ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 02 14:29

Complete January 2016 US Mint Sales Report

Feb 02 14:28

‘Slow death of social housing’: 80,000 council homes face Tory chop

The Conservative government’s Housing and Planning Bill will cause at least 80,000 council properties in Britain to vanish by 2020, according to the Local Government Association (LGA), intensifying the nation’s housing crisis.

Feb 02 14:06

Negative Interest Rates Already In Fed’s Official Scenario

Over the past year, and certainly in the aftermath of the BOJ's both perplexing and stunning announcement (as it revealed the central banks' level of sheer desperation), we have warned (most recently "Negative Rates In The U.S. Are Next: Here's Why In One Chart") that next in line for negative rates is the Fed itself, whether Janet Yellen wants it or not.

Feb 02 14:05

Surging Bank Risk Screams The Rebound In Stocks Is Over

Let’s just keep it simple. When bank risk breaks to the upside, it’s bad for equities...

Feb 02 14:05

S&P Just Downgraded 10 Of The Biggest US Energy Companies

Just 10 days after "Moody's Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review", moments ago S&P decided it wanted to be first out of the gate with a wholesale downgarde of the US energy companies, and announced that it was taking rating actions on 20 investment-grade companies, including 10 downgrades.

Feb 02 13:20

SILVER TO GOLD SALES RATIO JANUARY 2016

Feb 02 13:12

Infographic visualizing America’s new $19 trillion debt

Webmaster's Commentary: 

The largest single holder of US debt are the US citizen's government trust funds, including Social Security. The money that was placed there "in trust" has been "borrowed" by the US Government, which means when the government defaults, YOU will suffer the most from it.

Does this sound like wise and prudent government to you?

Feb 02 13:08

Infographic visualizing America’s new $19 trillion debt

all unpayable

look at the days elapsed between successive trillions for a good laugh!

Feb 02 12:57

Global manufacturing continues to fall

The deepening recessionary trends in the global economy, which saw stock markets have one of their worst openings for a new year last month, have continued into February. A series of data issued yesterday pointed to lower growth in China, Europe and the United States.

Feb 02 12:46

Close-Fisted Wealthy Nations Are ‘Failing the People of Syria’: Oxfam

Wealthy countries are still falling short of their obligations to help Syrians, five years into the crisis, according to a new analysis by the international aid group Oxfam, released Monday.

Feb 02 12:41

Rent is too damn high

Feb 02 12:33

‘Slow death of social housing’: 80,000 council homes face Tory chop

The Conservative government’s Housing and Planning Bill will cause at least 80,000 council properties in Britain to vanish by 2020, according to the Local Government Association (LGA), intensifying the nation’s housing crisis.

Feb 02 12:00

TPP 'fundamentally flawed,' should be resisted - UN human rights expert

The top United Nations expert on human rights has called on the 12 nations considering the Trans-Pacific Partnership to reject the massive trade agreement since in its current form it "is out of step with today’s international human rights regime.”

Webmaster's Commentary: 

"That's the whole point!" -- Official White Horse Souse

Feb 02 11:59

Microsoft is now aggressively pushing Windows 10 upgrades

Microsoft confirmed the change in a statement to The Verge. "As we shared in late October on the Windows Blog, we are committed to making it easy for our Windows 7 and Windows 8.1 customers to upgrade to Windows 10," says a Microsoft spokesperson.

Webmaster's Commentary: 

Translation: "We're gonna shove it down your throats whether you want it or not! This is a fascist country now, and yo do what the corporations tell you to do or bad things will happen to you! Microsoft, Microsoft, Uber alles!"

Download the GWX Control Panel HERE. This is a free tool that blocks the installation of Windows 10.

Feb 02 10:20

More than 1 million in US face food stamps cutoff

More than 1 million low-income people across the United States could soon lose their government food stamp benefits if they fail to meet work requirements. The threatened mass cutoff of the government’s Supplemental Nutrition Assistance Program (SNAP) benefits constitutes a vindictive bipartisan attack on some of the nation’s poorest and most vulnerable residents.

