ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 30 09:13

VIDEO -- Watch Ross Perot In The 1992 Presidential Debate Warn The American People About NAFTA And Free Trade

This is absolutely uncanny how right Perot was.

This is a historic clip that should be required viewing for everyone in America. Runs 2 minutes.

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Apr 30 09:07

Ukraine nearly doubles consumer gas prices to secure IMF aid

Urkaine's cash-strapped government on Wednesday nearly doubled average household gas tariffs in order to secure the release of billions of dollars in frozen IMF and other Western aid.
The long-delayed step is likely to play poorly with people who have already suffered from cutbacks imposed under an austerity plan set by the International Monetary Fund when it approved Kiev's $17.5-billion (15.5-billion-euro) rescue loan in 2014.
Former prime minister and current populist Batkivshchyna (Fatherland) party leader Yulia Tymoshenko called the rate hike "a crime".
But it was immediately hailed by US Ambassador Geoffrey Pyatt as a "big step forward for Ukraine's energy independence."

Visiting US Assistant Secretary of State Victoria Nuland on Wednesday also stressed that Washington's assistance was "tied to Ukraine staying on the reform course" that included strict and timely compliance with the IMF's programme.

Webmaster's Commentary: 

I have to wonder, with this incredibly steep hike in energy prices, how many Ukrainians will freeze this coming winter, because they don't have the money to pay, and just how long before the Ukrainian people will demand their government back, and held accountable?

Apr 30 07:36

Swedish Govt Spends Millions Telling Citizens To Eat Insects To End Global Warming

Vinnova, the Swedish government agency that distributes money for research and development, spending some 2.7 billion kronor (£230 million) a year has announced its latest tranche of funding for creating a greener, more sustainable future — by weaning Europe off meat. It is hoped people will want to eat a so-called “climate smart” diet instead, reports FriaTider. Green activists and the United Nations are behind such political initiatives as ‘Meat Free Mondays’ — a gateway to full vegetarianism — which are based on the premise that meat consumption is driving man-made climate change. Another method to reduce that so-called burden on the earth is replacing meat protein with that harvested from insects instead.

Apr 30 07:21

America’s Coming Tax Increase

The debt held by the public has approximately doubled since President Obama took office and is now equal to 74% of gross domestic product. It is true that with the right policy mix, economic growth—stuck at just over 2% during the Obama “recovery”—will help close federal deficits and pay down the debt. At the end of World War II, for example, the debt-to-GDP ratio was at 104% and shrank to a low of 23% by 1974. But letting growth or future belt-tightening close the gap is the exception, not the rule. More often, higher taxes are the result.

Apr 30 07:12

WILL 2016 BE THE YEAR OF THE MULTINATIONAL BANK BAIL IN ?

Enter the Bail-In (not to be confused with Bruce Lee's enter the dragon, although one might see a correlation with the bank depositors being the recipients of financial karate chops). In the infinite wisdom of many political leaders, the bail-in paradigm is now upon us with the Austrian Government also saying JA, JA to implementing the bail-in option for Hypo Alpe Adria (or should we say Heta Asset Resolution?). And of course all European Union nations were required to pass bail-in legislation for their respective countries in 2016, so do not think this applies only to Austria alone (in fact, the bail-in paradigm is also in place in Canada and the US, so do think this is native to Europe only either). And regarding this matter, a news story from late 2015 reported that The European Commission was taking legal action against the Netherlands and Luxembourg for failing to implement banking bail-in initiatives.

Webmaster's Commentary: 

If you think this cannot happen here in the US, you need to to think again, and please, very carefully.

Invest what you can in small amounts of silver and gold. Keep all currency you absolutely do not need to pay the bills under your own personal control; and do not think for one second that bank safe deposit boxes are actually "safe", during a time of financial emergency. They, and their contents can be expropriated during a time of financial stress.

As reported on 31 March, 2015 at infowars.com:

According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that “under the Patriot Act” the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make “periodic and unannounced” visits to any bank to open and inspect the contents of “selected safe deposit boxes.” Further, the DHS “shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence” any of the following items “bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature.” DHS memos also state that banks are informed that any bank employee, on any level, that releases “improper” “classified DHS Security information” to any member of the public, to include the customers whose boxes have been clandestinely opened and inspected and “any other party, to include members of the media” and further “that the posting of any such information on the internet will be grounds for the immediate termination of the said employee or employees and their prosecution under the Patriot Act.” Safety deposit box holders and depositors are not given advanced notice when failed banks shut their doors. If people have their emergency money in a safe deposit box or an account in a bank that closes, they will not be allowed into the bank to get it out. They can knock on the door and beg to get in but the sheriff’s department or whoever is handling the closure will simply say “no” because they are just following orders.

And here is another confirmation, appearing 3 April 2013, from huffingtonpost.com, giving a little more background on these procedures:

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few eurozone troika officials scrambling to salvage their balance sheets. A joint paper by the U.S. Federal Deposit Insurance Corporation (FDIC) and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds. New Zealand has a similar directive, discussed earlier here. Few depositors realize that legally, the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs. (See here and here.) But until now, the bank has been obligated to pay the money back as cash on demand. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.

Apr 30 04:59

Personal spending was weaker than forecast in March

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Millan Mulraine, deputy chief US macro strategist at TD Securities, said real personal consumption activity ended the quarter on a weak note.

"As a result, our early tracking for Q2 is now closer to the lower end of the 1.5% to 2.0% range, suggesting a very weak rebound for growth from the disappointing +0.5% q/q performance in Q1," he wrote to clients.

