ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 08 15:50

Another US Retailer To Close 243 stores

May 08 14:59

Former Obama Campaign Manager Led Austerity-Loving Tories to Victory

After the surprise win of the United Kingdom's Conservative Party in Thursday's national election, the spotlight has now fallen on American political operative Jim Messina, who led the pro-austerity party to victory.

May 08 14:45

Putin's Greek Pawn Gambit

In my earlier blog post on 17 March of this year, Hey Obama -- The Chess Match Just Started, I broached the idea that Greece's request for major war reparations from Germany for the WW-II NAZI invasion and occupation of Greece, and associated war crimes, could plausibly be seen as a sly gambit by multiple countries to ultimately ensnare the war-mongering USSA and bring it to heel.

May 08 14:40

“Government Wants to Control Your Car” and Prevent You From ‘Tinkering’ Under DMCA Copyright

Think you own your car? Think again. Soon you won't even be allowed to work on it. http://ow.ly/MIFXQ

Modifications – performance enhancements – and even routine maintenance are to become illegal via the application (and enforcement) of the Digital Millennium Copyright Act (DMCA) to cars.

They are claiming propriety rights to the software embedded in the computer ...

Read more at SHTFplan.com

May 08 14:32

Brace Yourself for a Bigger Debt Bomb

May 08 13:07

World’s Richest 80 People Own Same as World’s Bottom 50%

Oxfam’s recent report, “WEALTH: HAVING IT ALL AND WANTING MORE” contains shocking figures that the press haven’t sufficiently publicized; so, the findings and the reliability of their sources will be discussed here. The results will then be related to the central political debate now going on in the U.S. Presidential contests for 2016, which is about equality and inequality.

May 08 11:50

America’s richest congressman says poor in the US are ‘envy of the world’

California GOP Rep. Darrell Issa was challenged by CNN Money correspondent Cristina Alesci on Thursday after he seemingly downplayed income inequality issues in the US.

“America’s the richest country on Earth because we've been able to put capital together and we've been able to make our poor somewhat the envy of the world,” Issa told Alesci.

Webmaster's Commentary: 

A memo to Congressional Representative Issa: you really need to get out more before you make a statement like that.

Because the manufacturing that used to prop up the American Middle Class has been outsourced/offshored, many people are only left with the possibility of working several jobs, at minimum wage, so there is little to no upward mobility left, sir.

May 08 11:23

The Titans Of Finance Speak

May 08 10:20

WITH BANKS 'STILL TOO BIG TO FAIL,' ANOTHER FINANCIAL MELTDOWN LOOMS

"The top six bank holding companies are considerably larger than before, and are still permitted to borrow excessively relative to the assets they hold," the report states. "They are dangerously interconnected and remain vulnerable to sudden runs, because they borrow billions of dollars from wholesale lenders who can often demand their cash back each and every day." (Photo:Butz.2013/flickr/cc)

Seven years after the financial crisis began, many of the conditions that helped cause the near collapse of the U.S. banking system—and that were used to justify the multi-trillion-dollar U.S. government bailout of mammoth financial institutions—endure, warns a new report from the Corporate Reform Coalition (CRC).

Webmaster's Commentary: 

Those in power refuse to learn from past mistakes, which makes certain that the US is headed toward another financial collapse, with the taxpayer ultimately paying the bill, of course).

May 08 09:56

What The US Government Spends Its Money On, Besides Hookers And Gambling

While there are those who, oblivious of the fastest collapse in US economic data on record, have pointed out that government tax receipts are rising with the implication being that the US consumer is doing quite fine thank you (and they are absolutely correct if by "consumer" they mean about 1% of the US population), what is rarely if ever discussed is that government expenditures are rising just as fast.

May 08 09:00

Greece could use 'parallel currency' as desperation grows

Greece could start using a "parallel currency" to pay its civil servants if it runs out of cash, one of the European Central Bank's board members has suggested.

Highlighting the desperate situation faced by the country, Yves Merch, a member of the ECB's executive board and governor of Luxembourg's central bank, told Spanish newspaper La Vanguardia that Greece could resort to using "exceptional tools" to pay its obligations.

