Nov 14 16:11

Has The Post-Crash Rally Run Its Course?

Nov 14 12:15

Gold And Silver – Sellers Remain In Control

Nov 14 09:43

The Ultimate Global Collapse Indicator

Nov 14 07:56

Bank of England: Automation to Eliminate Roughly Half of U.S. and British Jobs

One central bank has some frightening predictions when it comes to job stability in the future. 80 million jobs in the United States are at risk of being taken over by robots in the next few decades, a Bank of England (BoE) official warned on Thursday. With U.S. data showing that total nonfarm employment hit 142.6 million in October, that’s roughly over half of the total jobs at risk.

Nov 14 07:52

Putin not going to APEC summit in Philippines. PM Medvedev will go instead

Russian President Vladimir Putin will not attend the APEC summit that will take place on November 17-18 in the Philippines, RBC reports. Prime Minister Dmitry Medvedev will go to the summit instead. The reason for the decision has not been specified.

President Putin will go to Turkey for the G20 summit on November 15-16. Originally, it was planned that Putin would visit one of Russian regions on November 17 before going to the Philippines on November 17-18 - See more at:

Nov 13 19:00

Trudeau's boldness test: The TPP

But the real measure of how bold Trudeau will be is how he deals with the economy. After all it is the economic ministries -- finance, the treasury board, international trade most prominent among them -- that are most directly responsible for managing capitalism, something every federal government has to do no matter what their ideology is. The Liberals have always been a Bay Street party (FYI Bay St. in Toronto = Canada's Wall St.) and any move away from that tradition seems unlikely. The biggest test Trudeau will face on this front is right on the top of the issues pile: the Trans Pacific Partnership trade agreement.

First off, let's be clear that these "trade" agreements are only nominally about trade -- they are actually, as economist Jeffrey Sachs says "investment protection agreements." And for every Canadian government starting with Brian Mulroney's the almost exclusive economic policy for this country has been a focus on attracting international investment. Finance Minister (and later Prime Minister) Paul Martin made this explicit -- and set out to attract foreign investors by lowering the cost of doing business with labour flexibility programs, slashed corporate taxes and a 40 per cent reduction in federal social spending. Stephen Harper never saw a trade/investment deal he didn't like or wouldn't sign no matter how bad the terms were for Canada.

Nov 13 17:55

Elegy For 600

Justice For Chinese (JFC) is the brainchild of Andrew Kwong also known as (aka) Joe Canuck, aka The People’s Artist. The main objective of JFC is to seek legal redress and monetary compensation for all Chinese peoples from the Rothschild Jews who destroyed China and the lives of an estimated 600 million Chinese who were addicted to their deadly opium.

Nov 13 16:10

Disease Victims Often Shut Out of Workers' Comp System

Lancaster, Pennsylvania - Finding the first bit of evidence that Gene Cooper's job damaged his brain and destroyed his health was the easy part. That only took his wife four years, eight doctors and at least a dozen tests.

The hard part: Getting his former employer to pay.

Nov 13 15:50

The Age of Machines and Unemployment: “Robots Could Steal 80 Million US Jobs”

Central banks are officially gearing up for the impending reality of human obsolescence.

While the Bank of England forecast the loss of 80 million American jobs, billionaire Jeff Greene recently commented on how American workers will soon be put to pasture:

“When we first had the internal combustion engine — look at all the horses they just put out to pasture... We are going to be destroying jobs at a record clip.”

“Artificial intelligence (AI), right now, can do the task of a 100 IQ person… Ten years from now artificial intelligence will do the tasks of a 120 IQ person.”


Nov 13 14:34

Keiser Report: Dead Industries, Zombie Banks & Broken Markets

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the memory of our living economy and consumers in the life of the dead banks, markets and economies.

Nov 13 13:36

It's Official: Barack Obama Wants To "Help" You Manage Your Retirement Savings

Last week the Obama administration officially rolled out its MyRA program.

MyRA is a special form of IRA that ‘helps’ Americans save for retirement by making it easy for you to loan your money to the federal government.

