ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 11 15:25

Stock Options Hedging Reaches 6-Year High

Aug 11 14:32

The US Economy Continues Its Collapse

The so-called recovery is based on the U.3 measure of the unemployment rate. This measure does not include any unemployed person who has become discouraged from the inability to find a job and has not looked for a job in four weeks. The U.3 measure of unemployment only includes the still hopeful who think they will find a job.

The government has a second official measure of unemployment, U.6. This measure, seldom reported, includes among the unemployed those who have been discouraged for less than one year. This official measure is double the 5.3% U.3 measure. What does it mean that the unemployment rate is over 10% after six years of alleged economic recovery?

Aug 11 14:32

Bankster Prosecutions Plunged After Bush’s Presidency

U.S. President Barack Obama has followed through on the secret promise he made in the White House, on 27 March 2009, to Wall Street’s CEOs, and that was finally made public in full only when Ron Suskind’s Confidence Men was issued in 2011. The phrase “My administration is the only thing between you and the pitchforks” had earlier leaked out from the private meeting, but Obama’s promise to them had not been:

Aug 11 14:31

DAILY JOB CUTS

Aug 11 14:29

FLASHBACK - ALL WARS ARE BANKERS' WARS!

"The bank hath benefit of interest on all moneys which it creates out of nothing." -- William Paterson, founder of the Bank of England in 1694

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Aug 11 14:25

Chicago laying off 500 teachers

It won't be "back to school" for hundreds of Chicago teachers who are getting layoff notices this week.

The Chicago Public School system is laying off nearly 500 teachers and just over 1,000 support staff as it responds to a budget crisis it says is caused by increasing pension costs and declining state aid.

Aug 11 13:32

We're In For A Bumpy Ride ...

Aug 11 12:50

Silver Stackers Quickest To Adapt

Aug 11 12:37

US firms are obliged to disclose the pay ratio of the head and staff

According to the US economic policy Institute, salary of Executive Directors of the 350 largest U.S. companies increased by 997% in the period from 1987 to 2014, while the salary of regular employees increased by only 10.9%.
The Commission on securities and stock exchanges of the USA (SEC) approved final rules that require public companies to disclose the ratio of compensation of chief Executive officer and the average wage of employees, the message SEC.
The company will have to start the publication of this indicator in 2017. In addition the Department notes that the new regulations required by Dodd-Frank on financial regulation, provides companies with flexibility in the ratio of wages.

Aug 11 11:53

The Eugenics Plot Behind The Minimum Wage

Aug 11 11:41

Insider trading ring netted $100 mil by hacking press releases - feds

Federal prosecutors have charged nine people in an insider trading ring that lifted information from corporate press releases before they were made public. The Securities and Exchange Commission said related illegal trading netted more than $100 million.

Aug 11 11:22

Govt. accused of ‘shortchanging’ taxpayer

The British government has faced a barrage of criticism for selling off shares in Royal Bank of Scotland.

Aug 11 10:41

Greek Dockworkers Against the Troika

Dockworker and Union Leader, Giorgos Gogos, who is also a member of the Central Committee of SYRIZA says the workers are very ready for the struggle against privatization and austerity in the Memorandum

Aug 11 09:52

Hillary Clinton cracks down on for-profit colleges after cashing in

When Hillary Rodham Clinton, the 2016 presidential candidate, unveiled her college affordability plan on Monday, she sounded every bit the critic of for-profit universities. But Mrs. Clinton, the spouse, benefited to the tune of millions of dollars from that same industry in a business relationship her husband enjoyed as recently as this spring.

Former President Bill Clinton collected more than $16 million from 2010 to 2014 as honorary chancellor of Laureate Education, a for-profit company that runs 80 education institutions around the globe, according to recently released tax returns. Four of its six U.S. colleges were flagged on the Education Department’s list of schools whose access to federal financial aid was being monitored out of concern over financial irresponsibility.

Aug 11 09:34

Inside The Swiss Franc LIBOR Rate Rigging Chatroom: 6 Years Of Manipulation

Now, courtesy of the appendix attached to the latest LIBOR-related suit brought against Wall Street (and one hedge fund), we bring you six years of Swiss franc LIBOR manipulation presented in chronological order. Highlights here include:

"It is our natural right to reflect our interest in the libor fixing process"

"Can't you ask your fft to contribute 1m chf libor very low today? I have 10yr of fix, 8 of which against ubs and they're getting on my nerves."

