ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 11 07:52

Obama’s secret TPP ‘trade assistance’ rider includes $700 million in proposed cuts to Medicare –Unions, Seniors Groups Urge Congress Not to Cut Medicare to Fund Trade Assistance

An already difficult road for the Trans-Pacific Partnership in the House of Representatives got bumpier on Monday, as controversial Medicare cuts were brought into the mix. Labor unions and senior citizens’ groups are launching efforts to lobby House members against a bill that includes $700 million in proposed cuts to Medicare reimbursements for doctors and hospitals.

Jun 11 07:44

‘You’re Fired – Now Train Your Much Cheaper Foreign Replacement’

If you were laid off from your job, would you be willing to train your replacement if your company threatened to take away your severance pay if you didn’t do it? And how would you feel if your replacement came from India, and the only reason your company was replacing you was because the foreign worker was a lot less expensive?

Jun 11 07:39

Oops! Fed Admits QE Widens Inequality

Once again, the Federal Reserve proves that it’s the last one to know everything that we knew already. Today’s stunning announcement: The Philadelphia Fed admits they (“may have”) made the wealthy wealthier and Main Street poorer.

Oops. Sorry America.

The Philly Fed insists that “redistributing wealth” to the wealthy isn’t the main idea, but just a potential side effect of stimulus that they can’t do much about.

Jun 11 07:38

Why Greece Must Leave

Greece should get out as fast as it can, all member countries should, especially the poorer ones. There is no benign or even economically viable future for any of them in the Union. A future inside the union is infinitely more frightening than one outside. What is evident by now is that the troika creditors don’t come to the table to negotiate, they come to impose their will. And those countries that carry the most debt are most vulnerable to the threats flung across the table. If you don’t get out, in time Germany will decide what you can eat, what your children learn in school, and how you are to behave. You will no longer live in sovereign nations.

Jun 11 06:40

Left wingers stage anti-austerity protest at Greek finance ministry, as bailout talks continue

Greek left-wing demonstrators are staging a sit-in at the finance ministry building in central Athens, in a protest against the radical, left-led government, which they accuse of planning new austerity measures.

The Communist Party-affiliated protesters draped a large banner over the facade of the building, which is opposite Parliament, reading "We have bled enough, we have paid enough."

Jun 11 05:36

Deflation, inflation and the gold price

Jun 11 04:58

IMF DATA SHOWS ICELAND'S ECONOMY RECOVERED AFTER IT IMPRISONED BANKERS AND LET BANKS GO BUST - INSTEAD OF BAILING THEM OUT

'It is dangerous that someone is too big to investigate - it gives a sense there is a safe haven.' 'It is dangerous that someone is too big to investigate - it gives a sense there is a safe haven.'?

Iceland’s finance minister has announced a 39 per cent tax on investors looking to take their money overseas.

The country has imposed the tax to prevent it hemorrhaging money as it loosens bank laws imposed six years ago, when Iceland made the shocking decision to let its banks go bust.

Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where banks were fined, but chief executives escaped punishment.

The chief executive, chairman, Luxembourg ceo and second largest shareholder of Kaupthing, an Icelandic bank that collapsed, were sentenced in February to between four and five years in prison for market manipulation.

Jun 11 04:57

IMF DATA SHOWS ICELAND'S ECONOMY RECOVERED AFTER IT IMPRISONED BANKERS AND LET BANKS GO BUST - INSTEAD OF BAILING THEM OUT

'It is dangerous that someone is too big to investigate - it gives a sense there is a safe haven.' 'It is dangerous that someone is too big to investigate - it gives a sense there is a safe haven.'?

Iceland’s finance minister has announced a 39 per cent tax on investors looking to take their money overseas.

The country has imposed the tax to prevent it hemorrhaging money as it loosens bank laws imposed six years ago, when Iceland made the shocking decision to let its banks go bust.

Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where banks were fined, but chief executives escaped punishment.

The chief executive, chairman, Luxembourg ceo and second largest shareholder of Kaupthing, an Icelandic bank that collapsed, were sentenced in February to between four and five years in prison for market manipulation.

