Apr 04 08:34

Blue Cross group sees Obamacare premium payments at 80-85 percent

A leading federation of Blue Cross and Blue Shield health plans said on Wednesday that it is receiving premium payments from 80 to 85 percent of its new Obamacare health insurance customers.

The estimate, released by the Chicago-based Blue Cross Blue Shield Association, reflects enrollment activity among 35 Blue Cross Blue Shield plans in 47 of the 50 states, including plans sold by WellPoint Inc, from October 1 through February 1.

That data could help shed light on the integrity of administration figures that show 7.1 million people have signed up for private health insurance under President Barack Obama's landmark healthcare reform law.

Apr 04 08:30

The Coming Obamacare Shock for 170 Million Americans

Barack Obama declared victory this week as the deadline to avoid the penalty for the individual mandate to carry health insurance passed on Monday. “The Affordable Care Act is here to stay,” the President insisted as he announced that 7.1 million people had enrolled in private insurance through Obamacare. “The debate over repealing this law is over.”

Consider that presidential wish casting in a midterm cycle in which Democrats will have to constantly defend their support for the unpopular law. As Jimmy Fallon pointed out later the same evening, the numbers were neither impressive nor reliable. “It’s amazing what you can achieve when you make something mandatory,” Fallon told his laughing audience, “fine people if they don’t do it — and keep extending the deadline for months.”

Webmaster's Commentary: 

Apr 04 08:27

HHS Started People’s Obamacare Applications For Them Ahead Of Deadline

Before the Obamacare enrollment deadline the people at the Department of Health and Human Services took it upon themselves to obtain individuals’ personal information and start their applications for insurance. Then they mailed the individuals letters informing them that their applications were pending and to go to to confirm the information and complete the process. The Shark Tank reports that this was happening in Florida, but you have to wonder if other states were also sending personal data to HHS to help them get these applications started.

Webmaster's Commentary: 

So HHS was starting enrollments for people then sending letters to get them to click "confirm" on to get the numbers up to Obama's 7 million at the end.

Apr 04 08:25

Why Are Food Prices So High?

Holly Deyo
Activist Post

Everyone is complaining about sky high food prices. Why are they going nuts? The fault is mostly due to harsh weather conditions of drought, vicious storms, floods, soggy soil, hail, frost and ice, and ferocious winds. Escalating extremes have beaten fruits, vegetables and farm animals to death around the world and we're paying for it – literally. In the last 3 years, America was slammed with 32 multi-billion dollar disasters that for the most part, hit during crop-growing seasons. The 2012 Drought / Heatwave alone took a $30 billion bite out of peoples' pockets.

Apr 04 08:24

Zerohedge: three commentary pieces on the economy

A President Who Doesn't Kiss Wall Street's Rear-End

"We're going to be having conversations as this process moves forward directly with these folks on Wall Street to underscore that they have to start acting in a more responsible fashion if we are to, together, get this economy rolling again. There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time."
-- Barack Hussein Obama, President of the United States, talking about Wall Street employees receiving bonuses, 29 January 2009

Part-Time Nation: Number Of High-Wage Jobs Added In March: +2,000

March Payrolls Miss 192K, Below 200K Expected, Unemployment Rate 6.7% Above 6.6% Expected

Apr 04 07:38

Terry Gilliam: The Python Who Renounced His Citizenship

Jeff Berwick
The Dollar Vigilante

Terry Gilliam, one of the "Pythons" of Monty Python fame, renounced his US citizenship in 2006 for one critical reason: "There was the fact that my wife would have had to sell the house to be able to afford to pay the taxes when I died."

This is an issue we write about and discuss regularly here at The Dollar Vigilante. It seems Terry saw the writing on the wall. So-much-so, in fact, he made a movie about what I surmise is basically modern America. (read: Amerika)

Apr 04 07:21

Russia's banking system to survive possible Western sanctions - Central Bank

Russias's Central Bank has weighed the results of possible sanctions by the West and they will not be fatal for Russia's banking system, Central Bank's First Deputy CEO Alexei Simanovsky said on Friday.

Apr 04 07:20

Russian MP calls to close all McDonald's in Russia and then proceed to Pepsi

Leader of the Liberal and Democratic Party of Russia, LDPR, Vladimir Zhirinovsky, wants all McDonald's fast food restaurants in Moscow and throughout Russia closed.

Apr 04 07:02

Turns Out, Even The Price Of Beer Is Rigged

Apr 04 06:50

U.S. creates 192,000 jobs in March

Every industry except manufacturing added to payrolls, with job gains strongest in the professional ranks and bars and restaurants, the Labor Department reported Friday. Manufacturers shed 1,000 jobs.

Webmaster's Commentary: 

So, jobs to make products to sell declined, but there are more people serving food at minimum wage, which sounds good until you remember that a lot of companies are letting go their full time workers and hiring multiple part time workers to evade Obamacare, but the Labor Department counts a part time job as the same as a full time job for the purpose of the unemployment propaganda.

Apr 04 06:47

“7 million” number yet more propaganda: Study suggests barely 858,000 previously uninsured Americans have enrolled and paid premiums

That’s fewer than 1 in 300 Americans.

But the president is touting 7 million signups. What gives?

It’s called spin, propaganda, BS.

Apr 04 05:40

Today’s Spot (*Gold&Silver)

Today’s Spot gold per gram Gold price per ounce Spot silver rates market news April 4, 2014

Apr 03 23:02

Mr. Rosenberg’s Conundrum - An Analysis by Lawrence Davidson

The truth is that a two state solution has been taken off the table by the Israelis themselves. We are left with a unitary Zionist state. The answer to the question of whether such a state is compatible with justice for the Palestinians is simply no. Zionism, like apartheid before it, has to go - for the sake of the Palestinians and also for a more promising future for the Jews.

Apr 03 21:04

Putin Flushes the US Dollar: Russia’s Gold Ruble Payments System Delinked from Dollar?

Putin has been preparing this move — the creation of a payment system in rubles completely independent and protected from the Dollar and the “killer speculations” (e.g. short-selling) of the big Western financial institutions — for a long time.

After sanctioning several Russian banks to punish Russia for Crimea, the Washington politicians were told by the financial power-to-be to step back because obviously, the Wall Street vampires understand that putting Russian banks outside the reach of their blood sucking teeth is never a good idea.

Apr 03 19:14

The US-EU Trans-Atlantic Free Trade Agreement (TAFTA). Devastating Social and Environmental Consequences

We can be sure that a select few very rich and powerful people will do very nicely out of this agreement.

Apr 03 18:32

Shocking Facts About The Deindustrialization Of America That Everyone Should Know

How long can America continue to burn up wealth? How long can this nation continue to consume far more wealth than it produces? The trade deficit is one of the biggest reasons for the steady decline of the U.S. economy, but many Americans don't even understand what it is. Basically, we are buying far more stuff from the rest of the world than they are buying from us. That means that far more money is constantly leaving the country than is coming into the country. In order to keep the game going, we have to go to the people that we bought all of that stuff from and ask them to lend our money back to us. Or lately, we just have the Federal Reserve create new money out of thin air.

Apr 03 18:30

'The Fruits of Socialism': I Can't Even Stand to Watch the Rest of this Video

Is this even real? Someone said it's just a progressive liberal posting an honest vlog, but if this is real, it's a sad, sad commentary on America's modern welfare state.(video)

Apr 03 14:09

‘Hope-For-Growth Momentum Investing’

Apr 03 13:34

Shocking Facts About The Deindustrialization Of America That Everyone Should Know

How long can America continue to burn up wealth? How long can this nation continue to consume far more wealth than it produces? The trade deficit is one of the biggest reasons for the steady decline of the U.S. economy, but many Americans don't even understand what it is. Basically, we are buying far more stuff from the rest of the world than they are buying from us. That means that far more money is constantly leaving the country than is coming into the country. In order to keep the game going, we have to go to the people that we bought all of that stuff from and ask them to lend our money back to us. Or lately, we just have the Federal Reserve create new money out of thin air. This is called "quantitative easing". Our current debt-fueled lifestyle is dependent on this cycle continuing. In order to live like we do, we must consume far more wealth than we produce.

Apr 03 13:02

US facing financial doomsday over Russia sanctions: Analyst

The United States is likely to experience a financial “doomsday” as a result of its imposition of sanctions on Russia following Crimea’s secession from Ukraine, says analyst Eric Draitser.

Apr 03 12:59

Cross of Iron Speech

Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed.

This world in arms in not spending money alone.

It is spending the sweat of its laborers, the genius of its scientists, the hopes of its children.

The cost of one modern heavy bomber is this: a modern brick school in more than 30 cities.

It is two electric power plants, each serving a town of 60,000 population.

It is two fine, fully equipped hospitals.

It is some 50 miles of concrete highway.

We pay for a single fighter with a half million bushels of wheat.

We pay for a single destroyer with new homes that could have housed more than 8,000 people.

This, I repeat, is the best way of life to be found on the road the world has been taking.

This is not a way of life at all, in any true sense. Under the cloud of threatening war, it is humanity hanging from a cross of iron.

Apr 03 12:58

Lawsuit Filed Against Nevada Health Exchange

Just days after the deadline to enroll for insurance coverage through Nevada Health Link, the first class-action lawsuit has been filed on behalf of residents who say they signed up and paid their premiums – but were never given coverage.

