Nov 20 17:08

Oil May Plunge to $20, Signalling Economic Disaster: “The Numbers Are Dreadful And Unprecedented”

Dramatic overproduction of oil has become a major tool of geopolitical conflict and a harbinger of impending economic doom.

The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned.

Goldman Sachs told clients that the increasing glut of oil on the global market […] could send prices plummeting to $20 a barrel, the so-called ‘cash cost’ that forces drillers to abandon production.


Nov 20 16:44

Support pours in for fired E. Greenbush Walmart employee who redeemed $5.10 of cans

Thomas Smith, 52, of Albany, an ex-convict who was formerly homeless, was fired from his $9-an-hour job gathering shopping carts at the Walmart Supercenter in East Greenbush after he redeemed $5.10 worth of discarded empty cans and bottles.

Nov 20 16:39

Homeless ex-soldier, 82, dies hours after being evicted from his squat in Manchester city centre

Known only as George, he is believed to have passed away from bronchial pneumonia, a support group for veterans has revealed.

Nov 20 16:38

Transition to National Currencies in Russia-Iran Trade Matter of 2-3 Weeks

The process of switching to national currencies in transactions between Moscow and Tehran may be completed very quickly, a senior Iranian official said.

Nov 20 16:19

After raising record $3.4M on Kickstarter, UK drone startup collapses

The British drone startup that set a record for the most-funded European Kickstarter project earlier this year has now folded, according to a statement sent to backers on Wednesday.

Earlier this month, cofounder and CEO Ivan Reedman abruptly left Torquing Group, citing “personal health issues and irreconcilable differences.”

In January 2015, Torquing Group concluded its Kickstarter campaign to fund production of its handheld drone, known as the Zano, raising more than £2.3 million ($3.4 million) in under two months.

Nov 20 15:32

Government borrowing worst October figure in six years

Public sector net borrowing (PSNB) rose £1.1bn in October compared with the same month a year ago to £8.2bn, official figures show.

That is the highest level of borrowing in October in six years.

The government has borrowed £54.3bn so far this year and is making slow progress on meeting the Office for Budget Responsibility's (OBR) forecast.

Nov 20 14:52

For the business owners out there

Nov 20 13:24

Hang Onto Your Wallets: Negative Interest Rates, the War on Cash, and the $10 Trillion Bail-in

Remember those old ads showing a senior couple lounging on a warm beach, captioned “Let your money work for you”? Or the scene in Mary Poppins where young Michael is being advised to put his tuppence in the bank, so that it can compound into “all manner of private enterprise,” including “bonds, chattels, dividends, shares, shipyards, amalgamations . . . .”?

That may still work if you’re a Wall Street banker, but if you’re an ordinary saver with your money in the bank, you may soon be paying the bank to hold your funds rather than the reverse.

Webmaster's Commentary: 

Again, please have no more money in the bank than you need to pay your bills; when the excrement hits the ventilation fan in this country, things will get nasty when it comes to both banking, and cash.

Nov 20 13:22

US Economy Is Collapsing – Americans Are Out Of Money

Retail sales this holiday season are setting up to be a disaster. Already most retailers are advertising “pre-Black Friday” sales events. Remember when holiday shopping didn’t begin, period, until the day after Thanksgiving? Now retailers are going to cannibalize each other with massive discounting before Thanksgiving.
Anybody notice over the weekend that BMW is now offering $6500 price rebates? The collapsing economy is affecting everyone, across all income demographics.

Nov 20 11:44

The End Of The Recovery, In One Chart

Nov 20 11:16

The Return of Korematsu

Last week’s terrorist attack in Paris provoked a backlash among American politicians against the Obama administration’s plans to resettle Syrian refugees. They rushed to protect their constituents from potential ISIS members who could be lurking among the 10,000 refugees that the Obama administration hopes to admit into the country over the next year.

It’s natural enough to wonder, in response to the murky reports of a Syrian passport found at one of the bombing sites, about the United States’ own procedures for screening Syrian refugees. It turns out that refugees chosen for resettlement are exhaustively vetted by law-enforcement and intelligence agencies, with an average processing time of 12 to 24 months, before setting foot on U.S. soil.

Webmaster's Commentary: 

While I condemn the internment of Japanese Americans during World War II, as a great moral blot on this country's history, and believe in thorough vetting of ALL refugees who come here, there is a question that must be asked: why is Obama so completely keen on bringing in so many Syrians, when there are not even enough jobs for people who were born here?!/

What will the financial ramifications to this country's budget, where the US treasury is nearly broke?!?