"yes, ok mate, I am heading out for a run, enjoy, talk tom, get those fixings down"

"whoooooohooooooo 0.01%? that'd be awesome"

Aug 11 09:33

German Violations of Eurozone Rules Initiated Euro Crises – German Media

The chief analyst of Baader Bank Robert Halver said that the basic problem in the Eurozone is the constant violation of stability rules. Five years in a row, Germany was among those countries violating those rules, but has not yet received any punishment, DWN reported.

Aug 11 09:33

The Business of War is the Cause of War

Who benefits from war?

Certainly not the people on the warring sides. People always suffer in war; their futures ruined and their lives destroyed. In fear, they look to their government to protect them, the very same government that is invested in war. War is a dirty business that profits off death and destruction while generating blood money for the profiteers. The people are told to look the other way, outside of their country – where the ‘enemy’ supposedly resides.

But what if the real enemy is inside the country, and wears expensive suits, not turbans? What if he speaks your language while living in luxury and sending his children to study at Princeton, Yale and Harvard? While your kids are sent off to fight in fraudulent wars for corporate interests masquerading as ‘patriotism’.

Aug 11 08:49

Puerto Rico defaults for first time, repays Wall Street hedge funds instead of debts that affect the poor

The government chose to prioritize other creditors over PFC because that institution is largely owned by local credit unions and will affect poor Puerto Rican citizens with little legal recourse. Much of the debt that was repaid was held by Wall Street hedge funds.

Aug 11 08:32

AT&T Announces New TV and Phone Bundle

After acquiring TV giant, DirecTV, AT&T announced a new TV and phone bundle pack for customers.

Aug 11 08:32

Minimum Wage Debate Continues

The debate over raising minimum wage in the United States continues.

Aug 11 08:31

Asian Stocks Affected by Weak China Manufacturing

Two surveys showed that manufacturing in China was down in July. But despite this European stocks mostly rose.

Aug 11 08:31

Many Millennials Who Have Jobs Still Live at Home

Living at home with mom and dad after landing a job might not sound ideal for you, but many millennials are in no rush to move out on their own – even if they have a job.

Aug 11 08:13

Germany made €100bn profit on Greek crisis – study

Greece’s biggest creditor Germany has made a huge profit on the country’s debt crisis over the last 5 years as it saved through lower interest payments on funds borrowed amid investor "flights to safety."

Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on German government bonds falling, according to the study from the private, non-profit Leibniz Institute of Economic Research, Agence France-Presse reported Monday.

The estimated €100 billion Germany had saved since 2010 accounted for over three percent of its GDP, the report said.

"These savings exceed the costs of the crisis - even if Greece were to default on its entire debt," the study said.

The bonds of countries such as the United States, France and the Netherlands had benefited "to a much smaller extent."

Aug 11 07:53

China stages biggest currency devaluation in 20 yrs to revive exports

The central bank of China has cut its daily reference rate by 1.9 percent, making its biggest downward adjustment since 1994. The People’s Bank insists Tuesday’s measures are a one-off aimed at reviving faltering exports.

The bank’s announcement prompted the yuan exchange rate to tumble against the US dollar. As of 8:15am GMT on Tuesday, the yuan (renminbi) was trading at 6.33 to the dollar, 1.9 percent lower than Monday.

Aug 11 06:21

Stop Financializing the Human Experience

Aug 11 05:55

Investors are running away from U.S. stocks

They're abandoning the United States and flocking to Europe and Japan in search of better places for their money to grow.

Aug 10 21:21

Don’t Be Fooled by the Political Game: The Illusion of Freedom in America

snip: “We the people” now belong to a permanent underclass in America. It doesn’t matter what you call us—chattel, slaves, worker bees, drones, it’s all the same—what matters is that we are expected to march in lockstep with and submit to the will of the state in all matters, public and private. Through our complicity in matters large and small, we have allowed an out-of-control corporate-state apparatus to take over every element of American society.

Aug 10 19:59

This Wasn't Supposed To Happen: Household Spending Expectations Crash

For the past 8 years, the US consumer has dutifully spent, spent and then spent some more. This all came to a screeching halt earlier today when courtesy of the latest New York Fed Survey of Consumer Expectations, we learned that the US consumer has finally tapped out. Households reported that they expected to increase their spending by just 3.5% in the next year, a major drop from the 4.3% the month before. This was the lowest reading in series history.

