ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 08 20:10

6 Things That Could’ve Been Bought With The $1.5 Trillion The Government Spent Developing The F-35 Fighter Jet

With huge design flaws, the enormously expensive F-35 fighter jet is completely unsuitable for combat. Uncle Sam’s expenditure on this jet is just the latest astonishing example of out-of-control government spending. Here are some other things that could’ve been purchased with the $1.5 trillion that the F-35 cost to develop.

Jun 08 18:58

U.S. and World Economies Slowing Down?

According to a new report, the U.S. and world economic growth projected for the remainder of 2015 is expected to be lower than what was originally thought.

Jun 08 18:54

U.S. Car Sales Up in May

According to new reports, car sales in the U.S. were higher than expected in May due to Memorial Day promotions and a strong demand for SUVs.

Jun 08 18:48

Google Photo Storage Free, But is it Secure?

Google Photos, a new service of Google, rolled out recently as a free option for users to store and share photos. It's free to use, but it may not be the most secure option.

Jun 08 18:42

$15 Minimum Wage Approved in Los Angeles

The Los Angeles city council tentatively approved a $15 minimum wage at it’s meeting Wednesday. The wage will be increased up to $15 an hour by 2020.

Jun 08 18:42

Fewer Students are Going to College

While the strengthening economy and return of jobs is usually something to celebrate, it is likely the culprit behind declining college enrollment as more take their changes in the job market.

Jun 08 15:57

Bye Bye Middle Class: Billionaire Says Robots and Artificial Intelligence Will Wipe Out Jobs, Accelerate Wealth Gap

Rupert blasted the actions of “.1 percent of .1 percent,” or roughly the upper 7,000 individuals of the population, which paints with a narrower brush than the general class warfare slogans against the 1%, who instead make up an enormous 70 million people across the globe. Bloomberg reported:

“How is society going to cope with structural unemployment and the envy, hatred and the social warfare?” he said. “We are destroying the middle classes at this stage and it will affect us. It’s unfair. So that’s what keeps me awake at night.”

Read more at SHTFplan.com

Jun 08 15:00

FIFA Scandal Highlights Corruption in Global Financial System

The President of international soccer’s governing body, the Federation Internationale de Football Association (FIFA), is resigning amid corruption allegations. Sepp Blatter led FIFA for 17 years before resigning June 2 after winning re-election to another term as the organization’s leader. Just before his resignation, Swiss authorities arrested seven FIFA executives as part of an FBI probe that indicted 14 people on bribery and corruption charges. Twenty-six banks are named in the indictment, including major US firms such as Citigroup and JP Morgan Chase.

Jun 08 14:46

Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?

Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries that are being threatened in this manner include Italy and France. If you fast forward two months from this moment, that puts us in early August. So clearly the European Union wants everything to be squared away by the end of the summer. Is there a reason for this? Are they anticipating that something really bad will happen in September or thereafter? Why such a rush?

We all remember what happened when major banks were “bailed out” during the last financial crisis. A tremendous amount of taxpayer money was given to the big banks to help prop them up so they wouldn’t fail. This greatly upset a lot of people.

Jun 08 14:27

US states face wide budget deficits 6 years into economic recovery

Many American states are still facing significant budget deficits even though the US economy is in its sixth year of recovery from the Great Recession.

Dozens of states continue to face major funding gaps that have locked state legislatures in prolonged battles with governors, threatening major spending cuts and widespread government layoffs, The New York Times reports.

Jun 08 14:16

Los Angeles homeless population grew by 16 percent since 2013

According to a recent survey, the population of homeless people in the Los Angeles area has increased 16 percent since 2013, leading to the mushrooming growth of tent cities and other encampments.

Every two years, the Los Angeles Homeless Services Authority releases a count of the homeless population of Los Angeles County, excluding Long Beach, Pasadena and Glendale. This year’s count, taken in January 2015, jumped to 41,174, up from 35,524 in 2013.

Jun 08 14:15

Experts warn British govt. against further cuts to social care

A further £1bn in cuts to social care will hit thousands of Britons, experts say.

Over £1bn worth of funding will be taken from social care services in the next year alone, leaving thousands of elderly and disabled people unable to perform basic tasks such as dressing, eating and washing, council care bosses have warned.

