ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 18 03:38

GLOBAL FINANCE GRINDS TO A HALT

Global finance grinds to a halt as Bloomberg terminals black out
The outage that struck Bloomberg’s popular trading portals was apparently not the result of a cyber attack.

Though Business Insider has reported a rumor (* http://www.businessinsider.com/reason-for-the-global-bloomberg-outage-... ) that someone spilled a can of coke on a server somewhere , Fortune remains skeptical. (Revenge, perhaps, for former three-term New York City mayor Michael Bloomberg’s failed bid to outlaw big soda drinks? The former mayor recently returned to lead the company he founded in 1981.)

Apr 18 02:03

IMF Medicine for Latin American Debt Killed the Patient

The history of IMF involvement in Latin America can be traced back the 1980s, known as the lost decade, during which Latin America experienced its worst economic crisis since the Great Depression; the common link among nations was their external indebtedness to the international private banking system.

Apr 17 18:22

New Study: Millennials Don’t Like Credit Cards

It seems that more millennials have gotten the message that credit cards are not the best financial tool to rely on.

Apr 17 18:12

Most Americans Have No Stocks

Less than half of American adults have money invested in stocks

Apr 17 18:03

Getting an “F” in Financial Literacy

With student loans growing at an alarming rate, it may not surprise you that many college freshman have little knowledge when it comes to financial literacy.

Apr 17 16:53

Get Ready For Another Major Worldwide Credit Crunch, The Global Liquidity Squeeze Has Begun

Today, the entire global financial system resembles a colossal spiral of debt. Just about all economic activity involves the flow of credit in some way, and so the only way to have “economic growth” is to introduce even more debt into the system. When the system started to fail back in 2008, global authorities responded by pumping this debt spiral back up and getting it to spin even faster than ever.

Apr 17 16:23

Greece starts assets sales with horse racing gambling license

Greece's privatization agency (HRADF) has invited OPAP to sign a deal next week to acquire the country's sole license for horse racing betting, the first state asset sale to be completed by the new leftist-led coalition government.

The agency announced in March it would proceed with the sale of the exclusive betting rights to OPAP, the country's dominant gambling firm, which won the license last year after offering 40 million euros ($43.26 million).

Apr 17 15:43

THE U.S. GOLD MARKET: Complete Insanity

Apr 17 15:31

Wal-Mart suddenly closed 5 stores and laid off thousands of workers and no one knows why

Some employees believe that the stores were closed because of worker protests for higher pay.

Employees of the Pico Rivera store were among the first to hold Black Friday protests in 2012.

"This is the first store that went on strike," an employee told CBS Los Angeles. "This is the first store in demanding changes for Walmart."

Apr 17 15:12

S&P 500 vulnerable to a decline

Apr 17 15:12

US Rig Count Drops For Record 19th Week In A Row

Rig counts fell for a record 19th week in a row. Total rigs dropped 34 to 954 and oil rigs dropped 26 to 374. This means the total rig count drop is now greater than 50% - the fastest drop since 1986. Crude prices had slid into the rig count announcement and popped afterwards.

Apr 17 15:11

The ECB Is Considering A Parallel Greek Currency

Today, to our dismay, we find that the ECB has not only considered a "parallel currency" alterantive but for Greece this may be a reality before long. According to Reuters, the ECB "has analyzed a scenario in which Greece runs out of money and starts paying civil servants with IOUs, creating a virtual second currency within the euro bloc, people with knowledge of the exercise told Reuters." "The fact is we are not seeing any progress... So we have to look at these scenarios."

Apr 17 15:09

BAKKEN COLLAPSE HAS BEGUN

Apr 17 14:59

MGM Bans Cash At Poker Tables

Apr 17 14:32

Expert Says “Banning Cash” The Only Solution to Negative Interest Market Problems

Mac Slavo
SHTFplan.com

The Federal Reserve’s main tool in economic warfare has become hyper low interest rates and, thus, extremely cheap money for large institutions via quantitative easing.

Now, the how-low-can-you-go climate has created negative interest rates, meaning not only that many investments carry no return but that many deposits cost money.