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Apr 30 04:29

Strikingly similar to the 2000 market top

Apr 30 04:22

For Nebraska’s Poor, Get Sick and Get Sued

Cheap court fees and looser rules make suing over medical debts as small as $60 easy. Every year Nebraska collection agencies file lawsuits by the tens of thousands.

Two years ago, the president of Credit Management Services, a collection agency in Grand Island, Nebraska, presented a struggling local family with the keys to a used 2007 Mercury Grand Marquis. To commemorate the donation, the company held a ceremony that concluded outside its offices, where the couple and their two young girls could try out their new car.

The family’s story was dire: their eight-year-old daughter’s failing kidney had led to multiple surgeries and a deluge of medical bills, according to an article in the local newspaper.

But CMS played another role in the family’s life, one the article didn’t mention. The company had previously sued the couple eight times over unpaid medical bills and garnished both of their wages. As recently as two weeks earlier, CMS had seized $156, a quarter of the girl’s father’s paycheck.

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Apr 29 16:05

Incredible Video From Space Shows How Global Free Trade Works: Tracking EVERY Ship On Earth In Realtime

Watch From Space As Every Ship On Earth Cruises The Seven Seas

Just to be clear, this is NOT an endorsement of unfettered global free trade that destroys U.S. manufacturing jobs while enriching multinational corporations and their shareholders.

This is an endorsement of cool videos from space.

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Apr 29 14:35

Puerto Rico bracing for lawsuits as country may default on loans

Puerto Rico Governor Alejandro García Padilla says the territory is bracing for countless lawsuits as it becomes increasingly likely they’ll default on their bond payments. So far, US legislatures have delayed approving a bill that would give Puerto Rico a debt-restructuring mechanism.

Apr 29 13:52

WILL 2016 BE THE YEAR OF THE MULTINATIONAL BANK BAIL IN ?

One of the recent top stories in 2016 so endemic and explicative of what is going on in banking involves the Austrian financial institution Hypo Alpe Adria, which incidentally was taken over by Austrian Government authorities in 2009 and placed into receivership under an entity named Heta Asset Resolution. Flash forward to about March of 2015, whereby it was revealed that the equivalent of US$8.5 Billion Dollars has disappeared from the balance sheet and as a result that entity has now been taken over by Austria's Financial Market Authority. So here is the first question: what were these people doing for almost 7 years? I know there was some football championships (soccer for the Americans) on television that might have diverted attention for awhile, but 7 years?

Apr 29 12:27

CLINTON, TRUMP & CORPORATION TRUST CENTER

You know things are bad when the leading contenders for President in both political parties use the same phony Delaware address as Walmart, Coca Cola, American Airlines & Apple to avoid paying taxes. Both Hillary Clinton and Donald Trump own companies registered at 1209 North Orange Street, Wilmington, DE in a two-story building known aptly as the Corporation Trust Center. More than 285,000 companies use this very same address to avoid taxes, making it the most densely populated mailing address on earth.

Apr 29 12:07

Securing Our Money Through Currency Competition

By Jp Cortez

Competition is a good thing.

It brings out the best in athletes. It brings out the best in students. It brings out the best in companies.

Since monopolies remove the positive effects of competition, however, it makes sense to reexamine one of the most detrimental monopolies that ever existed.

Most folks would probably agree that government-run monopolies like the United States Postal Service and the Department of Motor Vehicles do a lousy job of serving the public, so why should we give bureaucrats a monopoly over our money as well?...

Apr 29 11:38

Varoufakis: Brexit Would Speed Up EU Disintegration

Former Greek Finance Minister Yanis Varoufakis talks with David Gura about what he sees as potential Brexit fallout for the European Union and EU's ability to withstand another shock similar to the financial crisis of 2008.

Apr 29 11:33

When Will Oil Producers Put Rigs Back To Work

Apr 29 11:29

‘Brazil Is One Of The Most Unequal Countries In The World’

The situation in Brazil—where President Dilma Rousseff faces impeachment charges spurred by legislators, many of whom are themselves under investigation for corruption—is hard to grasp at a glance, but glances are all we get in US media. And when it comes to Latin America, elite media haven’t been shy about their disaffection for leftist governments, sometimes going to great lengths to paint them as delusional and dangerous to the region, and somehow to the US.

Apr 29 10:11

Widespread rain, higher terrain snow forecast for northern NM

Pacific storm system is moving across the state with potential for widespread rain, a few storms and higher terrain snow across north and far east New Mexico Friday.
View: Interactive Doppler Radar
A Winter Storm Warning is in effect for the eastern slopes of the Sangre de Cristos until midnight.
Interstate 25 has reopened in both directions from Raton to the state line after crews cleared snow packed roads Friday morning.
Through the day, we'll continue to see the chance for scattered showers and more snow in higher terrain.

Apr 29 09:59

Why Real Reform Is Now Impossible

Central banks have transformed the market–in stocks, bonds, commodities and risk–into the signaling mechanism that tells us all is well. Even though the real-world finances of the bottom 95% continue deteriorating, a rising stock market and suppressed measures of risk signal that the economy is doing well. If you’re not doing well, it’s your personal problem; the status quo is fine and needs only minor tweaks.

Elevating the market into the oracle of economic health creates a systemic risk:If the market tanks, the status quo is called into question. People start asking, is it truly a wonderful arrangement that benefits us all, or is it really just a skimming machine that funnels money and wealth from the many into the voracious maws of the few?

