ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 06 10:04

Southern California braces for summer blackouts due to Porter Ranch gas leak

ate officials warn that Southern California could face as many as 14 days of scheduled blackouts this summer because of depleted reserves of natural gas caused by the massive leak in Aliso Canyon.

The canyon in the hills above Porter Ranch is a crucial gas storage facility, supplying 17 power plants in the Los Angeles Basin. But the four-month leak that began in October left the facility at one-fifth of its capacity and new injections of gas have been prohibited until all of its wells have passed comprehensive tests.

Officials estimate the storage facility won’t be back on line for months, leaving local power plants without a key source of natural gas.

Webmaster's Commentary: 

This is a classic example of what happens when infrastructure maintenance is ignored over a long period of time; the ensuing problems become far harder, and far more costly to fix.

Apr 06 08:32

The Panama Papers: This Is The Consequence Of Centralized Money And Power

Increasing concentrations of wealth and power that are free of any constraint (such as taxes) is not just the consequence of centralized money and state power--this inequality is the only possible output of centralized money and state power. The Panama Papers offer damning proof of this. Here is a graphic portrayal of just how concentrated global wealth really is: the top .7% (less than 1%) own 45% of all global wealth, and the top 8% own 85%.

Apr 06 08:09

Homeless Man Owes Government Over $110,000 In Fines For Being Homeless

The recent case of a homeless man racking up massive fines has exposed the widespread police practice of fining homeless people for being homeless.

Émilie Guimond-Bélanger, a social worker at the Droits Devant legal clinic in Montreal spoke to the media about a case that she worked on where a homeless man racked up over $110,000 in tickets.

Webmaster's Commentary: 

Somehow, I don't think that is going to solve the problem.

Apr 06 07:46

ROTHSCHILD AND CIA LINK TO PANAMA PAPERS PSY-OP

The Panama Papers psy-op will encourage the elite to move their money to the USA.

Rothschild has a trust company in Reno, Nevada.

Rothschild has been moving the elite's money out of offshore havens such as Bermuda, which are subject to the new international disclosure requirements, and into Rothschild-run trusts in Nevada, which are exempt.

Trident Trust Co., one of the world's biggest providers of offshore trusts, has moved accounts out of Switzerland, Grand Cayman, and other such places and into Sioux Falls, South Dakota.

Apr 06 07:42

Perth Mint Silver Coins Have Second Highest Monthly Demand

The Perth Mint’s sales of silver coins and especially Silver Kangaroos surged again in March and saw the second highest levels of silver coin demand on record as silver buyers in the western world continue to accumulate silver at what they believe to be depressed silver prices.

Apr 06 07:37

CA And NY Workers To Earn $15 Minimum Wage, Will US Economy Suffer?

PERI economist Jeanette Wicks-Lim debunks myths that raising the minimum wage will lead to job loss and higher prices for consumers.

Apr 06 06:55

Donald Trump: Massive Recession Coming—Americans Already Feel It

Presidential hopeful Donald Trump predicted the U.S. economy was on the verge of a very massive recession. Trump cited high unemployment and an overvalued stock market as two main factors that will lead the U.S. into a recession. While his recessionary forecast took mainstream economists off-guard, I doubt his economic revelations were a surprise to the average American.

Apr 05 19:13

The Panama Papers Reveal The “Big Global Problem”

Op-Ed by John Galt

The largest data leak in history has people in a tizzy. Virtual lynch mobs are calling for the heads of all those who have appeared in various infographics documenting their supposedly-possibly-disturbing connections to suggested nefarious dealings … by associates, family members and childhood friends in many cases.

By extension, knowingly or not, these lynch mobs have quickly called on government to rein in anyone who might use a legal vehicle (for now) to protect their wealth.

I’d like to put aside the questions that have been legitimately raised about the geopolitical implications of who has been revealed, or questions about whether these alleged crimes are equal to what some of these individuals really could stand trial for, and focus instead on the reaction from the general public...

Apr 05 17:27

Bitcoin & Gold Scare Establishment BIG Time

Apr 05 17:01

How Obamacare Just Made Filing Your Taxes Worse

That is money many families just don’t have. According to December 2015 estimates from the Kaiser Family Foundation, the average household without compliant coverage faces $661 in tax penalties for 2015, rising to $969 for 2016. The penalties are even higher for those not eligible to receive premium subsidies under the law: $1,177 for 2015, rising to $1,450 this year. While some will be exempt, millions of families and individuals will be penalized for not purchasing health insurance they cannot afford.