Jun 08 13:51

Social Control in Europe: Virtual Jobs

As the economy in Europe festers the New York Times reports that the ranks of the Eurozone’s unemployed are finding solace in a curious parallel economy populated by thousands of counterfeit businesses known as “practice firms.”

Jun 08 13:51

Bilderberg 2015: Implementation of the A.I. Grid

By Jay Dyer

The plan to integrate nations into continental trading blocs is not a new idea. In Dr. Carroll Quigley’s Tragedy and Hope, reference is made to the plan of the Third Reich to create global trading blocs, which itself is an older British Royal Society plan. Daniel Estulin, in his The Bilderberg Group and Shadow Masters provides detailed investigations into both Bilderberg and its many-headed Hydra organization, exemplified in Captain America 2: Winter Soldier. Founded by Prince Bernhard of the Netherlands, as well as numerous other Atlanticist elites like David Rockefeller, Paul Van Zeeland and numerous other media barons, corporate heads, bankers, and countless other people better than us.

Jun 08 13:44

Obama Pushes for Fast-Track TTIP Deal as EU Opposition Grows

President Barack Obama is using side-meetings at the G7 talks in Germany to push his trade agenda to speed up the already slow negotiations over the controversial Transatlantic Trade and Investment Partnership (TTIP) in the face of increasing opposition on both sides of the Atlantic.

Jun 08 13:35

Greece told to strike a deal or face 'dramatic consequences'

Greece's creditors are losing patience with the country's uncompromising stance on its debt obligations, with the heads of the European Parliament and Commission calling on Alexis Tsipras's government to find common ground for a deal or face "dramatic consequences".

Jun 08 13:30

Yellen: Fed won't comply with House subpoena yet

Federal Reserve Chairwoman Janet Yellen told lawmakers Friday that the central bank will not fully comply with a congressional subpoena, saying it could jeopardize an ongoing criminal probe into a leak of sensitive information.

Webmaster's Commentary: 

Confirmation of Allen Greenspan's comment that the Federal Reserve answers to no government authority!

Jun 08 13:29

New York food banks running out of food: Report

Food banks across the US state of New York are running out of food, amid falling funds and rising demand from people that have trouble affording food.

Jun 08 13:28

An Economic Reason for the US vs. China Conflict

There are many reasons that the US is pushing on China in the South China Sea. Two articles have been published on Counterpunch in recent weeks exploring “why?” None mention an important economic reason that has, at least in part, motivated the US to go to war and is very much at stake in the growing dispute with China: the value of the dollar.

Jun 08 13:25

Why The American Middle Class Is Shrinking

Jun 08 13:11

LAND OF THE DEBT SERF – HOW “AUTO TITLE LOAN” COMPANIES ARE RUTHLESSLY PREYING ON AMERICA’S GROWING UNDERCLASS

Short-term lenders, seeking a detour around newly toughened restrictions on payday and other small loans, are pushing Americans to borrow more money than they often need by using their debt-free autos as collateral. Their hefty principal and high interest rates are creating another avenue that traps unwary consumers in a cycle of debt. For about 1 out of 9 borrowers, the loan ends with their vehicles being repossessed…

Jun 08 13:10

The Topless Dancer, Slavery and the Origins of Capitalism

In the middle of May, I blogged an excerpt from an unpublished comic book memoir I did with Harvey Pekar in 2008. It covered my experience in Houston in the mid-seventies, part of which involved an affair with a comrade who had been dancing in Montrose just before I arrived, a neighborhood that mixed bohemia, gay and topless bars, and apartment complexes geared to swingers in double-knit suits.

Jun 08 12:47

The Economic Consequences of Austerity

On 5 June 1919, John Maynard Keynes wrote to the prime minister of Britain, David Lloyd George, “I ought to let you know that on Saturday I am slipping away from this scene of nightmare. I can do no more good here.” Thus ended Keynes’s role as the official representative of the British Treasury at the Paris Peace Conference. It liberated Keynes from complicity in the Treaty of Versailles (to be signed later that month), which he detested.

Jun 08 12:23

Looming rental crisis in the United States

Jun 08 12:11

Greenshoots! We're saved!

Jun 08 12:02

White House Admits Economies Of European Allies Crippled By Russian Sanctions

Just over a year ago when the Obama administration first introduced the vague, scary-sounding, all encompassing concept of "costs" when it explained how US sanctions would cripple the Russian economy, we mocked this latest bout of amateurism by the US State Department, noting that ig anything it would instead crush Europe's dominant, and far more intertwined with the Russian economy, powers such as Germany.