Like a retirement account, the idea is to save a little bit every month or every year to be set-aside in a tax-advantageous way for retirement.

The big catch here is that for MyRA accounts, there’s only one investment: US government bonds.

At present, US government bonds fail to pay interest rates that meet the government’s officially published rate of inflation.

So with these MyRA accounts, when adjusted for inflation, you’re guaranteed to lose money.

The Obama administration, of course, entirely dismisses this criticism, saying that these MyRA accounts are for “people who aren’t saving and who have a fear of losing their principal.”

It’s pretty appalling when you think about it.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Nov 13 13:17

When Mitt Romney Came To Town — Full, complete version

Webmaster's Commentary: 

The GOP, worried that Trump is winning, Carson is self-destructing, and Jeb Bush cannot get out of first gear, are talking about drafting Mitt Romney as their candidate, on the principle that choosing a new President is simply too important to be left up to the American people!

Well, let's kill that idea right at the start!

Nov 13 12:58

Popular Delusions …Even If “Popular” Are Still Delusional

Geopolitically you see the United States losing power at every turn to the hands of China/Russia and the rest of the world. Power is being supplanted in trade, finance, manufacturing and production, socially and even militarily. This loss of power is unmistakable …but, none of this matters because the stock market is up, credit markets are still stable (on the outside), the dollar is firm versus other fiat currencies and gold has been pressed down and down. THIS is now the “new normal” and nearly everyone is extrapolating it forward “forever”.

Sorry to break the news to you but ALL of this is unsustainable. You need not even take Bill Holter’s word for this, just listen to the number crunchers and bean counters regarding Social Security, Medicaid, pensions, healthcare, military spending, the real economy and on and on. In many cases, the “bean counters” are previous federal employees like David Stockman and David Walker, who better would know?

Nov 13 12:12

Demystifying the Selloff in U.S. Stocks

Nov 13 11:08

Greece, Europe hid Athens’ debt to keep it in Eurozone: corruption expert

The world is losing the battle against corruption despite a great amount of resources being directed at the problem.

Nov 13 11:02

The Netherlands. Refugees complaining.

Webmaster's Commentary: 

"They promised us a better life."

Who?!? Who promised these refugees a better life?

Nov 13 10:58

Americans are buying tons of gold

This summer's market mayhem caused Americans to buy gold bars and coins at levels unseen since the financial crisis.

When people are scared about the economy and financial markets, they rush to gold. Boy, were they worried in recent months.

Nov 13 10:57

Obamacare is imploding and Republicans are unprepared

Many problems predicted by Obamacare opponents are becoming reality, but Republicans are not ready to deal with the consequences should one of their candidates win the White House.

To be clear, any fantasies about Obamacare "collapsing under its own weight" and thus relieving Republicans of the responsibility of governing are just that — pipe dreams. Whatever the problems facing Obamacare, the law won't simply go away on its own. By the time the next president takes office, it will still be covering millions of Americans and imposing a raft of regulations on individuals and businesses.

Webmaster's Commentary: 

Many a bad law are perpetuated because someone's name is on them! Obamacare. The Brady Bill, etc.

Nov 13 10:51

Our Economy Is Not Working: Joseph Stiglitz on Widening Income Inequality & the Fight for $15

The fight over income inequality gained national attention when fast-food workers walked off the job in hundreds of cities across the country on Tuesday.

Nov 13 10:48


After much delay, an important space bill has finally passed in the Senate. The Space Act of 2015 would do a lot of things to encourage the private space industry–including extending the “learning period” wherein fledgling spaceflight companies can operate without too much government oversight. It would also give companies the rights to the resources they might one day extract from asteroids, such as platinum and water (which, believe it or not, is a valuable resource in space).

Webmaster addition: Nobody made mining in space illegal. This is just the government positioning itself to grab a piece of the action when it finally becomes a reality.