Law firm Callister & Associates filed the lawsuit on behalf of Larry Basich, who signed up for state health insurance and paid premiums as far back as November, but then was not covered following a Jan. 3 triple bypass procedure that saw his $400,000 in medical expenses passed between the wrong insurance companies, the Las Vegas Review-Journal reports.

Apr 03 12:06

Unpaid Italian council worker in self-immolation threat

A man in southern Italy threatened to set himself on fire after waiting months for the town council to pay him, local police said.

Apr 03 11:50

How Increasing Numbers of Americans are Saying 'No Deal' to Absurd Inequality

Every year I ask my class on “Wealth and Poverty” to play a simple game. I have them split up into pairs, and imagine I’m giving one of them $1,000. They can keep some of the money only on condition they reach a deal with their partner on how it’s to be divided up between them. I explain they’re strangers who will never see one other again, can only make one offer and respond with one acceptance (or decline), and can only communicate by the initial recipient writing on a piece of paper how much he’ll share with the other, who must then either accept (writing “deal” on the paper) or decline (“no deal”).

Apr 03 11:18

Bernie Sanders: Supreme Court is paving the way to an oligarchic society

Sen. Bernie Sanders (I-VT) blasted the U.S. Supreme Court’s decision on Wednesday to abolish overall federal campaign spending limits, meaning that wealthy individuals now have carte blanche to spend as much as they like to affect the outcomes of federal elections.

“Freedom of speech, in my view, does not mean the freedom to buy the United States government,” said Sanders in a statement.

Webmaster's Commentary: 

The Supreme Court is wrong, and so are the defenders of what they describe as 'freedom of speech'. Money steals equality in representation.

Apr 03 10:17

Swiss snub US effort to sanction Russian billionaires

Russian officials sanctioned by the European Union will be barred from new business interests in Switzerland but billionaires included on the United States sanctions list face no restrictions, the Swiss government said on Wednesday.

Apr 03 10:08

Police cadets in New Mexico trained to have “warrior mentality” and to use more deadly force

The face of evil IMHO! This is why all the police murders of Americans by APD!

The director said he'd rather burn his curriculum than disclose it to the media. NEW MEXICO — All new police cadets will be trained to use more deadly force — not less — thanks to a new curriculum by director of the state’s Law Enforcement Academy. Cadets are being trained by the former Army Colonel to have a “warrior mentality” with a strong emphasis on “Officer Survival.” The cadet program, which has also been shortened by six full weeks, leaves cadets more paranoid and more prone to use deadly force, critics say.

Jack Jones, a retired Army colonel, was granted sole authority by the LEA over the training curriculum given to all of New Mexico’s new recruits. He says the old model was too restrictive with the use of deadly force.

“Evil has come to the state of New Mexico. Evil has come to the Southwest. Evil has come to the United States,” Jones said to the Santa Fe New Mexican.

Apr 03 09:43

Global Power Structures: Masterlist of 1,150 NGOs and 300 Key People in Them

"[Think tanks] exert definite and even considerable influence on the process of elaborating and making political decisions. It is connected with the fact that ... leaders of such centers have as a rule personal close links with the [government]. Second, the centers are created in order to prepare and adopt the major political decisions in the shade, far from public. Third, such analytical and expert centers really accumulate the best intellectual forces of the country and fourth, not always but rather often, the centers were founded simply to provide jobs to [retired] politicians."

Notice that Henry Kissinger is first on the list with 104 known associations.

Apr 03 09:42

DOD refuses to buy sneakers Made in America

Apr 03 09:37

Palestine, Egypt and Syria: New Lows for Obama’s Failed Middle East Policy

Unfortunately, peace is never as profitable as war. If Obama leaves the Middle East, Russia and China will fill in the gaps, slurping up the profits that would have otherwise gone to U.S. corporations. And if U.S. corporations felt that they were making enough profit at home, they’d politely bow out of the contest, especially since U.S. foreign policy has been one Godzilla-like disaster after another.

Webmaster's Commentary: 

This is the reason that no matter how the American people don't want another war, the US government is slouching toward creating it to satiate the financial lusts of the corporate money junkies who they serve, and whose campaigns they fund.

Apr 03 09:31

9 of the top 10 occupations in America pay less than $35k a year

According to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year. When you break that down, that means that most of these workers are making less than $3,000 a month before taxes. And once you consider how we are being taxed into oblivion, things become even more frightening.

Apr 03 09:19

Michael Rivero: All Wars Are Bankers’ Wars!

Many people have a great deal of difficulty comprehending just how many wars are started for no other purpose than to force private central banks onto nations, so Michael Rivero details the history so that people can understand why the US Government is mired in so many wars against so many foreign nations.

The path to true peace on Earth lies in the abolishment of all private central banking everywhere, and a return to the state-issued value-based currencies that allow nations and people to become prosperous.

Watch the Video of Michael Rivero’s history of Wars started by the international Private Central Bankers.

Video and Transcript with links:

Apr 03 08:45

Gold Makes A Move And Here Is Why

Apr 03 07:59

Zerohedge: The Lies We Tell Ourselves

Very nice work on the futility of digging thru the BS just to find more BS...

Apr 03 07:27

What About The Dollar: Russia, Iran Announce $20 Billion Oil-For-Goods Deal

Spot what is missing in the just blasted headline from Bloomberg:


If you said the complete absence of US Dollars anywhere in the funds flow you are correct. Which is precisely what we have been warning would happen the more the West and/or JPMorgan pushed Russia into a USD-free corner.

Webmaster's Commentary: 

In these moves, the US government has done a magnificent job of cutting off its nose to spite its face, economically.

Bravo, US government, just brilliant!!

Apr 03 07:11

9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year

According to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year. When you break that down, that means that most of these workers are making less than $3,000 a month before taxes. And once you consider how we are being taxed into oblivion, things become even more frightening. Can you pay a mortgage and support a family on just a couple grand a month? Of course not. In the old days, a single income would enable a family to live a very comfortable middle class lifestyle in most cases. But now those days are long gone.

Apr 03 07:04

Major drop in Russian trade

Reports in the press this week state that Poland’s exports to Russia could potentially fall by as much as 40 percent due to a number of reasons.

Apr 03 07:01

The Bankers Manifesto of 1892

Apr 03 06:54

Monsanto ordered to stop making false advertising claims about GMOs in South Africa

As genetically modified crops fail in several regions around the world and are exposed as a detriment to health, many are beginning to see right through the high-dollar false advertising claims projected by biotech corporations like Monsanto.

(Note that in the 40s and 50s Monsanto made false safety claims about their own insecticide, DDT. By 1972, independent research showed the horrific consequences of this insecticide which ultimately led to the chemical being banned worldwide.)

Apr 03 06:53

Underground Commerce is the Real Economy

This shadow commerce, practiced throughout the world, is the real economy. Actually, in the United States, tax compliance is quite high by comparison. With the acceptance of instruments of credit, the banking system has become more of a tax reporting service than a financier of a healthy economy. The taxman would have you believe that voluntary transactions in cash constitute a black market in illegal dealing. Casting the dispersion of seedy activities upon the motivation to subsist is a common practice of governmental revenue agents.

Apr 03 06:24

RT: worldwide fascist grunch takeover

Pyrrhic victory for whistle blowers on Transatlantic Trade Agreement

For every scummy treaty the whistle blowers expose - how many have been completed in secret?

Apr 02 22:53

New 3-D printed ammo to end ammo drought

4.1.2014, Palermo, Italy – Italian 3D-printing startup, Brachia Caeli Industries (BCI) announced today at a press conference that it had successfully printed fully functional centerfire ammunition. This comes on the heels of December’s congressional ruling that the Undetectable Firearms Act (UFA), which bans guns not visible to metal detectors or x-ray scanners, does not apply to 3-D printed arms.

Apr 02 17:45

RIGGED: The Truth About the Federal Reserve

Apr 02 16:45

Two polls show Ukip leader Nigel Farage triumphant in 2nd live debate with Lib Dem leader Nick Clegg

Mr Clegg challenged Mr Farage to the debates ahead of elections to the European Parliament in May 22. Tonight they clashed on immigration, laws, jobs and European foreign policy.

In a rallying cry to Eurosceptics, Mr Farage urged voters to join his 'People's Army' to leave Brussels, warning without change the EU would end 'very unpleasantly'.

He said: 'This is our country. It is a very good country. It is a country that developed the principle of parliamentary democracy. it has been given away through a whole series of lies and deceit.

'Let's take back control of our our borders. Let's stop giving £55million a day as a membership fee of a club we don't need to be part of.

Apr 02 15:32

9 Of The Top 10 Occupations In America Pay An Average Wage Of Less Than $35,000 A Year

According to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year. When you break that down, that means that most of these workers are making less than $3,000 a month before taxes. And once you consider how we are being taxed into oblivion, things become even more frightening. Can you pay a mortgage and support a family on just a couple grand a month? Of course not. In the old days, a single income would enable a family to live a very comfortable middle class lifestyle in most cases. But now those days are long gone. In 2014, both parents are expected to work, and in many cases both of them have to get multiple jobs just in order to break even at the end of the month. The decline in the quality of our jobs is a huge reason for the implosion of the middle class in this country.