Jun 11 02:55

Uzbekistan: Currency Facing Turbulent Times on Buoyant Black Market

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Uzbekistan’s black market has been unusually volatile lately, a phenomenon that observers attribute to the nosedive of Russia’s ruble and the plunge in dollar remittances from migrant workers. Since the beginning of 2015, the sum has lost some 25 percent of its black-market value, to stand at around 4,300 sums to the dollar as of June 10. The official rate stands at 2,583, having fallen by only 6 percent since January.
>>>

Jun 10 22:47

Cartier boss with $7.5bn fortune says prospect of the poor rising up 'keeps him awake at night'

The multi-billionaire owner of luxury jewellery company Cartier has revealed his greatest fear – robots replacing workers and the poor rising up to bring down the rich.

Jun 10 15:32

This County In Oregon Completely Banned GMO Crops. Here’s Why That Matters For The Environment.

On June 5, Oregon’s Jackson County became the newest county in the U.S. to have an active ban on the growing of genetically modified organisms (GMOs). -- The Genetically Engineered Plant Ordinance went into effect following the partial dismissal of a lawsuit brought by a group of noncommercial alfalfa farmers on May 29. The farmers sought to overturn the GMO ban, viewing the ordinance as a violation of their economic and legal rights.

Jun 10 14:44

George Osborne to start selling off Royal Bank of Scotland

The Royal Bank of Scotland is returning to private hands, bringing to an end one of the most dramatic interventions of the banking bail-outs nearly seven years ago, the Chancellor announced on Wednesday night.

Jun 10 14:13

Fed At Risk Of Missing Window To Hike Rates

Jun 10 14:13

Can Stocks Keep Rising as Rates Go Higher?

Jun 10 13:55

Log of Members Who Read Obamatrade Bill — Also Locked in Private Room!

Congress is being so secretive about Obamatrade that Congressional authorities are not only keeping the text of President Barack Obama’s various trade deals secret, they’re also keeping the log that lists which members of Congress went to go read the Trans Pacific Partnership (TPP) private as well.

Jun 10 13:40

U.S Treasury Hints at "Sacrifices" In Exchange for Restructuring of Ukranian Debt

U.S. Treasury officials warned that everyone would have to make sacrifices if the IMF were to continue funding Ukraine, but said that it would be in everyone’s best interest.

Jun 10 13:21

Convicted Criminal David Petraeus to Represent US at Bilderberg

Former CIA boss excused from prison crucial to Bilderberg mass surveillance agenda

Jun 10 13:00

The S&P 500 Is Pushing Its Limits!

Jun 10 13:00

What Happens To Stock Prices After Layoffs

Jun 10 12:25

Obama Admin Will Forgive Up To $3.6 BILLION In Student Loans

The Department of Education announced Monday that it is implementing a plan to forgive as much as $3.6 billion in student loans given to students attending schools affiliated with the defunct for-profit college chain Corinthian Colleges.

Jun 10 11:53

Graduate Gifts $400M to Harvard

Recently, Harvard received the largest monetary donation in the school’s history, $400M.

Jun 10 11:52

66% of U.S. Workers Don’t Take Parental Leave

It seems that American workers are reluctant to take time off from work, even after the arrival of a new baby. Nearly two-thirds of full-time employees (63%) who are parents did not take paid parental leave in the U.S.

Jun 10 11:17

BILDERBERG GROUP’S TRANSHUMANIST CORPORATE COMMUNISM

The elusive, secretive Bilderberger Group is set to meet this week in Watford, England with plans to reportedly hand the “baton” of leadership on to Google. I recall back in 1999 first reading about the Bilderberg Group on an obscure conspiracy site now long gone. At that time, if you mentioned the Bilderberg Group or other leftist elite combines, you were considered insane. Indeed, even a few years ago, major news and so-called “conservative” news refused to mention Bilderberg, with neo-con talkmongers cowering to what they falsely consider capitalism. While it may be considered a good sign that Bilderberg is now appearing in mainstream news due to sites like Drudge and Infowars forcing the elite entity into public view, Bilderberg is still able to hide behind a mask of so-called capitalism.

