ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 01 10:11

Sterling slides as manufacturing slows

Sterling has fallen sharply against the US dollar after growth in the UK manufacturing sector slowed markedly in April.

Financial data company Markit said its monthly Purchasing Managers' Index (PMI) for manufacturing fell to 51.9 in April from 54 in March.

Although a figure above 50 still indicates expansion, the fall was the biggest since February 2013.

May 01 09:33

It's complicated

May 01 09:15

Baltimore: Police Violence And The Bankers Who Destroyed A City

American politics is the realm of Immaculate Conception where actual policies and accumulated history disappear behind a veil of personal characteristics and unrelated acts. The (mis)leadership class pretends that ruling class machinations— trade agreements, financial deregulation, imperial wars, surveillance and policing have no bearing on social outcomes.

May 01 08:45

Today's Technology Bubble: Bigger Than 2000?

May 01 08:28

What is a Makerspace?

By Brian Berletic

Makerspaces are getting a lot of attention these days but it still seems like some people are unclear as to what exactly a makerspace actually is. That might be because, at this point, even makerspaces themselves are unsure of exactly what they are doing or where this is all heading.

However, what they do know is that makerspaces are for at least three things: Innovating, collaborating, and learning. Perhaps an analogy can help make things clearer...

May 01 08:07

Europe's debt mountain just got bigger

It's official. The eurozone is drowning in debt.

According to the latest figures from the bloc's official statistical authority, government debt in the eurozone reached nearly 92pc of GDP last year - the highest level since the single currency was introduced in 1999.

Unsurprisingly, debt-stricken Greece is the worst offender, with its public debt topping 177pc of national economic output. Italy is not far behind at 132pc of GDP, with bailed-out Cyprus at 107pc.

The figures also show that only five of the eurozone's 19 countries are below the Maastricht Treaty's 60pc debt limit. Across Europe as a whole, 16 of out the 26 member states are officially in breach of the debt criteria.

May 01 08:06

US Unemployment Benefits At Its Lowest Level In 15 Years

U.S. Jobless Claims Fall to Lowest Level in 15 Years
WASHINGTON—The quantity of Americans requesting first-time unemployment advantages tumbled a week ago to the most minimal level in 15 years, a sign of expansive wellbeing in the work market.

http://whatisusa.info/us-unemployment-benefits-at-its-lowest-level-in-...

May 01 08:02

China’s Gold Secret

May 01 08:00

German official: Iran to open trade office in Berlin

Chief Executive Officer (CEO) and Deputy Chairperson of the German Near and Middle East Association (NUMOV) Helene Rang said Iran has recently purchased an office in the German capital to further boost trade ties with the European country, IRNA reported.

May 01 07:56

‘Dictator-arming’ BAE boss must resign from BBC Trust, say activists

A petition signed by thousands has been delivered to the BBC calling for the removal of its new vice-chair, Roger Carr, because of his continued chairmanship of BAE Systems, Europe’s biggest arms company.

Delivered on Thursday morning by the Campaign Against the Arms Trade (CAAT), the petition was signed by 6,350 people with the aim of having Carr removed.

May 01 07:43

Marc Faber: Stocks to fall 40%—at least!

May 01 07:22

Secondhand car supermarket Carcraft collapses leaving hundreds without jobs and thousands of customers out of pocket

Used car supermarket Carcraft has fallen into administration, leaving 500 people without jobs and potentially thousands of customers out of pocket.

Customers have been warned that any existing warranty, MoT, roadside assistance or servicing deals they have with the firm are no longer valid.

Administrators Grant Thornton have confirmed that they will be getting in touch with customers to tell them that their contracts with Carcraft won't be honoured and no longer provide them with any cover.

May 01 07:09

Greek Pensioners Crash Pension Fund Board Meeting, Form Lines At Bank

Earlier this week, Greek pensioners discovered that a "technical glitch" caused the delay of some €2 hundred million in pension payments. Apparently, Athens ran out of money. Exhausted, exasperated, and short on cash, restless retirees have now taken to storming pension fund meetings and forming lines at banks.

