ECONOMY

Mar 18 08:07

28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides

Not a week seems to pass without some banker or trader committing suicide. Today we get news of the latest such tragic event with news that 28-year old Kenneth Bellando, a former JPMorgan banker, current employee of Levy Capital, and brother of a top chief investment officer of JPM, jumped to his death from his 6th floor East Side apartment on March 12.

Webmaster's Commentary: 

... or was pushed.

Mar 18 07:41

The Five-Year Fantasy Is Ending

For five long years, we have pursued the fantasy that we could return to “growth” without having to fix or change anything. The core policy of the fantasy is the consensus of “serious economists,” i.e. those accepted into the priesthood of PhD economists protected by academic tenure or state positions: what we suffered in 2009 was not the collapse of leveraged crony-state financialization but a temporary decline of “aggregate demand” and productive capacity.

The solution, the economic witch doctors asserted, was simple: replace temporarily slack private demand with government-funded demand (deficit spending) and flood the impaired financial system with liquidity (i.e. free money) and increase the incentives to borrow money.

In other words, the “serious economists” solution was to transfer all the interest earned by savers to the banks and push households to buy more low-quality junk from Asia on credit.

Mar 18 06:57

Putin Has Nuclear Economic Bomb-Jim Sinclair

On possible U.S. sanctions on Russia, such as excluding them out of the international payment system called the SWIFT system, Sinclair says, “The use of the SWIFT system (Society for Worldwide Interbank Financial Telecommunication) to create a difficulty, almost a prohibitive difficulty in doing business by preventing bank wires, that would be one of the possibilities. Already, the BRICS nations are developing their own SWIFT system. So, the mistake of using the SWIFT system, short of absolute war, is that it has created a competitor that all the BRICS will be using.” Sinclair also thinks, “To sanction Russia is to forget that Russia supplies Europe with its gas supplies. To sanction Russia is to forget there are many U.S. and European corporations operating within Russia right now. I honestly believe sanctioning Russia is the same as shooting yourself in the foot.”

Mar 18 06:56

Brave New Deviant World

Consider our economic world from two perspectives:

The Deviant View – as represented by those who visit deviantinvestor.com, read alternate media, are skeptical of the “official” news, and who critically examine the financial world.

or
The others – call it the mainstream media view.

Mar 18 06:43

Bond Insurer Files Suit Against Detroit in Setback for Bankruptcy Plan

A bond insurer on Monday struck a blow against Detroit’s proposal to exit bankruptcy, arguing in a new lawsuit that Detroit’s approach would illegally discriminate against the city’s third-biggest group of creditors — the investors who provided $1.4 billion for its workers’ pensions nearly a decade ago.

Those investors bought “certificates of participation,” which were the first securities Detroit defaulted on as it prepared to file for bankruptcy last summer. The city now contends that the 2005 borrowing was a “sham transaction” and is proposing to give the investors who bought into it one of the lowest recovery rates in its bankruptcy.

Mar 18 06:42

Coalition Wages Legal Challenge to Idaho's 'Ag-Gag' Law

'The Idaho law is deeply distressing because it is aimed entirely at protecting an industry, especially in its worst practices that endanger people, at the expense of freedom of speech.'

Mar 17 16:35

Russia vows to switch to other currencies over US sanctions threat - Glazyev

Russia can dodge any proposed US sanctions by switching to other currencies and creating its own payment system, Putin’s economic advisor Sergei Glazyev said Tuesday.

Mar 17 12:59

UBS Investigated For Gold Manipulation Suggesting Gold Inquiry Goes Beyond London Fix

The last time the FT penned an article on the topic of gold manipulation, titled "Gold price rigging fears put investors on alert" it was promptly taken down without much (any) of an explanation. Luckily, we recorded the article for posterity here. Earlier today, another article on the topic appears to have slipped through the cracks of the distinguished editors of the financial journal that enjoys the ad spend of the status quo, when it reported that "Gold pricing scrutiny widens", hardly an update that will take the world by storm, however it is notable that "even" the FT, where for years goldbugs claiming gold manipulation had been ridiculed, is finally start to admit the glaringly obvious.

Mar 17 12:03

Fed Nominee Stanley Fischer’s Cayman Islands Problem

Stanley Fischer did not get a proper vetting at his Senate Banking confirmation hearing last Thursday to serve as Vice Chairman of the Federal Reserve Board of Governors. Of the 22-member Senate Banking Committee, only five Senators, outside of the Chair and Ranking Member, showed up to question Fischer. Questions should have focused on Fischer’s ties to Citigroup, the serially corrupt mega bank which collapsed into the arms of taxpayers in 2008, requiring a bailout of $45 billion in equity infusions, $300 billion in asset guarantees to stop a run on the bank, and over $2 trillion in below market rate loans from the Federal Reserve to prop it up.

Mar 17 08:35

Wells Fargo made up on-demand foreclosure papers plan: court filing charges

Wells Fargo, the nation’s biggest mortgage servicer, appears to have set up detailed internal procedures to fabricate foreclosure papers on demand, according to allegations in papers filed Tuesday in a New York federal court.

In a filing in New York’s Southern District in White Plains for a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details “a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.”

Those are the technical terms for the paperwork proving that the company that’s foreclosing owns the loan, and therefore has the right to kick a family out of its home. Wells Fargo services roughly 9 million home loans, according to Inside Mortgage Finance.

Mar 17 08:27

Time for world to sanction US government: Analyst

A political analyst has called on the global community to bring US rulers to justice and impose sanctions against the Machiavellian regime in Washington over its hegemonic policies.

Webmaster's Commentary: 

Time to dump those stocks and empty those savings accounts!

Mar 17 08:24

Swiss Bank Refuses To Give Client His Physical Gold

Today Egon von Greyerz surprised King World News when he said that a client of a Swiss bank was unable to get their gold, even though they had deposited the gold in physical form, out of a Swiss bank. Below is what Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in his interview.

Mar 17 08:21

Right Sector leader: Kiev should be ready to sabotage Russian pipelines in Ukraine

The leader of ultranationalist group Right Sector, Dmitry Yarosh, has threatened to destroy Russian pipelines on Ukrainian territory if a diplomatic solution is not reached with Moscow.

In a fiery address loaded warmongering rhetoric, Yarosh told his followers they should be ready to resist the Russian “occupiers.” The leader of the Right Sector made his address to the coup-appointed government in Kiev, as Crimeans made their way to ballots Sunday to vote to join with Russia or to remain within Ukraine.

“We cannot allow the enemy to carry out a blitzkrieg attack on Ukrainian territory. We mustn’t forget that Russia makes money sending its oil through our pipelines to the West. We will destroy these pipelines and deprive our enemy of its source of income,” Yarosh said.

Webmaster's Commentary: 

... which will harm Europe and Kiev a lot more than it harms Russia.

Mar 17 08:11

25 Fast Facts About The Federal Reserve – Please Share With Everyone You Know

#1 The greatest period of economic growth in U.S. history was when there was no central bank.

#2 The United States never had a persistent, ongoing problem with inflation until the Federal Reserve was created. In the century before the Federal Reserve was created, the average annual rate of inflation was about half a percent. In the century since the Federal Reserve was created, the average annual rate of inflation has been about 3.5 percent, and it would be even higher than that if the inflation numbers were not being so grossly manipulated.

#3 Even using the official numbers, the value of the U.S. dollar has declined by more than 95 percent since the Federal Reserve was created nearly 100 years ago.

Mar 17 08:02

TIGTA: The IRS Does Not Follow the Law in 48% of Taxpayer Bankruptcy Cases

Impact on Taxpayers
The bankruptcy automatic stay provision prohibits the IRS from taking certain collection actions against a debtor (taxpayer) as soon as it learns, or is notified by a U.S. bankruptcy court, that a bankruptcy petition has been filed. Similarly, the debtor may be granted a discharge, which remains after the case is closed and is a permanent injunction order prohibiting the IRS from taking any form of collection action against the debtor personally with respect to discharged debts. If the IRS does not observe the automatic stay or the discharge injunction, taxpayers’ rights could potentially be violated and the IRS could be sued for damages.

Why TIGTA Did the Audit

Mar 17 08:01

EU foreign ministers levy sanctions after Crimean referendum

The EU and US have announced sanctions against individuals involved in the current crisis engulfing Ukraine and Russia. EU foreign ministers meeting in Brussels said they wanted to send a strong signal to Moscow.

Webmaster's Commentary: 

The signal they sent is that they know that in the event of wide-ranging sanctions such as those applied to Iran, Russia's retaliation would cripple both the US and EU economies. So the EU, like Obama, has to look like they are doing something and wrist-slap a few individuals, who in all probability delinked their wealth from the west last week.

Mar 17 07:43

Is Russia Cashing In On Its US Treasury Holdings?

Could Russia be cashing out on its U.S. Treasury holdings? Concerns over rising political tensions between the Russia and the West over the Ukrainian crisis have helped boost gold prices to their highest level in six months, as investors rush for cover into the traditional safe-haven asset.

U.S. Treasury securities held in for foreign official and international accounts slid $105 billion in the week ending March 12, according to a Wall Street Journal report. The decline was the largest retreat on record. As of December 31, both official and private Russian holdings totaled $138.6 billion of Treasury debt, the report said.

Mar 16 09:51

New doomsday poll: 99.9% risk of 2014 crash

Global risks are accelerating. This is our fourth major poll update of industry leaders: A critical review of their warnings from early last year when we first predicted a 87% risk of a crash: Bernanke’s Fed saw an “unsustainable bubble” ... Gross: “credit supernova” ... Gundlach: “kaboom ahead” ... Ellis: “Don’t own bonds” ... Shilling: “shocker” ... Roubini: “Prepare for perfect storm” ... Shiller: “Irrational exuberance is back” ... Schiff: “Doubling down” on “doomsday” prediction ... InvestmentNews’ warning 90,000 advisers: “tick, tick ... boom!”

Mar 16 09:22

UPS to raise some shipping rates 4.4%

United Parcel Services Inc. plans to increase general rates by 4.4% at the end of March, a move that comes after rival FedEx Corp. also said it would raise its shipping rates.

Mar 16 09:06

Kremlin: If The US Tries To Hurt Russia's Economy, Russia Will Target The Dollar

Another warning shot was fired before an all-out assault on the dollar system begins. This time, an official shot: Alexey Ulyukaev, Russia’s Minister of Economic Development and former Deputy Chairman of the Central Bank, fired it. It was a major escalation, Valentin Mândr??escu, editor of The Voice of Russia’s Reality Check, told me from Moscow.

Mar 16 09:06

Russian companies withdraw billions from west, say Moscow bankers

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Russian companies are pulling billions out of western banks, fearful that any US sanctions over the Crimean crisis could lead to an asset freeze, according to bankers in Moscow.

Sberbank and VTB, Russia’s giant partly state-owned banks, as well as industrial companies, such as energy group Lukoil, are among those repatriating cash from western lenders with operations in the US. VTB has also cancelled a planned US investor summit next month, according to bankers.