Webmaster's Commentary: 

So of course Obama must continue this failed policy, because he can never admit he is a failure!

Jun 08 12:02

Obama Vows More Possible Anti-Russia Sanctions After G7 Summit

The Group of Seven (G7) discussed enacting possible additional sanctions against Russia over its alleged involvement in the Ukrainian crisis, US President Barack Obama said in a press conference on Monday.

Jun 08 11:35

Obama says Supreme Court should never have taken up health law case, in blunt challenge

President Obama bluntly challenged the Supreme Court over a pending ruling on the validity of ObamaCare subsidies, complaining Monday that the court should never have taken up the case -- and warning that a ruling against subsidies would be a "twisted interpretation" of the law.

The president and his administration's legal team for months have fought the Affordable Care Act court challenge, which is over whether people who enrolled through the federal HealthCare.gov are entitled to subsidies.

But the president's comments on Monday, during a press conference on the sidelines of the G-7 summit in Germany, were perhaps his toughest to date. He strongly suggested the court would be running afoul of established legal guidance if it rules against the administration, and took the rare step of saying the court should have stayed out of this fight.

Webmaster's Commentary: 

Jun 08 11:25

Cameron trips up over Europe at G7 summit, denies U-turn

British Prime Minister David Cameron tripped up over Europe at a summit of the Group of Seven Industrial nations (G7), appearing to issue an ultimatum to his own ministers over the EU only to swiftly withdraw it, saying he had been misunderstood.

The debacle was Cameron's first serious setback since he was re-elected a month ago and was all the more awkward because it concerned his flagship policy of renegotiating Britain's EU ties before holding an in-out EU membership referendum.

His uncertain handling of such an important issue is likely to be interpreted as a sign of how nervous he is to keep his fractious Conservative Party united to avoid a re-run of past splits which helped topple his two immediate predecessors.

Jun 08 11:24

Back me on European Union referendum or quit: Cameron tells ministers

British Prime Minister David Cameron sought to quell fresh signs of rebellion in his Conservative Party over Europe, warning ministers they will have to back his European Union strategy or leave his government.

Speaking on the sidelines of a meeting in Germany of the Group of Seven Industrial nations (G7), Cameron, who has pledged to renegotiate Britain's EU ties before offering an in-out membership referendum, signalled he would not tolerate dissent.

Jun 08 10:47

Pro-trade Democrats to travel with Obama to Germany for G7; get a glam ride on Air Force One

The White House says President Barack Obama will host four House Democrats aboard Air Force One this weekend as he travels to a summit of leading industrialized countries in Germany. The lawmakers all support Obama's efforts to win special authority to negotiate a Pacific rim trade deal.

The four lawmakers are Reps. Gerry Connolly of Virginia, Jim Himes of Connecticut, Eddie Bernice Johnson of Texas and Mike Quigley of Illinois. They are among only 17 House Democrats publicly backing Obama's request for "fast track" trade negotiating authority.

Webmaster's Commentary: 

And who pays for this terrific, and and the associated benefits thereof!? YOU, THE TAXPAYER, who is going to get FLEECED if this treaty becomes law, does, my friends!!

Jun 08 10:38

Barcelona Mayor Calls for Public Banks, Basic Income Gains Momentum, True Fiscal Responsibility, and more

A longtime anti-eviction activist has just been elected mayor of Barcelona, becoming the city’s first female mayor. Ada Colau co-founded the anti-eviction group Platform for People Affected by Mortgages and was an active member of the Indignados, or 15-M Movement.

Colau has vowed to fine banks with empty homes on their books, stop evictions, expand public housing, set a minimum monthly wage of $670, force utility companies to lower prices, and slash the mayoral salary. She enjoyed support from the Podemos party, which grew out of the indignados movement that began occupying squares in Spain four years ago.

Jun 08 10:30

Poor and Lonely in Thatcher’s London

There have been other stories of poor and lonely students living in London, though perhaps none quite so poignant and profound as Amit Chaudhuri’s Odysseus Abroad. It’s Margaret Thatcher’s London, circa 1985, and Ananda, the main character, has already been in London for two years, attending a school that must be the University of London, though it is never named.