May 01 07:07

Roberts: Legendary US Economy Is No Longer

The declaration today (April 29) of a scarcely positive GDP first quarter 2015 development rate of 0.2 percent (two-tenths of one percent) is a deliberate embellishment.

http://whatisusa.info/roberts-legendary-us-economy-is-no-longer/

May 01 05:33

How Much it Costs to be Poor

Low-income Americans are spending far more than they earn, forcing many to dip into savings, lean on family or go into debt.

May 01 03:15

The ‘War on Cash’ has begun

May 01 01:27

Dow, S&P 500 And NASDAQ Take A Tumble; US Dollar Ends April With Worst Month In 4 years

The dollar fell on Thursday to close out April as the greenback’s worst month in four years, as measured against a basket of six major currencies.

The latest batch of lackluster corporate results weighed on shares on Wall Street on Thursday.

May 01 01:21

Nikkei slips as weak earnings hit Wall Street

TOKYO: Asian shares edged down on Friday after weak corporate earnings dented Wall Street, while the dollar clawed back some losses after marking its worst monthly performance in four years against a basket of six major currencies.

May 01 01:09

Oil Prices Up, Gasoline Prices Up

“A rebound in crude oil prices has fueled up gasoline prices in the last week across the United States, with even bigger spikes in the West Coast, where refinery problems have returned. The national average stands at a four month high, though for this date prices remain at their lowest since 2009. Late last week, West Texas Intermediate crude oil stood near $58 a barrel, the highest since December 15, 2014. That price stands some $10 a barrel higher than a month ago, and has been a key contributor to the rise in gasoline prices that many states are witnessing. Refinery issues along the West Coast have added insult to injury for Californians, where prices are up by 25 cents per gallon just in the last week in some areas.”

(*Refinery issues; Talk about your Perfect Timing !)

May 01 01:01

Exxon Mobil earnings top estimates

Oil output high despite low crude prices, eroded profits

(*They found a way to Hose Us At The Pump)

Apr 30 23:15

Faber: Stocks are about to fall 40% at least

Apr 30 23:14

Goldman Sachs Dumps $50 Million In Bitcoin

Apr 30 21:50

Roberts: Legendary US Economy Is No Longer

The declaration today (April 29) of a scarcely positive GDP first quarter 2015 development rate of 0.2 percent (two-tenths of one percent) is a deliberate embellishment.

http://whatisusa.info/roberts-legendary-us-economy-is-no-longer/

Apr 30 20:58

Would You Tip More if People Could See It?

Are customers less likely to leave small tips, or no tip, if those around them can tell?

Apr 30 20:49

Starbucks Profits in Q2

Spending on "extras", like Starbucks coffee and beverages, is one sign that the economy is still on the up-swing.

Global caffeinated-beverage-behemoth Starbucks Corporation is getting it done all over the world. The results are in for the second quarter, and the results are simply great across the board.

Apr 30 20:43

The Real Length of the Full-Time Work Week

The days of the 40 hour work-week are over.

When you're hired for a full-time job, the understanding is that you'll put in at least a 40-hour workweek.

The expectation -- especially for salaried employees who don't qualify for overtime -- is that you'll put in more to ensure your projects get done.

Apr 30 20:36

How Much it Costs to be Poor

Being poor may actually be more expensive than you think.

Low-income Americans are spending far more than they earn, forcing many to dip into savings, lean on family or go into debt.

Apr 30 19:31

RBS has lost £50bn since the taxpayer paid £46bn to save it: State-backed giant lurches to a £446 million loss

"Sounds good to me!" - Certified Ball Street Wanker

Apr 30 16:50

Cash on Lockdown: Bankers “Want Badly to Charge YOU Interest for Depositing YOUR Funds”

Cash is quickly becoming a liability.

SHTF has been closely following the recent calls from Wall Street to ban cash and implement a system that would force everyone to operate on the grid, even as interest rates have hit negative and customers are actually charged for keeping money in the bank.

