ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 25 23:04

The Future of Freedom: A Feature Interview with NSA Whistleblower William Binney

historic parallels in privacy violations
how the government makes you vulnerable to hackers
retro-active immunity/ex post facto legality

Jan 25 20:34

America's War on Everything It Claims to Stand For by Stephen Lendman

snip: What nation has far and away the world's worst human and civil rights record over a longer duration? Affecting the greatest number of people.

Which one bears more full responsibility for multiple global genocides? At home and abroad.

Which cares only for its rich, well-born and privileged? No others. Which more systematically wants its middle class eliminated? Its working population exploited as serfs.

Which one more disproportionately shifts wealth from ordinary people to corrupted rich elites already with too much? Billionaires and multi-millionaires. Making money the old-fashioned way.

Which one more egregiously supports wrong over right on a global scale? Which continues inflicting more harm on more people than any nation in human history?

Which more systematically trashes its own laws on fundamental rights?

Jan 25 20:00

What's the Eurocrats' real fear? Greece quits and thrives

But at least a default and devaluation would offer a fresh start. Although the economy has been pummelled by six years of Euro-austerity, some of the fundamentals have improved.

The bureaucracy has been slimmed, taxes are now collected and, if debt repayments were taken out of it, the budget would be in balance. In truth, this is what EU leaders fear. Not that Greece will leave the euro and collapse, but that Greece will leave the euro and prosper.

A competitive Greek economy, exporting its way back to growth, might inspire Spaniards and Italians, who have also been paying the price of the euro, to follow.

For those Eurocrats who see the single currency as a component of political integration, that prospect is too horrible to contemplate.

Jan 25 19:46

Nobody Understands This Huge Scam In The Silver Market

Surprisingly enough, there was a withdrawal from GLD yesterday, as an authorized participant took out 57,622 troy ounces. But when it comes to the SLV action, words fail me. I must admit that when I checked the iShares.com website early yesterday evening, I wasn’t sure what to expect, although unchanged or a small deposit wouldn’t have surprised me. But what I found was one of the biggest one-day withdrawals in my memory, as an authorized participant took out a stunning 6,749,403 troy ounces. What the **** is going on?

Since January 1, 2015—11.3 million ounces of silver have been withdrawn from SLV—and from the beginning of December, just under 32 million troy ounces of silver have been taken out—about 1,000 tonnes of the stuff.

Jan 25 18:30

Despite higher gold price Chinese demand still surging

The latest SGE withdrawal figures show withdrawals of 70 tonnes for the week ending Jan 16th – the third highest weekly figure ever.

Jan 25 18:11

The Most Important Phenomenon in Investing

Jan 25 17:05

Politicians or central bankers: who runs the world?

Global governance sounds like a good idea. Solving the sorts of “collective action problems” that are an inescapable part of geographically dispersed activities – especially economic ones – is something only some sort of supranational authority can do. Until relatively recently we looked primarily to states to provide the institutional and legal infrastructure that allowed people to conduct commercial relationships with strangers. Now, when economic activities and relationships are increasingly transnational, states cannot provide such a regulatory framework – or they can’t on their own, at least.

Jan 25 16:13

Kunstler: "....enjoy the $2.50-a-gallon fill-ups while you can, grasshoppers."

Anyway, the financial structure of the shale play was suicidal from the get-go. You finance the drilling and fracking with high-yield “junk bonds,” that is, money borrowed from “investors.” You drill like mad and you produce a lot of oil, but even at $105-a-barrel you can’t make profit, meaning you can’t really pay back the investors who loaned you all that money, a lot of it obtained via Too Big To Fail bank carry-trades, levered-up on ”margin,” which allowed said investors to pretend they were risking more money than they had. And then all those levered-up investments — i.e. bets — get hedged in a ghostly underworld of unregulated derivatives contracts that pretend to act as insurance against bad bets with funny money, but in reality can never pay out because the money is not there (and never was.) And then come the margin calls. Uh Oh….

In short, enjoy the $2.50-a-gallon fill-ups while you can, grasshoppers, because when the current crop of fast-depleting shale oil wells dries up, that will be all she wrote.

