ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 14 19:23

Maternity Leave is Shrinking

Today women are working longer into their pregnancies and sooner after giving birth than in years past.

Apr 14 19:15

Millennial Women Still Earn Less Than Men

Although millennial women tend to be more highly educated than their male counter-parts, they are still earning less money in many careers.

Apr 14 19:05

How to Get the Best Financial Aid Package

The traditional approach to college applications for many families is to pick a school and figure out how to pay for it later. “That formula is a recipe for disaster now,” says Kalman Chany, a New York City-based financial aid consultant and the author of the Princeton Review’s “Paying for College Without Going Broke.”

Apr 14 16:42

Guaranteed paid leave for mothers (weeks)

Apr 14 15:37

How Your Bank Account WILL Disappear

Apr 14 15:37

Flashback: 12 Things you should know about David Cameron's austerity to infinity speech at the Lord Mayor's Banquet

The most glaringly obvious demonstration that Cameron's brain has been addled by the bubble of wealth and privilege he inhabits is the fact that he decided to announce that he plans for the UK public to suffer permanent austerity, whilst reading his speech at the Lord Mayor's Banquet from a gold encrusted lectern.

The evidence is absolutely clear: Tory austerity is for the poor and ordinary, whilst the rich have used this economic crisis to make themselves richer than ever. Corporations and the super-rich get tax cuts, ludicrous pay hikes and state subsidies, whilst the rest of us suffer wage repression, cuts and loss of services.

Apr 14 15:18

The Grace Commission

"all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from their government"

Apr 14 13:59

Hillary Clinton – the ‘Liberal’ Puppet for War

Hillary Clinton this week launched her bid for the US presidential elections in 2016.

Clinton’s Republican rivals or would-be rivals immediately fired the brickbats, accusing the 67-year-old former First Lady of being a «Washington insider» and the «embodiment of all that is wrong» in US politics.

Hillary Rodham Clinton is lambasted by Republicans as a «liberal».

Whether described as «liberal», «conservative» or «hawk» – all American presidential candidates are the same in practice. Puppets for sale.

The unintended irony of Clinton’s Republican detractors, who include rabid rightwing Senators Marco Rubio and Ted Cruz, as well as the maverick Senator Rand Paul, is that every single one of them will have to spend similar amounts of cash in their anticipated presidential campaigns.

Apr 14 13:36

Protesters Slam Wall Street Elites for Profiting Off ‘Misery of Workers’

A union-supported activist group known as the Hedge Clippers disrupted a hedge fund conference in Manhattan on Monday to call out financial investors they say support poverty wages.

Apr 14 12:22

America’s 9 Classes Of Economic Stature

Apr 14 12:04

IMF sees solid global economic outlook even as growth diverges

The International Monetary Fund highlighted an increasing divergence in the growth paths of the world's major economies this year, as a pick-up in the euro zone and India is expected to be offset by diminished prospects in other key emerging markets.

Webmaster's Commentary: 

The rich are getting richer and the poor are getting poorer and that is the way the IMF likes it!

Apr 14 11:50

These Companies Are Going To Spend So Much Money Trying To Woo Voters Ahead Of 2016

By one estimate U.S. online political advertising could quadruple to nearly $1 billion in the 2016 election, creating huge opportunities for digital strategy firms eager to capitalize on a shift from traditional mediums like television.

Apr 14 11:49

Republicans Push $269 Billion Handout For Millionaire Heirs And Heiresses

House Republicans this week will vote to hand the heirs and heiresses of America's largest fortunes a $269 billion tax break by repealing the federal inheritance tax.

The legislation would shield the very richest families from taxes on the fortunes they inherit. After years of GOP attacks on the inheritance tax, also known as the estate tax, only a few thousand of the wealthiest families are subjected to it -- 4,700 total in 2013, according to the Joint Committee on Taxation. Only individual fortunes worth over $5.43 million can be taxed under current law, an amount that doubles to $10.86 million for wealthy couples. The Republican proposal would eliminate all of these estates -- which are over 15,700 percent richer than the median American household -- from taxation.