Mar 16 08:02

Andy Hoffman on the Golden Bull, Failing Fiat and the Foundering of the Central Bank Economy

"Whirlybird Janet," as she is already being referred to, will ultimately put "Helicopter Ben" to shame, by the time she's through. Frankly, who knows if the Fed will even survive the inflationary carnage of her four-year term? In 2013, TPTB used an unprecedented level of money printing, market manipulation and propaganda to attack precious metals, support financial markets and promote a false perception of "recovery." Unfortunately, five years after the financial crisis, the global economy is worse off than ever, replete with dramatically higher debt levels, plunging currencies, surging social unrest and rapidly deteriorating capital expenditures and consumer demand. Thus, the whole "tapering" charade is nearing its end. - See more at: http://www.thedailybell.com/exclusive-interviews/35118/Anthony-Wile-An...

Mar 15 09:00

Kremlin: If The US Tries To Hurt Russia's Economy, Russia Will Target The Dollar

Another warning shot was fired before an all-out assault on the dollar system begins. This time, an official shot: Alexey Ulyukaev, Russia’s Minister of Economic Development and former Deputy Chairman of the Central Bank, fired it. It was a major escalation, Valentin Mândr??escu, editor of The Voice of Russia’s Reality Check, told me from Moscow.

Last time, it was Sergei Glazyev, an advisor to Vladimir Putin who’d fired the shot. But he wasn’t a government official. “Anonymous sources” at the Kremlin claimed he wasn’t speaking for the government. As Mândr??escu reported in his excellent article, From Now On, No Compromises Are Possible For Russia:

Mar 14 13:04

California Governor Sued Over Foreclosure Fund Diversion

California Governor Jerry Brown was sued by nonprofit groups claiming he raided most of a $369 million special fund for distressed homeowners to pay the state’s general expenses.

Mar 14 10:53

Inspector General Slams the FBI and Department of Justice for Lying About Its Prosecution of Mortgage Fraud

DOJ and its components have repeatedly stated publicly that mortgage fraud is a high priority and during this audit we found some examples of DOJ-led efforts that supported those claims. Two such examples are the Criminal Division’s leadership of its mortgage fraud working group and the FBI and USAOs’ participation on more than 90 local task forces and working groups. However, we also determined during this audit that DOJ did not uniformly ensure that mortgage fraud was prioritized at a level commensurate with its public statements. For example, the Federal Bureau of Investigation (FBI) Criminal Investigative Division ranked mortgage fraud as the lowest ranked criminal threat in its lowest crime category. Additionally, we found mortgage fraud to be a low priority, or not listed as a priority, for the FBI Field Offices we visited, including Baltimore, Los Angeles, Miami, and New York.

Mar 14 10:26

Wells Fargo made up on-demand foreclosure papers plan: court filing charges

Wells Fargo, the nation’s biggest mortgage servicer, appears to have set up detailed internal procedures to fabricate foreclosure papers on demand, according to allegations in papers filed Tuesday in a New York federal court.

In a filing in New York’s Southern District in White Plains for a local homeowner in bankruptcy, attorney Linda Tirelli described a 150-page Wells Fargo Foreclosure Attorney Procedures Manual created November 9, 2011 and updated February 24, 2012. According to court papers, the Manual details “a procedure for processing [mortgage] notes without endorsements and obtaining endorsements and allonges.”

Mar 14 09:38

U.S. awards border contract to company that already failed

The United States awarded an Israeli company a $145 million contract to build a surveillance system along Arizona's border with Mexico. But federal records show that the same company had a hand in much the same border security project eight years ago.

That project, called the Strategic Border Initiative, failed and some wonder whether this project won't also fail.

Mar 14 09:36

Bank of England: Bankers may have to return bonuses

Bankers may have to return their bonuses up to six years after receiving them, the Bank of England has said.

Repayment could be ordered in the event of bankers' "misbehaviour", big losses at their bank or bad risk management, said the Bank.

The banking system came under scrutiny after many banks were bailed out by billions of pounds of taxpayers' money following the credit crunch.

Mar 14 07:47

China warns of dangerous Russia sanctions 'spiral'

China's top envoy to Germany has warned the West against punishing Russia with sanctions for its intervention in Ukraine, saying such measures could lead to a dangerous chain reaction that would be difficult to control.

Mar 14 07:42

Foreigners Sell A Record Amount, Over $100 Billion, Of Treasurys Held By The Fed In Past Week

A month ago we reported that according to much delayed TIC data, China had just dumped the second-largest amount of US Treasurys in history. The problem, of course, with this data is that it is stale and very backward looking. For a much better, and up to date, indicator of what foreigners are doing with US Treasurys in near real time, the bond watchers keep track of a less known data series, called "Treasury Securities Held in Custody for Foreign Official and International Accounts" which as the name implies shows what foreigners are doing with their Treasury securities held in custody by the Fed on a weekly basis. So here it goes: in the just reported latest data, for the week ended March 12, Treasurys held in custody by the Fed dropped to $2.855 trillion: a drop of $104.5 billion. This was the biggest drop of Treasurys held by the Fed on record, i.e., foreigners were really busy selling.

Mar 13 18:56

Debt collectors go after service members despite protections

Debt collectors are targeting members of the Armed Services by calling their superior officers, threatening reduction in rank and even courts-martial, despite stepped-up efforts to protect them from abuse, according to a government report issued last week.

Mar 13 13:18

Derivatives: How the Tiny Silver Market Could Take Down the System

Precious metals naked shorting is just another streamlined way to pick up nickels in front of a steamroller. Do it on a large enough scale and with some form of subsidy, margin, or grantee, and it can be a massive business unto itself. That is, until it explodes and spills over into the densely connected network of other paper derivative structures.
This is part of why it is never absurd to consider that the tiny silver market can be the Achilles heel that might take down the system.
Everything is tied and the trigger could come from any place along the tangled web.

Mar 13 13:03

Ted Butler: Why Not Just Close the COMEX

"Not to be delusional, I have little expectation that the COMEX will be closed; but I think the idea has merit and should be considered. In fact, the vast majority of market participants and society as a whole would benefit from a closing of the COMEX for the simple reason that all the commodities traded there have been manipulated in price. The simplest way of ending these manipulations is to shut down the mechanism of manipulation...

Since it can be demonstrated and proven thru CFTC data that prices are set on the COMEX with no input from the real world producers or consumers, society as a whole would benefit if the COMEX didn’t exist. This is a private club that has no legitimacy in dictating to the world what prices should be.

Mar 13 11:33

Where's Kenny Boy

On July 5th, 2006, Ken Lay died of a massive heart attack. Or so they claim.

Mar 13 10:56

The Assault on Gold

For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices.

Mar 13 10:14

Insurers: At least 20% of new ObamaCare sign-ups failed to pay their first premium on time

Fully one-fifth of the new enrollment numbers that HHS has been waving around are bogus. Their target for the end of January was 4.4 million sign-ups; a few days ago, they told the country they’d made it three-quarters of the way there with 3.3 million. In reality, once the deadbeats are bounced from the rolls by their new insurers, they’ll be in the ballpark of 2.6 million, or 60 percent of their target. And that’s after HHS pressured insurers to extend the payment deadline from December 31 into January, hoping that a little more time for slackers would pad the enrollment figures even more.

Webmaster's Commentary: 

Normally, when you fail to pay a premium, the policy is canceled. This means that the White House's claim of 4.2 million people signed up for Obamacare is deceptive. They may have signed up (and the White House kept using the word "selected" to evade the issue of whether they actually had policies or not) but that does not mean a successful completion for a new insurance policy.

Mar 13 09:28

Avro arrow cheaper and better than F-35

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Webmaster's Commentary: 

Canada is able to produce a better and cheaper fighter than the F-35, but Harper chooses to buy the more costly and less effective F-35.

Mar 13 09:11

Senate bill to give more [of your] money to the IMF

n a speech given today, by Senator Menendez, The Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 bill is supposed to help fund future help for other countries, though it will cost $314 million, taken from underperforming government programs. Here is how his press release worded it, without mention of cost.

Mar 13 07:52

Russia Threatens Symmetrical Sanctions Against West

Russia does not rule out reciprocal action if sanctions are imposed by the US and European countries, a senior Russian economic official said Thursday.

“We hope that there will only be targeted political sanctions, and not a broad package affecting economic trade,” Deputy Economic Development Minister Alexei Likhachev said.

“Our sanctions will be, of course, symmetrical,” he added.

Mar 13 07:17

Pres Obama: Cut Household Spending to Afford Health Care Law

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Webmaster's Commentary: 

Obama seems callously oblivious to the fact that most American households are already just barely making ends meet and cannot cut any more to pay for his Obamacare plan. More than that, any cutting of household spending means less money for other businesses, such as the supermarket and the utilities, which means that overall, the economy is being harmed by Obama's latest suggestion.

Mar 12 10:40

HAGUE OUT OF HIS DEPTH: RUSSIA’S ENERGY GRIP ON EUROPE IS REAL

In Spanish bull-fighting, the man with the red cape is known as El Matador. He pretends he can stop the bull, but in the end is only attempting to fool the beast. When the Matador gets too fancy with his moves however, he sometimes ends up getting trampled by the beast. Either way, the crowd gets their money’s worth.

William Hague’s verbal show of force towards Russia is about as convincing to the crowd as that dusty old red cape.

Mar 12 09:57

Obama Team: We Can Badly Damage Russian Economy

The Obama Administration has assembled a team that is working full time on preparing anti-Russia measures, and the team is said to be convinced the US is capable of “badly damaging the Russian economy.”

Webmaster's Commentary: 

"... at the cost of potentially crashing our own! but no price is too great to pay to get them gosh-darned Russians!" -- Official White Horse Souse

Mar 12 09:36

Paul Ryan cites ‘white nationalist’ to blame poverty on lazy men in ‘inner cities’

Rep. Paul Ryan (R-WI) on Wednesday suggested that men in “inner cities” who refused to work were one of the main causes of poverty in the United States.

Webmaster's Commentary: 

More "blame the victim" crap. The cause of poverty is being forced to conduct all commerce using bank notes borrowed at interest from a privately-owned central bank, which is the exact same predatory banking system this nation fought a revolution to be free of!

Mar 12 09:06

Obama to order expansion of overtime pay for millions of workers

President Obama, flexing his executive authority once again, plans to order the Labor Department to expand overtime pay requirements to include millions more workers -- in a move likely to rankle the business community.

Webmaster's Commentary: 

But win votes for Democrats this primary season!

Mar 12 07:54

Gold Surges To 6-Month Highs

Angst in Asia overnight sparked another round of demand for the precious metal pushing gold up over $10 as copper crumbles and Chinese corporate bond markets drop. At $1,363.97, gold is at its highest since September and breaking above its 1-year moving-average.

Mar 12 06:26

Obamacare 3 million shy of target — with 19 days left to sign up

More than 4.2 million Americans had selected private health care plans from the Obamacare marketplace through the end of February, though the rate of sign-ups dropped last month and young people still aren’t enrolling quickly enough, according to numbers the administration released Tuesday.

The Health and Human Services Department said one in four of the enrollees from Oct. 1 to March 1 were ages 18 to 34, which is short of the 40 percent that analysts say health insurers will need to offset higher costs of sick and elderly patients who cannot be denied coverage.

Mar 12 06:21

Nervenkrieg um den Goldschatz

Of the 1500 tons in Manhattan belonging to Germany, only 5 tons were sent there last year. At that rate it would take 300 years.

By contrast, Ukraine's gold reserves were said to be 40 tons, all of which were transferred to the US last week (that didn't take long):

Mar 11 10:02

We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis

None of the problems that caused the last financial crisis have been fixed. In fact, they have all gotten worse. The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming. Unfortunately, most people do not know the information that I am about to share with you in this article. Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis. But the truth is that we are in far worse shape than we were back then. When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic.