Jun 10 11:12

Friday Vote: Congress Rushing the TPP Through Even Though They Know Americans Will Lose Their Jobs

There's nothing free about free trade.

The only reason Congress is holding out to vote on the TPP until Friday according to Politico is "They’re trying to resolve a last-minute hangup over aid for workers who lose their jobs to free trade":

House leaders, confident but not yet certain they have the support to pass sweeping trade legislation, are aiming to bring the package to a floor vote by the end of this week — even as they rush to resolve a last-minute hangup over how to pay for aid to displaced workers.

This means Congress is WELL AWARE a lot of people are about to lose their jobs once the TPP that none of us have even gotten to read goes through...

(read more)

Jun 10 10:46

Too Soon to Raise Interest Rates?

When the Federal Reserve’s Federal Open Market Committee meets next week, higher interest rates are sure to be on the agenda. In an effort to reduce unemployment in the wake of the recession, the Fed has held rates at historic lows. Some observers believe that the economy has recovered sufficiently to raise rates at some point this year. While the unemployment rate has fallen since the highs of the recession, a new paper from the Center for Economic and Policy Research indicates that the labor market is still far from a full recovery.

Jun 10 10:24

THE VACCINE CONSPIRACY

U.S. Government Colludes With BIG Pharma To Poison The America People

Jun 10 10:20

The PetroYuan Is Born: Gazprom Now Settling All Crude Sales To China In Renminbi

Russia’s third-largest oil producer, is now settling all of its crude sales to China in renminbi, in the most clear sign yet that western sanctions have driven an increase in the use of the Chinese currency by Russian companies.

Russian executives have talked up the possibility of a shift from the US dollar to renminbi as the Kremlin launched a “pivot to Asia” foreign policy partly in response to the western sanctions against Moscow over its intervention in Ukraine, but until now there has been little clarity over how much trade is being settled in the Chinese currency.

Gazprom Neft, the oil arm of state gas giant Gazprom, said on Friday that since the start of 2015 it had been selling in renminbi all of its oil for export down the East Siberia Pacific Ocean pipeline to China.

Jun 10 10:19

Disney Blacklisted Displaced American Workers

The American tech workers Disney laid off in January after forcing them to train their foreign replacements were put on a “black list” that disqualified them from hire by any contractor that works with Disney, emails obtained by The Daily Caller News Foundation between one of the laid off workers and a recruiting firm show.

The worker, who asked to remain anonymous because he is waiting on legal advice, learned of the black list when he sent his resume and performance review to a local IT recruiting firm that wanted to place him with a company contracting with Disney.

Webmaster's Commentary: 

Looks like there is a bit of rat in Mickey Mouse's family tree!

Jun 10 10:14

Why are Congressmen Signing Non-Disclosure Forms on Obama’s Secret Treaty?

Those who have been to this classified room to read it cannot discuss; and, it has been stated, most recently by Rep. Jeff Duncan (R-SC), that members of Congress are required "to sign a non-disclosure agreement" that assures no member who has read it will discuss it.

According to former Arkansas Governor and potential 2016 presidential candidate Mike Huckabee, "Obamatrade is a secret deal that most members of Congress who support it admit they haven't been to the secret room to read the secret deal."

Jun 10 09:21

April's Enormous, Humongous Trade Deficit Was $40.9 Billion

The U.S. Census Bureau reported Tuesday that the April goods and services trade deficit was an enormous, humongous $40.9 billion, down from an enormouser, humongouser $51.4 billion in March. (March was revised to $50.6 billion in today’s report.)

Jun 10 08:55

A Derivatives Bomb Exploded Within The Last Two Weeks

Something deep and dark has transpired behind the Orwellian “curtain” used by the elitists to hide the inner workings of the financial markets, especially with regard to big bank balance sheets and OTC derivatives. What’s happening right now reminds of the movie “Jurassic Park.” You can hear and feel the monster coming but you can’t see it yet and you don’t know it will pop up in your face or how big it is.

