ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jul 16 09:26

High street shops enjoy huge sale spike after thieves destroy Welsh town's parking meters

A Welsh town is enjoying a huge spike in sales after all four central parking meters were destroyed.

Retailers in Cardigan, a coastal town in Wales popular with tourists, have claimed profits spiked by as much as 50 per cent after thieves smashed the town’s four parking meters.

The local council’s struggle to find the £22,500 needed for repairs is being greeted with delight by local shoppers and retailers.

“It demonstrates what we’ve been saying for years: if you have lower parking fees, or even no fees, then people will come into town,” Martin Radley, current chairman of Cardigan Traders told the MailOnline.

Jul 16 09:20

Sweet Cakes by Melissa raises record amount of cash on crowdfunding site

Americans are wakin up.They have had it with the so-called homosexual rights movement and put their money where their mouths are!

Supporters of the Oregon bakery Sweet Cakes by Melissa are putting their money where their mouth is.

A crowdfunding campaign for the embattled business has eclipsed $350,000 in little more than two months – a record amount on the Continue to Give site, The Washington Times reports.Jesse Wellhoefer, founder of Continue to Give, said the Sweet Cakes effort has raised more than any previous campaign on behalf of individuals in the three-year-old crowdfunding website's history, the Times said.

Coupled with $109,000 raised through GoFundMe and an undisclosed amount raised through Samaritan's Purse, online donors have contributed upwards of $450,000 to help bakery owners Aaron and Melissa Klein in their legal battle with a state agency that found they discriminated against a lesbian couple when they refused to make them a wedding cake.

Jul 16 09:18

ALL WARS ARE BANKERS' WARS!

"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 for a repost. Please feel free to copy and post everywhere.

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WRH Exclusive
Jul 16 09:12

Global carmakers prepare to return to Iran

Jul 16 08:59

Federal Reserve Spies on France

Following last week's eavesdropping reports, WikiLeaks shared new documents with Libération and Mediapart. This time, the new documents reveal that the NSA was spying on France's best performing companies for economic intelligence purposes.

Webmaster's Commentary: 

The NSA isn't looking for criminals and terrorists. We already proved the NSA cannot break any codes created by real criminals and terrorists. The NSA is spying on law abiding citizens to steal their business secrets, and if they are doing it to the French, they are doing it to YOU!

Jul 16 08:59

America's stock market is shrinking

The number of publicly listed U.S. stocks peaked at a record 7,562 during McGwire's record-setting summer of 1998, according to the Wilshire 5000 Total Market Index. Today, there are just 3,812.

So what gives? Simply put, there are more companies disappearing than entering the stock market.

This isn't a trivial problem that only matters to bankers on Wall Street. Not only do investors have fewer options to invest in, but it directly impacts American jobs.

"We're shrinking the stock market. Unless we figure out how to create a lot more startups and a lot more IPOs, the economy is going to continue to generate jobs at lower rates than it should," said David Weild, former vice chairman at Nasdaq who has testified in Congress about capital markets.

Jul 16 08:51

Wisconsin governor strips workers’ wage protections

With the stroke of a pen, Wisconsin’s governor passed a two-year spending bill which also strikes down a key wage protection law. The prevailing wage law ensured government contract workers were paid comparable rates in any given industry.

“With this budget, taxpayers come first,” said Republican Governor Scott Walker announcing the passage of his $72.7 billion biennial budget.

Jul 16 08:46

Blame the Banks

One of the first lessons I was taught on Wall Street was, “Know who the fool is.” That was the gist of it. The more detailed description, yelled at me repeatedly was, “Know who the fucking idiot with the money is and cram as much toxic shit down their throat as they can take. But be nice to them first.”

When I joined in Salomon Brothers in ‘93, Japanese customers (mostly smaller banks and large industrial companies) were considered the fool. My first five years were spent constructing complex financial products, ones with huge profit margins for us—“toxic waste” in Wall Street lingo—to sell to them. By the turn of the century many of those customers had collapsed, partly from the toxic waste we sold them, partly from all the other crazy things they were buying.

