of "rob the poor to give to the rich" was exactly the wrong thing to do, but DC did it anyway in their obedience to the money-junkies.

Mar 23 09:46

This Chart Is A True Picture Of the Unemployment Crisis In America

The unemployment rate is a complex measure based on surveys and some grotesque definitions, including who gets counted as "unemployed." These definitions eliminate millions of jobless people from the list of the officially “unemployed.” The resulting grotesque data – grotesque in, grotesque out – is then adjusted to paper over nagging real-world issues, such as seasonality. The result is a number that is easy to toss around during speeches but hard to use for gauging what's really going on in the labor market.

The unemployment rate’s inability to accurately portray the labor market has caught so much flak that even the Fed abandoned it as a trigger for unwinding its zero-interest-rate policy. Instead, it will “take into account a wide range of information....”

Mar 23 09:45

EU-Ukraine trade pact paves way for brutal austerity

Amid intensifying US and European Union sanctions and military provocations against Russia, the EU and the Western-backed government in Ukraine yesterday signed a pact that paves the way for brutal austerity measures and free market “reforms.”

The EU-Ukraine Association Agreement is based on the deal that former President Viktor Yanukovych’s Ukrainian government rejected, leading to the US- and EU-instigated protests and violence that ousted him last month.

The pact, signed in Brussels, declares that the Ukrainian government must “embark swiftly on an ambitious program of structural reforms” and submit to “an agreement with the [International Monetary Fund].” The plans being drawn up are based on the “Greek model”—the savage cuts imposed on Greece by the IMF and the EU that have produced a massive growth in unemployment and poverty.

Mar 23 08:45

Obamacare brings big fees for drugs: ‘Where’s the affordable with this one?’

Mason is one of the many Americans with serious illnesses — including cancer, multiple sclerosis and rheumatoid arthritis — who are indeed finding relatively low monthly premiums under President Obama’s law. But some have been shocked at how much their prescriptions are costing as insurers are sorting drug prices into a complex tier system and in some cases charging co-insurance rates as high as 50 percent. That can leave patients on the hook for thousands.

Mar 23 08:40

Ukraine's National Bank may get rid of hryvna to stuff regime coffers

It seems like the National Bank of Ukraine, guided by Arseniy Yatseniuk’s self-styled government to the radiant future, has come to a decision to do away with the country's national currency hryvna.

Webmaster's Commentary: 

... to be replaced by a bank note you will borrow at interest from a privately-owned central bank!

Mar 23 08:11

Clashes as Spanish anti-austerity rally draws to close

The "March for Dignity" rally was held with the slogan "Bread, work and a roof for each and everyone," in opposition to cuts introduced by the ruling center-right People's Party.

"They are causing suffering, poverty, hunger and even deaths, and all so that banks and the economic powers can hold onto their great benefits at the expense of our lives," read one statement from the protesters.

As the speech took place, a group of protesters was reported to have tried to break through police barriers to gain access to the headquarters of the party. Riot police were said to have charged the protesters, who then threw bottles and other objects.

Police said that six officers were injured and 12 people arrested.

Mar 23 08:02

People Would Be Terrified If They Knew What Was Happening

Greyerz: “Eric, looking around the world, the real economy is certainly not improving. In the U.S., the latest retail sales point to a 4% decline, and housing starts are seeing a 34% decline. Existing homes sales are down 18% since 2013 -- that’s the 19th drop in a row.

The U.S. consumer is getting squeezed continuously. Real household incomes are down 10% since 2000, and consumer debt is up 20% since 2010. Also, inflation in food prices is getting out of hand....

“Coffee is up 70%, hogs are up 42%, and beef is up 5% this year alone. So the consumer is really getting squeezed. This so-called recovery in the U.S. does not look healthy to me at all. And in southern Europe the situation is just getting worse. As an example, things are deteriorating in Spain, Italy, and Greece.

Mar 23 07:42

Russian sanctions as war and farce

The oh-so democratic EU has punished the democratic Crimea referendum by sanctioning 33 Russians and Crimeans with asset freezes and travel bans, according to that Magritte-style walking fiction, European Council President Van Rompuy. The EU also canceled the EU-Russia summit in Sochi on June 3. And the vast, Kafkaesque bureaucracy of the European Commission (EC) has taken time out from subsidizing European cows to prepare for "possible economic sanctions", according to German Chancellor Angela Merkel.