Central banks thwart this existential danger to the status quo by rescuing the market every time it approaches the market clearing event level. (see chart) In a market clearing event, risky loans and bets are liquidated, credit dries up, risk soars and the price of assets falls to levels that once again make fundamental sense.

Apr 29 09:54

Watch Obama's Arrogance As He Issues A DIRECT THREAT To British Voters Not To Leave The EU

The arrogance of President Obama knows no bounds. This is a very interesting clip for anyone who hasn't seen this yet.

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Apr 29 09:51

Yanis Varoufakis: Bailouts Of Greece Are Pretense For Massive Payout For German And French Banks

We continue our conversation with former Greek Finance Minister Yanis Varoufakis as the White House is backing calls for Greece to continue to implement widespread austerity measures, following President Obama’s meeting with German Chancellor Angela Merkel earlier this week.

Apr 29 09:39

White House struggles to explain weak economy as Obama boasts of job growth

The White House labored Thursday to explain a first-quarter economic report showing the weakest growth in two years, even as President Obama was trumpeting his mastery of the economy in a New York Times Magazine interview.

The Department of Commerce reported that U.S. gross domestic product rose 0.5 percent in the first quarter of 2016, the third straight sluggish start to a year. Consumer spending and business purchases both fell, continuing trends that could have ominous implications for Hillary Clinton’s presidential campaign as she tries to claim the mantle as Mr. Obama’s successor.

Webmaster's Commentary: 

The reason Obama can boast about "... his mastery of the economy." is very simple; he is completely delusional, and divorced from what the consequences of his economic, and geopolitical, choices have been for the American people.

Good, hard-working Americans whose middle-class lives had been the result of manufacturing in this country have seen their lives destroyed, courtesy to the ever-growing outsourcing/offshoring of those jobs to the cheapest possible labor pools in the world.

And let's face reality here, folks; at the end of the day, President Obama is no less beholden to his corporate masters than are his Republican colleagues, and that's the truth, period, end of discussion.

Apr 29 09:12

Forget the NY Times. Here’s Obama’s Real Legacy.

Yesterday’s New York Times devoted 6,000 words and a main feature to nothing short of an all-out defense of Obama’s economic legacy. In the process, they went full Keynesian.

From the opening paragraph that detailed Obama’s singlehanded efforts to rebuild the U.S. economy following the 2008 financial crisis, it was clear that author Andrew Ross Sorkin is more than simply a member of the lapdog media. Like a true believer, Sorkin bowed down at the altar of Obama’s government.

To hell with the real story behind the data. To hell with any logical thought processes. To hell with the notion that free markets, not governments, produce opportunity and prosperity.

As Sorkin tells it, the U.S. is now quite peachy.

Apr 29 09:09

VOLUME COLLAPSES AS CHINA COMMODITY EXCHANGES ORDERED TO "CURB SPECULATION"

We have been warning about China's speculative commodity trading bubble - spewing false signals around the world about the strength of the real economy - and now, as we suggested previously, Chinese authorities have decided to burst yet another bubble they created.Reuters reports that China's Securities regulator has ordered three major commodity exchanges to "control intraday speculation in commodity markets," ordering them to "curb trading for investors with no commodity industry background." Volume has crashed... and just as it did in the equity markets, price will follow.

As Reuters reports, China's securities regulator ordered the country's major commodity futures exchanges this week to control speculative trading activity, sources told Reuters, after a surge in prices sparked fears of a boom-and-bust cycle.

Webmaster's Commentary: 

That first chart sure looks as though the Chinese market has fallen off the proverbial cliff!

Apr 29 09:05

“NESTLÉ IS TRYING TO BREAK US” TOWN FIGHTS TO STOP BOTTLED WATER MEGACORP FROM STEALING THEIR WATER

A small town in Pennsylvania is the latest to be targeted by Nestlé Waters North America, which, in typical fashion, is seeking to extract millions of gallons of freshwater to bottle and sell for an obscene profit — whether or not local residents approve.

Nestlé sneakily began testing waters in the Kunkeltown area as far back as 2012; but residents wouldn’t have discovered the desire for its water at all had the mega-corporation not rented an office in the community center, as Truthout reported. In fact, Nestlé’s plans comprise no small operation, as Truthout explained:

Webmaster's Commentary: 

It's not only the obscene profits from these kinds of practices; it is also that the people who live here get absolutely nothing from Nestle's sale of that water.

But that having been said, it appears that the corporate managers of Nestle have the morals of a dead tree stump, and are so collectively crooked that they have to screw their socks on in the morning.

(And I WILL get angry emails from dead tree stumps, protesting that last characterization, I can assure you!!)

Apr 29 09:03

Head Of Deutsche Bank "Integrity Committee" Fired Due To "Overzealousness"

Perhaps it is merely a coincidence but just weeks after Deutsche Bank became the first bank to admit to rigging the gold market (and agreeing to rat out fellow manipulators) yesterday afternoon the head of Deutsche Bank's "integrity committee" announced he would resign two years before his time, which is a polite way of saying he was fired.

As the FT reports, Georg Thoma has been fired from Deutsche Bank’s supervisory board two years before his contract ends "after coming under fire from other board members in a battle over how to deal with the German bank’s past scandals."

Webmaster's Commentary: 

Apparently the job was to make it LOOK like Deutsche Bank had integrity, not actually do anything about it. :)

Apr 29 08:58

FRENCH ASSEMBLY ADOPTS RESOLUTION CALLING TO END ANTI-RUSSIAN SANCTIONS IMPOSED BY EU

Fifty-five members of the French National Assembly have supported the resolution calling on the government not to extend the sanctions imposed on Russia by the EU. Forty-four voted against and two abstained. Of the 577 deputies in the National Assembly, the lower house of the French Parliament, 101 took part in the vote.