Jul 16 07:56

General Mills Closing West Chicago Plant

Jul 16 07:37

3 Things: Retail, NFIB, Divergences

Jul 16 07:33

Silver Physical Defaults Coming

Jul 16 07:05

Brussels prepares to release emergency loan to get Greece through July

Alexis Tsipras's grip on power suffers a blow with 32 of his own MPs rebelling as the Greek parliament votes in favour of new austerity measure against a backdrop of violence on the streets of Athens

Webmaster's Commentary: 

Jul 16 06:32

SLOPE OF HOPE

Jul 15 21:58

Greece as a Euro ‘Economic Protectorate’

With Greece having agreed late last week to virtually all the Euro finance ministers’ prior demands for concessions, Euro ministers meeting in Brussels over the weekend, July 11-12, were expected to focus on discussing the terms for Greece’s debt restructuring in exchange for the latest Greek concessions. That is what Greek negotiators apparently expected—i.e. before the ministers’ hardline German-led faction raised further demands on Greece and ‘moved the negotiating goalposts’ yet again, to use a sports analogy, by proposing even more onerous requirements for a deal at Saturday’s July 11 finance ministers meeting.

Jul 15 21:54

A Nation Torn: Greece Grapples With 'Humiliating' Austerity Deal

"The scene in Athens is explosive," King's College London professor and Syriza central committee member Stathis Kouvelakis wrote for Jacobin Wednesday afternoon.

Both in and outside of Greek Parliament, tensions are running high.

A largely peaceful anti-austerity rally was disrupted at one point by an hour-long clash between anti-austerity protesters and police, leading to about 50 arrests.

Jul 15 17:03

Thomas Jefferson Warned Us…

Centuries ago, Thomas Jefferson gave the American people this warning: “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” -- Central banks (all over the world), are apparently using this method of conquest…

Jul 15 16:52

Economic hardships in Puerto Rico spur a mass exodus to the US mainland

She became a widow six years ago. Public schools don’t provide a safe environment for her three children. Her income as a hotel manager barely covers living expenses, much less private school tuition. And every two days, she must contend with no running water at home due to austere water rationing measures imposed by the government in response to a prolonged drought.

Jul 15 16:04

California Enacts Vaccine Law That Forces Parents to Choose Between Human Rights and Civil Rights

From flash to bang, it took the politically powerful corporate, medical trade, and government lobbyists just six months this year to gut the human right to informed consent to medical risk taking and the civil right to a school education in California.

They did it by enacting a new law (SB 277) signed by Governor Jerry Brown on June 29, 2015 that denies parents the legal right to file a personal belief exemption to vaccination for religious and conscientious beliefs so their children can attend school.

In order to sign the bill into law, Governor Brown had to abandon his long-standing legislative record as a champion of parental and religious rights and school education.

Jul 15 16:02

Greece debt crisis: Eurozone deal laws backed by MPs

Greek MPs have approved tough economic measures required to enable an €86bn eurozone bailout deal to go ahead.

The new legislation includes tax rises and an increase in the retirement age.

Jul 15 15:59

BREAKING: Greek Parliament Passes 3rd Bailout Agreement; Tsipras Successful in Securing Cross-Party Votes

The controversial third bailout agreement that was negotiated and agreed to– by force, according to Greek prime minister Alexis Tsipras– was passed in the Greek parliament following a tense debate and all-night vote. The deal includes tough reforms and unpopular measures that European creditors have imposed on the people of Greece.

Webmaster's Commentary: 

There will be a run on pitchforks, kerosene, and hemp rope in the Greek hardware stores, I think.

Jul 15 15:52

Greeks Can’t Tap Cash, Gold, Silver In Bank Safety Deposit Boxes

What good is holding gold and silver in a safety deposit box if your bank won’t let you access it?