The EU is irretrievably split on what to do. Whatever it does, Moscow's capacity to make the EU badly hurt is stronger. There may be another meek set of sanctions next week, as Merkel advertised. But that's it.

Mar 22 09:52

Quantitative Easing has been the fuel for rising inequality and welfare for the modern Gilded Age: President Fisher from the Federal Reserve Bank of Dallas mentions QE’s gift to the rich.

As the Fed begins to slightly ease up on Quantitative Easing the reality of the winners and losers is becoming more apparent. QE was welfare for the wealthy and even President Fisher of the Dallas Federal Reserve Bank hints at QE being a massive gift to boost wealth. Well if we merely look at wealth across America, the only group that saw wealth increase after the recession ended was the top 10 percent. QE was ushered in under the guise of helping the nation overall but what we have seen is massive low-wage work taking over good paying jobs while banking profits hit new record highs.

Mar 22 08:44

Administration Plays to Young in Health Push

From January until the end of March, the Centers for Medicare and Medicaid Services, which runs the site and administers the Affordable Care Act, will have spent $52 million on paid media, officials said.

Webmaster's Commentary: 

Most young people rarely need health insurance. Under Obamacare, the insurance is costly and has deductibles so high that even if you purchase a policy you are not likely to receive any benefit from it at all. No matter how much advertising you do, young people understand it is simply a bad deal for them, especially as they struggle to pay their student loans with minimum-wage jobs.

Mar 22 08:03

Honeymoon With E.U.’s Propaganda In Ukraine Is Over: E.U. To Stun Citizens With 40% Gas Price Hike!

A few hours ago, Interfax reported that Ukraine expects to increase domestic gas prices by 40% once discounted import prices from Russia expire, the country’s Energy Minister Yury Prodan told journalists in the European Parliament on Thursday.

Raising Gas Prices Results In Higher Food Costs, With E.U. Calling The Shots, Expect To Try GMOs In Europe’s Breadbasket As Ukraine Feeds Them All.

Mar 22 07:41

Collapse and Systemic Failure at All Levels Coming to U.S.-Dmitry Orlov

Dmitry Orlov is a Russian blogger who writes about the parallel between the U.S and the USSR. Orlov lived through the financial collapse of the Soviet Union in the early 1990’s, and he thinks the U.S. is on the same trajectory.

Webmaster's Commentary: 

I agree.

Mar 22 07:36

Greek teachers protest job cuts

Greek teachers have held demonstrations against an imminent cut of thousands of jobs in the education sector, Press TV reports.

Mar 22 07:30

Radical U.N. Report Promotes Democratic Control of Food and an End to Corporate Domination

A new report submitted to the United Nations Human Rights Council on the “Right to Food” took aim at the entire basis on which food is produced and distributed on a global scale. Reflecting the type of progressive analysis of our food system from experts like Vandana Shiva and Michael Pollan, report author Olivier De Schutter called for an undermining of large agribusinesses and an infusion of democratic control.

Although the report’s recommendations are revolutionary, news of its release went largely unreported in the major U.S. media.

Mar 22 07:28

As Families Starve, Supermarkets Throw Away Half Of Food Supplies

As an increasing number of UK families are struggling to survive, it has emerged that British supermarkets are throwing away over 10 billion pounds worth of food each year.

Charity Oxfam has warned that 13 million Brits do not have enough to live on.

Speaking to Russia Today, Tristram Stuart, author of ‘Waste: Uncovering the Global Food Scandal’ said:

“At the moment we pay supermarkets and other food businesses to trash the planet, to grow food, and then waste a third of it. We need to make a demand as consumers that they change their behavior as well.

Mar 21 12:32

Forget Russia Dumping U.S. Treasuries … Here’s the REAL Economic Threat

Specifically, Sinclair says that if Russia accepts payment for oil and gas in any currency other than the dollar – whether it’s gold, the Euro, the Ruble, the Rupee, or anything else – then the U.S. petrodollar system will collapse:

Mar 21 12:32

Banksters Admit It’s Money Out of Thin Air

Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created. For this reason, some economists have referred to bank deposits as ‘fountain pen money’, created at the stroke of bankers’ pens when they approve loans.