Jan 25 16:13

Kunstler: "....enjoy the $2.50-a-gallon fill-ups while you can, grasshoppers."

Anyway, the financial structure of the shale play was suicidal from the get-go. You finance the drilling and fracking with high-yield “junk bonds,” that is, money borrowed from “investors.” You drill like mad and you produce a lot of oil, but even at $105-a-barrel you can’t make profit, meaning you can’t really pay back the investors who loaned you all that money, a lot of it obtained via Too Big To Fail bank carry-trades, levered-up on ”margin,” which allowed said investors to pretend they were risking more money than they had. And then all those levered-up investments — i.e. bets — get hedged in a ghostly underworld of unregulated derivatives contracts that pretend to act as insurance against bad bets with funny money, but in reality can never pay out because the money is not there (and never was.) And then come the margin calls. Uh Oh….

In short, enjoy the $2.50-a-gallon fill-ups while you can, grasshoppers, because when the current crop of fast-depleting shale oil wells dries up, that will be all she wrote.

Jan 25 14:52

The financial system is a lie.

Jan 25 14:45

Economic Myths – The Deflation Danger

Jan 25 13:57

Greece’s anti-austerity Syriza party officially wins parliamentary elections

Greece’s radical leftist party, Syriza, is leading the country’s parliamentary election, claiming 36.5 percent of the vote, and leaving the ruling New Democracy party in second place with 29.22 percent, according to the first official results.

Jan 25 13:13

CS Global Risk Appetite

Jan 25 13:11

European Parliament Adopts Resolution Making War With Russia Possible

6.Calls for the continuation of the current EU sanctions regime, in particular with a view to the upcoming March 2015 Council meeting, as long as Russia does not fully respect and, above all, deliver on its Minsk obligations, and urges the Commission to find ways to enhance solidarity among Member States should the crisis with Russia continue; stresses the need to adopt a clear set of benchmarks which, when achieved, could prevent imposing new restrictive measures against Russia or lead to lifting of the previous ones, including: implementation of the ceasefire, unconditional withdrawal from Ukraine of all Russian troops and Russian-backed illegal armed groups and mercenaries, exchange of all prisoners including Nadia Savchenko, and restoration of Ukraine’s control over its whole territory, including Crimea; in the case of any further Russian actions destabilising Ukraine, invites the European Council to take up further restrictive measures and broaden their scope, by covering the nucl

Jan 25 12:29

BIS working paper on global dollar credit

Jan 25 12:04

Next Week Is the Real Test For This Rally

Jan 25 12:01

UK internet porn filters up and running as expected -- blocking the websites of businesses and charities

The adult content filters being rolled out by some internet providers under a scheme championed by David Cameron are blocking the websites of businesses and charities and are a “distraction” for parents seeking to protect children from online pornography, claim campaigners. TalkTalk announced this weekend that it would follow Sky and become the second of the UK’s four major internet providers to roll out automatic filters for all its customers unless they specifically ask for them to be turned off. It plans to begin applying the blocks to all users’ accounts next month.

Jan 25 11:35

Greek election: Syriza says 'hope has won' – live updates

With 100% of data processed: MRB exit poll for Star TV, give Syriza 10-point win, seat projection 148-154

Jan 25 11:13

Fewer future lawyers

Jan 25 10:28

More homeless camps are appearing beyond downtown L.A.'s skid row

Evicted four months ago from their Highland Park apartment, Louis Morales and his 18-year-old stepson, Arthur Valenzuela, live half-hidden by brush along the nearby Arroyo Seco riverbed.

Morales, 49, keeps a framed bible verse and a stuffed monkey in his tent. Water hauled by bike from a park heats up on the camp stove.

Next door, their friend Johnny Salazar fixes bikes and shattered computer screens on the cheap for people who live in the neighborhood. A brother and sister Morales has known for years live up the river, and three couples stay down by the bridge.

Jan 25 10:16

IRAN DITCHES US DOLLAR IN FOREIGN TRADE TRANSACTIONS

It took Iran quite some time to take this step… Now how long will it take the US and her master to react? And how will they react? Will the MEK be unleashed all over the US? Will Bibi, at long last, get his war against the Islamic Republic of Iran?