Jul 15 15:29

Summer Slump: Americans Aren’t Spending

Jul 15 14:45

Germany Never Intended For Greece To Stay In The Euro

There never was going to be any deal. All along, Germany has been seeking to establish conditions that would never be met so that they could force Greece out of the eurozone. But the Germans had to do this subtly so that they would end up looking “reasonable” and would not turn the rest of the eurozone against them. So why does Germany want to get rid of Greece? Well, to be honest, it is because the Germans are sick and tired of paying for Greek mistakes. In Germany, there is an obsession with having a balanced budget.

Jul 15 14:28

Banksters make out like bandits on Iran deal

Never mind the hubris involved in the U.S. government dictating to a sovereign nation whether it can procure or create specific weapons systems for its own protection; the Iran deal is a boon to banksters and the military-industrial complex.

Jul 15 14:16

Obamacare Was Supposed To Kill Medicare Advantage. It Only Made It Stronger.

Critics immediately seized on the merry-go-round of Washington — how another top White House official has found a job with the lobbyists she used to negotiate with.

“Is there a revolving-door emoji?” NPR’s Jacob Goldstein ruefully tweeted.

But I think there’s a very telling line, buried near the bottom of the Times‘ 798-word story.

“Asked about her priorities, Mr. Tavenner said she wanted to protect Medicare Advantage, the program under which private insurers manage care for more than 30 percent of the 55 million beneficiaries of Medicare.”

There’s a reason why private insurers care so much about Medicare Advantage: It’s arguably their hottest market right now.

Jul 15 13:58

Ron Paul Warns: Greece Today, America Tomorrow?

America will never get its fiscal house in order until we change our foreign policy and stop wasting trillions on unnecessary and unconstitutional wars.

Jul 15 13:01

New Immigration Wave Coming: Census Bureau Predicts 1.24 Million More Immigrants To Enter USA in 2015

The Census Bureau published the new data in its International Data Base, which contains population estimates and projections up to the year 2050. The figure from the Census Bureau is a calculation of net migration—meaning the total number of immigrants who will arrive in the United States in 2015 would actually be larger than 1.24 million, but this net figure accounts for and subtracts the number of immigrants who leave the country.

Jul 15 12:57

Chris Christie Administration To Give $180M Tax Break To JPMorgan Chase As He Sells Himself To Voters As Job Creator

As New Jersey Gov. Chris Christie tours New Hampshire, hoping to convince voters there to choose him as their preferred Republican, the New Jersey Economic Development Authority (NJEDA) is getting ready to offer a massive tax break to JPMorgan Chase to get the company to locate in Jersey City. The tax incentive is estimated to run at nearly $19 million per year for 10 years.

Jul 15 12:52

Athens ablaze: Angry Greeks throw petrol bombs at riot police as MPs debate new EU bailout

Hooded protestors threw petrol bombs at helmet-clad riot police as the Greek people's seething anger against the European Union (EU) reached boiling point.

Police responded by hurling tear gas canisters at the huge mob, who have gathered outside the country's parliament in an enormous protest against its international creditors.

Inside, MPs have been locked in the commons chamber since midday, debating the punitive conditions of an EU bailout deal.

Webmaster's Commentary: 

ελευθερία

Jul 15 12:51

Inflation On The Rise: Your Move Ms. Yellen

Jul 15 12:41

US ‘Shot Itself in the Foot’ by Pushing Russia Toward China

Jim Rogers said that China, Korea, Japan, Taiwan, Hong Kong and Singapore are where all the money is, while the US and Europe have become the largest debtors.

Jul 15 12:39

U.S. Fed Chief to Puerto Rico: When It Comes to $72 Billion in Debt, You’re on Your Own

If Puerto Rican officials were hoping the U.S. Federal Reserve would help alleviate its debt crisis, they’re now sorely disappointed.