The only thing I can think of (and be aware: most of these refugees are being located in Republican states) is that when they are ultimately eligible to vote (and in states with no voter ID laws, that could be ...tomorrow), this country will have another block of solidly Democratic voters, grateful for their opportunity to be here.

Yes, this is a very cynical evaluation of what is going on with Obama's obsession to relocate Syrian refugees here; but it is nonetheless absolutely correct.

Nov 20 10:55

With Loss of American Jobs, Illegals Now Fleeing U.S.: “Mexican Migration Is at an End”

The death of American jobs is driving illegal immigrants back to Mexico; but Asian workers from China and India are now coming instead. According to Pew Research:

More Mexican immigrants have returned to Mexico from the U.S. than have migrated here since the end of the Great Recession, according to a new Pew Research Center analysis of newly available government data from both countries.


Nov 20 09:09

Avoid Wealth Destruction

Today when gold in US dollars is making a new correction low, the paper shorts are elated. They believe they can win this game of frightening every gold investor to sell their holding. But this elation is likely to soon turn to desperation.

Nov 20 09:03

EU look to ban Bitcoin after Paris attacks

Bitcoin could soon be banned in the European Union pending the outcome of a meeting scheduled for Friday in Brussels in the wake of last week’s deadly terror attacks in the French capital.

Nov 20 08:37

Gold and the Reverse Goldfinger Effect

Nov 20 08:15

Don't let that cop search your car! The U.S. Supreme Court ruled in 1998 That A Traffic Stop Doesnt Authorize a Vehicle Search

I saw it recently at a taco place. This woman in the photos was pulled over by a CHP officer, who started immediately rummaging through the woman's vehicle while she obediently stood at the cops car and watched. In the photo to the right, you can see the officer's boot as the rest of his body is inside the car, with him rummaging through the woman's back seat. Later, he digs through her purse on the hood of his car as she stands there and watches. This woman should not have consented, and neither should you. The U.S. Supreme Court has already addressed this issue, In Knowles v. Iowa, (1998), ruling " "the need to discover and preserve evidence does not exist in a traffic stop, for once Knowles was stopped for speeding and issued a citation, all evidence necessary to prosecute that offense had been obtained"

Nov 20 07:34

Michael Rivero: Paris, Fukushima and Crimes Against Humanity

The situation in Paris is not all that different from other events that we have been dealing with for much longer. The same people telling lies and deceiving the masses with propaganda to push whatever agenda the elite deem necessary.

I sat down with Michael Rivero from What Really Happened to discuss some of the more serious situations that are currently unfolding. One situation happened on Friday 13 in Paris and the other has been an ongoing global nightmare that, today, gets very little attention and very little coverage.

Nov 20 07:32

China Cracks $64 Billion `Underground Bank' Moving Money Abroad

China said it cracked the nation’s biggest “underground bank,” which handled 410 billion yuan ($64 billion) of illegal foreign-exchange transactions, as the authorities try to combat corruption and rein in capital outflows that have hit records this year.

Nov 20 07:22

EU Might End Friendship With US as Washington’s Policies Hurt Europe

Europe has suffered a great deal over the past couple of years due to US-fueled anti-Russian rhetoric that Washington forced on the EU, John Laughland, the director of Studies at the Institute of Democracy and Cooperation, told Radio Sputnik.

The EU is beginning to realize that they are the ones paying the price for Washington's anti-Russian rhetoric and poor US policies in the Middle East. The United States is destroying Europe by helping to cause the refugee crisis in the Middle East and terrorist attacks, Laughland said.

Nov 20 07:00

Rdio's collapse another nail in the coffin of the 'digital economy'

The “digital music economy” now resembles three bald men fighting over the same hairbrush.

It’s hard to think of a better emblem for the current “plantation era” of internet exploitation has led us than digital music. And it’s hard to imagine a more perfectly shitty outcome for creators, and ultimately for consumers who love music. You’ll run out of bullets before you’ve run out of blame for this sad situation - because there’s so much of it to go round.

This week streaming service Rdio filed for bankruptcy protection, selling its assets in a fire sale to Pandora.

Nov 20 06:50

Meet The Family That Just Spent Half Its Annual Income Paying For Obamacare

Not a week passes without some incremental revelation showing precisely what happens when Congress passes a bill just to see what's in it.