"There are intermediate solutions circulating, such as the issuance of a parallel currency or IOUs," he told the newspaper. "All these measures are among the exceptional tools that any government can consider if it has no other options. But all of them have a high cost."

May 08 08:56

Comcast accused of demanding customer silence in exchange for refund

Just two days after Comcast Corp. unveiled plans to overhaul its much-criticized customer service, 6ABC reported that the company offered a $600 refund to an overcharged customer but only if he agreed to sign a nondisclosure agreement.

The report says that Comcast overbilled three couples by hundreds of dollars for as long as five years for cable boxes they already returned. One of those couples John and Carol Lehman mentioned a voicemail requiring their silence in exchange for the refund. 6ABC has more, including a response from Comcast about the allegations.

May 08 08:39

Air Canada Dismantles Fuel Consortium

Air Canada walked away from long-term agreements with aviation fuel providers in Montreal and Toronto this week. When it was joined by West Jet, Air Transat and others, it meant the dismantling of the Canadian airline fuel consortium and the loss of hundreds of good paying jobs.

May 08 08:35

Greece set to hit holidaymakers with 18% tax on hotels and restaurants (but tourism chiefs warn move is 'catastrophic')

Tax could rise to 18 per cent from 13 per cent on restaurant bills, while tax on hotels could almost triple from the current 6.5 per cent rate.

Fears are growing that it will not only affect those with existing bookings to visit the country, but also put prospective tourists off.

May 08 08:34

Low wage America: People think minimum wage is for young workers but the average age of someone on minimum wage is 36. Half of Congress is made up of millionaires.

People have a hard time understanding the vast number of Americans working in low wage jobs. There is a very real reason why dollar stores paint the heartland. We also have 46 million Americans on food stamps. One of the big issues that we will certainly hear about during this campaign season is the erosion of the middle class. Even though the stock market is hovering near all-time peaks, the regular worker is feeling like the economy is pulling past them.

May 08 08:31

A fantasy that explains Globalism

The Delaware state government suddenly passes a law saying that importers can buy shoes from the company in Indiana and bring them into Delaware for sale. There will be no import tariffs of any kind.

The citizens of Delaware protest. They point out that this law will kill the shoe company in Delaware. Their state government tells them; the law is the law.

And this whole Indiana-Delaware arrangement is mislabeled free-market capitalism or free trade.

It’s a market, but it isn’t free. The workers carrying the load in Indiana are under the gun. Nowhere in their state can they earn more than a few cents an hour.

This isn’t capitalism. It’s Globalism.

May 08 08:15

Layoffs hit 3-year high in April as energy cuts surge

Layoffs surged in April to the highest level in three years as energy sector employers announced a fresh wave of job cuts.

U.S.-based companies said they would let go 61,582 workers last month, the most since May 2012, according to a report by global outsourcing firm Challenger, Gray & Christmas.

May 08 07:58

132 Nations Join To End Rothschild Banking

Just a few weeks ago, 132 nations decided they’ve had enough of the ‘secret’ money jig we’ve all been dancing to. One of the largest coalitions of developing nations in history has urged Secretary-General of the United Nations Ban Ki-moon, to provide, “as soon as possible…alternative options for banking services.” 132 countries, including China are done with the funny money scheme.

Webmaster's Commentary: 

So the official US Government Special High Interest Targets list now numbers 132?

May 08 07:55

Why Microsoft is calling Windows 10 'the last version of Windows'

"Right now we’re releasing Windows 10, and because Windows 10 is the last version of Windows, we’re all still working on Windows 10." That was the message from Microsoft employee Jerry Nixon, a developer evangelist speaking at the company's Ignite conference this week. Nixon was explaining how Microsoft was launching Windows 8.1 last year, but in the background it was developing Windows 10. Now, Microsoft employees can talk freely about future updates to Windows 10 because there's no secret update in the works coming next. It's all just Windows 10. While it immediately sounds like Microsoft is killing off Windows and not doing future versions, the reality is a little more complex. The future is "Windows as a service."