Speaking in front of a House committee Wednesday morning, Federal Reserve chief Janet Yellen said the central bank had no clear path for helping the American commonwealth, whose governor, Alejandro García Padilla, admitted two weeks ago that he is unable to pay the $72 billion the government owes its creditors. For years, Puerto Rico used this money to prop up its failing economy, pay government bills, and fund social service programs.

Jul 15 12:33

Unsound Banking: Why Most of the World’s Banks Are Headed for Collapse

This brief article will explain why the world’s banking system is unsound, and what differentiates a sound from an unsound bank. I suspect not one person in 1,000 actually understands the difference. As a result, the world’s economy is now based upon unsound banks dealing in unsound currencies. Both have degenerated considerably from their origins.

Jul 15 12:17

Major Chain Stores Shutting Down As America Faces “Birth Pangs Of Retail Apocalypse”

Reduced consumer spending is heralding a looming economic downturn, if not collapse, with an unprecedented shutdown of major box stores, restaurants and grocers underway. It doesn’t bode well for the millions of Americans who are already seriously struggling, and will only accelerate the death of the middle class.

Jul 15 12:03

Rep. Sean Duffy Crushes Yellen: "If Anyone Is Trying To Sweep This Leak Under The Rug - It's The Fed"

We said previously that today's "Humphrey-Hawkins" testimony Q&A would be punchy and sure enough while Chairman Hensarling took an early swing, Wisconsin Rep. Sean Duffy was the man to go toe-to-toe with Janet "I am the law" Yellen over the Fed's stunning ignorance of Congressional legal proceedings. "You did nothing," he begins, "you're so concerned about bringing the leaker to the forefront that what will you do? Nothing!" Yellen replies, reading from a seemingly prepared statement, The Fed has "clear rules" for leak investigations and Duffy cuts her off with a sharp upper cut, "That's true, you did not follow those rules.. if anyone is trying to sweep this under the rug, it is The Fed!"

Jul 15 11:54

Pope Francis Calls for Global Bankruptcy Process

Pope Francis called for an international bankruptcy process in a news conference as he left Latin America on Monday. According to the Associated Press, when asked about the Greek debt crisis, Francis stated, "if a company can declare bankruptcy, why can't a country do so and we go to the aid of others?" Francis offered further comments noting that too many countries are struggling with high debts and he suggested a United Nations bankruptcy proposal could be the solution.?

Jul 15 11:44

Greek leader: 'A captain does not abandon ship'

Greek Prime Minister Alexis Tsipras scrambled to keep his party in line Tuesday ahead of a fateful parliamentary vote that will determine whether his country is able to apply for a massive international bailout or goes bankrupt.

Tsipras sought to contain a revolt by rank-and-file members of his left-wing Syriza party who vow to reject a deal he cut with European leaders to save Athens from a chaotic default and certain banishment from the group of 19 nations that use the euro currency.

Jul 15 11:36

Pepper spray, teargas employed as Greek protest against bailout deal marred by scuffles

An anti-austerity rally attended by thousands of protesters gathering outside of the Parliament in the Greek capital has spiraled into clashes with police, who are deploying pepper spray and tear gas against Molotov cocktails and rocks.

Jul 15 11:23

Greek deal poisons Europe as backlash mounts against 'neo-colonial servitude'

'It is now perfectly clear to a lot of people that the only way out of neo-colonial servitude is to break free of monetary union,' said one Syriza rebel

Webmaster's Commentary: 

Note how anyone who refuses the "blessing" of Private Central Banks is deemed a "rebel" by the presstitutes and whorespondents of the corporate media!

Jul 15 11:09

IMF: Greece May Need 30 Years To Recover

Jul 15 10:40

Are Big Banks Using Derivatives To Suppress Bullion Prices? — Paul Craig Roberts and Dave Kranzler

We have explained on a number of occasions how the Federal Reserve’s agents, the bullion banks (principally JPMorganChase, HSBC, and Scotia) sell uncovered shorts (“naked shorts”) on the Comex (gold futures market) in order to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts into the futures market, an artificial increase in “paper gold” is created, and this increase in supply drives down the price.