Now we can add one more thing that "was in it": soaring deductibles, which give the fake impression of contained, low all-in costs... until one actually needs expensive medial help (and these days there is no other kind).

Webmaster's Commentary: 

Nov 20 06:49

Obamacare's Latest Casualty: Largest Health Insurer On Colorado Exchange Abruptly Collapses

According to AP, the health insurer announced Friday that the state Division of Insurance has de-certified it as an eligible insurance company. That's because the cooperative relied on federal support, and federal authorities announced last month they wouldn't be able to pay most of what they owed in a program designed to help health insurance co-ops get established.

Webmaster's Commentary: 

Nov 20 06:47

Obama Promised Healthcare Premiums Would Fall $2,500 Per Family; They Have Climbed $4,865

Employer-based health insurance premiums climbed 4.2% this year for family plans, according to an annual Kaiser Family Foundation report. That’s up from 3% the year before.

Since 2008, average family premiums have climbed a total of $4,865.

The White House cheered the news, saying it was a sign of continued slow growth in premium costs.

“We will start,” Obama said back in 2008, “by reducing premiums by as much as $2,500 per family.”

Webmaster's Commentary: 

The White House is cheering because as premium costs go up, so do the tax revenues ... they think.

The problem is that Americans are so broke that to pay for the health insurance premiums, they have to forego something else, so the actual net change to tax revenues is actually nil! Government and corporate policy is still operating in a fantasy world where there is plenty of wealth here in the hands of the people, if they can only figure out another way to take it from us.

Nov 20 06:43

The Stunning "Explanation" An Insurance Company Just Used To Boost Health Premiums By 60%

It may not have been easy for Blue Cross Blue Shield to admit to their clients their premiums are set to rise by 60% due to Supreme Court-mandated tax known as "Obamacare" but it would have been the right thing.

Instead, in justifying the boost to the two-month medical premium from $867 to $1.365, the health insurer decided to use the following excuse: "With advances in medical technology, prescription drugs and ways to treat injuries and illnesses, Americans are living healthier lives. [i.e., living longer] Because of these changes, we must adjust your premium to stay in line with increased costs."

In other words, if you want lower costs, and avoiding 60% healthcare inflation, just do everything in your power to prevent Americans from "living healthier lives."

Nov 20 06:42

In Latest Obamacare Fiasco, Most Low-Income Workers Can't Afford "Affordable Care Act"

The insurer failed because it would fail to be profitable, in the process burning through $23 million in taxpayer-funded loss that would not be repaid. "Taxpayers are on the hook for millions of dollars in loans given out to the CO-OP, money that will likely never be repaid," U.S. Sen. Cory Gardner said in a statement after the announcement.

And while many had anticipated from the beginning that the Obamacare tax was merely a subsidy for the large insurance companies (or rather, their public shareholders), few had expected a far more sinister consequence of the "Affordable" care plan: that the employer mandate would turn out to be unaffordable for a vast majority of low-income workers - the very people who were supposed to benefit from it.

Webmaster's Commentary: 

Nov 20 06:29

Baltic Dry Index Just hit 52 week low...504

Nov 19 22:54

TPP and the New Global Corporate Government

...In chapter 27, TPP provides for a new executive-legislative body whose decisions will usurp national and state-local legislative functions and representative democracy — already under serious attack everywhere by corporate money and other initiatives. And in chapter 28, TPP provides for a new kind of global corporate court system, run by corporate-friendly lawyers and hirelings who will make decisions which cannot be reviewed, appealed or challenged in existing court systems of any TPP member country. TPP ‘courts’ will take precedence over US and other national court systems, already under heavy attack by corporate forces vigorously promoting arbitration as a means by which to bypass the formal judicial system in the US.

Nov 19 18:35

Markets Read What They Want Into FOMC Minutes

Nov 19 17:37

The Baltic Dry Shipping Index Just Collapsed To An All-Time Record Low

I was absolutely stunned to learn that the Baltic Dry Shipping Index had plummeted to a new all-time record low of 504 at one point on Thursday. I have written a number of articles lately about the dramatic slowdown in global trade, but I didn’t realize that things had gotten quite this bad already.

Nov 19 17:23


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

Webmaster's Commentary: 

Time to put this out there again.

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WRH Exclusive
Nov 19 16:16

Silver Buying Sweet Spot Is Here...