Well-known Citigroup economist William Buiter says the solution to this backwards market is to reign in the appeal of normal currencies like cash – because it is “causing problems” for central bank manipulation:

Apr 17 14:31

GE posts first quarter loss of $13.6 billion

Apr 17 14:15

US Taxes Returning to Economy-Killing Level

Apr 17 14:08

Greece May Pay Wages And Pensions In IOUs

Apr 17 14:06

Obama Likely to Veto Republicans’ Estate Tax Repeal Bill

The White House on Tuesday said Democratic President Barack Obama’s advisers would recommend that he veto a pending Republican-authored bill to repeal the estate tax.

Apr 17 12:26

Hillary Clinton Is Grooming A Former Goldman Banker To Become America's Next Treasury Secretary

For years on end, many wondered how it is possible that Gary Gensler allowed Wall Street firms to manipulate, rig, and otherwise abuse the US commodity market which he, as head of the Commodity Futures Trading Commission from 2009 until 2014, was supposed to regulate.

Some, such as this website, suggested that what Gensler was doing was simply protecting his former colleagues from civil or criminal investigation and prosecution. After all Gensler is far better known for not only having worked at Goldman Sachs for 18 years most recently as co-head of finance, prior to joining the CFTC, but for becoming the youngest ever Goldman partner, at the tender age of 30.

Apr 17 12:17

PRISON LABOR COMPANY FEATURES PROMO VIDEO TOUTING “BEST-KEPT SECRET IN OUTSOURCING”

Searching for the “best kept secret in outsourcing,” one that can “provide you with all the advantages” of domestic workers, but with “offshore prices”? Try prison labor! That’s the message of Unicor, also known as Federal Prison Industries, a government-owned corporation that employs federal workers for as little as 23 cents an hour to manufacture military uniforms, furniture, electronics and other products.

Apr 17 11:34

Tower of Greed

As citizens we simply expect to be treated with dignity and a certain amount of respect. Speaking for myself, is it too much to ask that when I go to a place of business for that business to operate in a manner that is comfortable and that I don’t feel like I am being lied to and my money stolen? Well, if you do business with a bank that is all you can expect to receive; dishonor and theft. If you read the article in full, as I requested, you now know exactly what I am talking about. The ECC (Economic Consultative Committee), fewer than 50, (yes FEWER than 50 people) meet twelve times a year to determine how we, the citizens of the world, are going to be sheered like sheep by the ruling and banking class. Can you imagine if we met, in secret, to plot against the government, the banks and the corporations? Wouldn’t we have a missile or rifle shoved up our back side? Wouldn’t we be thrown in prison, if we were lucky, as an enemy of the state?

Apr 17 10:48

Countries Around The World Are Now Dumping The Petrodollar

Apr 17 10:12

It’s Official: The Worldwide Bail-ins Are Coming

In case you missed the announcement, Cyprus-style bail-ins are coming to a bank near you.

On November 16, leaders of the G20 Group of Nations – the 20 largest economies – made an important decision. The world’s megabanks now have official permission to pledge depositor accounts as collateral to make leveraged derivative bets. And if they lose a bet, the counterparty to the contract has first dibs on your money.

The governments of these 20 countries are now supposed to put these arrangements into law. Most, including the US, have already done so.

Apr 17 10:10

Bell faces $750M lawsuit over allegedly selling customer data

A $750-million national class-action lawsuit has been filed against Bell Canada over alleged breaches of privacy arising from its recently discontinued target ads program.

The suit against subsidiaries of Bell alleges that the defendants used the program to track, collect and sell the sensitive account and internet browsing information of their customers to advertisers.

It seeks $750 million in damages for breach of privacy, breach of contract and breach of the Telecommunications Act.

Apr 17 09:46

1.4 million U.S. TV homes Cut the Cord in 2014

Apr 17 09:03

Greece: See anarchists fling FIREWORKS at police as Athens erupts

Clashes erupted between anarchists and riot police in the district of Exarcheia in Athens, Thursday. The clashes follow a demonstration by around 4,000 workers from a Canadian-run gold mine in northern Greece over fears of job losses, after the Greek government revoked the company's license to develop the mine.

Apr 17 08:59

IN PHOTOS ~~ NEW YORKERS DEMAND MINIMUM WAGE INCREASE

Apr 17 08:58

Billionaire Tells Americans to Prepare For 'Financial Ruin'

The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable.