Jan 25 10:04

Greeks elect new parliament amid EU withdrawal concerns

Greeks are going to polling stations on Sunday to elect a new parliament. The populist radical-leftist party Syriza has won the hearts of many austerity-ridden people with its message of reverting wages cuts and renegotiating debt obligations.

Prime Minister Antonis Samaras was forced to call a snap vote in December after the parliament failed to elect a president. His center-right New Democracy party is now running behind Syriza, with opinion polls showing a gap of several percentage points.

Syriza leader Alexis Tsipras urged his voters to give his party an outright victory of 40 percent, which would allow him to form a government with no help from other parties.

Webmaster's Commentary: 

That is because the last time Greece held elections, Syriza won, but the pro-banker politicians refused to form a coalition government, forcing a second election that Syriza lost by a razor thin margin amid reports of wide-scale election fraud.

Jan 25 10:01

Over 3mn German workers live below poverty line – report

Being employed in Germany is no longer enough to make ends meet, as around 3.1 million workers receive salaries below the country’s poverty threshold. People have been forced to cut back on food and heating in order to survive, German media reported.

Jan 25 09:52

Get Ready For Negative Interest Rates In The US

With Fed mouthpiece Jon Hilsenrath warning - in no lesser status-quo narrative-deliverer than The Wall Street Journal - that The ECB's actions (and pre-emptive collapse in the EUR) means the U.S. economy must deal with a rapidly strengthening dollar that will make American goods more expensive abroad, potentially slowing both U.S. growth and inflation; and Treasury Secretary Lew coming out his crypt to mention "unfair FX moves," it appears The Fed (and powers that be) are worrying about King Dollar. This suggests, as Mises Canada's Patrick Barron predicts, the Fed will start charging negative interest rates on bank reserve accounts as the final tool in the war on savings and wealth in order to spur the Keynesian goal of increasing “aggregate demand”. If savers won’t spend their money, the government will take it from them.

Jan 25 09:37

Ekloges 2015: Greece Votes In Historic For Europe Election

What is at stake for Greece today? Largely the same things as in 2012, which means an appropriate question is what is at stake for Europe. The answer: a lot, because suddenly the fate of the European monetary union is in the hands of some 9.8 million eligible to vote Greeks: something the unelected bureaucrats in Brussels had hoped to avoid in perpetuity. And with the leading candidate on war footing with Brussels (if only for the time being) the next few days in Europe will be quite interesting: "In Greece, democracy will return," the party's 40-year-old leader Alexis Tsipras told a throng of cameras as he voted in Athens. "The message is that our common future in Europe is not the future of austerity."

Jan 25 09:36

Euro crisis looms as Greek Left lead poll: Fears victory for anti-austerity party could trigger panic - and force country into bankruptcy

The euro stands on the brink of its biggest ever crisis today as Greeks vote in their general election – with the anti-austerity party Syriza maintaining a four-point lead in the polls.

With the euro at its lowest value against sterling in seven years, a Syriza victory could trigger panic in the EU and the eurozone – risking bankruptcy for Greece and its exit from the euro.

Jan 25 08:27

% of global wealth held by the middle class

Jan 25 08:18

Spot The Difference: Money Printing, Then And Now

Jan 25 08:14

Icahn on the EUR, the Fed, & USD strength:

Jan 25 07:04

Ukraine crisis: Angela Merkel 'offers Russia free trade deal for peace'

Angela Merkel has reportedly offered Russia negotiations on a free trade agreement with the EU in exchange for a peace deal in Ukraine.

The German chancellor made the offer at the World Economic Forum in Davos, where she spoke of a free trade area “from Lisbon to Vladivostok”, according to a report in Süddeutsche Zeitung newspaper.

Mrs Merkel said Germany was “ready” to discuss “possibilities of cooperation in a common trade areas”. But she made it clear talks could not start until Russia abides by the Minsk Agreement, the ceasefire agreed in September, which it has so far failed to honour.