The resolution, calling on the French government to protest extension of EU sanctions against Russia, was submitted by 85 French MPs.

Thierry Mariani, member of the center-right Republicans party who initiated the parliamentary debate, says the document "calls on the French government not to extend the restrictive measures and economic sanctions imposed on Russia by the European Union."

Webmaster's Commentary: 

It looks as though the EU sanctions against Russia, which were never based on the truth, or the logic of how things were playing out on the ground in Crimea or Ukraine, are starting to crumble, thanks to this legislation in France; vive la France!

Apr 29 08:57

Significant Premium Hikes Expected Under Obama Health Law

Expect insurers to seek significant premium increases under President Barack Obama’s health care law, in a wave of state-level requests rippling across the country ahead of the political conventions this summer.

Apr 29 08:01

“We Were Elected To Say No To The Creditors”: Varoufakis On Resigning As Greek Finance Minister

The International Monetary Fund is demanding additional austerity measures from Greece if it does not hit its budget targets.

Apr 29 07:55

The Devil Capitalism Makes Us Destroy Our Planet

Okay, here’s the proposition — you can have a good job, decent pay, lots of overtime, but only if you give me your grandchildren or maybe your great-grandchildren.

Would you make this deal with the devil?

Apr 29 07:36

Riots engulf French streets: Protesters torch a Porsche as 170,000 students and activists clash with police over labour laws

A Porsche was set alight by angry protesters who took to the streets of western France to demonstrate against a hotly contested labour bill.

The rioters in Nantes were among 170,000 of workers and students involved in violent clashes across France which left three policemen with serious injuries in the French capital.

Security forces in Paris responded with tear gas as masked youths threw bottles and cobblestones, as violence erupted in Nantes, Lyon and Toulouse and 57 people were arrested in Marseille today. In total, 124 people were arrested nationwide.

Apr 29 07:35

Billionaire investor Carl Icahn sells entire stake in Apple

Carl Icahn, the billionaire activist investor who has long been one of the most prominent voices declaring the company to be undervalued, says he has sold his entire stake in the technology firm, citing the risk of China’s influence on the stock.

After years of high growth, reaching triple-digit percentage points in 2015, Apple now sells more in China than it does in the whole of Europe. But sales in the country are now shrinking, with revenue dropping 26% year-on-year in the company’s latest quarterly earnings.

Apr 29 07:27

Dollar Selling Panic Coming-John Williams

Economist John Williams has long predicted the $16 trillion in U.S. dollar assets held outside of America will be sold in a panic. The time draws near for that scenario to unfold, and Williams explains, “When people start selling the dollar, or dollar denominated assets, you will see the value of the plunge. We have had a remarkable rally in the dollar since mid-2014, and it is up over 30%. It is going to be going down by more than that, and we are going to be headed to new lows.

Webmaster's Commentary: 

Normally, a lower dollar would be great for US exports ... if we manufactured of grew anything anyone wanted to buy.

Apr 29 05:14

Anti-Trump Riots Go Primal: “Demonstrators Smash Up a Squad Car, Punch a Donald Supporter”

Those who see violence as an inevitable result of this tumultuous election cycle are being proven right.

Chances are that we haven’t seen anything yet…

Protesters clash with cops at California Trump rally: Hundreds of Mexican flag-waving demonstrators smash up a squad car, punch a Donald supporter and scuffle with riot police amid angry scenes

Read more at SHTFplan.com

Apr 28 16:20

Future Trends And Why Gold Is Going To Go Up

Apr 28 15:19

"No Brainer" - Carl Icahn Dumps Entire Stake Of AAPL

And just like that the "no brainer" party's over. Remember when in January 2014 Carl Icahn laid out his extensive thesis on why being long AAPL is the best investment out there? Or when a little over a year later, hoping for even more stock buybacks (even as he was decrying short term activism) he boosted his price target on AAPL to $240? All that is now over and moments ago Carl Icahn admitted that the hedge fund hotel holding AAPL stocks, which consisted of 163 hedge funds as of December 31, has one less member, and he has sold his entire Apple position.

Apr 28 15:18

Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short'

Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made "the financial system substantially more stable."

Apr 28 15:17

Debacle At Doha: The Collapse Of The Old Oil Order

Sunday, April 17th was the designated moment. The world’s leading oil producers were expected to bring fresh discipline to the chaotic petroleum market and spark a return to high prices. Meeting in Doha, the glittering capital of petroleum-rich Qatar, the oil ministers of the Organization of the Petroleum Exporting Countries (OPEC), along with such key non-OPEC producers as Russia and Mexico, were scheduled to ratify a draft agreement obliging them to freeze their oil output at current levels. In anticipation of such a deal, oil prices had begun to creep inexorably upward, from $30 per barrel in mid-January to $43 on the eve of the gathering. But far from restoring the old oil order, the meeting ended in discord, driving prices down again and revealing deep cracks in the ranks of global energy producers.

Apr 28 15:04

The House Just Voted To Give Wall Street Billions From Americans’ Retirement Savings

The House voted 234 to 188 Thursday to undo a rule proposed by the Labor Department earlier this month that would require anyone getting paid to provide retirement investment advice to act in the best interest of retirees. Many people think that’s already how things work, but it isn’t.