Money Metals Exchange explains it well:

The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it.

Read more at SHTFplan.com

Apr 30 15:19

Michigan governor wants to split Detroit Public Schools district to isolate debt

Gov. Rick Snyder has laid out a plan the struggling Detroit Public Schools district, which has big debts and poor student achievement in many of its approximately 100 schools.

Snyder said the district has reached a "crisis point where systemic change is needed."

Under the plan, the existing Detroit Public Schools would continue under the direction of the emergency manager and the elected Board of Education for the sole purpose of paying off the district’s debt.

Apr 30 15:18

Detroit water bill battle: What can you do?

Clark said she's struggled to pay her water bill in the past, but things got worse in October when her water usage suddenly skyrocketed.

"We went from 2,900 gallons of water to 29,000 gallons of water," she said.

Ruth to the Rescue reviewed Clark's bills from the last six months and confirmed that -- from October to December -- her water usage jumped from more than 23,000 gallons of water to 29,000 gallons. In 2013, those numbers were under 4,000 gallons.

Apr 30 14:32

Greek Finance Minister Yanis Varoufakis ‘attacked’ by protesters in Athens restaurant

The Syriza party got elected in Greece promising to end austerity and stop job losses – but some groups are already angry at the new government.

Dozens of recently-hired tax workers protested outside the finance ministry in Athens complaining that they receive less pay than their colleagues.

Apr 30 14:31

Russia building a nuclear powerplant in Finland

Finnish company Fenovoima has announced that it has made contracts with a Russian corporation Titan-2 to build nuclear powerplants on the west of Finland.

Fenovoima stated that the contract to build a nuclear power plant was signed in January with Russian state company Rosatom Atomic Energy , which is a subsidiary of Titan.

Finnish Parliament approved in December to the Branch Rosatom to build a nuclear power plant , which would begin to produce electricity in 2024 .

Apr 30 14:17

Greece "Scrambles"To Make Full Monthly Pension Payments: "Still Missing Several Hundred Million Euros"

Greece was forced to delay pension payments by 8 hours on Tuesday while Athens scrambled to find cash. Although the government claims there was a "technical glitch," officials with knowledge of the matter offered a far more elegant explanation: there wasn't enough money.

Apr 30 14:16

Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes

George Soros may owe some $6.7 billion in taxes Bloomberg says, noting that despite the billionaire's call to increase taxes on the wealthy, his fund has employed a loophole that allowed for the deferral of taxes on management fees the reinvestment of which has generated billions in returns.

Apr 30 14:14

Guess Who Predicted The Failure Of QE

Yellen... AND Bernanke!

So while in 2008, QE had no discernible economic effects... in 2015 it is a powerful tool for lowering unemployment rates? What a farce!?

Apr 30 14:09

Ukraine named worst performing economy in 2015- The Economist

Ukraine has the fastest falling economy of 2015 according to the British periodical The Economist. The country has seen its GDP shrink by 6.5 percent since last April, with countries like Libya and Macau performing better.

Apr 30 13:41

A series of events have brought the subject of high frequency trading abuses once again to the forefront of the financial news reportage.

Although the SEC has investigated high frequency trading and its impact on the market for years, it is yet to explain, never mind halt, the inexplicable streaks of consecutive winning trading days that banks and hedge funds routinely report. On the other side of every winning transaction is an investor, who is losing money and none too happy about it. Where are the market watchdogs that are supposed protect investors from predatory trading?

Apr 30 12:34

BITCOIN PLATFORM CIRCLE GETS $50M FROM GOLDMAN SACHS AND CHINA’S IDG CAPITAL

The Wall Street Journal is reporting that Boston-based Bitcoin platform Circle has added $50 million in new funding — valuing the company at $200 million. The company’s latest investment was led by Goldman Sachs and Chinese investor IDG Capital Partners. Previous investors Accel Partners*, Breyer Capital, General Catalyst Partners, and Digital Currency Group also took part in the round.

