ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 06 05:36

$1 In Economic Growth Now Takes $4 In Debt

Aug 06 00:32

The Cost of Nukes

Aug 05 21:56

Greek Banks Plunge 64% In Three Days

Aug 05 21:45

Global Oil Supply More Fragile Than You Think

Aug 05 21:39

Life on the Layaway Plan: We’re All Greek Now

Is modern economics one big Ponzi game, where the debt of today is continuously postponed beyond any ultimate day of reckoning? The European debt crisis may have been temporarily managed with a quick-fix German bailout of Greek insolvency, but does anyone really think that a country with a GNP of $X can repay almost $2X after its economy has shrunk by 25% (insert current value of X = 240 billion for Greece)? I have some swamp land in Florida if you do.

Aug 05 19:56

ALL WARS ARE BANKERS' WARS!

"Banking was conceived in iniquity and was born in sin. The Bankers own the Earth. Take it away from them, but leave them the power to create deposits, and with the flick of a pen they will create enough deposits to buy it back again. However, take it away from them, and all the fortunes like mine will disappear, and they ought to disappear, for this world would be a happier and better world to live in. But if you wish to remain slaves of the Bankers and pay for the cost of your own slavery, let them continue to create deposits." -- Sir Josiah Stamp, President of the Bank of England in the 1920s, the second richest man in Britain

Webmaster's Commentary: 

Posted for the listeners of the Vinny Eastwood show in New Zealand.

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Aug 05 19:11

Global Derivatives: $1.5 Quadrillion Time Bomb

When investing becomes gambling, bad endings follow. The next credit crunch could make 2008-09 look mild by comparison. Bank of International Settlements(BIS) data show around $700 trillion in global derivatives.

Along with credit default swaps and other exotic instruments, the total notional derivatives value is about $1.5 quadrillion – about 20% more than in 2008, beyond what anyone can conceive, let alone control if unexpected turmoil strikes.

The late Bob Chapman predicted it. So does Paul Craig Roberts. It could “destroy Western civilization,” he believes. Financial deregulation turned Wall Street into a casino with no rules except unrestrained making money. Catastrophic failure awaits. It’s just a matter of time.

(read more)

Aug 05 19:10

New Obama Threats: No Iran Nuke Deal = A New Middle East War, Pissing off China, and the End of the Dollar as World Reserve Currency

While this is all likely theater anyway, let’s play along for a minute.

President Barack Obama gave a speech today at American University, where JFK gave a speech 52 years ago to the day at the height of the Cold War, specifically to liken himself to JFK, which he started the speech by pointing out.

Oh, and he also talked about the passing of the Iran Nuke deal, a talk that was basically just riddled with threats.

First, he warned if the deal didn’t pass, we’d have another war in the Middle East. Period. Or, as C-SPAN describes it, Obama contended that “congressional rejection of the deal would leave future administrations with another war in the Middle East as the only option.”

Obama claims this deal, in which there is no secret side deal — — is the best way possible to prevent Iran from acquiring a nuke. If the deal is rejected by Congress, however, Obama said it will be detrimental to U.S. security.

But, he said, walking away from the deal now is a “fantasy” anyway:

Aug 05 17:28

Massive Misallocation of Wealth Will END

Aug 05 15:40

Global Derivatives: $1.5 Quadrillion Time Bomb

The late Bob Chapman predicted it. So does Paul Craig Roberts. It could “destroy Western civilization,” he believes. Financial deregulation turned Wall Street into a casino with no rules except unrestrained making money. Catastrophic failure awaits. It’s just a matter of time.

Aug 05 15:10

The Fed: A Loose Cannon With a Lit Fuse

Aug 05 15:03

Sieren's China: Ukraine is China's breadbasket

After more than a year of sanctions against Russia, the Chinese have been increasing their investments in Ukraine. They're having the last laugh, writes DW columnist Frank Sieren.

Aug 05 14:30

Bay Area rental crisis squeezing out middle class

The pent-up demand for housing is taking a toll on Mark and Caitlin Fisch, who live with their three young children in a 2-bedroom apartment in Mountain View that rents for $2,575. A well-paid private schoolteacher, Mark has so far been able to make his payments, while Caitlin home-schools the kids. But with their lease expiring in September, they learned this month that the rent is going up -- way up -- to $3,600. Their options: sign a new one-year lease at the new rate, go month-to-month at $6,566, or leave. The family expects to do the latter.

Webmaster's Commentary: 

Time to eat the bankers. They are very soft, taste like chicken, and are GMO free!

