ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 18 12:19

How to Survive When You Can’t Pay Your Bills

Let’s talk about poverty.

I don’t mean the kind you’re talking about when your friends invite you to go shopping or for a night out and you say, “No, I can’t. I’m poor right now.”

I don’t mean the situation when you’d like to get a nicer car but decide you should just stick to the one you have because you don’t have a few thousand for a down payment.

I don’t mean the scene at the grocery store when you decide to get ground beef instead of steak.

I’m talking about when you have already done the weird mismatched meals from your pantry that are made up of cooked rice, stale crackers, and a can of peaches, and you’ve moved on to wondering what on earth you’re going to feed your kids.

Or when you get an eviction notice for non-payment of rent, a shut-off notice for your utilities, and a repo notice for your car and there’s absolutely nothing you can do about any of those notices because there IS NO MONEY.

Aug 18 11:55

No, Bernanke … Defense Spending Does NOT Help the Economy!

War is widely thought to be linked to economic good times. The second world war is often said to have brought the world out of depression, and war has since enhanced its reputation as a spur to economic growth. Some even suggest that capitalism needs wars, that without them, recession would always lurk on the horizon. Today, we know that this is nonsense. The 1990s boom showed that peace is economically far better than war. The Gulf war of 1991 demonstrated that wars can actually be bad for an economy.

Webmaster's Commentary: 

War is good business for the people in the business of war, but overall, it amounts to taking vast sums of tax money and setting it on fire.

Aug 18 11:36

Bitcoin’s Civil War

Aug 18 11:34

Venezuela's currency is now so worthless that people are using it as napkins

An image is going round that sums up just how ridiculous Venezuela's economy has become.

A Reddit user uploaded a picture on Monday of a man using a 2 bolivar note to hold an empanada.

According to Venezuela's official bolivar-dollar exchange rate, the man using his money as a napkin is wasting about $0.31 (£0.20).

But on the black market, the reality is completely different. You can get 676.88 bolivars to the dollar, according to dolartoday.com. That means holding food with a 2 bolivar note costs the holder less than a third of one US cent.

Aug 18 10:38

German farmers claim their products 'devaluation' because of Russian embargo

German agricultural producers have suffered significant damage because of the Russian embargo imposed in response to the EU sanctions.
Joachim Rukwied, President of the German Farmers Union stated today at a special conference in Berlin.
''The prices for agricultural products have dropped in all the industries, and it is especially related to the reduction of export to Russia. Our export to Russia decreased two times,'' Rukwied said.
He also noted, that because of such measures the German farmers experience ''mass devaluation'' of their products.

Aug 18 10:37

President Hollande costs France dear

President Francois Hollande has attained nothing but a significant drop of economic indices for three years of his being in office, according to the French Boulevard Voltaire.
Hollande's actions are reported to have lead to as much as 54 billion euro losses for less than 3 months. ''Our 'brave' President keeps making mistakes in geopolitics, that French taxpayers will be paying for,'' the article says.
It is also noted that France will pay Russia 2 billion euro for not delivering Mistrals, and taking into account that France lost one billion euro not having finished two of the warships, total loss of the country makes up 3 billion euro.
As a result, France also lost a contract worth 48 billion euro on delivering 26 Dassault Rafale fighter aircraft to India. The agreement worth 5.2 billion euro to deliver these fighter jets to Egypt is also under threat of failure.

Aug 18 10:10

S&P 500 capex growth vs sales growth

Aug 18 10:06

Get used to the idea that you will never retire: GAO report shows that half of Americans 55 and older have no retirement savings at all.

Some of you might remember the glossy highly produced advertisements back in the early 1980s when Wall Street decided it was time to turn American retirement plans into casinos. The slow and agonizing death of the pension plan was supposed to be replaced by the beautiful and wonderful world of the 401(k) plan. Save for 30 years and in the end, you will be a millionaire just like your friends on Wall Street that sincerely care about your financial future. Of course since then, we have found out about junk bond scandals, mutual fund fees that make loan sharks look conservative, and of course the financial shenanigans of giving people toxic mortgages that were essentially ticking time bombs of destruction. This was the industry that was put in charge of helping you plan for your future. We are now a generation out from those slick ads and the results have been disastrous for most Americans.