Jul 15 10:28

Hillary Clinton's Refusal to Reinstate Glass-Stegall

Hillary Clinton won’t propose reinstating a bank break-up law known as the Glass-Steagall Act – at least according to Alan Blinder, an economist who has been advising Clinton’s campaign. “You’re not going to see Glass-Steagall,” Blinder said after her economic speech Monday in which she failed to mention it. Blinder said he had spoken to Clinton directly about Glass-Steagall.

This is a big mistake.

It’s a mistake politically because people who believe Hillary Clinton is still too close to Wall Street will not be reassured by her position on Glass-Steagall. Many will recall that her husband led the way to repealing Glass Steagall in 1999 at the request of the big Wall Street banks.

It’s a big mistake economically because the repeal of Glass-Steagall led directly to the 2008 Wall Street crash, and without it we’re in danger of another one.

Jul 15 10:22

Texas Launches Gold-backed Bank, Challenging Federal Reserve

The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law. Under the measure, passed overwhelmingly by lawmakers and signed in mid-June by Republican Governor Greg Abbott, Lone Star State officials will establish and operate the Texas Bullion Depository for anyone who would like to deposit and trade in precious metals. The implications are as big as Texas.

Jul 15 10:18

Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made – by sleight of hand. But saving the Greek people and their economy is evidently not in the game plan of the Eurocrats.

Webmaster's Commentary: 

Because then every other member of the EU (and the US) would demand the same thing. The debt is imaginary in the first place. It is money that does not exist and never did. It is all make-believe and we refuse to believe the fairy tale any longer! That is why the money-junkies are so afraid right now.

Jul 15 09:16

You Don't Represent Me Any More

Webmaster's Commentary: 

I thought it was time for a report.

Jul 15 08:52

Merkel Dealt Deadly Blow at Home as IMF Rebuffs Greek Bailout Deal

German Chancellor Angela Merkel has been dealt a heavy blow after the publication by the International Monetary Fund (IMF) of a damning report highly critical of the Greek bailout, which is likely to spell danger for her at home.

Jul 15 08:28

Truth Is An Existential Threat To The US Government

As George Orwell noted: “In a time of universal deceit – telling the truth is a revolutionary act.”

That is why the political establishment and the media find Donald Trump so frightening: the danger that the truth might be spoken.

There is, however, a greater peril – when blatant and outrageous lies are no longer sufficient to soothe the electorate into complacency, such a government must begin to curtail liberty and oppress the people in order to sustain itself, an approach with which both Democrats and Republicans find agreement.

Jul 15 08:27

Lack of Trust – Caused by Institutional Corruption – Is Killing the Economy

The signs are everywhere: Americans have lost trust in our institutions.

The Chicago Booth/Kellogg School Financial Trust Index published yesterday shows that only 22% of Americans trust the nation’s financial system.

Jul 15 08:10

New IMF Report on Greece Says Projections Are Unrealistically Optimistic

A new IMF report on Greece, issued on Tuesday, July 14th, is titled “AN UPDATE OF IMF STAFF’S PRELIMINARY PUBLIC DEBT SUSTAINABILITY ANALYSIS,” and it says — these are quotations, not paraphrases — in summary:

Greece’s public debt has become highly unsustainable. … The financing need through end-2018 is now estimated at Euro 85 billion. … Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far. … Public debt cannot be assumed to migrate back onto the balance sheet of the private sector at interest rates consistent with debt sustainability until debt is much lower. Greece cannot return to markets anytime soon at interest rates that it can afford. … Medium-term primary surplus target: Greece is expected to maintain primary surpluses for the next several decades of 3.5 percent of GDP. Few countries have managed to do so. …

Jul 15 07:38

Households must fork out an extra £36million to keep the lights on this winter as the risk of blackouts increases after power stations are closed

Households face higher energy bills this winter as power chiefs have been forced to spend £36million protecting against the risk of winter blackouts.