Apr 05 16:26

Insulin cost in U.S. have more than doubled

Apr 05 15:35

Clinton Opposes Transferring Government’s Costs More Onto Rich People

Hillary Clinton opposes fixing Social Security by taxing rich people more; she wants it to be done by cutting benefits to the recipients.

In 2008, Barack Obama said that he would consider eliminating the cap on Social Security taxes that blocks income above $97,000/year from being SS-taxed. The argument for that cap has been that above that income-level, the person is too rich to be included in either the benefits or the costs of the SS system.

Apr 05 15:31

Yanis Varoufakis Issues A Major Warning To The Greek People

"...no matter who comes out ahead in this dispute (the IMF or the EU), it will be the Greek people who lose.."

Apr 05 15:20

Panama Papers Hack: 11 Million Documents Reveal Decades of Elite Money Laundering and Tax Dodging

What’s interesting is that all the people “outed” by this hack so far appear to be foes of the American government, such as Russian President Vladmir Putin, former Egyptian President Hosni Mubarak who was ousted after a U.S. regime change, former Libyan leader lynched during a U.S. regime change mission Muammar Gaddafi, and Syrian President Bashar al-Assad, the current target of a U.S. regime change mission.

In fact, Russian diplomat Dmitry Peskov has openly accused the U.S. State Department and CIA as being behind this.

(read more)

Apr 05 15:06

The 8 most important things to read to understand the Panama Papers document leak

"How ironic—no, how perverse—that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour," wrote Peter A. Cotorceanu, a lawyer at Anaford AG, a Zurich law firm, in a recent legal journal. "That ‘giant sucking sound’ you hear? It is the sound of money rushing to the USA."

Webmaster's Commentary: 

"Hey, we NEED that money to keep our Ponzi-scheme banking system afloat for another ... couple weeks." -- Official White Horse Souse

Apr 05 14:50

Robert Kiyosaki And Harry Dent Warn That Financial Armageddon Is Imminent

Sadly, just like we saw in 2008, most Americans are ignoring the warnings. The mainstream media has conditioned the public to trust them, and right now the mainstream media is insisting that everything is going to be just fine.

Apr 05 14:25

Organic Operations Up 12% In The US

Apr 05 14:17

While Clinton Backed 2011 Trade Deal, Sanders Foresaw Panama Papers Fiasco

'Panama is a world leader when it comes to allowing wealthy Americans and large corporations to evade US taxes,' Sanders told Congress in 2011.

Apr 05 14:12

Panama Papers: The Shadow Economy Exposed!

Apr 05 14:05

Economy may not have grown at all in first quarter

It may turn out the economy did not grow at all in the first quarter. Trade data released Tuesday show the U.S. deficit widened more than expected to $47.1 billion in February and was a bigger drag on growth than expected. It’s the latest economic metric that chiseled away at the tracking model for first quarter growth.

Apr 05 13:50

HSBC, Coutts & Rothschild: British Banks Help The 1% Evade Tax, #PanamaPapers Suggest

Big British banks have allegedly been helping the rich and powerful ferret away their wealth beyond the taxman’s reach for decades, according to explosive revelations in the Panama Papers.

Apr 05 13:23

Military Industrial Complex: British Army Teams Up With Big Business To Swell Ranks

With recruitment in crisis, the British Army is teaming up with private firms to encourage their workers to join the Armed Forces’ “woefully undermanned” reserves.

Apr 05 12:53

FLASHBACK - The World’s Favorite New Tax Haven Is the United States

Last September, at a law firm overlooking San Francisco Bay, Andrew Penney, a managing director at Rothschild & Co., gave a talk on how the world’s wealthy elite can avoid paying taxes.

His message was clear: You can help your clients move their fortunes to the United States, free of taxes and hidden from their governments.

Some are calling it the new Switzerland.

Apr 05 12:10

Is Market Breadth Beginning To Sour?

Apr 05 11:27

How global banks help the wealthy hide assets

The leaked files suggest that the U.S. criminal investigation of UBS and other banks, starting in 2009, helped slow — but not end — banks’ use of the offshore companies. Some banks unloaded companies onto offshore middlemen but continued to offer banking services to customers through the offshore companies. And there are other adaptations.

Apr 05 11:23

‘Panama Papers’ Leak Being Called “the Wikileaks of the Mega-Rich”

This weekend an enormous trove of 11.5 million internal documents were leaked from Panamanian law firm Mossack Fonseca. The documents show the network of offshore companies that help hundreds of thousands of uber-rich individuals hide their assets.