Nov 13 10:39


Centrally issued money optimizes inequality, monopoly, cronyism, stagnation, low social mobility and systemic instability. If we don’t change the way money is created and distributed, wealth inequality will widen to the point of social disorder. Everyone who wants to reduce wealth inequality with more regulations and taxes is missing the key dynamic: the monopoly on creating and issuing money necessarily widens wealth inequality, as those with access to newly issued money can always outbid the rest of us to buy the engines of wealth creation.

Nov 13 10:38


Let’s say an individual has saved $100,000 in cash. He keeps the money in the bank, which pays him less than 1% interest. Rather than earn this low rate, he decides to loan the cash to an individual who wants to buy a rental home at 4% interest.

There’s a tradeoff to earn this higher rate of interest: the saver has to accept the risk that the borrower might default on the loan, and that the home will not be worth the $100,000 the borrower owes.

The bank, on the other hand, can perform magic with the $100,000 they obtain from the central bank. The bank can issue 19 times this amount in new loans—in effect, creating $1,900,000 in new money out of thin air.

Webmaster's Commentary: 

The question must be asked; why does the government borrow money at interest from a private central bank (the Federal Reserve) when constitutionally, it is allowed to create money as a public utility?!?

The Federal Reserve is no more "Federal" that is the Federal Express, and that is a reality to which most Americans need to open their eyes, and right the heck now.

Nov 13 09:48

WTI Crude Tumbles To $40 Handle, Fastest Plunge Since December 2014

Having fallen for 7 of the last 8 days, WTI Crude just traded with a $40 handle for the first time since August 27th. Oil is now down over 14% in the last 8 days, the fastest collapse since December 2014...

Nov 13 09:47

Retail Stocks Are Crashing At The Fastest Pace In Over 4 Years

The S&P Retail Sector ETF is down almost 9% in the last 8 days. That is the fastest collapse in this bellwether industry since August 2011... and it may be about to get a lot worse...

Nov 13 09:41

Warren Buffett Has Lost It…Again

Nov 13 09:36

Finland emerges as the 'new sick man of Europe' as euro's worst performing economy

Finland has emerged as the eurozone's worst performing economy, contracting by a stark 0.6pc in the third quarter.

The northern creditor nation has been mired in stagnation for the last three years, leading its finance minister to dub it "the new sick man of Europe".

Finland's economic problems stem from a collapse in demand from neighbouring trade giant Russia, highly uncompetitive labour costs, and the decline of its most successful company - Nokia. The country is also grappling with chronic ageing and has one of the highest rates of government spending in Europe.

Nov 13 09:33

FLASHBACK - Big Banks Funded the Nazis and Launched a Coup Against the President of the United States

By the late 1930s, Brown Brothers Harriman, which claimed to be the world’s largest private investment bank, and UBC had bought and shipped millions of dollars of gold, fuel, steel, coal and US treasury bonds to Germany, both feeding and financing Hitler’s build-up to war.

Between 1931 and 1933 UBC bought more than $8m worth of gold, of which $3m was shipped abroad. According to documents seen by the Guardian, after UBC was set up it transferred $2m to BBH accounts and between 1924 and 1940 the assets of UBC hovered around $3m, dropping to $1m only on a few occasions.

UBC was caught red-handed operating a American shell company for the Thyssen family eight months after America had entered the war and that this was the bank that had partly financed Hitler’s rise to power.

Nov 13 09:15

Meet The Privileged Yale Student Who Shrieked At Her Professor

The infamous “Shrieking Girl” at Yale University who now famously berated a professor for not making Yale a “safe space” is from a relatively privileged background and has been frantically moving to delete her online presence, an investigation by The Daily Caller News Foundation reveals. Also, despite shrieking “Who the fuck hired you?” in the notorious video, it turns out the student herself played a role in his hiring.

Nov 13 09:01

GM to Import Chinese-Made Buick SUV

General Motors Co., fresh off agreeing to a new union contract that is expected to drive up its U.S. labor costs, plans to become the first major auto maker to sell Chinese-made cars in the U.S.