Apr 02 15:02

2014 Real Estate Market Ready To EXPLODE

Apr 02 14:53

David de Rothschild's World Jewish Congress meeting in Paris

The Council consists of 49 members, plus the representative of the United States, Ambassador Ira Forman, in charge of the fight against anti-Semitism. It includes two French members, Roger Cukierman (CRIF president and vice-president of the World Jewish Congress) and David de Rothschild (President of the Foundation for the Memory of the Shoah and Board member of the World Jewish Congress).

Apr 02 14:45

Ukrainians Get IMF’s Bitter Medicine

Though lacking legitimacy from national elections, Ukraine’s coup regime has approved a harsh IMF austerity plan that hits Ukraine’s “99 percent” the hardest and asks little from the country’s “1 percent,” including the corrupt “oligarchs,”

Apr 02 13:43

The Old World Order Is Over

In the gilded ballroom of Hyatt’s Savoy ballroom, World War D‘s opening speaker Dr Mark Faber delivered a blunt message: the old world order is over.

‘The US reached a peak in prosperity and influence in the world in the 1950s or 1960s,’ said Faber. But since the 70s the superpower has been locked into a cycle of bubbles, busts and growing debt.

Apr 02 13:19

Double Whammy Shocker From Goldman Which Is Also Waving Goodbye To The NYSE

Long-time readers may recall that in the early days of this website, in addition to HFT, one of our market structure pet peeves was the fact that Goldman Sachs was a Designated Market Maker on the NYSE, reaping various benefits primarily as a result of the firm's role as of one of the only Supplementary Liquidity Providers at the stock exchange - a form of slower HFT "liquidity provider" if you will.

Apr 02 12:45

US military protecting international banking cartel

For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currency, effectively making the US military the armed wing of the international banking cartel (IBC).

Webmaster's Commentary: 

The secret is out!


Apr 02 12:44

Buying the U.S. Government

Today's devastating Supreme Court decision in McCutcheon v. FEC, aka Citizens United Round 2, further cements our plutocracy, thus "opening the floodgates for the nation’s wealthiest few to drown out the voices of the rest of us." =

Apr 02 12:27

The EU’s “Economic Time Bomb”

On March 20, 2014, European Union officials reached an historic agreementto create a single agency to handle failing banks. Media attention has focused on the agreement involving the single resolution mechanism (SRM), a uniform system for closing failed banks. But the real story for taxpayers and depositors is the heightened threat to their pocketbooks of a deal that now authorizes both bailouts and “bail-ins” – the confiscation of depositor funds. The deal involves multiple concessions to different countries and may be illegal under the rules of the EU Parliament; but it is being rushed through to lock taxpayer and depositor liability into place before the dire state of Eurozone banks is exposed.

Apr 02 11:31

W(h)ither Petrodollar: Russia, Iran Announce $20 Billion Oil-For-Goods Deal

Spot what is missing in the just blasted headline from Bloomberg:


If you said the complete absence of US Dollars anywhere in the funds flow you are correct.

Apr 02 09:32

Chrysler recalling 870,000 SUVs due to brake defect

Chrysler is recalling nearly 870,000 SUVs because corrosion may make the vehicles' brakes harder to use.

Jeep Grand Cherokee and Dodge Durango SUVs from the 2011 through 2014 model years are involved.

Chrysler says crimp joints in the brake boosters can corrode if they're exposed to water. If the water freezes, the boosters won't aid braking as they usually do.

Webmaster's Commentary: 

Who designs a brake system without knowing it will be exposed to water, mud, and road salt in the winter?

Apr 02 09:00

Offshore firms took 50% of H-1B visas in 2013

The U.S. today began accepting H-1B visa applications for the next fiscal year, with heavy demand expected. The visas will likely all be claimed by end of this week, and a major share of the H-1B visas will go to firms that use visa holders to displace U.S. workers.

Apr 02 08:59

Harry Reid dismisses cancer patient Tom Coburn's Obamacare concern

When Sen. Tom Coburn, R-Okla., pointed out that the majority of cancer centers in the country aren't covered under Obamacare while arguing that the law's problems go beyond early website issues, Senate Majority Leader Harry Reid, D-Nev., dismissed the critique as too "in the weeds."

Apr 02 08:23

Billions in hidden subsidies going to too-big-to-fail banks

As the first round of submissions to the Federal Government's Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the banking system.

Webmaster's Commentary: 

Because when you have a privately-owned central bank issuing the public currency as a loan at interest, the debt always grows faster than the available money supply until that debt strangles the economy or triggers a war of conquest to balance the books.

Apr 02 08:18

US pyromaniacs to ignite all-out war in Europe: Analyst

An analyst says the US is prepared to sacrifice millions of lives for its own selfish strategic interests by pushing Europe into an all-out war with Russia, Press TV reports.

“The US is prepared to plunge Europe into a war with Russia in order for Washington to preserve its hegemony over the transatlantic axis,” Finian Cunningham wrote in a column for the Press TV website.

He said a war would be aimed at preventing Russia and Europe from developing closer trade and political ties and preserving the American dollar as the world's reserve currency.

Apr 02 07:37

Furious Russia Will Retaliate Over "Illegal And Absurd" Payment Block By "Hostile" JPMorgan

While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that "Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer "Under Pretext" Of Sanctions." This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with "Russian threat to retaliate over JPMorgan block." And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious

Apr 01 16:06

"Nail Gun Suicide" Banker's Firm Probed Over Missing Millions

Just a few short weeks ago we reported on the unusual suicide, due to self-inflicted nail-gun wounds, of Richard Talley, CEO of Denver-based American Title Services. The death of the 57-year-old banker was accompanied by the fact that his firm was under investigation by the insurance regulators, and now, as The Denver Post reports, state prosecutors launched a criminal investigation and a grand jury over more than $2 million missing from escrow accounts. As part of that inquiry, investigators have seized about 100 boxes of documents and about 60 computers as records suggest the seemingly successful title business had serious financial problems. Talley's wife, Cheryl, who owns the other 60% of the firm has not commented.

Apr 01 11:06

12 Largest Banks Sued By Public Retirement Funds For "Conspiring To Rig Global FX Markets"

Why did Goldman decide to scrap its once uber-profitable FX vertical and redo it from scratch? Simple - the ability to rig and manipulate FX markets, which are now under every global regulator's microscope after the "Cartel" members so foolishly let themselves be exposed to the entire world, is no longer there, as confirmed last night by news that a dozen large investors have filed a joint lawsuit against 12 banks for "allegedly conspiring to rig global foreign-exchange prices." Allegedly? Hasn't everyone read the Cartel chatroom transcripts yet?

Apr 01 11:04

Poverty among black children ‘should be considered a national crisis’

African-American children’s poverty, poor housing and lack of access to education pose a national crisis, said a report released Tuesday that found a wide gap in well-being among U.S. children of different races.

In almost every region of the United States, African-American, Latino and Native American children face far greater barriers to their future success than their white and Asian counterparts, according to the study by the Annie E. Casey Foundation, which aims to improve the life of all children.

The “Race for Results” report used 12 indicators and a single composite score to determine a child’s chance at future success. The factors included whether the children were born at normal birth weight, if they were enrolled in preschool by the ages of 3 to 5, whether they lived with an adult who has at least a high school diploma, and their proficiency at reading and math during elementary and middle school.

Webmaster's Commentary: 

This is a national scandal, and a damned shame, in the 21st century.

But the difficulty is, every time this country has announced a "war" on some social issue, the problem gets worse.

The best family outcomes I have seen have come from a healthy combination of love and structure. When kids have that, it allows them to develop a healthy self image, based on fact, and they can really accomplish what they want to do in life.

So what can be done?!? I think that the more time we spend on the front end, when kids are little, with intense, proven methods of education, the cycle can be broken.

And as crazy as it sounds, legalizing drugs for personal use will financially break the backs of the gangs, which for many of these kids, are the only real "family" they think they have.

By the time these kids hit their teenage years, and consider Juvenile Hall stays a "right of passage" in their communities, it is very late in the game to change or influence behaviour.

But it's not just the kids who need an education; it is the adults in those families learning how to better parents which is critical. No parent in their right mind thinks that they want their child doomed to failure, intermittent jail stays, and and early death: they just don't have the skills to be better parents.

Instead of investing in these horrific wars without end, and the weapons used to fight them, this country would do well to invest in its at-risk youth in a smart, positive way. Otherwise, this downward spiral may well become a permanent aspect of American life, and that would be a real tragedy for this country.

Apr 01 11:02

$50 Billion Kashagan Oil Development Isn't Working

Kashagan is one of the world's most ambitious oil developments and the biggest new field in decades. But despite $50 billion in investment by some of the world's largest oil companies and the Kazakhstan government, the Caspian Sea-based project isn't working.

Apr 01 10:42

The New Nihilism

A new nihilism is starting to appear in the United States. Like the Lost Generation, this malaise proceeds from multiple sources.

First and foremost is the reality of ongoing wars, inevitably leading to a new global war, started with the very weapons that ended the last global war. Having been raised with decades of dire warnings about how nuclear weapons can end the world amid cold-war exhortations to build personal fallout shelters, it should not come as a surprise that most people equate the current military buildup as a prelude to that much predicted end of the world. This is not metaphor; the kids with those brass keys in the silos can really do it. Who wants to work hard to build a future that might vanish in a flash of white light?

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Apr 01 10:10

60 Minutes Sanitizes Its Report on High Frequency Trading

This past Sunday night, 60 Minutes’ Steve Kroft sat down with noted author Michael Lewis to discuss his upcoming book, “Flash Boys,” and its titillating revelations about how high frequency traders are fleecing the little guy.