Apr 14 10:57

Keith Neumeyer: No Price Discovery In Silver

Apr 14 10:19

A Condo In San Francisco Is Available For $49 Million

The duplex penthouse at Lumina in San Francisco is marked down for $49 million.

The property is a 13,800 square foot duplex penthouse on the 41st and 42nd stories of the new Lumina building at 201 Folsom Street.

http://whatisusa.info/a-condo-in-san-francisco-is-available-for-49-mil...

Apr 14 10:16

Analyst Career Risk

Apr 14 10:07

Boom! Boom! — When the supply lines fail

Unfortunately, the run-up to war against Russia continues

Apr 14 09:44

US Shale oil production may have maxed out - EIA

The shale oil boom may be over, judging from the latest report from the US Energy Information Administration, which said oil output from America’s seven most productive shale formations will decrease for the first time in four years.

The report has had an effect on the oil market with Brent, the benchmark for more than half of the world’s oil, trading above $58.25 per barrel, a 0.55 percent increase, and WTI, the North American blend, advancing one percent to $52.44 at the time of publication.

Apr 14 09:21

Who'd have thought austerity drives the rise in food banks?

The growth of food banks is directly linked to benefit cuts such as sanctions.

It blows a hole in David Cameron’s claim that the huge rise in food bank use could be down to better advertising at Jobcentres.

Apr 14 09:14

IMF close to giving up on Greece after official admits bail-out negotiations are ‘not working’ and the country ‘prepares to default on next debt repayment’

The International Monetary Fund (IMF) is close to giving up its role in Greece's economic resuscitation, with one senior official admitting bail-out negotiations are not working.

The comments came as some voices in Athens seemed to be preparing themselves to default on their next debt repayment.

Poul Thomsen, the IMF's Europe Director has been quoted by the Greek media as saying he could not see a successful conclusion to the country's current bail out.

Apr 14 09:03

BUNDY RANCH TYPE STANDOFF BREWING IN SOUTHERN OREGON BETWEEN MINERS AND BLM

The area in question has produced in excess of 10 million ounces of gold since its conception, and geologists estimate that only 10% of the gold in the ground has been removed, which makes this area highly sought after by any standard. It is said that children find gold with their hands in the creeks to this day.

Webmaster's Commentary: 

the government is desperate for this gold, and will do anything humanly possible to illegally throw the miners off this claim.

I would not be surprised to see a "false flag" done here to be blamed on local militias, and then have US Special Ops round up these miners, and put them where no one will ever hear from them again. Then the Bureau of Land Management will take over the mines, with all the gold going to the US government.

Do you think this can't happen?!?

You had better think again.

In the language of the NDAA (National Defense Authorization Act), the President can have any person, or persons, he has deemed a "threat" to America, arrested, and imprisoned indefinitely, with absolutely no due process.

I wonder if Obama is going to make this his test case of the NDAA; if so, there will be no such thing as private property in this country.

Apr 14 08:40

RAMIFICATIONS -- Andy Hoffman

Apr 14 08:29

Entrepreneurs Are Vanishing… Here’s Why

Apr 14 08:25

Air travel is getting even more unpleasant

The study, conducted by a Wichita State professor and the dean of Embry-Riddle’s College of Aviation, found the percentage of on-time flights fell to 76.2% in 2014 from 78.4% a year earlier. What’s more, the number of lost bags rose 13% and bumped passengers increased by 3%.

It’s no wonder that consumer complaints jumped 22%.

Apr 14 08:06

Ruby Tuesday to close 30 restaurants following quarterly losses

Ruby Tuesday will close 30 restaurants over the next few months, though they won’t say which ones.

Webmaster's Commentary: 

They just closed the one at Ala Moana shopping center.

Apr 14 07:49

Jeff Deist: A Free Market in Money?

Apr 14 07:29

Chart Of The Day: Volatility Ratio Warning

Apr 14 07:08

Doorbell

Apr 14 05:14

The Very Same People That Caused The Last Economic Crisis: The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives

The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment. When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States. During the last financial crisis, our politicians promised us that they would make sure that “too big to fail” would never be a problem again. Instead, as you will see below, those banks have actually gotten far larger since then. So now we really can’t afford for them to fail.