Nov 13 09:00

When Thomas Friedman Ridicules Campaign Economics, the Joke’s on Him

Thomas Friedman, who once said Germany would demand that Greeks work like Germans as a condition of bailout funds (Greeks have long worked many more hours on average), allowed his column (New York Times, 11/11/15) to stray into economics again. Not surprisingly, he gets some of the big things wrong.

Nov 12 18:31

ISPs say the “massive cost” of Snooper’s Charter will push up UK broadband bills

UK ISPs have warned MPs that the costs of implementing the Investigatory Powers Bill (aka the Snooper's Charter) will be much greater than the £175 million the UK government has allotted for the task, and that broadband bills will need to rise as a result.

Bend over and spread 'em!

Nov 12 18:24

New World Next Week with James Evan Pilato

looting countries to profit banksters, paid 'patriotism', 'offshoring' a town tax-wise

Nov 12 18:06

4 Harbingers Of Stock Market Doom That Foreshadowed The 2008 Crash Are Flashing Red Again

So many of the exact same patterns that we witnessed just before the stock market crash of 2008 are playing out once again right before our eyes. Most of the time, a stock market crash doesn’t just come out of nowhere. Normally there are specific leading indicators that we can look for that will tell us if major trouble is on the horizon.

Nov 12 17:04

The Bitter, Crushing Poverty Of Appalachia Is A Preview Of What Is Coming To The Rest Of The Country

What do you say to people that have completely lost all hope that things will ever get any better? The mountains of Appalachia stretch all the way from southern New York to northern Mississippi, and nestled within those mountains are dozens upon dozens of little towns that are so impoverished that they look like they have been through a war.

Nov 12 16:51

The Most Devious Liars in the Room : Government bean counters

There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

Nov 12 16:46

Regardless Of Sanctions, Russia Recession Ends In 2016

Russia’s economy is still contracting, but the recession will end in 2016 if oil stays steady-to-higher from where it is now, Barclays Capital said on Thursday.

Webmaster's Commentary: 


Nov 12 16:44

The President and the Rule of Law

pushing back on 'stroke of the pen, law of the land - pretty cool, huh?'

Nov 12 16:36

ObamaTrade Is ObamaCare, But With More Coercion

Remember this phrase? “If you like your present health care plan, you can keep it.” -- The President is not even pretending to allow any freedom of choice with ObamaTrade, aka the Trans-Pacific Partnership. ObamaTrade is to trade what ObamaCare is to medical care: a bureaucratic monstrosity.

Nov 12 16:28

Kraft Heinz and Alcoa among companies cutting hundreds of jobs in upstate New York

Last week Kraft Heinz announced plans to close seven plants nationwide and the layoff of an additional 2,600 workers over the next 12 to 24 months, bringing the total announced layoffs nationwide to more than 5,000. Included in the plants slated for closure is the one in Campbell, New York, a plant with 393 workers.

Nov 12 16:24

This Is How Fossil Fuels Die

Nov 12 16:12

Big Banks Funded the Nazis and Launched a Coup Against the President of the United States

The relationship between Chase and the Nazis apparently was so cozy that Carlos Niedermann, the Chase branch chief in Paris, wrote his supervisor in Manhattan that the bank enjoyed “very special esteem” with top German officials and “a rapid expansion of deposits,” according to Newsweek.

Niedermann’s letter was written in May 1942 five months after the Japanese bombed Pearl Harbor and the U.S. also went to war with Germany.

Nov 12 15:09

British academics warn about Brexit

Britain’s leading academics and scientists say a British exit from the EU would be catastrophic for universities and scientific research.

Nov 12 13:47

Hillary Clinton no friend of working class: Analyst

Low-skilled workers in the United States have increasingly failed to earn a living wage due to corporate greed in the country, an issue that American politicians only address in times of elections, says a political analyst.

Nov 12 13:43


In a little-known speech at the United Nations University, renowned Nobel Prize-winning economist Joseph Stiglitz criticised Western approaches to addressing the global economic crisis for being obsessed with market solutions that cannot work. His remarks were made just two months before the Organisation for Economic Cooperation and Development (OECD) issued its latest forecast of a “deeply concerning” slowdown in global trade, which the group says has dropped perilously close to levels “associated with global recession.”