Webmaster's Commentary: 

Magnificent grasp of the obvious, Don!

Apr 17 08:54

People REALLY Don't Get It!

Apr 17 08:15

Court will not reconsider key ruling on insider trading

The decision not to rehear the case leaves intact strict requirements for what the government must prove in order to win an insider trading conviction and could help defendants who are appealing their insider trading convictions, including former SAC Capital portfolio manager Michael Steinberg.

The Justice Department has already dropped charges against multiple defendants it previously accused of trading on inside information, including several who had already pleaded guilty. Earlier this year prosecutors said they couldn’t prove their case five men accused of trading on tips about International Business Machine Corp.’s 2009 $1.2 billion acquisition of software company SPSS Inc.

Webmaster's Commentary: 

Money junkies are now above the law, it seems!

Apr 17 08:11

Millennial Women Still Earn Less Than Men

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

Apr 17 08:09

Oil Bust Empties Out Private-Jet Parking Lot in Texas

The oil boom last year was easy to see at the airport in Midland, Texas, the gateway to the biggest crude-producing region in the U.S. The 30 or so spaces for private planes were often filled.

On one day in early February, a lone corporate jet sat on the tarmac, the empty spots a harbinger of the slowdown looming in a city that is 85 percent dependent on the oil and gas industry.

Webmaster's Commentary: 

This slump would explain why Walmart closed their stores in Midland and Tulsa for "plumbing problems."

Apr 17 08:05

Slowest Growth in China Since 2009

Apr 17 07:54

There is nothing quite like the smell of stock correction in the morning

Is that the acrid smell of correction in the air?

It certainly seemed that way as U.S. stocks swiftly fell out of bed Friday on the heels of what appears to be a pair of odd events in the global markets.

Apr 17 07:46

The Japanese Took Over The US Debt

China No Longer Top Foreign Owner of U.S. Debt
Japan now holds more U.S. debt than China, China is selling, Japan buying, both lag behind the Fed

Before the end of February, as per information discharged yesterday by the U.S. Treasury, elements in Mainland China had surrendered their position as the top proprietors of U.S. government obligation.

http://whatisusa.info/the-japanese-took-over-the-us-debt/

Apr 17 07:45

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

You’re likely thinking that a discussion of “sound banking” will be a bit boring. Well, banking should be boring. And we’re sure officials at central banks all over the world today—many of whom have trouble sleeping—wish it were.

Apr 17 07:35

Little Football, A Lot Of Money The History Of US-Mexico Match

United States and Mexico with little football became a millionaire business.

History repeated itself, the football teams of US and Mexico played the match 64, and again the economics of the benefits that left the organizers was the big winner.

http://whatisusa.info/little-football-a-lot-of-money-the-history-of-us...

Apr 17 07:34

U.S. stocks stage selloff as global jitters take hold

U.S. stocks tanked on Friday as news of stock market regulation from China triggered a selloff in global equity markets, where investors were already on the edge due to fears that Greece may default on its international debt.

Apr 17 06:44

DOW JONES FALLS OFF A CLIFF

Webmaster's Commentary: 

-213 just a half hour into the trading day. No Friday happy ending!

Apr 17 06:37

Thousands of students boycott state-mandated exams

Jessie Rothenberg, age 8, holds a sign while sitting on her father’s shoulders while protesting Gov. Cuomo’s education policies in Park Slope, Brooklyn, in March. Stephanie Keith/for New York Daily News It’s an anti-testing tsunami.

Apr 17 04:54

Is Mario Draghi Stupid, Crooked Or What?

Apr 17 00:10

The Japanese Took Over The US Debt

China No Longer Top Foreign Owner of U.S. Debt.

Japan now holds more U.S. debt than China, China is selling, Japan buying, both lag behind the Fed

Before the end of February, as per information discharged yesterday by the U.S. Treasury, elements in Mainland China had surrendered their position as the top proprietors of U.S. government obligation.

http://whatisusa.info/the-japanese-took-over-the-us-debt/

Apr 16 23:30

Little Football, A Lot Of Money The History Of US-Mexico Match

United States and Mexico with little football became a millionaire business.