May 08 07:51

'US will try to set roadblocks on yuan’s path to get reserve currency status’

The US is unhappy with Beijing challenging it in regard to the reserve status of the dollar as China’s economy is growing and the yuan is becoming more attractive for other nations to hold, Robert Wenzel publisher of Economic Policy Journal.com told RT.

The IMF is debating whether to make China's yuan a new reserve currency, according to the Financial Times. If Beijing is included in the Special Drawing Rights (SDR) basket it will have better access to capital, it will be easier to take out loans, and China's political influence will be expended.

Webmaster's Commentary: 
May 08 07:39

Boeing eyeing 'strong demand' in Iran market

Boeing has set its sights on the Iranian aviation market and expects a 'very strong' demand, an official with the multinational aerospace manufacturer said.

Webmaster's Commentary: 

"No, no, no, no, NO! You cannot do business with Iran until they recognize Israel as a Jewish state and abandon their nuclear power program! If you are a patriotic American company you will do as you are told and go bankrupt along with the rest!" -- Official White Horse Souse

May 08 07:35

April Payrolls Miss At 223K, March Revised Much Lower, Wage Growth Disappoints Again

While the April payrolls came almost precisely as expected, at 223K, a tiny 5K below the 228K expected, the reason stock are soaring is that the already abysmal March payroll prints was revised even lower to just 85,000, the weakest print since June 2012, and pushing the 3 month average job gain to under 200K, or a level which the Fed has indicated previously it will hardly do much if anything material.

The household survey did not provide an offsetting boost, with the number of employed Americans rising only 192,000 in April according to the "other" survey.

May 08 07:34

WNW 189 Yellen Warns of Danger, Economy Diving While MSM Lying, Middle East Boils

The ridiculous drum beat from the mainstream media (MSM) has been repeating this so called “recovery” since the 2008 meltdown. I also keep repeating that there is no real recovery. There are a variety of data points you can look at, but the most recent include retail sales and factory orders have plunged while the trade deficit has spiked. It was announced that nearly 50 companies are closing 6,000 stores. The oil industry is shedding thousands of jobs, and 62% of Americans are living paycheck to paycheck. You think I am being too negative? Maybe someone should also tell Fed Head Janet Yellen to tone it down as well. This past week, she sounded the alarm on “quite high” stock prices and warned of “potential danger” in the bond market. Still, you get headlines like this one saying “Fear Not. This May-October Looks Better Than Others.” This is not only wishful thinking, but it is bad reporting to ignore major data points that say the economy is tanking and not recovering.

May 08 07:22

Wealth gap widens as more forced to rent

May 08 07:20

Dollar Danger Zone

The US dollar has been the world’s reserve currency since Bretton Woods – about 70 years. The power and importance of Middle-East oil and the US economy and military have supported the dollar for about 40 years. Quick story:

The world buys oil in dollars. (Thank you Saudi Arabia and Kissinger.)
Therefore the world must purchase (support) dollars to obtain oil.
The US supports the oil producing nations with military might.
The oil producing nations collect dollars in exchange for oil and recycle those petrodollars back into US T-bonds and equities thereby supporting the dollar and the US stock and bond markets.

The process works exceedingly well for the US since, as Bernanke noted, we have a printing press and can “print” the dollars to pay for oil and other imported goods.

But how much longer can the US maintain this dollar support process?

Webmaster's Commentary: 

5, 4, 3, 2 ...

May 08 07:00

Honolulu extends ban on sitting, lying in certain districts

The Honolulu City Council wants sitting and lying down on sidewalks to be prohibited in more parts of town.

The Council voted 7-2 on Wednesday to expand the city's so-called "sit-lie" ban to encompass more areas where homeless people camp.

The city already bans sitting and lying down in Waikiki, Chinatown and other commercial areas.

Mayor Kirk Caldwell hasn't decided if he'll sign the proposal, said his spokesman, Jesse Broder Van Dyke. Some say the plan is too broad and will be challenged in court, he said.

