ECONOMY | WHAT REALLY HAPPENED


ECONOMY

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.

Apr 11 06:12

Anti-EU Forum Athens

Call for an International Forum (Athens 26-28/6/2015) and the establishment of a European Co-ordination of Left political parties, popular organisations and social movements fighting for exit from the European Union, the euro and NATO.

?n all European Union (EU) countries and especially those belonging to the Eurozone, vicious anti-popular policies are pursued relentlessly by the EU and its member governments: massive cuts in social spending and wages, increasing taxation for the working people and decreasing that for the rich, shameless subsidies to large corporations supposedly to create jobs that never materialize or are short-lived, privatizations and dismantling of public services and social security. The result is an exponential increase in poverty, social inequality, mass unemployment and lack of job security.

Apr 11 06:11

"Odious Debt" Has Finally Arrived: Greece To Write Off "Illegal" Debt

As a reminder, this is what Odious Debt is: In international law, odious debt is a legal theory which holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are thus considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.

Apr 11 05:53

GE to sell bulk of finance unit, return up to $90 billion to investors

The company on Friday outlined a restructuring plan that includes buying back up to $50 billion of its shares, selling about $30 billion in real estate assets over the next two years and divesting more GE Capital operations. GE stock jumped 8.5 percent.

"The stock has been under-owned by institutional investors, and that's going to change now."

(*P.U.)

Apr 10 20:16

Want a 60% instant raise? Monetary reform and public banking deliver ~$3 TRILLION to Americans yearly

*hyperlinks live at source*

“That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt. Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. …But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. …It is absurd to say that our country can issue $30,000,000 in bonds and not $30,000,000 in currency. Both are promises to pay; but one promise fattens the usurer, and the other helps the people.” - Thomas Edison and Henry Ford, interview with NY Times, 1921

The punchline in my series teaching about what the US uses for money is every US household would receive annual benefits equal to a 60% raise:

Apr 10 17:15

50 Ways To Rig the Markets

Apr 10 16:01

How Wall Street captured Washington’s effort to rein in banks

In the aftermath of the 2008 financial crisis, Keith Higgins was certain: Banks weren’t to blame.

Higgins, a top attorney at prominent law firm Ropes & Gray LLP, was chairman of an American Bar Association committee on securities regulation. As such, he lobbied strenuously against a rule U.S. regulators were drafting that would require banks to disclose a lot more about asset-backed securities like those that had just torpedoed the economy.

Apr 10 15:33

Sears Taps Real Estate Equity

Sears, which owned or leased 1,725 Kmart and Sears stores combined as of January, expects to earn $2.5 billion from the sale.

Apr 10 13:31

Russia+Turkey=Free Trade Zone?

Sanctions imposed on Russia by the US and the EU have spurred its search for new directions for cooperation. In this context, Russian leadership sees Turkey as one of the partners with whom it is vital to consolidate economic relations. Moscow and Ankara are now discussing plans for creating a free trade zone. In order to find out how feasible the project is, RIAC editorial board asked N.Ulchenko, head of the Turkish Studies Department at RAS Institute of Oriental Studies, and L.Ratner, independent expert, to speak on the matter.

Apr 10 12:32

Why Japan will Default

While Portugal, Italy, Ireland, Greece and Spain, the PIGS, get all the negative press, Japan by far has the largest national debt at 240% above GDP. Why are the PIGS the deadbeats when they have an average debt-to-GDP ratio of about 140% by comparison?
Moreover, you would think the sky is falling on the U.S. where the media and congress get apoplectic over the national debt. It is true that America has the largest debt level in the world at $18.1 trillion, but that just barely pushed above its GDP level in 2014, to 106%.
Then, we must ask does the US congress and media fret over the national debt raising the specter of bankruptcy, but fail to mention that Japan's debt absolutely dwarfs theirs? In short, why is Japan being given special treatment and the PIGS the bums rush? The answer is simple, geopolitics.