Nov 19 15:44

Police Civil Asset Forfeitures Exceed All Burglaries in 2014

Between 1989 and 2010, U.S. attorneys seized an estimated $12.6 billion in asset forfeiture cases. The growth rate during that time averaged +19.4% annually. In 2010 alone, the value of assets seized grew by +52.8% from 2009 and was six times greater than the total for 1989. Then by 2014, that number had ballooned to roughly $4.5 billion for the year, making this 35% of the entire number of assets collected from 1989 to 2010 in a single year. According to the FBI, the total amount of goods stolen by criminals in 2014 burglary offenses suffered an estimated $3.9 billion in property losses. This means that the police are now taking more assets than the criminals.

Nov 19 15:42

German Economic News Infers France Will Re-Align with Russia, Abandon U.S.

U.S. President Barack Obama’s continuing refusal to work together with Vladimir Putin’s offensive in Syria to slaughter all jihadists there, has driven French President Francois Hollande to consider a fundamental re-alignment of France with Russia and away from the U.S. and NATO (the anti-Russian military club of nations). Recent news reporting in German Economic News — a news medium with an uncanny and extraordinary record of subsequently validated insights — is now suggesting that Hollande is, indeed, moving away from the United States, and toward Russia. If they get this one right, too, then that publication, known in its native language as Deutsche Wirtschafts Nachrichten, or DWN, will have cemented its leading position as a reporter of global affairs.

Nov 19 15:07

Political Bankruptcy: Stage Three

What is going on, and not only with Republicans, is that American voters are surveying the past 15 years. At home they see an economic near-collapse followed by a feeble recovery, a culture that grows every day grosser and more bizarre, falling educational results, a bigger, more demanding and more corrupt federal government. In the world: two unwon wars, ISIS, a refugee crisis greater than any since the end of World War II, Putin on the move, American clout and prestige on the decline.They think: Who gave us this world? Who led us the past 15 years? They realize: It was the most credentialed, acclaimed and experienced political professionals in both parties. The pros gave us this world–the people who knew what they were doing! Who had a lifetime of political attainment!

Nov 19 14:46

Place sanctions on banks and states funding ISIS, says Corbyn

States and financial institutions suspected of managing or providing funds to Islamic State (IS, formerly ISIS/ISIL) should have sanctions placed on them, Labour Party leader Jeremy Corbyn told MPs.

Nov 19 13:48

Who’s Making A Killing From the Paris Terror Attacks?

Terrorism is great for business if you’re in the business of growing the government leviathan. The bodies in Paris are not yet buried, while the vultures with dollar signs (and pounds and Euros, etc) in their eyes have already swooped down for a feast.

Nov 19 13:05

Claim: ISIS Is Funding Their Operation Via Bitcoin Wallets Worth MILLIONS

Couldn’t you see this situation being used by the centralized banking cartel as a reason to call for the shutdown of “dangerous” cryptocurrencies like Bitcoin? How easily terrorists can be funded via anonymous donations hidden on the deep web?

(read more)

Nov 19 11:56

Peter Van Buren on Stopping ISIS: Follow the Money

Wars are expensive. The recruitment and sustainment of fighters in the field, the ongoing purchases of weapons and munitions, as well as the myriad other costs of struggle, add up.

Nov 19 10:31

Keiser Report: Earning by Mirage

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss a fictional novel called Stock Options Revisited, in which our economies have run dry and bankers and rentiers have sought to earn by mirage.

Nov 19 10:17

Permabulls Whistling Past The Grave

Nov 19 10:09


Piracy monetization firm Rightscorp has just turned in another set of disappointing results for the third quarter of 2015. After losing $424K during the three months ended September 30, the company has recorded a net loss of $3.1m for 2015 thus far. That means that for every dollar it receives in fines, the company loses $4.

Nov 19 09:57

USDA Puts $34.3 Million Into Local Food Projects – Will It Be Enough?

The recent Department of Agriculture announcement that it would allocate $34.3 million to support local food systems was met with skepticism by many in the sustainable farming and food justice movements. Many organizations doing food systems work in the most vulnerable communities find USDA grants too competitive, bureaucratic, short-term, and daunting to be worth the effort.

Nov 19 09:41

Nine Ways to Stop Terrorism

In the wake of the barbaric Paris terror attacks, everyone is arguing over what we should do to stop further terrorism.

Some say we need more war against Islamic countries … or more spying … or more crackdowns on our liberties.

