ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 01 07:54

Central Bank Created Silver Rally

Central banks have created a mess, unless you enjoy unemployment, crashing economies, a wave of bankruptcies, and half of the world’s assets owned by only a few people.

Feb 01 07:50

Clinton (47%), Sanders (54%) Propose Highest Capital Gain Tax Rates (Now 24%) In History

The Clintons supported the Iraq War, had a love fest with Wall Street, and put more African-American in prison than any other administration. Now they're "progressives." I've never seen such falseness in anyone, anywhere, anytime. And I teach law school

Feb 01 07:47

GOLDMAN SACHS: Don't believe the hype, oil is staying below $40

While it looks as if oil might be rising to hit the $50 or $60 a barrel mark cited by energy company execs as the natural price for the commodity in the next few years, Goldman Sachs disagrees:

Feb 01 07:36

The goal of U.S. foreign policy is to support the military-industrial complex through 'interminable war,' reveals former Bush official

As reported by Zero Hedge, retired U.S. Army Col. Lawrence Wilkerson said in a recent interview that the main "purpose" today of American foreign policy "is to support the complex that we have created in the national security state that is fueled, funded and powered by interminable war."

Yes, that classic "military-industrial complex" that President Dwight D. Eisenhower, one of our finest and most successful Army generals, warned Americans about during his final State of the Union Address on Jan. 17, 1961.

Feb 01 07:34

Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country.

Webmaster's Commentary: 

We are seeing that here in Hawaii, along with skyrocketing prices!

Feb 01 07:26

FEEDING THE MILITARY-INDUSTRIAL COMPLEX

Because he had commanded Allied forces in World War II, President Eisenhower understood the excesses of the war industry and warned Americans about the dangers of the military-industrial complex, a force that continues to siphon off tens of billions of tax dollars, as Jonathan Marshall explains.

Feb 01 05:08

San Francisco Super Bowl:

San Francisco Super Bowl: crooked accounting, mass surveillance and a screwjob for taxpayers & homeless people

Feb 01 04:46

Asian Markets Close Mixed: Weak PMI Data Weighs on China

Asian markets traded mixed on Monday with China taking the biggest hit to close in the red. The weak Chinese PMI manufacturing data coupled with decline in oil prices, drove the equity stocks in the region to close mix.
***
SSE Composite index in China closed down 1.78% on Monday after PMI index disclosed contraction in manufacturing and services sector of the country. The Purchasing Managers’ Index (PMI) for manufacturing sector in January dropped to 49.4, its lowest level in three years, from December’s 49.7, according to National Bureau of Statistics (NBS).
***
>The People’s Bank of China (PBOC) also injected around $1.5 billion in cash in the country’s financial system
>China’s Energy sector performed poorly during today’s trading session.
>Hang Seng in Honk Kong closed down 0.45%, erasing early gains.
>Oil prices plunged on Monday during Asian trading hours

Feb 01 00:59

Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises

The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will convene a public hearing on the report Feb. 2. The report also states that the Obama administration crafted actual contingency plans to pay for Social Security and veterans benefits, as well as principal and interest on the national debt if the government was temporarily unable to borrow more money. The Committee concludes that over the last two years the Treasury Department has “obstructed” congressional efforts to get to the bottom of the administration’s real-time policy during the two showdowns.

Feb 01 00:46

Wall Street Expands Role As ’16 Campaign Bankroller

Wall Street is emerging as a particularly dominant funding source for Republicans and Democrats in the presidential election, early campaign-finance reports filed with the Federal Election Commission show. The trend comes even as candidates seek to cast themselves as uniquely able to take on the bankers and investors who contributed to the economy’s collapse almost a decade ago.

Jan 31 22:27

WalMart “Absolutely Shafted” Washington DC; Here’s How

Someone should be "held accountable" for the hundreds of jobs poor residents won't get thanks to the city's move to aggressively hike the pay floor. But when it comes to who should be held accountable, perhaps you should ask the city's unemployed if they'd rather have a job with the minimum wage at $10/hour or be jobless with the minimum wage at $11.50/hour. Once you get your answer, look inward on the whole "accountability" thing.

Jan 31 21:11

US national debt accelerating at over a trillion/year in our asset-hole ‘debt supply’ system; demanding monetary reform & public banking yet?

*hyperlinks/videos live at source*

hat tip: Prison Planet

The US federal government debt is now $19 trillion, having risen over a trillion each year of the Obama administration.