Jun 08 09:47

Aloha: Hawaii sends its Obamacare exchange to the death panel

Cue up the Queen soundtrack… another one bites the dust. Hawaii is throwing in the towel and shutting down its state Obamacare exchange. $200M in federal taxpayer cash has essentially disappeared down a rat hole. Customers will instead be directed to the federal system.

Jun 08 09:41

Report Reveals $8.5 Trillion Missing From Pentagon Budget

Protesters came in via bus from Milwaukee to disrupt the groundbreaking. Hecklers attended the dedication. Police were on hand to provide protection. But the library went up as planned and has not been the focus of further controversy.

Jun 08 09:17

A Move Closer to a Global Cashless Society: Apple Pay Coming to Britain this Summer

By Steven MacMillan

Despite sounding like an easier and more convenient way to purchase goods and services, many around the world have voiced fears over the move towards a cashless society. Apple Pay is one step closer towards a global cashless society, where cash is banned and every transaction is tracked by authorities...

Jun 08 09:01

More CFR Insiders Warn About Gold!

Jun 08 08:38

Con Job Report

Jun 08 08:34

Fraud charges and shareholder revolt at Deutsche Bank

The annual general meeting of Deutsche Bank on May 21 took place against a background of severe turbulence due to the numerous scandals enveloping Germany’s largest financial institution. On Sunday the chairman of the bank’s Supervisory Board announced that the current joint heads of the bank, Anshu Jain and Jürgen Fitschen, would be stepping down from their posts.

Jun 08 08:31

Gold and silver should become money

Jun 08 08:26

103 Years Later, Wall Street Turned Out Just As One Man Predicted

The Aldrich Plan was defeated in the House in 1912 but its outline became the model for the bill that eventually was adopted as the Federal Reserve Act of 1913 whose passage not only unleashed the Fed as we know it now, but the entire shape of modern finance.

In 1912, one person who warned against the passage of the Aldrich Plan, was Alfred Owen Crozier: a man who saw how it would all play out, and even wrote a book titled "U.S. Money vs Corporation Currency" (costing 25 cents) explaining and predicting everything that would ultimately happen, even adding some 30 illustrations for those readers who were visual learners.

The book, which is attached at the end of this post, is a must read, but even those pressed for time are urged to skim the following illustrations all of which were created in 1912, and all of which predicted just what the current financial system would look like.

Jun 08 08:24

Police clash with demonstrators at G7 protest

Around 4000 people have staged largely peaceful protests under a heavy police presence near the venue for the G7 summit in southern Germany.

Police reported isolated incidents on Saturday and in one case deployed pepper spray to disperse protesters but the demonstration in the city of Garmisch-Partenkirchen was noisy but mainly good-natured.

There were seven police injuries as some protesters hurled bottles, authorities said.

Jun 08 08:23

Deutsche Bank CEOs “Shown Door” – World’s Largest Holder of Derivatives In Trouble?

The joint CEO’s of Germany’s largest bank, Deutsche Bank, the twelfth largest bank globally in terms of assets, unexpectedly announced their resignation over the weekend. Anshu Jain will resign at the end of this month, almost two years ahead of schedule while Juergan Fitschen will stay on until May of next year.

It is believed they resigned but some media reported that the CEOs heads had “rolled”, they were “shown the door” and Reuters reporting that Deutsche had “purged its leadership.”

The announcement followed what Deutsche Bank described as “an extraordinary meeting” over the weekend. It is particularly surprising given that Jain had been granted extra powers at the bank only two weeks ago to reorganise the scandal plagued lender.

Jun 08 08:06

National Debt – Or 1 is Too Many and 12 are Not Enough

The increase in US national debt was $421 Billion between October 2001 and October 2002, but the debt increased by $1.89 Trillion between October 2008 and October 2009. A $100 Billion deficit was too much spending to maintain a stable currency, but after traveling down the dangerous road of deficit spending, over $1 Trillion in excess spending was not enough to stimulate the economy back to health.

Global debt has been reported at $200 Trillion, having increased $57 Trillion in the last 8 years, yet economies are still weak in Japan, Europe, the UK, and the US. If global central bankers and governments had wanted sound financial systems, they would not have traveled down the dangerous road of ever increasing debt, monetizing bonds, ZIRP (zero interest rate program), negative interest rates in Europe, and more. One trillion dollars in debt was far too much, but in our “Financial Twilight Zone” world, $200 Trillion is not enough.