Mar 21 11:30

Missing Bitcoins Found As Mt. Gox Recovers $120 Million From Old Electronic Wallets

Bankrupt bitcoin exchange Mt. Gox said it found 200,000 bitcoins, which were previously thought stolen, in disused electronic wallets. Another 650,000 bitcoins remain unaccounted for.

The Tokyo-based company said in a statement posted on its website Thursday that the 200,000 bitcoins were identified Mar. 7 after "old format" wallets were searched as part of Mt. Gox's bankruptcy proceedings.

Mar 21 11:06

“All Wars Are Banker Wars” spreading across the net!

Mar 21 10:55

The Emperor’s New Clothes on Steroids

Of course, pretending to be somebody you’re not applies only to managerial positions, because you could never hope to get away with it on a job that demanded demonstrable skills. For instance, you couldn’t pretend to be a bricklayer or shipping checker or seamstress. People would realize you were a fraud within 30 seconds. The same goes for a musician, pottery maker, and electrician.

Alas, it seems that the only jobs where you can trick people into believing that you are who you say you—despite any discernible evidence to prove it—happen to be big-time managerial jobs, jobs that come with generous salaries. How ironic is that?

Mar 21 10:40

Ill. budget cuts could mean 13,400 teacher layoffs

Illinois education officials say districts could be forced to lay off thousands of teachers and borrow money to stay afloat if proposed budget cuts take effect next year.

The State Board of Education and other agencies are testifying before lawmakers Friday about the impact of a 20 percent cut.

Democratic Senate President John Cullerton says Illinois will have a $3 billion budget gap next year. That includes a $1.5 billion decrease in revenues if a temporary income tax increase expires as scheduled.

State Superintendent Chris Koch says the cuts would mean 13,400 teachers would be laid off.

Webmaster's Commentary: 

Mar 21 10:38

The Metamorphosis: No-Job Job Fair

There were about twenty “businesses” at the STEM job fair. Four rows, five kiosk/displays per row, with one on the end for on-the-spot interviews. There were no on-the-spot interviews during the time I was there.

I suspect there were none during the fair’s four hour duration.

And that’s because there weren’t any firms that were obviously looking to make hires in science. What they were mostly interested in was public relations, a kind of social networking where the human resources people sent to staff the booths hand out glossy paper and refer you to the company’s website to upload a resume.

The Environmental Protection Agency was there and was honest about it. The reps said up front they weren’t making any hires, that all of it was processed through usajobs dot gov, the omnibus website for federal hiring.

They were taking e-mail addresses so that you would received blasts when something opened up.

Mar 21 10:36

Illinois to Follow California's Lead With 'Millionaire Tax' Referendum

Michael Madigan, the all-powerful Speaker of the Illinois House of Representatives, announced Thursday that he would direct the Democrat-controlled state legislature to place a referendum on the November ballot that would raise taxes on millionaires by three percent. The measure is similar to a referendum that California Gov. Jerry Brown convinced voters to pass in November 2012, and which helped the state achieve a budget surplus.

Mar 21 10:06

A North Carolina Democrat Woman Asks How Many Women Get Prostate Cancer

At a North Carolina Democrat Obamacare meeting..A typical uneducated Democrat woman was concerned about how many women get prostate cancer, and if the Obamacare unaffordable care act would cover every stage of a woman's prostate cancer..even if it was a pre-existing condition.

Mar 21 10:01

The Latest Heist: US Quietly Snatches the Ukraine’s Gold Reserves

According to reports out of Kiev (see links below), the US has quietly transfers 33 tons of Ukrainian gold out of the country and back to vaults in the US. Presumably, this sovereign wealth transfer would be counted as partial “collateral” for a fresh round of IMF, US FED, and ECB paper debt that is currently being organised for dumping onto the Ukraine.

Multiple inquiries to US Federal Reserve administrators into the location of the Ukraine’s gold have been met with the proverbial ‘pass the buck’, making tracking and tracking the final resting place of these 33 tonnes very difficult indeed – but one can expect that the NY Fed is probably the institution who is masterminding the heist.

Mar 21 09:42

As Wells Fargo is Accused of Fabricating Foreclosure Papers, Will Banks Keep Escaping Prosecution?