Webmaster's Commentary: 

"Our new policy is 'work them until they drop!' So we can loot what is left in the Social Security trust fund." -- Official White Horse Souse

Aug 18 09:33

FLASHBACK - The New McCarthyism

Of course, what was really involved was money. War is good for business. Business had been great during WW2 and the newly created "Cold War" was just a way to keep business good. The Military Industrial Complex NEEDED Hollywood to demonize the Soviets. Otherwise, too many people were going to ask why we were being told to be so afraid of them, and few in the government had a really convincing answer for that question. So, in order to perpetuate the Cold War, those in Hollywood who might sympathize with the designated villains had to be removed; their ruined lives a small price to pay for unending access to the taxpayers' wallets.

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Aug 18 09:29

23 NATIONS AROUND THE WORLD WHERE STOCK MARKET CRASHES ARE ALREADY HAPPENING

You can stop waiting for a global financial crisis to happen. The truth is that one is happening right now. All over the world, stock markets are already crashing. Most of these stock market crashes are occurring in nations that are known as “emerging markets”. In recent years, developing countries in Asia, South America and Africa loaded up on lots of cheap loans that were denominated in U.S. dollars. But now that the U.S. dollar has been surging, those borrowers are finding that it takes much more of their own local currencies to service those loans. At the same time, prices are crashing for many of the commodities that those countries export. The exact same kind of double whammy caused the Latin American debt crisis of the 1980s and the Asian financial crisis of the 1990s.

Aug 18 08:56

Oil Supply-Demand Suggests Pain Not Over Yet

Aug 18 08:15

What the Latest Currency ‘War’ is All About

When the US embarks on perennial quantitative easing, that’s OK. When the EU does QE as well, that’s OK. But when the Bank of China decides it’s in the best interest of the nation to let the yuan go down a bit instead of infinitely up, that’s Armageddon.

An internationalized yuan established as a global reserve currency implies a "market-determined" exchange rate policy.

It took the Bank of China to devaluate the yuan on two consecutive days — moving within the 2 percent band that it’s allowed to — for the proverbial global financial banshees to go completely bonkers.

Forget the hysteria. The heart of the matter is that Beijing has stepped on the gas in a quite complex long game; to liberalize the yuan exchange rate; allow it to free float against the US dollar; and establish the yuan as a global reserve currency.

Aug 18 08:11

The Social Costs of Capitalism

The public subsidies provided to miners, loggers, and ranchers are as extravagant and as harmful to the public interest as the subsidies that the Federal Reserve and Treasury provide to the "banks too big to fail."

Few, if any, corporations absorb the full cost of their operations. Corporations shove many of their costs onto the environment, the public sector, and distant third parties.

Economists call these costs “external costs” or “social costs.” The mine made its profits by creating pollutants, the cost of which is borne by those who had no share in the profits.

Aug 18 08:01

Doomsday clock for global market crash strikes one minute to midnight as central banks lose control

China currency devaluation signals endgame leaving equity markets free to collapse under the weight of impossible expectations

Webmaster's Commentary: 

Aug 18 07:15

Crimes Against Humanity: .01% poverty-murder over 400 million people since 1995, more than all wars in recorded history

*hyperlinks/video live at source*

“Crimes against humanity” include any of the following acts committed as part of a widespread or systematic attack directed against any civilian population, with knowledge of the attack:
murder;
extermination;
enslavement;…
the crime of apartheid;
other inhumane acts of a similar character intentionally causing great suffering or serious bodily or mental injury.
– International Criminal Court (ICC)

The United Nations Children’s Fund (UNICEF) (1), the hunger-ending organizations RESULTS (2), and Bread for the World (3) estimate that 15 million people die each year from preventable poverty, of whom 11 million are children under the age of five. Jeffrey Sachs says the total deaths are closer to 8 million (4). Either way, poverty causes more human destruction every year than those claimed in the Holocaust.