Apr 30 12:28

Baltimore riots: A product of the Soros Machine

While Baltimore burns, the city has proven itself to be yet another staging ground in a long line of scenes involving “violent protests,” riots, and racial violence following an incident concerning police brutality, real or otherwise.

Apr 30 12:15

SOME ARREST DATA THAT MAY HELP EXPLAIN THE BALTIMORE RIOTS

For years, Baltimore had a policy that led to tens of thousands of wrongful arrests?. Baltimore was forced to settle with the ACLU in 2010 and enact a series of reforms. The initiative has now more or less ended, but the damage it caused obviously lingers. “Never mind what it did to your jury pool,” Simon told the Marshall Project. “Now every single person of color in Baltimore knows the police will lie.”

Apr 30 12:09

71% OF WALL STREET BANKERS ADMIT THEY ARE TOO BIG TO FAIL (AND UNDERPAID)

Wall Streeters are not happy. According to the latest Bloomberg poll, 48% believe they are paid less (or much less) than they had hoped for.

With the biggest banks cutting costs as new regulations force derisking and deleveraging (in theory), pay is taking a hit (although not so much for the CEOs). As one headhunter noted, "they're still making decent money, but it’s nothing like 2007," but ironically, a massive 71% of Wall Street bankers admit that their banks are still Too Big To Fail.

Apr 30 10:35

US army exercise on preventing civil unrest spread to Tennessee

New videos have been released over the "riot control teams" for the last few weeks. National Guard along with police and US military forces undertake training exercises across the United States. Training is based under riot control and martial-law scenarios.

According to the officials, the 134th Air Refueling Wing of the Tennessee Air National Guard and the Knoxville Police Department trainings take place once in a month. The troops take turns of being rioters, who throw objects and powder at each other.

"We use this training because we know that if we have to use it in the outside world or within a base then we're ready," National Guard official said.

The troops are to deal with civil unrest and domestic disorder.

The police officers are training the Guard troops, "in case they ever come in contact with a riot control situation," according to the official.

Webmaster's Commentary: 

It is obvious the government knows that some huge financial correction is going to hit the US and world economy, which could well plunge some portions of this country into chaos.

And as a Christian pacifist, who never advocates violence, I am urging Mike's readers and listeners NOT to give this government the war they are prepared to fight and win against you, as these exercises demonstrate.

Be calm, prepare, the best you can, and have patience.

The next major change in government will not be won with weapons, but with computer keyboards, sharing what you know with whom you know.

Apr 30 10:15

America’s Police Will Fight the Next Riot With These Stink Bombs

As protesters and police officers clash on the streets of divided cities such as Baltimore, Maryland, and Ferguson, Missouri, some police departments are stockpiling a highly controversial weapon to control civil unrest.

It’s called Skunk, a type of “malodorant,” or in plainer language, a foul-smelling liquid. Technically nontoxic but incredibly disgusting, it has been described as a cross between “dead animal and human excrement.” Untreated, the smell lingers for weeks.

The Israeli Defense Forces developed Skunk in 2008 as a crowd-control weapon for use against Palestinians. Now Mistral, a company out of Bethesda, Maryland, is providing it to police departments in the United States, including the Ferguson PD.

Webmaster's Commentary: 

JUST great: instead of dealing with the situations which led to the protests in first place (like police brutality, which is a national embarrassment here in the US), police departments are going to control crowds with stink bombs developed to be used by Israelis against Palestinians; and then to address any issues the Palestinian people have with them constructively.

Apr 30 09:54

CAVING IN TO CORPORATISM: ENDGAME FOR SECRET “TRADE” PACT NEGOTIATIONS

Two game-changing trade agreements — the Transatlantic Trade and Investment Partnership (TTIP) and its sister pact, the Trans Pacific Partnership (TPP) — are perilously close to completion. Their basic aims are three-fold: to elevate the rights of “investors,” that is of corporations, above the rights of citizens; to transfer sovereignty from the seats of national government to the corporate HQs of the world’s largest multinationals; and to cement Western domination of the global economy for the foreseeable future.