This article will examine US economic status, and obvious solutions promoted by many of America’s brightest minds since Benjamin Franklin wrote a pamphlet how colonial Pennsylvania operated its government without taxes, and which we could easily do today.

Let’s examine just some of the facts of the current US economy that demonstrates it’s criminal status:

We’ve already documented how the global so-called “elite” 1% are now wealthier than the 99% while ~30,000 children die daily from preventable poverty in gruesomely-slow agony. Just 62 people on Earth own more than the bottom 50%.
The US .1% own more than the bottom 90%.
The top 20 Americans (.000006%) own more than the bottom 50%.

Jan 31 17:54

BLM to lease drilling rights under Lewisville Lake

The Bureau of Land Management will sell a 10-year mineral rights lease for a section of Lake Lewisville at a live auction in Santa Fe, New Mexico on April 20.

The winner will get the rights to extract natural gas locked in the Barnett Shale beneath a 258.9-acre collection of parcels underlying the western arm of Lewisville Lake in the Hickory Creek branch.

The minimum bid is $2 per acre, and BLM charges an annual rental rate of $1.50 per acre for the first five years of the lease, and $2 per acre after that. The lease will remain in effect as long as there is at least one producing well. If gas is produced, the operator would pay a 12.5 percent royalty to be split between the federal government and the State of Texas.

Jan 31 16:27

Youth unemployment in Europe:

Jan 31 16:08

Gold: "It's an Exciting Time Right Now"

Jan 31 15:59

Internet Sector Giving Bulls Glimmer Of Hope?

Jan 31 15:25

The US Plans to Buy 500 Fighter Jets That Don't Work

The F-35 is a $400 billion (and counting) flying nightmare. And the Pentagon wants to buy hundreds of them — "tests" and "modifications" can come later. What can you do with hundreds of billions of dollars? If you're the wealthiest nation on earth with a 20% child poverty rate, the answer is beyond obvious: Let's spend all that money on a fancy airplane that we don't need and doesn't work...

Jan 31 14:53

FINANCIAL MELTDOWN EMINENT!!

Jan 31 14:34

The Home as Miracle Subprime ATM Re-Surges

Jan 31 12:22

Barclays, Credit Suisse Said to Pay $154.3 Million On Dark Pools

Barclays Plc and Credit Suisse Group AG are expected Monday to settle allegations by New York’s top cop and the Securities and Exchange Commission that they misled investors on how they managed their private trading platforms, according to a person familiar with the matter.

Barclays will pay $70 million, split evenly between the two enforcers, the largest fine levied on a dark pool operator, according to the person. Credit Suisse will pay $84.3 million. That payment includes $24.3 million to the SEC for disgorgement and interest, with the remainder split evenly between the two authorities.

(*and how much goes to the misled investors ? )

Jan 31 12:20

Wall Street celebrates mounting signs of US slump

On Friday, the Commerce Department released the latest in a series of economic reports pointing to a dramatic slowdown in the US economy, with vast global implications. The response of Wall Street was a euphoric surge on US markets, sending the Dow Jones industrial average up by nearly 400 points and leading every major stock index around the world to close sharply up for the day.

Jan 31 12:04

Is Our Economy Collapsing?

Jan 31 11:47

Mining Industry in Collapse

Jan 31 11:41

Federal Reserve would prefer to wait and watch

Federal Reserve could take more time in deciding about the interest rate hike as the world economy is going through tough times.

(*So we might as well go draw a tall drink of water out of the faucet , and wait & see what they want to do next .)

Jan 31 11:36

Global Deal To Cut Oil Production Unlikely

Conflicting reports last week that renewed anticipation of global oil production cuts, then quickly squelched it, left in doubt the prospects of crude prices that have plunged 70% the past 18 months and rocked the global economy.

News that OPEC and Russia could meet in February to trim output pushed up West Texas Intermediate 8% until reports shot down the possibility, causing crude to give back much of the advance. Still, speculation of a deal left the U.S. benchmark up 4% the past two trading days at $33.62 a barrel, capping its second straight weekly gain.

So is a global oil agreement likely?