Jun 10 08:53

TIGTA: IRS Can’t Verify Qualifications For Obamacare Subsidies

In response to the delays in receiving required Exchange Periodic Data submissions, the IRS developed contingency plans in an effort to improve its ability to ensure the accuracy of PTC claims. However, without the required enrollment data from the Exchanges, the IRS will be unable to ensure that all taxpayers claiming the PTC bought insurance through an Exchange as required.

Webmaster's Commentary: 

Is there anything about Obamacare that is actually working? Anything at all?

Jun 10 08:50

The Public’s Illusions Are About To Be Crushed As The Biggest Ponzi Scheme In World History Implodes

Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events warned King World News that the public's illusions are about to be crushed! He also warned that a major panic is coming as the world is rocked by global financial chaos.

Jun 10 08:35

Gold Bashers – Just For You!

Jun 10 07:58

Despite G7 propaganda, it's clear Russia has better things to do than start WW3

Instead of a real G7, we have a farce. An American dominated talking shop where the US President allows 'friendly' foreign leaders to tickle his belly for a couple of days. There is no dissent. Washington's dominance goes unquestioned and everyone has a jolly time. Especially since they kicked out Russia last year - Vladimir Putin was the only guest who challenged the consensus.

Jun 10 06:54

IRS EMAILS ADMIT THEY KNOW TARGETING ACTIVISTS IS WRONG BUT DON'T CARE

The DOJ won't prosecute IRS official Lois Lerner for contempt! Ronald Machen, the former U.S. attorney for the District of Columbia, told House Speaker John Boehner in a seven-page letter this week that he would not bring a criminal case to a grand jury over Lerner’s refusal to testify before the House Oversight and Government Reform Committee in March 2014.

Jun 10 03:03

Is This Why U.S. Treasuries Are Diving?

Jun 09 22:55

Food Banks in NYC Are Running Out of Food

Despite the media’s claims that we’re no longer in a recession, millions of Americans are still struggling to make ends meet. It seems that America has developed a permanent underclass of citizens that just can’t quite rise above their poverty. No matter how high home prices rise or how far the stock market soars, the profits never seem to trickle down to this segment of society.

If you’re looking for proof that this permanent underclass exists, look no further than the massive number of people who still rely on food stamps and food pantries to survive. In fact, their ranks may be growing, which is starting to cause some food pantries to run out of resources on a regular basis. In New York City, 1.4 million residents eat at food pantries (out of a total population of 8.5 million), a number which is currently growing 20% every year.

(read more)

Jun 09 21:23

Collapse: HSBC To Fire 50,000

Jun 09 19:12

What You Don’t Know about the Federal Reserve System

Waking Times

What is the federal reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Much of the public is kept in the dark about these important matters. In this feature-length documentary film, The Corbett Report explores these important questions and pulls back the curtain on the US Federal Reserve Bank.

Jun 09 16:03

Global Trade War US/EU against BRICS

Do not be confused. Globalists whether Wall Street capitalists, corporatists, collectivist authoritarians or devoted internationalists, all share a common mindset – a worldwide financial system must control commerce and dictate economic activity. Under this formula, trade has little to do with free market transactions. Monopolies are the rule and real competition is fatal. So when the financial press emphasizes the difference between the IMF – World Bank faction and the newly aligned BRICS association, the conclusion usually misses and ignores that all the players are part of a globalist cabal committed to a New World Order.

Jun 09 15:36

Guess How Many Nations In The World Do Not Have A Central Bank?

Central banking has truly taken over the entire planet. At this point, the only major nation on the globe that does not have a central bank is North Korea. Yes, there are some small island countries such as the Federated States of Micronesia that do not have a central bank, but even if you count them, more than 99.9% of the population of the world still lives in a country that has a central bank.

Jun 09 15:23

ETF investors abandoning gold in droves

Jun 09 14:58

Alexis Tsipras - Let’s not be fooled

After five years, we need a definitive solution, both for Greece and for Europe. A solution that will put an end to the policy of unrealistic surpluses and austerity and which will ensure the sustainability of the Greek debt.