Webmaster's Commentary: 

This is the last bitter step of corporations owning the world, setting legislation norms, and pretty much, in this country, completely ignoring the needs and concerns of American citizens.

Multinational corporations have pretty much owned the world for some time now; these pacts simply make it "official". That is why Obama won't even let Congress see the pertinent documents on these treaties.

Apr 30 09:18

Billionaire Hypocrisy: George Soros May Owe $7 Billion In Taxes

“You support President Obama’s proposal to increase taxes on the wealthy?” That was the question put to George Soros on CNN some three years ago. Here was his answer:

Yes, very much… the super bubble really resulted in creating a great increase in inequality, and now we have the after effect where you have slow growth, but if you could have better distribution of income, then the average American would actually be better off.

Apr 30 08:19

The Great Unwind Begins: US Dollar Plunges To 2-Month Lows

Just when you thought it was safe to pile all your money (at maximum leverage) into USD-denominated assets, the greenback plunges... The last 4 days have seen the 2nd biggest drop in 6 years. This has very significant consequences for a world that has become entirely consensus-based across at least 5 major themes... This poses a problem for talking-heads: if USD strength as indicative of US economic strength... what does a plunging USD imply?

Webmaster's Commentary: 

It will be good for US exporters! Bad for people buying imported products in the US!

Apr 30 08:15

The Dwindling US Economy

By Paul Craig Roberts

The announcement on April 29 of a barely positive GDP first quarter 2015 growth rate of 0.2 percent (two-tenths of one percent) is an intentional exaggeration...

Apr 30 07:59

Economic growth? Obama shoots himself in the foot

The world’s biggest economy ground to a standstill in the first quarter of 2015 wracked by massive job losses in the oil sector, falling personal consumption, weak exports and droopy fixed investment. Real gross domestic product (GDP), the value of the production of goods and services in the US, increased at an abysmal annual rate of just 0.2 percent in Q1 ’15 according to the Bureau of Economic Analysis demonstrating conclusively that 6 years of zero rates and Large-Scale Asset Purchases (LSAP)– which have enriched stock speculators, inflated the largest asset-price bubble in history, and exacerbated inequality to levels not seen since the Gilded Age– have done nothing to improve the real economy, boost demand or reduce unemployment. As the BEA data illustrates, the US economy is basically DOA, a victim of criminal congressional negligence and Central Bank chicanery.

Apr 30 07:57

Fury rises at Disney over use of foreign workers

At the end of October, IT employees at Walt Disney Parks and Resorts were called, one-by-one, into conference rooms to receive notice of their layoffs. Multiple conference rooms had been set aside for this purpose, and in each room an executive read from a script informing the worker that their last day would be Jan. 30, 2015.
Microsoft Build 2015 roundup
Build 2015 UBER mentions: #ITBW rounds up the best Build 2015 roundups

True to form, yesterday Microsoft began the keynote of its Build 2015 developer conference, discussing
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Some workers left the rooms crying; others appeared shocked. This went on all day. As each employee received a call to go to a conference room, others in the office looked up sometimes with pained expressions. One IT worker recalls a co-worker mouthing "no" as he walked by on the way to a conference room.

Apr 30 07:36

16 Signs That The Economy Has Stalled Out And The Next Economic Downturn Is Here

If U.S. economic growth falls any lower, we are officially going to be in recession territory. On Wednesday, we learned that U.S. GDP grew at a 0.2 percent annual rate in the first quarter of 2015.

Apr 30 07:22

Wynn share loss wipes out $2.2 billion in stock market value

The steep drop in value followed Wynn Resorts’ Tuesday earnings report. The company reported a first-quarter loss of $44.6 million, or 44 cents a share, on revenue of $1.09 billion. Sales fell 28 percent year over year, and the company missed analysts’ consensus estimates on earnings per share by nearly 50 percent.