Kroft says to Lewis: “What’s the headline here?” Lewis responds: “Stock market’s rigged. The United States stock market, the most iconic market in global capitalism is rigged.”

Kroft then asks Lewis to state just who it is that’s rigging the market. (This is where you need to pay close attention.) Lewis responds that it’s a “combination of these stock exchanges, the big Wall Street banks and high-frequency traders.” We never hear a word more about “the big Wall Street banks” and no hint anywhere in the program that the New York Stock Exchange and Nasdaq are involved.

Apr 01 08:09

DNC Chair Can't Name A Single Problem She Would Fix In ObamaCare

Apr 01 07:34

GM adds 1.3 million cars to growing recall list as hearings looms

General Motors Co. GM +1.15% added another 1.3 million vehicles Monday to its growing list of cars in dire need of repair.

The problem this time? Power steering.

According to the company, seven models made between 2004 and 2010 could “experience a sudden loss of electric power steering assist.” While that doesn’t mean the cars can no longer be steered, it does mean it would be physically harder for the driver to turn the steering wheel, especially at slow speeds. And the company warns that could increase the risk of a crash.

Webmaster's Commentary: 

I can understand Top Gear's Jeremy Clarkson's disdain for American-made cars.

Apr 01 07:29

Coldwater Said to Prepare Bankruptcy Filing After Sale Bid

Coldwater Creek Inc. (CWTR:US), a women’s clothing retailer that hasn’t been profitable since 2007, may seek bankruptcy protection as soon as this week, according to three people with knowledge of the matter.

Apr 01 07:26

Jim Willie: Ukraine is the Waterloo Event for the US Dollar!

The desperation of the Anglo-American leadership, guided by the steady corrupt banker hands, has never been more acutely high, nor obvious in full view. The entire Ukraine situation is a travesty. It includes Langley agents killing police and street demonstrators from rooftops, the confirmation coming from the Estonian Embassy (translation of scripts). It includes thefts of official Ukrainian Govt funds, again sent to the Swiss hill sanctuary. It includes sanctions delivered by a US Paper Tiger, sure to cause horrific backlash.

Apr 01 07:25

Fizzy drinks fall flat as soda sales decline in U.S. even faster than expected

Americans cut back on soda at an accelerated pace last year, underscoring the difficulties Coca-Cola and PepsiCo face in winning back customers.

U.S. sales volume of carbonated soft drinks fell 3 percent in 2013, extending a streak of declines that began nearly a decade ago.

Apr 01 07:23

Shocking ’60 Minutes’ Report Will Shake Wall Street To Its Core!

The bombshell ’60 Minutes’ report below just released last night will shake Wall Street to its core. Exposing that Wall Street is rigged to the benefit of certain insiders who have made BILLIONS of dollars via computerized trading, this report should bring Wall Street to its knees.

Apr 01 07:21

'Playboy CEO stole $7 MILLION of company money to fund luxury lifestyle including splashing $171,000 on a Tiffany engagement ring and $90,000 on a trip to Vegas'

A New York-based Australian playboy is accused of embezzling over $7 million from his own mining company to fund ‘a high-class lifestyle for himself and his girlfriends,’ including private jets, a luxury yacht and a $171,000 Tiffany engagement ring for his Brazilian fiancée, a new lawsuit claims.

Apr 01 07:19

High Frequency Trading: Why Now And What Happens Next

Update: within minutes of publishing this article news hit that the FBI is launching a probe into HFT. QED

For all the talk about how High Frequency Trading has rigged markets, most seem to be ignoring the two most obvious questions: why now and what happens next?

After all, Zero Hedge may have been ahead of the curve in exposing the parasitism of HFT (anyone who still doesn't get it should read the following primer in two parts from Credit Suisse), but we were hardly alone and over the years many others joined along to expose what is clear market manipulation aided and abeted by not only the exchanges but by the regulators themselves who passed Reg NMS - the regulation that ushered in today's fragmented and broken market - with much fanfare nearly a decade ago. And yet, it took over five years before our heretical view would become mainstream canon.

Apr 01 07:17

Jim Rogers Says "Abolish the Fed and Resign"

Apr 01 06:32

Detroit to Shut Off Water Services in 140,000 Homes

Spring is usually a time of relief for people tired of the cold winter, but in Detroit the warming weather comes with a threat: once it’s warm enough that you won’t freeze to death, we are cutting off your utilities.

Anyone who follows the news knows that Detroit has fallen on some hard times. In 2013, the city filed for Chapter 9 bankruptcy, the largest city ever to do so. In an effort to get their financial woes behind them the city is turning to some less-than-compassionate means: Looking for ways to recuperate money, the city’s water company is going after the city’s residential customers who are behind on water payments, which is a lot of them.

That edict has the potential to affect an astonishing 140,000 homes around Detroit.

Webmaster's Commentary: 

If the city is stupid enough to actually do this, there will be riots three days later.

Mar 31 13:34

Is There Any Gold Left For Central Banks To Buy?

Jeff Nielson: Here is a conundrum for readers to unravel. Throughout 2011, 2012, and early into 2013; central banks in Eastern and Emerging Market nations went on the largest (official) gold-buying binge in history. This occurred as the currencies of these nations were relatively stable, and thus “inflation” pressures were relatively muted.

Now flash-forward to early 2014. We have what the mainstream propaganda machine is calling “the crises in Emerging Market currencies” (versus all the currencies of the corrupt, Western bloc). Let’s put aside the fact that the “collapse” of these currencies is just another mega-crime from the One Bank – committed while its banker-felons are currently being investigated for serial currency-manipulation.

Mar 31 12:32

FLASHBACK - Speed Traders Meet Nightmare on Elm Street With Nanex

The nemesis of Wall Street’s high-frequency traders operates out of an apartment-sized office above the Bliss Salon -- manicure/pedicure $45 -- on Elm Street in the Chicago suburb of Winnetka.

Staring at four computer monitors,Eric Scott Hunsader, the founder of market-data provider Nanex LLC, looks for hints of illicit trading hidden in psychedelic images of triangles dancing with dots that represent quotes to buy and sell U.S. stocks broken down by the millisecond.

Charts of trading produced by Hunsader’s eight-person firm have captivated everyone from regulators to art gallery owners. One stunt involved a computerized piano piece mimicking quotes for an exchange-traded fund. He infuriates some traders, who say Nanex draws unwarranted conclusions and spreads conspiracy theories.

Mar 31 12:01

Exclusive: U.S. Taxpayers To Spend $400,000 For A Camel Sculpture In Pakistan

The State Department is planning to spend $400,000 in taxpayer funds to buy a sculpture for the new American embassy being built in Islamabad, Pakistan, according to contracting records.

Mar 31 12:00

Bank of Hawaii is Closing The Accounts of Iranian Citizens

Bank of Hawaii is closing the accounts of Iranian nationals living in the state, a move that is angering Iranian activists and civil rights supporters.

A national Iranian organization sent a letter to the bank last week protesting the action.

“Bank of Hawaii has made a business decision to close all accounts belonging to customers with Iran citizenship,” according to a letter from the bank sent to 17 Iranian nationals in December.

Mar 31 11:47

Dear Unnamed "Significant Financial Institution": The DOJ Has Some Very Bad News For You

Fox Business' Charlie Gasparino leaks a hint that it may be, surprise, an High Frequency Trading firm (not really, considering Goldman is now actively bashing High Frequency Trading itself and promoting its own-supported IEX exchange, a move that has left many stunned)"

Mar 31 10:59

Instant Classic: Sebelius Literally Speechless After She’s Told How Unpopular Obamacare Is…

Mar 31 10:26

Putin Flushes the US Dollar: Russia’s Gold Ruble Payments System Delinked from Dollar?

Putin has been preparing this move — the creation of a payment system in rubles completely independent and protected from the Dollar and the “killer speculations” (e.g. short-selling) of the big Western financial institutions — for a long time.

After sanctioning several Russian banks to punish Russia for Crimea, the Washington politicians were told by the financial power-to-be to step back because obviously, the Wall Street vampires understand that putting Russian banks outside the reach of their blood sucking teeth is never a good idea.

For Wall Street and the city’s financial services, countries like Russia should always have an open financial door through which their real economy can be periodically looted. So Washington announced that it was a mistake to enforce sanctions on all Russian banks; only one, the Rossiya bank shall be hit by sanctions, just for propaganda reasons and to make an example out of it.

Mar 31 10:21

The Start Of Food Shortages: Wheat Prices Soar Due to Ukraine Instability

The instability in Ukraine, and the annexation of Crimea has started to show up in the price of basic commodities such as wheat. Although the economic sanctions imposed on Russia by the USA and Europe were aimed at bringing Putin to heel, politicians have shown a flagrant disregard for the knock on effects of such sanctions.

Mar 31 10:20

Israel Banks on 10 More Years of US Aid

Despite misgivings over US President Barack Obama’s Mideast agenda and deep-rooted doubts about his ability to prevent a nuclear-armed Iran, the Israeli government is taking the US president at his word that it can expect another decade of military aid.

In fact, it’s banking on it.

Webmaster's Commentary: 

But Detroit can go pound rust!

Mar 31 10:04 crashes on day of deadline for enrollment under Affordable Care Act, the troubled website set up to help Americans choose and enroll in a health care policy, crashed early Monday morning, on the final day to begin the process to apply for health insurance.