Jun 09 13:47

Vaccine Whistleblowers File to Compel Merck to Respond to Federal Lawsuit

Two former Merck & Co Inc scientists accusing the drugmaker of falsifying tests of its exclusive mumps vaccine

Jun 09 13:16

Flashback: Bilderberg Decides World’s Political, Economic Policies, Says NATO Secretary-General

Taxpayers are coughing up the millions spent on security for the Bilderberg Group they’re not allowed to know about even though the private meeting sets political and economic policies for their country. -- If this isn’t tyranny, what is?

Jun 09 12:26

Bilderberg To Discuss Capital Controls on Consumers While HSBC Pays $40 Million Money Laundering Fine

The powerful Bilderberg Group will discuss imposing more capital controls on average citizens while HSBC, whose Group Chairman will attend the conference, is set to pay more than $40 million dollars for illegal money laundering involving arms dealers and helping the wealthy avoid taxes. -- It’s very much a case of do as we say, not as we do

Jun 09 11:24

Student Loan Debt Could Destroy Your Retirement

Jun 09 11:12

Meet RCEP: Yet Another Big Bad Trade Agreement No One Has Heard Of

Rival free trade agreements battling it out for economic supremacy in the Pacific region

Jun 09 11:03

MEET RCEP: YET ANOTHER BIG BAD TRADE AGREEMENT NO ONE HAS HEARD OF

Between the ten member states of the Association of Southeast Asian Nations (ASEAN) (Brunei, Burma (Myanmar), Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, Vietnam) and the six states with which ASEAN has existing FTAs (Australia, China, India, Japan, South Korea and New Zealand). RCEP negotiations were formally launched in November 2012 at the ASEAN Summit in Cambodia.

Jun 09 10:52

MORE BANKER DEATHS: GILLIGAN AT AMERICAN EXPRESS, NOYCE AT GOLDMAN SACHS, AND 29-YEAR-OLD THOMAS J. HUGHES

Governments, and the lamestream media, do not appear to be interested.

Jun 09 10:42

Obama blasts Supreme Court for accepting challenge to health care law

President Obama assaulted the nation's top court and seemed to criticize the U.S. legal system as a whole Monday, with the former constitutional law professor declaring that the Supreme Court was wrong to even accept a challenge to his signature health care reform law and deriding the fact that an “individual district court judge” was able to derail his deportation amnesty.

Webmaster's Commentary: 

Obama's getting too big for his britches! He seems to forget that as the head of the Executive Branch, his job is to execute the will of the Congress, but only after the Supreme Court verifies the Constitutionality of the law. The President presides, he does not dictate. Obama has forgotten that simple rule.

Jun 09 10:37

Harper Shrugs as Foreigners Snap up Canadian-Owned Companies

While many Canadians are distressed by the loss of iconic Canadian companies like the Hudson's Bay Company and Tim Hortons, the same can't be said of our governments. They have mechanisms at their disposal to stop the wholesale sell-off of our nation, but they fail to act. Under Stephen Harper, we have continued to bid goodbye to far too many of our home-grown success stories. How will we ever recover these assets when they are gone?

Jun 09 10:30

Carbon Credits: The Future World Currency

You know, those predatory loans globalists offer 3rd world countries knowing they will never be able to produce a high enough GDP to even service the interest on the debt, let alone the principle? Then just like with every other situation in regards to this scam, once they fail to pay back the loans, the IMF and World Bank take control of all the resources and production, and give it back to industrialized countries’ corporate entities.

Finally, as a solution, a conference or summit is formed, usually by none other than, the U.N. The conference is held and blame is put on the super powers for the “rise” in greenhouse gasses and ocean temperatures.

The solution? Implement one of two options, or possibly a mix of the two.

Jun 09 10:21

BILDERBERG & TRADE TREATIES: THE SHADOW GOVERNMENT THAT RULES THE WORLD

Julian Assange and Wikileaks exposed part of the secret behind Obama’s Trans Pacific Partnership, which leading Republicans signed. Senator Jeff Sessions, a Republican from Alabama, was one of the few senators who publicly challenged the secret Obama treaty that, according to the 17 documents released by Wikileaks, will cover over 80% of the U.S. economy and create what Sessions called “global governance,” establishing a global government without the knowledge or consent of the America people.