Apr 13 22:08

The Obama Family Paid 93,362 Dollars In Federal Taxes In 2014

United States President Barack Obama and his wife Michelle paid 93,362 dollars in taxes for the year 2014 on revenue of more than $477,000, according to the White House. Its effective tax rate was 19.6%, shows the document published Friday.

http://whatisusa.info/the-obama-family-paid-93362-dollars-in-federal-t...

Apr 13 19:47

Shrinkflation! How sneaky firms are making your favourite products smaller, but NOT shrinking the price

Whether it's a chocolate bar that no longer satisfies your appetite or washing powder which now runs out before your next shop, many of our big brands are shrinking their products.

The latest casualty are boxes of Cadbury's Fingers which, it was announced yesterday, will contain two fewer chocolate fingers from now on.

They join Creme Eggs, PG Tips teabags and even John West tuna in the ever-increasing list of goods getting smaller.

Apr 13 19:46

Americans Want More Kids, But Childbirth Rates Are Down

As in years past, the number of childless women in their 30s and 40s is continuing to rise.

Apr 13 18:18

Cash Banned in Louisiana at Garage Sales, Flea Markets etc.

With the passage of House Bill 195 into law, the State of Louisiana has banned the use of cash in all transactions involving secondhand goods. State representative Ricky Hardy, a co-author of the bill, claims that the bill targets criminals who traffic in stolen goods. According to Hardy, “It’s a mechanism to be used so the police department has something to go on and have a lead.” The bill prohibits cash transactions by "secondhand dealers," defined to include garage sales, flea markets, resellers of specialty items, and even non-profit resellers like Goodwill. Curiously, it specifically exempts pawnbrokers from the ban. But of course, pawn shops--and not rented stalls at local church flea markets--are notorious as places that criminals frequent to convert stolen goods into quick cash. So what gives? Are the authors of the bill and those who voted for it ignoramuses--or are they deliberately obscuring the real purpose of the bill?

Apr 13 16:34

Government to move on zero-hour contracts

Unions have campaigned for zero-hour contracts to be outlawed, and Restaurant Brands - owner of KFC - has recently agreed not to use the contracts.

The most punitive aspects of zero-hour contracts will be banned, the Government says.

Workplace Relations and Safety Minister Michael Woodhouse said he is keen to see some of the harshest contracts outlawed.

That included when people had to be available for work but were given no guaranteed hours of work in return, he told Radio New Zealand.

Asked if that meant he would effectively ban zero hour contracts, he said many employers have different definitions of what zero-hour contracts are.

"Casual [agreements] are where neither party has an obligation to say yes or no to the work. Now, generally there's a good working relationship where you get a good roster in advance and know how many hours you are likely to be working in a week - it suits people like university students.

Apr 13 14:46

McDonald's to close restaurant in south Russia over rent row

McDonald's will for the first time close its restaurant in Russia after a failure to agree on rent payment in the Belgorod Region, southern Russia, the company's press service said on Monday.

"We haven't closed restaurants in Russia before," the company said adding that the decision was made after long negotiations with the landowner in Stroitel, a town with a population of some 25,000.

Apr 13 13:31

Hundreds Protest Austerity on Montreal Streets (PHOTOS, VIDEOS)

Demonstrations continued in Montreal, as students marched the streets to protest austerity measures proposed by the provincial government in Quebec.

Apr 13 13:29

Insightful investment banker interview.

Apr 13 13:18

Nestlé’s California water permit expired 27 years ago

Last month, California newspaper The Desert Sun published an investigation revealing that Nestlé Water’s permit to transport water across the San Bernardino National Forest for bottling has been expired since 1988. On Friday, the California Forest Service announced it would make it “a priority” to reassess the permit, and that it might impose as-of-yet unspecified “interim conditions” on the bottling operation in light of the severe drought, The Desert Sun reports.