Webmaster's Commentary: 

Mar 31 10:00

U.S. Government Gives Out $164 Billion in "No Bid Contracts" in One Year

Although all federal contracts are supposed to be put out to bid, more than a third of them are non-competitive, that is there is only one vendor bidding on the chance to sell U.S. taxpayers goods and services.

The General Accounting Office (GAO) said that in fiscal 2013, the federal government agreed to $459 billion in contracts to purchase goods and services. Of that total, about $164 billion, or 35.7%, was in noncompetitive contracts.

Mar 31 09:53

260,000 graduates in minimum wage jobs

If you thought paying tens of thousands of dollars for a college education guaranteed a high-paying job, think again.

About 260,000 people who had a college or professional degree made at or below the federal minimum wage of $7.25 per hour last year, according to the Bureau of Labor Statistics.

Mar 31 09:50

Remember when?

Remember when they promised the website would be functional on October 1, 2013?

Mar 31 09:47

David Stockman: Why We Are Plagued With Drivel Masquerading As Financial Reporting

One of the evils of massive over-financialization is that it enables Wall Street to scalp vast “rents” from the Main Street economy. These zero sum extractions not only bloat the paper wealth of the 1% but also fund a parasitic bubble finance infrastructure that would largely not exist in a world of free market finance and honest money.

The infrastructure of bubble finance can be likened to the illegal drug cartels. In that dystopic world, the immense revenue “surplus” from the 1000-fold elevation of drug prices owing to government enforced scarcity finances a giant but uneconomic apparatus of sourcing, transportation, wholesaling, distribution, corruption, coercion, murder and mayhem that would not even exist in a free market. The latter would only need LTL trucking lines and $900 vending machines.

Mar 31 09:47

Flexing Control, Russia Raises Pensions for Crimeans

Moving quickly to envelop Crimea in the Russian bureaucracy and economy, the Kremlin announced plans on Monday to nearly double retirement pensions paid to the elderly on the peninsula, raising them to the average levels paid in Russia.

Webmaster's Commentary: 

Here in the US, the rush is on to cut Social Security benefits.

Mar 31 09:46

Is the U.S. stock market rigged?

Mar 31 09:08

U.S. judge OKs class action in e-book suit against Apple

A federal judge in New York granted class certification on Friday to a group of consumers who sued Apple Inc for conspiring with five major publishers to fix e-book prices in violation of antitrust law.

Mar 31 08:47

Iraq Buys $1.56 Bln of Gold, Biggest Purchase in 3 Years

Iraq bought 36 metric tons of gold this month valued at about $1.56 billion in the largest purchase by a nation in three years.

Mar 31 07:36

House GOP investigators say regulators twice declined to probe faulty GM vehicles

Congressional investigators said Sunday that federal regulators had declined on two separate occasions to open formal probes into complaints about an ignition switch defect in certain General Motors cars.

The finding was announced in a memo prepared by staffers on the House Energy and Commerce Committee as part of a continuing investigation into events surrounding GM's eventual recall of 2.6 million small cars due to the defect, which has been linked to 13 deaths in traffic accidents. The investigators also determined that GM rejected a proposed fix for the problem in 2005 due to both the length of time needed for repair and the costs involved.

Webmaster's Commentary: 

This seems to be a pattern in the US Government. They are always ready to harass ordinary people for the slightest crime, even the imagined crime of taking pictures of the police in public. But the agencies watching major corporations look the other way. SEC ignored Bernie Madoff for 12 years. MMS ignored the fact that the manual blowout preventer on the Deepwater Horizon was four years overdue for maintenance. There is yet to be a single arrest related to the 2008 mortgage-backed securities fraud.

Government is the most expensive thing you will buy on your life. Are you getting your money's worth?

Mar 31 07:21

Judge: Probation for du Pont heir in daughter rape because ‘he would not fare well’ in prison

A Superior Court judge who sentenced an heir to the du Pont fortune to probation for raping his 3-year-old daughter wrote in her order that he “will not fare well” in prison and suggested that he needed treatment instead of time behind bars, according to Delaware Online.

Webmaster's Commentary: 

The rich really do get away with everything!

Mar 31 07:15

Protesters storm Albuquerque police HQ as Anonymous targets department over killing of homeless man by 'cold blooded' officers that was caught on video

What started as a peaceful protest against the Albuquerque Police Department quickly turned violent by nightfall with officers in riot gear breaking out the tear gas.

At least 500 people gathered on the steps of the Albuquerque Police department on Sunday to condemn the recent police killing of 38-year-old James Boyd. Earlier this week hacktivist group Anonymous posted a video online calling for locals to occupy police headquarters and take a stand against Boyd's 'cold blooded' murder.

'Let them know that your city is not a place for war games against the homeless and the less fortunate,' the group said in the video.

Mar 31 07:08

High-Speed Traders Rip Investors Off, Michael Lewis Says

The U.S. stock market is rigged when high-frequency traders with advanced computers make tens of billions of dollars by jumping in front of investors, according to author Michael Lewis, who spent the past year researching the topic for his new book “Flash Boys.”

While speed traders’ strategies, developed over the past decade with help from exchanges, are legal, “it’s just nuts” that they’re allowed, Lewis said during an interview televised yesterday on CBS Corp.’s “60 Minutes.” The tactics are too complicated for individual investors to understand, he said.

Mar 31 06:59

Less Than 17% of Teenagers in Los Angeles County Have A Job

Teenage unemployment in the USA is just plain bad. There is no other way to put it. But some cities have fared even worse than others. Based on a report from the Brookings Institution which pooled data from 2010-2011, employment rates for teenagers ranged from an unexemplary high of just over 43% in Ogden, Utah to a low of 16.9% in Los Angeles, California.

Mar 30 10:12

An idea whose time has come: Boycott the USA!

Boycott the USA! You read it here first.

"Impossible!" you say. "The USA leads the "international community;" boycotting the USA is silly fantasy."

Yet such a boycott could happen as people realize that the USA is the key part of an Axis bringing unlimited evil. Indeed, USA policy is so malign with such contradiction, that the men in white coats will soon be on their way to visit American leaders.

At present the USA is leading the movement to boycott and sanction Russia.

Mar 30 10:05


A Wells Fargo spokesman says they received multiple complaints from people in other states about U.S. flags on display in their banks so they have ordered flags removed at all branches across America.

Mar 30 09:36

Office Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption

It just hasn’t been JPMorgan’s year. Or several years for that matter. The bank which has been on a steady downward slope when it comes to paying billions in quarterly “non-recurring, one-time” legal settlements and charges, and for which engaging in criminal behavior which is neither admitted nor denied, yet which has cost JPM nearly $30 billion in the past several years, has just had its latest “wristslapping” incident, one which involves none other than the recently departed CEO of JPM Asia, Fang Fang, whose office was raided on March 26 by Hong Kong’s anti-corruption agency amid a U.S. investigation into the bank’s hiring practices as reported by Bloomberg.

Mar 30 08:51

Dollar Hegemony Under Attack By Export-Superpowers Germany and China

The word dollar didn’t even come up. “The volume of transactions that can be carried out in the Chinese currency in international and German financial centers is not commensurate with China’s importance in the global economy,” the Bundesbank explained in its dry manner on Friday in Berlin, after signing a memorandum of understanding with the People’s Bank of China. President Xi Jinping and Chancellor Angela Merkel were looking on. It was serious business. Everyone knew what this was about. No one had to say it.

The agreement spelled out how the two central banks would cooperate on the clearing and settlement of payments denominated in renminbi – to get away from the dollar’s hegemony as payments currency and as reserve currency.

Webmaster's Commentary: 

Nixon's having decoupled the US dollar from the gold standard, along with quantitative easing by the dollarholics in this country, have led to the absolute demise of the dollar in world trade.

This is why we are seeing such a furious march toward a world war, as that worked twice before for the US government in terms of restoring the dollar as the hegemonic world currency.

However, that was before Russia and China had nuclear arms capability. And I would like to politely remind those in the bowels of power in DC and Tel Aviv that at this time in its history, the US military doesn't have the money, the manufacturing, or the troop strength to insure a positive outcome to a conventional war with Russia and/or China: and this is what makes the military scenario against either or both countries so scarily dangerous.

Mar 29 20:45

Future History

I'm a book-lover. Have any of you read this series by Daniel Suarez? Daemon and Freedom? I don't know the author but his depiction of our economic state seems to be spot-on.

Mar 29 10:42

The Financial New World Order

Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar’s role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF’s power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”

Webmaster's Commentary: 

This conspiracy theorist thinks it is a really bad idea for the people of planet Earth.

Mar 29 10:11

Government Eliminates Interest on Nova Scotia Student Loans

Nova Scotia graduates no longer have to pay interest on their provincial student loans, saving them money as they start their careers.

"Eliminating the interest on provincial loans was our commitment from day one, and we're keeping our promise to students," said Labour and Advanced Education Minister Kelly Regan. "We know that every dollar counts when graduates are beginning their careers, and we hope this provides some relief to young people as they build their lives in Nova Scotia."

Webmaster's Commentary: 

Ending interest on student loans would fix the student loan bubble problem here in the United States ... which is why you will never see it happen here!