Jun 09 10:18

Deutsche Bank Offices Raided By Authorities

Just two days after Deutsche Bank co-CEOs Anshu Jain and Jürgen Fitschen announced their resignations, the bank's offices in Germany, France, and the UK have been searched by authorities.

Jun 09 09:54

The Safe Bet May Be Greece Joining the BRICS

Demands for more austerity for Greeks at the G7 may have just pushed Athens to join the Eurasian Economic Union (EEU) and Shanghai Cooperation Organization (SCO)

Jun 09 09:34

CRS: 40% of US Adults Are Unemployed

Jun 09 09:05

Gold as constitutional money

Jun 09 08:53

EMAILS: CORPORATE LOBBYIST THANKS US TRADE REP FOR PASTING HIS WISH-LIST RIGHT INTO TPP

A Freedom of Information Act lawsuit has extracted emails between corporate lobbyists and US Trade Rep officials working on the secretive, corrupt Trans Pacific Partnership treaty. No one is allowed to know what's in TPP -- members of Congress were kept in the dark until the last minute, then threatened with prison if they blabbed. But of course, America's top corporate lobbyists not only got to see TPP, they helped to write it.

Jun 09 08:41

The road leads to Paris.

November 30th - December 11th 2015

World Leaders will gather in Paris to negotiate an international agreement to reduce the global warming pollution that causes climate change.

Webmaster's Commentary: 

Anyone want to bet how much snow they will be holding this meeting in?

Jun 09 08:23

Forget the G7 summit – Bilderberg is where the big guns go

Covering issues from Europe to terrorism and IT, the lesser known Bilderberg policy conference includes prime ministers, CEOs from banks, airlines, oil and the arms industry, and even George Osborne

Jun 09 08:22

Obama, Merkel present united front for more austerity in Greece

On Sunday, in a bilateral meeting ahead of Group of Seven (G7) talks, US President Barack Obama and German Chancellor Angela Merkel discussed the Greek crisis. Reuters, reporting the comments of Obama’s spokesman, said:

“The two leaders agreed Greece must reform and return to sustainable long-term growth, with Obama hopeful Athens and its partners can chart that course without causing volatility in financial markets. …”

Jun 09 08:01

Sentiment Stinks... And That's a Good Sign

Jun 09 07:36

U.S. tech companies expected to lose more than $35 billion due to NSA spying

U.S. companies will likely lose more than $35 billion in foreign business as a result of the vast NSA-surveillance operations revealed by Edward Snowden, according to a new report from the Information Technology and Innovation Foundation (ITIF).

"Foreign customers are shunning U.S. companies," the report asserts, causing American businesses to lose out on foreign contracts and pushing other countries to create protectionist policies that block American businesses out of foreign markets."

Jun 09 06:16

A Technical Review Of Stocks And Bonds

Jun 09 00:31

Deutsche Bank CEOs resign following Libor manipulation scandal

How about sending them to jail for a change...

Jun 08 20:49

Comparison website 'that only pushes banks paying commission': Customers lost out on up to £500 a year in interest after being misled into thinking they were getting best deal

A price comparison site only advertised savings accounts for banks it had a financial agreement with, it was claimed last night.

An investigation found that customers lost out on up to £500 a year in interest payments after being misled into thinking they were buying the best deal in the market.

In fact, Confused.com listed just ten savings accounts from the eight companies ‘it seems to have deals with’, instead of the best available, investigators from Channel 4’s Dispatches claimed.

Jun 08 20:15

Las Vegas Strip Club Recruiting High School Graduates

Marzullo says he is offering a way for young women 18 and older to make good money in a struggling economy. He says entertainers at his club make up to $1,000 a night and he has noticed more and more women turning to stripping to help with rising college costs.