History repeated itself, the football teams of US and Mexico played the match 64, and again the economics of the benefits that left the organizers was the big winner.

http://whatisusa.info/little-football-a-lot-of-money-the-history-of-us...

Apr 16 19:03

Flat Broke, Living In A Moldy Basement And Relying On Food Stamps And Medicaid

Could you imagine being a single parent and trying to survive in America today on $10.50 an hour?  For a moment, I want you to imagine that you are living in a moldy apartment that is so badly maintained that rain seeps in whenever it rains.  You are employed, but you are completely dependent on government programs such as food stamps and Medicaid in order to make ends meet.

Apr 16 18:37

Why has petrol risen despite oil price fall? Anger as drivers count the cost on the forecourt

Motorists’ groups reacted with anger last night as it emerged that the cost of petrol was rising again – soon after a fall in world oil prices.

Campaigners said drivers were being ‘fleeced’ by oil firms and high fuel duty.

For months, the cost of fuel fell to just 113.42p for diesel and 106.39p per litre of unleaded. But the cost of filling a tank with petrol has risen by almost £4 and £3 for diesel.

The rise comes despite a dip in world oil prices in March, from a high of $60 a barrel to $54, triggered by competition between the US and other nations.

Apr 16 17:57

Greece May Pay Wages And Pensions In IOUs

Apr 16 15:42

Feds Push For Total Control of Water Rights

Apr 16 15:25

IRS Targets Farmer For Making Cash Deposits

Apr 16 15:09

What Is Really Driving Gold?

Apr 16 14:48

IMF's Lagarde says Greece should not delay payments

The head of the International Monetary Fund on Thursday signalled that the IMF would not agree to let Greece delay a scheduled bailout payment, saying the Fund needed to protect its sterling reputation as a global lender.

Greece is fast running out of cash and its euro zone and IMF lenders have frozen bailout aid until the new leftist-led government in Athens reaches agreement on a package of reforms.

That has raised fears the Greek government will not be able to make its next payments to the IMF, which total some $1 billion (0.67 billion pounds) over the next month.

Apr 16 14:48

$5,000 SILVER?

Apr 16 14:01

Oil Busts Triggering Economic Seizures: “A Stream of Bankruptcy Attorneys Running Around”

Mac Slavo
SHTFplan.com

Bankruptcies are mounting in some of the biggest firms, even as the appearance of normalcy remains. But cash injections will likely keep the largest corporate-corpses going on and on.

How much trouble does this signal for an already troubling economy?

Wolf Street reported on how the oil bust is surfacing in the form of bankruptcies – along with a string of major bankruptcies in other sectors including casinos, securities, electronics (Radio Shack, the once huge chain) and at least one health care provider in the top 15 pending bankruptcies for the year:

[I]t’s not just in Houston or in the oil patch. It’s in retail, healthcare, mining, finance…. Bankruptcies are suddenly booming, after years of drought.

Apr 16 13:30

Why Argentina Is Waging War on Citibank

Apr 16 13:16

Frustration continues with aggressive tax-refund seizures

More than 77 million American have received tax refunds -- but others may not be so lucky.

CBS News has been investigating complaints that refunds are being seized by the government without notice.

Apr 16 12:29

Senators Reach Deal On Massive Free Trade Bill No One Has Seen

Congress’ tax committees announced an agreement Thursday to speed through a bill to give President Barack Obama the fast-track authority that he will need to push mammoth new trade deals through Congress.

While a deal had been believed to be in the works, news that it was actually done came as a surprise to even members of the House Ways and Means Committee and the Senate Finance Committee, which were called to a hearing on the pact less than 12 hours before it was held.

Apr 16 12:29

House Votes To Repeal Tax On Richest 0.2 Percent Of Americans

The House of Representatives voted Thursday to give a tax break worth $269 billion to the richest few thousand estates in the country, and add that cost to the federal debt.

Apr 16 12:19

Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009

“Come down to Houston,” William Snyder, leader of the Deloitte Corporate Restructuring Group, told Reuters. “You’ll see there is just a stream of consultants and bankruptcy attorneys running around this town.”

But it’s not just in Houston or in the oil patch. It’s in retail, healthcare, mining, finance…. Bankruptcies are suddenly booming, after years of drought.