In reality – despite what the talking heads may say – the methods for stopping future attacks are well known …

Defenders of current government policy say: “we have to do something to stop terrorists!”

Yes, we do …

But we must also stop doing the 9 things above which increase terrorism. We have to stop “throwing new bodies in the river.”

But the powers-that-be don’t want to change course … they gain tremendous power and influence through our current war on terror strategies.

For example, the military-complex grows rich through war … so endless war is a feature – not a bug – of our foreign policy.

Torture was about building a false justification for war.

Mass surveillance is about economic and diplomatic advantage and crushing dissent.

Nov 19 09:31

Central Bank Lunacy—-$26 Trillion Of Government Bonds Now Trading Below 1%

Since Lehman Brothers went bankrupt in September 2008, the world’s central banks have injected more than $12 trillion under QE (Quantitative Easing) programs into financial markets. More than $26 trillion of government bonds are now trading at yields of below 1% with over $6 trillion currently yielding less than 0%.

These policies, according to policy makers, have been crucial to the “recovery.”

Nov 19 09:28

The "Sharing Economy" Is the Problem

The "sharing economy" sure has a nice ring to it, doesn't it? As the saying goes, "sharing is caring."

Through Uber, the sharing economy's poster-child, thousands of drivers have turned their personal cars into money-making vehicles. Homeowners internationally have earned extra cash by using another popular sharing service, AirBnB. These companies' ads are filled with smiling people, caring about each other and just wanting to do good.

Nov 19 09:24

Martin Armstrong Rages "It's Time To Knock Off The BS About 'Surveillance For Terrorism'"

The worldwide collection of phone calls, emails, text messages and our total loss of privacy is all about taxes – NOT terrorism.

With all this power and the demand that encryption be outlawed, not any of this surveillance has stopped one terrorist act. There was the Boston bombers, two kids using cell phones. They didn’t catch that either. Then there was the two guys dressing up as women who attacked the NSA itself. They didn’t know about that. Then Charlie Hebdo, that too was a surprise. Now we have an all out assault on civilians in Paris carried out by 3 suicide squads and again they were clueless.

This surveillance does not work because they are really monitoring the people for taxes or they would not be storing everything forever.

Nov 19 09:23

Trucking Trade group SBTC Challenges the NRA to Stand Up for Truckers' Gun Rights

Trucking Industry group Small Business in Transportation Coalition (SBTC) ( has introduced Michael's Law, which would allow truckers to carry firearms nationwide. The law is named after 31-year-old truck driver Michael Boeglin, who was brutally murdered, shot (five times) to death on June 26, 2014. The assailant, who was never caught, then lit Mike's Freightliner truck on fire with him in it. Mike had been waiting outside a shipper at a nearby abandoned gas station because the corporation, like many, forbid drivers to wait for the load on their property. He left behind his wife Ashley who was four months pregnant with their first child. The NRA has shockingly opposed and worked against MICHAEL'S LAW, the straightforward, very simple 136- word proposal. (Gee wonder why?) The NRA has been rightly derided as a sellout organization for years by gun rights advocates.

Nov 19 09:16

Someone Wants War with Russia

In truth, the dangerous Washington consensus that Russia must for some reason to be confronted and even destabilized truly boggles the mind, particularly as it has become dogma for both political parties and even for many critics of the global war on terror and all its tainted fruit. And the brinkmanship game with a nuclear weapon armed adversary that is being played is, as veteran diplomat William Polk has observed, “…moving closer to the danger point of provoking their use.” It is difficult to understand why it is so. Russia is, if anything, helping in Syria and could even broker some kind of negotiated settlement, while the situation with Ukraine and Crimea is far less Manichean that the U.S. media has depicted it to be.

Webmaster's Commentary: 

The leadership in this country wants a war - any war - be it against China or Russia - because the US economy is heading toward an implosion, and they want a war with which to distract the American people away from the fundamental problems facing this economy.

This would also be, theoretically, to prevent the ascendency of the ruble and/or the yuan. And the IMF looks as though it is about ready to include the yuan in its "basket of approved currencies" at the very end of this month.

I have watched the current demonisation of Russia by the corporate newsreaders, NATO, and US military leaders who are nearly, collectively, frothing at the mouth any time Russia is mentioned, and there is utterly no truth or logic in what is being said about Russia.

Please remember that last year, the US, NATO, and the IMF were responsible for the putsch which threw Ukraine's legitimately elected government out in favor of Poroshenko's Kiev mafia.