The way things work right now is that brokers who oversee retirement savings accounts can be paid extra to steer their clients into unnecessarily expensive funds or excessively risky investments, without disclosing that fact to their clients. That sort of conflicted investment advice costs Americans saving for retirement $17 billion a year, according to the White House Council of Economic Advisers.

To remedy the situation, the Obama administration proposed a fiduciary rule to keep Wall Street from taking so much money in fees from retirement accounts. The financial industry has opposed the rule from the start, saying it will raise costs and limit the advice investors can receive.

Apr 28 15:02

Weighing Obama’s Economic Legacy–With A Thumb On The Scale

Andrew Ross Sorkin (New York Times, 4/28/16) presented a confused account of the state of the economy and economic policy under President Barack Obama. The account repeats many self-serving comments from Obama without comment and offers little useful context to readers.

Apr 28 12:08

Ex-CEO Says $15 Wage “Will Trigger Massive Layoffs”: McDonald’s Will Replace Jobs with Kiosks

The future of fast food service will involve much less human interaction.

Labor organizers have been demanding an increase in wages… Rather than raise prices, McDonalds is more likely to replace people with self-service computer kiosks so they do not have to pay the high wage. […] Over a million American youths may otherwise be out of a job.

Read more at SHTFplan.com

Apr 28 11:01

Inequality Will Get Worse Until There’s A Revolution

Imagine, after a deep sleep, you suffered the fate of Rip Van Winkle and woke in the spring of 2040. What might you find?

Among other things, maybe a presidential candidate railing against America’s concentration of wealth. Except this time, it’s not the 1 percent that owns as much wealth as the bottom 90 percent — it’s the top hundredth of a percent.

Apr 28 10:19

DRIVERLESS TRUCKS ALREADY BEING TESTED; THREE MILLION-PLUS TRUCK DRIVERS TO LOSE THEIR JOBS SOON

According to the American Trucking Association, there are some 3.5 million truck drivers in the United States alone.

That’s 3.5 million people who may lose their jobs once driverless trucks hit the roads in full force… which appears to be in the not-too-distant future.

Tech Crunch reports that a convoy of these trucks recently drove across Europe and arrived without incident at their destination at the Port of Rotterdam for 75% cheaper than it would have cost had human beings been driving them:

Webmaster's Commentary: 

Apr 28 09:55

G Edward Griffin - Fractional Reserve Banking

Apr 28 09:32

Japanese Bloodbath After BoJ Disappoints - Nikkei Drops 1000 Points, USDJPY Crashes

If there was a sign that nothing else matters but central bank largess, this was it. The moment The Bank of Japan statement hit and proclaims "unchanged" a vacuum hit USDJPY and Japanese stocks. Reflecting that Japan's economy has "continued a moderate recovery trend" which is utter crap given the quintuple-dip recession, Kuroda and his cronies said they will "add easing if necessary" and apparently that is not now. Not so much as a higher ETF purchase or moar NIRP.. and the aftermath is carnage - NKY -1000 points and USDJPY crashed to a 108 handle!!

Apr 28 08:25

The 1916 Irish Uprising against British Imperialism

Much like the coercion used by the Roman Empire, the British Crown were masters at colonial repression and exploitation of royal holdings. The long strained history between the Emerald Isle and the City of London dates back many centuries.

Apr 28 08:12

This Is The End: Venezuela Runs Out Of Money To Print New Money

And then, as if on cue the WSJ responded: "millions of pounds of provisions, stuffed into three-dozen 747 cargo planes, arrived here from countries around the world in recent months to service Venezuela’s crippled economy. But instead of food and medicine, the planes carried another resource that often runs scarce here: bills of Venezuela’s currency, the bolivar.

The shipments were part of the import of at least five billion bank notes that President Nicolás Maduro’s administration authorized over the latter half of 2015 as the government boosts the supply of the country’s increasingly worthless currency, according to seven people familiar with the deals.

Apr 28 08:12

Debt Is Growing Faster Than Cash Flow By The Most On Record

By now it is a well-known fact that corporations have no real way of generating organic growth in this economy, so they are relying on two things to boost share prices: multiple expansion (courtesy of central banks) and debt-funded buybacks (courtesy of central banks), the latter of which requires the firm to generate excess incremental cash. Incidentally, as SocGen showed last year, all the newly created debt in the 20th century has gone for just one thing: to fund stock buybacks.

Apr 28 07:10

Silver Prices: Last Time This Happened, Silver Soared 1,328%

Put in simple words, if you are not paying attention to silver prices now, you may be kicking yourself a few years from today. The gray precious metal has shown solid gains so far in 2016 and more of the same could follow.

Before going into details, just looking at the following daily silver price chart, pay close attention to the red and blue lines.

Apr 28 07:10

Gold Bullion: “Triple Threat” Could Send Gold Prices Skyrocketing

There are three things you must know: China remains a strong buyer, Indian’s gold demand is astonishing, and mint sales around the world are surging.

Apr 28 07:00

Strikes Across Europe as Angry Workers Respond to Harsh Austerity Cuts

Workers in France, Germany and Britain have joined others across Europe in a series of strikes amid bitter discord as the economies of Europe struggle to show strong growth years after the global financial crisis.

Apr 27 18:36

Ukrainian gas bills double in exchange for IMF aid

The new flat rate tariff of 6,879 hryvnia ($272) per 1,000 cubic meters will come into effect next month, and it is nearly twice the price consumers paid during the winter.