Apr 13 13:01

Foodstamp Financiers: Wells Fargo Workers Protest Re-Emergence Of Predatory Practices

One of America’s biggest banks is going to be protested by an unlikely group today: its employees. As The Guardian reports, Wells Fargo bankers are protesting the bank’s alleged predatory practices – mainly the sales quotas imposed on some of its workers (which have led to at least 30 employees opening duplicate accounts, sometimes without customers’ knowledge, in order to inflate their sales numbers). One worker warns, “it is not in Wells Fargo’s best interest for customers to purchase products and services they don’t use or need.” Now where have we seen this kind of activity before? Wells Fargo bank workers are not the only ones struggling to make ends meet without breaking ethical standards as bank tellers have collected as much as $105m in food stamps.

Apr 13 13:01

"We Have Come To The End Of The Road" - Greece Prepares For Default, FT Reports

as always is the case in Europe, nothing is confirmed until it is officially denied by officials, so here you go: GREEK GOVT OFFICIAL DENIES FT REPORT GREECE PLANNING DEFAULT

There was no explanation from the government official where Greece would get the €2.5 billion it needs to fund upcoming IMF interest and principal payments.

Apr 13 10:07

Fracking Town's Laid-off Workers: 'They Don't Tell You It's All a Lie'

.....life at the centre of the country's largest hydraulic fracturing, or fracking, boom has definitely changed. The jobs that brought thousands of recession­-weary employment­-seekers to this once peaceful corner of western North Dakota over the last five years have been drying up, even as the unemployed keep coming.

Downtown, clutches of men pass their time at the Salvation Army, watching movies or trolling Craigslist ads on desktop computers. The main branch of the public library is full, all day, every day, with unemployed men in cubbyholes. And when the Command Center, a private temporary jobs agency, opens every morning at 6 a.m., between two and three dozen people are waiting to get in the door.

Some of these job seekers are sleeping in their trucks, in utility sheds, behind piles of garbage by the railroad tracks, wherever they can curl up.

Apr 13 09:54

Welcome To The Currency War, China Edition

Apr 13 09:40

The New American Retirement Plan: Work Forever

Apr 13 08:49

“Bundy Ranch” type standoff brewing in Southern Oregon between miners and BLM

The area in question has produced in excess of 10 million ounces of gold since its conception, and geologists estimate that only 10% of the gold in the ground has been removed, which makes this area highly sought after by any standard. It is said that children find gold with their hands in the creeks to this day.

BLM has made several attempts to disband the operation through violations that claim improper paperwork filing, ruling changes over time, and other unsubstantiated claims. The miners of this district have spend tens of thousands of dollars to date to fighting the BLM in the courts and other avenues. The district has made requests to produce the official rulings that show they are in violation which have gone unanswered. They simple reason given by the BLM is that “they say so”.

Apr 13 08:39

BREAKING: OREGON GOLD MINING STAND OFF WITH BLM….NEXT BUNDY RANCH

BLM recently (3/18/15) issued two Stop Orders on a mine, citing authority under their 3809 regulations, despite the fact that this is one of the oldest active claims in the country. The location date of this mine is so old that one of the location notices (the legal title to the mine) was actually first recorded in the original Galice Mining District Recorder’s book in 1876 and then later transcribed into the Josephine County Clerk’s records once the county assumed recording duties. Under the 1955 Surface Resources Act, claims of this age have exclusive surface rights unless the Department of Interior utilized a mechanism outlined in that Act to severe those surface rights. Demands to BLM to produce evidence of their surface authority in accordance to the 1955 Act have thus far garnered only “because we say so” answers and numerous stonewalling tactics. The Stop Orders came after several months of back and forth maneuvering from both sides, and are clearly retaliatory in nature.

Webmaster's Commentary: 

I would remind everyone that the Enclave Clause in the Constitution forbids the US Government from owning/controlling any lands other than those underneath Federal Buildings, military bases, or Federal Infrastructure such as harbors and airports. But when Nixon ended gold convertibility and doubts began to surface that the US actually had all of the gold it was pledging as collateral on government borrowing, Nixon created the EPA to bypass the Enclave Clause and start grabbing public lands away from the people and use them as collateral for borrowing, now amounting to almost 1/4 of the entire nation. Despite references to China in the original story, I think the US Government is starting to commandeer private gold resources to replace the missing gold at the New York Federal Reserve.