Jun 08 07:29

Obama: G7 Agrees Sanctions on Russia to Stay in Place

U.S. President Barack Obama says Russia's actions in Ukraine are hurting Moscow and the Russian people. He said leaders at the G7 summit agree that sanctions on Russia will remain in place as long as the Minsk cease-fire agreement is being violated.

Webmaster's Commentary: 

Which is bogus since it is Kiev that has openly violated the cease fire! Obama's speech (still ongoing) also touched on FIFA! As if that was a world-changing event. Obama has stated Europe's commitment to end fossil fuel use without providing a safe and reliable alternative or explaining why the US is still trying to conquer and control the world's oil-producing regions. And of course he tossed global warming and why it is okay for him to amnesty the illegals without Congress into the mix as well!

In short, there is an obvious disconnect between what Obama is saying at the G7 and what is really going on.

Jun 08 05:23

Bank Runs Are Good?

Jun 08 05:20

10 Reasons Why You Should Oppose TPP & TTIP

Jun 08 04:21

10 Reasons Why You Should Oppose TPP and TTIP

The U.S. Senate’s passage of Trade Promotion Authority (TPA) legislation on May 22 means that the TPA bill (also known as “Fast Track”) will soon be up for a vote in the House of Representatives. If the House follows suit and approves it, we can be certain that President Obama and his Republican supporters in Congress will move for expedited action on the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), both of which, Obama has stated, are top priorities of his administration.

Jun 07 22:03

Why is the TPP Deal Such a Big Secret?

With the text of Trans-Pacific Partnership hidden from the public, The Real News Network’s Jessica Desvarieux speaks to those who have read the document and who say this level of secrecy is unprecedented.

Jun 07 21:51

NY Food Banks Seek $16 Million in State Funding to Restock their Barren Shelves

Food banks across New York state are running out of food due to rising need and falling benefits. Now they are asking the state legislature for an additional $16 million in funding, just to keep the shelves stocked through the end of the year.

Jun 07 21:15

Just Who Are The Top Shareholders Of Monsanto?

Jun 07 19:33

Greece told to strike a deal or face 'dramatic consequences'

Greece's creditors are losing patience with the country's uncompromising stance on its debt obligations, with the heads of the European Parliament and Commission calling on Alexis Tsipras's government to find common ground for a deal or face "dramatic consequences".

Jun 07 18:36

Boston grocery store tackles food waste and high produce prices in one fell swoop

In an attempt to kill two birds with one stone fruit, a former grocery store chain president has opened a new, nonprofit store in Boston, Massachusetts that hopes to tackle both food waste and the unaffordability of healthy food among the working poor.

Daily Table, a not-for-profit grocery store, opened Thursday in Dorchester, a working-class neighborhood in Boston, featuring cheap, yet healthy foods that traditional grocers are unwilling to sell because of arbitrary ‘use by’ dates.

The store is the brainchild of Doug Rauch, the former president of Trader Joe’s, after seeing tons of perfectly good food tossed out because the items were close to or had surpassed their listed sell-by dates.

Jun 07 17:56

Gold confiscation and its consequences

Jun 07 17:53

2015 Systemic Market Crash

Jun 07 17:33

New UN climate fund to take risks to promote green tech

new United Nations fund set up to help developing nations tackle climate change will take bigger risks than many international lenders to promote innovative green technologies, the head of the fund said on Friday. Hela Cheikhrouhou, executive director of the Green Climate Fund (GCF), told Reuters that donor pledges of $10.2 billion so far were a good start but only a fraction of the sums needed to curb greenhouse gas emissions and adapt to rising temperatures. The fund will take risks to foster new technologies in emerging nations, she said, likening it to a company in a high-tech stock market index that has a lower credit rating than a blue-chip firm.

Jun 07 16:32

Leaders at G7 in Bavaria in call to uphold Russia sanctions

The two-day G7 summit has kicked off in Bavaria as its leaders gathered to discuss hot-button issues such as Ukrainian crisis, with some voicing support for tougher Russia sanctions despite the economic difficulties they bring to the EU.

Jun 07 15:25

Traders Back Up The Truck To Buy Dip In Tech

Jun 07 12:51

Elliott Waves Anticipate Higher Bond Yields

Jun 07 09:47

Russia Gets Very Serious on De-dollarizing

Russia is about to take another major step towards liberating the Ruble from the Dollar System. Its Finance Ministry just revealed it is considering issuing Russian state debt in Chinese Yuan. That would be an elegant way to decouple from the dependence and blackmail pressures from the US Treasury financial terrorism operations while at the same time strengthening the bonds between China and Russia–Washington’s worst geopolitical nightmare.