Webmaster's Commentary: 

Please, as I have said so many times before, don't panic: plan.

Have absolutely no more money in the bank than is needed to pay your bills: keep the rest under your own control. The currency controls which hit Cypress last year are coming to the US: it is only a matter of time.

This horrific debt is why the US government is pushing for more and more wars, and more and more dictatorship here at home. People in government understand that the US government got out of its financial messes through World War I and World War II.

OF course, this was before there was a nuclear-armed Russia or China.

Mar 11 09:48

Swiss Insurers and JPMorgan Have More than ‘Suicides’ in Common

Questions continue to mount over why a rash of suspicious deaths among executives in the financial services industry are occurring now when the worst of the crisis, layoffs, bankruptcies and bailouts occurred over five years ago – or at least Federal officials keep assuring us that the worst is over.

The underlying concern is that we still cannot get a clear assessment of global financial risks because of what we can’t see: the interconnectedness of global banking; offshore banking; off balance sheet vehicles; and regulatory arbitrage where U.S. financial institutions move high risk operations to foreign locales with light-touch regulators.

Webmaster's Commentary: 

In the financial industry, knowing too much, and perhaps threatening to go public, makes one a "live liability", to be dealt with much the same as a mafia don "neutralizes" a nuisance.

Don't think for a moment that those captains of financial industry, or political figures, don't know "friends of friends" who can "get the job done": just as Hillary Clinton about Vince Foster!!

Mar 11 09:42

Labor Force Participation Hits Record Low for Americans in Their 20s

The labor force participation rate in 2013 for Americans in their twenties hit the lowest level recorded since 1981, when the Bureau of Labor Statistics started releasing employment data on people in the full age bracket of 20 through 29.

The labor force participation rate for people ages 20 through 24—which BLS has been tracking since 1948—hit a 42-year low in 2013.

Webmaster's Commentary: 

There are no jobs to be had for non-skilled labor, other than some government work, and both state and federal government tend to hire people with the lousiest skill-sets whatsoever.

Mar 11 09:37

Markets hold breath as China's shadow banking grinds to a halt

A slew of shockingly weak data from China and Japan has led to a sharp sell-off in Asian stock markets and the biggest one-day crash in iron ore prices since the Lehman crisis, calling into question the strength of the global recovery.

The Shanghai Composite index of stocks fell below the key level of 2,000 after investors reacted with shock to an 18pc slump in Chinese exports in February and to signs that credit is wilting again. Iron ore fell 8.3pc.

Fresh loans in China’s shadow banking system evaporated to almost nothing from $160bn in January, suggesting the clampdown on the $8 trillion sector is biting hard.

Mar 11 09:12

The CA bubble that isn’t from California: Canadians come face to face with the paradox of golden real estate handcuffs and a younger less affluent generation.

Canada home values have increased by close to 80 percent in the last decade. For the U.S. over this same period of 1994 to 2004 home prices are up (adjusting for inflation) by a modest 10 percent even after the 2013 mania:

Mar 11 08:40

McCrory: 'Keep politics out' of coal ash decision

Gov. Pat McCrory said Monday that he wants to "keep the politics out" of the decision of who pays for cleaning up coal ash sites across North Carolina.

Attorney General Roy Cooper, who is expected to challenge McCrory for governor in 2016, said earlier in the day that he's opposed to allowing Duke Energy to charge utility customers for the removal of its coal ash ponds.

On Friday, Duke Chief Executive Lynn Good said the utility will foot the cleanup bill for last month's ash spill in the Dan River, but the company will seek to "recover" costs from consumers if it's required to remove or relocate coal ash from 14 sites around the state.

Webmaster's Commentary: 

Profits to the corporations, the costs to the people. THAT is fascism!

Mar 11 08:10

The Devil Lurking In The Retail Store Closure Details

"US retail as we have known it for hundreds of years is in sharp decline," warns Bloomberg Brief's Rich Yamarone, adding that "market participants should take note of the fallout in a sputtering US economy." The retail apocalypse, as we discussed here, is dominated by mass layoffs, weak traffic, and poor wage growth and, as Yamarone highlights, it's not hard to see why...

Mar 11 07:40

America’s Advancing Empire: Putsch, Pillage and Duplicity

The Obama regime, in coordination with its allies and proxies, has re-launched a virulent world-wide campaign to destroy independent governments, encircle and ultimately, undermine global competitors, and establish a new US – EU centered world order.

We will proceed by identifying the recent ‘cycles’ of US empire-building; the advances and retreats; the methods and strategies; the results and perspectives. Our main focus is on the imperial dynamics driving the US toward greater military confrontations, up to and including conditions which can lead to a world war.

Mar 11 07:39

Dead budget walking: Obama abandons hope, gives up on change

After some bruising budget disputes, President Obama has abandoned any pretense to run the country’s economy.

His latest budget is a political manifesto instead of the economic reform the US desperately needs. Or as US pundit Stan Collender put it, this budget is “more dead on arrival than most…”

On the current trajectory, by 2020 US taxpayers will be paying more on government debt interest than on the military (and the US armed forces don’t exactly come cheap). President Obama murmurs a mantra about tackling the roaring US budget deficit but then again he also promised “hope” and “change” when first elected… His promises remain empty while overseeing a government whose signature policy has been shambolic health “reform” demonstrating government at its most incompetent.

Mar 11 07:33

EU prepares Russia sanctions, NATO sends planes to monitor Ukraine

The European Union is preparing fresh sanctions against Russia in response to the ongoing crisis in Crimea. This comes as NATO announced it was to deploy reconnaissance aircraft in Poland to monitor events in Ukraine.

Mar 11 07:21

Why higher taxes are inevitable in Chicago

Anybody who thinks Chicago can escape its pension funding crisis without significant tax increases should read the report Moody's Investors Service released last week when it cut city bond ratings.

Mar 10 09:53

THE ELEVENTH MARBLE

Any five-year old child knows that if you put ten marbles into a tin can, you can only take ten marbles back out. No amount of wishful thinking, dreaming, or praying, will yield that eleventh marble from inside that can. That eleventh marble does not exist. It never did, and it never will. All discussions about the eleventh marble are the product of imagination. The eleventh marble is a fantasy.

Private central bankers issuing the public currency as interest-bearing loans operate on the belief that they can put ten marbles (dollars) into a tin can (the world) and magically get 11 marbles back out. Thus, we may conclude that the bankers are dumber than five-year old children!

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Mar 10 09:52

HOW YOU BECAME A SLAVE TO THE BANKERS!

Then, in 1913, a corrupt Congress and a corrupt President changed the structure of the nation's economy and stole your freedom to say "no"! The economic system was reverted to a mirror of that same system the nation fought a revolution to be free of. The power to issue money was taken away from the government and given to the bankers and from that day onward, ALL money in circulation was created as the result of a loan at interest from the bankers to the government, to business, and to the people. There is no exception. Every dollar paid in salary, spent to purchase food or gas, or paid in taxes, began as an interest bearing loan. There is no money in circulation in the United States that did not start out as a loan at interest from the bankers at the privately-owned Federal Reserve system.

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Mar 10 09:50

THE FATAL FLAWS IN WALL STREET'S ECONOMIC THEORY

Greenspan and the members of Congress relied heavily on euphemisms like "ideology" and spoke in vague terms to obfuscate from the American people that there are fundamental flaws in the way the US Financial system works.

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Mar 10 09:43

Global Debt Exceeds $100 Trillion

Bloomberg reports:

The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

Has all that money gone to stimulate the economy?

Nope …

Virtually none of it has. Instead, governments chose big banks over their own people. The huge amount of debt was racked up to bail out the big banks.

Central banks have been engaged in the the “greatest backdoor bailout of all time.”

And yet – as Bloomberg notes – everyone else gets austerity:

Mar 10 06:54

On The Manner In Which Jewish intelligentsia destroyed the Working Class (by mistake)

The new Left, The Frankfurt School, ID politics, the collapse of Working Class politics, the end of production and the meltdown of dissent. An expose of the manner in which Jewish intelligentsia destroyed the Working Class (by mistake)...

Mar 10 06:45

Ukraine Crisis: Just Another Globalist-Engineered Powder Keg

With the exception of a few revolutions, most wars are instigated and controlled by financial elites, manipulating governments on both sides of the game to produce a preconceived result. The rise of National Socialism in Germany, for instance, was largely funded by corporate entities based in the U.S., including Rockefeller giant Standard Oil, JPMorgan and even IBM, which built the collating machines specifically used to organize Nazi extermination camps, the same machines IBM representatives serviced on site at places like Auschwitz. As a public figure, Adolf Hitler was considered a joke by most people in German society, until, of course, the Nazi Party received incredible levels of corporate investment. This aid was most evident in what came to be known as the Keppler Fund created through the Keppler Circle, a group of interests with contacts largely based in the U.S.

Mar 10 06:43

Greece fails to secure next bailout tranche in talks with intl creditors

The Greek government and the international creditors – the European Commission, the European Central Bank and the International Monetary Fund – have failed to agree on a bailout loan tranche ahead of the Eurogroup meeting on Monday, local media say.

Mar 10 06:40

The US, NATO and the West use economics to enslave countries – FM Živadin Jovanovi?

Like Afghanistan, Iraq, Libya, Syria and before it the former Federal Republic of Yugoslavia, Serbia is another country that was also invaded and destroyed by US/NATO. Serbia today is overburdened by foreign debt and through the IMF and other “loans”, like other countries, faces being enslaved by the West. Serbia is proof that when the West gives 1 Euro, it takes 100 Euros. You mentioned the damage of NATO to Yugoslavia $120 billion. But even what was not destroyed, that was privatized by criminal privatization. These issues and more were touched upon by Živadin Jovanovi?, the former Foreign Minister of Yugoslavia in an interview with the Voice of Russia.

Mar 09 15:01

Bitcoin exchanges suspend conversions as hacker attack intensifies

Three online exchanges for the bitcoin virtual currency have suspended conversions into state-backed currencies, saying they are under attack from hackers suspected of trying to create fraudulent transactions.

Webmaster's Commentary: 

Who benefits if Bitcoin is shut down? The private central bankers, of course!

Mar 09 10:03

O-Bombshell: War Secretly Declared On China By Executive Order

Despite criticism about Obama going on vacation in the midst of the Ukraine crisis, the American people should know that Barack Obama signed a bombshell Executive Order and then ran for the hills. The below executive order is highlighted with the most important information we “meat & potatoes”, uneducated folks should pay attention to.

It’s pretty easy to decipher if one has a basic understanding of the law & legalese — or shall we call it; speaking out of 5 sides of your mouth to slam your opponent. Essentially, the attorneys who wrote this did so for the people who said to themselves,

“……How can we totally screw China for getting behind the Russians in the Ukraine crisis? I KNOW! Let’s screw them on the 100?s of billions in mortgage-backed securities!….”

Mar 09 08:07

America Has Entered The Silly Season. Destruction To Follow?

In the first few phases of Wall Street’s exploitation of the American people and of the world, terrible things were done to common folk like you and me. The Federal Reserve gave banks the right to charge us interest on money they created out of nothing. The Internal Revenue Service was needed to make us pay taxes for the interest on the money the bankers created out of nothing.