Feb 02 10:18

The Big-Oil Bailouts Begin

Feb 02 10:04

Illinois prepares new attack on pensions as budget impasse enters eighth month

As Illinois enters its eighth month without a budget, Democratic Senate President John Cullerton has indicated that he and billionaire Republican Governor Bruce Rauner are close to a deal on a bill that would cut pensions for state workers. Such a bill would likely be a prelude to a comprehensive austerity budget deal, which would include massive cuts to higher education and social services.

Feb 02 09:58

Syrian children found in Turkish garment factories making British high street brands

H&M and Next, two of Europe’s biggest garment retailers, have found Syrian refugee children working in their supplier factories in Turkey, according to a report by a company ethics watchdog.

Of the 28 major brands questioned by the Business and Human Rights Resource Centre (BHRCC) about conditions at their supplier factories in Turkey and the potential exploitation of undocumented Syrian children and adults, only H&M and Next confessed to finding children working in the factories.

Feb 02 09:52

The Last 16 Times This Happened There Was A Recession…

Something has just happened that has signaled a recession every single time that it has occurred since World War I. 16 times since 1919 there have been at least 8 month-over-month declines in industrial production during the preceding 12 month period, and in each of those 16 instances the U.S. economy has plunged into recession. Now that it has happened again, will the U.S. economy beat the odds and avoid a major economic downturn? I certainly wouldn’t count on it. As I have written about repeatedly, there are a whole host of other numbers that are screaming that a new recession is here, and global financial markets are crumbling. It would take a miracle of epic proportions to pull us out of this tailspin, and yet there are many people out there that are absolutely convinced that it will happen.

Feb 02 09:38

Our Jobs Are Disappearing

Americans are feeling the impoverishing effects of the shift from middle-income to low-income jobs. The disappearance—or, more accurately, downsizing—of living-wage jobs is documented by numerous reports that reveal the suddenness and the extent of this affront to middle America.

Feb 02 09:29

BP to cut 7,000 jobs after posting huge loss

Feb 02 09:19

Pentagon wants $582bn in funding as part of fiscal year 2017 budget

President Obama will request $582.7 billion in funding for the Pentagon as part of the fiscal year 2017 budget, Secretary of Defense Ash Carter said. The Pentagon plans to focus on keeping an edge over competition rather getting ready for “big wars.”

Feb 02 08:47

Chinese Investors Find Out They Got Fleeced By A $7 Billion Ponzi Scheme

On Monday we got the latest “big” news out of China when Beijing announced it had arrested 21 people over a $7.6 billion P2P fraud Ezubao. 900,000 people were defrauded, making the fiasco the biggest ponzi scheme in history by number of victims.

Feb 02 08:44

Hong Kong Housing Bubble Suffers Spectacular Collapse: Sales Plunge Most On Record, Prices Crash

Two months ago, we observed the record plunge in Hong Kong home sales when according to Land Registry data, a paltry 2,826 registered residential transactions were record, down 14.4% from October and what we thought was an amazing 41.7% less than in November last year. This was the lowest print in the history of the series.

Little did we know just how bad it would get just two months later.

Feb 02 07:47

Andy Hoffman: Financial Armageddon This Year

When people hear the world “armageddon” there are usually certain images the minds eye begins seeing. For each person it is probably little different with one exception. For the most part, there is nothing good associated with armageddon.

If we look at how our financial and economic worlds are beginning to unfold, especially over the past six months, we see nothing positive happening. Economies, around the world, are in free fall. How can I say this with such conviction? Well, if we look at the actual numbers, not the propaganda paraded as truth through the mainstream media, we begin to see just how bad it really is.

Webmaster's Commentary: 

Feb 02 07:35

Feds tell Texas ranchers the government owns their land despite owners having deeds, paying property taxes on the land

A group of Texas ranchers are furious after representatives from the federal Bureau of Land Management made claims that their land doesn’t actually belong to the ranchers, but rather it belonged to the federal government. The federal officials claim that despite each rancher having a deed for their property and having paid property taxes on the land each year, the land should never have been sold, as it is actually federal land. However, at least one rancher, Ken Aderholt, isn’t giving up his property without a fight. Aderholt notes that his family has lived and raised cattle on the land for the past 70 years, even building a home on the property that the government now claims it owns.