Jan 25 05:31

S&P 500 Index: 2009 - 2014

Jan 25 02:23

Charlie Hebdo, A Free Press, And Social Security

Once the financial system was deregulated–a libertarian objective–it became impossible to privatize Social Security other than for insincere reasons of letting Wall Street rob retirees. The lack of accountability, which followed the last financial crash, and the declaration of financial institutions being too big to fail, and thus are carried on the nation’s budget or the Federal Reserve’s balance sheet, also make clear that it is impossible to trust old age security to an unaccountable financial system.

Jan 24 16:54

This is the beginning of the end for the Euro

When you print more money, you drive down the value of your currency

Jan 24 16:05

Debt and Deflation: Three Financial Forecasts

Jan 24 14:44

Western fawning to shore up Saudi House of Cards

The fawning by the American and British governments toward Saudi Arabia over the death of King Abdullah is for good – albeit unspoken – reasons. The oil-rich feudal kingdom is a lynchpin of Western hegemony in the strategically vital Middle East region. At a time when the region is gripped by instability more than ever, the House of Saud now enters a dangerous period of transition, which presents deep alarm to the Western patrons.

Jan 24 14:38

ECB to launch €1.1 trillion of quantitative easing

By buying eurozone governments’ bonds using electronically created money – so-called quantitative easing– the ECB hopes to shore up confidence, boost inflation, and drive down the value of the euro on foreign exchanges, helping to boost exports and kickstart growth.

The €60bn a month figure includes the purchases of private sector assets that the ECB had already begun to try to unlock credit markets.

Jan 24 14:35

Congress Seeks Netanyahu’s Direction

Showing who some in Congress believe is the real master of U.S. foreign policy, House Speaker John Boehner has invited Israel’s Prime Minister Benjamin Netanyahu to address a joint session and offer a rebuttal to President Barack Obama’s comments on world affairs in his State of the Union speech.

Boehner made clear that Netanyahu’s third speech to a joint session of the U.S. Congress – scheduled for Feb. 11 – was meant to counter Obama’s assessments.

“There is a serious threat in the world, and the President last night kind of papered over it,” Boehner said on Wednesday. “And the fact is that there needs to be a more serious conversation in America about how serious the threat is from radical Islamic jihadists and the threat posed by Iran.”

Jan 24 13:11

Obama: Economy Does Best When Everyone Does Their Fair Share

President Obama touted “middle-class economics,” which he defined as “the idea that this country does best when everyone gets their fair shot, everyone does their fair share, and everyone plays by the same set of rules” during his Weekly Address on Saturday.

Jan 24 13:10

Obama: Economy Does Best When Everyone Does Their Fair Share

President Obama touted “middle-class economics,” which he defined as “the idea that this country does best when everyone gets their fair shot, everyone does their fair share, and everyone plays by the same set of rules” during his Weekly Address on Saturday.

Jan 24 13:08

Chase Bank Closing 37 Branches

Chase Bank will be shuttering 37 branches this spring located at Meijer stores throughout Michigan. The closures will begin at the end of the March and be completed by the end of May.

Jan 24 12:26

Lunatics Run the Washington Asylum by Stephen Lendman

snip: Washington's public face belies its pure evil. At home and abroad. Ruthlessly pursuing policies likely to make lesser despots blush.

America alone wages war on humanity. Using weapons of mass destruction. Including chemical, biological and radiological ones.

Other banned weapons. New ones tested in real time. Regardless of the horrors they cause.

US domestic and foreign policy is polar opposite what's acceptable in free societies. Bipartisan criminals run things. Lunatics.

Media scoundrels support their worst policies. Proliferating managed news misinformation. Suppressing hard truths.

Jan 24 11:17

Bill Gates: Get on your knees and beg for your jobs

He might not have said it in so many words, though I wish that he had because only that kind of candor can get Americans to wakeup and do what is necessary to survive this stealth and brutal war, calculated to destroy their lives.

Microsoft cofounder Bill Gates isn’t going to sugarcoat things: The increasing power of automation technology is going to put a lot of people out of work. Business Insider reports that Gates gave a talk at the American Enterprise Institute think tank in Washington, DC this week and said that both governments and businesses need to start preparing for a future where lots of people will be put out of work by software and robots.