Under the old system of pricing Ukrainians paid 3,600 hryvnia ($142) per 1,000 cubic meters for up to 1,200 cubic meters of gas. The cost rose to 7,188 hryvnia ($284) for consumption above that level.

Apr 27 18:35

‘Humiliated, isolated’: Over 1.25mn destitute in 21st century Britain

In a climate of unyielding austerity, more than a million people across the UK are so impoverished they don’t have enough food, clothes, heating, shelter and toiletries, Britain’s first study into destitution has revealed.

Apr 27 16:03

$19,000,000,000,000.00OBAMA

Obama The National Debt Hypocrite - Caught On Tape

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Apr 27 15:21

CIA-Backed Artificial Intelligence Firm To Spy on Wall Street Traders

By Jake Anderson

Swiss multinational bank, Credit Suisse, will collaborate with data analysis firm, Palantir, to launch a trader surveillance program. According to Bloomberg’s Jeffrey Voegeli, the joint venture, called Signac, aims to catch rogue Wall Streeters engaged in illegal trading. It comes in the wake of a number of trading scandals in recent years that have cost banks billions of dollars.

Palantir was co-founded by Peter Thiel and seed-funded by the CIA. The company was funded in part by In-Q-Tel Inc., the venture capital investment arm of the CIA that has a long, symbiotic history with startups, the NSA, the FBI, and DARPA...

Apr 27 15:12

Obamacare Bankrupting Health Insurers, Too: Largest Insurer Loses $1 Billion A Year, Says It’s Going To Drop Coverage To Save Itself From Bankruptcy

Americans who are suffering rate increases and higher out-of-pocket expenses thanks to the healthcare “reforms” of the “Affordable” Care Act, are about to get hit with even higher costs, after the nation’s largest health insurer announced recently that it was pulling out of the Obamacare exchanges after losing a whopping $1 billion since 2014.

Apr 27 14:46

Economy In Decline: Apple Reports Massive Revenue Decline As IPhone Sales Plummet Dramatically

Corporate revenues in the United States have been falling for quite some time, but now some of the biggest companies in the entire nation are reporting extremely disappointing results. On Tuesday, Apple shocked the financial world by reporting that revenue for the first quarter had fallen 7.4 billion dollars compared to the same quarter last year. That is an astounding plunge, and it represents the very first year-over-year quarterly sales decline that Apple has experienced since 2003. Analysts were anticipating some sort of drop, but nothing like this. And of course last week we learned that Google and Microsoft also missed revenue and earnings projections for the first quarter of 2016. The economic crisis that began during the second half of 2015 is really starting to take hold, and even our largest tech companies are now feeling the pain.

Apr 27 14:45

Wartime Washington Lives In Luxury… Guess Who Pays The Bills?

Washington war contracts have enriched northern Virginia at a level equal to the total budgets of countries like Belgium and Sweden. That post-9/11 security- and military-industrial complex financial bonanza is why north Virginia counties are the wealthiest in the nation.

Apr 27 14:30

The American Empire Of Debt To Collapse Before The 2016 Elections?

Consider these 3 quotes from Canadian billionaire Rob Kirby who buys and sells gold by the ton.

America is not run by Americans anymore.

Historically, when banks have nothing else they can do, they take us to war.

American dollars held overseas will be repatriated which will trigger Stagflation and then Hyperinflation.

Kirby noted that the Federal Reserve had 3 emergency meetings in 3 days last week. Janet Yellen also had a secret meeting with Biden and Obama which violated American security protocols by having the President and his VP in the same location. Kirby thinks the whole American Empire of Debt will be unwound within weeks. That would mean, if he is right, maximum turmoil in American streets either prior to the Republican and Democratic presidential conventions in July or the November elections. Hillary thinks she should be crowned Empress but even she will see maximum resistance when the economy collapses.

Webmaster's Commentary: 

The “National Security and Homeland Security Presidential Directive,” with the dual designation of NSPD-51, as a National Security Presidential Directive, and HSPD-20, as a Homeland Security Presidential Directive, allows Obama to cancel the elections in a National Emergency, with a financial crash qualifying as such.

Apr 27 14:17

UK: Millions Of Low Income Families Will Be Poorer Under Welfare Reforms

This month, cuts to Universal Credit—the Tory government’s cover scheme for slashing welfare—were implemented for some 80,000 households. By 2020, the cuts will be extended to 1 million households across the UK, saving the government £3 billion a year.

Universal Credit will cost 2.1 million in-work families £1,600 a year and 1.1 million out-of-work families £2,300 a year when fully implemented, according to the Institute for Fiscal Studies.

Apr 27 14:17

Government-Sponsored Corporatism Leading to Rise of Populism

This Wall Street Journal article makes the point that Trump has positioned himself at the head of an increasingly anti-business GOP.

Apr 27 13:30

Male Employee Found Dead at Apple’s Cupertino Headquarters: Sheriff

The county coroner is now in charge of the investigation and will release more information once it is completed. Urena would not comment on whether a weapon was involved or if the death was suicide or natural.

Apr 27 13:16

Treasury Dept. Financial Crimes Director To Join HSBC Despite Mexican Drug Money Taint – Report

The Treasury Department’s top anti-money laundering official is reportedly taking a top seat at HSBC, a bank struggling to cope with a record $1.9 billion settlement with the US government in a case involving a Mexican drug cartel and financial fraud.

Apr 27 13:03

Saudis and the Dying Petrodollar: “The Global Economic Reset Has Begun”

As Brandon Smith makes eloquent in this article, a global showdown is looming, and the long-standing alliance between the United States and Saudi Arabia is likely to be broken, as self-interest drives new alliances in the era of global SDR currencies, and the end of the dollar’s special status on the world market.