Webmaster's Commentary: 

Under the Constitution, the Federal Government is only allowed to own the land under Federal Buildings, and Federal infrastructure such as harbors, airports, and military bases. The Founding Fathers included that Enclave Clause to prevent the government from "solving" its self-made economic problems by plundering the property of the people.

Feb 02 07:22

Exxon Mobil Profit Declines as Crude Oil, Gas Markets Crash

>Oil and natural gas prices fell 42 percent in fourth quarter
>Global demand growth in 2016 slows to 1.3 percent: IEA

Exxon Mobil Corp. posted its steepest annual profit decline in more than a decade after deeper-than-planned spending cuts failed to offset the impact of crumbling crude and natural gas prices. The stock dropped almost 2 percent.

Feb 02 07:10

Former Citigroup Trader Explains How Wall Street Came to Own the Clintons and the Democratic Party

Former FX trader at Citigroup, Chris Arnade, just penned a poignant and entertaining Op-ed at The Guardian detailing how Wall Street came to own the Democratic Party via the Clintons over the course of his career. While anyone reading this already knows how completely bought and paid for the Clintons are by the big financial interests, the article provides some interesting anecdotes as well as a classic quote about a young Larry Summers.

Feb 02 04:04

Global stocks snap winning streak as oil pressure returns

Oil LCOc1 struggled to steady, having fallen as much as 7 percent on Monday, and the glum macro mood sweeping back though markets saw European shares .FTEU3 follow Asia .MIAPJ0000PUS deep into the red.

Britain's FTSE 100 .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI were down 1.4-1.7 percent as BP’s biggest loss in 20 years and plans to cut thousands more jobs dovetailed with rating cuts by S&P for Shell and BHP Billiton to underscore commodity woes.

Banks were hit too
***
n the currency markets, waning risk appetite nudged Japan's yen JPY= and the euro EUR= up against the dollar. But the greenback was squeezing the main emerging markets, up as much as 1 percent against the rouble RUB, the rand ZAR=, Mexico's peso MXN= and Malaysia's ringgit.

The Australian dollar AUD= also slipped

Feb 01 19:20

Matt Simmons On The L.A. Methane Leak

With the ongoing methane leak in Porter Ranch California getting worse, I thought of what Matt Simmons might have said if he were still alive. So I dug out one of his last interviews he did right before he died that was about the BP oil spill. He speaks about the dangers of the massive amounts of methane that was leaking from the Macondo oil well in the gulf of Mexico. His warnings are appropriate for the situation going on in California today.

Feb 01 16:45

Dear Mr Putin, Please Save Us From Wall Street.

Dear Mr Putin, It is customary to say I hope this finds you in good heath when we address a Head of State in an open letter. But America and its NATO partners are the sick ones. We are in terrible economic, social and political health. Our press and our political leaders lie to us. They rob us and demand we believe their lies. Thirty years ago a man whose family had farmed their land for generations was told by the federal government that they needed his farm where he had been growing onions. Their land was seized for pennies on the dollar. Today a giant agricultural corporation is raising onions which was the same crop he and his family had been raising.

Last year police seized more assets from American citizens than did all the burglars, muggers and armed robbers. And our police killed more innocent civilians than did terrorists and crazed mass shooters.

Feb 01 16:44

The Federal Reserve’s ‘Uh Oh’ moment has already arrived

The Federal Reserve seems to have been caught off-guard by the recent turmoil on the markets. As the Chinese economic growth seems to be slowing down, all of the Western central banks need to re-think their plans, and the Federal Reserve will have to kneel in the dust.

Whereas just a few weeks ago, the Fed ‘promised’ the markets it would increase the interest rates 4 times in just twelve months, the central bank is already reneging on its promise as it no longer thinks it will be able to do so without completely suffocating the economy. As we explained in a previous column, the use of some specific words when the original rate hike was announced indicated to us the Fed was actually anticipating the markets might not be ready for more rate hikes just yet.