Apr 16 12:16

AGENCY OVERSEEING OBAMA TRADE DEALS FILLED WITH FORMER TRADE LOBBYISTS

The Office of the United States Trade Representative, the agency responsible for negotiating two massive upcoming trade deals, is being led by former lobbyists for corporations that stand to benefit from the deals, according to disclosure forms obtained by The Intercept. The Trans-Pacific Partnership (TPP) is a proposed free trade accord between the U.S. and 11 Pacific Rim countries; the Transatlantic Trade and Investment Partnership (TTIP) is a similar agreement between the U.S. and the E.U.

Apr 16 12:05

World Bank breaks its own rules as 3.4 million people are forced off their land

The World Bank has repeatedly violated its own policies on protecting the rights of indigenous people by funding projects that forced nearly 3.4 million slum-dwellers, farmers and villagers from their homes and jobs over the past decade, according to documents seen by the Guardian.

Apr 16 10:34

Citigroup's Gold "Expert" Demands A Cash Ban

Apr 16 09:54

Tampering with Smart Meters on the Smart Grid

Catherine J. Frompovich
Activist Post

There have been a lot of theories about what could happen when Smart Meters (SMs) are tampered with and customers receive “false-reading, tampered-with” utility bills—water, gas, or electric—when hackers access the porous microwave networks that transmit in-the-house information that electric SMs constantly collect, then radio-transmit via microwaves back to utilities home offices.

That’s not some “pie-in-the-sky” theory; it’s of great concern to security experts...

Apr 16 09:49

‘Bankruptcy closer every day, and you believe statistics?’

An expat Englishman, who runs a farm not far from Moscow, has grilled the Russian president and asked where Putin gets his statistics.

Apr 16 09:39

Texas Woman Invokes 'Religious Freedom' Argument to Fight $2000 Fine for Feeding the Homeless

“One of the police officers said, ‘Ma’am, if you want to pray, go to church.’”

Apr 16 09:33

Demonstrators rally at USC to raise minimum wage

Hundreds of Los Angeles workers and community members gathered Wednesday in the neighborhood surrounding the University Park campus to rally for an increase in the minimum wage from $9 to $15.25 with enforcement provisions and paid sick leave.

Part of a national effort, the demonstration, organized by the coalition Raise the Wage LA, was called “Fight for $15 on 4/15” and began in downtown Los Angeles early Wednesday morning.

Apr 16 09:11

3 Easy Ways to Avoid Taxes

Apr 16 09:00

Mandatory Vaccines: SB277 CONTROVERSIAL COMMITTEE CHAIR STEALS VICTORY FROM CA PARENTS

Following hours of hearing several hundred parents voice their opposition to the controversial SB277, the bill that would remove the personal and religious exemptions and would require mandatory vaccines for children attending public or private schools, was going to fail the Senate Committee Hearing. The State Capitol was flooded with a line of parents that filled the halls and extended out the building doors and into the grounds surrounding the building. One by one people filed in and gave their name, city of residence, and stated their opposition to the proposed bill. The Senate Education Committee held it’s hearing concerning the portion of the bill that would exclude children whose parents have chosen not to vaccinate them from schooling.

Apr 16 08:46

Ruble passes 50 against USD for 1st time since November

The Russian currency’s upward trend has achieved a psychological victory Wednesday as the ruble traded at 49.90 against the US dollar on the Moscow exchange.

Apr 16 08:34

I-Team: Walmart stores that were suddenly closed for plumbing issues haven't sought permits

Employees of a Walmart in Brandon that abruptly closed Monday were among more than 2,000 employees nationwide who learned almost simultaneously they were being laid off.

In a nearly identical manner at every store, Walmart corporate officials visited the five locations, called an impromptu meeting in the back of the store and told employees that the stores would be closing that evening.

Webmaster's Commentary: 

I think Walmart is trying to save face having to close stores so soon after they made a bid deal about raising the wages of their workers.

Apr 16 08:24

Citigroup Shuffles Management Ranks: Is a Guilty Plea Coming?

Media rumors have been rife since February that the U.S. Justice Department is edging closer to forcing a Citigroup banking unit to plead guilty to criminal charges of rigging foreign currency markets. On Monday, the umpteenth iteration of the infamous Citigroup Shuffle was announced, where the top ranks of management are shuffled about in preparation for charges of major wrongdoing by the bank.