Oil prices have been deliberately skewed to a level that would disrupt entire nations, and test markets while a flood of resources is pulling out the safety net and things grind to a halt. As these events unfold in the near future, much of the ample corrupt between the Saudis and the secret government wing of the U.S. government is likely to surface… and there is much evil and misdeeds to draw from.

Apr 27 13:03

This Precious Metals Ratio Signals A Big Move Ahead: “We Will Ultimately See Triple Digit Silver Prices”

Earlier this year, as investors around the world panicked and stock markets crashed across the board, one asset class held strong and actually gained. It was, by all accounts, a capital flow panic out of broader stocks and into precious metals. As a safe haven, precious metals like gold and silver have long been sought by a panicked populace during times of crisis and given the current economic and monetary debacle created by central banks, we can safely forecast a continued rise over coming years for this reason alone.

Apr 27 12:27

The S&P500 Is In A Very Tight Range

Apr 27 12:15

The World Map of Currencies

Apr 27 11:57

Driverless Trucks Already Being Tested; Three Million-Plus Truck Drivers to Lose Their Jobs Soon

According to the American Trucking Association, there are some 3.5 million truck drivers in the United States alone.

That’s one percent of the population right there just… unemployed…

How are so many people going to be able to put food on the table and pay their rent when there are no jobs for them to get paid to do so?

Perhaps that’s why law enforcement is training so hard for martial law.

(read more)

Apr 27 09:55

The Worst Law Most Americans Have Never Heard Of

The government has criminalized so many mundane activities that the average American unknowingly commits three felonies a day. That’s according to a study by Harry Silverglate, a civil liberties lawyer.

Apr 27 09:54

The Privatization of Water in Detroit. Massive Water Shut-Offs

Thousands of households are being subjected to ongoing terminations

Despite the business media praise of the actual program of dislocation and underdevelopment aimed at long-time residents disguised as “revitalization”, the City of Detroit is slated to embark upon a new round of massive water shut-offs.

Webmaster's Commentary: 

Apr 27 09:38

Sir Philip Green's stepson made £3MILLION profit on property he bought from BHS just days before his father sold the chain for £1

Sir Philip Green's stepson bought a store from BHS just days before the tycoon sold the company last year - and made a £3million profit a few months later.

Property developer Brett Palos is the son of Sir Philip's wife Tina, and sits on the board of the businessman's Arcadia Group, owner of brands such as Topshop.

The 41-year-old's company Thackeray Estates bought the freehold of BHS's Ealing branch in West London in March last year for £6.9million.

Only a week later, Sir Philip announced that he had sold the ailing chain to mysterious investors Retail Acquisitions for £1.

Webmaster's Commentary: 

But Sir Philip got a new yacht (his third) out of the collapse!

Apr 27 09:29

Baltic Countries' Ports Drying Up Due to Lack of Russian Cargo

The ports of Estonia, Latvia and Lithuania along the Baltic Sea are facing a historic lull in activity, with cargoes from the east into Europe and from the West into Russia finding new routes circumventing Baltic ports. The situation has led to near-crisis conditions for the local transit sector.

Apr 27 08:45

Keiser Report: Debt Slavery

Apr 27 08:09

Here's how Apple's 13-year growth streak came to an end

While all eyes are on iPhone sales, it's the state of Apple's safety net that should have investors worried.

Webmaster's Commentary: 

Apple has announced plans to diversify into the military market! :)

Apr 27 08:08

Chipotle sales nosedive, stock falls

Chipotle (CMG), which has fallen from darling status after an E. Coli and norovirus food-safety crisis last year, dropped after reporting first quarter earnings after the bell on Tuesday.

Webmaster's Commentary: 

Chipotle appears to be the victim of industrial sabotage, as the E. Coli scares happened only after Chipotle announced they were going GMO free.

Apr 27 08:02

How Central Banks Manipulate Stocks

Apr 27 07:18

One More Casualty Of The 9/11 Farce – The Petrodollar

By Brandon Smith

It’s been about 15 years now since passenger airliners struck the World Trade Center towers on 9/11, and we are still suffering the consequences of that day, though perhaps not in the ways many Americans might believe.

The 9/11 attacks were billed by the Bush Administration as a “wake-up call” for the U.S., and neocons called it the new Pearl Harbor. But instead of it being an awakening, the American public was led further into blind ignorance. The event launched wars throughout the Middle East, energized by a strike-first doctrine which was supposed to bring unprecedented “democracy” to the region. Instead, the Middle East has now become as unstable as it was during WWII...

Apr 27 05:22

Self-Ownership Is the Foundation of Freedom

The immorality associated with violation of the principle of self-ownership lies at the root of problems that could lead to our doom as a great nation. In fiscal 2015, total government spending — federal, state and local — was about $6.41 trillion. That’s about 36 percent of our gross domestic product. The federal government spent $3.69 trillion. At least two-thirds of that spending can be described as the government’s taking the property of one American and giving it to another. That’s our moral tragedy: We’ve become a nation of people endeavoring to live at the expense of others — in a word, a nation of thieves.

Apr 27 02:34

WTF Happened?

Well, as you know I am pretty convinced that the big players, which include central banks, the big banks and several of the larger market players (Citadel, et al.), are conspiring to move these markets around on a pretty continuous basis.

They do it precisely because of Dave’;s reaction; “Look, all fixed!’