Immediately, progressive news outlets began covering the leak:

The Panama Papers illustrate how the world’s powerful co-opt corrupt legal systems to serve their interests. https://t.co/IS2zKbNdH3

— The Intercept (@the_intercept) April 4, 2016

Mossak Fonseca is the fourth-largest of its kind worldwide. Its purpose is to create shell corporations, basically paper-only companies that are legally able to hold and transfer assets in one country for their owners in distant countries. Paid agents in the country where the shell company is created take care of all transactions so that the actual owners can stay secret. All of this is to exploit international tax law loops.

Apr 05 11:10

Central bankers suppressing gold markets?

Apr 05 11:00

TOON OF THE DAY ~~ #PanamaPapers

And of course, Israel is involved ….

Apr 05 10:56

Lost faith in central banks and the economic end game

The only explanation that makes sense in terms of the Fed allowing an incremental removal of support from U.S. markets is that their goal is to create instability. The jawboning and false hopes act as a kind of steam valve, slowing the crash to a manageable pace.

Apr 05 10:53

This Shows Why Consumers Are Bogged Down

Apr 05 10:16

Industry experts agree: Gold has bottomed

Apr 05 10:13

$120 Oil As Soon As 2018?

Despite the technical nature of this discussion, I think I can make a strong case for $120 oil in 2018 using only two charts of my own making – one charting global demand, which is more universally agreed upon, and then an overlay of global production, which is more open to prediction. First, demand: Almost all analysts including the EIA and IEA agree that demand continues to grow at a steady pace throughout the rest of the decade, and even a minor economic downturn will only slow the pace of growth (green line), but not upend the upward trend line of demand. Sorry to those environmentalists who pray for an end to carbon use growth in the next decade – virtually no one currently believes it will happen...
http://russia-insider.com/en/daily-ticker-all-news-thats-fit-link-apri...

Apr 05 09:49

Panama Papers: Iceland's PM resigns over offshore tax haven revelations

Iceland's embattled Prime Minister Sigmundur David Gunlaugsson has resigned amid a scandal related to his offshore financial dealings revealed in the Panama Papers, according to the Icelandic public broadcaster.

Webmaster's Commentary: 

"THAT'LL teach you to toss bankers in prison!!!!" -- Money Junkies

Apr 05 09:30

In 20 Words The ECB Explains The Business Model Of Every Central Bank

"Central banks are protected from insolvency due to their ability to create money and can therefore operate with negative equity."

Apr 05 08:31

The Lock Down Has Begun: JP Morgan Restricts ATM Cash Withdrawals

After the massive bailouts required to save the system following the crash of 2008 banks and regulators worked together to ensure that all deposit accounts in the United States are no longer the property of depositors, but rather, the banks themselves.

Apr 05 08:23

Fort Knox Paradox

Question: If the Bullion Depository still contains over 147 million ounces of gold, why not audit it, prove the existence of the gold, and eliminate speculation? The US government spends over $70 billion on “food stamps” every year and nearly a $Trillion per year on “defense,” so cost is not the issue.

Apr 05 08:12

Fed Sees Labor Market Worst Since 2009

Cast your mind back to Friday - when payrolls confirmed everything for everyone and enabled more crowing from an establishment clinging to smoke and mirrors. It appears The Fed disagrees with the 'awesome' jobs market that BLS proposes as today's Labor Market Conditions Index continues to push to its weakest since 2009, drastically divergent from the seemingly all-impotrant non-farm payrolls data.

The 19-factor labor market conditions index developed by The Fed is not singing from the same Koombaya "everything is awesome" hymn-sheet that The White House would prefer...

Apr 05 08:11

One Junk Bond Analyst's Catastrophic Forecast For What Is Coming

While not as quixotic as Morgan Stanley's Adam Parker piece on market-chasing cockroaches, BofA high yield analyst Michael Contopoulos has moved beyond merely bearish and is now outright catastrophic . That may be a little far fetched, but in his latest note - while he doesn't call rally chasers "cockroaches" (yet), he seems at a loss to explain the ongoing junk bond rally. His reasoning: fundamentals just keep getting worse by the day, while price action has completely disconnected from reality, and virtually nobody expects what is about to unfold in the junk bond space.

Apr 05 08:06

Banks Are Terrified (The Future of Money)

To say that the future of money is blockchain-based crypto-currencies and payment platforms is to state the obvious nowadays. If this wasn’t the case, then why are Goldman Sachs et al. (i.e. the global too big to fail banks) rushing to patent their own proprietary versions of blockchain technologies? Why are banks investing heavily in companies that are trying to establish a global blockchain platform for banks?

Apr 05 07:40

Yanis Varoufakis Issues a Major Warning to the Greek People

Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the program – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.