Jun 08 20:10

6 Things That Could’ve Been Bought With The $1.5 Trillion The Government Spent Developing The F-35 Fighter Jet

With huge design flaws, the enormously expensive F-35 fighter jet is completely unsuitable for combat. Uncle Sam’s expenditure on this jet is just the latest astonishing example of out-of-control government spending. Here are some other things that could’ve been purchased with the $1.5 trillion that the F-35 cost to develop.

Jun 08 18:58

U.S. and World Economies Slowing Down?

According to a new report, the U.S. and world economic growth projected for the remainder of 2015 is expected to be lower than what was originally thought.

Jun 08 18:54

U.S. Car Sales Up in May

According to new reports, car sales in the U.S. were higher than expected in May due to Memorial Day promotions and a strong demand for SUVs.

Jun 08 18:48

Google Photo Storage Free, But is it Secure?

Google Photos, a new service of Google, rolled out recently as a free option for users to store and share photos. It's free to use, but it may not be the most secure option.

Jun 08 18:42

$15 Minimum Wage Approved in Los Angeles

The Los Angeles city council tentatively approved a $15 minimum wage at it’s meeting Wednesday. The wage will be increased up to $15 an hour by 2020.

Jun 08 18:42

Fewer Students are Going to College

While the strengthening economy and return of jobs is usually something to celebrate, it is likely the culprit behind declining college enrollment as more take their changes in the job market.

Jun 08 15:57

Bye Bye Middle Class: Billionaire Says Robots and Artificial Intelligence Will Wipe Out Jobs, Accelerate Wealth Gap

Rupert blasted the actions of “.1 percent of .1 percent,” or roughly the upper 7,000 individuals of the population, which paints with a narrower brush than the general class warfare slogans against the 1%, who instead make up an enormous 70 million people across the globe. Bloomberg reported:

“How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”

Read more at SHTFplan.com

Jun 08 15:00

FIFA Scandal Highlights Corruption in Global Financial System

The President of international soccer’s governing body, the Federation Internationale de Football Association (FIFA), is resigning amid corruption allegations. Sepp Blatter led FIFA for 17 years before resigning June 2 after winning re-election to another term as the organization’s leader. Just before his resignation, Swiss authorities arrested seven FIFA executives as part of an FBI probe that indicted 14 people on bribery and corruption charges. Twenty-six banks are named in the indictment, including major US firms such as Citigroup and JP Morgan Chase.

Jun 08 14:46

Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?

Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries that are being threatened in this manner include Italy and France. If you fast forward two months from this moment, that puts us in early August. So clearly the European Union wants everything to be squared away by the end of the summer. Is there a reason for this? Are they anticipating that something really bad will happen in September or thereafter? Why such a rush?

We all remember what happened when major banks were “bailed out” during the last financial crisis. A tremendous amount of taxpayer money was given to the big banks to help prop them up so they wouldn’t fail. This greatly upset a lot of people.

Jun 08 14:27

US states face wide budget deficits 6 years into economic recovery

Many American states are still facing significant budget deficits even though the US economy is in its sixth year of recovery from the Great Recession.

Dozens of states continue to face major funding gaps that have locked state legislatures in prolonged battles with governors, threatening major spending cuts and widespread government layoffs, The New York Times reports.

Jun 08 14:16

Los Angeles homeless population grew by 16 percent since 2013

According to a recent survey, the population of homeless people in the Los Angeles area has increased 16 percent since 2013, leading to the mushrooming growth of tent cities and other encampments.

Every two years, the Los Angeles Homeless Services Authority releases a count of the homeless population of Los Angeles County, excluding Long Beach, Pasadena and Glendale. This year’s count, taken in January 2015, jumped to 41,174, up from 35,524 in 2013.

Jun 08 14:15

Experts warn British govt. against further cuts to social care

A further £1bn in cuts to social care will hit thousands of Britons, experts say.

Over £1bn worth of funding will be taken from social care services in the next year alone, leaving thousands of elderly and disabled people unable to perform basic tasks such as dressing, eating and washing, council care bosses have warned.