In the old days they ran the stock market way up and then let it drop like a rock. That 3 million Americans starved to death in the Great Depression was of no interest to them. That 58 million people were killed in WW II after the German military and the Japanese Emperor tried to surrender cannot be mentioned in the Corporate media. The deaths of more than 60 million under the Jewish controlled Soviet Regime is a forbidden topic. After WW II North Korea was given to Joe Stalin so we could have a profit making war and kill the anti-Communists who wanted to defend us.

Mar 09 07:58

Malaysian official discounts terrorism in case of missing airliner; 5 nations searching for wreckage

Vietnam, Malaysia, Singapore and other nations resumed the search for a missing passenger jet at daybreak Sunday, amid mounting concerns over the possible cause of the plane’s disappearance.

As the search entered its second day, questions about possible terrorism arose after it was discovered that two passengers listed as having been aboard the aircraft were both found to be safe, but had had their passports stolen -- one, two years ago.

Hishammuddin Hussein, Malaysia’s transport minister, issued a statement saying that terrorism was not suspected, but that all possibilities were being investigated.

Webmaster's Commentary: 

I'll bet Boeing wishes it was terrorism. Airlines are already canceling orders for the 787, and now the flying public will start wondering about the 777 as well. Remember the DC-10? Actually a good aircraft, but a maintenance error resulted in the loss of an engine at take-off from Chicago O'Hare, and worse, there were photos and videos of it. Passengers started avoiding the DC-10 and sales of the aircraft plunged. Same with the L-1011. In this case, there was a small and easily correctable design flaw in that the auto pilot did not sound any alert when disconnected. A pilot accidentally brushed the control column, did not realize the auto-pilot disengaged, and the L-1011 flew int a swamp. Passengers avoid hardware perceived as dangerous, and with the recent revelation of cracks in still under construction 787s, Boeing is in for a hard time regaining its former reputation for quality.

Mar 08 10:55

Boeing 787 Dreamliner planes in production found with 'hairline cracks' on wings says US firm

Plane manufacturers Boeing said on Friday that “hairline cracks” had been discovered in the wings of about 40 787 Dreamliners that are currently in production.

Mar 08 07:46

Ukraine: “The war will be nuclear”, by Paul Craig Roberts

According to a report in Kommersant-Ukraine, the finance ministry of Washington’s stooges in Kiev who are pretending to be a government has prepared an economic austerity plan that will cut Ukrainian pensions from $160 to $80 so that Western bankers who lent money to Ukraine can be repaid at the expense of Ukraine’s poor.

It is Greece all over again.

Mar 08 07:15

Why Billions in Bailout Money for Ukraine Could End Up in Russia

Ukraine is desperate for a financial bailout after its economy had suffered from months of protests and political conflict in the former Soviet state, and the West is eager to hand over the funds. But a lot of that cash could end up going to Ukraine's chief antagonist: Russia.

"That money could very well indirectly make it toward Russia, given the amount of economic and financial transactions between Kiev and Moscow," said Stratfor Eurasia analyst Eugene Chausovsky.

Ukraine has been in a recession since the middle of last year, and its economy has been hit by deflation. The Kiev government said last month that its budget deficit rose 21.2 percent in 2013 over the previous year.

Webmaster's Commentary: 

On this issue alone, Russia has Kiev by a very sensitive part of the human anatomy!!

Mar 08 06:32

China Is Crashing … As Predicted

The head of China’s sovereign wealth fund noted in 2009: “both China and America are addressing bubbles by creating more bubbles”.

He’s right …

Global credit excess is worse than before the 2008 crash.

The U.S. and Japan have been easing like crazy, but – as Zero Hedge notes – China has been much worse:

Webmaster's Commentary: 

You cannot continue to sustain an economy like this, and sooner or later, the bubbles are going to burst, big-time; both in China...and the US.

Mar 07 11:29

Los Angeles tops list of US cities with worst traffic

It may not come as a surprise, but Los Angeles has once again topped a list of major U.S. cities with the worst traffic.

According to INRIX's seventh annual Traffic Scorecard Report, drivers nationwide wasted an average of 47 hours in traffic a year in major cities, and it's only expected to get worse.

Los Angeles was the worst with an average of 64 hours wasted in traffic in 2013 -- that's an 8.5 percent increase compared to 2012.

Honolulu followed close behind with 60 wasted hours, an 18 percent increase. San Francisco came in third with 56 hours, a 13 percent increase.

Webmaster's Commentary: 

That was certainly our experience when I had to fly to Los Angeles last year! But note that Honolulu got the Silver Medal!

Mar 07 10:39

WOW: EU Citizens should storm this chamber & HANG you's and they would be right !! : Godfrey Bloom

Mar 07 10:37

Nigel Farage: I hope taxpayers all over Europe listen to this...

Mar 07 08:51

Russian Dollar Dump Could Crash Financial System-John Williams

Economist John Williams says if Russia sells its U.S. dollar holdings, it could trigger hyperinflation. Could it collapse the financial system? Williams contends, “Yes, it certainly has a potential to do that. Looking outside the United States, there is something over $16 trillion in cash, or near cash. That’s about the same size as our GDP. . . Nobody has wanted to hold the dollar for some time. The dollar, fundamentally, is weak. It couldn’t be weaker. All the major factors are against it. It’s just a matter of what would trigger the massive selling. Nobody wants to hold it. The Russians start selling, and you have China indicating a general alliance here in terms of what’s transpiring. If the rest of the world believes this is what’s going to happen, people who have been wanting to get out of the dollar for some time very easily could front-run the Russians. The scare is on. People will try to get out of it as rapidly as they can.

Mar 07 08:14

A Healthy Economy Requires Fewer People Working on Wall Street, Making Much Less Money

The financial industry is a parasite on our society.

Mar 06 14:45

The Quiet Coup

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

Mar 06 12:47

Ukraine as the USDollar Waterloo

The desperation of the Anglo-American leadership, guided by the steady corrupt banker hands, has never been more acutely high, nor obvious in full view. The entire Ukraine situation is a travesty. It includes Langley agents killing police and street demonstrators from rooftops, the confirmation coming from the Estonian Embassy (translation of scripts). It includes thefts of official Ukrainian Govt funds, again sent to the Swiss hill sanctuary. It includes sanctions delivered by a US Paper Tiger, sure to cause horrific backlash. It involves the last gasp attempt to obstruct the Gazprom energy pipelines, which will inevitably corner the European market in monopoly. It involves subterfuge with the NATO card (aka Narcotics And Treachery Outlaws) with missiles placed on the Russian borders. Look for NATO members to find a back door to exit the spurious treaty. It involves playing with nitro-glycerine in the Petro-Dollar room.

Mar 06 10:12

15 Vermont Towns Vote to Start a Public Bank that Works for Them, Not Wall Street

By a more than three-to-one margin on Tuesday, communities voting on whether to support the creation of a public bank in Vermont approved the idea, calling for the state legislature to establish such a bank and urging passage of legislation designed to begin its implementation.

In a show of direct democracy that also exposed the citizenry's desire for a more localized and responsible banking system, fifteen of nineteen towns passed the resolution during 'Town Meeting Day'— an annual event in which voters choose local officials, approve municipal budgets, and make their voices heard on a number of measures put before local residents for approval.

Mar 06 09:52

Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban

Last month, a senator from West Virginia called on American financial regulators to ban Bitcoin in a seemingly gross misunderstanding of how the cryptocurrency actually works.

On Wednesday, however, a representative from Colorado responded with a tongue-in-cheek letter to those same authorities.

Mar 06 09:50

Staples Celebrates The Recovery With 225 Store Closures, Sales Plunge

Nothing says global 'economic recovery' like a major retailer drastically missing revenue expectations, slashing earnings projections and announcing it will shutter 225 stores nationwide.

Webmaster's Commentary: 

Staples and stores like it targeted small businesses and home-based businesses, both of which have taken the greatest hit form the economic slowdown while major corporations are propped up by the US Government at taxpayer expense. So, common sense has to tell you that as small and home businesses go out of business, the stores selling them office supplies would decline as well.

Mar 06 09:42

House to Vote on Making Fine for Disobeying Obamacare Individual Mandate $0

The House of Representatives is scheduled to vote on Wednesday to reduce the fine/“tax” for violating Obamacare’s individual mandate this year to $0. It will be interesting to see how Democrats in both the House and Senate react.

Mar 06 09:20

Obama Budget Director's Stunning Refusal To Admit President's Plan Hikes Spending

When President Obama submitted his budget yesterday to Congress, the Associated Press observed that it "lays waste to the spending caps that the White House and Congress agreed to late last year..." In the next year alone, the plan would increase spending by $56 billion above the statutory caps, and the total 10-year spending breach would be $791 billion—all funded by a massive proposed tax increase.

Yet when President Obama's budget director testified before the Budget Committee today, she refused to even answer a simple question about whether or not the President wants to spend more than the law allows.

Mar 06 08:56

Who will threatened sanctions hit most? US-EU-Russia trade in numbers

One of Russia’s most valuable exports to Europe is something factories and households run on every day: natural gas. Europe imports one-third of its natural gas from Russia, with Germany being the biggest client importing nearly 30 billion euro annually. In 2012, 75 percent of all European imports from Russia were energy.

Many countries in Europe have strategic partnerships with Russia’s state-owned gas giants, Rosneft and Gazprom.

According to Eurostat data, Russia accounts for 7 percent of total imports and 12 percent of total exports in the 28 European Union bloc, making it the regions third most important trading partner, behind the USA and China.

Mar 06 08:55

Russia prepares bill on foreign asset freeze in reply to sanctions – senator

A top Russian lawmaker has revealed he is working on a bill that would freeze the assets of European and American companies operating in Russia in reply to Western economic sanctions.

The chairman of the upper house committee for constitutional law, Andrey Klishas, is sure that Russia must have an enough leverage to deal with the threat of sanctions coming from foreign countries.A team of lawyers are currently preparing a separate federal bill that would allow the Russian president and government to confiscate foreign owned property in Russia, including assets belonging to private companies, the senator told the RIA Novosti news agency.

The bill is in response to the major political crisis in Ukraine and the threat of sanctions against Russia coming from the USA and other countries.

“All sanctions must be mutual,” Klishas stated.

Webmaster's Commentary: 

This is not an idle threat. US companies have a major presence in Russia, including factories, such as Ford and Boeing.

Mar 06 08:17

Administration Announces Another Obamacare Delay

As expected, the Obama administration announced yet another delay to Obamacare this afternoon. Via Politico:

The Obama administration will allow some health plans that fall short of Obamacare coverage requirements to continue past the November elections and through most of President Barack Obama’s second term.

The decision, announced Wednesday by federal health officials, extends for two years an earlier decision by the White House to let people keep their existing health plans through 2014, even if those plans fell short of the Affordable Care Act requirements.

Without the change, Democrats worried that another wave of canceled health policies would hit in October, stirring up another round of controversy as the midterm elections approached.

Webmaster's Commentary: 

The lesson from Obamacare is that this government will not admit error or back off a policy, no matter the scale of the disaster it may be. That is of concern as the same government is now rushing into a war which will be a disaster for the United States, but a gift to the bankers who profit by loaning money for wars and reconstruction.

Mar 06 07:58

LETTERS: Fixing Social Security; Put me in charge of welfare, Medicare and housing grants

I know how to fix Social Security. It will hurt and people will be mad, but it has to be done:

* All money paid into Social Security stays in Social Security.

* Only U.S. citizens may receive Social Security.

* Recipients must be at least 60 years old.