Apr 05 07:21

Paul Ryan Just Now Realized He Was Ignorant About Poverty

From the lips of Paul Ryan, Chief Spokesman of Blame-the-Poor politics, came a curious mea culpa just last week: He should not have referred to hard-working Americans trying to feed their families as “takers.” Oops! (Mitt Romney gained attention for similar remarks in 2012, but his running mate Ryan had already been on the makers/takers theme for years.) Ryan further admitted that when it comes to economic distress, he didn’t really know what he was talking about.

Apr 05 07:20

The US Becoming World Tax Haven? Michael Rivero - April 4, 2016

Apr 05 06:37

In a nutshell: NATO chief vows to make US allies ramp up defense bills citing ‘Russian aggression’

Following a meeting with US President Obama, NATO Secretary-General Jens Stoltenberg lauded the block’s “biggest reinforcement since Cold War,” promising European members will step up defense spending, while listing an “assertive Russia” among the alliance’s chief threats.

Apr 05 06:36

Putin and The Wealthy In 11million leaked documents On How The Rich Hide Money. But Rothschilds and NWO Members Not On List

In this episode of the Keiser Report Max and Stacy discuss the curious case of Putin’s photo being used to sell #panamapapers when his name is allegedly not even mentioned in the 11 million pages of documents; and they look at #WikiGreeks as someone leaks the transcript of a conversation between IMF officials hoping for a ‘credit event’ to ‘resolve’ the ongoing Greek tragedy.

Apr 05 06:31

The Zionist Matrix of Power - Full Documentary

Webmaster's Commentary: 

This is a very long documentary, but you may want to bookmark it for later!

Apr 05 06:23

Mossack Fonseca Has 441 U.S. Clients: Who Are They?

As the shock from the initial revelation of leaked Mossack Fonseca files fades away, one recurring question has emerged: why were there no American clients of the firm named (at least not yet)? After all, leaders in Iceland, Russia, Ukraine, Brazil, Australia and many other nations are already facing questions about their use of the Panamanian law firm, and yet nothing about the US?

One hint may have emerged when observing at the funding supporters of the project, among which we find George Soros' heavily financially connected Open Society:

Clearly, this would imply editorial intervention by the funding sources due to a potential "conflict of interest", although hopefully not as that would undermine the objective nature of this massive journalistic undertaking.

Apr 05 06:16

QE: DOLLAR'S DEATH SENTENCE | Jim Willie

Apr 05 05:59

In 'Panama Papers', The Guardian Finds Imaginary Putin Link to Offshore Deals

Neither of his articles mentions by name any of the 12 world leaders, past and present, actually identified in the documents, nor do they mention David Cameron’s dad, who is also in there. No, they focus on a cellist friend of Putin’s, talk about his daughter’s marriage, and include an awful lot of diagrams with big arrows that point at pictures of…Vladimir Putin. This is, apparently, all evidence of…something.

…I’m not sure what, but it will probably be discussed at length in the “book” Luke Harding is probably planning to publish in a couple of weeks. That’s if the NSA don’t delete it all while he’s typing.

The only important, or even true, phrase Harding uses appears at the very top of this article:

…the president’s name does not appear in any of the records…

Apr 05 04:43

600 ISRAELI COMPANIES, 850 SHAREHOLDERS LISTED IN PANAMA DATA LEAK

Some 600 Israeli companies and 850 Israeli shareholders are listed in the 11.5 million documents leaked from a Panamanian law firm detailing offshore dealings. The trove was published Sunday after a year-long investigation into the material. According to the probe by the International Consortium of Investigative Journalists (ICIJ) with the German daily Sueddeutsche Zeitung and other media, including Haaretz, the leaked data from Mossack Fonseca, from 1975 to the end of last year, provides what the ICIJ described as a “never-before-seen view inside the offshore world.”

Apr 05 02:01

This Map Shows Rising Gas Prices In Your State

Gasoline prices have risen to a national average of $2.04 a gallon, according to a report published recently by the American Automobile Association.

Apr 05 02:00

Wall Street opens lower as oil prices fall

U.S. stocks opened slightly lower as oil prices touched a month-low on Monday as investors expressed scepticism over top exporters reaching an agreement to limit production.

The Dow Jones industrial average was down 18.08 points, or 0.1 percent, at 17,774.67,
The S&P 500 was down 1.55 points, or 0.07 percent, at 2,071.23
The Nasdaq composite was down 2.71 points, or 0.06 percent, at 4,911.83.