The results were tied to a slump in Macau, where gaming activity has fallen as government officials have cracked down on corruption and curbed junkets to the market.

New restrictions on travel from mainland China to the island haven’t helped, either.

Apr 30 06:43

U.S. and UK GDP Fall Heralds Recession – ZIRP to Continue

– U.S. first quarter GDP grew 0.2%, down from 2.2% last quarter
– U.K. GDP for first quarter was 0.3%, last than half the previous quarter’s figure
– Large inventory build up in the U.S. may mask deep recession
– Zero percent interest policies (ZIRP) to continue despite suggestions to contrary
– Global economy vulnerable to recession and depression

Apr 29 22:01

The Public Sector Is A Milk Cow For Private Enterprise

Social Security and Medicare are under attack from Wall Street, conservatives, and free market economists. The claims are that these programs are unaffordable and that the programs can be run more efficiently and at less cost if privatized.

Apr 29 17:16

The US Dollar Just Took a Massive Plunge

After the Commerce Department released their assessment of the US Economy, the markets were not pleased. The data revealed that America’s GDP has only grown at a 0.2% annual rate. Both American and European stock markets dipped, with the Dow Jones industrial average dropping 49.78 points, and Nasdaq losing 19.71 points. What was even more shocking was the sudden drop in the value of the US dollar, which fell to 9-week lows.

This marks the second biggest drop in 6 years, and the worst decline since the dollar began its meteoric rise in 2014. Despite this, recent polls show that American confidence in the economy is remaining stable. However, it’s hard to say how long the media can maintain this level of optimism if this trend continues. As Zero Hedge put it, “This poses a problem for talking-heads: if USD strength is indicative of US economic strength… what does a plunging USD imply?”

Apr 29 14:45

Obama increased debt-per-household by $50,521 in first term

During Barack Obama’s first term as president of the United States, the debt of the federal government increased by $5.8 trillion, which exceeds the combined debt accumulated under all presidents from George Washington through Bill Clinton.

The new federal debt accumulated in Obama's first term equaled approximately $50,521 for each of household in the country.

Apr 29 14:14

How is this not considered excessive?

Apr 29 13:51

The Public Sector Is A Milk Cow For Private Enterprise

Social Security and Medicare are under attack from Wall Street, conservatives, and free market economists. The claims are that these programs are unaffordable and that the programs can be run more efficiently and at less cost if privatized.

The programs are disparaged as "entitlements." The word has come to imply that entitled people are getting something at great cost to everyone else. Indeed, entitlements have become conflated with welfare.

Apr 29 13:38

Small Caps Signal Trouble Ahead

Apr 29 13:28

US Imports Collapse Most Since Lehman

Apr 29 13:22

Negative interest rates put world on course for biggest mass default in history

Here’s an astonishing statistic; more than 30pc of all government debt in the eurozone – around €2 trillion of securities in total – is trading on a negative interest rate.

Apr 29 12:48

Wal-Mart to build 115 new stores in China

Apr 29 12:47

Employment in oil driven Texas is falling!

Apr 29 12:42

THE WAR ON CASH ESCALATES: CHASE CRACKS DOWN ON CASH... IS YOUR BANK NEXT?

The Federal Reserve bank and its owners, the largest banks on Wall Street, want badly to be able to charge you interest for the privilege of depositing your funds. The problem is getting you to stand for it. Depositors already complain vigorously about zero percent returns on checking and savings accounts. If they must start actually paying the bank to hold funds on deposit, many will opt to simply withdraw the cash and stuff it under their mattress or into a safe deposit box. That simply won’t do.

Apr 29 12:25

Fed: All calendar references removed

Following through on indications in March, the Federal Open Market Committee on Wednesday offered no changes to its zero interest rate policy.

Not only did it not hike rates, it also removed all hints for what may lie ahead. Calendar references were deleted completely from the post-meeting statement.

Apr 29 11:55

“Historically harsh” winter weather slowed U.S. economic growth substantially

As temperatures plummeted this past winter and snowstorms crippled parts of the Northeast, consumer spending nose-dived and U.S. economic growth stalled.