* All Social Security money that has been given away or spent on other things must be repaid — with interest — now.

Webmaster's Commentary: 

The problem is the US Government CAN'T pay it back! They have robbed the retirement money of every working American.

Mar 06 07:15

Putin Adviser Urges Dumping US Bonds In Reaction to Sanctions

An adviser to Russian President Vladimir Putin said Tuesday that authorities would issue general advice to dump US government bonds in the event of Russian companies and individuals being targeted by sanctions over events in Ukraine.

Sergei Glazyev said the United States would be the first to suffer in the event of any sanctions regime.

Webmaster's Commentary: 

We already know from Obamacare that this government is incapable of recognizing when they are pursuing a failed policy, so it is up to the American people to stop this rush to a war we will in all probability lose. Americans should start dumping their US Bonds, empty their savings accounts, and sell all their stocks.

Mar 05 13:47

Madoff Workers Told ‘Avalanche’ of Lies, Prosecutor Says

Five former members of Bernard L. Madoff’s inner circle told a “staggering” number of lies to prop up their boss’s $17.5 billion Ponzi scheme, a prosecutor said during closing arguments in their criminal trial.

“Day after day, year after year, these defendants told an avalanche of different lies that allowed Madoff to steal billions from investors,” Assistant U.S. Attorney John Zach told jurors in Manhattan federal court yesterday. They each “made the fraud possible in their own way.”

Testimony in the case ended yesterday. The criminal trial, now in its fifth month, is the first stemming from the swindle, which collapsed after Madoff’s arrest in December 2008 revealed his investment advisory unit hoarded customer cash for decades instead of using it to buy securities.

Mar 05 11:51

FLASHBACK - Obama and Pelosi - Obamacare "Find out what's in it"

Mar 05 11:31

How the Rich Became Dependent on Government Welfare

Entitled "Subsidizing the Corporate One Percent," the report from the taxpayer watchdog group Good Jobs First shows that the world's largest companies aren't models of self-sufficiency and unbridled capitalism. To the contrary, they're propped up by billions of dollars in welfare payments from state and local governments.

Such subsidies might be a bit more defensible if they were being doled out in a way that promoted upstart entrepreneurialism. But as the study also shows, a full "three-quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations" — not to the small businesses and startups that politicians so often pretend to care about.

Mar 05 07:55

EU Plans No Sanctions on Russia for Now – Russian Envoy

The European Union has no plans to impose sanctions on Russia over the recent events in Ukraine, Russia’s EU envoy said Tuesday, commenting on a statement a day earlier by European foreign ministers.

Mar 05 07:48

Labor Force Participation in 2013 Lowest in 35 Years

The average annual labor force participation rate hit a 35-year-low of 63.2 percent in the United States in 2013, according to data from the Bureau of Labor Statistics (BLS).

The last time the average annual labor force participation rate was that low was in in 1978, when it was also 63.2 percent. Jimmy Carter was president then.

Mar 05 07:39

HHS: We need $1.8B to run Obamacare portal

President Obama’s top health officials said Tuesday they expect Congress to front the money needed to fund Obamacare’s federal marketplace in fiscal 2015 as they work to make HealthCare.gov operate better this fall.

Mar 05 07:14

Regulator Shuts Down 3 More Banks as Crackdown on Shady Transactions Continues

The Central Bank announced Wednesday that it was stripping three lenders of their licenses amid suspicions they were engaged in enabling money-laundering and financing of terrorism.

The regulator said in a statement that Dagestan Bank, Moscow-based Monolit Bank, and the Bank of Business Development in the Siberian city of Kemerovo would no longer be permitted to operate.

Mar 05 07:13

Boeing looks to sell off 787 ‘terrible teens’

Boeing is struggling to find buyers for 11 of its earliest 787 Dreamliners, collectively valued at $1.1?billion, after two airlines dropped orders for the holdover models from the jet’s troubled birth, people briefed on the plans said.

Mar 04 14:17

New O-Care delay to help midterm Dems

The Obama administration is set to announce another major delay in implementing the Affordable Care Act, easing election pressure on Democrats.

As early as this week, according to two sources, the White House will announce a new directive allowing insurers to continue offering health plans that do not meet ObamaCare’s minimum coverage requirements.

Mar 04 12:07

More IMF Lies?

U.S. ECONOMIC GROWTH IS GATHERING SPEED, IMF'S LIPTON SAYS

Mar 04 12:05

RBS chief - ‘Free UK banking coming to an end’

FREE consumer banking in the UK is coming to an end, Royal Bank of Scotland’s chief executive has warned.

Ross McEwan said that customers need to realise that they will have to pay for accounts, whilst also warning that further job cuts are inevitable at the taxpayer-owned bank.

His comments, which came just days after the bank announced £576 million of bonuses for its executives, prompted an angry response from the Labour Party which raised concerns that the less well off will be excluded from the banking system.

Mar 04 12:01

Russians not blinking over sanctions threats

Well this comes as no surprise. Western paper tigers, yes with lots of weapons and military forces staged all over, but also with 'house of cards' financial systems ready to collapse with one false move, are being called on their 'huff and puff' routine.

Russia calling the West's bluff. Sure, Putin will absorb the pounding of the Russian ruble as he knows he can't control the market fluctuations. But just like Europe and other countries learned with the Iran sanctions, that all the trade and jobs lost was all a huge senseless waste.

Mar 04 12:01

Battling a Bank to Collect a Judgment

Maury Rosenberg, a small-business owner from Philadelphia, has been waging a seemingly quixotic battle over the last six years against U.S. Bancorp after, he says, it forced him and his business into involuntary bankruptcy. Mr. Rosenberg, who ran a group of radiology screening centers, contends the bank violated federal law in using involuntary bankruptcy as a tool to collect debts. He says he has spent his every last penny — some $6 million so far — to fight a battalion of lawyers from U.S. Bancorp, which counters that Mr. Rosenberg is simply trying to evade his obligations.

Against tough odds, Mr. Rosenberg has won a series of rulings in at least four federal courts, which have found U.S. Bancorp’s actions to be improper.

Mar 04 11:41

Chevron’s ‘Friendly NY Judge’ Rules In Its Favor: Chernobyl In The Amazon Dirty Tricks

In a court ruling Amazon Watch and legal experts say involved dirty tricks by Chevron’s covert operatives, the U.S. District Court for Southern District of New York today ruled a $9.5 billion judgment against Chevron Corp. in Ecuador was the product of fraud and racketeering, finding it unenforceable,

“This ruling is a resounding victory for Chevron and our stockholders,” Chevron said in a written statement Tuesday in response to the ruling. “It confirms that the Ecuadorian judgment against Chevron is a fraud and the product of a criminal enterprise.”

Mar 04 11:39

Bitcoin Site Announces It's Going Out Of Business After Every Single One Of Its Coins Gets Stolen In A Single Theft

Another Bitcoin site disappears.

This time Flexcoin - which called itself a Bitcoin bank - has announced that it's going out of business after a huge theft that has wiped it clean.

This is the announcement. There's no sugarcoating it. Somehow all the Bitcoins were just taken.

Webmaster's Commentary: 

I suspect that someone working for the FED is behind this. Any alternative currency is a threat to their scam of forcing everyone to conduct business with money borrowed at interest from the privately-owned central bank.

Mar 04 11:03

RBS has lost all the £46bn pumped in by the taxpayer

Royal Bank of Scotland has lost all the money invested in it by the taxpayer six years ago when the lender came close to collapse.

Mar 04 11:03

28 Year Old CEO Of Bitcoin Exchange Dead After Possible Suicide

According to Tech in Asia, Singapore-based Bitcoin exchange platform First Meta’s 28 year old CEO Autumn Radtke committed suicide. Reasons are currently unknown.

[UPDATE: Tech in Asia has updated the article to emphasize that suicide is only suggested and not certain]

Mar 04 10:34

Radio Shack to close 1,100 stores

US electronics retailer Radio Shack has said it plans to close 1,100 stores - nearly 20% of its total - in an attempt to turn around its fortunes.

The move comes as the firm reported a net loss of $400.2m (£240m) for 2013, up from $139.4m a year ago.

Radio Shack has been hurt by growing competition, not least from online stores, which has dented its sales.

Webmaster's Commentary: 

When I was a kid, Radio Shack was where you went to get electronic components with which to build things. They had kits. They had parts. They had things serious radio and electronic hobbyists needed. I built a lot of cool things with parts from Radio Shack including my own metal detector and several radios. It was a fun place to go and stood out from other retailers.

Today Radio Shack has abandoned their original base and their stores, while still carrying a smidgin of parts and components stuffed away in a back corner, has filled their stores with the same consumer-level end-user products carried by everyone else ... then cannot figure out why competition has become such a problem!

Mar 04 09:43

Who Controls our Government? The Psychopathic Corporate Elites of America

Is it only me or is there something fundamentally flawed with the people who are running our government, including the autocrats, technocrats and bureaucrats who number in the hundreds of thousands. Does it bother you that the Wall Street banks and major corporations, many of our academia and religious institutions and our medical, military and intelligence gathering complexes, Big Pharma and Big Insurance have their needs met at the expense of everyone else? They control our government. We don’t. Instead we fear our government.

Mar 04 09:29

Kremlin warns US over potential sanctions

A Russian official says potential sanctions by Washington against Moscow would lead to the “crash” of the US financial system and end its global financial domination.

Webmaster's Commentary: 

Russia is right. The entire US financial system and the dollar are a thin shell propped up by fraud and bluster and little else.

There is an old saying I hope the people in DC recall that if one is standing on thin ice, the last thing you want to do is jump up and down.

Mar 04 09:29

EU summit called for Thursday in Brussels

European leaders, including Taoiseach Enda Kenny, will convene in Brussels on Thursday for an emergency summit, after foreign ministers refrained from imposing immediate sanctions on Russia yesterday.

The decision effectively imposes a deadline by which Russia must “de-escalate” the situation in Crimea, before targeted sanctions will be imposed.

Following yesterday’s meeting, foreign policy chief Catherine Ashton clarified that the EU was demanding that Russia move its troops back to its military bases.

Webmaster's Commentary: 

Europe has absolutely no game on this, and may wind up worse off economically than it was before Russia took over the Crimea, if they decide to impose sanctions against Russia.

If Gazprom either closes the taps (and Gazprom supplies over 25% of Europe's oil), or ups the price on this oil drastically, this could lead to incredible spikes in prices, and severe economic pain for all of Europe.

Mar 04 09:01

Russia warns it could ‘crash’ U.S. economy if sanctions enacted over Ukraine crisis

Russia could reduce to zero its economic dependency on the United States if Washington agreed sanctions against Moscow over Ukraine, a Kremlin aide said on Tuesday, warning that the American financial system faced a “crash” if this happened.

“We would find a way not just to reduce our dependency on the United States to zero but to emerge from those sanctions with great benefits for ourselves,” said Kremlin economic aide Sergei Glazyev, saying Russia could stop using dollars for international transactions.

Webmaster's Commentary: 

The Russians are no fools, and understand that a major crash in the US economy is coming: choosing to not use the dollar in their foreign transactions may just well ease such a crash along.

Mar 04 08:45

Largest Oil Refinery in Europe is on Fire

Neftekamskneftehim" is the largest in Europe oil refinery. It is located in Tatarstan, Russia. Today at 7.00pm Moscow Time, tens of firemen were urgently summoned as the oil giant was on fire.