Apr 04 22:00

600 Israeli companies, 850 shareholders listed in Panama data leak

Some 600 Israeli companies and 850 Israeli shareholders are listed in the 11.5 million documents leaked from a Panamanian law firm detailing offshore dealings. The trove was published Sunday after a year-long investigation into the material. According to the probe by the International Consortium of Investigative Journalists (ICIJ) with the German daily Sueddeutsche Zeitung and other media, including Haaretz, the leaked data from Mossack Fonseca, from 1975 to the end of last year, provides what the ICIJ described as a “never-before-seen view inside the offshore world.”

Apr 04 17:40

Panama Papers: Obama, Clinton Pushed Trade Deal Amid Warnings It Would Make Money Laundering, Tax Evasion Worse

Years before more than a hundred media outlets around the world released stories Sunday exposing a massive network of global tax evasion detailed in the so-called Panama Papers, U.S. President Barack Obama and then-Secretary of State Hillary Clinton pushed for a Bush administration-negotiated free trade agreement that watchdogs warned would only make the situation worse.

Apr 04 16:41

Bernie Sanders: Breadlines are a Good Thing

Apr 04 15:42

Millions of younger workers to be 'worse off' under new state pension

More than 11 million workers now in their 20s and 30s will end up worse off as a result of reforms to the state pension, a think tank has said.

The Pensions Policy Institute (PPI) has calculated that the vast majority of younger people will get less out of the new system than the old one.

Apr 04 15:31

Eggs Fly in Iceland as Panama Papers Spark Populist Anger in the Streets

Capitalism could face crisis of credibility as leaked documents illuminate global rules rigged for the rich and powerful

Apr 04 15:31

NO NEED FOR NATION’S TOP CHOCOLATE COMPANIES TO DISCLOSE USE OF CHILD SLAVE LABOR, RULES JUDGE

A federal judge ruled that the nation's largest chocolate companies have no duty to disclose that their cocoa suppliers use child slave labor.

Apr 04 15:05

Currency Wars, Corruption, and Volatility Will (Eventually) Cause the Next Big Bull Market

Impeachments, currency wars, and volatility are now the new normal… and they will eventually usher in a new bull market in gold.

Take, for example, Brazil — the world’s fifth most populous country and eighth-largest economy. Its second-largest city, Rio de Janeiro, is the host of this year’s Summer Olympics.

Apr 04 15:03

Follow the money: inside the world's tax havens

Do you celebrate Christmas? If you do (or even if you do not), did you buy any gifts on Amazon last December? If so, then your goods were quite likely to have been routed through a byzantine world hosted – only on paper, you understand – by the Grand Duchy of Luxembourg, where Amazon has located its European headquarters, slashing its tax bills around the world. In 2011, Amazon revealed that the US Internal Revenue Service was chasing it for $1.5bn in back taxes. More recently, Amazon has said it will stop routing its UK sales through Luxembourg.

Perhaps you shun Amazon. You buy only local products: good for you. But did you search for any gifts online? Did a company called Google play any role in this? In 2011, Google shuffled four-fifths of its profits through a subsidiary in the tax haven of Bermuda, cutting its worldwide tax rate in half and its tax rate in some countries to nearly zero.

Apr 04 15:03

Illinois on the Brink of Bankruptcy

Apr 04 15:02

Is The Next Taxpayer Bailout The Coal Industry?

Eight years after we bailed the big banks to the tune of $14 trillion, US taxpayers could soon be on the hook again — this time to help out the coal industry.

Just a few years ago, Big Coal was riding high on the crest of a nice little boom. Energy prices were high, as was demand from China’s rising economy.

Apr 04 14:29

Leona Helmsley Quotes

"We don't pay taxes. Only the little people pay taxes." -- Leona Helmsley

Apr 04 13:20

What I Learned From the Panama Papers

Apr 04 13:17

Retail job cuts spike 41% in Q1

Apr 04 13:06

30% of bank jobs are under threat

Apr 04 12:54

Currency Wars, Corruption, And Volatility Will (Eventually) Cause The Next Big Bull Market

Impeachments, currency wars, and volatility are now the new normal… and they will eventually usher in a new bull market in gold.

Take, for example, Brazil — the world’s fifth most populous country and eighth-largest economy. Its second-largest city, Rio de Janeiro, is the host of this year’s Summer Olympics.

Apr 04 12:36

Mr. Wall Street (A.K.A. Ted Cruz)

The bank bailed out by U.S. taxpayers paid Hillary $675,000 for a speech. They also made a secret sweetheart loan to Ted Cruz’s U.S. Senate campaign. So in a Clinton-Cruz race the folks on Wall Street win either way.