Apr 10 12:12

Monsanto Profits Fall Another 15% In April

Apr 10 11:43

Iran's Richest Man Executed for White Collar Crime

Apr 10 10:57

19 Signs That American Families Are Being Economically Destroyed

The systematic destruction of the American way of life is happening all around us

Apr 10 10:40

Cashin Says - Fed Has Everyone Guessing

Apr 10 09:18

Teachers Warn Of "Victorian" Poverty As Socks In Short Supply And Stocks At All-Time Highs

Just yesterday we highlighted the sad, albeit not at all surprising fact that Abenomics is destroying Japan’s middle class as the BoJ’s relentless bid for all financial assets coupled with non-existent wage growth is increasing the disparity between the haves and the have-nots just as one would expect from a set of policies which center around the relentless printing of fiat currency in order to inflate the assets most likely to be held by the wealthiest citizens.

Apr 10 08:50

U.S. Agencies Block Technology Exports for Supercomputer in China

U.S. officials are blocking technology exports to facilities in China associated with the world’s fastest supercomputer, a blow to Intel Corp. and other hardware suppliers that adds to the list of tech tensions between the two countries.

Apr 10 08:27

Summit of the Americas: U.S. Agenda is to Push TPP to Split Latin American Integration

Miguel Tinker Salas say the new U.S. agenda is an old one, a free trade agreement; this time it's the Trans-Pacific Partnership, many call NAFTA on steroids -

Apr 10 08:20

When You Think The Financial World Can’t Get Any Crazier… This Happens

The world has truly gone mad.

We’ve become accustomed somewhat in the last several years to historical anomalies such as zero percent interest rates, Quantitative Easing, competitive currency devaluation, etc. by governments and central banks the world over.

It’s almost become the new norm.

But then there’s always something that happens that shocks us all over again.

And just like with any other addiction, the infusion of ridiculous and unsustainable policies has to be that much more potent to have any effect.

Two such developments have just taken place in the financial world.

Apr 10 08:19

'Silicon Valley is coming' warns JP Morgan CEO

In a recent letter to shareholders, JP Morgan CEO Jamie Dimon warned of growing competition for Wall Street in the form of tech start-ups.

“Silicon Valley is coming,” Dimon said in the letter, which touched on technologies as varied as mobile payments, bitcoin and peer-to-peer lending.

“There are hundreds of start-ups with a lot of brains and money working on various alternatives to traditional banking,” the CEO warned.

Webmaster's Commentary: 

"And they must be DESTROYED if we are to keep the human race as our debt-slaves!!!!"

Apr 10 08:18

French workers stage nationwide anti-austerity strike

On Thursday, workers from both public and private sectors walked off their jobs and took part in anti-government rallies all over the European country.

In the capital city of Paris, more than 100,000 protesters took to the streets to push the government of President Francois Hollande to reconsider its austerity policies.

Apr 10 08:12

US Agribusiness, GMOs and The Plundering Of The Planet

Small family/peasant farms produce most of the world’s food. They form the bedrock of global food production. Yet they are being squeezed onto less than a quarter of the planet’s farmland. The world is fast losing farms and farmers through the concentration of land into the hands of rich and powerful land speculators and agribusiness corporations.

Apr 10 07:53

GREEK DEBT REPUDIATION: Is Varoufakis about to make a distinction between borrowing obligations and odious debt?

Some of you may remember a Slogpost here three years ago in which strong (but also very odd) allegations were made about how Berlin actually encouraged the Papandreou regime in 2009 to exaggerate the size of Greece’s debt hole. To quote the piece:

‘Somewhere in the midst of these talks, Berlin requested a smaller meeting with the Greeks. At this meeting, three sources (two Greek and one German) allege, the small German delegation made an astonishing observation: the situation would “have to look more desperate” in order to justify a bailout to the other eurozone members. That is to say, only widespread fear of the entire eurozone being damaged would get the member States to pile in with bailout monies.’

Although several German (and French) motives were involved at the time, in the light of Syriza’s recent election to power in Greece, the rationale behind this strange request is becoming a little more clear.

Apr 10 07:49

PetroChina overtakes ExxonMobil to become world’s biggest energy company

The capitalization of China’s biggest oil producer PetroChina reached $352.8 billion during Thursday trading in Shanghai, surpassing ExxonMobil as the world’s most valuable energy company for the first time since 2010.