Webmaster's Commentary: 

Bill misses a key point. Software and robots do not earn wages to pour back into the economy. Bill's vision of the future is 300 million Americans starving in the streets while the factories and stores are filled with robots standing around with nothing to do!

Jan 24 11:08

Why printing money will end badly for the U.S.

You may have heard the news, the European Central Bank have started up the printing press.

Jan 24 11:05

Stefan Molyneux: There Is No Such Thing as Mental Illness

But all of you have Oppositional Defiant Disorder!

So, here are 12 symptoms of ODD:
- The person often loses control of his temper;
- The person behaves aggressively/assertively;
- The person argues with his parental authorities and other adults and does not obey them;
- The person deliberately irritates others;
- The person is apathetic or cannot play with others;
- The person with oppositional defiant disorder is often angry or nervous;
- The person refuses to comply with the rules (in context or in environment/situation);
- The person is too stubborn;
- The person often occur hysterical attacks or outbursts;
- The person with oppositional defiant disorder cannot communicate normally with other compliant peers;
- The person does not want to comply or engage in other organized/expected activities;
- The person with oppositional defiant disorder symptoms remembers the hurt for a long time and does not forget about them.

Jan 24 10:57

Remembering The Currency Wars Of The 1920s & 1930s (And Central Banks' "Overused Bag Of Tricks")

Commodity price declines were the symptom of sharply deteriorating economic conditions prior to the 1920-21 depression. To be sure, today’s economic environment is different. The world economies are not emerging from a destructive war, nor are we on the gold standard, and U.S. employment is no longer centered in agriculture and factories (over 50% in the U.S. in 1920). The fact remains, however, that global commodity prices are in noticeable retreat. Since the commodity index peak in 2011, prices have plummeted. The Reuters/Jefferies/CRB Future Price Index has dropped 39%. The GSCI Nearby Commodity Index is down 48% (Chart 1), with energy (-56%), metals (-36%), copper (-40%), cotton (-73%), WTI crude (-57%), rubber (-72%), and the list goes on. In some cases this broad-based retreat reflects increased supply, but more clearly it indicates weakening global demand.

Jan 24 10:31

Bo Polny: 2015 should be a good year for Gold

Jan 24 10:30

FLASHBACK: Dr. Paula Caplan on how psychiatrists decide who's normal

ask a barber if you should get a haircut...

the DSM teaches providers how to get the bills paid

reinforcing victim-hood ensures continued patronage

Jan 24 10:24

Greek Right Fears First Left Government in Greek History

Dimitri Lascaris reports from Greece that a near six point lead for SYRIZA is raising memories of the fascist coup and civil war

Jan 24 09:56

Business of Civil Forfeiture (made easier!)

snip: Black Asphalt lets its 25,000 users compile and share detailed data on private motorists—whether they’ve done anything wrong or not—including addresses, social security numbers, information from traffic stops or interrogations, searches, etc. Information is shared informally without official oversight, and many of the reports end up in federal fusion centers where they can be shared with law enforcement agencies at all levels.

Desert Snow encourages users to provide data about their traffic stops by offering rewards and incentives. The more data an officer enters, the more rewards he earns. Desert Snow also holds an annual competition to recognize officers who have seized the most contraband. Top earners (to borrow a term from The Sopranos) are honored at Desert Snow’s annual conference.

Jan 24 09:32

Currency wars in the EU

Jan 24 09:25

Six Signs Your Company Is Ready To Expand

Having your own business is a long way, very long. However, if all goes well, there comes a time when we can think of to expand. If not so, how else started the big chains?

However, although startups should keep in mind a growth plan, you must consider that grow before time can become a real problem.

Jan 24 08:51

10 Reasons Why You Need an Offshore Bank Account

Nick Giambruno, Senior Editor, International Man
Casey Research

You may have wondered: “What’s the difference between having a bank account at Bank of America and having an offshore bank account?”

The truth is, there’s possibly all the difference in the world.

Here are the top 10 reasons why you need an offshore bank account...