A new internal report says the Justice Department massively overstated its successes in targeting mortgage fraud while in fact ranking it as a low priority for investigation. The Justice Department’s inspector general says despite playing a central role in the nation’s financial crisis, mortgage fraud was deemed either a low priority or not a priority at all. This comes as a recently revealed internal Wells Fargo document appears to guide lawyers step by step on how to fabricate missing documents to foreclose on homeowners. Wells Fargo is the country’s largest mortgage servicer and services some nine million home loans.

Mar 21 09:40

F-35 News. Spending frozen on the troubled jet.

Italy has frozen spending on its F-35 jet fighters program, pending a parliamentary review of military spending, says Defence Minister Roberta Pinotti.

Mar 21 09:28

Detroit may raise fines for parking violations

For the first time in more than a decade, the city may increase its parking fines and come down harder on repeat offenders who don’t pay up.

The recommendations, which would bump the current parking fines of $20, $30 and $100 per ticket to a two-tiered structure of $45 and $150, are among the revenue-generating strategies recommended by Detroit’s restructuring consultants.

Webmaster's Commentary: 

So government and bankers screw things up, but the people are made to pay for it all.

Mar 21 08:25

The Cold War that Threatens Democracy

This new Cold War is not about communism taking over the world. It is more about returning to 19th century balance of power interests, borrowing the phrase John Kerry has used against Putin. It is about dividing up the spoils of the first Cold War among the triumphal capitalist democracies, as if Russia is defeated and short-lived. Pushing Western capitalism and NATO towards Russia was sure to touch off the current escalation, and worse may come.

Mar 21 08:18

Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China

While Europe is furiously scrambling to find alternative sources of energy should Gazprom pull the plug on natgas exports to Germany and Europe (the imminent surge in Ukraine gas prices by 40% is probably the best indication of what the outcome would be), Russia is preparing the announcement of the "Holy Grail" energy deal with none other than China, a move which would send geopolitical shockwaves around the world and bind the two nations in a commodity-backed axis. One which, as some especially on these pages, have suggested would lay the groundwork for a new joint, commodity-backed reserve currency that bypasses the dollar, something which Russia implied moments ago when its finance minister Siluanov said that Russia may regain from foreign borrowing this year. Translated: bypass western purchases of Russian debt, funded by Chinese purchases of US Treasurys, and go straight to the source.

Webmaster's Commentary: 

I summary; the US habit of overthrowing countries to bring them into Breton-Woods and the Petrodollar just shoved two of the largest economies on Earth AWAY from Breton-Woods and the Petrodollar and into a firm alliance with each other. That means that if the US goes to war against one, they go to war against BOTH.

Mar 21 07:07

UK continues mass experiment in human despair

UK Chancellor of the Exchequer George Osborne has confirmed that the Tory-led government's policies to cut public spending are set to continue, but the food banks don't lie.

Prior to delivering his 2014 budget to the country via the chancellor’s annual budget speech to parliament earlier this week, Osborne waited patiently while the prime minister and the leader of the opposition entered into the ritual pre-budget speech exchange.

Tributes were paid by both men to former Labour MP and government minister, Tony Benn. Benn, it should be noted, was the most hated man in Britain at one time, reviled by the Tories, the British establishment, and the leadership of his own party. The tributes that have been paid to him in response to his recent death would suggest that the political class in Britain is either suffering collective memory loss or is riddled with rank hypocrisy.

Mar 21 07:06

The Federal Reserve: Masters of the Universe or Trapped Incompetents?

For a variety of reasons, the Federal Reserve is viewed by many as the financial Master of the Universe. Given how the media hangs on every pronouncement and the visible power of the Fed’s policies to move markets, this view is understandable.

But suppose rather than being masters of all things financial, the Fed was actually little more than a collection of incompetents trapped in a broken system that is beyond repair.

Mar 20 13:18

Kiwi starts direct trading with renminbi from today

Direct trading in the Chinese and New Zealand currencies starts today after a joint announcement in Beijing by Premier Li Keqiang and Prime Minister John Key as he began an official visit.