Jun 07 09:42

Greece Explores BRICS Development Bank Membership

Athens is mulling over the position of a member of the BRICS New Development Bank.

Jun 07 09:08

How Google Adsense Is Censoring WeAreChange and Independent Media

Jun 07 09:03

20,000+ Police March In Force Against G7 Protests in Germany

Though more than 20,000 police officers were deployed to keep voice of the people away from powerful leaders, the critiques offered by demonstrators appear highlighted by the enormous efforts made to silence them

Jun 07 08:25

America, The Ponzi Scheme: A Commencement Speech For The Scammed

It couldn’t be a sunnier, more beautiful day to exit your lives -- or enter them -- depending on how you care to look at it. After all, here you are four years later in your graduation togs with your parents looking on, waiting to celebrate. The question is: Celebrate what exactly?

In possibly the last graduation speech of 2015, I know I should begin by praising your grit, your essential character, your determination to get this far. But today, it’s money, not character, that’s on my mind. For so many of you, I suspect, your education has been a classic scam and you’re not even attending a “for profit” college -- an institution of higher learning, that is, officially set up to take you for a ride.

Jun 07 06:33

EU's Juncker snubs Greek PM after 'absurd' debt deal rebuff

The European Union's chief executive declined to speak to Greek Prime Minister Alexis Tsipras on Saturday after the leftist leader rejected as "absurd" international creditors' terms for a cash-for-reform deal to keep his country from default.

Jun 07 06:27

Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?

Are they expecting something to happen? The European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries that are being threatened in this manner include Italy and France. If you fast forward two months from this moment, that puts us in early August. So clearly the European Union wants everything to be squared away by the end of the summer. Is there a reason for this? Are they anticipating that something really bad will happen in September or thereafter? Why such a rush?

Jun 07 05:26

Another Paint-By-The-Numbers Friday

Jun 07 04:48

Hungary becomes 1st EU nation to join China’s Silk Road network

Hungary has signed an agreement with China officially joining Beijing’s ambitious Silk Road network, a Chinese Foreign Ministry statement said.

Jun 07 04:38

Western creditors want to raid Ukraine’s Central Bank

Ukraine's Ministry of Finance said that the proposal is unacceptable, since it assumes using Ukrainian Central Bank reserves to cover the country’s debts, “which would be a clear violation of Ukraine’s law.”

Jun 06 23:37

10 Shocking Stats You Need to Know About Water

Jun 06 23:21

Massive Student Loan Defaults Taking Place

Jun 06 17:09

Food prices just keeps going Up! Up! Up!

Jun 06 14:05

What Will Crush the Magnificent Startup Boom?

Jun 06 10:07

Memo to the Fed: You Are the Enemy of the Middle Class, Capitalism, and the Nation

The Federal Reserve is appalled that we’re not spending enough to further inflate the value of its corporate and banking cronies. In the Fed’s eyes, your reason for being is to channel whatever income you have to the Fed’s private-sector cronies–banks and corporations.

If you’re being “stingy” and actually conserving some of your income for savings and investment, you are Public Enemy #1 to the Fed. Your financial security is nothing compared to the need of banks and corporations to earn even more obscene profits. According to the Fed, all our problems stem from not funneling enough money to the Fed’s private-sector cronies.

(read more)

Jun 06 09:29

So Long Big Apple! Chinese Firms Look to Drop NYSE Listings, Return Home

A number of Chinese tech firms have become disenchanted with the United States and are looking to drop their listings in New York and return home to Beijing, where stock markets are surging.

Jun 06 09:05

LAPD DUI Checkpoints This Weekend

DUI Saturation Patrol - When: Saturday, June 6, 2015, 5 P.M. to Sunday, June 7, 2015, 1 A.M. - Where: 77th Street Area
Why: Over the past three years, there have been 7,048 DUI- related traffic collisions in Los Angeles, which have resulted in 60 fatalities and 2,818 injuries. The Los Angeles Police Department reminds everyone that they can assist in preventing this crime from ever occurring. If you are planning a gathering or celebration with alcohol included, or if you are out on the town, plan ahead and designate a non-drinking sober driver. A DUI or drug-impaired arrest can costs up to $10,000 or even more, including time in jail, the loss or your driver license and high insurance rates. The aforementioned enforcement efforts are funded by a grant from the California Office of Traffic Safety, through the National Highway Traffic Safety Administration. Remember, everyone is encouraged to help keep our roadways safe; Report Drunk Drivers - Call 911!