Aug 18 07:11

23 Nations Around The World Where Stock Market Crashes Are Already Happening

You can stop waiting for a global financial crisis to happen. The truth is that one is happening right now. All over the world, stock markets are already crashing. Most of these stock market crashes are occurring in nations that are known as “emerging markets”.

Aug 18 06:52

“Enduring appeal of cold, hard cash”: Facing crisis, demand for physical, not digital, money

The cashless control grid may still be coming, but it is not going to replace cash anytime soon.

Though millions of people have started using digital devices to pay for goods and services, the appeal of physical cash is soaring, not fading away.

Aug 18 05:17

Chinese stock market plunges more than 6%

Aug 17 20:23

9-minute video: All Orwellian pieces of Earth’s bizarre jigsaw puzzle match what ‘Big Picture’?

*hyperlinks/video live at source*

hat tips: David Icke, jay4louise2

“By means of ever more effective methods of mind-manipulation, the democracies will change their nature; the quaint old forms -- elections, parliaments, Supreme Courts and all the rest -- will remain. The underlying substance will be a new kind of non-violent totalitarianism. All the traditional names, all the hallowed slogans will remain exactly what they were in the good old days. Democracy and freedom will be the theme of every broadcast and editorial. Meanwhile the ruling oligarchy and its highly trained elite of soldiers, policemen, thought-manufacturers and mind-manipulators will quietly run the show as they see fit.” - Aldous Huxley, Brave New World Revisited (1958), Section XII

9-minute artistic video of the .01% criminal agenda centering in war, money, and lies; with required distraction of the public to keep their crimes and lies unrecognized:

https://www.youtube.com/watch?t=301&v=xNcw4oTP_c4

Aug 17 14:02

Hedge Fund Billionaire Bets It All On Gold

Aug 17 13:38

Producer Profits on Crude Oil Decline

While lower gas prices are a positive for many people, producers of crude oil are not happy because of the decline in their profits.

Aug 17 13:32

The Clintons Earned $28 Million Last Year

Presidential candidate Hillary Clinton recently release financial information about her and her husband’s, former President Bill Clinton, earnings last year.

Aug 17 13:31

Interim CEO at Toshiba Takes 90% Pay Cut

Amid the accounting scandal at Toshiba, the new interim CEO, Masashi Muromachi, will take a 90% pay cut.

Aug 17 13:31

Clinton Aide’s Reminder: Media Has No “Undo” Button

In a recent interview, presidential candidate Hillary Clinton’s campaign aide, Jennifer Palmieri, gave a reminder that once something is published in today’s media, there’s no “undo” button.

Aug 17 12:53

US Steel Permanently Closing Alabama Plant

Aug 17 12:46

Bass Pro To Lay Off 500 Employees Company-Wide

Aug 17 12:02

The Dollar of mass destruction

The era of the super soft monetary policy of the USA will end this year. Wednesday, July 29, the FED did not raise rates, but hints that it will happen in the coming months, probably in September became even more defined. Among the consequences of a possible collapse in commodity markets, the problems of developing economies.

Aug 17 11:59

China has warned about the volatility of the yuan

Central Bank of China issued a statement, which warned investors that the yuan in the near future will experience fluctuations both in one and in the other direction. However, as stated, the government does not intend to engage in currency wars, and to intervene in the market only in exceptional cases.

Aug 17 11:33

Away From Dollar: Russia, China to Create Entirely Different Gold Market

While key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China and other emerging economies are involved in "the genial move" to establish an entirely different gold market, F. William Engdahl underscores.

Webmaster's Commentary: 

Aug 17 09:56

Donald Trumps Advocates Sending Ground Troops to Fight the Islamic State

Candidate says U.S. needs to take Iraq’s oil.

Trump said Iraq’s oil fields should be seized to prevent ISIS from profiting.

It is estimated ISIS controls around 10% of the country’s oil rigs and sells the stolen oil at lower than market prices on an international black market.

Trump said the Iraqis should be given “something” from their oil fields and added “we should definitely take back money for our soldiers” wounded in the invasion of Iraq.