Jun 08 13:51

Social Control in Europe: Virtual Jobs

As the economy in Europe festers the New York Times reports that the ranks of the Eurozone’s unemployed are finding solace in a curious parallel economy populated by thousands of counterfeit businesses known as “practice firms.”

Jun 08 13:51

Bilderberg 2015: Implementation of the A.I. Grid

By Jay Dyer

The plan to integrate nations into continental trading blocs is not a new idea. In Dr. Carroll Quigley’s Tragedy and Hope, reference is made to the plan of the Third Reich to create global trading blocs, which itself is an older British Royal Society plan. Daniel Estulin, in his The Bilderberg Group and Shadow Masters provides detailed investigations into both Bilderberg and its many-headed Hydra organization, exemplified in Captain America 2: Winter Soldier. Founded by Prince Bernhard of the Netherlands, as well as numerous other Atlanticist elites like David Rockefeller, Paul Van Zeeland and numerous other media barons, corporate heads, bankers, and countless other people better than us.

Jun 08 13:44

Obama Pushes for Fast-Track TTIP Deal as EU Opposition Grows

President Barack Obama is using side-meetings at the G7 talks in Germany to push his trade agenda to speed up the already slow negotiations over the controversial Transatlantic Trade and Investment Partnership (TTIP) in the face of increasing opposition on both sides of the Atlantic.

Jun 08 13:35

Greece told to strike a deal or face 'dramatic consequences'

Greece's creditors are losing patience with the country's uncompromising stance on its debt obligations, with the heads of the European Parliament and Commission calling on Alexis Tsipras's government to find common ground for a deal or face "dramatic consequences".

Jun 08 13:30

Yellen: Fed won't comply with House subpoena yet

Federal Reserve Chairwoman Janet Yellen told lawmakers Friday that the central bank will not fully comply with a congressional subpoena, saying it could jeopardize an ongoing criminal probe into a leak of sensitive information.

Webmaster's Commentary: 

Confirmation of Allen Greenspan's comment that the Federal Reserve answers to no government authority!

Jun 08 13:29

New York food banks running out of food: Report

Food banks across the US state of New York are running out of food, amid falling funds and rising demand from people that have trouble affording food.

Jun 08 13:28

An Economic Reason for the US vs. China Conflict

There are many reasons that the US is pushing on China in the South China Sea. Two articles have been published on Counterpunch in recent weeks exploring “why?” None mention an important economic reason that has, at least in part, motivated the US to go to war and is very much at stake in the growing dispute with China: the value of the dollar.

Jun 08 13:25

Why The American Middle Class Is Shrinking

Jun 08 13:11

LAND OF THE DEBT SERF – HOW “AUTO TITLE LOAN” COMPANIES ARE RUTHLESSLY PREYING ON AMERICA’S GROWING UNDERCLASS

Short-term lenders, seeking a detour around newly toughened restrictions on payday and other small loans, are pushing Americans to borrow more money than they often need by using their debt-free autos as collateral. Their hefty principal and high interest rates are creating another avenue that traps unwary consumers in a cycle of debt. For about 1 out of 9 borrowers, the loan ends with their vehicles being repossessed…

Jun 08 13:10

The Topless Dancer, Slavery and the Origins of Capitalism

In the middle of May, I blogged an excerpt from an unpublished comic book memoir I did with Harvey Pekar in 2008. It covered my experience in Houston in the mid-seventies, part of which involved an affair with a comrade who had been dancing in Montrose just before I arrived, a neighborhood that mixed bohemia, gay and topless bars, and apartment complexes geared to swingers in double-knit suits.

Jun 08 12:47

The Economic Consequences of Austerity

On 5 June 1919, John Maynard Keynes wrote to the prime minister of Britain, David Lloyd George, “I ought to let you know that on Saturday I am slipping away from this scene of nightmare. I can do no more good here.” Thus ended Keynes’s role as the official representative of the British Treasury at the Paris Peace Conference. It liberated Keynes from complicity in the Treaty of Versailles (to be signed later that month), which he detested.

Jun 08 12:23

Looming rental crisis in the United States

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