Jan 24 07:58

Iran moves away from US dollar in foreign trade

Iran is stopping mutual settlements in dollars with foreign countries and agreements on bilateral swap in new currencies will be signed in the near future, the Central Bank of Iran (CBI) has said.

“In trade exchanges with foreign countries, Iran uses other currencies, including Chinese yuan, euro, Turkish lira, Russian ruble and South Korean won,” Gholamali Kamyab, CBI deputy head, told the Tasnim state news agency.

He added that Iran is considering the possibility of signing bilateral monetary agreements with several countries on the use of other currencies.

Jan 24 05:05

Draghi's "No-growth" QE - Money for Stocks, Zilch for the Economy

Most experts agree that QE will do almost nothing to stimulate growth or reduce soaring unemployment, they also agree that it will push bank stocks higher, intensify their gambling operations, and help them to conceal their lack of capital.

Jan 23 16:12

This Is the Beginning of the End for the Euro

The long-anticipated collapse of the euro is here. Over the next 18 months, the European Central bank will create more than a trillion euros out of thin air and will use that money to buy debt.

Jan 23 16:00

BLINKING RED LIGHT: Big Trouble Ahead For Bakken Oil Production

The glory days of the Great Bakken Oil Field are soon coming to an end. With the collapse of the price of West Texas Intermediate Crude, shale oil production from the Bakken is in big trouble. How much trouble? Well, if we understand how much of its production growth came in 2014, the situation is dire indeed.

Ironically, Americans have been lulled into believing that the United States is heading towards energy independence, while the opposite is the case. Not only has the Bakken given us a false sense of energy security, when it finally peaks… it will decline in stunning rapid fashion. This is what the media, oil industry and public fail to realize.

Jan 23 15:47

Rick Harrison Has Some Interesting Things to Say on Gold Scarcity

This tells you everything you need to know about the possibility of gold manipulation, and where the price will be heading in the future.

Jan 23 15:35

The Davos oligarchs are right to fear the world they’ve made

The billionaires and corporate oligarchs meeting in Davos this week are getting worried about inequality. It might be hard to stomach that the overlords of a system that has delivered the widest global economic gulf in human history should be handwringing about the consequences of their own actions.

Jan 23 15:31

'Poor,' 'Middle Class'–What's the Difference to the 1 Percent? By Jim Naureckas

snip: What's to explain this poor/middle-class mash-up? The official poverty line for a family of four is $23,850. Median household income is $51,939. Perhaps from the point of view of the 1 percent, whose average household income is more than $1 million, it's hard to see the difference?

Jan 23 15:15

Bigger Rewards for Holding the Economy Hostage It Pays to be a Banker by PETE DOLACK

snip: The “assault on banks” must have been conducted with a wet noodle. Although by any ordinary human logic, these colossal sums of money should satiate the most asocial speculator, the remorseless logic of capitalism dictates that more is never enough, that profits have to increase steadily. Even the rate of the increase can be expected to increase.

Jan 23 14:56

Barack Obama: A Foil Against the Public Interest The King of Empty Gestures by ROB URIE

snip: There was no hesitancy on Mr. Obama’s part to apply the full array of government resources to the bailouts of Wall Street and the bloated, corrupt (management, not workers) automakers. And the bailouts were claimed to resolve a failure of markets, much as widespread unemployment has been understood to be since the Great Depression.

Jan 23 14:46

Maintain Economy - China refuses to Saudi Oil

Webmaster's Commentary: 

In short, increased Russia/China oil cooperation may have added pressure for Saudi Arabia to lower oil prices.

Jan 23 14:44

The "Humanitarian" Weapon Drones and the New Ethics of War by NEVE GORDON

arguing the ethics of murder is like arguing the ethics of rape or torture. It makes no sense since those actions are always wrong.

Which is more cowardly: bombing, sniping, or drone strikes? Doesn't matter, does it? Since dead is dead.

snip: Exposing the lives of one’s troops was never considered good, but historically it was believed to be necessary. Therefore dying for one’s country was deemed to be the greatest sacrifice and those who did die were recognized as heroes. The drone wars, however, are introducing a risk-free ethics of killing. What is taking place is a switch from an ethics of “self-sacrifice and courage to one of self-preservation and more or less assumed cowardice.”