May 08 06:47

Americans Not In The Labor Force Rise To Record 93,194,000

In what was an "unambiguously" unpleasant April jobs payrolls report, with a March revision dragging that month's job gain to the lowest level since June of 2012, the fact that the number of Americans not in the labor force rose once again, this time to 93,194K from 93,175K, with the result being a participation rate of 69.45 or just above the lowest percentage since 1977, will merely catalyze even more upside to the so called "market" which continues to reflect nothing but central bank liquidity, and thus - the accelerating deterioration of the broader economy.

May 08 00:00

Make the Rich Panic

May 08 00:00

One in Four Local Banks Has Vanished Since 2008

May 07 19:10

In Most Countries, 40 Hours + Minimum Wage = Poverty

A new study by the OECD finds that in the vast majority of member countries, working full-time at minimum wage is not enough to keep families above the poverty line.

May 07 19:08

FRB Bail-ins: You Don’t Own Your Money

While shocking to some, the bail-in strategy is completely legal. Client account holders can only profess ignorance which – when it comes down to it – will not be enough to protect them. Knowingly, or unknowingly, account holders are investors and not savers.

The event in Cyprus is and will not be an isolated event. We know this because the outline for it happening elsewhere has already been clearly stated and put in writing. The G20 seems to be preparing for a normalization of bail-ins. In Canada, a bail-in regime was announced already in the 2013 budget.

This means that all bank issued debt instruments can be used to save the banks. Demand deposits and guaranteed investment certificates are debt instruments created by the banks which they can do whatever they feel with.

May 07 17:38

Make the Rich Panic

May 07 17:29

One in Four Local Banks Has Vanished Since 2008

May 07 16:52

3 Things: Trade, Confidence & Momentum

May 07 16:27

McDonald’s Turnaround Plan- KALE

May 07 16:13

Why “Junk Silver” Is Not Junk

May 07 15:30

Is the Fed losing control of interest rates?

May 07 15:28

This could be a very bad sign for bonds

May 07 15:07

Wall Street Titans Who Crashed Global Economy in 2008 Go Big for TPP

Even as millions and millions of Americans—represented by thousands of labor, environmental, family farm, consumer, faith, Internet freedom and other advocacy organizations—continue to stand firmly in opposition to the Trans-Pacific Partnership, those backing the TPP, including President Obama and a large majority of the Republican caucus, still have two dedicated demographic groups pledging their allegiance to the cause and arguing the so-called “free trade agreement (FTA)” would be good for average workers and the economy overall: billionaires and Wall Street titans.

May 07 14:58

The 90,000 Square Foot, 100 Million Dollar Home That Is A Metaphor For America

Just like “America’s time-share king”, America just keeps on making the same mistakes over and over again. Prior to the financial collapse of 2008, time-share mogul David Siegel and his wife Jackie began construction on their “dream home” near Disney World in Orlando, Florida. This dream home would be approximately 90,000 square feet in size, would be worth $100 million when completed, and would be named “Versailles” after the French palace that inspired it.

May 07 14:44

With Banks 'Still Too Big to Fail,' Another Financial Meltdown Looms

Seven years after the financial crisis began, many of the conditions that helped cause the near collapse of the U.S. banking system—and that were used to justify the multi-trillion-dollar U.S. government bailout of mammoth financial institutions—endure, warns a new report from the Corporate Reform Coalition (CRC).

May 07 14:10

They Say This As If It Were A Good Thing?

May 07 14:05

When Will The Economy Collapse?

May 07 14:01

Is The U.S. Economy Headed Into Recession?

Webmaster's Commentary: 

Is this a trick question?

May 07 13:57

U.S. Economy Collapsing Faster Than In 2008

May 07 13:41

U.S. Economy Collapsing Faster Than In 2008

May 07 13:30

The Texas Job Recession Is Now Literally “Off The Chart”

Job recession in Texas has not been this bad since the last of the second Great Depression

May 07 13:19

Feds collect record $472 billion in taxes in just one month

The federal government set a record tax haul in April, taking in nearly a half-trillion dollars in one month alone, according to Congressional Budget Office statistics released Thursday.

May 07 13:16

As more rent, the wealth gap widens

May 07 13:10

The Rich Get Richer - Titanic Stock Bubble Fueled by Buyback Blitz

Why are stocks still flying-high when the smart money has fled overseas and the US economy has ground to a halt?