Nov 12 13:37

IMF may consider adding yuan to its currency basket in December

Alexey Mozhin, IMF executive director for Russia told TASS on Thursday. "So far the date has not been defined and is not on the agenda. But there are expectations that it will be very soon. End of November - early December," Mozhin said when taking part in the conference on the development of the BRICS countries (Brazil, Russia, India, China, South Africa) in the Russian Embassy in Washington. He also added that he expects a positive decision on the matter.

Nov 12 13:26

Greece mayhem: Fierce street clashes, Molotov cocktails, rioting amid strike in Athens

A labor strike in the Greek capital has turned violent, with demonstrators hurling Molotov cocktails at police. Officers have responded with tear gas. The protesters are rallying against government austerity measures.

Labor union members have walked off their jobs for 24 hours, protesting in Athens' central square.

Nov 12 13:16

U.S. charges three (ISRAELIS) in huge cyberfraud targeting JPMorgan, others

U.S. prosecutors on Tuesday unveiled criminal charges against three men accused of running a sprawling computer hacking and fraud scheme that included a huge attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit. Gery Shalon, Joshua Samuel Aaron and Ziv Orenstein, all from Israel, were charged in a 23-count indictment with alleged crimes targeting 12 companies, including nine financial services companies and media outlets including The Wall Street Journal. Prosecutors said the enterprise dated from 2007, and caused the exposure of personal information belonging to more than 100 million people. “By any measure, the data breaches at these firms were breathtaking in scope and in size," and signal a "brave new world of hacking for profit," U.S. Attorney Preet Bharara said at a press conference in Manhattan.

Nov 12 13:12


he “war on drugs” costs Americans a staggering amount of money every year that it persists. Despite the billions they receive, federal, state and local law enforcement have a proven inability to stem the flow of drugs on the nation’s streets. Since Richard Nixon declared a war on drugs in June 1971, the cost of that “war” had soared to over $1 trillion by 2010.Over $51 billion is spent annually to fight the drug war in the United States, according to Drug Policy Alliance, a nonprofit dedicated to promoting more humane drug policies.

Nov 12 12:07

With the Economy in Shambles, More Americans Turn to Squatting: “Willing to Take the Risk”

The growing clash of squatters and abandoned properties suggests a boom-bust housing disaster for the economy.

Now, 8 On Your Side uncovered training manuals on the internet. They teach how to get away with squatting.

The handbooks are brazen. A pamphlet for sale on Amazon for $61.20. An entry on Wiki-How entices tells squatters how to “take a whole house from someone if you’re willing to take the risk.”

Btw, ridiculous propaganda from the above demonizing squatters as criminals.


Nov 12 11:27

These 425 Goldman Bankers Just Hit The Jackpot

It's that time of year.... when the bank-that-does-God's-work chooses who to bless with mass affluence. This year 425 Goldman Sachs' employees were annointed "Managing Directors" which according to means an average annual comp of approximatley $1 million.

Nov 12 11:23

Climate risk could undermine investments, report warns

A report has warned that investors could be hit hard amid changes in short-term market swings, triggered by climate impact concerns.

University of Cambridge experts said global investment portfolios could see losses of up to 45%.

No investor was "immune from the risks posed by climate change", they added.

Nov 12 11:21


Nov 12 10:59

Federal Reserve Admits It Has NO IDEA What It’s Doing

Federal Reserve Chair Janet Yellen is stressing the need to review the unconventional monetary policies that central banks around the world deployed in response to the 2008 global financial crisis.

She said Thursday that the post-crisis period offers policymakers an opportunity to assess the effectiveness of the tools and better understand the impact of new regulation.

“Policymakers have to carefully weigh the advantages and disadvantages of alternative monetary implementation frameworks in the presence of new policy tools,” Yellen said in remarks at a two-day research conference sponsored by the Fed.

Translation: We have no idea what’s going on, or whether or policies are helping or making things worse.