Jan 31 10:00

A Chinese Banker Explains Why There Is No Way Out

Over the past year, we have frequently warned that the biggest financial risk (if not social, which in the form of soaring worker unrest is a far greater threat to Chinese civilization) threatening China, is its runaway non-performing loans, which at anywhere between 10 and 20% of total bank assets, mean that China is one chaotic default away from collapsing into the post "Minsky Moment" singlarity where it can no longer rollover its bad debt, leading to a debt supernova and full financial collapse. And as China's total leverage keeps rising, and according to at least one estimate is now a gargantuan 350% of GDP (incidentally the same as the US), the threat of a rollover "glitch" gets exponentially greater.

Webmaster's Commentary: 

Jan 31 09:57

"Pandora's Box Is Open": Why Japan May Have Started A 'Silent Bank Run'

As extensively discussed yesterday in the aftermath of the BOJ's stunning decision to cut rates to negative for the first time in history (a decision which it appears was taken due to Davos peer pressure, a desire to prop up stock markets and to punish Yen longs, and an inability to further boost QE), there will be consequences - some good, mostly bad.

Jan 31 09:55

Six Years and $17 Billion Wasted in Afghanistan

What did you get for Christmas these last six years?

The U.S. government was nice enough to gift our loyal friends the Afghans $17 billion of your tax money, and, in the true spirit of giving, asked nothing in return for itself.

What that means in actual dollars and nonsense is that the U.S. government wasted $17 billion in taxpayer money in Afghanistan on various projects that never made it off the ground or were doomed to fail because of incompetence or lack of maintenance, according to a new report.

Webmaster's Commentary: 

Jan 31 09:49

Chart Of The Day: $17 Trillion In Student Debt By 2030

Student Loan Debt is a cancer for our society. This misconception that getting a college education equals a steady career has been dashed by the recession. For-profit colleges pray on undereducated and low-income individuals. Text book prices have risen exponentially while the cost of a quality education has as well.

Jan 31 09:47

I am the student loan crisis at its ugliest: I graduated and found out I have $200,000 in debt

We are here today, donning our ceremonial robes and caps, to recite the traditional vacuous platitudes and wish you well in paying off high-interest student loans for which we are in no way held accountable.

Let us now further romanticize our fair institution by singing the alma mater and conveniently forget that tuition has gone up 1,120 percent since 1978. Good luck out there, kids!

Jan 31 09:06

Angry Residents Wave Pitchforks, Torches In Protest Of Mayor's Crackdown On Homelessness

A group of fired-up activists in Portland, Ore., who were tired of seeing homeless people being mistreated staged the kind of protest that will be difficult for the mayor to ignore.

An estimated 4,000 people sleep on the streets of Portland, Ore., on any given night and, since last summer, life has become increasingly difficult for them.

So, a group of protesters descended upon Portland City Hall on Tuesday night carrying pitchforks and torches to "shame the mayor into action," organizer Jessie Sponberg told The Oregonian.

Jan 31 09:06

Strike shuts down third-biggest U.S. port

Jan 30 19:11

2016 Will Be Far Worse Than 2008

Jan 30 13:56

Caterpillar Closing 5 Plants, Cutting 670 Jobs

Jan 30 09:34

As Goes January, So Goes the Year…

Jan 30 07:59

Examples of BLM Mismanagement!

"The questionable legality of “zeroing out” entire herds of wild horses:
BLM zeroed out 12 herds in Nevada in the summer/fall of 2009. 1.4 million acres could not sustain 640 horses as according to BLM WH&B Chief Don Glenn, “the land was no longer appropriate”. However, added livestock grazing leases will be issued on the very land the horses were removed from.

According to wildlife biologist, Craig Downer, the wild horses in these herd areas were not in jeopardy, nor is the land upon which they roam.

herds remaining in adjoining Nevada HMA’s will have or have had the size of the designated areas significantly reduced.- one by over 60,000 acres

Challis Roundup, July/August 2009- 7 horses died, 7 foals orphaned and range was in great condition

Jan 30 07:56

FLASHBACK 2014 - Obama Signs Executive Order To Legalize BLM's Land Grabs

Webmaster's Commentary: 

Basically, Obama ordered the Department of the Interior to commit an illegal act.

Jan 30 07:52

Next Collapse a Chance to Break Free of Debt Slavery – Michael Rivero of WhatReallyHappened.com

Jan 30 07:50

HSBC Curbs Mortgage Options to Chinese Nationals Buying U.S. Real Estate

Two days ago, I published a post explaining how the super high end real estate bubble had popped, and how signs of this reality have emerged across America. Here’s an excerpt from that post, The Luxury Housing Bubble Pops – Overseas Investors Struggle to Sell Overpriced Mansions:

The six-bedroom mansion in the shadow of Southern California’s Sierra Madre Mountains has lime trees and a swimming pool, tennis courts and a sauna — the kind of place that would have sold quickly just a year ago, according to real estate agent Kanney Zhang.