Jan 23 14:33

Suddenly 2015 feels a whole lot like the delusional financial euphoria we saw before the dot-com crash

The media will never tell you a crash is coming, even when it's imminent

Jan 23 13:46

THE DAVOS OLIGARCHS ARE RIGHT TO FEAR THE WORLD THEY’VE MADE

The billionaires and corporate oligarchs meeting in Davos this week are getting worried about inequality. It might be hard to stomach that the overlords of a system that has delivered the widest global economic gulf in human history should be handwringing about the consequences of their own actions.

Jan 23 13:29

SkyMall Files for Bankruptcy

The company behind the in-flight catalog SkyMall filed for bankruptcy protection, a victim of evolving rules and technology that now lets airline passengers keep their smartphones and tablets powered up during flight.

Webmaster's Commentary: 

Along with the fact that most things in the catalog were not really practical!

Jan 23 13:26

City charges impoverished residents $20 per month when their water is shut off

NIAGARA FALLS, N.Y. (The Buffalo News): The Niagara Falls Water Board got an earful from some residents Thursday about an “availability” fee that property owners pay even if their water service is shut off.

The Water Board charges $20 per month to any property that has the potential of receiving water service but does not, meaning some shell out $240 a year even if not one drop of water runs through their water line.
...
One way to avoid this fee - without having the water service turned back on, which comes with its own fee - would be to hire a plumber to have the water line “capped,” or turned off, at the street. This could cost around $2,000, said Virtuoso, the recently retired acting director of the city’s Code Enforcement Department.

Jan 23 13:01

CNY homeowners sued, told they can't park pickup truck in driveway

A homeowners' association has filed a lawsuit seeking to bar a resident in the town of Manlius from parking his own pickup truck in his driveway.

The Kimry Moor Homeowners Association has filed a lawsuit against residents David and Arna Orlando in Onondaga County Supreme Court because they are parking their 2014 black Ford 150 pickup in their driveway at 511 Kimry Moor, just outside the village of Fayetteville.

The association wants an injunction to stop the couple from parking their pickup in the driveway of their home.

Webmaster's Commentary: 

This hits close to home as I am going through a similar headache with the homeowner's association where I live. Following a recent re-topping of the parking lot with the cheapest sealant they could find, all residents were told that they would be fined for oil spots on their parking stalls. As I have an older car (and did find and repair a leak) I am now parking on the street. BUT ... other people, including vehicles used by homeowner's association contractors, are using my stalls, and leaking more oil on the pavement.

The homeowner's association won't allow me to put down a permanent cover like plywood, and insist I am responsible for the costs of damage from oil leaking from vehicles that park in my stalls without my permission!

I think these homeowner's associations have become one of the biggest threats to personal freedom and common sense!

Jan 23 12:52

Austin Report – Deflation Edition

Jan 23 12:46

Talking silver with JM Bullion’s James Anderson

author of The Beginner’s Guide To Bullion Investing

Jan 23 12:05

LaRouche Warns: Wall Street's Growing Desperation Is Fueling Global Thermonuclear Showdown

Wall Street is on the edge of another financial tsunami, and this is driving the world towards general war, with the latest provocations in Ukraine serving as the immediate trigger for confrontation with Russia.

As Citibank was the latest of the Wall Street too-big-to-fail banks to post serious fourth-quarter losses, and as the Wall Street banks were announcing 50,000 layoffs, half-way around the globe the Ukrainian government was launching new provocations against Russia, meeting with top NATO generals and announcing a draft to call up 100,000 new troops to launch a military offensive against its own citizens in eastern Ukraine.

Jan 23 12:03

Suddenly 2015 feels a whole lot like the delusional financial euphoria we saw before the dot-com crash

The media will never tell you a crash is coming, even when it's imminent

Jan 23 11:38

Hard-hit worker wonders where the economic resurgence is

Ask Joshua Thevenin — who since last month has been a newspaper salesman, fireworks vendor and tele-marketer — what he thinks about assertions the economy is roaring toward recovery and you'll get a sigh and a shake of his head.

"I don't see it. If it is, I don't know where," he said.