Apr 10 07:43

Pentagon kick-starts program to maintain superiority of US technology

“New in Better Buying Power 3.0 is a stronger emphasis on innovation, technical excellence, and the quality of our products,” Under Secretary of Defense for Acquisition, Technology and Logistics Frank Kendall wrote in a memo ordering the program's implementation. “We will continue our work to improve productivity and efficiency, but we must also turn out attention increasingly to our ability to innovate, achieve technical excellence, and field dominant military capabilities.”

Webmaster's Commentary: 

Translation: "We botched the F-22, F-35, Independence class, the Gerald Ford, SBX, etc. so badly we need you taxpayers to fork over another few trillion in the hope we can actually do things better."

Apr 10 07:37

New York Daily News Losing $30 Million a Year – [Corporate] Media is DYING

Webmaster's Commentary: 

I changed "Mainstream" to "Corporate" in the headline, because the corporate media is no longer the mainstream. Their audience numbers prove they are a minority influence on the minds of America (although they will claim otherwise).

Apr 10 05:40

Crude oil slides after volatile week

Crude oil slides after volatile week, but stays above $50-a-barrel mark

(*A volatile week of , one might imagine , derailing oil trains , sabotaging pipe lines , bombing oil refineries in middle east countries , price fixing , and the best they could do is keep it over $50 a barrel ?)

Apr 10 05:11

Deutsche Bank on brink of biggest ever Libor-rigging fine

German financial giant set to exceed $1.5bn paid by UBS over rigging of interest rate benchmark

Deutsche Bank is close to agreeing a record fine of more than $1.5bn (£1bn) over manipulating Libor, with the German financial giant also expected to plead guilty to fraud in the UK.

The bank will be one of the last to pay out in the Libor-rigging scandal, which emerged almost three years ago when Barclays blew the whistle on rigging rates.

The Financial Conduct Authority in London, as well as US regulators, are close to agreeing a fine with Deutsche Bank, which will be the biggest-ever bill for Libor.
***
Banks have also been fined by Dutch, Swiss, and EU regulators for manipulating benchmarks. For years, traders colluded to manipulate Libor - a benchmark that sets the interest rates for billions in financial products.

Apr 10 04:55

Scott Walker's trip to Great Britain cost taxpayers $138,200

— On the eve of another foreign trip, Gov. Scott Walker's administration disclosed Thursday that Wisconsin taxpayers paid $138,200 for his February trip to Great Britain — a trade mission laden with political overtones from his likely 2016 presidential bid.

The Wisconsin Economic Development Corp., which organized the six-day trip to England, laid out the costs in response to a request from the Milwaukee Journal Sentinel, doing so a day before another taxpayer-funded, weeklong European trip that Walker is taking as he seeks to boost his foreign policy credentials.

(*Things will be way different , once he gets in !)

Apr 09 15:46

Wall Street Fees Wipe Out $2.5 Billion in New York City Pension Gains

The Lenape tribe got a better deal on the sale of Manhattan island than New York City’s pension funds have been getting from Wall Street, according to a new analysis by the city comptroller’s office.

The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return, Comptroller Scott M. Stringer said in an interview on Wednesday.

“We asked a simple question: Are we getting value for the fees we’re paying to Wall Street?” Mr. Stringer said. “The answer, based on this 10-year analysis, is no.”

Until now, Mr. Stringer said, the pension funds have reported the performance of many of their investments before taking the fees paid to money managers into account. After factoring in those fees, his staff found that they had dragged the overall returns $2.5 billion below expectations over the last 10 years.

Apr 09 15:39

Iran – The Story behind the Story

Allowing a country like Iran destroying the US hegemon’s power base by taking a sovereign decision to abandon the dollar for oil and gas trading – no way.

It would have meant the end of the dollar as the world’s chief reserve currency, and giving up the instrument of coercing the world into accepting Washington’s dictate, the tool that serves to dish out sanctions left and right – no way!

Washington’s seemingly blind and preposterous arrogance drives the closest allies into the ‘adversary’s camp. The FED (Federal Reserve Bank) announced on 2 April 2015 that it fined the German Commerz bank with 1.7 billion US dollars for dealing with Cuba, Sudan and Iran – Washington sanctioned countries.