Not now.

Jan 30 07:49

China's 3 Trillion Yuan Margin Call Time Bomb Is About To Explode

Make no mistake, investors didn’t need any more reasons to be bearish on Chinese equities.

Mainland markets are veritable casinos dominated by retail investors who until last summer, were enthralled with the prospect of easy riches in an environment where shares only seemed to know one direction: up.

All of that changed last June when a dramatic unwind in the half dozen backdoor margin lending channels that helped to fuel the rally triggered an epic rout that became self-fulfilling once the retail crowd (which accounts for 80% of the market) became rip sellers rather than dip buyers.

Jan 30 07:48

Report: Store Inventory Levels Reduced Nationwide: “Stock Up Now While You Can!”

Sometimes good comments are worth an entire article. This author is a big believer in the fostering of good, intelligent dialogues with commenters on these various alternative media sites. We all have the ability (with comments) to function in the manner of unofficial reporters. The nation is huge; however, the distance is nominal and the situations that arise in the nation as a whole can be chronicled and reported by we, the average citizens. The comments and interactions are a means to that end.

In this light, I wish to ask you, the Readership to report on this important topic in order to present others with the situations taking place in their locales. The topic referred to being declining inventories and a lack of purchases to meet with customer (I despise the word “consumers”) needs in terms of foodstuffs and nondurable goods.

Jan 30 07:38

Court denies bail to Ammon Bundy & 3 others as Oregon occupation continues

A federal court judge in Portland has denied bail to Ammon Bundy and three of his cohorts as the occupation of a federal wildlife refuge building in Burns, Oregon continues. The FBI says four people remain there as the protest hits its fourth week.

Jan 30 07:26

LaVoy Finicum forced to rabbit {UNSEEN VIDEO}

Jan 30 07:22

World War III - The New Axis of Evil

There isn't just one motive for this bloodbath. Rather there is a matrix of motives which intersect in some rather odd places.

Of course money had to play a role.

In 2009, Qatar put forth a proposal to build a natural gas pipeline which would have passed through Saudi Arabia, Jordan, Syria, to Turkey and into Europe. The president of Syria, however rejected this proposal. Instead, in 2011 he forged a pact with Iraq and Iran to run a pipeline eastward cutting Qatar and Saudi Arabia out of the loop completely.

It was around this time that jihadists began flooding into the region intent on ousting Assad. The West presented these groups as freedom fighters.

Jan 30 07:21

The Federal Reserve Just Made Another Huge Mistake

As stocks continue to crash, you can blame the Federal Reserve, because the Fed is more responsible for creating the current financial bubble that we are living in than anyone else. When the Federal Reserve pushed interest rates all the way to the floor and injected lots of hot money into the financial markets during their quantitative easing programs, this pushed stock prices to wildly artificial levels. The only way that it would have been possible to keep stock prices at those wildly artificial levels would have been to keep interest rates ultra-low and to keep recklessly creating lots of new money. But now the Federal Reserve has ended quantitative easing and has embarked on a program of very slowly raising interest rates. This is going to have very severe consequences for the markets, but Janet Yellen doesn't seem to care.

Jan 30 07:19

Former Citigroup Trader Explains How Wall Street Came to Own the Clintons and the Democratic Party

Here are some choice excerpts from the piece:

I owe almost my entire Wall Street career to the Clintons. I am not alone; most bankers owe their careers, and their wealth, to them. Over the last 25 years they – with the Clintons it is never just Bill or Hillary – implemented policies that placed Wall Street at the center of the Democratic economic agenda, turning it from a party against Wall Street to a party of Wall Street.

That is why when I recently went to see Hillary Clinton campaign for president and speak about reforming Wall Street I was skeptical. What I heard hasn’t changed that skepticism. The policies she offers are mid-course corrections. In the Clintons’ world, Wall Street stays at the center, economically and politically. Given Wall Street’s power and influence, that is a dangerous place to leave them.

Jan 30 06:08

Japan joins negative interest rate club

Jan 29 18:25

Mismanagement of Oil & Gas Development isn’t a new thing

Recently the Office of the Inspector General completed a report entitled “Poor Management by BIA Has Hindered Energy Development on Indian Lands.”