So many power plants have closed recently that the grid will be dangerously close to full capacity during periods of peak demand in the winter months.

National Grid has announced that it is spending millions putting mothballed plants on standby, and will pay companies to shut down their factories when the grid is overloaded.

Without the new emergency measures, the grid would have had just 1.2 per cent of spare capacity during the coldest, darkest evenings in the coming winter.

The company said that if the country were hit with unusually cold weather, the network would risk becoming overloaded, leading to widespread blackouts.

Jul 15 07:32

Exclusive: Curtis Ellis Says Trans-Pacific Partnership Is “Not Over!”

Cook said, “I just did an interview couple of days ago with economist and historian, Dr. Tom DiLorenzo, and he talked about the reason we fought the British was because of this type of system of crony capitalism (mercantilism). This is not free market enterprise, this is just giving favors to the politically connected at the expense of tax payers and the middle class, the working people, the American people. This Trans-Pacific Partnership (TTP), how dangerous is this to our Republic?”

“It’s extremely dangerous to our Republic in many ways,” answered Ellis. “Number one, the TPP sets up a separate court system for foreign corporations that can challenge our laws, and the very power of our government.”

Webmaster's Commentary: 

Protectionism is the last refuge of bad business.

Jul 15 07:27

CHINESE RICH FLEEING

Jul 15 06:51

LIST: Bank closings since 2001

Jul 14 21:58

Greece: Follow the Logic of Your Argument and Dump the Euro

The misery of austerity suffered by the people will be prolonged, and will cascade onto future generations. Greece’s sovereignty and independence are being sacrificed for what? To remain in a system that puts its economy in a straightjacket with no escape route? It is now abundantly clear that Germany is demanding the total capitulation of Greece to act as a warning to the rest of the eurozone to toe the German line.

Jul 14 21:51

Under Pressure from Europe, Tsipras Tries to Sell 'Unviable' Austerity Deal to Syriza

As a Wednesday deadline loomed for Greece to pass a package of harsh austerity measures in exchange for a fresh €86 billion bailout, Prime Minister Alexis Tsipras met with furious members of his left-wing Syriza party behind closed doors on Tuesday, attempting to sell them on a deal that will undoubtedly cause further economic hardship in the debt-stricken nation

Jul 14 21:44

The Poverty of Economics

Economics is often referred to as the ‘dismal science’, and it’s certainly a name that’s well earned. To understand why, we could look to its relative failure to foresee the global financial crisis, but to go with a more contemporary example just look at the recent events in Greece. Time and time again we have been subjected to the same tired and fallacious arguments of the Troika, who tell us that the answer to Greece’s problems – massive debt and recession – is more debt and more austerity, which culminates in….? Yes, you guessed it, more debt and even deeper recession.

Jul 14 16:33

Neighborhood inequality particularly profound in Columbus OH area

it’s a different kind of economy,” Reece said. “There are very high-paying jobs and very low-paying jobs. We’re losing that middle.”

Jul 14 15:50

The Last Days Of ‘Normal Life’ In America

Sadly, most people don’t understand how the world works because they are so consumed with other things. We live in a society that is absolutely addicted to entertainment. Just recently, I wrote about how the average American spends more than 10 hours a day plugged in to some form of media. If we are not watching television, we are listening to the radio, going to movies, playing video games, messing with our smartphones or spending endless hours on the Internet. And more than 90 percent of the “programming” that we are fed through these devices is produced by just 6 absolutely gigantic media corporations.