Apr 04 12:15

Hancock Fabrics stores closing nationwide

Hancock Fabrics stores will close its remaining 185 stores nationwide after filing for bankruptcy protection earlier this year.

Apr 04 11:08

Manufacturing Recession Deepens: Factory Orders Drop To Five Year Low; 16 Consecutive Declines

In 60 years, the US economy has not suffered a 16-month continuous YoY drop in Factory orders without being in recession. Moments ago the Department of Commerce confirmed that this is precisely what the US economy did, when factory orders not only dropped for the 16th consecutive month Y/Y, after declining 1.7% from last month...

... but at $454 billion for the headline number, this was the lowest print since the summer of 2011.

Webmaster's Commentary: 

These are lousy numbers, and this contraction is a dangerous direction for the US economy.

Apr 04 10:43

A historian explains why Bernie Sanders is right about the 1933 Glass-Steagall Act

Both Hillary Clinton and Bernie Sanders are talking tough about Wall Street reform. But only Bernie Sanders is advocating a reprise of the 1933 Glass-Steagall Act, specifically that section of the Depression-era act that had prohibited commercial banks and investment banks from operating under the same roof. Sanders believes that the repeal of Glass-Steagall in 1999 led to the formation of banks that became “too big to fail,” contributed to the financial crisis in 2008—and will lead to another crisis without corrective legislation.

Apr 04 10:00

“Can we just remind ourselves that the Panama Papers are from just ONE law firm, in just ONE tax haven. Tip of the proverbial iceberg.”

Apr 04 09:54

No US Names in Panama Papers Leak- Why Not?

Making matters worse for Americans wanting to store their ill-gotten gains offshore, the 2010 United States—Panama Trade Promotion Agreement included a taxation clause that effectively shut down any chance of the rich in the US using Panama as a shelter.

Apr 04 09:43

Poroshenko: US has reiterated commitment to extend $335mln to enhance Ukraine’s security

The United States has reiterated its commitment to extend a sum of 335 million U.S. dollars to Ukraine to enhance its defense and security system, Ukrainian President Petro Poroshenko said on Sunday.
"The sum of 335 million U.S. dollars will go to finance the defense and security sector, to purchase new equipment and weapons, to train personnel," he told Ukrainian journalists after his visit to Washington.

Webmaster's Commentary: 

So, let me get this straight; at a point in time when the US government is drowning in debt (19 trillion dollars that we know of); when homeless Vets are sleeping in our streets, and the American infrastructure is crumbling, the US government is ready to shell out three hundred thirty five million dollars to this tin pot dictator, which will most assuredly line his, or his cronies' pockets, and not see one piece of good happen for the Ukrainian people?!?

IF in fact what Poroshenko is saying is true, it is yet one more assault on We the People by a US government gone collectively barking mad.

Apr 04 09:39

Avoid putting your money in these banks

Apr 04 09:27

Watchdog: Pay-or-go-to-jail policy makes probation officers bill collectors

Houston Miller hustles to the exit door of the Bell County adult probation department, his blond ponytail flopping halfway down his back.

The 19-year-old must get to his new $8-an-hour shipping clerk job so he can pay $1,800 in fines, fees and court costs. He got busted with a pinch of pot.

“How will you pay that?” I ask when I catch up with him.

“Working Monday through Friday — and maybe overtime,” he answers.

Explaining his rush, he says, “I gotta pay $400 by the end of the month. I was under the impression that if I don’t pay, if you miss a payment, they can send you to jail for it.”

They’re not supposed to. That’s why I’m in Bell County, near the center of Texas.

Webmaster's Commentary: 

How sweetly naive of the person at Justice who wrote this letter; they still believe that there is trust by Americans in the justice system!!

Apr 04 08:33

Financial Oversight And Colonialism In Puerto Rico

118 years after U.S. troops landed at Guánica, Puerto Rico, the liberal political site the New Republic asks, “Why Are We Colonizing Puerto Rico?” The occasion for this comically tardy acknowledgment of Puerto Rico’s colonial status is a Republican proposal to deal with the island’s $72 billion debt problem by allowing a cabal of unelected technocrats to carry out austerity measures against the will of the Puerto Rican people. Or, as the bill puts it: “To establish an Oversight Board to assist the Government of Puerto Rico … in managing its public finances.”

Apr 04 08:31

Q1 Ends With A Bang, What’s Next? 04-01-16

Apr 04 08:09

WikiLeaks Exposes IMF Plan of Financial Terror to Force Government Compliance

By Jay Syrmopoulos

WikiLeaks has once again exposed how supranational organizations create artificial crises in an effort to advance the Western corporate-political elites geostrategic goals, as revealed in the transcript of a teleconference, which took place on March 19, 2016, between top International Monetary Fund (IMF) officials.