Mar 29 09:37

Moody’s Puts Russia On Downgrade Review

Hot on the heels of what S&P said was not a “politically motivated” shift to rating watch, Moody’s (who did not downgrade the USA and are not currently in a lawsuit over such terrible misrepresentations) has decided now is the time to put Russia on rating downgrade watch. The decision was triggered by 3 key factors: the weakening of Russia’s economic strength, potential shifts in investor sentiment, and susceptibility to event risk.

Webmaster's Commentary: 

It should be remembered that both Moody's and S&P insisted those mortgage-backed securities were triple-A back in 2008.

Mar 29 09:15

Ex-ICAP Brokers Charged Libor Probe as Total Hits 14

Three former ICAP Plc (IAP) brokers will be charged by U.K. prosecutors for helping manipulate benchmark rates, seven months after they were charged in the U.S. for similar offenses.

The U.K. Serious Fraud Office notified Daniel Wilkinson, Colin Goodman and Darrell Read yesterday that they will be charged, the agency said in a statement. That brings the number of people accused in parallel U.S. and U.K. criminal investigations into manipulation of the London interbank offered rate, or Libor, to 14. Serra Balls, a spokeswoman for ICAP, declined to comment.

Mar 29 09:11

The Fed Has Shifted Gears… And the Markets Aren't Paying Attention

As we noted earlier this week, the Fed is growing increasingly concerned of a bubble forming in the financial markets. Previously we noted that Janet Yellen was issuing warnings regarding this.

Mar 29 09:10

Jim Rogers: "America Is Shooting Itself In The Foot" Over Russia

There is no reason for Russia to worry about the western sanctions it is facing now over the Ukrainian issue since "Moscow has too many other trade partners to work with," Jim Rogers explains in this interview, adding that "America is shooting itself in a foot getting the most of our world to pushing China and Russia closer together." Simply put, he warns, "I don’t see any sanctions strategy that they can use that will hurt Russia worse than it will hurt the people imposing those sanctions."

Mar 29 09:10

Zuckerberg Loses $3 Billion in a Week as Tech Titans Fall

Mark Zuckerberg, the 29-year-old co-founder of Facebook Inc., lost $3.1 billion this week amid a decline in bank and technology stocks.

The world’s largest social network plummeted 11 percent after the company announced it would buy virtual-reality firm Oculus VR Inc. for at least $2 billion. Zuckerberg is the 22nd richest person on Earth with a $27 billion fortune, according to the Bloomberg Billionaires Index.

Mar 29 09:09

Google Chairman’s Compensation More Than Doubles in 2013

Google Inc. (GOOG) Chairman Eric Schmidt’s pay package more than doubled to $19.3 million last year as a new compensation plan reduced the total amounts for three other top executives.

Schmidt’s pay included $11.4 million in stock to correct an administrative error in the calculation and issuance of a 2011 award, according to a filing yesterday with the U.S. Securities and Exchange Commission. Schmidt also received a $1.25 million salary and a $6 million bonus, the same as in 2012. Last month, Schmidt landed an equity award of $100 million that will vest over four years.

Mar 29 08:55

Hospitals Plot the End of Insurance Companies

The problems with the implementation of the Affordable Care Act may be masking another major change in the way health care is delivered to U.S. consumers, experts believe.

At The Atlantic's Health Care Forum in Washington on Thursday, health care and business professionals said that there’s an increasing trend in the industry toward cutting insurance companies out of the process entirely, as large, regional hospital systems move into the insurance business.

Mar 29 08:46


“To some people, the European Central Bank seems like a fire department that is letting the house burn down to teach the children not to play with matches.”

Mar 29 08:35

32 Statistics That Obama Neglected To Mention During The State Of The Union Address

#1 According to a recent NBC News/Wall Street Journal poll, only 28 percent of all Americans believe that the country is moving in the right direction.

#2 In 2008, 53 percent of all Americans considered themselves to be "middle class". In 2014, only 44 percent of all Americans consider themselves to be "middle class".

#3 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be "lower class". In 2014, an astounding 49 percent of them do.

#4 Right now there is approximately a billion square feet of vacant retail space in the United States.

Mar 29 08:34

Bank 'Russia' refuses from foreign currency

Joint-stock bank "Russia" sent a notice to a number of U.S. banks to inform them about the move to close correspondent accounts in foreign currency and decided to work only with the Russian national currency.

The bank does not need financial support, not even from the Central Bank of Russia.

Mar 28 13:38

About Eat By Date – How Long Does Food Last?

We are a group of contributors from the kitchen and classroom communities who set out to answer the question, “How long does food really last?”. From the best ingredients to the ordinary, we provide you with a diverse and informative perspective on food shelf life, food safety, expiration dates, recipes, substitutions, food storage and more. We are focused on helping you save money, eat healthy, and debunk the myth of expiration dates on food.

How to use the site: Browse the menu above, use the search function to the left or click a picture below to learn about your favorite foods and beverages!

Mar 28 12:00

Zero Covered Dentists Within 100 Miles for Mandatory Dental Plan Under Obamacare

For years we have known that the claim under Obamacare, “If you like your plan, you can keep your plan,” was false.

We have also known that the claim under Obamacare, “If you like your doctor, you can keep your doctor,” was false.

But what we didn’t know was that under Obamacare, “If you need a doctor, you may have to drive more than 100 miles to find a doctor.”

Mar 28 10:35

Million jars of peanut butter dumped in New Mexico after Costco refused to take the product or let it be donated to food banks

Nearly a million jars of peanut butter are being dumped at a New Mexico landfill to expedite the sale of a bankrupt peanut-processing plant that was at the heart of a 2012 salmonella outbreak and nationwide recall.

Bankruptcy trustee Clarke Coll said he had no other choice after Costco Wholesale refused to take shipment of the Sunland Inc. product and declined requests to let it be donated to food banks

Webmaster's Commentary: 

I cannot tell you how much this pisses me off. Fridays are when Claire and I take off after the radio show to try and obtain food for the local food distribution program we support (one of two). By going to outlet stores we can get good prices on bulk items, but we still pay for this out of our own pocket. Lately supplies are getting shorty which means the prices go up and even at the higher prices there is not enough. There have been days we emptied the rack at the local bread company outlet and still did not have enough.

So when I hear stories about perfectly good food being sent to a landfill instead of food banks I get really pissed off. If I had a COSTCO membership I would tear it up right now.

Mar 28 09:54

Durham police arrest chief financial officer in $2M fraud case

An Oshawa woman working as a chief financial officer has been arrested for allegedly bilking her Scarborough company out of almost $2 million in less than two years.

According to Durham Regional Police, she redirected company money to a supplier, with whom she had ties, between February 2012 and September 2013.

Mar 28 09:53

Walmart Just Revealed How Poor U.S. Shoppers Are

Walmart is no stranger to sensational headlines, but there’s at least one story this week that is just begging to be taken apart. Anyone who thinks “Walmart Just Revealed How Poor Its Customers Are” is an accurate reflection of the facts needs to keep reading.

Because the problem isn’t that Walmart revealed how poor its customers really are, it’s that Walmart revealed how poor U.S. shoppers really are.

Mar 28 09:51

PLUNGE: New poll shows Obamacare support at 26%

A new poll shows that just 26 percent of Americans support Obamacare, but at the same time only 13 percent think the law will be completely repealed.

The Associated Press-Gfk survey was completed before the White House announced this week that it had signed up 6 million people for private health plans through the state and federal exchanges under the Affordable Care Act.

Mar 28 09:45

Dow Jones Index Injected With EPO and Growth Hormones Again

It is becoming more and more meaningless to compare the performance of the Dow 30 from one period to another with the continuing replacement of constituent companies that have under-performing and lower priced stocks (losers out) with companies that have higher priced stocks with greater future prospects for price appreciation (winners in).

Mar 28 09:15

A brief history of Obamacare delays

The administration has bent deadlines for the employer mandate (twice), put off the launch of the Spanish-language enrollment site and even delayed the enrollment season for 2015 — pushing it off until after the November midterm elections.

Working backward, here’s a brief history of some of the most prominent Obamacare delays:

Webmaster's Commentary: 

Mar 28 09:03

Congress backs bills to aid Ukraine

In a show of solidarity with President Barack Obama, Congress spoke with one voice Thursday against Russia's annexation of Crimea, overwhelmingly backing legislation in the House and Senate to aid cash-strapped Ukraine and punish Russia.

Webmaster's Commentary: 

But Detroit can go pound rust!

Mar 28 08:36

Erdogan's facade crumbles further: 1 in 5 living in poverty in Turkey

Contrary to the rosy picture of Turkey's economic development that is put forward by Prime Minister Recep Tayyip Erdo?an, a recent analysis argues that the country is suffering from a serious problem with poverty.

Mar 28 08:27

Corporate Sovereignty Provisions Called Into Question Around The World

A couple of weeks ago, we noted that Germany just threw a big spanner in the TTIP works by calling for corporate sovereignty provisions to be excluded. Although perhaps the most dramatic repudiation of investor-state dispute settlement (ISDS), it's by no means the only one. Indeed, the tide really seems turning, as country after country calls into question the need to put corporations on the same level as entire nations.

Mar 28 08:21

Ukraine: The Corporate Annexation. “For Cargill, Chevron, Monsanto, It’s a Gold Mine of Profits”

As the US and EU apply sanctions on Russia over its annexation’ of Crimea, JP Sottile reveals the corporate annexation of Ukraine. For Cargill, Chevron, Monsanto, there’s a gold mine of profits to be made from agri-business and energy exploitation.