Webmaster's Commentary: 

Accident or sabotage?!?

I would tend to think the latter.

Mar 03 14:03

Former Central Banker Admits "[They] Are Making It Up As They Go Along"

William White (former economist at the Bank of England, the Bank of Canada, and Bank of International Settlements) said:

“The analytical underpinnings of what we [mainstream economists] do are actually pretty shaky. A reflection of that fact, is that virtually every aspect you can think of with respect to monetary policy, about best practice, has changed and changed repetitively over the course of the last 50 years. So, this stuff ain’t science.

“Think about what’s happened recently. One, its completely unprecedented. People are making it up as they go along. This is hardly science – building on the pillars of the past.

“Secondly, what they’ve been making up as they go along actually differs across central banks [The Bundesbank, for example, is fighting the threat of high inflation, whereas the Fed is more concerned about the prospect of deflation]. They can’t even agree amongst themselves about what’s the best way to do things.

Mar 03 12:47

Suffering? Well, You Deserve It

The morning after my Feb. 20 debate at the Oxford Union, I walked from my hotel along Oxford’s narrow cobblestone streets, past its storied colleges with resplendent lawns and Gothic stone spires, to meet Avner Offer, an economic historian and Chichele Professor Emeritus of Economic History.

Mar 03 12:05

Cover Oregon health insurance exchange fiasco spawns problems for low-income Oregonians' health plan

Nearly 4,000 applicants for a state program that provides undocumented immigrants with pregnancy services were instead enrolled in full Oregon Health Plan coverage, contrary to federal law, thanks to problems with the Cover Oregon health insurance exchange.

Mar 03 11:21

Does housing policy amount to price fixing from banks? Negative equity, accounting standards, and control of supply. 1.3 million homes in California still underwater.

“Price fixing is an agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.”

For housing, most of the definition is met. Banks fully control distressed inventory and the Fed essentially owns the mortgage market. Since real estate is not standard like say a farm product, there is little ability to set prices in a uniform way however by controlling inventory via stunted accounting rules and slowing down on foreclosures over the years, slowly real estate has moved from weak hands (i.e., American consumers) to stronger hands (i.e., Fed backed banks). The main mission of the Fed was to protect member banks (many that owned overvalued real estate and derivatives). All other economic results have been a consequence of this primary mission.

Mar 03 10:20

Trade War: Gazprom Threatens to Disrupt Gas Supplies to Europe

Russian-controlled natural gas giant Gazprom has threatened to disrupt gas supplies to Europe following warnings by John Kerry and others that harsh economic sanctions could be imposed on Moscow, as the Ukraine crisis threatens to spiral into a trade war.

Mar 03 09:34

Markets Tumble as Ukraine Crisis Deepens

The growing crisis in Ukraine hit global financial markets on Monday, unsettling investors who had already been nervous about shaky emerging market economies.

Mar 03 09:23

Stop the bluster. We should hit Putin in the wallet - it's the most sensitive part of his anatomy

Webmaster's Commentary: 

There are too many people talking tough about Russia without thinking it through. Europe is heavily dependent on Russian oil and natural gas flowing through those Ukrainian pipelines. Sanctions against Russia by the west will likely result in an embargo of those products or at least a major price increase. And given that the United States has lost its ability to fly our astronauts into orbit, NASA depends on Russia to ferry our crews to the International Space Station and back, a ride that would likely vanish if sanctions are imposed.

Mar 03 08:47

Thrown in jail for being poor: the booming for-profit probation industry

Many poor Americans face jail when they can’t pay steep fines for nonviolent crimes, like $1,000 for stealing a $2 beer

Mar 03 08:18

‘Any government willing to cooperate with the IMF will be heralded as legitimate’

The West's proposed financial aid will not solve Ukraine’s economic problems, but increase austerity, professor of political economy Jeffrey Sommers told RT.

If the self-proclaimed government in Kiev cooperates with the IMF, it will be regarded as legitimate in the West, even if its decisions are unpopular in Ukraine itself, Sommers says.

Mar 03 07:32

Obama to campaign for minimum wage increase in face of Republican opposition

President Barack Obama will take his campaign to increase the minimum wage on the road in the coming week in an effort to build pressure on Republicans who oppose the raise.

Obama will appear on Wednesday in New Bristol, Connecticut alongside four New England governors to make the case, the White House said. The president wants to increase the minimum wage to $10.10 an hour from $7.25, where it has been since 2009.

The president will make the pitch a day after presenting his federal government budget proposal for fiscal year 2015. His budget is expected to emphasize programs aimed at speeding economic growth and creating jobs, but is not likely to be enacted in a divided Congress.

Webmaster's Commentary: 

There he goes again, doing the only thing at which he is even marginally adept: campaigning, while this country's economy goes into a death spiral.

Mr. President, where have you allowed all the good jobs to go, with this frenetic outsourcing/offshoring?!? The decent manufacturing jobs in this country used to be the bedrock of American prosperity; now, appear to be gone forever.

Mar 03 07:22

Mulligan: ObamaCare's Multiple Taxes Are Shackling the Job Market

Once we consider that the new law has an employer penalty, too, the labor market will be receiving three blows from the new law: the implicit employment tax, the employer penalty and the implicit income tax. Regardless of how few economists acknowledge the new employment tax, it should be no surprise when the labor market cannot grow under such conditions.

Mar 03 06:58

Uncertainty in Ukraine Providing Major Boost To Gold During Asian Session

Rising tension between Russia and Western nations over the fate of Ukraine is helping to push gold higher during the Asian trading session, to kick off what should be a volatile week for the yellow metal, according to some analysts.

Mar 02 21:12

Why The World Should Join The Russo-Chinese-Arab Offensive Against The US Dollar.

We used to have the moral high ground. We aren’t the Good Guys anymore. Rob Kirby

Sep 07 08:37

SULLIVAN VERSUS UNITED STATES TRANSCRIPT - PDF

This is a transcript from a court case, Sullivan Versus United States, in which Judge James C. Fox openly admits in the court record (page 23 of this PDF) that the 16th Amendment on which the personal income tax is based was never actually ratified.

He then goes on to admit that the government and courts will treat it as if it were ratified, simply because they have gotten away with it for so long!

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United States Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

Sep 06 12:19

Sullivan Vs United States - Judge ADMITS 16th Amendment failed ratification

Webmaster's Commentary: 

Today, we are hearing that the Infernal Revenue Service has been targeting political dissidents to a far greater degree than was previously exposed. Going beyond merely delaying tax-exempt status for Tea-Party, Occupy, and conservatives in general, donors to GOP candidates like Mitt Romney have been hit with disproportionate numbers of audits.

All America is now aware that the IRS is acting illegally. After all, such political targeting was an article of impeachment against Richard Nixon. So the time has come to take the discussion to the next level. Is the IRS, clearly acting illegally, itself legal? and the answer is "no", it is not. The Constitution forbids direct non-apportioned taxation of the people. An earlier version of the Income Tax was struck down by the United States Supreme Court on those grounds.

The Federal Reserve (itself a clearly unconstitutional usurpation of the money-creation authority vested in Congress by the Constitution) and the IRS claim that the passage of the 16th Amendment allows an income tax, but there are several problems with that claim. First and foremost, the 16th Amendment failed ratification! The necessary 3/4 of the states did not ratify the Amendment. Requests for proof that this Amendment was actually ratified are ignored. The IRS considers their enforcement actions the only legal reply they are required to make. And judges in tax courts (who are funded from tax revenues) inevitably refuse to examine the issue and simply declare from the bench that the Amendment was ratified, a power and authority not granted to judges under the Constitution.

There is one notable exception to this judicial legerdemain, and that is judge James C. Fox, who stated quite clearly in the court record for Sullivan Vs United States that the 16th Amendment, on examination, failed ratification. Sadly, however, that was not a tax case, and the judge mentioned the non-ratification of the 16th Amendment as justification for the enforcement of laws that may not have legally been passed, but were presumed valid through long use (i.e. we got away with it this long, so why should we change it now).

Yet another problem with the 16th Amendment is the United states Supreme Court, which ruled in Stanton vs Baltic Mining that the 16th Amendment, even if ratified, did not actually grant any new tax authority to the US Government. For one thing the original Constitutional prohibition against a direct non-apportioned tax is still in effect because it was not explicitly repealed by the hastily-contrived 16th Amendment.

So here we are, with the IRS clearly breaking the law, acting illegally, for all America to see, which is why this is a great time for activists to take the public discussion to the next level and ask if the IRS itself, and its master, the Federal Reserve, are actually legal under the Constitution.

PLEASE REPOST THIS EVERYWHERE!

Jul 06 08:52

Spitzer is back! The man who was politically assassinated for his sub prime accusations in 2006 now says the FED is a ponzi scheme. He's right. Again.

Apr 06 14:03

Founder plans to give up Oaksterdam after raid

In some of his most extensive comments since the raid, Lee acknowledged that he was worried he could face major federal drug charges. It’s a risk he has lived with for many years, first as an underground pot grower and then as the leader of a serious legalization effort, which drew vigorous opposition from the federal government.

“I never wanted to be the quote unquote leader of the legalization movement,” he said in a telephone interview. “I saw myself as just one small soldier in a big war. But I look at it as a battlefield promotion.”

Apr 05 11:16

NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed

A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness.

The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57% said the decision "involved the possibility of moving existing activities out of the U.S."

Apr 05 11:03

Oaksterdam University Raid 'Payback' For California's Marijuana Legalization Effort?

The man who bankrolled California's closest shot yet at fully legalizing marijuana, Prop. 19, saw his Oaksterdam University cannabis college in Oakland raided by federal authorities yesterday.
And pot advocates are fuming.

The Drug Policy Alliance suggests the raid by the U.S. Drug Enforcement Administration and Internal Revenue Service might have served one possible goal:
"Payback" for the 2010 legalization effort that failed but made a good try of it. The ballot effort was backed by Richard Lee, the millionaire owner of Oaksterdam.

Apr 05 10:56

Greek Pensioner Commits Suicide in Sindagma Sq-Suicide Note

The occupation government of Tsolagoglou (reference to the Occupation govt of the ex-Defence Minister Tsolagoglou who became Quisling Prime Minister of the 3rd Reich) has erased essentially any possibility of my survival which was based on a decent pension which for 35 years, I alone (without the intervention of the state) had paid.

I am at an age which doesn’t give me the individual capacity for a dynamic intervention (without of course precluding that if one Greek took up arms-Kalashnikovs, the second person would be me) I cant find another solution from a decent end before I end up looking in the rubbish bins for food.

Apr 05 09:34

Today's Ebay Special - The Country Of Greece For Sale

Currently going for the modest price of $1,550 with 6 more days left in the auction, today's hottest Ebay special is the sale of the country of Greece.

Apr 05 09:31

Americans brace for next foreclosure wave

Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.

Webmaster's Commentary: 

Apr 05 09:13

The phony economic deception machine – JP Morgan Chase CEO earns $23 million in 2011 while 2.7 million foreclosures are filed in the US. GDP at record levels but employment figures down by 5.3 million from their peak.

The US economic and political system is doing an excellent job sealing off opportunities for millions that aspire to be part of the middle class. Many are starting to realize that the system is rigged in favor of large financial institutions and those with political connections. The idea of raw success based on talent can be thrown out the window with the corporate welfare generosity leveled at the too big to fail financial institutions.