May 07 12:35

Seizing an alternative: Recognizing The Emperor’s New Clothes as THE STORY of today (1 of 7)

*hyperlinks live at source*

The following is my paper for the Claremont Colleges’ conference, Seizing an Alternative Toward an Ecological Civilization, with open registration to the public on June 4-7, 2015.

https://www.youtube.com/watch?v=Y6MAuQWnXfw

https://vimeo.com/5412622

Paper title:

‘Emperor’s New Clothes’ political collapse: Seizing an alternative to OBVIOUS unlawful wars, bankster looting, lying corporate media
I’ve divided the paper into sections:

Recognizing The Emperor’s New Clothes as THE STORY of today (1 of 7)

Obviously unlawful US/UK wars of the present (2 of 7)

Obviously unlawful Israel wars on Gaza (3 of 7)

War lies to hide obviously unlawful wars: propaganda as usual (4 of 7)

Bankster looting: fundamental fraud that “debt” is “money” (5 of 7)

Lying corporate media: required propaganda trying to hide naked empire (6 of 7)

Integrity for the whole truth, and nothing but the truth (7 of 7)

May 07 12:28

The New Corrupt Elite That Is Running Our Economy

Talking about old systems of power and corruption doesn't begin to capture new realities.

May 07 12:07

What Good Is Technological Progress Without Moral Progress?

But as we consider what the next 10 years will bring, let's ask ourselves this: What good are these technologies if they cannot be shared and enjoyed by all -- especially the people or nations who need them most? Or if a lack of security and stability prevent people from accessing them?

In other words, what good is technological progress without moral progress?

Answer: It's nothing more than the illusion of progress.

May 07 12:05

Rick Rule: The opportunities in front of us

May 07 11:26

Canada’s 57 Billion Dollar Surplus: The Government’s Massive Grab of Workers’ Money

Canada’s Finance Minister Joe Oliver delivered his budget in Ottawa on Tuesday April 21, and, as all budgets are political, this one not only sketched out the “major planks of the Tories’ fall campaign,” but its political nature is also characterized by what Prime Minister Harper has removed from it; a 57 billion dollar employment insurance surplus fund—as a result of a July 2014 Supreme Court of Canada ruling—thus allowing his government to circumvent the parliamentary system of budget scrutiny for such a large amount of money.

May 07 10:35

The Clintons and Their Banker Friends the Wall Street Connection (1992 to 2016)

The past, especially the political past, doesn’t just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward.

May 07 10:18

Bank of England overstated March UK debt sales to overseas investors by 200%

On the eve of Britain’s general election, the Bank of England (BoE) quietly announced its data documenting UK debt sales to foreign investors had been overstated by 200 percent for the past eight weeks.

The central bank sent shockwaves through the City of London on Wednesday when it made the admission. Its disclosure, revealed in a formal “notice of errata,” proves a serious embarrassment for the bank.

It also rubbishes figures BoE officials released on May 1, indicating foreign investors had purchased UK debt at a record rate in March.

May 07 09:41

Deutsche Bank's Head Of Global Credit Strategy Explains Why "This Is Not Capitalism"

"... part of the problem today is that over the last 15-20 years, capitalism has been propped up every time it’s about to go through one of the cyclical creative destruction phases. Compounded up that's left us with a big mess to clear up across the globe and a lot of sub optimal resource allocation. So across a lot of the Western World we're left with too much debt, too much inequality, low real wage growth, limited conventional tools to help the economy to de-lever, QE and ZIRP and a political backlash against the mainstream."

May 07 09:40

Did The World's Central Banks Hit The Panic Button This Morning?

If there is one thing more worrisome for the world's central planners than a stock sell-off, it is a bond rout 'proving' that they have lost control. The overnight carnage across global bond markets appears to have triggered someone (or someones) to step in - in dramatic size - to rescue bonds and save the world once again.

May 07 09:34

Denmark moves closer to a cashless society

Denmark has moved one step closer to becoming the world's first cashless society, as the government proposes scrapping the obligation for retailers to accept cash as payment.