Aug 10 19:54

The Rent is Too Da*n High – San Fran Residents Pay $1,000 a Month to Live in Shipping Containers

There’s nothing quite like a grotesquely lopsided “economic recovery” in which a handful of cities boom, while the rest of the nation stagnates. Even worse, millennials living in such chosen cities face one of two options. Either live in mom and dad’s basement, or face a standard of living far more similar to 19th tenement standards than the late 1990’s tech boom.

With that out of the way, I want to introduce you to what a $1,000 per month rental in the San Francisco Bay area looks like. Shipping containers.

Aug 10 16:21

World’s Secret Shadow Government: Conspiracy Theory or Frighteningly Real?

Conspiracy theories — hypotheses claiming that historical events could have occurred due to the nefarious actions by hidden parties — still remain largely neglected by researchers and considered as implausible and irrelevant.

On the other hand, conspiracy theories usually attract a lot of attention from a wide array of people, prompting heated debate on issues ranging from the world's shadow government to the chances of an alien invasion taking place. While most researchers do not take these theories seriously, some scholars insist that they do deserve attention.

Aug 10 12:13

Germany made €100bn profit on Greek crisis – study

Greece’s biggest creditor Germany has made a huge profit on the country’s debt crisis over the last 5 years as it saved through lower interest payments on funds borrowed amid investor "flights to safety."

Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on German government bonds falling, according to the study from the private, non-profit Leibniz Institute of Economic Research, Agence France-Presse reported Monday.

Aug 10 11:36

Mortgagee sales jump as economy starts to come off boil

The number of mortgagee sales has jumped nationwide in the past quarter as worsening economic conditions and lower dairy payouts hit parts of provincial New Zealand.

But as the nation's "rock star" economy comes off the boil, experts are warning of more foreclosures outside Auckland's surging property market as financially strapped homeowners in regional New Zealand start defaulting on their mortgages.

"People lose interest in their properties, they lose interest in their lives and the bank senses that, and that's when you have distressed sales," Harcourts agent and mortgagee specialist David Savery said.

Nearly 150 people lost their homes in distressed sales in the three months to June 30, compared with just 95 in the first quarter - a jump of more than 50 per cent - CoreLogic figures provided exclusively to the Herald show.

Aug 10 10:49

Dollar Death Sentence

Rather than stimulus, the USFed’s Quantitative Easing is a death sentence for the USDollar. It might provide an ongoing backdoor bailout opportunity for Wall Street banks, and even a window for China to switch from long dated to short dated USTreasurys, but QE is death sentence. It guarantees that the USDollar will be removed from the global premises and placed in the dustbin of history. Foreign banking systems are largely devoted to USTBonds as the foundation for their entire reserves system. The African type of hyper monetary inflation blessed as good and fine stimulus is a sentinel signal by the US Federal Reserve itself, given to the Eastern producing nations who save in the $billions. They will start a caravan to exit the USDollar in their banking systems. They have great challenges in doing so, and must follow a prescribed path. That path is the Chinese RMB as an intermediary device, a transition tool.

Aug 10 10:22

Greece – A Dramatic Appeal by Mikis Theodorakis

The signatories are calling “all the peoples of the world, to realize that the struggle of the Greek people is also their struggle”.

Friends of Greece,

On 3 August 2015, MikisTheodorakis, the Greek world famous music composer and Resistance figure, called upon the Greek people – and the peoples of the world – to respect Democracy – the very Democracy, born in Greece some 2500 years ago and given to the world as a set of values for respect for each other, for humanity – for equal rights and for free expression.

The following text summarizes MikisTheodorakis’ appeal to stop the Syriza Government from selling out the Greek people’s country and stop the currently – almost in secret – ongoing negotiations with the troika on the modalities of the € 86 billion loan and the details of the new austerity measures – “negotiations” to be concluded by about 20 August 2015.

Aug 10 10:01

China About To Make History — Again

Aug 10 09:42

“Smart Money” Ready To Bet On Gold?

Aug 10 09:39

The US Economy Continues Its Collapse (By Paul Craig Roberts)

Do you remember when real reporters existed? Those were the days before the Clinton regime concentrated the media into a few hands and turned the media into a Ministry of Propaganda, a tool of Big Brother. The false reality in which Americans live extends into economic life. Last Friday's employment report was a continuation of a long string of bad news spun into good news. The media repeats two numbers as if they mean something-the monthly payroll jobs gains and the unemployment rate-and ignores the numbers that show the continuing multi-year decline in employment opportunities while the economy is allegedly recovering.