Mar 28 07:59

Thrup’ney bits, Tits – New Pound Coin is Elite Schoolboy Joke for Unwashed Masses

It is said that the issuing of this new coin will embrace the nostalgia of a golden era when Britain was emerging from the economic vacuum of the second world war – but I suspect that this new coin has an entirely different meaning all together – Osborne is telling us that new pound will have the equivalent value of the old 3 pence and we had all better smile and be thankful for our new, worthless, shiny currency and join the breadline and shut-up like obedient poor-folk always have.

Mar 28 07:55

IMF Exposed in Ukraine

The Ukraine debacle has exposed certain truths to the world about the way the West operates and how the power elite destabilizes countries politically in order to gain further control over them. IMF officials are doing themselves no favors by participating, but doubtless have little choice.

This IMF tranche is not a helpful gesture toward Ukraine so much as part of a calculated and continued campaign of destabilization and occupation. It is the Internet Era itself that is exposing these manipulations and making them considerably less effective in the 21st century than in the 20th.

Mar 27 09:56


Benihana restaurant founder Rocky Aoki was indicted by a federal grand jury yesterday on charges he cooked up an insider trading scheme that netted him $590,000. Aoki, 59, resigned last month as chairman and chief executive of Benihana, a 61-restaurant Japanese steakhouse chain based in Miami after being informed he was the subject of a federal securities investigation.

Webmaster's Commentary: 

Last night I finally got to see "Wolf of Wall Street" on cable. I appreciated all the naked ladies, but felt the three hour movie could have easily been trimmed to two hours and it would have been a better film, but Martin Scorsese has reached the age where he is very much in love with his own work, often to its detriment. I had the same complaint about "Hugo" and "Shutter Island. "Leonardo DeCaprio was amazing in the title role.

That being said, during one of the overly-long expositions, mention was made of how the founder of the Benihana Restaurants had been charged with major financial crimes, and I wondered how the film could have made a statement like that without Benihana suing them. So I did a web search and found a few articles verifying that yes indeed the founder of Benihana had done some very nasty things, which went mostly unreported by the corporate TV news!

Mar 27 08:32

Billionaire will meet and greet you for $1000

This is precisely what makes liberals, especially wealthy liberals, so loathsome. A billionaire does not need any more money. A billionaire can afford to offer you advice for free. What Winfrey is doing is so typical of hypocritical liberals. This is all about helping you- for a chunk of change. Where’s the “spreading it around” that liberals and her buddy Obama are always blathering about? The bottom line is always the same. It’s about spreading YOUR money around and not theirs.

If you have $1000 to squander on meeting Oprah, then you already have the life you want.

Mar 27 08:30

The Economic Scam of the Century

The leaders of the U.S. Senate Banking Committee, Sen. Tim Johnson (D., S.D.) and Sen. Mike Crapo (R., Idaho), released a draft bill on Sunday that would provide explicit government guarantees on mortgage-backed securities (MBS) generated by privately-owned banks and financial institutions. The gigantic giveaway to Wall Street would put US taxpayers on the hook for 90 percent of the losses on toxic MBS the likes of which crashed the financial system in 2008 plunging the economy into the deepest slump since the Great Depression. Proponents of the bill say that new rules by the Consumer Financial Protection Bureau (CFPB) –which set standards for a “qualified mortgage” (QM)– assure that borrowers will be able to repay their loans thus reducing the chances of a similar meltdown in the future.

Mar 27 08:28

Citigroup Fails Fed Stress Test as BofA Gets Dividend Boost

Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress tests, while Bank of America Corp. won approval for its first dividend increase since the financial crisis.

Mar 27 08:23

Home Sales Plunge Most In 3 Years, Drop 8th Months In A Row

Must be the weather... (though if you want to believe that, do not look at the regional breakdowns)... Pending home sales fell 10.2% YoY - the worst in 3 years (notably worse than the 9% drop expected by the meteorologists in the economics departments of the big banks). This is the 8th month in a row of home sales drops

Mar 27 08:23

The First Duty of American Citizens is to Protect Their Freedom From the Government

“The window for the United States to save the PETRODOLLAR (THERE IS THAT WORD I KEEP HARPING ON IN MY FINANCIAL SERIES) from the scourge of the Iranian sale of oil for gold to the BRIC nations (e.g. Russia, China, India) is rapidly closing. If the Russians are able to invade Ukraine and consolidate their holdings, an invasion of Syria as a precursor to the invasion of Iran, can be seriously challenged by the Russians operating out of Crimea.”

I absolutely CANNOT stress enough how important the financial component is to understanding domestic or global politics right now. If you think it does not concern you, you are sorely mistaken. I include the links again below.

Mar 27 07:54

Another round of food stamp cuts in states

A fresh round of food stamp cuts at the state level are underway, on top of federal food stamp reductions that hit millions of Americans twice since November. In some states, policymakers have imposed additional cuts that jeopardize benefits for hundreds of thousands.

The impact of the reductions is just beginning to take hold, or soon will.

Webmaster's Commentary: 

It has been an axiom of the GOP that if you cut food stamps, unemployment will go down, because as we all know there are just oodles of good paying jobs sitting empty because the US is "incentivizing" people to sit at home. Well, they have been cutting food stamps for months and there are more jobless now than when they started, because the problem isn't the workers, it is the absence of jobs.

Mar 27 07:16

French jobless rate surges to new record

The number of new jobseekers rose by 31,500 last month, it said, admitting there had been a "marked progression" in unemployment.

Mar 27 06:58

Russian industrial zone to be established in Egypt

A Russian industrial zone focused on producing agriculture machinery and equipment will be established in Egypt, an official statement issued by the Egyptian Ministry of Industry and Foreign Trade said Wednesday.

Russia will assist Egypt in the development and modernisation of the Egyptian Iron and Steel Helwan Factory, El Nasr Automotive Manufacturing Company and Egypt’s large aluminium production company, Egyptalum, located in Nag Hammadi. Russia will also aid in the development of the Aswan Dam’s electricity power plants.

Mar 27 06:48

Goldman Sachs' Outrageous Scheme to Profit Off Jailed Young Offenders

Mayor Michael Bloomberg announced that New York City would be the site of a new experiment very dear to his billionaire’s heart. He declared that Wall Street megabank Goldman Sachs would provide a loan of nearly $10 million to pay for a program intended to reduce the rate at which adolescent men incarcerated at Rikers Island reoffend after their release (currently almost half reoffended within a year). The city government was short of money, so Goldman Sachs would step in to do what anemic public investment could not accomplish on its own: keep young men out of jail.

Mar 27 06:47

Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

Mar 27 06:41

France Is Not Sick – Europe Is

France is the sick man of Europe according to this article, because its manufacturing and service sectors are contracting.

But in reality, France is no sicker than any other country in Europe. They all suffer from the same problems: monetary over-stimulation, over-regulation, over-taxation and a cradle-to-grave socialist mentality.

Webmaster's Commentary: 

It is amazing to see how hard financial writers will work to NOT look at the root cause of the economic problems afflicting the west, which is that when you allow a privately-owned central bank to issue all of the nation's currency as a loan at interest, by design this system creates more debt than money with which to pay that debt. Once this pyramid scheme is started, the total debt owed to that central bank will grow faster than the available money supply until the system approaches collapse, at which point the people are enslaved to "austerity", meaning they must work harder and live with less so the bankers can have more, or in the worst case, government's are forced to resort to wars of conquest to try to balance the books.

Until that root cause is recognized and corrected, there is nothing the people or governments can do that will improve the economy, once it is in the control of those private central banks.

The United States fought a revolution to break free of this very system of private central banking, only to be sold back into that form of slavery 100 years ago by a corrupt Congress and a corrupt President.

Mar 26 12:04

Russia to create national payment system to rival Visa, Mastercard

Russia is considering launching its own payment system in response Visa and Mastercard's recent blocking of the bank card operations of several US-sanctioned Russian banks. Russian officials are debating whether to base it on Sberbank’s PRO100 or to cooperate with the Chinese UniPAY.

Mar 26 12:02

Software problems will set back F-35 joint strike fighter another year – report

Delivery of the F-35 Joint Strike Fighter will be more than a year behind schedule due to ongoing software problems, according to a US government report. The delay marks the latest snag in the ongoing saga of the world’s most expensive aircraft.

According to a new Government Accountability Office report, the F-35’s mission management system software needs a vast debugging effort to meet the plane’s various requirements.

“Challenges in development and testing of mission systems software continued through 2013, due largely to delays in software delivery, limited capability in the software when delivered, and the need to fix problems and retest multiple software versions,” the GAO auditors wrote.

Mar 26 12:01

Doin the Math…

According to General Motors, the Volt battery holds 16 kwh of electricity. It takes a full 10 hours to charge a drained battery. The cost for the electricity to charge the Volt is never mentioned so I looked up what I pay for electricity. I pay approximately (it varies with amount used and the seasons) $1.16 per kwh.

16 kwh x $1.16 per kwh = $18.56 to charge the battery. $18.56 per charge divided by 25 miles = $0.74 per mile to operate the Volt using the battery. Compare this to a similar size car with a gasoline engine that gets only 32 mpg. $3.19 per gallon divided by 32 mpg = $0.10 per mile. The gasoline powered car costs about $15,000 while the Volt costs $46,000.

So the Government wants us to pay 3 times as much, for a car that costs more than 7 times as much to run, and takes 3 times longer to drive across the country…..