That’s the main point of manipulating markets. Creating the appearance of health is exactly the point.

Today’s “”market”” headlines are likely to report the Dow an S&P closing nicely in the green. What they won’t report is that “someone” banged the close to create slightly better headlines than would have otherwise been written if they had not done this.

Apr 26 15:56

50 Cent Filibuster: Rapper’s Self-Help Book Used To Thwart Post-Ferguson Sales Tax Hike

A Missouri state senator used a book by rapper 50 Cent during her Monday filibuster of a sales tax proposal that’s being pushed as a reaction to the US Justice Department’s report on police violence in Ferguson.

Apr 26 15:27

47 Percent Of Americans Cannot Even Come Up With $400 To Cover An Emergency Room Visit

If you had to make a sudden visit to the emergency room, would you have enough money to pay for it without selling something or borrowing the funds from somewhere? Most Americans may not realize this, but this is something that the Federal Reserve has actually been tracking for several years now. And according to the Fed, an astounding 47 percent of all Americans could not come up with $400 to pay for an emergency room visit without borrowing it or selling something.

Apr 26 15:16

Hillary Clinton's Business Of Corporate Shilling And War-Making

Digging deep into Hillary’s connections to Wall Street, Abby Martin reveals how the Clintons’ multi-million-dollar political machine operates.

Apr 26 14:23

APPLE SALES DOWN 13%

Apple Inc. posted its first quarterly revenue drop in more than a decade and forecast another decline in the current period, dragged down by waning demand for the iPhone. Shares fell as much as 5.4 percent in extended trading. Sales in the third quarter, which ends in June, will be $41 billion to $43 billion, the Cupertino, California-based company said Tuesday in a statement. On average, analysts estimated revenue of $47.4 billion, according to a Bloomberg survey. Second-quarter sales slid 13 percent and IPhone shipments fell 16 percent.

Apr 26 14:18

Stories Of Despair From The Forgotten People That The U.S. Economy Has Left Behind

There really are “two Americas” in 2016, and they are getting farther and farther apart with each passing year. On the one hand, you have lots of people smiling in New York City these days because of the stock market boom, and property values have soared to ridiculous levels in San Francisco because of the tech bubble. But in between the two coasts there are vast stretches of forgotten people that the U.S. economy has left behind. In this article I am going to share some of their stories with you.

Apr 26 13:45

Putin wants gold backed currency

Putin wants the ruble backed by gold and swears Russia will never become a New World Order cashless society.

He says the New World Order plan to go cashless in a way to enslave the populace. If an attack occurred on the grid, the payments would stop. This would put society in a gridlock.

Apr 26 13:43

Did Goldman Sachs’ Latest Move Into Main Street Banking Just Give Us A Warning About The Coming Financial Crisis?

If there were ever a signal that large investment banks may be preparing for financial crisis and that they’ll be using your money to bail themselves out when it hits, this could be it.

Apr 26 12:56

Detroit to resume water shutoffs May 1

Detroit Water and Sewerage Department officials today urged residents with back-due water bills to attend a fair on Saturday to set up payment plans or risk shutoffs that are set to resume May 1.

DWSD Director Gary Brown said this morning that more than 30,000 households in the city are current on payment plans but 23,000 defaulted on their payment plans and may have their service cut off. The average overdue balance is $663.

Apr 26 12:56

Report: DPS kept millions intended for pensions

Michigan is investigating why the Detroit Public Schools district received up to $30 million in U.S. Department of Education reimbursements for some employee pensions but didn’t send the money to a state pension fund.

Apr 26 12:18

Another Luxury Retailer Cutting Corporate Jobs

Apr 26 12:17

THE DRIVERLESS TRUCK IS COMING, AND IT’S GOING TO AUTOMATE MILLIONS OF JOBS

A convoy of self-driving trucks recently drove across Europe and arrived at the Port of Rotterdam. No technology will automate away more jobs — or drive more economic efficiency — than the driverless truck. Shipping a full truckload from L.A. to New York costs around $4,500 today, with labor representing 75 percent of that cost. But those labor savings aren’t the only gains to be had from the adoption of driverless trucks.

Apr 26 11:50

Tricky Ted And The American Worker

Despite the old guard and amateur pundits blaming Donald Trump and the majority of GOP voters who support him, much of the rift in the Republican Party has been caused by Texas Senator Ted Cruz conning nationalists into believing he is one of them. Republican voters, many of whom have supported the GOP for decades and been repeatedly taken for granted by the establishment, deserve better. They need to know that Cruz is an establishment globalist who has already sold the American worker down the river by voting for the Trans-Pacific Partnership.

Apr 26 10:50

Bad Deal for America

Apr 26 10:50

Will We Be Fooled Again? Stop the TPP!

Apr 26 10:49

Why I Almost Sued Redbox, But Didn't Have To

I've sued a lot of companies in my time, successfully, when the other party does not live up to their terms of the contract and refuses to resolve the matter reasonably. A lot of times, you can simply use leverage and imply or threaten legal action, and that is enough to solve a consumer problem. The issue here is that I don't like crooks. I strongly dislike unethical and dishonest people and dishonest tactics used by both small companies and large corporations. This is rampant today, and it is disgusting. In years past, many Americans seem to chide people for being 'sue happy.' In reality there is nothing wrong with suing others if the situation warrants it. If you try to resolve the matter and the other party refuses to cooperate, that's what courts are for, to enforce contracts. If an unethical company violates terms of a contract and refuses to correct it, courts are often the only recourse one has, absent violent retribution, which is illegal.

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