Webmaster's Commentary: 

"Invade New Zealand! They have Al Qaeda down there! We must bring them freedom and democracy! " -- Official White Horse Souse

Mar 20 13:17

Shekel Momentum Meets Yellen After World-Beating Rally

Israel’s currency has appreciated 7.3 percent against the dollar since the end of 2012, the most among 31 major peers tracked by Bloomberg, and touched a 2 1/2-year high of 3.452 to the greenback on March 7. A technical gauge of trends, divergences and potential reversal points shows that the shekel’s momentum is at its highest since August 2011, signaling the rally may be coming to an end.

That suggests the Bank of Israel may finally get some relief in its attempts to weaken the shekel to support exporters. The currency’s advance may also be hampered as the U.S. Federal Reserve reduces its bond-buying program, which should buoy the dollar.

Mar 20 10:28

Site Cleared Of Homes By Eminent Domain Remains Empty Eight Years Later

It has been a little over eight years since the U.S. Supreme Court decided that homeowners in New London, Conn., had no property rights. In 2005 residents in the Fort Trumbull neighborhood of New London were told they had to abandon their homes so the city’s government could demolish them and hand the property over to developers to build hotels, health clubs and new condominiums.

In 2005, the pharmaceutical company, Pfizer, wanted the city to clear the land because the company had recently built a new research facility in New London. Stating that they didn’t want the new facility in a blighted neighborhood they asked the city to raze the homes on the waterfront of the Thames River so new amenities could be built. Believing that such a move would be good for economic development, city officials agreed.

“Pfizer wants a nice place to operate,” one Pfizer executive said at the time. “We don’t want to be surrounded by tenements.”

Mar 20 09:16

Bank of England Admits that Loans Come FIRST … and Deposits FOLLOW

Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created. For this reason, some economists have referred to bank deposits as ‘fountain pen money’, created at the stroke of bankers’ pens when they approve loans.

Mar 20 08:30

Russia censures unilateral US, EU sanctions over Crimea

Russia has condemned as illegal the unilateral sanctions imposed by the US and the European Union (EU) against Moscow over Ukrainian breakaway region of Crimea.

"Unilateral sanctions have never done any good. They are not legal. And, they do not have international legal grounds," Russian Foreign Minister Sergey Lavrov said on Thursday.

The remarks come as the EU is poised to impose more sanctions on Russia following its decision to annex Crimea.

German Chancellor Angela Merkel said on Thursday that a discussion of financial sanctions -- what the EU is referring to as phase three of its response -- would take place at the EU summit in Brussels later in the day, but no agreement on it is expected.

Mar 20 07:16

CBO Director: Important to Give Advance Warning About Coming Changes to Social Security

The United States faces "fundamental fiscal challenges" stemming from the growth in spending for Social Security and major health care programs," CBO Director Douglas Elmendorf told a gathering in Washington on Tuesday.

The rising cost of those programs leaves Americans with "unpleasant" choices to make, but the sooner they're made, the better, he said:

Webmaster's Commentary: 

What CBO Director Douglas Elmendorf is not mentioning is that starting with the Clinton administration, the US Government "borrowed" the cash from Social Security to spend as general revenues, replacing those funds with Treasury Bills which the US Government is now unable to redeem. Technically, the US Government is already in a state of default, having chosen to default on the American worker, but is unwilling to admit it.

Mar 20 07:06

Sweden offers loan package for Ukraine

Sweden wants to help stabilise the Ukrainian economy by offering a bilateral loan to the country together with other Nordic and Baltic nations, Minister of Finance Anders Borg said.

Mar 20 07:00

A New Cold War: U.S., allies have all but kicked Russia out of Group of 8

Russia’s relatively brief foray into the world’s most exclusive club of rich nations has been undone in just a few weeks, and Moscow increasingly finds itself in Cold War-style isolation.

The U.S. and its allies have all but kicked Russia out of the vaunted Group of Eight, comprised of the world’s top economic powerhouses with origins dating back to the early 1970s. The G-8 has, at least temporarily, reverted to its incarnation before Russia joined in 1998.

Mar 20 06:34

German firms fear spiraling sanctions in Ukraine, Russia

The story of Gluhvizi has made everyone nervous. A few days ago, some shady looking men turned up at the kaolinite factory in Gluhvizi, some 200 kilometers (125 miles) west of Kyiv, and said they wanted to install a representative in the management. The factory belongs to the German Quarzwerke company, which is based near Cologne.