Nov 12 10:31

Students across U.S. to march over debt, free public college

Students were set to walk out of classrooms across the United States on Thursday to protest ballooning student loan debt for higher education and rally for tuition-free public colleges and a minimum wage hike for campus workers.

Nov 12 10:29

Heavy-Equipment Dealer Finning Slashes 1,100 Jobs

Finning International Inc., the world’s largest dealer of Caterpillar Inc. equipment, said Thursday it would slash another 1,100 jobs as it continues to grapple with weak demand, underscoring the impact the commodity slump is having on the heavy-equipment sector.

Nov 12 10:26


It was one of the greatest disappearing acts of modern times. Amidst a swirl of allegations and rumors that the Nugan Hand bank was involved in arms smuggling, drug-running, and covert operations for the CIA, the institution’s American founder vanished from Australia. Thirty-five years later, that man, Michael Jon Hand, was tracked to a small town in Idaho where he has been living under the name of Michael Jon Fuller. Hand was found by an Australian writer, Peter Butt, whose just-released book, “Merchants of Menace,” discloses Hand’s whereabouts after decades of mystery.

Nov 12 10:20


A federal immigration program created to help American companies hire foreign workers with special skills has been overrun with applications by outsourcing firms, and in the process, has cost U.S. citizens employment opportunities.

Each year in April, immigration officials accept applications for H-1B visas, which are awarded through a lottery system. Each year, 85,000 are granted. Increasingly large global outsourcing companies have flooded the system with applications, according to The New York Times, boosting their odds of getting H-1Bs and diminishing those of individuals trying to get one. One firm, Tata Consultancy Services, obtained 5,650 of the available visas last year.

Webmaster's Commentary: 

With a just government, the loophole allowing this to happen would be fixed.

However, I would be reasonably sure that various of our alleged Congressional representatives are being " financially encouraged" by the large companies which do this, making obscene profits in the process of taking away American jobs, not to allow that to happen.

Nov 12 10:11


The Tory leader is willing to offer a massive £275million in taxpayer’s cash to Turkey over the next two years to help it cope with the refugee crisis. The generous budget adds to the massive £200million pledged to help African countries address problems which have driven migrants out of their home countries – bringing the total offered to a staggering half billion pounds of taxpayers’ cash.

Nov 12 10:09


The next generation of children born in Britain “will not know what money is”, the boss of Apple has predicted. Tim Cook, the chief executive of technology giant, forecast the death of cash by the time current university students have a family.

Nov 12 10:07


Having exposed the world yesterday to the 2-mile long line of tankers-full'o'crude heading from Iraq to the US, globally the glut is becoming gargantuan. While the crude oil tanker backlog in Houston reaches an almost unprecedented 39(with combined capacity of 28.4 million barrels), as The FT reports that from China to the Gulf of Mexico, the growing flotilla of stationary supertankers is evidence that the oil price crash may still have further to run, as more than 100m barrels of crude oil and heavy fuels are being held on ships at sea (as the year-long supply glut fills up available storage on land). The storage problems are so severe in fact, that traders asking ships to go slow... and that is where we see something very strange occurring off the coast near Galveston.

And unlike the last oil price collapse during the financial crisis only half of the oil held on the water has been put there specifically by traders looking to cash in by storing the fuel until prices recover.

Nov 12 09:17

What Copper Just Said about China

Nov 12 09:10

Daisy Luther: Food As Wealth Preservation

Nov 12 09:01

Four US Firms With $4.8 Billion In Debt Warned This Week They May Default Any Minute

The last 3 days have seen the biggest surge in US energy credit risk since December 2014, blasting back above 1000bps. This should not be a total surprise since underlying oil prices continue to languish in "not cash-flow positive" territory for many shale producers, but, as Bloomberg reports, the industry is bracing for a wave of failures as investors that were stung by bets on an improving market earlier this year try to stay away from the sector. "It’s been eerily silent," in energy credit markets, warns one bond manager, "no one is putting up new capital here."