Aug 10 08:25

FLASHBACK SEPTEMPER 10TH, 2001 - Pentagon Missing Trillions

"'According to some estimates we cannot track $2.3 trillion in transactions,' Rumsfeld admitted. $2.3 trillion – that's $8,000 for every man, woman and child in America."
-- CBS, 1/29/02

Aug 10 07:49

Tesla Loses $4,000 On Every Car Sold

Aug 10 07:22

Gerald Celente is predicting that a stock market crash will happen by the end of 2015

Gerald Celente of the Trends Research Institute has just gone on the record with a prediction that there will be a stock market crash by the end of this calendar year.

If you are not familiar with Gerald Celente, he is one of the most highly respected trends forecasters in the entire world. He has been featured on CNN, The Oprah Winfrey Show, The Today Show, Good Morning America, CBS Morning News, NBC Nightly News and Coast to Coast AM.

Aug 10 07:15

Climate change: the Hoax that Costs Us $4 Billion a Day

The global climate change industry is worth an annual $1.5 trillion, according to Climate Change Business Journal. That’s the equivalent of $4 billion a day spent on vital stuff like carbon trading, biofuels, and wind turbines. Or — as Jo Nova notes — it’s the same amount the world spends every year on online shopping.

But there’s a subtle difference between these two industries — the global warming one and the online shopping one. Can you guess what it is?

Aug 10 05:35

Gerald Celente Is Predicting That A Stock Market Crash Will Happen By The End Of 2015, Crashes Are Coming Not Only To U.S. Stocks, But Also The DAX, The FTSE, The CAC, Shanghai, And The Nikkei

Gerald Celente of the Trends Research Institute has just gone on the record with a prediction that there will be a stock market crash by the end of this calendar year. If you are not familiar with Gerald Celente, he is one of the most highly respected trends forecasters in the entire world. He has been featured on CNN, The Oprah Winfrey Show, The Today Show, Good Morning America, CBS Morning News, NBC Nightly News and Coast to Coast AM.

Aug 10 00:13

Don’t Worry Warring Nations: The Bankers Have Our Backs

The erasure of national sovereignty leads, not to Shangri-La as some would have us believe, but to a supranational consolidated ‘sovereignty’ presided over by banking interests, which is no sovereignty at all. On the contrary, it’s the Town Hall of the Panopticon. Greece is not some idiot uncle who simply needs a loan to get back in the fold. That’s a tragic misread. Greece is the canary in our mine-shaft, loss-leader on the road to global debt servitude. As goes Greece so too will go the world in due course. Others wait in the wings: Puerto Rico, Italy, Portugal, the US. From the back of the cave, distant miners are easily mistaken for canaries.

Aug 09 23:22

US-NATO Military Deployments, Economic Warfare, Goldman Sachs and the Next Financial Meltdown - Is There a Relationship?

What is the relationship between war in a military theater and “economic warfare”?

An act of war is invariably an economic undertaking which supports dominant corporate interests. The conduct of US-NATO military operations is carried out on behalf of powerful financial institutions.

US led wars in the Middle East under the humanitarian mantle of the “global war on terrorism” largely serve the interests of Wall Street, the Anglo-american oil conglomerates, the so-called ‘defense contractors”, the biotech conglomerates (Monsanto et al), Big Pharma and the corporate media.

Aug 09 18:28

China approves usage of ruble instead of US dollar for border city

China's central bank has put the Russian ruble into circulation in Suifenhe City, Heilongjiang Province, launching a pilot two-currency (ruble and yuan) program. The ruble is being introduced in the place of US dollar.

The announcement was made on Saturday by Jin Mei, deputy secretary for monetary policy at the opening ceremony of a trade exposition in Suifenhe, reported state-run Xinhua news agency.

The newly-adopted initiative is to promote bilateral trade relations and boost tourism, enabling Russians traveling to the Chinese region to pay for their expenses directly in rubles.

Aug 09 17:27

Tesla still burning cash: each car loses $4,000

Aug 09 15:57

WTF! TOP Seven countries near bankruptcy!