The Department of Commerce reported today that the gross domestic product (GDP) increased at just a 0.2 percent annual rate in the first quarter of 2015 compared 2.2 percent during the final quarter of 2014.

“The weather impact was evident in weakness in consumer spending,” Reuters reported. “Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, slowed to a 1.9 percent rate. That was the slowest in a year and followed a brisk 4.4 percent pace in the fourth quarter.”

Apr 29 11:41

House Republicans Want To Block Predatory Lending Protections For American Troops

House Republicans are pushing legislation to block predatory lending protections for American soldiers, under pressure from the banking lobby.

GOP lawmakers tucked the deregulation item into the National Defense Authorization Act -- a major bill setting the military's funding, along with a number of other controversial terms on Guantanamo Bay and other issues. If the banking item is enacted, it would impose a one-year delay on new Department of Defense rules meant to shield military families from abusive terms on payday loans and other forms of high-interest credit. The bill is being considered Wednesday before the House Armed Services Committee.

Apr 29 11:10

WE DEMAND that the British Government Issues through its Treasury Debt-Free and Interest-Free Money – as it did in 1914!

The Bradbury Pound in 1914 is the model for what more and more people are waking up to:

banks create ‘money’ from thin air as Credit and charge interest for it;
central banks lend it to governments – at interest – as national or public debt – as ‘public spending borrowing requirement';
governments have gradually handed over their monetary sovereignty and seignorage to the City;
the myths surrounding money are being perpetuated by teaching institutions such as the London School of Economics which does not teach what ‘money’ is or who has the power to create it and how:

the difference between interest-free Cash and interest-bearing Credit.

Webmaster's Commentary: 

More people are starting to realize how they have been scammed by bankers and government into paying interest on the public currency.

Apr 29 11:09

Russia Seizes Assets of Poroshenko's Chocolate Factory

If you aren’t hiding in your basement from Poroshenko’s artillery shells, you are probably enjoying a delicious bar of Poroshenko chocolate. This is the bizarre “ying/yang” duality of life. But not anymore! Because Russia, which obviously hates all that is sweet in the world, has rudely seized the assets of Poroshenko’s confectionery factory in the city of Lipetsk. As Reuters notes:

“Poroshenko, nicknamed the Chocolate King, promised when he was elected last May to sell Roshen, which takes its name from the middle two syllables of his surname and had pre-crisis annual sales of $1.2 billion.”

Sold (finally!) to Russia, for $0.00. Have a nice day.

Apr 29 11:06

Labor Department won't investigate alleged Edison H-1B visa abuses

The U.S. Labor Department will not investigate allegations that Southern California Edison Co. abused a popular visa program for skilled foreign workers, according to senators who requested the probe.

A top Labor official said an investigation could not be opened because there was no complaint from someone adversely affected by the use of the H-1B visas and no reasonable cause to believe the company violated the rules governing the visas.
Senators seek federal investigation of alleged H-1B visa abuse at Edison
Senators seek federal investigation of alleged H-1B visa abuse at Edison

The Labor Department "has not received a complaint from an aggrieved party or a credible source, and other avenues for investigation are not appropriate at this time," M. Patricia Smith, the department's solicitor, said in a letter dated Tuesday.

Apr 29 10:50

By 2030 over 50% of Colleges will Collapse

Apr 29 10:45

Missile Defense Agency Spent $10 Billion on 4 Projects that were Cancelled

The Department of Defense started, then discarded, four massive missile defense projects, wasting $10 billion on technology that wasn’t capable of protecting the United States from foreign attack.

An investigation by the Los Angeles Times identified four programs developed by the Missile Defense Agency (MDA) that did not work as advertised:

The Sea-Based X-Band Radar (SBX), an enormous floating radar ship, was supposed to be able to detect even tiny incoming objects into U.S. airspace from thousands of miles away. SBX, built by Boeing and Raytheon, was going to guide rocket interceptors to enemy ballistic missiles before they could reach U.S. soil. But after a $2.2 billion investment, MDA realized SBX couldn’t distinguish between missiles and decoys. The technology has been mothballed at Pearl Harbor in Hawaii.