Mar 26 12:00

Sinkhole growing near Mexican Village restaurant in Detroit

A sinkhole appeared three weeks ago along Bagley in the alley next to the popular Mexican Village restaurant, and it's doing nothing but getting bigger.

The hole is more than a foot wide and about 15 feet deep and so far, nothing has been done to repair it.

Severo Gonzalez, who owns the Mexican Village restaurant, has been getting nothing but the run-around from various city departments.

Mar 26 11:54

'Just the cost of doing business': Banks suffer growing backlash in the US as legal fines for misconduct rocket to $100bn

The big US banks and their foreign rivals on Wall Street are suffering a growing backlash, with legal settlements paid to US regulators for misconduct rocketing in recent years.

New figures show the total paid out in legal costs by the US banking sector since the onset of the financial crisis now amounts $100billion (£60.5billion) - and more than half of those financial penalties were levied in the past year.

The patterns suggests the banking industry is prepared to buy its way out of the sort of conduct that was supposed to have been set aside since the collapse of Lehman Brothers in 2008.

Mar 26 11:17

Monks recant: Bundesbank opens the door to QE blitz

The last bastion is tumbling. Even the venerable Bundesbank is edging crablike towards quantitative easing.

Mar 26 11:16

Malaysia Airlines may need government rescue

Even before Flight 370 disappeared, Malaysia Airlines was neck-deep in financial trouble.

But the loss of the flight and subsequent focus on the company's management has further damaged the troubled carrier.

Mar 26 10:53

Billionaire’s son avoids punishment for cocaine found in his Mercedes when he was stopped by police for jumping traffic lights

A banker's son who was found to have cocaine in his car when he was stopped for jumping traffic lights was let off by magistrates without penalty for the drugs.

Webmaster's Commentary: 

So, what else is new?

Mar 26 09:59

Lithuania pleads for US gas exports to counter Russia

Lithuania's energy minister has called on the US Senate to speed up the export of natural gas to Europe.

Mar 26 09:58

Bank of England agrees Chinese London currency clearing hub

The Bank of England has agreed a deal with the People's Bank of China to make London a hub for Chinese currency dealing.

The memorandum of understanding, to be signed on Monday, sets out settlement and clearing arrangements for the renminbi, or yuan, in London.

The signing is expected to be followed by the appointment of a London clearing bank for yuan.

Webmaster's Commentary: 

"You can't DO that!!!" -- Official White Horse Souse

Mar 26 09:57

Fed Gov sells GM stock at 10.8 billion loss just before the recalls

The fed Gov sold the last of its holdings in GM in Dec 2013 and the recalls any lawsuits started in Feb 2014...insider trading at its best ..yes I hate GM and their defective cars and their "we dont give a shit" attitude

Mar 26 09:38

Obama says Russia's energy sector could be target of new sanctions

President Obama threatened a new round of sanctions against Russia on Wednesday, this time aimed at the country’s energy sector.

Obama, speaking at a news conference at the Council of the European Union, said the crisis in Ukraine underscored Europe’s need to become less dependent on Russia’s rich energy sources.

Webmaster's Commentary: 

"Really; you should buy all of your oil and gas from the United States! and, and, and, pay for it ONLY in US dollars! That is the way it is supposed to be!" -- Official White Horse Souse

Mar 26 09:15

White House offers extension on completing Obamacare enrollment

The Obama administration plans to allow consumers to complete enrollment for health insurance under Obamacare after next week's deadline as long as they declare that they started the process before the end of the month.

Webmaster's Commentary: 
Mar 26 08:47

Judging Obamacare state by state

Earlier this month the Department of Health and Human Services announced that more than five million people had selected plans on the public insurance exchanges, a sign that the pace of enrollments is quickening as the March 31 deadline for choosing a plan approaches. But a look at the exchanges during the last month of the sign-up period shows that the enrollment picture isn’t equal across the map. “A handful of states have done great,” says Katherine Hempstead, the senior program officer for the coverage team at the Robert Wood Johnson Foundation, a philanthropy dedicated to health care. “But there are some states that are really not getting much traction at all.”

Mar 26 08:46

Remember the missing Obamacare "back-end?" Yeah, HHS still hasn't built that

The website works. Sometimes. And the deadline for signing up is rapidly approaching. Again. But there's one big piece of Obamacare that's still missing.

Webmaster's Commentary: 

Mar 26 08:33

Dolan Co. Files Bankruptcy to Cut Foreclosure Unit Debt

Dolan Co. (DOLN), a provider of legal-support services and publishing, filed for bankruptcy after agreeing to be taken over by lenders to cut debt linked to its former mortgage foreclosure-processing business.

The Minneapolis-based company listed debt of $185.9 million and assets of $236.2 million as of Sept. 30 in a Chapter 11 petition filed today in Wilmington, Delaware.

“This reorganization step is necessary to unlock these current businesses from the weight of debt principally associated with its previous mortgage foreclosure processing businesses,” Kevin Nystrom, Dolan’s chief restructuring officer, said in a March 20 statement.

Mar 26 07:00

Warnings from Former Presidents About Who Really Runs the Show

Verified Warnings From Former U.S. Presidents About the “Invisible Government” Running the U.S. With “No Allegiance To the People”

Mar 26 06:26

Born into slavery

The banks have been the modern slave owners and as the saying goes, “He who owns the debt owns the people.” The way the Slavery System was imposed on us meant that even if we did end up paying off our house or our car, we never actually owned it, because our right to any Real Property ownership was given away at the registration of our birth.

Mar 26 06:15

Fastrack LNG Deliveries to Europe Unlikely

Expedited regulatory approval of proposed US liquefied natural gas export terminals would not lead to their immediate construction nor to near-term deliveries of US gas into Europe, panelists at a Senate hearing have said, reports Platts.?

Mar 25 11:02

Either U.S. Economy Collapses or WWIII | Mike Rivero

Mar 25 10:02

No Law Requires You to Pay Income Tax, Period.

Mar 25 09:01

JPMorgan Loses Potential Successor to Dimon as Cavanagh Quits

JPMorgan Chase & Co.’s Mike Cavanagh, who has served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.

Mar 25 08:28

A Chinese Shadow Bank Bailout May Mean A Crash In U.S. Treasury Bonds

China’s economy in 2014 is remarkably similar to America’s in 2008: Both were fueled by real estate speculation, both speculative bubbles a product of cheap-and-cheerful shadow-bank financing.

And just like the U.S. in 2008, China in 2014 is looking down the barrel of a Minsky Moment: The point at which servicing debt levels becomes unsustainable, and there are no reserve cushions large enough to absorb the losses.

Mar 25 08:27

EU Completes "Single Resolution Mechanism" for Suicidal Bail-out and Bail-in of Bankrupt Banking System

The SRM will have a Euro 55 billion bail-out fund, supposedly to be contributed by the banks over 8 years, but backed by governments in the meantime, to be used together with bail-in to carry out the EU's intention of shutting down a significant number of the 120 largest banks, bail out and/or bail-in the bad debt, and absorb these failed banks into the Too Big To Fail banks. This assumes that the coming bank crisis will be relatively small and one-by-one, rather than the reality of the pending systemic collapse.

Webmaster's Commentary: 

It does not matter how obfuscated they make it; it still comes down to looting the people to prop up that Ponzi scheme private central bank.

Mar 25 08:21

US Prepares To Provide A Billion To Ukraine As Detroit Plans Mass Water Shutoffs Over $260 Million

Either way, one thing is certain: in order to enforce the fading Pax Americana in the Ukraine, and to keep the funding to the otherwise insolvent Ukraine flowing, which as everyone knows will be first and foremost used to pay Russia's Gazprom, the US is about to send lots of money abroad. As in, not in the US.

So when it comes to priorities, whom does Putin have to thank for the billions in Western funds he is about to receive? Maybe he can start in Detroit, where the local utility is planning mass water shutoffs over $260M in delinquent bills.

Mar 25 08:15

Spanish 'Anti-Austerity' Protesters "Sick Of This System They Call Democracy"

"I'm here to fight for my children's future," exclaims one father as Spaniards rallied in Madrid against poverty and EU-imposed austerity. As Reuters reports, the largely peaceful protest later marred by violent clashes in which police fired rubber bullets. The so-called "Dignity Marches" brought hundreds of thousands to the capital with banners making it clear what their feelings about record 26% unemployment were - "Bread, jobs and housing for everyone" and "Corruption and robbery, Spain's trademark." One protester summed up the people's views of the government, "I'm sick of this system they call democracy... I want things to change."

Mar 25 08:08

New Home Sales Drop To Lowest Since October, Median Home Price Below Year Ago Levels

It was only a matter of time before, as we said last month, January's reported surge in New Home Sales soared by 10% to 468K (well above the 400K then expected) would be revised lower. This just happened, when moments ago the Census Bureau lowered the January number from 468K to 455K. But what's worse is that last month's seasonally abnormal print was obviously an aberration due to the law of small numbers (explained here in detail), February's print was even worse, printing at 440K, below the 445K expected, and the lowest monthly print since September. Then again looking at the chart below shows why 20K houses up or down is absolutely meaningless in the grand scheme of things, as New Home Sales is the one category that resolutely refuses to bounce from the Depression lows.

Webmaster's Commentary: 

The alleged "recovery" we are supposed to be having in this country is just smoke and mirrors, for most working Americans; nothing more.