According to Quarzwerke's boss, Otto Hieber, the Ukrainian representative was supposed to control the company and influence the distribution of wages. "It was an organization which called itself 'People's Self-Defense Committee.'"

This story ended happily: the Ukrainian workers chased the men from the factory and Hieber still has control of his subsidiary. A little further east there was a similar case - there too local gangs tried to use the political chaos to take over a German company.

Mar 20 06:32

Sky High Food Prices Ahead Due To California Mega Drought

California is in the midst of what experts are calling a “mega-drought” which could lead to sky high grocery prices and even food shortages this year, experts say.

The farms that supply much of the nation’s produce are literally running out of water.

Maps indicate that the areas of Californiahardest hit by the mega-drought are those that grow a large percentage of America’s food. Those regions include Monterey County, which produced nearly half of the lettuce and broccoli grown in the United States in 2012.

It’s not just vegetables that will be affected; nuts and fruits will be hit just as hard or harder.

Mar 20 06:29

Ten French employees of telecoms giant Orange have committed suicide so far this year for reasons 'explicitly related' to their jobs

Ten people working for one of Europe's largest telecom firms in France have committed suicide in the past three months for reasons ‘explicitly related’ to their jobs, it emerged today.

Orange France, a company also present in the UK, is notorious for its tough approach to customer services as well as their employees.

Staff working in call centres have previously complained about a 'bullying culture' and the firm, including having to ask permission to go to the bathroom.

Mar 19 11:48

Federal insurance to cover terrorist attacks to expire

A terrorist attack in the United States could become even more costly to the U.S. economy and national security as federal insurance is due to expire this year.

A study by the Rand Corporation has warned of the impending expiration of the insurance authorized by Congress in the Terrorism Rick Insurance Act following 9/11 that covers claims resulting from an attack.

Mar 19 11:45

Jesse Ventura: We Can Send $1 Billion to Ukraine, But We Can’t Pay for Veterans’ Benefits?

Jesse Ventura, host of “Off the Grid” on, makes a good case for American outrage. While Iraq & Afghanistan vets still wait for benefits, Congress writes checks for foreign aid around the world.

Mar 19 10:37

The DJIA Is A Hoax

The Dow Jones Industrial Average (DJIA) Index is the only stock market index that covers both the second and the third industrial revolution. Calculating share indexes such as the Dow Jones Industrial Average and showing this index in a historical graph is a useful way to show which phase the industrial revolution is in. Changes in the DJIA shares basket, changes in the formula and stock splits during the take-off phase and acceleration phase of industrial revolutions are perfect transition-indicators. The similarities of these indicators during the last two revolutions are fascinating, but also a reason for concern. In fact the graph of the DJIA is a classic example of fictional truth, a hoax.

Mar 19 10:36

Du Pont heir accused of raping 2nd child in lawsuit

A du Pont family heir who raped his 3-year-old daughter nearly a decade ago but received no prison time now faces a lawsuit from his former wife that accuses him of sexually abusing his toddler son.

Webmaster's Commentary: 

Wealth does have its privileges!

Mar 19 10:32

Wealth Transfer Schemes

Wall Street and its Washington cronies would like you to believe that the ongoing financial crisis is based on nothing more than bad judgment calls by otherwise well-meaning Wall Street titans. Don’t believe it. The following articles explore the trail of corruption.

Mar 19 09:44

Just 83,000 Homeowners Get First-Lien Principal Reductions from National Mortgage Settlement, 90 Percent Less Than Promised

Yesterday, the National Mortgage Settlement monitor, Joseph Smith, released his final crediting reports, confirming that all five banks (Wells Fargo, Bank of America, Citi, JPMorgan Chase and Ally, now known after bankruptcy as Residential Capital, or ResCap) have now satisfied the consumer relief portion of the foreclosure fraud settlement. The banks were required to spend $20 billion in “credited” relief (some actions received less than a dollar-for-dollar credit). Smith exults that the gross relief provided totaled over $50 billion, and that “more than 600,000 families received some form of relief.”

What the mainstream media reports on this don’t tell you is that the $50 billion number is wildly inflated: for example, it includes $12 billion worth of deficiency waivers in non-recourse states, which the IRS confirmed have no value whatsoever. But I didn’t know just how inflated these numbers were, and how empty the promises, until I went through them all.