When even the staunchest stooges of empire seek alliances in the East, the writing is on the wall, that the economic winds are shifting, that a tectonic sea-change is in the offing and that the Iran nuclear deal, one way or another, doesn’t really matter in the foreseeable future.

Apr 09 15:17

13 Major Global Economic Worries

Apr 09 14:05

Walgreens to renounce U.S. citizenship

Walgreens CEO, Gregory D. Wasson, announced that it plans to move its corporate headquarters to Switzerland as part of a merger with Alliance Boots, a European drugstore chain. The move will allow Walgreens profits to be taxed a lower rate in Switzerland and reduce Walgreens taxes in Illinois.

Walgreens plans the move, even though the taxpayers of Illinois gave it a $6 million tax credit over a period of 10 years, provided $625,000 in training money and $875,000 in additional tax incentives.

Apr 09 13:59

World's largest economy (PPP) 1000-2015

Apr 09 13:45

Eiffel Tower, schools, airports shut as thousands take to French streets in nationwide strike

A nationwide strike in France has seen thousands of people march instead of going to their regular jobs on Thursday. The union-led protest affected public services, air traffic, radio broadcasts and Paris’ most-famous landmark.

The strike is a day after President Francois Hollande's government said it expected one percent economic growth this year and lowered its forecast for 2016 and 2017.

The unions are protesting against budget cuts and a number of other grievances they have against the government or employers.

Thousands of protesters marched in Paris between Place d’Italie and the Invalides

Apr 09 13:44

BRICS $100bn reserve currency pool to soothe global shocks – Medvedev

The creation of the BRICS reserve currencies pool worth $100 billion will allow member states to depend less on negative processes in the world economy and bypass market volatility, said Russian Prime Minister Dmitry Medvedev.

Apr 09 13:31

Iran Joins China-Led Asian Infrastructure Investment Bank

The China-led Asian Infrastructure Investment Bank accepted Iran's membership on Tuesday, the Iranian embassy in Beijing said.

Apr 09 13:22

Israel Applies To Become Founding Member of China Development Bank

The Israeli government has submitted its application to become a founding member of a controversial Chinese-led development bank, in a move that is likely to cause consternation in Washington.

Newly re-elected Prime Minister Benjamin Netanyahu signed a letter to join the Asian Infrastructure Investment Bank (AIIB) by the March 31 deadline, according to the country’s foreign ministry.

Israel would become the latest country to join the 40-nation bank, which already includes the UK, Germany, France, Italy and Australia.

“Israel’s membership in the Bank will open opportunities for integration of Israeli companies in various infrastructure projects, which will be financed by the bank,” said an Israeli government statement.

The creation of the Bank, under the vision of Chinese premier Xi Jinping, has attracted criticism from the United States, who has warned their closest allies against courting better relations with Beijing.

Apr 09 12:06

Cost of negative bank rates

So you thought that the unimaginable could not happen

Apr 09 11:25

Biggest Deal Of The Year, Shell Buys The British BG Group

Royal Dutch Shell has agreed to buy BG Group by 47 billion pounds — equivalent to 69,700 million dollars, as both companies announced Wednesday. The operation gives the big oil company Shell participation in global markets for natural gas in oil prices decline.

http://whatisusa.info/biggest-deal-of-the-year-shell-buys-the-british-...

Apr 09 10:37

Consensus Global EPS Growth Now Vs. 6m Ago

Apr 09 10:25

Widespread Outages A Sign Of Bigger Problems To Come?

A massive power outage blacked out thousands in D.C. and Maryland and officials say the issue started with transmission equipment dozens of miles away.

Now– some are raising the red flag about how fragile the power grid really is.