Apr 05 08:38

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A "Housing Bottom"

In what appears to be surprising news for some, Reuters has an article titled "Americans brace for next foreclosure wave" whose key premise is that "a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures."

Webmaster's Commentary: 

Apr 05 08:36

U.S. Standard of Living Has Fallen More Than 50%: Opinion

Using the year 2000 as the numerical base from which to "zero" all of the numbers, real wages peaked in 1970 at around $20/hour. Today the average worker makes $8.50/hour -- more than 57% less than in 1970. And since the average wage directly determines the standard of living of our society, we can see that the average standard of living in the U.S. has plummeted by over 57% over a span of 40 years.

Apr 05 08:29

Elite Greed Causing 'Austerity Suicides'

Brit Dee, Contributor
Activist Post

Yesterday saw the obscene consequences of the corrupt financial and political elite's insatiable greed, as a 77-year-old Greek man publicly committed suicide outside Parliament in Athens. The man, named locally as Dimitris Christoulas, reportedly pulled out a handgun and shot himself in the head during rush hour, having shouted "I'm leaving because I don't want to pass on my debts."...

Apr 05 08:26

The Unsustainability of Incarceration

The money that states spend on prisons has risen at six times the rate of spending on higher education. Specifically in California, the state spends $8,667 per student per year. It spends about $50,000 per inmate per year.

Apr 05 08:05

NH Best Selling Author Maintains Ron Paul Only Presidential Candidate Telling America the Truth about America’s Economic Woes

Best-selling author Barry James Dyke, author of The Pirates of Manhattan and recently released sequel, The Pirates of Manhattan II: Highway to Serfdom maintains Ron Paul is the only candidate consistently telling Americans the truth about its finances and the role that the Federal Reserve has in America’s decline.

Apr 05 08:01

Food inflation seen back on the table as prices rise

The United Nations Food and Agriculture Organisation (FAO) will update its monthly Food Price Index on Thursday and the organisation says prices could rise more in the short and medium term as grain supply tightens and energy prices stay high.

"You can see prices in the near term rising even further," FAO's senior economist and grain analyst Abdolreza Abbassian told Reuters ahead of the index update.

High crude oil prices have fuelled the upward pressure on inflation since the start of this year. Consumer prices in the 17 nations sharing the euro were up 2.6 percent in March from a year ago, despite stumbling economy.

Webmaster's Commentary: 

I don't know how some families are making it, in terms of grocery prices.

The last time Mike and I left our local grocery store here on Oahu, I teased him, asking where the heck the caviar was we MUST have somehow, inadvertently, purchased to run up the bill so intensely.

However, in looking at what we brought home, (produce, some poultry, and some cream for coffee), it was obvious that everything has just skyrocketed in terms of food prices. The discounts from the "big box" stores help, but only a little.

If you can, even if you are doing it with small pots on a terrace, please try to get more self-sufficient with growing and preserving a little of your own food.

If there is any interruption in the flow of oil from any of the potentially nasty geopolitical confrontations which could take place in the near-term, that is going to jack up the prices on everything, big-time.

Apr 05 07:52

The Second Foreclosure Tsunami Is Coming, And Is About To Kill Any Hopes Of A “Housing Bottom”

what appears to be surprising news for some, Reuters has an article titled “Americans brace for next foreclosure wave” whose key premise is that “a painful part two of the [housing] slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.”

Thank the robosettlement, where in exchange for a few wrist slaps, contract law was thoroughly trampled by America’s attorneys general, but far more importantly to the country’s crony capitalist system, the foreclosure pipeline was once again unclogged, and whether one does or does not have a legal title on a given house, the banks are now fully in their right to foreclose on it.

Webmaster's Commentary: 

No one in their right mind can look at numbers like this, and talk about "an American financial recovery in 2012" with a straight face.

Apr 05 07:49

Keeping the Slaves on the Plantation: Senate Says No Passport if You Owe Taxes

Eric Blair
Activist Post

CBS is reporting that Senate Bill 1813 that would "suspend passport rights for delinquent taxpayers" passed the Senate 74-22 on March 14th.

A bill authored by a Southland lawmaker that could potentially allow the federal government to prevent any Americans who owe back taxes from traveling outside the U.S. is one step closer to becoming law.

...The 'Moving Ahead for Progress in the 21st Century Act' or 'MAP-21' includes a provision that would allow for the 'revocation or denial' of a passport for anyone with 'certain unpaid taxes' or 'tax delinquencies'.

Apr 05 07:41

America: Freedom to Fascism - Director's Authorized Version

Apr 05 07:24

Tax Day Protests and Events 2012

PRESS RELEASE

For Immediate Release: April 5, 2012

Contact: Ruth Benn, NWTRCC Coordinator
800-269-7464 (718-768-3420) or nwtrcc@nwtrcc.org

“Tax Day” Antiwar Protests
Individuals Publicly Refuse to Pay Taxes for War

On April 19, 2012, two days after the April 17 tax deadline, peace activist and Gold Star Mother Cindy Sheehan will appear in court in Sacramento, California. The Justice Department, on behalf of the IRS, is seeking to discover why she hasn’t paid taxes in recent years. Sheehan has responded that “If the feds can give me my son back, I’ll pay my taxes.” She became a relentless peace activist following her son’s 2004 combat death in Iraq.

Apr 05 07:18

IMF CRIMES Result in 77-Year Old Gov’t Pensioner Commiting Suicide In Town Square – In Response Greeks Riot

The 77-year old Greek man who ended his life in the Town Square on Wednesday left the blame squarely on the shoulders of the Bankers, which includes Goldman Sachs (Mario Monti, their agent atop the Greek government), the Rothschilds and their criminal organization the IMF. The man left a heart-wrenching suicide note which read in part:

“The government has annihilated any hope for my survival and I could not get any justice… I cannot find any other form of struggle except a dignified end before I have to start scrounging for food from the rubbish.”

Apr 05 04:51

Beggared by Banks: 'Greeks forced to kill themselves'


The recent suicide of a cash-strapped Greek pensioner is a sign of the dire situation Greece finds itself in. It can be solved only by extreme measures such as default and giving up the euro, believes financial advisor Patrick Young.

Apr 04 18:10

Americans brace for second foreclosure round!

A painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

"We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010," said Mark Seifert, executive director of Empowering & Strengthening Ohio's People (ESOP), a counseling group with 10 offices in Ohio.

Webmaster's Commentary: 

No one in their right mind can talk about a "strengthening recovery", looking at numbers like this.

Apr 04 10:51

IRS Insider Joe Banister Exposes Federal Reserve Coup and IRS Fraud

Webmaster's Commentary: 

Consider this; we know from the Mortgage Backed Securities Fraud that the US Government refuses to investigate or even acknowledge the largest money-junkie frauds.

What if they have been doing that all along?

Apr 04 10:22

As unemployment soars, child labour returns to Europe

Under the headline “Child Labour Re-emerges in Naples”, the article describes how thousands of children have been forced to quit school and find jobs in order to help feed their families in the southern Italian metropolis. The article cites a local government report from 2011 which noted that 54,000 children left the education system in the Campania region between 2005 and 2009. Some 38 percent of these children were less than 13 years old.

Webmaster's Commentary: 

Watch for this practice to become common again in the US, in the not too distant future.

Apr 04 10:18

Raw Video: Police Pepper Spray California Students

Police pepper spray as many as 30 Santa Monica College students protesting at a trustees meeting over a plan to offer high-priced courses.

Apr 04 08:53

450 RESIGNATIONS FROM WORLD BANKS, INVESTMENT HOUSES, MONEY FUNDS

Apr 04 07:45

Six universities at risk of closure after bond swap

An emergency meeting of university rectors on Tuesday heard that only 33m euros remained of 120m euros that 17 Greek universities had deposited with the Bank of Greece for their operating expenses, while six university accounts were now completely empty meaning they would soon be unable to stay open.

Apr 04 07:36

Not Good Enough

Apr 04 07:36

America's 'smallest town' Buford goes up for sale

Buford once had 2,000 inhabitants, but then the railroad dropped it as a stopping point, and locals gradually moved out

For a sum which would barely buy a one-room apartment in most places – and a lot less in big cities – the purchaser of Buford, Wyoming would get over 10 acres of land including a three-bedroom home, a garage, and a mobile phone tower.

The Buford Trading Post shop benefits from regular traffic along the I-80 interstate, with Wyoming capital Cheyenne just 30 miles (50 kilometres) to the east, and San Francisco 1,150 miles (1,800 kilometres) to the west.

Apr 04 07:35

China overtakes US as world's largest grocery market

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, says IGD.

The Chinese grocery sector was worth £607bn at the end of 2011, while the US market - which includes Wal-Mart, the world's largest retailer - dropped into second place at £572bn.

"This rapid expansion has been fuelled by three main factors: rapid economic growth, population and rising food inflation," said IGD chief executive Joanne Denney-Finch.

By 2015, the Chinese market is forecast to be worth £918bn compared to a US value of £675bn, according to the report by the British grocery industry group.

Apr 04 07:19

Chinese Insider Offers Rare Glimpse of U.S.-China Frictions

The senior leadership of the Chinese government increasingly views the competition between the United States and China as a zero-sum game, with China the likely long-range winner if the American economy and domestic political system continue to stumble, according to an influential Chinese policy analyst.

Webmaster's Commentary: 

I agree.

Mar 16 12:27

Ocean Radiation Plume Hits Hawaii From Fukushima Nuclear Meltdown

The latest marine impact simulation shows the radioactive plume of ocean radiation from the Fukushima nuclear meltdown has now hit Hawaii

Mar 16 12:25

What Closing The Straits Of Hormuz Will Mean In 3 Simple Charts

These 3 simple charts fully explain the shock waves that will be sent through the global economy if Iran decides to shut down in response to western military threats.

Mar 14 09:03

The US Dollar is No Longer King!!

Mar 14 08:50

Keiser Report: White Man's Debt Burden

In this episode, Max Keiser and co-host Stacy Herbert discuss how a video not featuring Justin Bieber went viral and how Max Keiser started a gold stampede. They also talk about "the white man's debt burden" of Uganda's resources and Afghanistan's "crony capitalism". In the second half of the show, Max talks to David Morgan about silver circles, ounces and manipulation.

Mar 14 03:25

Romney Declines To Enroll In Medicare

Mitt Romney Declines To Enroll In Medicare So He Can Destroy It

Monday was Mitt Romney's 65th birthday. Happy birthday, Mittens. In honor of his 65th birthday he announced that he would not be enrolling in Social Security or Medicare. How noble. Except, it's not.

In deference to the conservative dogs nipping his heels, Romney has endorsed the Paul Ryan Medicare plan which would voucherize Medicare and leave senior citizens floundering on their own with private insurance companies. Of course, if you asked Mitt Romney about it, what you'd get is a bunch of lies. Really awful, cynical, blatant lies.

Jan 16 11:04

Lawsuit Exposes Foreclosure Kingpin David Stern

Investors admit foreclosure documents were FORGED, while Stern pocketed $60 million in the transaction - And now, they are suing.

---

Jan 16 11:01

Bill Gross Exposes "The New Paranormal" For Markets

And it's not pretty for US investors...