The Citigroup Shuffle has produced four CEOs over the past 12 years (Sanford Weill, Chuck Prince, Vikram Pandit, and the current CEO, Michael Corbat). The Chief Financial Officer (CFO) position changed three times in four months during 2009, moving from Gary Crittenden, to Edward “Ned” Kelly, to John Gerspach, the current CFO. Crittenden was later charged by the SEC with lying about Citigroup’s exposure to subprime debt, stating publicly that it was $13 billion when in fact it was over $50 billion at the time. Crittenden paid a $100,000 fine to the SEC without admitting the findings.

Apr 16 08:22

Oil Layoffs Hit 100,000 and Counting

Apr 16 08:20

Our Nation Depends on Restoring Product Liability

At the height of its power, ancient Rome created many new technologies which allowed it to become the supreme power over their portion of the world. These accomplishments included the invention of concrete, improved metallurgy, medicine, hygiene, plumbing, and sewage. As each of these were developed, Rome came to be dependent on them. As Rome went into decline, their ability to maintain their technologies started to fade. Aqueducts stopped delivering water. Public health failed. Metal rusted. Concrete cracked. Eventually the failure of those systems on which Rome was dependent hastened its eventual fall.

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Apr 16 08:07

One Last Look At The Real Economy Before It Implodes - Part 5

Brandon Smith
Activist Post

Since I began writing analysis for the liberty movement more than eight years ago, I have always said that we will know when the endgame of the globalists is upon us when the criminals come out into the light of day and admit to their crimes. At that moment, it will be because they no longer fear either the repercussions or their plans being obstructed.

As I plan to show in this installment of my series on the hidden fiscal collapse of America, the endgame has indeed arrived. At the very least, the international elites seem to think success is within their grasp, for they now openly expose their own criminality. But they do so in a way that attempts to divert blame or to rationalize their actions as being for the “greater good.”...

Apr 16 08:06

Washington's Mistral fiat flattens French arms industry; Sukhoi flies high

Another coup for Putin. Everything DC touches turns to crap!

India has essentially annulled it gigantic arms contract with France for the purchase and combined construction of 126 Rafale fighter planes; the Indian Prime Minister agreed to buy only
36 of them during his visit to Paris last week, a responsible government source stated. Instead, India will buy 127 fifth generation Russian fighter jets.

It is part of the direct fall-out from the socialist French governments anti-Russian policy, aligned with Washington. Obedient to the US, the Le Drian/Hollande tandem chose not to turn over the Mistral ships to Russia.

Apr 16 07:52

Store Closings Index 2015 of Largest US Brick-and-Mortar Retail Chains

Gap, Coach, JCPenney, Kmart, All 2015 Store Closings Sorted by Company

Apr 16 07:40

Obama calls for end to anti-Semitism

Obama calls for end to anti-Semitism in Holocaust Remembrance Day statement

(*Talk about your complete political 'Flip-Flop' !
I should have Bet Money that he wouldn't stand by The Iran Nuclear Deal)

Apr 16 07:00

‘End ECB dick-tatorship!’ Protester attacks Draghi during keynote speech

A protester, associated with the FEMEN movement, interrupted a televised speech by European Central Bank president Mario Draghi, when she jumped onto the table and showered him with confetti, while shouting “End ECB dictatorship!”

21-year-old Josephine Witt, who was also wearing a t-shirt with the punning slogan "End ECB dick-tatorship" also left several fliers with a oblique small-print rant against the financial body which regulates the Eurozone monetary policy.

Apr 16 06:57

German Yields Tumble Toward Zero Amid ECB Stimulus, Greece Jitters

“Draghi pledged to continue to metaphorically stand on the roof of the ECB building and shower euro bank notes down upon passersby.”

(*Oh Christ!)

Apr 16 06:44

Justice Prevails in New Mexico! Gov. Signs Bill Abolishing the Ability of Cops to Steal From Citizens

Finally, a victory!

On Friday, New Mexico Governor Susana Martinez signed the unanimous bipartisan legislation, H.B. 560, which effectively ends the practice of civil asset forfeiture in the state...