Webmaster's Commentary: 

"Look, we are really sorry about the blackouts. Hey, it hit the White House, too, so don't complain to me! And we are sorry about the water main break that flooded the subway in New York, but look on the good side; it probably drowned all those rats and homeless people. And yes, the decay of the water systems out west is a huge part of the reason California is going back to desert, and I know you are all complaining about the high taxes and wondering why that money is not being spent on this nation's infrastructure. But government is choosing. Government is prioritizing, and right now the priorities we have are propping up Wall Street, truckloads of cash and weapons for Israel, and paying for all these wars across the globe, and you Americans better stop whining and complaining and get with the program, dammit!" -- Official White Horse Souse

Apr 09 09:36

Corporate Media: Cash Is Dirty, We Must Ban It

Apr 09 09:31

Louisiana Bans Cash Transactions on Used Goods!

The State of Louisiana has just passed new legislation BANNING cash transactions for used goods, mandating that any purchase be made via check, electronic transfers, or money order issued to the seller.

The draconian new law also requires all transactions to provide the State documentation of a description of the goods sold, and the client’s personal information including name, address, driver’s license number and the license plate number!

Apr 09 08:49

Biggest Deal Of The Year, Shell Buys The British BG Group

Royal Dutch Shell has agreed to buy BG Group by 47 billion pounds — equivalent to 69,700 million dollars, as both companies announced Wednesday. The operation gives the big oil company Shell participation in global markets for natural gas in oil prices decline.

http://whatisusa.info/biggest-deal-of-the-year-shell-buys-the-british-...

Apr 09 08:48

One Last Look At The Real Economy Before It Implodes - Part 4

Brandon Smith
Activist Post

In the first three installments of this series, we examined the realities behind supply and demand, unemployment and personal debt, and national debt. As has been proven in each consecutive article with ample evidence, mainstream establishment numbers are, for the most part, utter garbage. They are not legitimate. They are meaningless...

In this installment, we will explore the purpose of these lies; to hide the imminent destruction of our currency — by hook, by crook and by fiat...

Apr 09 08:44

Russian PM offers Thailand free trade zone with Eurasian Economic Union

Russian Prime Minister Dmitry Medvedev has suggested Thailand considers creating a free trade zone with the Eurasian Economic Union.

Apr 09 08:24

$8.5mn Worth Gold Stolen From Canadian Mine In Mexico

The Canadian mining McEwen Mining was the victim on Tuesday, a spectacular robbery at one of its mines in Mexico which criminals appropriated 7,000 ounces of gold worth $ 8.5 million, according to the company.

http://whatisusa.info/8-5mn-worth-gold-stolen-from-canadian-mine-in-me...

Apr 09 07:59

Head of London-listed company linked to illegal clearing of Peru rainforest

The CEO of a company listed on the London Stock Exchange, that aims to become the world’s largest producer of cocoa, is responsible for illegally clearing swathes of rainforest in the Peruvian Amazon, according to a report by the Environmental Investigation Agency (EIA).

The website for the Cayman Islands-based company, United Cacao, implies the company could be a force for positive change in the chocolate business, mostly produced in West Africa, stating that it “seeks to provide a clear path forward for ethically-produced cacao to the world marketplace”.

But the EIA investigation alleges the company’s founder and CEO, Dennis Melka, has illegally deforested about 7,000 hectares (17,300 acres) of mostly primary rainforest. It says he is looking to expand his agricultural plantations by acquiring 450 units of rural private property in the Amazon, in addition to requesting at least 96,192 additional hectares of public land from the Peruvian government.

Apr 09 07:38

Is Wall Street in fear of a recession?

Apr 09 07:23

Greece urges halt to Western sanctions against Russia

Greek Prime Minister Alexis Tsipras has criticized the sanctions against Russia, urging an end to the measures taken by the West over the crisis in Ukraine.

“To get out of this profound crisis we need to leave behind this vicious cycle of sanctions,” Tsipras said following talks with Russian President Vladimir Putin in Moscow on Wednesday.

Moscow has been targeted by a series of sanctions imposed by the United States and the European Union over allegations of having a role in the conflict in eastern Ukraine. The Kremlin says the accusation is “groundless.”

In a tit-for-tat move, Russia has also enforced restrictions on certain food imports from the United States, the EU, Canada, Australia and Norway.