Apr 13 08:14

U.S. Economy: These Three Data Points Show Growth Has Stopped

If you think the U.S. economy is improving, this story says that, truth be told, it’s the complete opposite for the economy, as recent data suggest there is no growth.

Apr 13 06:48

Martin Armstrong - Big Losses Coming in the Bond Market

Renowned financial analyst Martin Armstrong says you can forget about the U.S. dollar crashing in value. Armstrong contends, “No, that’s absurd. The euro is in terrible shape. The yen is in terrible shape, and honestly, you can’t park money in yuan or Russian rubles, yet. I mean, let’s be realistic here, but eventually--yes.”

Armstrong says the bond market is a different story as the Fed is going to be forced to raise rates. He contends just a few percentage points in rising rates are going to cause big losses and big changes. Armstrong predicts, “People will be losing huge money. We are looking at a few percentage points, and you are going to blow the national debts of all these countries way out of whack, and that’s what’s going to force political change.”

Apr 13 06:03

UK Housing Bubble Bursts: Sales Of Luxury Homes Crash By 80% As "Waves Of Wealthy People Are Leaving"

As the FT reports, "sales of homes worth more than £2m have dropped by 80 per cent in the past year."... "It is like the 1970s again, when waves of wealthy people left Britain and it was a disaster.”

Apr 13 06:01

Bundesbank Warns German Banks To Expect At Least 50% Losses On Austrian "Black Swan"

"German banks should expect to lose at least half of their investments in bonds of Austrian bad bank Heta Asset Resolution AG and make the appropriate provisions... I think this situation has to be taken seriously by the German banks... if I were to put a number on this I would say it should be a minimum of a 50 percent provision for potential losses."

Apr 13 05:59

Costco’s Biggest Business Risk: Concentration

Costco’s latest annual report showed that nearly 32% of it’s annual income is generated in California, with more than 70% of sales coming from the United States.

Apr 12 15:10

The Income Gap Can Harm Your Health

t’s not news that there’s a widening income gap between the richest and poorest people in the United States. But now this income inequality could be affecting people’s health.

Apr 12 12:27

Citi Economist Says Solutions To Current Economic Problems Is To Abolish Cash

The world's central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, but reducing them further below that is fraught with problems, the biggest of which is cash in the economy.

Apr 12 09:06

United States is facing global economic isolation

Just this week, former Treasury Secretary Larry Summers wrote an eye-opening and scathing op-ed outlining where America stands in the rapidly changing global economy.

Titled ‘Time U.S. leadership woke up to new economic era’, the piece looks at the many ways in which the United States is losing influence around the world to China and other emerging markets, while at the same time becoming increasingly isolated.

Apr 12 09:04

8 Forgotten Survival Skills Your Great Grandparents Used Everyday

Our modern society is highly dependent upon the “system.” Not only do we rely upon utility services to bring us electricity, water and natural gas, but also on an incredibly complex supply chain which provides us with everything from food to computers. Without that supply chain, most of us wouldn’t know what to do.

This situation is actually becoming worse, rather than better. When I compare my generation (I’m in my 50s) to that of my children, I see some striking differences. In my generation it was normal for a boy to grow up learning how to do a wide variety of trade skills from his father, and seemingly everyone knew how to do basic carpentry and mechanic work. But that’s no longer normal.

Apr 12 08:38

46 Ukrainian banks declare insolvency

Dozens of Ukrainian banks have reportedly gone bankrupt over the course of one year, with Kiev having to rely on external funding from the European Union (EU) amid insufficient insurance funds.

Managing Director of the Ukrainian Deposit Insurance Fund Konstantin Woruschilin said 46 banks in the country have declared insolvency, pointing to a number of contributing factors to the high number of bankruptcy, Russia-based Sputnik news agency reported on Saturday.

Woruschilin said the main factor is “the immoral behavior of bank managers,” with a number of cases involving bank employees stealing money for personal purposes.