Webmaster's Commentary: 

Apr 29 10:35

2 Choices: Legislation Redestribuing Wealth Or Revolution Distributing Poverty

One of my favorite historians is a guy named Will Durant.

Durant is unfortunately no longer with us, but he and his wife Ariel made history more interesting than all the soap operas my mother used to watch when I was a kid.

I thought about something he wrote this morning when I glanced at the paper and saw a headline about the riots in Baltimore.

In Durant’s seminal work on Louis the XIV, he wrote that “the men who can manage men manage the men who can manage only things, and the men who can manage money manage all.”

Now if the quote is confusing, just focus on the last eight words.

Apr 29 10:26

Gold And Silver – The U S Is A Corporation. PMs Stand In The Way

Where have all the trillions of newly created “money” gone? Into the failed and bankrupt banking scam conducted by the elites. All world-wide monetary policy undertaken by the central banks has been for the sole purpose of protecting the failed banking financial structure, propping up the fiat currencies.

Apr 29 10:21

12-Year Old Child Reveals One of the Best Kept Secrets in the World

Apr 29 10:13

Official: Baltimore Cutting Water to Hundreds of Residents and Zero Corporations

Don't shut off our water! That's what the dozens who have gathered at Baltimore's City Hall are demanding for the over 20,000 residents who may have their water cut off for not paying their water bills.

DAMIEN HENSON, BALTIMORE HOMEOWNER: About a month and a half ago I got a cutoff notice for $3720. So I was here today to tell my story and share my story, because we have a lot of unanswered questions. They don't tell you anything. They just tell you, they'll pretty much--yes. Pay the bill. They tell you pay the bill. They come out and read your meter, and the rest is on you. So I just wanted to tell my story, because I feel like it's pretty ridiculous that I have a $3700 water bill.

Apr 29 10:13

First Detroit, Now Baltimore Is Shutting Off Water To The Poor

Usually, when you see someone making a mistake, and if you’re relatively intelligent, you try hard not to replicate that mistake. Because when you see that something doesn’t work or causes unnecessary harm or danger, then the normal reflex is to head in the other direction. Try something else. Try something that works.

Which is why I’m having a rather hard time understanding why it is that the City of Baltimore has apparently made the decision to follow in the footsteps of my adopted hometown Detroit and is shutting off the water in poor peoples’ homes for falling behind on their bills while allowing the larger – and significantly wealthier – corporations and businesses to slide on by. Even though they are the ones most responsible for the related deficit that the city currently finds itself in.

Apr 29 10:12

Baltimore Residents protest city's planned water shut-offs

A couple of dozen protesters rallied outside City Hall on Monday to call on officials to reverse a decision to begin turning off service for water customers who are behind on their bills.

Sharon Black, a Waverly woman who helped organize the protest, called on the city to delay any water shut-offs. The protesters want the City Council to investigate the reasons why the delinquent water customers are late in paying.

"We're in a state of shock and outrage," said Black, an activist with the People's Power Assembly. "People aren't paying their water bills, because they can't afford to."

Webmaster's Commentary: 

Not the smartest thing for Baltimore to do right now!

Apr 29 10:05

Sea life ecosystem collapses...

Apr 29 09:22

McDonald’s gets rid of 7 sandwiches

After years of bulking up its menu with everything from oatmeal to lattes to wraps, McDonald’s Corp. MCD, -0.63% has cut a number of items from its U.S. offerings.

Getting the ax: the Deluxe Quarter Pounder burger, six chicken sandwiches, and the honey mustard and chipotle barbecue snack wraps, according to Bloomberg. It was a “rolling removal” so restaurants discontinued the sandwiches as they ran out of them, company spokeswoman Lisa McComb told Bloomberg.

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