Jun 06 08:45

Organic Takeover: Toxic Food Makers Lose $4 Billion in Sales in One Year

Consumers are leaving toxic food makers’ products behind on grocery store shelves faster than you can say ‘organic.’ Big Food lost $4 billion in sales last year alone due to their inability to answer market demand for non-GM, organic food that doesn’t contain high fructose corn syrup, gluten, antibiotics, growth hormones, MSG, and other toxic additives. Meanwhile, organic food is absolutely exploding.

Jun 06 08:43

Egg Rationing in America has Officially Begun

In recent days, an ominous sign has appeared throughout Texas. “Eggs [are] not for commercial sale,” read warnings, printed on traditional 8 1/2-by-11-inch pieces of white paper and posted at H-E-B grocery stores across Texas. “The purchase of eggs is limited to 3 cartons of eggs per customer.”

Jun 06 08:41

The Politics of Anti-Austerity: The Spanish Elections and Participatory Democracy

The anti-austerity movement received another shot in the arm towards the end of May, with local elections in Spain following the Greek tune set by Syriza. The notable casualties of the night were the ruling Popular Party (PP) and the socialist PSOE, necessitating the construction of previously unseen coalitions. In an even more significant way, the gauntlet is being laid down towards traditionalists insistent on following the belt tightening approach that is strangling growth and encouraging continent-wide estrangement.

Jun 06 08:39

PRICELESS PRECIOUS METAL -- Rob Kirby

Jun 06 08:35

Fines For Homeless Scrapped By Hackney Council After Public Backlash

The London Council at the centre of a controversial crackdown on homeless people has announced it will scrap a proposed £1,000 fine for rogue rough sleepers.

80,000 people petitioned Hackney councillors to strike rough sleeping from a list of 'anti-social' activities in areas controlled by a new Public Space Protection Order (PSPO), which people could be billed a heft sum for breaching.

The PSPO was allegedly designed to tackle "the anti-social behaviour linked to street drinking, persistent rough sleeping and begging in 'hot spots'".

Under its rules, police and council officers could hand out fixed penalties to 'offenders'.

Jun 06 08:32

Anti-G7 protests ahead of summit in Germany LIVE UPDATES

Police in Garmisch-Partenkirchen have told RT's Peter Oliver that protesters used pepper spray against them. One officer had to receive medical treatment. At least one protester was seen carried away on a stretcher as well.

Jun 06 08:13

ISDS: The New Supreme Court

Trade deals like the TPP, T-TIP, and TISA are solidifying a new legal structure called Investor-State Dispute Settlement (ISDS), which allows multinational corporations to nullify national laws and overrule their supreme courts, including ours here in the United States

Jun 06 08:12

Sheldon Adelson looks to stamp out growing US movement to boycott Israel

Billionaire gambling magnate and Republican party donor convenes closed-door meeting to combat US university movement amid growing Israeli alarm over growing Boycott, Divestment and Sanctions campaign in US and Europe

Jun 06 08:09

Anti-G7 demonstrators prepare for summit protest

Thousands of people have begun arriving in the Bavarian alpine town of Garmisch-Partenkirchen to rally against the summit of the Group of Seven. Leaders from the world’s largest economic powers meet nearby on Sunday.

Jun 06 08:08

After Walt Disney laid off 250 employees, US Senator demands probe into misuse of H1-B visa programme

US Senator has demanded a probe into 'potential misuses' of H1-B visa programme following a report that Walt Disney has laid off about 250 employees and replaced them with Indians.

Jun 06 08:04

What Makes a Makerspace?

By Brian Berletic

Makerspaces can be many things to many different kinds of people. To some, it is a club where geeks can work on fun projects together. To others, it is a place to learn something new and interesting and even sometimes something very useful...

Understanding the different kinds of makerspaces that exist today, and by mixing and matching what works best at each, can give us a formula to form a more diverse and appealing space within our own local communities...

Jun 06 07:33

Why Is The EU Forcing European Nations To Adopt ‘Bail-In’ Legislation By The End Of The Summer?