When Crimeans woke up to the reality that the duly elected government had been usurped, they held a free and fair referendum in which they decided to request that they be allowed to join the Russian Federation. The Russian Federation agreed, and that was how that happened.

Russia did not annex Crimea; Russia has done nothing wrong here.

"Russian aggression"?!? Please, don't make me laugh. American and NATO aggression against Russia is very real, very concrete, and very dangerous.

And it is dangerous because at this time in their history, the US and NATO military do not have the money, the troop strength, or the available manufacturing to insure a positive outcome to a conventional war against Russia.

And if you want to take a look at how "brilliantly" NATO has been performing recently, just take a look at its 14 year stint in Afghanistan.

Case closed, folks.

Nov 19 09:14

For Caterpillar The Depression Has Never Been Worse... But It Has A Cunning Plan How To Deal With It

Moments ago Caterpillar reported its latest monthly retail sales statistics and the numbers have never been worse: not only is the dead CAT bounce in US sales finally over, tumbling -8% Y/Y, after a -4% decline in September and hugging the flatline for the past few months, but sales elsewhere around the globe were a complete debacle: Asia/Pacific (mostly China) was down -28%, a dramatic drop from the -17% a month ago, EAME dropping -13%, and Latin America down -36%...

Nov 19 08:17

Here's The Dodgy Payday Lender Behind That 'Grassroots' White House Petition

Every good idea in American politics eventually becomes a vehicle for corporate lobbying.

When the Obama administration unveiled its "We The People" online petition platform in the fall of 2011, the goal was pretty straightforward: give people an opportunity to petition their government. Once the petition passes a popularity threshold, the administration responds to it.

But when a petition popped up containing details about payday lending regulations proposed by the Consumer Financial Protection Bureau, something other than a grassroots goof-off was clearly in the works. The petition -- which has crossed the 100,000 signature threshold mandating a White House response -- reads like a list of industry talking points written from the perspective of an aggrieved consumer.

Nov 19 08:02


The minutes from the last Fed meeting were released on Wednesday afternoon. The minutes, along with a squadron of jabbering Fed heads lying about the economy doing great, pretty much locked in the most talked about .25% interest rate increase in world history. Evidently the Wall Street titans of greed have convinced the muppets higher interest rates are great for stocks, as the market soared by 250 points. As institutional money exits the market on these rigged up days, the dumb money retail investor buys into the market with dreams of riches just like they did with in 2000, McMansions in 2005, and Bear Stearns in 2007.

Nov 19 08:02

Another French False Flag… “Just a Reminder where all this ‘War/Terrorism’ Stuff Comes From”

Nov 19 08:01


The arrests or investigations targeting the finance industry in the aftermath of China’s summer market crash have intensified in recent weeks, creating a climate of fear among China’s finance firms and chilling their investment strategies. At least 16 people have been arrested, are being investigated or have been taken away from their job duties to assist authorities, according to statements and announcements compiled by Bloomberg News.

The authorities’ goal is to root out practices such as insider trading as part of China’s anti-corruption campaign, and a desire by "some in the political leadership to find scapegoats to blame" for the market crash, according to Barry Naughton, a professor of Chinese economy at the University of California in San Diego.

Webmaster's Commentary: 

This does not augur well for the immediate future of the Chinese economy.

Nov 19 07:58


If the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession?

The manufacturing numbers say that we are in a recession, the trade numbers say that we are in a recession, and as you will see below the retail numbers say that we are in a recession. But just like in 2008, the Federal Reserve and our top politicians will continue to deny that a major economic downturn is happening for as long as they possibly can. In this article, I want to look at more signs that a dramatic shift is happening in our economy right now.

First of all, let’s consider what is happening to hedge funds. For many years, hedge funds had been doing extremely well, but now they are closing up shop at a pace that we haven’t seen since the last financial crisis. The following is an excerpt from a Business Insider article entitled “Hedge funds keep on imploding” that was posted on Wednesday…

Webmaster's Commentary: 

The real economy, for ordinary working people, is a nightmare.

They are dealing with offshoring/outsourcing of jobs at a rapid rate, and the only jobs available are those asking "Do you want fries with that?"

Food inflation is astronomical, almost to Weimar Republic style levels, and premiums for Obamacare are about to explode exponentially.

What we are seeing is a deliberate dismantling of the American middle class.