The striking conversation reveals IMF officials implying that the threat of an imminent financial disaster was necessary to force other stakeholders into accepting the IMF’s “measures” such as cutting Greek pensions and working conditions...

Apr 04 07:57

The Real Reason Why Gaddafi Was Killed

Apr 04 07:56

THE BOOMER RETIREMENT MEME IS A BIG LIE

As the labor participation rate and employment to population ratio linger near three decade lows, the mouthpieces for the establishment continue to perpetuate the Big Lie this is solely due to the retirement of Boomers. It’s their storyline and they’ll stick to it, no matter what the facts show to be the truth. Even CNBC lackeys, government apparatchiks, and Ivy League educated Keynesian economists should be able to admit that people between the ages of 25 and 54 should be working, unless they are home raising children.

Apr 04 07:44

Defiant China slaps steel tariffs on Britain as trade war looms

China has thrown down the gauntlet in an escalating trade war over the global steel glut, imposing punitive tariffs of 46pc on hi-tech steel produced in Britain and the rest of the European Union.

The astonishing move came as the Prime Minister, David Cameron, confronted the Chinese leader Xi Jinping at a meeting in Washington, pleading for action to slow the flood of Chinese steel exports reaching Europe.

Apr 04 07:34

Panama Papers: Tax office investigating 800 Australians identified in financial record leak

The Australian Tax Office (ATO) is investigating 800 Australian residents named in a massive leak of tax and financial records known as the Panama Papers.

The ABC has identified more than 1,000 Australian links in the data, which contains personal details including copies of the passports of hundreds of Australians.

Apr 04 07:29

Giant Leak of Offshore Financial Records Exposes Global Array of Crime and Corruption

Files reveal the offshore holdings of 140 politicians and public officials from around the world

Current and former world leaders in the data include prime ministers of Iceland and Pakistan, the president of Ukraine, and the king of Saudi Arabia

More than 214,000 offshore entities appear in the leak, connected to people in more than 200 countries and territories

Major banks have driven the creation of hard-to-trace companies in offshore havens

Apr 04 07:23

The Next Big Trend: Farming In Your Supermarket

By Brianna Blaschke

Tiny vertical farms are making a huge impact on the future of sustainable agriculture.

INFARM is revolutionizing the world of fresh grocery shopping with the introduction of minuscule vertical farms in supermarkets. Not only do these farms display the produce, but they actually grow crops in-house...

Apr 04 07:15

IMF Tries To Put Out Fire From Bombshell Greece Leak, But Doesn’t Apologize

The International Monetary Fund’s managing director told Greek prime minister Alexis Tsipras on Sunday that the IMF remains committed to good faith negotiations, trying to assuage concerns raised by a Saturday leak.

Christine Lagarde dismissed the possibility the IMF would use underhanded tactics to pressure Greece in the letter, which was also posted on the IMF’s website.

The Huffington Post first reported on Saturday that Tsipras had asked Lagarde whether Greece could “trust” the IMF in light of leaked remarks by IMF officials suggesting that a crisis-inducing “event” was necessary to get Greece to comply with IMF austerity requests.

Webmaster's Commentary: 

"When the world around the IMF goes downhill, we thrive. We become extremely active because we lend money, we earn interest and charges and all the rest of it, and the institution does well. When the world goes well and we’ve had years of growth, as was the case back in 2006 and 2007, the IMF doesn’t do so well both financially and otherwise." -- Chrstine Lagarde

Apr 04 07:07

No wonder we've stopped saving - this year's cash Isa rates are so derisory, the banks are embarrassed to advertise them...

There’s an innocent-sounding phrase that should get savers' alarm bells ringing: ‘ask in branch for details’.

It used to be that banks would trumpet their Isa rates. They’d boast of them in newspaper and online adverts and on posters in bank branch windows (back when there were bank branches).

But this year rates are so pitiful that it seems even providers are embarrassed to admit them. The poster below, currently pinned up in Post Office branches, is typical.

So far gone are the days of posters with massive percentage signs that this one doesn’t even mention the available interest rates in the small print. Only if you ask specifically will they admit what rates they’re offering.

Apr 04 06:34

Alaska Air Agrees to Buy Virgin America for $2.6 Billion

Alaska Air Group Inc. agreed to buy Virgin America Inc. for $2.6 billion, overcoming interest in the Richard Branson-backed carrier from JetBlue Airways Corp. to secure a deal that bolsters its main West Coast business while opening up key airports in New York and Washington.