Aug 05 14:17

Greedy Government Is Eying Yours (RETIREMENT SAVINGS SNEAKY GRAB)

With an $18 trillion debt and $97 trillion or so in unfunded liabilities, Uncle Sam is anything but flush with money. So Congress and President Obama are looking for ways to stem the flow of red ink. And your retirement or pension plan is square in their sights.

Aug 05 14:09

School Is A Fast-Track To Poverty

Aug 05 14:08

Egg Prices To Reach $6 A Dozen By Fall

Aug 05 14:00

The World Explained In One Chart

Aug 05 13:32

The Care and Feeding of a Financial Black Hole

A while ago I had the pleasure of hearing Sergey Glazyev—economist, politician, member of the Academy of Sciences, adviser to Pres. Putin—say something that very much confirmed my own thinking. He said that anyone who knows mathematics can see that the United States is on the verge of collapse because its debt has gone exponential.

Webmaster's Commentary: 

Aug 05 13:29

IMF stalls new SDR basket to keep China out!

Tiwari: To put this in context, the current SDR basket expires at the end of this year. We are proposing extending the current SDR basket by nine months until September 30, 2016. This is in response to feedback from SDR users on the desirability of avoiding changes in the basket at the end of the calendar year and facilitating continued smooth functioning of SDR-related operations. An extension of nine months would also allow users to adjust to a potential changed basket composition should the Executive Board decide to include the RMB.

Webmaster's Commentary: 

So basically, to head of China's Remnimbi and Yuan becoming accepted global currencies, the IMF is going to stretch the current expiration of the SDR "basket" into late next year.

Aug 05 13:17

IMF Erases Record of Facebook Intimacy With Ukraine's American Finance Minister

Hours after Polish journalist raised the propriety of IMF’s representative in Kiev being FB friends with Ukraine officials and PR agents these were erased or made private

Aug 05 12:08

Sanctions against Iran crumble as America wrangles over the nuclear deal

EU government ministers and business leaders are racing to begin new era of cooperation with Tehran – regardless of what US and Israeli sceptics say

Aug 05 12:00

Equity Options Traders Head For The Hills

Aug 05 11:39

“Greece is being ‘hit’, there’s no doubt about it,”

“Greece is being ‘hit’, there’s no doubt about it,” exclaims John Perkins, author of Confessions of an Economic Hit Man, noting that “[Indebted countries] become servants to what I call the corporatocracy … today we have a global empire, and it’s not an American empire. It’s not a national empire… It’s a corporate empire, and the big corporations rule.”

Aug 05 11:06

Deflation - AE Says Its About China

Aug 05 10:57

Kyrgyzstan will become full member of Eurasian Economic Union tomorrow — EEC

Kyrgyzstan becomes a full member of the Eurasian Economic Union (EAEU) from August 6, the Eurasian Economic Commission (EEC) said in statement on Wednesday.
"On August the 6th the agreement on Kyrgyzstan’s entering the EAEU comes into force. Kyrgyzstan becomes the fifth full member of the Eurasian Economic Union alongside with Armenia, Belarus, Kazakhstan and Russia," runs the statement.

Aug 05 10:08

U.S. Wage Growth Slowest in 33 Years

Aug 05 09:20

Donald Trump: Yellen Creating a Bubble

Aug 05 09:12

Massive Misallocation of Wealth Will END

Aug 05 09:12

Apple stock plummets for a fifth straight day, wiping out $113billion of its value, as the company struggles to meet raised expectations

The world's most valuable public company saw its stock price drop for a fifth straight day on Tuesday, falling as much as $5.19 or 4.4 percent, to $113.25 as investors fretted over China's economy and whether Apple can keep growing at the pace it's maintained over the last few quarters.

Apple shares are down 14 percent since closing at a record $133 in February. That puts Apple in a 'correction,' which is Wall Street jargon for price declines of 10 percent or more from a peak.

That loss breaks down to $113.4billion in paper wealth according to USA Today.

Aug 05 09:10

APPLE STOCK SHREDS $113B

Aug 05 09:10

Osborne's multi-billion pound clearance sale: Chancellor to flog more state assets in 12 months than in the last TWENTY years

Unite general secretary Len McCluskey described the findings as 'the sale of the century' and accused Mr Osborne of 'rewarding the Tory party's friends in the city in a spectacularly lavish style'.

He said: 'These are public assets belonging to the taxpayer, held in trust for the future for the benefit of the many, not for the financial gain of a rich city elite.