Aug 09 15:21

The Great Unwind Has Begun, Bankruptcies Soar

Aug 09 15:04

$450,000 debt wiped for hard-up water consumers

More than $450,000 of hardship relief in water bills has been granted in the three years since radical changes to the way Aucklanders pay for water.

A trust set up by Watercare Services, before the introduction of monthly billing and controversial volumetric charges for wastewater, has written off debt for 403 households with a further 35 pending.

They completed an application process which involves household budget advisers and trust members reviewing personal finances.

Agreement to a payment arrangement may lead to some of the debt being wiped.

"They are awesome," said Otahuhu Home Budgeting Service manager Lesley Matia.

"We have a lot of applications and nine times out of 10 they waive the debt."

Aug 09 12:51

Greece – A Dramatic Appeal by Mikis Theodorakis

MikisTheodorakis, the Greek world famous music composer and Resistance figure, called upon the Greek people – and the peoples of the world – to respect Democracy – the very Democracy, born in Greece some 2500 years ago and given to the world as a set of values for respect for each other, for humanity – for equal rights and for free expression.

He referred in particular to the Greek referendum in which the Greek people on 5 July 2015 voted with an overwhelming 61% against the continuation of the economic and financial strangulation of Greece by the infamous troika – the European Central Bank (ECB), the European Commission (EC) and the International Monetary Fund (IMF).

Aug 09 12:46

A Cold Summer for Europe

In the whole modern history of Europe, there was not such a shameful surrender, or even treason. ‘Alexis Tsipras’ is a Greek translation of ‘Vidkun Quisling’ or of ‘Maréchal Pétain’.

After the Syriza debacle of Greece, there is a very little trust for left-wing rhetoric. In the whole modern history of Europe, there was not such a shameful surrender, or even treason. ‘Alexis Tsipras’ is a Greek translation of ‘Vidkun Quisling’ or of ‘Maréchal Pétain’. The man received the full support of his people, and chickened out. (The first step of Syriza after the fiasco was to enter into military cooperation with Israel.) Now only the far-right Golden Dawn speaks loudly against surrender to the bankers, but this is a party in opposition, and it risks nothing by speaking out.

Aug 09 11:20

60 trillion dollars of global debt in the 1 picture

75% of global debt are the US, Japan and Europe.

Aug 09 11:18

Saudi Arabia may lose a price war with America

If the oil futures market correctly predicts the future, then Saudi Arabia might be in big trouble for two years. And by the end of the decade it will grow into an existential crisis.
Saudi Arabia took a huge bet in November last year when it led OPEC refused to cut production quotas. Here, the Kingdom decided to flood the market with oil and displace competitors, increasing its market share. Production increased to 10.6 million barrels a day.
And now OPEC is faced with a shortage of money. The cartel may even close down their offices in Vienna to spare, writes "News Economy".
If the goal really was that to destroy the shale industry in the U.S., the Saudis could be underestimated the growing threat.

Aug 09 10:26

The Dow Has Already Fallen Nearly 900 Points From The Peak Of The Market

In an eerie repeat of what we witnessed in 2008, U.S. stocks are steadily sliding throughout the summer as we head toward the month of September. From August 1st, 2008 to September 1st, 2008 the Dow fell by nearly 700 points. And of course we all remember what happened the following month. Right now, we are watching a similar thing happen. The Dow has plummeted nearly 700 points since July 16th, and it is down nearly 900 points from the peak of the market back in May. At this point the Dow has now fallen for six days in a row and eleven of the last thirteen. Of course most of the talking heads on television are still insisting that everything is going to be just fine and that a repeat of 2008 is not possible. So what do you think? Should we trust them?

Aug 09 10:19

4 Tricks for Getting Your Hospital Bill Reduced

Nearly one in three Americans received a surprise medical bill over the past two years for hospital procedures and healthcare services they believed their insurance policy would cover.

That’s the key finding of a new national survey by Consumer Reports that also found most Americans are so confused about their rights to contest an unexpected health bill that more than half (57 percent) simply pay the bill in full.

“For years we have heard horror stories from consumers hit with surprise medical bills following routine and emergency procedures,” said DeAnn Friedholm, director of the policy and advocacy arm of Consumer Reports.

“Even if you go to a hospital in your network, the unfortunate truth is that there is no guarantee that all your treatment — whether it’s the radiologist, anesthesiologist, or lab work — will be treated as in-network, leaving patients owing thousands of dollars they never anticipated.”

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