Alaska Air will pay $57 a share for Virgin America stock, with the deal worth about $4 billion including debt and capitalized aircraft operating leases, the Seattle-based company said Monday.

“We’ve been thinking about an acquisition for a couple of years,” Alaska Chief Executive Officer Brad Tilden said on a conference call. “We’re confident in our ability to do well with this.” The company secured the deal after a “hard fought competition,” he added.

Apr 04 06:32

Death by overwork on rise among Japan’s vulnerable workers

Japan is witnessing a record number of compensation claims related to death from overwork, or karoshi, a phenomenon previously associated with the long-suffering salaryman that is increasingly afflicting young and female employees.

Labor demand, with 1.28 jobs per applicant, is the highest since 1991, which should help Prime Minister Shinzo Abe draw more people into the workforce to counter the effect of a shrinking population, but lax enforcement of labor laws means some businesses are simply squeezing more out of employees, sometimes with tragic consequences.

Claims for compensation for karoshi rose to a record high of 1,456 in the year ending in March 2015, according to labor ministry data, with cases concentrated in health care, social services, shipping and construction, which are all facing chronic worker shortages.

Apr 04 06:27

10 things we've learnt from the leaked Panama Papers

The hidden wealth of some of the world’s most prominent leaders, politicians and celebrities has been revealed by an unprecedented leak of millions of documents that show some of the ways in which the rich can exploit secretive offshore tax regimes.

Dubbed the Panama Files, the 11 million documents were leaked from a Panamanian law firm called Mossack Fonseca.

They show how the company has helped clients launder money, dodge sanctions and evade tax.

The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.

Webmaster's Commentary: 

So far, western reporting of this scandal has been limited to reports on the US' enemies' activities, but there is silence for the US' friends, and especially for US politicians!

Apr 03 16:47

New York, California Reach Deals To Raise Minimum Wage To $15 Per Hour

New York and California lawmakers have raised their state’s minimum wages to $15 an hour, but specifics in the laws as to how and where workers will be affected reveal what compromises may be necessary for other states trying to do the same thing.

Apr 03 16:05

Growth Is Useless Without Equal Economic Distribution

Robert Pollin of PERI challenges Paul Krugman's assertion that Sanders' economic proposals are unrealistic and questions conventional wisdom on economic growth.

Apr 03 15:49

How gold could reach $8,000 per ounce...

Apr 03 15:35

THE DISTRIBUTION OF WEALTH IN AMERICA: CONSEQUENCES, CAUSES, AND REMEDIES (4a of 5)

*hyperlinks live at source*

By guest author, diogenes (bio below).

PART 1: THE DISTRIBUTION OF WEALTH IN AMERICA

PART 2: WALL STREET CUSTOMS: ECONOMIC BULLYING, LEGALIZED AND LAWLESS

PART 3.1-3.4: OLIGARCH’S PROGRESS

PART 3.5-3.8: OLIGARCH’S PROGRESS: TRAIL OF TEARS

PART 4.1-4.2: AMERICAN PROGRESSIVE TRADITION: IDEAS, POLICIES, METHODS, PROGRAMS (this article)

Ideas [4.1]

Apr 03 14:34

America’s Best-Paid Jobs In 2016

Apr 03 13:14

Lowest G20 GDP growth, 2016.

Apr 03 10:30

ANYONE NOTICE THE 22% INCREASE IN GAS PRICES?

Apr 03 10:28

Drug War is Crumbling: Town Converts Prison into Cannabis Grow Facility

By Justin Gardner

In our fight to end the drug war, there may be no greater symbolism than a prison being turned into a cannabis grow facility. That is likely to happen in Coalinga, where the city council voted 4-1 in favor of an ordinance to allow commercial cannabis cultivation at the empty Claremont Custody Center.

They also voted for ballot initiatives to let the citizens decide if the town should host cannabis dispensaries, and if all these operations should be taxed. Coalinga stands to join its fellow California town, Adelanto, in restoring freedom and medical advancement, as well as generating revenue...

Apr 03 09:59

Tax authorities to monitor Greeks’ bank accounts across the EU

Greece’s tax authorities will soon be able to monitor all bank accounts that Greek taxpayers have within the European Union, according to a draft law currently being discussed by Parliament’s Financial Affairs Committee. Finance Ministry officials are introducing the clauses on the automatic exchange of bank account information, which will effectively allow them direct access to all deposits of local taxpayers within the bloc, with the aim of combating cross-border fraud and tax evasion.

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