'George Osborne is being utterly irresponsible and inconsistent. On the one hand he announces £12 billion of cuts, the pain of which will be felt by the most vulnerable, on the other he rushes through the RBS sale and in the process loses out on a £14 billion return to taxpayers.

'This is money that could have been spent on infrastructure investment, education and health for the benefit of all.'

Aug 05 09:02

8 Examples of the DYING Global Economy!

Aug 05 08:27

"Bernanke loved to cut rates and print money"

Aug 05 08:27

United States Postal Service Charging Priority Rates for Standard Service

Today I was speaking with a USPS customer service rep who informed me that Priority Mail International Flat Rate Envelopes and Small Boxes offer no additional service over First Class International packages except that they are priced 50-100% higher.

Aug 05 08:02

Egg Prices To Reach $6 A Dozen By Fall

Aug 05 07:52

REVEALED…..THE REAL REASON CHINA’S A BASKET CASE, AND THE REAL SIZE OF THE CLIENTELE THAT BENEFITS FROM THE SHADOW BANKING SYSTEM

Webmaster BEX alert: This is a blatant attempt to scapegoat China for the coming financial crash caused by the Poniz-scheme Private Central Banking model.

Aug 05 07:49

Record imports swell US trade deficit

The gap between US exports and imports increased to $43.8bn, up from May's revised deficit of $40.9bn. Analysts had been expecting a deficit of $42.8bn.

Record imports of food and cars meant total imports rose 1.2% to $232.4bn.

Exports fell for the second month in a row, down 0.1% to $188.6bn, as global demand weakened.

Aug 05 07:14

Five Studies: The Psychology of the Ultra-Rich, According to the Research

"Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft where we are hard, and cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand. They think, deep in their hearts, that they are better than we are because we had to discover the compensations and refuges of life for ourselves. Even when they enter deep into our world or sink below us, they still think that they are better than we are. They are different."
—F. Scott Fitzgerald

Aug 05 06:06

Oil Lower, Plus Armstrong On Gold

Aug 05 02:26

Illegal Immigrants Appointed to City Government in California: “We’re Sending the Wrong Message”

The Los Angeles suburb Huntington Park made history, as the first city in the United States to official appoint undocumented, illegal immigrants as city officials.

The point of no return has been crossed — illegal immigrants are becoming an official part of the government.

Councilman Jhonny Pineda announced at Monday night’s city council meeting the appointment of two undocumented immigrants as commissioners…

Aug 04 23:27

Regular Gas 1.97 - Columbus Ohio Price

Aug 04 21:48

School Is A Fast-Track To Poverty

Aug 04 21:47

Venezuelan Inflation Soars To 800%

Aug 04 19:40

BEX ALERT:Old office-temperature rule for men leaves women freezing at work

I can't remember. Is it getting colder or warmer or is it just changing now!

A new study says most office buildings set temperatures using a 1960s model based on men’s faster metabolic rate. It says “gender-discriminating bias in thermal comfort” should be reduced because slightly higher temperature levels can combat global warming.

Aug 04 17:40

8 Financial Experts That Are Warning That A Great Financial Crisis Is Imminent, Next Several Months To Be Extremely Chaotic

Will there be a financial collapse in the United States before the end of 2015? An increasing number of respected financial experts are now warning that we are right on the verge of another great economic crisis.

Aug 04 17:37

Venezuelan Inflation Soars To 800%

Aug 04 17:11

China Blames US Hedge Funds And HFT Firms

Aug 04 17:02

Government debt per capita!

Aug 04 15:02

Silver Investment Demand Is Draining The Vaults Of COMEX

If there are words to characterize the precious metals markets for July, it would be “divergences” and “shortages.” There was heavy selling in the leveraged futures market and extraordinary buying demand and shortages in physical coins, rounds, and bars.

Aug 04 14:31

A sinkhole grows in Brooklyn: six-meter crater swallows street

A massive sinkhole has swallowed up an intersection in Brooklyn, New York, snarling up traffic and causing water and gas outages to nearby buildings. Local residents are already joking about turning it into a rent-controlled apartment.

Aug 04 14:31

Despite Epic Crash of World Economy, White Collar Prosecutions at 20-Year Low

Despite lofty rhetoric from politicians who vowed in the aftermath of the 2008 financial crisis to hold Wall Street accountable, U.S. Justice Department statistics show a "long-term collapse" of federal white collar crime prosecutions, which are down to their lowest level in 20 years, according to a new report from Syracuse University.