The report stated the “Bureau of Indian Affairs' (BIA) management shortcomings........

Jan 29 18:22

FLASHBACK: LAS VEGAS PREMIERE SET TO EXPOSE BLM MISMANAGEMENT

By Roy L. Hales

August 6, 2013 (Las Vegas) – It is no coincidence that the Las Vegas premiere of “Who Are My People?” is on August 13. National Clean Energy Summit 6.0 takes place the same day.

The Secretary of the Interior (Sally Jewell), Secretary of Energy (Dr. Ernest Moniz), Chairman Jon Wellinghoff of the Federal Energy Regulatory Commission and Senate Majority Leader Harry Reid will be there along with an array of governors, senators, former senators, the CEO of the American Wind Association, the Director of the National Renewable Energy Laboratory, etc. will all be at the summit.

Emmy Award winning filmmaker Robert Lundahl invited them to the showing.

“They should be there because they need to understand the impacts of their policies,” Lundahl said. “There is giant disconnect between the polices and the people who make the policies and the impact these policies have on the Native culture, tribes and the environment.”

Jan 29 17:49

A Bold Warning: Financial Meltdown Eminent

Jan 29 17:42

Public Land Mismanagement

“This legislation guarantees that we will not take our forests, rivers, oceans, national parks, monuments and wilderness areas for granted, but rather we will set them aside and guard their sanctity for everyone to share. That’s something all Americans can support.” Those were the words of President Barack Obama on March 30 when he signed the Omnibus Public Lands Management Act that placed an additional 2 million acres of public land under the federal government’s most stringent use restrictions. To anyone who knows the record of public land management, however, these words of preservation and unanimous support ring hollow.

Environmental Irresponsibility–Decades of fire suppression by the Forest Service have disrupted natural fire cycles and turned many western forests into tinderboxes waiting to burn........

Jan 29 17:27

U.S. manufacturing Depression worsens further

Jan 29 16:13

A “Death Spiral” for the Chinese Yuan?

Jan 29 16:03

Negative Interest Rates Show Desperation of Central Banks

Japan has joined the EU, Denmark, Switzerland and Sweden in imposing negative interest rates.

Jan 29 15:45

Dow soars nearly 400, but all 3 major U.S. indexes end January lower

The Dow rose nearly 400 points Friday to cap a turbulent month on an upbeat note after a surprise interest rate cut by the Bank of Japan and despite a report showing weak fourth-quarter U.S. growth.

(*The weekend bouncing of the dead cat )

Jan 29 15:12

Officials: Homeless Population Grows by 19% in Seattle

Mayor Murray as declared homelessness an emergency issue in Seattle.

Jan 29 14:27

Microsoft's Windows-and-devices group again records lower revenue

Microsoft yesterday again reported a decline in revenue for the group responsible for Windows, the Surface line of 2-in-1s and notebooks, and smartphones, in 2015's fourth quarter.

Jan 29 13:54

Bilderberg Presidential Candidate Confronted And Exposed As A Liar


In this video Luke Rudkowski and Julio N Rausseo confront former presidential candidate and now Marco Rubio spokesperson George Pataki on attending the elites only bilderberg meeting. Pataki praised himself as an honest man more than two times during the press conference but when asked about the bilderberg meeting he quickly showed how dishonest he was.

Jan 29 13:37

Negative Rates In The U.S. Are Next: Here's Why In One Chart

When stripping away all the philosophy, the pompous rhetoric, and the jawboning, all central banks do, or are supposed to do, is to influence capital allocations and spending behavior by adjusting the liquidity preference of the population by adjusting interest rates and thus the demand for money.

To be sure, over the past 7 years central banks around the globe have gone absolutely overboard when it comes to their primary directive and have engaged every possible legal (and in the case of Europe, illegal) policy at their disposal to force consumers away from a "saving" mindset, and into purchasing risk(free) assets or otherwise burning through savings in hopes of stimulating inflation.

Today's action by the Bank of Japan, which is meant to force banks, and consumers, to spend their cash which will now carry a penalty of -0.1% if "inert" was proof of just that.