Mar 19 08:50

Billionaires ... First They Came for the Economy

First the oligarchs came for our economy, and we said nothing.

Then they came for our government, and again, we said nothing.

Now, they've come for science, and we're not saying a word.

Thanks to Republican-backed austerity measures, our nation's scientific infrastructure has been hit with devastating budget cuts.

All across America, research labs are shutting their doors, scientists are joining unemployment lines, and potentially life-saving drug trials and research projects are being put on hiatus.

But have no fear, because the billionaire oligarchs are here.

Mar 19 08:40

Housing loses its 'big pop': Blackstone's Schwarzman

Blackstone Group has poured billions into real estate in the past few years, but the U.S. housing market has lost its "big pop" as an investment option, CEO Stephen Schwarzman told CNBC on Wednesday.

During an interview on "Squawk Box," Schwarzman said home prices price in some markets spiked as much as 20 percent in recent years but now investment returns on home prices have settled somewhere between 5 and 10 percent.

"That's just great, but it doesn't justify us buying at the same rate," said Schwarzman, whose firm has bought $7 billion to $9 billion worth of individual homes,

Mar 19 08:27

Spain’s Rescued Banks Seen Facing Claims on $4 Billion Debts

Independent assessors including KPMG and Ernst & Young are examining the possible mis-selling of products such as preferred shares and have agreed to consider compensation requests from 269,204 customers, according to a government report sent to parliament on March 14 that was seen by Bloomberg News. The requests being reviewed represent 45 percent of the 6.8 billion euros of securities subject to the claims, the report said.

Mar 18 13:05

Congresswoman: Obama admin rule change lets insurance companies keep more profits, pay less for care

Republican Tennessee Rep. Diane Black says that the Obama administration’s most recent Obamacare rule change will result in insurance companies keeping more profits while paying less for customers’ health care needs.

“I am writing to express my concern with the proposed rule change released on Friday, March 14th that would allow insurance companies to keep an additional two percent of premiums for purposes other than medical care…your department is now proposing to increase the amount of money that insurance companies will be allowed to retain for profit,” Black wrote in a letter Tuesday to Health and Human Services (HHS) Secretary Kathleen Sebelius, which was obtained by The Daily Caller.

Mar 18 12:46

Pastor Diagnosed With Cancer: 'No Compassion in the Affordable Care Act'

"Back in January, Pastor Angran was diagnosed with stage three cancer of the esophagus. He had insurance, but because of a previous heart condition, it did not cover the treatments he needed for his cancer. He found that out just minutes before receiving life-saving chemo," says the local reporter.

The pastor says, "One of the workers came and said let me talk to you. And so I went to talk to her. She says that we found out that your insurance does not include chemo."

"Over the past two months, the Angrans have emptied their savings account and racked up $50,000 in debt. They signed up for the Affordable Care Act," says the local reporter, "but found it to be anything but affordable. It will cost the couple more than $800 per month, money they just don't have."

Mar 18 10:34

EU aid destroyed Portugal

Portugal, a member of the EU since 1986, is rapidly losing its population due to significant emigration. In terms of the economic indicators Portugal is approaching the level of the least developed countries in the Eastern Europe. The decline became particularly rapid three years ago, when Portugal began to receive financial assistance from the EU. Isn't it an odd coincidence?

The country is deteriorating politically, economically, and morally. Public debt and unemployment are on the rise, and increasingly more able-bodied people of reproductive age are leaving the country. According to the data by Observatório da Emigração, since 2008 about 400,000 people left Portugal, it terms of the percentage of the total population (10.6 million people) this is the second maximum rate in Europe after Malta with a population of just under one million. The country has lost a fifth of its resources in the skilled labor segment.

Mar 18 09:39

Ben Swann: Insurance Companies Will Receive $5.5 Billion in Bailouts in 2015

Insurance companies such as WellPoint and Humana will receive $5.5 billion in bailouts in 2015 to help cover the losses they claim they will face because of Obamacare.