Apr 16 06:37

Ron Paul: Watch out. Dollar's in a 'huge bubble'

"There's a huge bubble with the dollar," Paul said on Tuesday's "Futures Now." The Dollar index, which measures the dollar against a basket of other major currencies, is near 12-year highs as the Fed has retreated from its stimulative programs at just the same time that other central banks have introduced their easing measures. But rather than take the rally as a sign that investors see strength in the U.S. economy, the outspoken former congressman sees the dollar's massive move higher as simply a byproduct of a world awash in easy money.

"It's not so much that the dollar is a great currency. It's the fact that nothing else is any better, said Paul. "The fundamentals are a disaster. The economy is in bad shape when you have more than half the people hardly making ends meet."

Apr 16 03:50

Former IMF Chief 'Under Investigation For Money Laundering'

Former chief of the International Monetary Fund, Rodrigo Rato, is under investigation for money laundering, government sources have told Spanish daily El Pais.
***
A judge is also holding him accountable for credit card abuse that took place at Caja Madrid and Bankia banks, where he was chairman.

In addition, he is under investigation for the way Bankia was floated on the Spanish stock market. Investigators believe this may have involved fraud and document forgery.

(*Quite the impressive resume . No wonder he made it all the way UP to IMF Chief ! )

Apr 16 03:21

Putin sees sanctions as stimulus for Russian economy

Russian President Vladimir Putin says his country can use Western sanctions to boost economic development by becoming more self-reliant.

Mr Putin said he had told business leaders that he did not expect EU-US sanctions - imposed over Russia's actions in Ukraine - to be lifted soon.

"We need to use the situation to reach a new level of development," he said.

(*"no,no, no, No, No, No, NO!"
whitehorse souce)

Apr 16 03:04

Stocks: 5 things to know before the open

Earnings season is in full swing and so far markets are taking it in their stride.

CNN: U.S. stock futures were flat in early trading while international markets were mixed.

Here are five things you need to know before the opening bell rings in New York:

1. Earnings and market movers: It's a big day for the financial sector, with Citigroup (C) and Goldman Sachs (GS) reporting ahead of the open. American Express (AXP) will report after the close.
***
2. Economic updates: The U.S. government will post weekly jobless claims at 8:30 a.m. ET. The Census Bureau will report monthly housing starts and building permits, also at 8:30 a.m. ET.

3. Oil moves: Crude is slipping back in electronic trading to just below $56 a barrel after hitting a 2015 high on Wednesday.
***
4. Leaders gather: The G20 finance ministers and central bank governors gather in Washington ahead of meetings of the World Bank and the IMF.
***
5. International markets overview: European markets were mainly weaker in early trading. But Unilever (UL) shares got a 4.4% boost in London after first quarter sales beat expectations.

Apr 16 00:55

Study: Over 27% of Student Loans Are in Default

Apr 15 17:55

Huge Trouble Is Percolating Just Under The Surface Of The Global Economy

Did you know that the number of publicly traded companies declaring bankruptcy has reached a five year high? And did you know that Chinese exports are absolutely collapsing and that Chinese economic growth in 2014 was the weakest in over 20 years?

Apr 15 17:39

Soros Declares Global Government “FAILING”

Apr 15 17:05

Mandarin for the Warlords: The Harvard School of Empire Building

What matters is that the US, while it is a declining world power, is still militarily powerful, dangerous and destructive, even as its empire building is weakening and its forces are in retreat. As Mahatma Gandhi once stated about the declining British Empire, ‘It’s the aging tiger that becomes the man eater’.

Apr 15 15:18

Why Is WalMart Mysteriously Shuttering Stores Nationwide For "Plumbing Issues"?

If that doesn’t turn out to be enough in the face of an economy which isn’t really recovering and in which low-income shoppers are constrained by lackluster (and by that we mean nonexistent) wage growth, some sacrifices may have to be made. The problem is that laying people off and shuttering stores two months after a celebrated wage hike initiative doesn’t inspire much confidence and could turn into a PR issue, but one thing you could do is get creative, and while we’re not plumbers, we do find it curious that five geographically distinct WalMart stores have been closed in the past week for “ongoing plumbing issues that will require extensive repairs.”

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