Jan 23 11:36

eBay Lays Off Thousands After Obama Touts Company in State of the Union Address

THE POLITICO reports that President Obama, during his State of the Union address on Tuesday, gave shout outs to a number of American companies in an effort to highlight the strength of the U.S. economy. Nearly all of those companies, it turns out, are big political spenders and have contributed heavily to Democrats.

One of those companies was eBay, which Obama cited as an example of how “millions of Americans [are working] in jobs that didn’t even exist 10 or 20 years ago.” That now seems like an unfortunate choice, because less than 24 hours after Obama’s speech, eBay announced it was cutting 2,400 jobs, or about 7 percent of its workforce. Investors welcomed the layoffs, and the company’s stock jumped more than 4 percent on the news.

Jan 23 11:35

Now Begins The Greatest Heist Since Bernanke Bailed Out Wall Street In September 2008

Well, he finally launched “whatever it takes” and that marks an inflection point. Mario Draghi has just proved that the servile apparatchiks who run the world’s major central banks will stop at nothing to appease the truculent gamblers they have unleashed in the casino. And that means there will eventually be a monumental crash landing because the bubble beneficiaries are now commanding the bubble makers.

Jan 23 11:15

RUNNING AN ECONOMY IS NOT A LAYMAN’S JOB!

Jan 23 11:15

Greece Set To Reject Austerity And Financial Oligarchy

In two days time Greece is due to go to the polls and Syriza, a party looking to say no to ridiculous and unmanageable debts, is set to take power. This has the potential to cause a huge shift in economic policy throughout the world as it identifies austerity as a failed policy route. But not everyone in the Euro thinks it is a bad idea for the Greeks to do this, Hollande had no issue here but subsequently had his nation fall victim to a terrorist attack. This has the potential to cause huge changes in a world currently dominanted by Anglo-American financial hegemony.

Jan 23 11:13

SYRIZA Heads Towards a Majority in Greece as Elections Approach

The coalition of the radical left SYRIZA Party is poised to win the parliamentary elections on January 25 in Greece. If SYRIZA win, they could form the next government and confront the catastrophic austerity agenda that has plagued Greece and thrown it into a severe economic crisis. The possibility of SYRIZA-led government is sending chills down the spines of the European power centers in Berlin and in Paris and at the European Union headquarters in Brussels.

Jan 23 11:13

The Grand Strategy To Cast Off the Corporate State

If the strategies and tactics within this document are implemented successfully, our movement will be more united, driven, connected, funded, and determined than ever before. The corporate state will be broken in both finances and spirit.

Jan 23 11:12

Next Week's Bloodbath At IBM Won't Fix The Real Problem

To fix its business problems and speed up its “transformation,” next week about 26 percent of IBM’s employees will be getting phone calls from their managers. A few hours later a package will appear on their doorsteps with all the paperwork. Project Chrome will hit many of the worldwide services operations. The USA will be hit hard, but so will other locations. IBM’s contractors can expect regular furloughs in 2015. One in four IBMers reading this column will probably start looking for a new job next week. Those employees will all be gone by the end of February.

Jan 23 09:33

VTB Bank Head: End of Banking Relationship with US Would Lead to War

The head of a leading Kremlin-owned bank warned on Friday that further banking sanctions would lead Russia and the U.S. to the “brink of war.”

Jan 23 09:18

UPS warns of disappointing results

United Parcel Service, Inc. warned of disappointing fourth-quarter and full-year results, as higher-than-expected seasonal expenses and currency headwinds dragged down earnings.

Jan 23 09:17

DreamWorks stock slumps 13%, analysts adopt cautious tone

Shares of DreamWorks Animation fell close to 13% in pre-market trade Friday as investors reacted to a new strategic plan that calls for the slicing of 500 jobs, or 18% of its workforce, and the scaling back of original filmmaking.

Jan 23 09:16

Deere to layoff 910 employees in Iowa, Illinois

Deere & Co. said it will place 910 employees on "indefinite layoff," from facilities in Iowa and Illinois that make agricultural equipment.

Webmaster's Commentary: 

This is the backlash from the world's rejection of American GMO produce!

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