Nov 12 09:01

The 60-Second Summary Of Europe's Latest Crisis

Since the creation of the European Union, and its mutant cousin, the common currency Eurozone, it seems that Europe has been in a state of constant crisis... which, as a very prophetic AIG presentation foresaw has been precisely the point from day one. But while Greece is no longer a source of stress, now that the insolvent Mediterranean country gave up and conceded its sovereignty to its European overlords, Europe now finds itself in what many say is a far more serious crisis - one in which the cultural sovereignty of Europe itself is at risk from an unprecedented wave of mideast migrants which are entering the continent by the thousands every single day.

Nov 12 08:21

Gold Bullion Demand Surges 27% In Q3 – New Chinese “Buying Spree”

- Overall demand increased by 8% year-on-year to 1,121t as selling of futures contracts and ETFs contributed to a price dip, 6% in July, which buoyed gold demand around the world.

- Total consumer demand – made up of jewellery demand – totalled 928t, up 14%.

Webmaster's Commentary: 

Yet despite increasing demand, gold prices are being kept low, which is good for the buyers, but evidence of ongoing manipulation.

Nov 12 08:11

The Stench Of Freddie Mac Is Back——An $18 Billion Spree Of Crony Capitalist Thievery

Washington’s capacity to foster crony capitalist larceny and corruption never ceases to amaze. But according to the Bloomberg story below, Wall Street’s shameless thievery from US taxpayers is about to get a whole new definition.

To wit, Freddie Mac is handing three private equity billionaires deeply subsidized debt financing in order to undertake $18 billion in rental apartment deals. According to no less an authority than Morgan Stanley, the subsidy embedded in this cheap financing amounts to 150 basis points or roughly $150 million per year on the loan amounts in play.

Yet this largesse will serve no discernible public purpose whatsoever. Indeed, over the 10-year term of these loans the bonanza will amount to billions, but it will not generate a single new unit of housing. Nor will it provide a single dollar of incremental rent relief to any low or moderate income tenant.

Nov 12 08:11

Childcare now costs more than rent. No wonder more women are opting out of the workforce

A new research paper from the Economic Policy Institute (EPI), a worker advocacy group, finds that caretaking costs have become so exorbitant that in most parts of the U.S., families spend more on childcare than they do on rent (included in that number: babysitting, nannies, and out-of-home day care centers).

Nov 12 07:52

Another Day Older and Deeper in Debt

Nov 12 07:45

12 Doomed Facts About the S.S. Edmund Fitzgerald

The wind in the wires made a tattle-tale sound
When the wave broke over the railing
And every man knew, as the captain did too
'Twas the witch of November come stealin'
-Gordon Lightfoot, "The Wreck of the Edmund Fitzgerald" (1976)

On November 10, 1975, two ships made their way in tandem across the stormy waters of Lake Superior. One was the Arthur M. Anderson, led by Captain Jesse Cooper. The other, captained by Ernest McSorley, was the S.S. Edmund Fitzgerald.

The ship was last seen on radar around 7:15 p.m. All 29 men on board were lost with it, and today, 40 years after the most famous shipwreck in Great Lakes history, the cause is still a mystery.

Here's what we do know about the S.S. Edmund Fitzgerald, and what happened to it that fateful day:

Nov 12 07:40

Putin Has It Right: Obama is Pushing Thermonuclear Armageddon

Russian President Vladimir Putin addressed the opening of a conference of defense ministry and military industrial leaders in Sochi on Tuesday, and warned, in pointed language, that President Barack Obama's policies are driving the world towards thermonuclear extinction in the very near term. In effect, Putin offered the most air-tight argument for why the President of the United States must be removed from office now.

Nov 12 06:56

Tahoe is Back: Skiers Making Turns Weeks Ahead of Schedule

It’s snowing again right now, a bad Tuesday morning for area commuters, but great news for skiers and snowboarders. Almost two feet has fallen in the past week, and temperatures have also allowed them to start augmenting Mother Nature with snowmaking in full force. The mountains aren’t just gearing up, they are gearing up way ahead of schedule.