Feb 01 16:02

Apple, FANGS And Monetary Fools

Feb 01 15:20

Iceland Forgives Entire Population of its Debt. Total US Media Blackout.

Finally serious economists are considering a position I have been maintaining and writing about since the 2008 financial meltdown. Whatever its name— erasure, repudiation, abolishment, cancellation, jubilee—debt forgiveness, will have to eventually emerge forefront in global efforts to solve an ongoing systemic financial crisis.

The US Rothschild Controlled Media (RCM) has completely BLACKED OUT/CENSORED any news about Iceland’s DEBT FORGIVENESS.

Feb 01 15:18

America’s Economic Freedom Has Rapidly Declined Under Obama

America’s declining score in the index is closely related to rapidly rising government spending, subsidies, and bailouts.

Feb 01 15:06

Total U.S. Debt Surpasses $19 Trillion; Rises $8.4 Trillion Under President Obama

Two months ago, when we calculated that the US would need a new "debt ceiling" of $19.6 trillion to last until after Obama's tenure, we may have been too optimistic: since the increase in the hard debt limit of $18.15 trillion which was raised at the end of October, the US appears to be growing its debt at a far faster pace than we had originally expected, and according to the latest public debt data, as of the last day of January, total US debt just hit 19,012,827,698,417.93.

This means that if the nominal US GDP as of December 31 which was $18.12 trillion grows at the 1.2% rate expected by the Atlanta Fed, total debt to GDP is now on pace to hit 105% at the next GDP tabulation, and rising fast from there.

It also means that since his inauguration in January 2009, the US debt has now risen by a whopping 78.9%, or $8.4 trillion. It was $10.6 trillion when Obama came into office.

Feb 01 14:44

Meet China's Latest $1.8 Trillion "Problem"

The powers that be in Beijing aren’t particularly keen on allowing the banking sector to report “real” data on souring loans - especially given the fragile state of the country’s economy. In some cases, the Politburo will pressure banks to simply roll over bad debt, effectively kicking the can.

In addition, banks carry around 40% of their credit risk outside of “official loans.” Here’s what Fitch had to say last year:

Feb 01 14:16

World Bank documents growth of “ninis” in Latin America: Youth neither working nor in school

The World Bank released a report last week documenting the number of youth in Latin America who are neither in school nor working. Derived from the Spanish phrase “ni estudia ni trabaja”, the ninis, who are between 15 and 24 years old, now total more than 20 million. Two-thirds of them are women. They have proven to be a permanent social problem in a region long touted as an economic “success story” for world capitalism. While the percentage of Latin American youth classified as ninis has declined marginally over the last decade, the absolute number of them has actually increased.

Feb 01 14:15

Does the Fed Drive the Price of Gold?

Feb 01 14:02

The Pentagon Has Spent $51 Billion on Useless Projects

Washington made a list of unrealized military projects that resulted in enormous financial losses for the Ministry of Defense... "According to the report of the Center for strategic and international studies USA, since the turn of the millennium, Washington has spent $51.2 billion in 15 projects in the field of military technology and weapons, which were then abandoned because of the sequestration of the military budget," reports the American edition of Business Insider. As was stated to journalists by former U.S. Secretary of Defense Robert Gates, a reduction in military spending is currently the biggest threat to American Defense. $18.1 billion was spent on mysterious "future combat systems". They included the production of new combat vehicles, which were intended for the army, but in the end they were nothing but prototypes the troops never saw...

Feb 01 13:59

BP to announce 70% collapse in profits

Feb 01 13:32

WEEKEND ECONOMIC GLANCE, JAN. 25-31, 2016

The last week has seen a halt in the decline of oil prices once the news got out that Russia and OPEC were in talks about reducing oil production. Furthermore, China has warned George Soros against massive speculation against the Yuan. Meanwhile India and Russia have reached an agreement about the costs of the joint development of a fighter jet. Finally the IMF adjusted its quotas which regulate how much votes every country gets in the decision making process...