Other factors were a drop in the country’s exports, a decline in consumption and high production costs, according to the director.

Apr 12 04:06

Markets, Economic Data, & The Ben Bernank

Apr 11 19:58

San Jose commits to end homelessness, lacks 80% of funding, will consider and respond to public banking & monetary reform initiatives

*hyperlinks live at source*

Newly-elected San Jose mayor, Sam Liccardo, committed to end homelessness in his 2015 inaugural address:

We face a crisis of homelessness. But we’re from San Jose. We can and we must leverage the Valley’s incomparable innovative spirit and resources to end homelessness in our lifetimes.

... Innovation, of course, doesn’t come easy. Innovation takes risk, and risk requires courage. Collectively, we must muster the courage:

to try what has been untried;
to open our city’s workings to public scrutiny;
... and, above all, to fail, to learn, and to endeavor again.
... I conclude by extending an invitation to each of you: Join me in re-imagining San Jose.

In his State of the city address, he provided data we confirmed with the mayor’s policy analyst, Dylan Simon:

San Jose has ~4,000 homeless residents.
839 of the San Jose homeless are housed; ~ 20%.

Apr 11 14:05

5 Things To Ponder: Don't Fight The Fed

Apr 11 12:59

Meet The Secretive Group That Runs The World

Over the centuries there have been many stories, some based on loose facts, others based on hearsay, conjecture, speculation and outright lies, about groups of people who "control the world." Some of these are partially accurate, others are wildly hyperbolic, but when it comes to the historic record, nothing comes closer to the stereotypical, secretive group determining the fate of over 7 billion people, than the Bank of International Settlements, which hides in such plain sight, that few have ever paid much attention.

Apr 11 10:45

Russian Miracle: Ruble becomes world's best performing currency in 2015

The Russian ruble continues its scorching ascent, improving 3% against the dollar and nearly 4% versus the euro, the best performance in over four months

Apr 11 10:22

Walgreens Plans To Close About 200 Stores In The US

Walgreens -the largest drugstore chain United States said Thursday it plans to close about 200 of its branches in the United States as the largest drugstore chain in the country expands its cost reduction plan of 1,000 million dollars, which announced last August.

http://whatisusa.info/walgreens-plans-to-close-about-200-stores-in-the...

Apr 11 09:31

How Robots & Algorithms Are Taking Over

In September 2013, about a year before Nicholas Carr published The Glass Cage: Automation and Us, his chastening meditation on the human future, a pair of Oxford researchers issued a report predicting that nearly half of all jobs in the United States could be lost to machines within the next twenty years. The researchers, Carl Benedikt Frey and Michael Osborne, looked at seven hundred kinds of work and found that of those occupations, among the most susceptible to automation were loan officers, receptionists, paralegals, store clerks, taxi drivers, and security guards. Even computer programmers, the people writing the algorithms that are taking on these tasks, will not be immune. By Frey and Osborne’s calculations, there is about a 50 percent chance that programming, too, will be outsourced to machines within the next two decades.

Apr 11 08:08

Rob Kirby: Debt Problem Destroying Society

Apr 11 07:11

Website calling for corporate tax increases deemed unfit by Alberta election laws

In a press release the Alberta Federation of Labour wrote that the campaign website gave Albertans the opportunity to "explore the various ways in which the provincial government has destroyed the revenue system, and given away billions of dollars to big corporations and to very wealthy individuals."

Or at least, that's what the website was intended to do, before it was shut down.

Since the election was officially announced on Tuesday, April 7, the website has been deemed to be in violation of the Election Finances and Contributions Disclosure Act (EFCDA), which regulates third-party spending during elections.

The Alberta Federation of Labour, which maintains the website, is not allowed to register as a third-party advertiser under these rules.

Apr 11 06:13

New study finds Canada second only to Greece in household debt growth

A new study has found that Canada has, relative to income, seen the second-highest increase in household debt among developed countries since the 2008 recession.

The study, found that Canada is second, only behind Greece on this measurement. The report looked at the growth of household debt between 2007 and 2014.

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