Jul 14 15:25

Small Business Optimism Crashes To 15 Month Lows

Jul 14 15:24

Greek Debt/GDP: 336% By 2025

Greek debt/GDP will keep rising indefinitely and will likely hit 336% in about one decade, at which point Greece will, for all intents and purposes, cease to exist.

Jul 14 15:21

Ron Paul Warns "Greece Today, America Tomorrow?"

The Greek crisis provides a look into what awaits us unless we stop overspending on warfare and welfare and restore a sound monetary system. While most commentators have focused on Greece’s welfare state, much of Greece’s deficit was caused by excessive military spending. Even as its economy collapses and the government makes (minor) cuts in welfare spending, Greece’s military budget remains among the largest in the European Union. Congress will only reverse course when a critical mass of people reject the entitlement mentality and understand that the government is incapable of running the world, running our lives, and running the economy.

Jul 14 14:32

FLASHBACK - Soaring cost of military drugs could hurt budget

Last year, the Pentagon spent more on pills, injections and vaccines than it did on Black Hawk helicopters, Abrams tanks, Hercules C-130 cargo planes and Patriot missiles — combined.

Some of the prescription drugs that have fueled the military’s skyrocketing pharmaceutical budget are the same ones that have medicated the civilian world over the past decade. Since 2002, the Department of Defense has spent more than $5 billion on Lipitor, Plavix, Advair, Nexium and Singulair.

Rather than a reflection of the drugs needed to treat wounded troops, the top-selling prescriptions signal an increase in aging military retirees covered by the military’s health program, Tricare, with drugs for arthritis, osteoporosis and diabetes costing billions. The Department of Defense also spent more than $380 million on erectile dysfunction drugs and $238 million on testosterone therapy drugs over the decade.

Jul 14 14:29

INFOGRAPHIC: The Dollar is Slowly Losing its Status

The dollar has been a stalwart of international trade over the majority of the last century. Around the time of the formation of the Eurozone, it reached its recent peak at 71.0% of official foreign exchange reserves. Since then, its composition of global reserves has more recently dropped to a more modest 62.9% in 2014.

Jul 14 14:26

Slackers : Many Millennials Would Quit If Not Allowed To Do Personal Tasks At Work

Many millennials have never known a world without mobile devices. Now employers are forced to deal with younger workers who want to be able to text and use social media on the job.

Jul 14 13:57

Cashtration

For many years, governments have been attempting to expand the economy by encouraging debt. Governments (most notably the EU and US) have borrowed far more than they ever have in history, to the point that they’re now facing insolvency.

Jul 14 13:49

Putin Leads BRICS Uprising

Jul 14 13:46

Tsipras Stunner: Creditors Said "There Is No Point In Holding Elections" In Bailed Out Countries

While Germany's finmin Schauble is about to burst at few capillaries after reading the latest provocation from Tsipras in which he said, according to Reuters, that:

GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT I'M WILLING TO IMPLEMENT AND WILL ASSUME RESPONSIBILITIES

It should be the Greek people that are reeling by another, even greater stunner, just spoken by the Greek PM during his TV interview: an admission from the chosen Greek "leader" that Greece, as a
sovereign nation, no longer exists:

GREEK PM TSIPRAS SAYS LENDERS GIVE A MESSAGE THAT IN COUNTRIES UNDER A BAILOUT THERE IS NO POINT IN HOLDING ELECTIONS

Webmaster's Commentary: 

Jul 14 13:39

Food Stamp Beneficiaries Have Exceeded 45 Million For 48 Straight Month

The number of beneficiaries of the Supplemental Nutrition Assistance Program (SNAP), otherwise known as food stamps, has exceeded 45 million for 48 straight months, according to data released by the Department of Agriculture (USDA).

Jul 14 12:56

Draining the U.S. Treasury: Cost of War in Afghanistan Hits $4 MILLION PER HOUR

The US-led campaign in Afghanistan is estimated to cost the American taxpayers about four million dollars an hour, with the total price tag since 2001, now more than seven-hundred billion.

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