Feb 01 13:25

Keiser Report: Tumbling, Fumbling Ruble

In this episode of the Keiser Report coming to you from Moscow, Max Keiser and Stacy Herbert discuss whether or not the price is right for a ruble?

Feb 01 13:21

Congress Declares War (On you and your cash) — Ron Paul

Passage of Senator Mitch McConnell’s authorization for war against ISIS will not only lead to perpetual US wars across the globe, it will also endanger our civil and economic liberties. The measure allows the president to place troops anywhere he determines ISIS is operating. Therefore, it could be used to justify using military force against United States citizens on US territory. It may even be used to justify imposing martial law in America.

Feb 01 13:19

Democracy of the Billionaires

Speaking of the need for citizen participation in our national politics in his final State of the Union address, President Obama said, “Our brand of democracy is hard.” A more accurate characterization might have been: “Our brand of democracy is cold hard cash.”

Feb 01 13:07

Tech could be in trouble, on a break below here, says Joe Friday

Today is the last day of the first month of the year. I favor monthly charts over weekly and weekly charts over daily. Wanted to take a long-term view of the Nasdaq 100 on a monthly basis on this last Friday of the month.

As you can see, the NDX rally off the 2002 and 2009 lows had it back to the highs it hit, at the peak in 2000. At the same time it was getting back to its 2000 levels, it was creating a well defined rising wedge and the apex of this wedge, came into play at the 2000 highs level.

Since hitting 2000 highs and the apex of the rising wedge, the NDX has broken rising support of the wedge. The lowest monthly close since breaking the wedge comes into play at the 4,181 level. Markets are up in pre-market trading, which would suggest that the NDX does not break below the lows set on 9/30/15.

With Tech testing such a key monthly price, I wanted to update what the weakest indices over the past 6-months looks like, see below.

Feb 01 11:50

IS CONGRESS DECLARING WAR ON ISIS... OR ON YOU (& YOUR CASH)?

Passage of Senator Mitch McConnell’s authorization for war against ISIS will not only lead to perpetual US wars across the globe, it will also endanger our civil and economic liberties. The measure allows the president to place troops anywhere he determines ISIS is operating. Therefore, it could be used to justify using military force against United States citizens on US territory. It may even be used to justify imposing martial law in America.

Feb 01 11:42

‘Bond God’ Gundlach: Tick, Tick, Tick…

Feb 01 11:34

Another Hillary Falsehood: She Didn't Tell Banks to "Cut It Out" Pre-Crisis; She Blamed Homeowners

I'm late to correct a Big Lie from the last Democratic debate, in which Hillary astonishingly said went to Wall Street to tell banks to cut our foreclosures in 2007.

I knew this was untrue the minute I heard it because no one in Congress told banks to "cut out" foreclosures even when the crisis got much worse, and least of all, a Blue Dog Democrat who represents Wall Street and became Senator here as opposed to the more logical Illinois with the intent of currying favor with them. Concerned Congressmen were pleading with regulators and making legislative proposals, like for a new Home Owners Loan Corporation, modeled on a successful Depression model. After Obama made it clear he was all in with supporting the banks as of March 2009, there was not much ground for making a case to the banks directly.

Feb 01 09:42

Gold and Silver Bullion Up 5.3% and 3.4% In January as Stocks Fall Sharply

Gold and silver rallied (5.3% and 3.4% respectively) in January, as stocks fell sharply.

Turmoil and sharp falls in Chinese and global stock markets, plunging oil prices, rising stress in credit markets and further signs of weak US and global growth led to a renewed bout of risk aversion in January.

Feb 01 09:39

Compare Reviews for Gold Dealers

Precious metals have value that is separate from currency. Gold and silver often make an appearance in any diversified portfolio. When stock prices are down, the prices for precious metals tend to go up. In recent years, gold and silver have hit record-breaking high prices, so knowing which companies offer the best gold buying experience is important. Gold dealers may offer a variety of services from storage to brokerage, depending on customer needs.

Feb 01 09:37

Democratic Financier George Soros Invested In Firearm Companies While Backing Gun Control Groups

Advocates for divesting from the firearms industry got a boost from Wall Street titan George Soros last week. The billionaire investor is in a strong position to make such a call: He's one of the leading financiers of the gun control movement, and the fund he leads recently owned a piece of the firearms industry.