Aug 17 09:16

German Company Set to Take Over Operations of 14 Greek Airports

Following the finalization of the third Greek bailout, privatizations and operation takeovers of Greek public assets are expected to recommence.

Greek newspaper “Kathimerini” reported that German Fraport AG and Slentel Ltd will soon complete the takeover of the operation of 14 Greek airports.

The agreement with the Greek state had been signed back in November 2014 under the previous Greek government. However the deal is yet to be finalized.

Aug 17 09:13

The Worst Thing Tricky Dick Ever Did: How Nixon and the British Destroyed the Best Monetary System the World Has Ever Had, Forty-Four Years Ago this Weekend

This weekend marks the forty-fourth anniversary of the deliberate destruction of the highly successful Bretton Woods System by Richard Nixon at Camp David, Maryland on August 15, 1971 – in many ways the worst thing Tricky Dick ever did. Since then, we have lived in the era of floating rates for currencies – a synonym for chaos, in which nobody knows what money will be worth a few weeks or months into the future. This has slowed the growth of world trade, which must be financed one, two, or three months ahead at minimum. The lack of fixed parities among the main world currencies has added crippling currency risk, providing a pretext for toxic derivatives as a way to deal with this risk. The euro crisis is also a spin-off of the Bretton Woods collapse, since a currency union is another way to remove currency risk. The Greek-centered euro crisis and recent competitive devaluations by Japan and China have once again focused world attention on the dangers of currency chaos.

Webmaster's Commentary: 

To be fair, Nixon's hand was forced because the Federal Reserve violated the original Bretton-Woods agreement by over-printing dollars well past the US' ability to redeem those dollars for gold at $35 per ounce.

Aug 17 09:11

John McCain Confronted by Oak Flat Protesters and Chased Off Navajo Nation

Republican U.S. Senator John McCain did not exactly receive a warm welcome when he visited the Navajo Nation this weekend to commemorate the Navajo Code Talkers. Throughout the day, he was confronted by activists chanting: “Water is life!” in the Navajo language and waving banners painted with messages stating: “McCain = Indian Killer” and “McCain’s not welcome here.”

Though McCain’s visit to the capital city of Window Rock ostensibly had nothing to do with environmental politics, he was met repeatedly by young activists concerned about their future supply of water and other hot topics like copper mining in Oak Flat.

Aug 17 08:50

Million American Jobs Project

Webmaster's Commentary: 

It sounds like a good idea, until you remember that the US Government is banning country-of-origin labels on food, and could easily be bribed into doing the same for products! Remember, under fascism, the goal is that the people have no choice at all what they buy and who they buy it from!

Aug 17 08:28

Danger Zone if Tech stocks slip here!

Aug 17 08:25

Yet Another Bearish Sign For Gold: Venezuela

Aug 16 17:02

Wholesale Silver Shortage…CONFIRMED

Aug 16 16:46

Money Demystified | Dr. Malavika Nair

Aug 16 16:33

Staff in tears, regular sackings and a button to make sure you don't waste time in the loo: What some workers say it's like to work for Amazon

It's the world’s biggest online retailer which prides itself on stocking everything you could possibly desire.

But behind Amazon’s success lies something far uglier, if the latest investigation into its working practices is to be believed.

From employees crying at their desks to annual staff culls designed to foster a culture of fear, merciless conditions at the company have been described by more than 100 workers.

Bosses are said to push staff so far past breaking point that they ‘practically combust’, while regular sackings to keep workers on their toes were described by one HR manager as ‘purposeful Darwinism’.

According to the expose, the company’s best workers are known as ‘Amabots’ – because they are so ‘at one with the system’ they are almost cyborgs.

Aug 16 16:31

Doughnuts and pizzas on the NHS: £116million of gluten-free junk food was handed out in prescriptions in the past year

The NHS is handing out tens of thousands of prescriptions every year for custard creams, doughnuts and pizzas.

Other calorie-rich treats issued to patients on special diets include Italian-style biscotti, cake bars and muffin mixes.

The Health Service spent almost £116million last year on gluten-free products and other foods – twice as much as a decade ago.