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Jan 16 10:42

When Romney ran Bain Capital, his word was not his bond

Seemingly alone among private-equity firms, Romney’s Bain Capital was a master at bait-and-switching Wall Street bankers to get its hands on the companies that provided the raw material for its financial alchemy. Other private-equity firms I worked with extensively over the years — Forstmann Little, KKR, TPG and the Carlyle Group, among them — never dared attempt the audacious strategy that Bain partners employed with great alacrity and little shame. Call it the real Bain way.

Jan 16 10:39

Wall Street, Washington and Gingrich

Newt Gingrich and his consulting companies helped financial-services giant Credit Suisse Group gather exclusive Washington information and analysis, showing that the Republican presidential candidate benefited from a practice that has come under fire from lawmakers.

This "political intelligence" business—while legal—also risks muddying the campaign argument by the former House speaker that he has been a Washington outsider since he left Congress in 1999.

Jan 16 10:27

So, who, exactly, is funding Mitt Romney's 2012 Presidential Campaign?

Jan 16 09:45

An Open Letter to Family and Friends About Preparedness

I’m writing this letter because I care about you. Please take a few minutes to read it and think about what I’m saying...

Jan 16 09:44

Ron Paul Parade by South Florida Grassroots!

Jan 15 16:09

Iran rial slides, 'dollar' text messages appear blocked

TEHRAN, Jan 10 (Reuters) - Iran's currency has slid 20 percent against the dollar in the last week despite central bank intervention, and Iranians concerned about the economy said on Tuesday attempts to send text messages using the word "dollar" appeared to be blocked.

The central bank reportedly pumped $200 million dollars into the market last Wednesday after new and much tougher U.S. sanctions prompted nervous Iranians to change rials into hard currency, accelerating a rise in the price of dollars on the open market.

Jan 15 08:34

Hungarians hold anti-EU demonstration

Thousands of Hungarians have protested against the European Union, urging their country to pull out from the bloc while Budapest seeks EU's backing to evade insolvency.

Nov 16 10:32

Give Me Liberty Or Give Me Death - Patrick Henry, March 23, 1775.

Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!

Webmaster's Commentary: 

As I type these words, the question on everyone's mind is whether this international revolution that started in Iceland and has already spread to Egypt and the Middle East will continue to spread across America. At the gas pumps and the supermarket checkout lines, the people speak of rebellion openly, if less furtively with each passing day.

There really is no way to avoid it. The money-addicts have created a world where firing the government is not only the best option; for most of us it is the only option. To not revolt is to condemn our children to lives of starvation and hopeless debt slavery to the Private Central Bankers, Goldman-Sachs, Morgan Stanley, etc. et. al. under a government with a demonstrated history of looting the people to feed the bankers, a government that views our lives as cheap and easily sacrificed for wars of conquest, or to be discarded without complaint to keep Israel happy when it attacks Americans in international waters.

Even now, the US Government prepares to solve its present debt crisis by embezzling the American taxpayer of their retirements by defaulting on the loans made to the US Government by Social Security. They will praise your silent consent as 'patriotism, but is such silence really patriotic? The men who created this nation did not think so!

"If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains set lightly upon you; and may posterity forget that ye were our countrymen."--Samuel Adams

The tragic reality is that the US Government has already declared war on the people of the United States. Bit by bit our rights are trampled on. Our wealth is confiscated for the benefit of a foreign power. Our homes are confiscated to pay the gambling debts of the bankers. Our emails are read, our phone calls listened to, our computers ransacked, all without warrant or due process. Torture and extrajudicial executions are the new reality of life under this tyranny. Our freedoms are confiscated to so that the government does not have to look with fear upon the people.

Even as our taxes increase, the maintenance of the nation is abandoned by a government intent on enriching a foreign power and fighting that foreign power's wars, along with saving the Wall Street money-junkies from the consequences of their swindles. Worse, to serve their foreign masters, the present government seeks to reduce the people of the united states to mere chattel from whom wealth may be extracted at leisure. Look around at our deteriorated condition and you see the growing effects of a war of conquest against the American people by the present government and financial institutions. The starvation and privations of the American people not only equals that of the nations in revolt; they are in actuality far worse! Americans have far greater reason to fire their government than the Icelanders, Tunisians, or Egyptians!

"It is in vain, sir, to extenuate the matter. Gentlemen may cry, Peace, Peace-- but there is no peace. The war is actually begun! The next gale that sweeps from the north will bring to our ears the clash of resounding arms! Our brethren are already in the field! Why stand we here idle? What is it that gentlemen wish? What would they have? Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" -- Patrick Henry

What Patrick Henry really meant in those final words went beyond mere drama. Patrick Henry declared that he would no longer be a slave, either to King George or to the Bank of England. He would be free, or he would be dead, but either way King George III would no longer own him as a slave, nor the Bank of England enjoy automatic title to the proceeds of his labor, so better for England to quit and save the lives of their soldiers then to waste lives seeking a slave who refused to be a slave.

Tragically, money-addicts never care about the lives of their own soldiers.

"Military men are dumb, stupid animals to be used as pawns for foreign policy." -- Henry Kissinger, quoted by Bob Woodward in The Final Days

So, King George III, in the throes of his money-addiction, and as owned by the Bank of England as the present government is by the Federal Reserve, tried to prove Patrick Henry wrong, which led to the humiliation at Yorktown.

Addicts to other peoples' money know no limits, no morality, no sense of fair play. They are hopelessly trapped by the allure of glittering gold. Like a Magpie, they simply must possess all that sparkles!

Bernie Madoff is the classic example. Co-founder of NASDAQ, with more money than any one man could spend in a lifetime, and he still felt compelled compelled to defraud his investors for another $65 billion. This is mental illness; the money-addiction that grips Wall Street and Washington DC, which symptoms manifest as (in one example) a psychotic compulsion to wear the entire productivity of a worker's life as a decoration on one's wrist. Not content with that, next year it will be the need to wear the the entire productivity of 100 workers' lives as a decoration on one's wrist that will drive the money addicts to greater crimes against the people.

Money addicts do not see their behavior as wrong or evil. Secure in their religious delusions that wealth is the sign of God's favor, they see themselves as heroes and heroines. Lloyd Blankfein, the head of Goldman Sachs, declared he was doing "God's work" at the time we now know Goldman Sachs was looting taxpayer money directly from the US Treasury to their own pockets. In their own minds the money addicts are the good guys; the stars of the world, the rightful inheritors of all of life's blessings. Sadly, history has shown that it is often easier to kill money-junkies than to cure their addiction, let alone get them to change their minds about themselves and to acknowledge their problem and its high social costs.

So, yes, a revolution in the streets of America is now an inevitability, albeit a revolution to be fought not with guns and bombs, but with keyboards and the truth. The money-addicts in Wall Street and DC have created a situation in which revolution is unavoidable, and already we see the hired things of the bankers cracking the heads of those people who dare to proclaim their refusal to pay debts not of their own making.

And as has been the case in Egypt, the US military, openly abused on their mortgages by J. P. Morgan, stand with the people. So do many police officers whose pension funds were destroyed by the mortgage-backed securities fraud.

The message to those who would rebuild their failed financial palaces on the backs of the people is thus a simple one. We shall not bail you out ever again. Yes, you may murder those who refuse to live on less so that you may have more, but it shall not change the final outcome. Living or dead, we are your slaves no longer.

That was Patrick Henry's message all those years ago, and it is still true today.

Oct 21 12:44

Occupy Wall Street Simplified

Oct 20 15:17

Sedan again as Germany imposes terms

There is an "unequivocal commitment" that haircuts will be confined to Greece alone. If you believe that, I have some ocean-front property to sell you in Alsace.

Fresh details soon.

Oct 20 15:14

EU Considers Temporary Bans on Sovereign Ratings

The European Commission is leaning toward proposing a ban on the issuing of sovereign credit ratings for countries in bailout talks, a top official said on Thursday.

Webmaster's Commentary: 

Basically, this is like asking for a credit card but refusing to turn over your credit scores, and the EU us not doing this because the numbers are good!

Aug 17 17:06

FLASHBACK - High-Frequency Trading: High-tech highway robbery

The Securities and Exchange Commission (SEC) knows that High-Frequency Trading (HFT) manipulates the market and bilks investors out of tens of billions of dollars every year. But SEC chairman Mary Schapiro refuses to step in and take action. Instead, she's concocted an elaborate "information gathering" scheme, that does nothing to address the main problem. Schapiro's plan--to track large blocks of trades by large institutional investors-- is an attempt to placate congress while the big Wall Street HFT traders to continue to rake in obscene profits. It achieves nothing, except provide the cover Schapiro needs to avoid doing her job.

Aug 17 16:44

FLASHBACK - FBI Probing SEC Attorneys for Insider Trading

Two enforcement lawyers at the Securities and Exchange Commission are being investigated by federal prosecutors and the FBI for possible insider-trading violations, according to a report from the SEC's inspector general.

The criminal investigation, which was disclosed to SEC Chairman Mary Schapiro in a March 3 memo, came about after SEC Inspector General H. David Kotz conducted his own investigation into the matter and referred it to criminal authorities after discovering suspicious trading activity.

Webmaster's Commentary: 

Is this one reason Madoff went unchecked for so long? Were SEC insiders sharing in the goodies?

Aug 17 16:44

FLASHBACK - Kucinich Who Told SEC to "Stand Down" on Stanford Probe

Chairman of the Domestic Policy Subcommittee, Congressman Dennis Kucinich (D-OH) today sent a letter to Ms. Mary Schapiro, Chair of the Securities and Exchange Commission (SEC) requesting documents that could reveal which government agency told the SEC to "stand down" rather than take enforcement action against the Stanford Group in October 2006 as has been reported by the New York Times.

Webmaster's Commentary: 

I want to know who told the SEC to stand down from investigating Madoff!!!

Apr 18 19:38

FLASHBACK - OFFSHORING AMERICAN JOBS - Corporations, Campaign Cash, & Bush Administration Policies.

Webmaster's Commentary: 

This document lays out the means by which the Bush administration changed the laws and tax codes to allow and even encourage corporations to send high-paying jobs to American companies even as Wall Street was already cranking up the machine to create and sell fraudulent mortgage=-backed securities.

The email responses to my expose' that the US is being looted to cover the buyback of fraudulent mortgage-backed securities usually view the firestorm of foreclosures as a knee=jerk reaction by the bankers to keep their balance sheets intact, but in looking at the timing of the Bush policies, and the fact that President George W. Bush was the first President to end his administration with fewer working Americans since Hoover, it seems clear that it was intended right from the start of the crisis to destroy Americans' ability to pay their mortgages, in order to allow the banks to seize those homes to preserve their capital structure.

Outright nationalization of private property would have triggered a rebellion, but by getting rid of the high paying jobs, the banks could grab the property to recapitalize themselves and make it look like it was the homeowners' fault!

This is the only possible explanation of why, in his first two years in Office, President Obama did nothing to stop the offshoring of American jobs, and indeed in the last two years, overall, offshoring has increased, and those jobs are never coming back!

This disaster is a deliberate creation of Wall Street and Washington DC. It's purpose is at best fulfillment of simple greed by the money addicts; at worse a plot to trap the whole world in a globalized version of a private central bank; a Federal Reserve on steroids!

Jan 08 10:58

Feast in Time of Plague: Wall Street Art of Sucking Money

Webmaster's Commentary: 

THE US GOVERNMENT TOOK YOUR JOBS SO THE BANKS COULD TAKE YOUR HOMES TO COVER THE COSTS OF THEIR MORTGAGE-BACKED SECURITY FRAUD

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