Webmaster's Commentary: 

Every time the gun-grabbers open their mouths,. gun sales go UP!

Feb 01 09:33

How Do You Know When Your Society Is In The Midst Of Collapse?

What is collapse? How do we define it? And, are some of the notions of collapse in the public consciousness completely wrong?

It’s funny, because skeptics opposed to the idea of a U.S. collapse in particular will most often retort with a question they think I cannot or will not answer – “So, Mr. Smith, when specifically is this supposed collapse going to take place? What day and time?”

My response has always been – “We’re in the middle of a collapse right now; you really can’t see it right in front of your sneering face?”

Feb 01 09:32

Haste Makes Waste? US to Build 500 More Unproven F-35 Jets

Lockheed Martin keeps producing F-35s despite the fact the aircraft’s combat capabilities have yet to be proven. By the time tests will be completed the manufacturer could construct hundreds of new jets that would need costly upgrade.

Feb 01 09:27

Evidence: Is Hillary Clinton behind BLM Land Grab, To Sell Uranium To Russia?

Feb 01 09:24

How Patriots TOOK the Narrative in Oregon.

Feb 01 09:10

The West Is Reduced To Looting Itself — Paul Craig Roberts

I, Michael Hudson, John Perkins, and a few others have reported the multi-pronged looting of peoples by Western economic institutions, principally the big New York Banks with the aid of the International Monetary Fund (IMF).

Third World countries were and are looted by being inticed into development plans for electrification or some such purpose. The gullible and trusting governments are told that they can make their countries rich by taking out foreign loans to implement a Western-presented development plan, with the result being sufficient tax revenues from economic development to service the foreign loan.

Feb 01 09:07

If You Support Hillary PLEASE READ THIS ARTICLE!

Feb 01 08:59

Microsoft and mobile: The headache that won't go away

Microsoft's attempts to break through with its Lumia smartphones have not gone well, so where does it go next?

Webmaster's Commentary: 

"We will FORCE everyone to buy a Lumia, just like we will force them to use Windows 10! Microsoft, Microsoft, Uber Alles!" -- Microblorch

Feb 01 08:38

Monday Mandarin Manufacturing Meltdown

Feb 01 08:31

Stupor Bowl 2016

When I use the phrase Stupor Bowl, I refer not to the upcoming Super Bowl or the crazy mid-winter bicycle free-for-all in Minneapolis, but to the economic game of watching the Bear's Recession Offense crush the Unicorn-believing Bulls.

Feb 01 08:20

We Are Getting To The End -- Nomi Prins

Feb 01 08:05

Tens of Millions Wasted on "Ghost" Schools, and That’s Just the Tip of the Iceberg

"The lack of security has made it almost impossible for many U.S. and even some Afghan officials to get out and manage and inspect US-funded reconstruction projects," he says. The inability to adequately inspect and manage reconstruction efforts has led to extreme waste, including one case where the Afghan government found that millions of dollars had disappeared as Afghanistan paid for "nonexistent 'ghost' schools, 'ghost' teachers, and 'ghost' students."

Webmaster's Commentary: 

I think you will agree that money would have been better spent on schools, teachers, and fixing the water systems inside the US, but the government's attitude seems to be better billions wasted in a war zone than a single penny spent on the taxpayers!

Feb 01 08:03

UK taxpayers should foot £2bn or more to adopt Snoopers' Charter, says Inquiry

The first Parliamentary report into the UK's draft Investigatory Powers Bill, commonly referred to as the "Snoopers' Charter", says it has great potential to damage the nation's technology sector and the public should therefore pick up the tab for the £2bn (US$2.85bn) or so it will require to implement the data-harvesting legislation.

Feb 01 07:59

US Justice Dept hits 80 Swiss banks with penalties

Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department.

Feb 01 07:59

Drug smuggling is HSBC’s raison d’etre

The powerful bank is in the news for attempting to suppress a report into money laundering. This is no surprise as the company’s entire history, right up to the present day, is one of financing drug cartels.