The extraordinary figure does not cover manufacturers’ sky-high handling fees, which can reach £40 a time.

NHS rules for prescribing food vary by area, but in general only coeliac disease patients can get gluten-free products.

The huge sums being spent on food come amid an obesity crisis and at a time when the health budget is hugely stretched.

Aug 16 16:21

Austerity - Elite Terrorism Against Ordinary People

The purpose of austerity is to create insecurity and instill fear in the general population in order to protect the finance and banking sector from popular rage against the crimes the participants of this sector have committed against ordinary people. This rage ought to have given rise a long time ago to legal actions and desperately needed fundamental reforms to take away from bankers the right to create money, a right which they have abused at tremendous cost to ordinary people. Instead of collective reforms, what we are being subjected to is a policy of deliberately spreading insecurity together with the scapegoating of vulnerable people.

Aug 16 15:16

Ohio's Legal Weed Proposal Could Create the World’s First 'Pot Grower Oligarchy'

Ohio voters will have the opportunity to legalize the commercial cultivation and sale of cannabis this November, including for medical marijuana patients and recreational consumers. A constitutional amendment that officially qualified for the ballot this week would allow adults 21 and over in the state to grow four plants and possess eight ounces of marijuana at home. But the measure is controversial within the pro-marijuana legalization community, and has even united some pot activists and conservative Republicans in opposition.

Aug 16 15:05

Privately run Nashville jail forced inmates work without pay building bean-bag "cornhole" games, plaques shaped like footballs, birdhouses and dog beds

Former inmates at a privately run Nashville jail say they worked without pay building bean-bag "cornhole" games, plaques shaped like footballs, birdhouses and dog beds so that officials could sell them through their personal business at a flea market. "Inmates can legally be required to work without pay, in some circumstances, but jail employees are not supposed to profit from their labor. But former inmates Larry Stephney and Charles Brew say that is what happened with Stand Firm Designs, run by two jail employees and one former employee, according to their business card.

Aug 16 13:18

BIG NAMES Warning of BIG COLLAPSE

Aug 16 13:04

Peace and the ideology of greed and division

Graham Peebles argues that conflict and war, and the infrastructure servicing these – the military-industrial complex and the arms trade – are deeply ingrained in the currently dominant paradigm: neo-liberalism and market fundamentalism.

Aug 16 12:31

SEC Admits It’s Not Monitoring Stock Buybacks to Prevent Market Manipulation

The Securities and Exchange Commission has admitted that it has no ability to enforce the main rule intended to prevent market manipulation when companies buy back their own stock, and has no intention to do so.

Webmaster's Commentary: 

"Look; they are making money! What difference does it make how they do it?" -- Securities "Who is Bernie Madoff" & Exchange Commission

Aug 16 11:37

New Mexico Dying From 109,000 Job Cuts

Aug 16 10:06

PHOTO ESSAY ~~ PUERTO RICO (LIKE PALESTINE AND GREECE) IS NOT FOR SALE!

On August 13th scores of people gathered to protest vulture Hedge fund investors buying up the Puerto Rican debt crisis which will result in austerity measures to pay the debt. The militant slogan is “PUERTO IS NOT FOR SALE”.

These are the slime that buy up defaulted debts for a few cents on the dollar and then turn around and try to collect the full debt from the people. This has become a common practice. PR is in the same economic condition as Greece but their situation largely comes from being colonials.

Aug 16 09:05

The Top Four US Department Stores Are Imploding

Aug 16 03:48

After Contentious All-Nighter, Greece Bailout Approval Spurs Rebellion

In a development spurring calls for a new "anti-bailout movement," the Greek Parliament early Friday approved a controversial €85 billion financial rescue package—the country's third such bailout from foreign creditors in five years, and one that will require the Greek people to endure further cuts and austerity.

Aug 16 03:40

Ukraine Already in Default – Ex-Minister

Ukrainian authorities are trying to restructure the state debt, which means that Ukraine’s default is already happening, ex-finance minister Viktor Pynzennik admitted on Saturday.

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