Are they expecting something to happen? As you will read about below, the European Union says that any nation within the EU that does not enact “bail-in” legislation within the next two months will face legal action. The countries that are being threatened in this manner include Italy and France. If you fast forward two months from this moment, that puts us in early August. So clearly the European Union wants everything to be squared away by the end of the summer. Is there a reason for this? Are they anticipating that something really bad will happen in September or thereafter? Why such a rush?

Jun 06 04:56

Three Charts That Should Keep You up at Night

Jun 06 01:42

The Politics of Anti-Austerity: The Spanish Elections and Participatory Democracy

The anti-austerity movement received another shot in the arm towards the end of May, with local elections in Spain following the Greek tune set by Syriza. The notable casualties of the night were the ruling Popular Party (PP) and the socialist PSOE, necessitating the construction of previously unseen coalitions. In an even more significant way, the gauntlet is being laid down towards traditionalists insistent on following the belt tightening approach that is strangling growth and encouraging continent-wide estrangement.

Jun 06 01:33

Brinkmanship on Display as Greece Rejects 'Irrational' IMF Proposals

Greek Prime Minister Alexis Tsipras on Friday rejected the financial aid proposal of introduced by foreign creditors overseeing the country's bailout, saying the Syriza government cannot accept "irrational" proposals that call for additional austerity measures while offering nothing in the way of debt relief.

Jun 05 22:07

Seattle Mayor's Israel Trip to Cost Public about $36,000

Seattle Mayor Ed Murray’s trip to Israel next week to speak at an LGBT conference and take part in a trade mission will cost taxpayers about $36,000.

Murray’s spokesman previously said Israel’s foreign ministry would pay for the trip to the conference but now says Seattle is covering some expenses, including $24,000 for flights for a staff member and security guards and lodging for the guards throughout the trip.

In addition, the Seattle Fire Department is paying about $10,000 to $12,000 for two of its officials to participate in the trade mission, which was added after the mayor agreed to speak at the conference. They’ll meet with Israeli emergency medical service workers.

Jun 05 21:02

As Goes The Credit Market, So Goes The World

The stock market is a sideshow. It’s the credit markets where we see the most extreme bubble. It’s the credit markets that have danced most vigorously to the pied piper Central Banker music of the last six years, which is why we are watching them closely. When confidence in the Central Bankers finally cracks, I believe this is exactly where we’ll see it first. And it’s this loss of confidence that will mark the decisive turn in the cycle for credit.

Jun 05 19:27

Ukrainians Dispossessed, Americans are next — Paul Craig Roberts

The belief spread by Wall Street and “shareholder advocates” that corporations only have responsibility to their owners and managers has destroyed the American economy.

By locating production offshore, corporations have destroyed the incomes that supported the American consumer market. For example, the incomes associated with the production of Apple computers, I-Pads, and I-Phones are in China. Apple’s American customers do not have the incomes associated with the production of the products that Apple markets to them.

Americans are already dispossessed of their livelihoods and careers and their pensions are next. Wherever we look, the fate of populations under Western influence are the same. The Ukrainians are exploited, the Greeks, the British, the Americans.

Wherever the West has an imprint, the populations are exploited. Exploitation of the many for the few is the Hallmark of the West, a decrepit, corrupt, and collapsing entity.

Jun 05 16:00

Bond players- Beware of what happens here!

Jun 05 15:36

Honolulu Council overrides veto, expands sit-lie ban

Honolulu is expanding its ban on sitting and lying down in public places to additional parts of the city, despite Mayor Kirk Caldwell's veto.

The City Council voted 6-3 Wednesday to override the veto and enact its recent bill that expands the ban to additional locations.

Jun 05 15:16

Who Pays Taxes in the US? Everyone but the Super-Rich

Why are our seniors paying higher taxes on their social security benefits than billionaires pay on stocks?

The IRS released a new report that reveals the staggering amount of money that the top one-thousandth of the 1% in the US is hoarding.

Jun 05 14:41

Overwhelming Majority of Americans Want Campaign Finance Overhaul

On Tuesday the New York Times and CBS News released one of the most in-depth surveys in recent history on Americans’ views about money in elections. The results weren’t hard to interpret: across the board, Americans agree that money holds far too much sway and that sweeping changes are needed in our political system. A full 85 percent of respondents said our current system is so flawed that it needs to either see fundamental changes or be rebuilt completely.

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