Feb 01 07:57

ICELAND SENTENCES 29TH BANKER TO PRISON, US BANKERS STILL COLLECTING BONUSES

While the world economy struggles to recover from the 2008 financial crisis, most of the bankers who caused the collapse are still collecting massive salaries and have faced few, if any, consequences.

Feb 01 07:54

Central Bank Created Silver Rally

Central banks have created a mess, unless you enjoy unemployment, crashing economies, a wave of bankruptcies, and half of the world’s assets owned by only a few people.

Feb 01 07:50

Clinton (47%), Sanders (54%) Propose Highest Capital Gain Tax Rates (Now 24%) In History

The Clintons supported the Iraq War, had a love fest with Wall Street, and put more African-American in prison than any other administration. Now they're "progressives." I've never seen such falseness in anyone, anywhere, anytime. And I teach law school

Feb 01 07:47

GOLDMAN SACHS: Don't believe the hype, oil is staying below $40

While it looks as if oil might be rising to hit the $50 or $60 a barrel mark cited by energy company execs as the natural price for the commodity in the next few years, Goldman Sachs disagrees:

Feb 01 07:36

The goal of U.S. foreign policy is to support the military-industrial complex through 'interminable war,' reveals former Bush official

As reported by Zero Hedge, retired U.S. Army Col. Lawrence Wilkerson said in a recent interview that the main "purpose" today of American foreign policy "is to support the complex that we have created in the national security state that is fueled, funded and powered by interminable war."

Yes, that classic "military-industrial complex" that President Dwight D. Eisenhower, one of our finest and most successful Army generals, warned Americans about during his final State of the Union Address on Jan. 17, 1961.

Feb 01 07:34

Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country.

Webmaster's Commentary: 

We are seeing that here in Hawaii, along with skyrocketing prices!

Feb 01 07:26

FEEDING THE MILITARY-INDUSTRIAL COMPLEX

Because he had commanded Allied forces in World War II, President Eisenhower understood the excesses of the war industry and warned Americans about the dangers of the military-industrial complex, a force that continues to siphon off tens of billions of tax dollars, as Jonathan Marshall explains.

Feb 01 05:08

San Francisco Super Bowl:

San Francisco Super Bowl: crooked accounting, mass surveillance and a screwjob for taxpayers & homeless people

Feb 01 04:46

Asian Markets Close Mixed: Weak PMI Data Weighs on China

Asian markets traded mixed on Monday with China taking the biggest hit to close in the red. The weak Chinese PMI manufacturing data coupled with decline in oil prices, drove the equity stocks in the region to close mix.
***
SSE Composite index in China closed down 1.78% on Monday after PMI index disclosed contraction in manufacturing and services sector of the country. The Purchasing Managers’ Index (PMI) for manufacturing sector in January dropped to 49.4, its lowest level in three years, from December’s 49.7, according to National Bureau of Statistics (NBS).
***
>The People’s Bank of China (PBOC) also injected around $1.5 billion in cash in the country’s financial system
>China’s Energy sector performed poorly during today’s trading session.
>Hang Seng in Honk Kong closed down 0.45%, erasing early gains.
>Oil prices plunged on Monday during Asian trading hours

Feb 01 00:59

Secret Fed Docs Show Obama Misled Congress, Public During Debt Limit Crises

The staff report, to be released Tuesday, charges that Lew and other Obama administration officials deliberately misled Congress and the public during the federal budget and debt limit showdowns in both years. The committee will convene a public hearing on the report Feb. 2. The report also states that the Obama administration crafted actual contingency plans to pay for Social Security and veterans benefits, as well as principal and interest on the national debt if the government was temporarily unable to borrow more money. The Committee concludes that over the last two years the Treasury Department has “obstructed” congressional efforts to get to the bottom of the administration’s real-time policy during the two showdowns.

Feb 01 00:46

Wall Street Expands Role As ’16 Campaign Bankroller

Wall Street is emerging as a particularly dominant funding source for Republicans and Democrats in the presidential election, early campaign-finance reports filed with the Federal Election Commission show. The trend comes even as candidates seek to cast themselves as uniquely able to take on the bankers and investors who contributed to the economy’s collapse almost a decade ago.