The Danish government has said that as of next year, business such as clothing retailers, restaurants and petrol stations should no longer be legally bound to accept cash payments.

May 07 09:14

The Nightmarish Future for American Jobs and Incomes Is Here

What will happen to American jobs, incomes, and wealth a decade from now?

Predictions are hazardous but survivable. In 1991, in my book The Work of Nations, I separated almost all work into three categories, and then predicted what would happen to each of them.

May 07 09:13

Repatriation Of Gold From Fed Suggests Historic Vote Of No Confidence

Since 2012, there’s been an unprecedented call from foreign nations to repatriate their gold from Federal Reserve vaults in the U.S. This is an incredible development given many countries’ 71-year reliance on the Fed as a custodian for their bullion. Over the last few years, countries including, but not limited to, Germany, the Netherlands, France, Belgium, Austria, Poland, Ecuador, Finland, Switzerland, Venezuela, and Romania have either formally requested repatriation of their gold or are in discussions with the Fed about it. Some of these nations, mind you, have held more than 50% of their entire reserves of bullion in the U.S. since 1944, when the Dollar became the world’s reserve currency.

May 07 09:12

Nearly 30 more for-profit college campuses to close

Two for-profit college chains are closing more than a dozen campuses each, the companies announced Wednesday, less than two weeks after Corinthian Colleges initiated the largest college shutdown in U.S. history.

May 07 09:11

Wall Street Titans Who Crashed Global Economy in 2008 Go Big for TPP

As billionaire class and financial elites push corporate-friendly pact, new data shows empty promises and 'job-killing' reality of previous agreements.

Even as millions and millions of Americans—represented by thousands of labor, environmental, family farm, consumer, faith, Internet freedom and other advocacy organizations—continue to stand firmly in opposition to the Trans-Pacific Partnership, those backing the TPP, including President Obama and a large majority of the Republican caucus, still have two dedicated demographic groups pledging their allegiance to the cause and arguing the so-called "free trade agreement (FTA)" would be good for average workers and the economy overall: billionaires and Wall Street titans.

May 07 08:50

The Fed Makes Equities Go Into Cardiac Arrest - Gerald Celente

Veteran trend forecaster Gerald Celente joins Kitco News one day before the release of April’s nonfarm payrolls report to share his thoughts on the U.S. economy. He says that the numbers scheduled to come out on Friday will only cause a temporary move "because here’s the real fact, you still have a labor force participation rate that is at 36-year lows, the jobs that are being created stink.”

May 07 08:38

China To Establish Yuan-Denominated Gold Fix In Bid To Upend London Benchmark

A long time ago, in a financial galaxy far, far away, a “fringe” blog raised the topic of gold market manipulation during the London AM fix. Several years later (which, incidentally, is about average in terms of the lag time between when something is actually going on and when the mainstream financial media finally figures it out and reports on it), it was revealed that in fact, shenanigans were likely afoot and indeed, regulators are still trying to sort out what happened.

May 07 08:27

Ominous signs of problems with new Bay Bridge foundation

Caltrans tests indicate that salt water from the bay may be seeping into the foundation of the new Bay Bridge eastern span’s tower, an ominous prospect that raises questions about the long-term viability of hundreds of massive steel rods that anchor the landmark structure.

May 07 06:36

Greece on the Brink, Again

May 07 06:21

LinkedIn Stock Plunges

Shares plunged as much as 20% in after-hours trading following the company’s announcement that the rest of 2015 isn’t going to be as stellar as it had expected.

May 07 04:56

Potential dangers in U S stock valuations

May 07 04:35

CIA 'MISSION ACCOMPLISHED' IN AFGHANISTAN: AFGHAN POPPY FARMERS SAY NEW SEEDS WILL BOOST OPIUM OUTPUT

It's the cash crop of the Taliban and the scourge of Afghanistan — the country's intractable opium cultivation. This year, many Afghan poppy farmers are expecting a windfall as they get ready to harvest opium from a new variety of poppy seeds said to boost yield of the resin that produces heroin. The plants grow bigger, faster, use less water than seeds they've used before, and give up to double the amount of opium, they say.