The analysis of thousands of records by the university's Transactional Records Access Clearinghouse (TRAC) shows a more than 36 percent decline in such prosecutions since the middle of the Clinton administration, when the decline first began. While there was an uptick early in Barack Obama's presidency, current projections indicate that by the end of the 2015 fiscal year, such prosecutions will be at their lowest level since 1995.

But that doesn't mean white collar crime itself—which involves a wide range of activities such as health care fraud and the violation of tax, securities, antitrust, federal procurement, and other laws—is on the wane.

Aug 04 13:32

Striking Similarities to 2008 Crisis

Aug 04 13:00

‘Oil’s fall is purely sentimental’

Aug 04 12:27

Why The Government Hates Gold

Aug 04 12:23

Why are weddings so damn expensive?

Aug 04 11:13

Tunnel People

Aug 04 10:59

Why Baby Boomers Should Worry

Aug 04 10:57

Baltimore House Prices Are Plunging

Aug 04 10:07

UK raises $3.3 billion in 1st sale of Royal Bank of Scotland shares

The £2.1 ($3.3) billion raised will be used to settle the national debt.

The money from this sale will benefit no-one but bankers.

Aug 04 10:01

China Now Runs 4 Of The World's 5 Biggest Banks

Aug 04 08:47

The CEO of collapsed bitcoin exchange MtGox has been arrested in Japan

Japanese police on Saturday arrested Mark Karpeles, CEO of the collapsed MtGox bitcoin exchange, over the loss of nearly $390 million worth of the virtual currency, local media said.

Karpeles, 30, is suspected of having accessed the computer system of the exchange and falsifying data on its outstanding balance, Kyodo News and public broadcaster NHK said.

Webmaster's Commentary: 

The problem isn't the currency itself, it is the money-junkies who seek to control and take ALL currencies!

Aug 04 08:46

American Oligarchy – 400 Families Represent 50% of Money Raised by 2016 Presidential Candidates Thus Far

Ever since I started this website in 2012, one of my primary objectives was to convince readers that the American system of government is nothing like what we are told in school and via the oligarch-owned mainstream media. That the country has become so captured and corrupted by sociopathic oligarchs, that a neo-feudal modern serfdom was emerging where the opportunities to enjoy rising standards of living for the vast majority of people was rapidly becoming a pipe dream.

I think many readers appreciated my warnings, but it wasn’t until an academic study from Princeton and Northwestern came out and factually proved it, that it become undeniable to many people.

Aug 04 08:32

U.S. RENEWS PUSH FOR TRANS-PACIFIC PARTNERSHIP

After fierce resistance from Australia and several Asian countries, the United States is again making an aggressive move to get the Trans-Pacific Partnership (TPP) approved in all member states. American Secretary of State John Kerry has flown to Singapore, where he will meet with several Asian dignitaries to hammer out a deal on the TPP. A few sticking points, such as Americans’ insistence on strict regulations of patented prescription drugs, have caused other states to balk at the agreement, with Australia making the loudest protests over the lack of free trade agreements within the agreement.

Aug 04 07:57

Gold Sentiment Is Just Ugly

Aug 04 07:50

Ongoing monetary and banking reform communication with ~2,000 AP Econ teachers

*hyperlinks/video live at source*

Since 2009 I've been a Socratic voice for monetary and banking reforms to ~2,000 Advanced Placement Macroeconomics teachers on our discussion listserve. The status over the last six years is an occasional positive response, with a total of perhaps ten teachers in at least mild agreement, and occasional negative responses that I end with a few polite yet direct Socratic questions that demonstrate no substantiation to the negative argument. None of the negative ones or other colleagues follow-up with good questions to learn, only two have communicated to me privately in partnership, and zero colleagues have joined my voice on the listserve in any way pointing to reforms or admonishing colleagues to look at the game-changing data.

Aug 04 07:35

Gold: Use the Cockroach Strategy

Aug 03 22:04

Greece Succumbs to Imperialist Banksterism

At the time of writing, the national debt of Greece stood at more than €357 billion, and government debt was more than 175 per cent of GDP and growing. The cause, according to Greece’s major creditors in Berlin, London and New York, was profligate social spending. The Greek government, they argue, took out unsustainable loans to pay for health coverage, minimum wage, decent pensions, libraries, schools and parks. Therefore, Greeks are responsible for their own predicament: The people have to tighten their belts, even if that means adding a few notches, and the government must succumb to deregulation and increased privatization; in other words, Greece must surrender political control over its economy to foreign corporations. This is the standard, bourgeois explanation. It is dead wrong.

Aug 03 17:05

Why The U.S. Is the Next Greece

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