Mar 18 09:14

Housing Starts Drop For Third Month In A Row; Single-Family Permits Drop To Lowest In A Year, Rental Permits Soar

If there is one main theme in the just released February housing starts and permits data, it is that while total starts continued declining, missing expectations of a 910K print, instead dropping from an upward revised 910K to 907K, the third month in a row of declines after peaking at 1,101K in November, with single-family unit starts of 583K, virtually unchanged from the 591K level first seen in September 2012, it was the epic bifurcation in Housing Permits between single-family housing and rental (or multi-family units) that is the highlight.

Mar 18 08:55

White House now touting Obamacare with twerking, cat gifs

The newest Obamacare promotion has the official White House website imitating a March Madness-style bracket featuring gifs of twerking girls, cats and “YOLO” to convince coveted young millennials to sign up.

While President Obama’s campaigns were noted for their successful youth outreach, he has been unable to attract young people to sign up for insurance under Obamacare so far. Last week, Obama tried to up youth exchange enrollment with an appearance on “Between Two Ferns” with the often foul-mouthed star Zack Galifianakis.

Now the White House has moved onto gifs with “The 16 Sweetest Reasons to Get Covered.”

Webmaster's Commentary: 

Just when you think it can't get any sillier!

Mar 18 08:37

High-Speed Trading Said to Face N.Y. Probe Into Fairness

New York’s top law enforcer has opened a broad investigation into whether U.S. stock exchanges and alternative venues provide high-frequency traders with improper advantages, a person with direct knowledge of the matter said.

Mar 18 08:07

28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides

Not a week seems to pass without some banker or trader committing suicide. Today we get news of the latest such tragic event with news that 28-year old Kenneth Bellando, a former JPMorgan banker, current employee of Levy Capital, and brother of a top chief investment officer of JPM, jumped to his death from his 6th floor East Side apartment on March 12.

Webmaster's Commentary: 

... or was pushed.

Mar 18 07:41

The Five-Year Fantasy Is Ending

For five long years, we have pursued the fantasy that we could return to “growth” without having to fix or change anything. The core policy of the fantasy is the consensus of “serious economists,” i.e. those accepted into the priesthood of PhD economists protected by academic tenure or state positions: what we suffered in 2009 was not the collapse of leveraged crony-state financialization but a temporary decline of “aggregate demand” and productive capacity.

The solution, the economic witch doctors asserted, was simple: replace temporarily slack private demand with government-funded demand (deficit spending) and flood the impaired financial system with liquidity (i.e. free money) and increase the incentives to borrow money.

In other words, the “serious economists” solution was to transfer all the interest earned by savers to the banks and push households to buy more low-quality junk from Asia on credit.

Mar 18 06:57

Putin Has Nuclear Economic Bomb-Jim Sinclair

On possible U.S. sanctions on Russia, such as excluding them out of the international payment system called the SWIFT system, Sinclair says, “The use of the SWIFT system (Society for Worldwide Interbank Financial Telecommunication) to create a difficulty, almost a prohibitive difficulty in doing business by preventing bank wires, that would be one of the possibilities. Already, the BRICS nations are developing their own SWIFT system. So, the mistake of using the SWIFT system, short of absolute war, is that it has created a competitor that all the BRICS will be using.” Sinclair also thinks, “To sanction Russia is to forget that Russia supplies Europe with its gas supplies. To sanction Russia is to forget there are many U.S. and European corporations operating within Russia right now. I honestly believe sanctioning Russia is the same as shooting yourself in the foot.”

Mar 18 06:56

Brave New Deviant World

Consider our economic world from two perspectives:

The Deviant View – as represented by those who visit, read alternate media, are skeptical of the “official” news, and who critically examine the financial world.

The others – call it the mainstream media view.

Mar 18 06:43

Bond Insurer Files Suit Against Detroit in Setback for Bankruptcy Plan

A bond insurer on Monday struck a blow against Detroit’s proposal to exit bankruptcy, arguing in a new lawsuit that Detroit’s approach would illegally discriminate against the city’s third-biggest group of creditors — the investors who provided $1.4 billion for its workers’ pensions nearly a decade ago.

Those investors bought “certificates of participation,” which were the first securities Detroit defaulted on as it prepared to file for bankruptcy last summer. The city now contends that the 2005 borrowing was a “sham transaction” and is proposing to give the investors who bought into it one of the lowest recovery rates in its bankruptcy.