May 07 04:32

WALL STREET TITANS WHO CRASHED GLOBAL ECONOMY IN 2008 GO BIG FOR TPP

Even as millions and millions of Americans—represented by thousands of labor, environmental, family farm, consumer, faith, Internet freedom and other advocacy organizations—continue to stand firmly in opposition to the Trans-Pacific Partnership, those backing the TPP, including President Obama and a large majority of the Republican caucus, still have two dedicated demographic groups pledging their allegiance to the cause and arguing the so-called "free trade agreement (FTA)" would be good for average workers and the economy overall: billionaires and Wall Street titans.

May 06 23:42

Don’t Let Chile Become Another Argentina

May 06 17:14

EU unveils plans for global investor court

The EU’s trade chief has unveiled plans to set up a global court to decide on disputes between investors and governments in a bid to defuse one of the main controversies in the ongoing EU-US trade talks. A "concept paper" published on Tuesday (May 5), drafted for trade commissioner Cecilia Malmstrom, stated that the EU should “pursue the creation of one permanent court,” to rule on so-called investor state dispute settlement (ISDS).

May 06 16:06

Ultra-Secrecy Surrounds Barack Obama’s New Global Economic Treaty

Barack Obama is secretly negotiating a global economic treaty which would destroy thousands of American businesses and millions of good paying American jobs. In other words, it would be the final nail in the coffin for America’s economic infrastructure. Obama knows that if the American people actually knew what was in this treaty that they would be screaming mad, so the negotiations are being done in secret. The only people that are allowed to look at the treaty are members of Congress, and even they are being banned from saying anything to the public. American workers are about to be brutally stabbed in the back, and thanks to all of this secrecy and paranoia they won’t even see it coming.

May 06 15:47

John Kerry 'Issuing a Warning' to EU on Russia Sanctions

John Kerry admitted the EU and the US have disagreements by issuing a warning and letting them know that if Europe doesn’t keep the sanctions against Russia “there is going to be something to pay,” Daniel McAdams of the Ron Paul Peace Institute told RT.

May 06 15:19

Janet Yellen Admits: Federal Reserve Has Distorted The Stock And Debt Markets!

May 06 13:12

Experts are warning that the 76 trillion dollar global bond bubble is about to explode

Warren Buffett believes “that bonds are very overvalued“, and a recent survey of fund managers found that 80 percent of them are convinced that bonds have become “badly overvalued“.

May 06 13:01

Nobel Prize Winning Economist Joe Stiglitz Fails Economic History.

My colleague Dan Mitchell and I have long been baffled by the Quixotic efforts of such prominent economists Paul Krugman and Joe Stiglitz to blame economic stagnation in the eurozone on insufficient government spending.

Government spending in the euro countries rose from 45.3% of GDP in 2007 to 49.5% in 2013, according to Eurostat, with particularly huge increases in Greece, France, Italy and Portugal. The table below shows how little austerity there has been in euro public sectors.

Webmaster's Commentary: 

These economists are paid to ignore that 11th marble!

May 06 12:22

Mass Exodus Has Begun – CEO’s Bugging Out! 500+ Retiring CEO’s Another Sign Of Something Ominous To Come?

In a subsequent meet-up Susan Duclos’ late story “Development To The Bunkers: ‘They Know It Is Coming’ – Elite Actively Practicing Bug-Out Scenario,” we have installed the scribd archive underneath that contains the names of more than 500 CEO’s of expansive organizations that have either resigned from their CEO positions in 2015, late 2014 or plan on doing as such inside the following month or thereabouts as we start to see a mass departure from the business world has started.

May 06 11:50

Here’s where your stolen online accounts are sold via PayPal

People looking to buy stolen account credentials no longer need to scavenge through the dark corners of the Internet or pay with digital currencies.

Sellers on the online marketplace PayIvy are selling hacked logins for Netflix, Hulu, Spotify and other websites and are accepting PayPal payments, according to Brian Krebs, who runs a prominent cybersecurity blog. (You can also buy stolen PayPal credentials.) In some cases, the accounts are sold for just $1.