Apr 09 07:13

Jailed for Charging a Cell Phone? 7 Cruelest Instances of Class Warfare in America

There's a scene in the 1935 film adaptation of Charles Dickens’ novel A Tale of Two Cities in which a horse-drawn carriage transporting a hated aristocrat runs over and kills a peasant child—and instead of expressing any remorse over the boy’s death, he's worried that the boy might have injured his horse. It’s a powerful scene that speaks volumes about class oppression and the indifference that the 1% can have for the suffering of the poor. History has a painful way of repeating itself, and in 2015, it is open season on the working class and the poor in the United States. After the crash of September 2008—which brought about the U.S.’ worst economic crisis since the Great Depression of the 1930s—the American working class desperately needed a vigorous New Deal 2.0. Instead, the Great Recession has brought us bank bailouts, corporate welfare, megabank mergers, deepening inequality, the U.S.

Apr 09 06:36

Rich Middle Class, Poor Middle Class

Apr 09 06:35

EU reinstates sanctions on Iranian bank and 32 shipping companies

Iranian Bank Tejarat and 32 Iranian shipping companies will be subject to EU sanctions with immediate effect, after measures were thrown out by a European court, Reuters reports.

The EU's second-highest court annulled a EU asset freeze on Bank Tejarat and 40 Iranian shipping companies in January, finding fault with the legal grounds given by the EU. As with previous cases, the EU responded by re-listing the sanctioned Iranian companies, including Hamburg-based Ocean Capital Administration GmbH, on the basis of new legal grounds.

Webmaster's Commentary: 

With Iran insisting that sanctions be lifted when the final deal is signed, this adding of sanctions is designed to derail the deal and open a path to war.

Apr 09 06:27

PROOF: The World Is ACTIVELY PREPARING to DITCH the DOLLAR — Bill Holter

There is now mounting evidence and undeniable proof that the world is actively preparing for economic life after the death of the Dollar. The facts are now quantifiable, and for those if us who are accustomed to this moment is history where the Dollar is still technically “the world’s reserve currency” and cheap imports fill big box stores, the truth of what’s occurring globally RIGHT NOW as discussed in this interview with Miles Franklin’s Bill Holter is startling – if not downright frightening.

Apr 09 05:10

U.S. Economic Growth at 0%

The numbers are in for the first quarter of 2015 and they aren’t looking promising.

Apr 08 17:31

S&P Cycles Suggest Caution on the S&P

Apr 08 16:51

Global Finance Ditching Dollar and Isolating Doomed West: “Because They KNOW Collapse is Coming”

SGTReport.com

Bill Holter says, “I believe that the world has for the last at least two years, has been preparing themselves to move away from the dollar. But also, they’ve been isolating the U.S., isolating the West, because they KNOW a collapse is coming. And if they can isolate the Western financial system, with them outside the system as much as can be, then they can mitigate the damage to themselves.”

“My hope is that is doesn’t get this bad, but my suspicion is that it will get worse, where you have no access to ATM’s, credit is completely shut off, we may have power, water, electricity supply problems.

Read more

Apr 08 16:32

Bitcoin Can Now Buy Flights To Cuba

Apr 08 15:05

Thirty-two Indicted Over Kickbacks for German Submarines Contract

Another 32 individuals were indicted to stand trial before a Criminal Appeals Court on Thursday for kickbacks given in exchange for Greek Defense Ministry contracts.

The case, concerning a deal for the purchase of German submarines, was uncovered during a major and ongoing corruption investigation into the period when the now jailed Greek former Minister Akis Tsochatzopoulos was at the helm of the Defense Ministry.

Apr 08 15:04

Swiss Banker Involved in Bribery Scandals in Greek Custody

A Swiss senior banker who was among the key suspects in the so-called Siemens scandal as well as in armament programs scandals is currently being held in custody in Greece, as the country’s media pressed earlier today.

An international arrest warrant as been issued for the banker, identified as Jean-Claude Oswald, for some time but he was only recently arrested in Abu Dhabi. The Swiss authorities, though, have initially denied the expatriation of the former executive at BNP Paribas and Dresdner Bank to Greece. According to the same sources, the Swiss national, has already faced a prosecutor in Athens and has been given time to prepare his deposition.

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