Jan 31 22:27

WalMart “Absolutely Shafted” Washington DC; Here’s How

Someone should be "held accountable" for the hundreds of jobs poor residents won't get thanks to the city's move to aggressively hike the pay floor. But when it comes to who should be held accountable, perhaps you should ask the city's unemployed if they'd rather have a job with the minimum wage at $10/hour or be jobless with the minimum wage at $11.50/hour. Once you get your answer, look inward on the whole "accountability" thing.

Jan 31 21:11

US national debt accelerating at over a trillion/year in our asset-hole ‘debt supply’ system; demanding monetary reform & public banking yet?

*hyperlinks/videos live at source*

hat tip: Prison Planet

The US federal government debt is now $19 trillion, having risen over a trillion each year of the Obama administration.

This article will examine US economic status, and obvious solutions promoted by many of America’s brightest minds since Benjamin Franklin wrote a pamphlet how colonial Pennsylvania operated its government without taxes, and which we could easily do today.

Let’s examine just some of the facts of the current US economy that demonstrates it’s criminal status:

We’ve already documented how the global so-called “elite” 1% are now wealthier than the 99% while ~30,000 children die daily from preventable poverty in gruesomely-slow agony. Just 62 people on Earth own more than the bottom 50%.
The US .1% own more than the bottom 90%.
The top 20 Americans (.000006%) own more than the bottom 50%.

Jan 31 17:54

BLM to lease drilling rights under Lewisville Lake

The Bureau of Land Management will sell a 10-year mineral rights lease for a section of Lake Lewisville at a live auction in Santa Fe, New Mexico on April 20.

The winner will get the rights to extract natural gas locked in the Barnett Shale beneath a 258.9-acre collection of parcels underlying the western arm of Lewisville Lake in the Hickory Creek branch.

The minimum bid is $2 per acre, and BLM charges an annual rental rate of $1.50 per acre for the first five years of the lease, and $2 per acre after that. The lease will remain in effect as long as there is at least one producing well. If gas is produced, the operator would pay a 12.5 percent royalty to be split between the federal government and the State of Texas.

Jan 31 16:27

Youth unemployment in Europe:

Jan 31 16:08

Gold: "It's an Exciting Time Right Now"

Jan 31 15:59

Internet Sector Giving Bulls Glimmer Of Hope?

Jan 31 15:25

The US Plans to Buy 500 Fighter Jets That Don't Work

The F-35 is a $400 billion (and counting) flying nightmare. And the Pentagon wants to buy hundreds of them — "tests" and "modifications" can come later. What can you do with hundreds of billions of dollars? If you're the wealthiest nation on earth with a 20% child poverty rate, the answer is beyond obvious: Let's spend all that money on a fancy airplane that we don't need and doesn't work...

Jan 31 14:53

FINANCIAL MELTDOWN EMINENT!!

Jan 31 14:34

The Home as Miracle Subprime ATM Re-Surges

Jan 31 12:22

Barclays, Credit Suisse Said to Pay $154.3 Million On Dark Pools

Barclays Plc and Credit Suisse Group AG are expected Monday to settle allegations by New York’s top cop and the Securities and Exchange Commission that they misled investors on how they managed their private trading platforms, according to a person familiar with the matter.

Barclays will pay $70 million, split evenly between the two enforcers, the largest fine levied on a dark pool operator, according to the person. Credit Suisse will pay $84.3 million. That payment includes $24.3 million to the SEC for disgorgement and interest, with the remainder split evenly between the two authorities.

(*and how much goes to the misled investors ? )

Jan 31 12:20

Wall Street celebrates mounting signs of US slump

On Friday, the Commerce Department released the latest in a series of economic reports pointing to a dramatic slowdown in the US economy, with vast global implications. The response of Wall Street was a euphoric surge on US markets, sending the Dow Jones industrial average up by nearly 400 points and leading every major stock index around the world to close sharply up for the day.

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