PayIvy did not immediately return a request for comment as to how it is handling merchants who sell stolen accounts, thus turning the platform into a tradepost for criminals.

May 06 11:05

India to sign port deal with Iran, ignoring U.S. warning against haste

India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran.

May 06 10:22

Corporate Kleptocracy: 6,300 Examples Of America's Malignant Malfeasance

I am honored to share a remarkable data base of Corporate Fines and Settlements from the early 1990s to the present compiled by Jon Morse. Here is Jon's description of his project to assemble a comprehensive list of all corporate fines and settlements that can be verified by media reports:

"This spreadsheet is all the corporate fines/settlements I’ve been able to find sourced articles about, mostly in the period from the 1990’s up to today (with a few 80’s and 70’s). This is by far the most comprehensive list of such things online. At least that I could find, because the lack of any decent list is what made me start compiling this list in the first place."

Webmaster's Commentary: 

Corporate crime costs the nation more than ten times what street crimes does, yet the corporate media always focuses on the street criminal, and rarely the corporate one. Charles Keating stole more money through his Lincoln Savings and Loan Association than all the robberies, burglaries, and muggins of that entire year across the entire nation. He made the news primarily because of the attempted intervention on his behalf by the "Keating Five" which included John McCain

May 06 10:17

US Productivity Suffers First Consecutive Quarterly Plunge Since 1993

Well this cannot be good. US output per hour (for the non-farm businesses) - or non-Farm productivity - plunged 1.9% in Q1. This follows a 2.1% slump in Q4 2014 and is the first consecutive quarterly plunge since 1993. This was driven by a 0.2% decline in output as hours worked increased 1.7% with manufacturing productivity suffering a 1.1% drop in Q1 (driven by a 1.2% decline in output).

May 06 09:43

Survey Says: Retirement is a Myth

Upcoming generations, however, are not holding their breath. And that's without even having a working knowledge of the ominous Trans-Pacific Partnership.

So are Americans still envisioning a slice of the pie, thanks to the coaxing of the mainstream media? What do they have to look forward to?

May 06 09:39

Calls to Punish China Grow

Following a year of China’s flagrant and aggressive activities in contested waters, some in Washington are calling for President Obama to cancel China’s invitation to the largest maritime military exercise in the world.

Webmaster's Commentary: 

The CFR was more honest, demanding China be punished for daring to have a stronger currency than the US dollar!

May 06 09:01

‘Bomb train’ derails in North Dakota, explosion forces town evacuation

A train carrying crude oil through Wells County, North Dakota has derailed. At least six rail cars have caught fire, sending thick, black plumes of smoke billowing into the sky. The town of Heimdal and nearby farms have been evacuated.

“The [Federal Railroad Administration] has deployed a ten person investigation team to the site and will be conducting a thorough investigation into the cause of the accident,” Acting Federal Railroad Administrator Sarah Feinberg said in a statement.

May 06 08:52

Chaos – not Victory – is Empire’s Name of the Game

“Once again a country “liberated” by the West is sinking deeper and deeper into chaos.”

This could be anyone of the countries in conflict, where Washington and its Western and Middle Eastern stooges sow war – eternal chaos, misery, death – and submission.

This is precisely the point: The Washington / NATO strategy is not to ‘win’ a war or conflict, but to create ongoing – endless chaos. That’s the way (i) to control people, nations and their resources; (ii) to assure the west is in continuous need for military – troops and equipment – remember more than 50% of the US GDP depends on the military industrial complex, related industries and services; and (iii) finally, a country in disarray or chaos, is broke and needs money – money with hardship conditions, ‘austerity’ money from the notorious IMF, World Bank and other associated nefarious ‘development institutions’ and money lenders; money that equals enslavement, especially with corrupt leaders that do not care for their people.

May 06 08:51

Greece Floats Surcharge On Withdrawals As ECB Considers Cuts To Liquidity Lifeline

Greece is set to introduce a surcharge on withdrawals and financial transactions in an effort to raise cash amid fractious negotiations with creditors. Meanwhile, the ECB is considering measures that will tighten the screws on the country's cash-strapped banking sector.

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