Jan 29 13:27

Saudi Arabia asks Russia to reduce oil production

Saudi Arabia has suggested Russia cut its oil production by five percent –about 500,000 barrels per day – a source familiar with ongoing negotiations among the oil-producing countries told Gazeta.ru. Presently, the parties are discussing various possible ways of reducing supply in the world market, the source pointed out. However, Russian companies do not intend to reduce production just yet, while the Saudis will not be able to achieve a significant supply reduction in the world market with Russia alone, experts say... On January 28, 2016 representatives of Russian oil companies and Alexander Novak, Russia’s Minister of Energy, discussed the proposal made by Saudi Arabia to consider the possibility of output. Russia is not yet ready to cut output.

Jan 29 13:25

WORLD WAR III - THE NEW AXIS OF EVIL

The alliances and proxies of the Syrian Front explained. The concept that humanity is teetering on the edge of third world war is no longer the domain of the lunatic fringe. Those of you who have been paying attention know that in reality, the war is already underway. In this video we're going examine the profiles of the key players and the alliances they've formed, expose their motives, and present evidence of crimes that they've already committed. All of our sources will be linked below.

Jan 29 13:04

LIBOR Traders Get Off Scot Free in rate-rigging scandal

James Henry, former chief economist at McKinsey & Co. says, still there are no systemic and institutional accountability to prevent interest rates manipulation.

Jan 29 12:41

The Economic Meltdown: It’s Global. Period.

Jan 29 12:03

3 MAJOR REASONS FOR GOLD IN 2016

Jan 29 11:40

Ron Paul: Fed In A Box - No Tools Left

Jan 29 10:23

Comex bleeds to death … fast!

Jan 29 10:21

The Political Assassination of LaVoy Finicum?

According to a report on his own You Tube channel, LaVoy Finicum was killed on the evening of January 26, 2016 by a US special forces unit while the deceased Arizona rancher “was on his knees with his hands up.”

Finicum is said to have been shot “three times” in an episode that also included the arrest on Highway 395 in Oregon of some of the leadership of the Citizens for Constitutional Freedom. Nevada Assembly woman Michele Fiore also reported in a tweet that Finicum was shot by federal authorities with his hands up.

In a more recent report, North West Liberty News published an interview with Victoria Sharp who was in the “ambushed” car carrying the targeted entourage with LaVoy Finicum at the wheel. She said that Finicum was shot six extra times by special forces police after he was already downed by police gunfire.

Jan 29 09:59

Dollar falls below 75 rubles on Moscow Exchange, Brent prices up 2.4%

Brent oil futures with supply in March 2016 rose 2.4% on the London’s ICE to $34.7 a barrel. Oil prices started growing on Thursday after statements made by Russian Energy Minister Alexander Novak regarding his readiness to take part in the meeting of OPEC member-states and other oil producers in February. 5% production cut by each country may be the subject matter of forthcoming consultations, Novak said.

Jan 29 09:56

Saudi Arabia has no plans to negotiate oil production cut with Russia — media

The authorities of Saudi Arabia do not plan to hold talks with Russia regarding oil production cut, Saudi daily Al-Iktisadiya reported on Friday.
Russia will not purposefully cut oil production: "We assume our oil sector is private and commercially focused. It is not under control of the state. We have a certain participation interest but the market on the whole is regulated by decisions of individual companies. So it will continue," the official said. If the period of low oil prices lasts longer, the Russian oil market is capable of adjusting production and investments level on its own, Dvorkovich said. http://tass.ru/en/economy/853018

Jan 29 09:42

A Dangerous Moment for Social Security

Social Security funds are drying up…will there be any money left when you retire?

Social Security is America’s largest federal program. In 2015, it paid out $870 billion to more than 59 million Americans.

Most Americans see Social Security as a retirement savings program. During your working life, you pay 6.2% of every paycheck to Social Security. In return, the government sends you a check every month after you retire.

However, unlike a retirement plan like a 401(k), the money you pay into Social Security doesn’t land in your own personal account. Instead, it goes into one big pot called the “Social Security Trust Fund.”

Jan 29 08:59

And The Biggest Contributor To U.S. Growth in 2015 Was...

One look at the chart below should explain not only how the "services" half of the US economy continues to grow, but just which tax, because that is how the Supreme Court defined Obamacare, is responsible for healthcare "spending" amounting to a quarter of the growth in US personal consumption expenditures...

Jan 29 08:36

Swiss government proposes paying everyone £1,700 a month whether they work or not in a bid to end poverty… but insists most people will still want to get a job

Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of £425 a week (or £1,700 a month).

The plan, proposed by a group of intellectuals, could make the country the first in the world to pay all of its citizens a monthly basic income regardless if they work or not.

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