Nov 19 07:41

UnitedHealth May Quit Obamacare Markets in Blow to Health Law

The U.S.’s biggest health insurer is considering pulling out of Obamacare, a month after saying it would expand its presence in the program.

UnitedHealth Group Inc. is scaling back marketing efforts for plans it’s selling this year under the Affordable Care Act, and may quit the market entirely in 2017, because the business has proven to be more costly than expected. It’s an abrupt shift from October, when the health insurer said it was planning to sell coverage in 11 new markets next year, bringing its total to 34. The company also cut its 2015 earnings forecast.

A pull-back would deal a significant blow to President Barack Obama’s signature domestic policy achievement. While UnitedHealth has been slower than some of its rivals to sell Obamacare policies since new government-run marketplaces for the plans opened in late 2013, the announcement may indicate that other insurers are struggling, said Sheryl Skolnick, an analyst at Mizuho Securities.

Nov 19 07:31

Brace For a Crash: Holiday Spending Hasn’t Been This High Since 2007

Unfortunately, it appears that most Americans are falling back on their old holiday spending habits, even though they probably can’t afford it. According to a recent gallup poll, the average American family is planning on spending almost as much money this Christmas as they did just before the crash of 2007.

Nov 18 18:43

If The Economy Is Fine, Why Are So Many Hedge Funds, Energy Companies And Large Retailers Imploding?

If the U.S. economy really is in “great shape”, then why do all of the numbers keep telling us that we are in a recession?

Nov 18 17:33

Car loans hit $1 trillion for first time

Nov 18 16:42

Major Market Index Fails Key Test

Nov 18 16:34

‘More money, more fighter jets’: Cameron to increase UK military budget to counter ISIS

UK Prime Minister David Cameron announced that the country’s military budget will be increased to fight Islamic State.

Nov 18 16:32

The World’s First Cashless Society Is Here – A Totalitarian’s Dream Come True

By Nick Giambruno

Central planners around the world are waging a War on Cash. In just the last few years:

- Italy made cash transactions over €1,000 illegal;
- Switzerland proposed banning cash payments in excess of 100,000 francs;
- Russia banned cash transactions over $10,000;
- Spain banned cash transactions over €2,500;
- Mexico made cash payments of more than 200,000 pesos illegal;
- Uruguay banned cash transactions over $5,000; and
- France made cash transactions over €1,000 illegal, down from the previous limit of €3,000.

The War on Cash is a favorite pet project of the economic central planners...

Nov 18 16:30

Italian Prime Minister: Europe's Anti-Russia Policy to Lead Nowhere

Europe's anti-Russia policy will lead the region nowhere, Italy's Prime Minister Matteo Renzi said Wednesday.

"Only the ones who did not experience the Cold War can like it. The anti-Russia approach in Europe will lead nowhere," Renzi told the Italian Sky TG24 TV channel in an interview.

Italy has been long asking Russia to return to cooperation with the Western countries, the prime minister added.

Nov 18 16:18

A Half-Century of Gold, War, and Costs

In round numbers, these wars (in today’s dollars) were tremendously expensive:

Vietnam War: Estimated cost is $740 Billion

War on Drugs: Estimated cost is $1,000 Billion

War on Terror, including Afghanistan and Iraq: Estimated cost is $1,700 Billion and counting

War on Poverty: Estimated cost is $22,000 Billion

Total estimated war costs – about $25 Trillion. Really? Value received?

Nov 18 14:30

Texas Ranchers, Counties Sue Feds Over BLM Land Grab

Multiple ranchers, a sheriff and several Texas counties are suing the federal government for unconstitutionally attempting to seize thousands of acres of private property along the Red River.

Nov 18 14:14

There is No Santa Claus : Ponzi Had Nothing on the Fed

Ponzi had nothing on the Fed, with its endless bond bull market, speculation, and capital destruction. Don’t blame Jennifer or David. Blame the Fed and its perverse game.

Nov 18 13:56

Osborne slashes welfare, injects £1.9bn into cybersecurity to counter ISIS hackers

Islamic State terrorists could launch cyberattacks on power stations, the National Grid and hospitals, Chancellor George Osborne warned in a speech outlining his commitment to spending an additional £1.9 billion on cybersecurity.

Nov 18 13:19

‘No talk of anti-terror coalition if political parties use terror for their own agenda’

Extremists who planned and carried out the terror act on Sinai plane are not committed to ideology but to money