ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 15 10:14

A US Newspaper Says That Afghanistan Gave CIA Funds To Al Qaeda

Funds sent by the Central Intelligence Agency (CIA) US ally Afghan government were used by Kabul to pay a ransom to Al Qaeda, today unveiled the American newspaper The New York Times.
Funds sent by the Central Intelligence Agency (CIA) US ally Afghan government were used by Kabul to pay a ransom to Al Qaeda, today unveiled the American newspaper The New York Times.

http://whatisusa.info/a-us-newspaper-says-that-afghanistan-gave-cia-fu...

Mar 15 09:39

Iran seals memorandum of understanding in banking sector with Russia — Fars

Iran has sealed a memorandum of understanding in the banking sector with Russia, the Fars news agency said on Saturday.

"The memorandum of understanding was signed by the deputy governors of the Iranian and Russian central banks during a visit to Moscow by a high-ranking Iranian banking and financial delegation from March 10 to 12," the agency quotes Iranian Ambassador to Moscow Mehdi Sanayee as saying.

The document envisages the supervision of the central banks of Russia and Iran over financial operations of the two countries’ other banks.

Mar 15 08:12

In its Desperation, Scandal-Riddled Spanish Government Criminalizes Solidarity Among Citizens

On Tuesday, March 10, 19 Spanish citizens were rounded up in dawn raids by the Madrid police. They are accused of committing a crime against the Spanish state. That crime? Trying to prevent, through passive, non-violent resistance, the forced eviction of a local resident. If found guilty, the suspects could face crippling fines.

Welcome to Rajoy’s Spain, where helping out your neighbor in his or her hour of need is now an administrative crime.

A Not-So-Silent Tragedy

In most countries that have experienced foreclosure epidemics, the eviction of neighbors and local residents is usually a quiet, if not silent, tragedy. Often people don’t realize that their neighbors have gone until hours, days or even weeks have passed. Some may never even notice.

Mar 15 07:55

Money as Debt 2: Promises Unleashed

Bailouts, stimulus packages, debt piled upon debt…Where will it all end?

How did we get into a situation where there has never been more material wealth & productivity and yet everyone is in debt to bankers?

Mar 15 06:52

Egypt unveils plans to build new capital east of Cairo

The Egyptian government has announced plans to build a new capital to the east of the present one, Cairo. Housing Minister Mostafa Madbouly said the project would cost $45bn (£30bn) and take five to seven years to complete.

Mar 14 20:08

Barack and Michelle Obama spent more than $1million of taxpayer's money on separate flights to LA - despite filming TV appearances on the SAME DAY just miles apart

The President and First Lady both filmed TV appearances in Burbank, California on Thursday - but billed taxpayers for two separate private flights to get there.

Barack Obama took Air Force One to LAX, at a cost of more than $1million, so he could be on Jimmy Kimmel Live.

But, rather than ride with him, Michelle Obama chartered a different, earlier plane for a slot on The Ellen DeGeneres Show, filmed in the same LA suburb as Kimmel's program.

Mar 14 14:49

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (2 of 7)

*hyperlinks live at source*
The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections:

Instructions (1 of 7)
Contextual orientation: seeing the past as clearly as possible (2 of 7)
Money and bank credit (3 of 7)
Fractional reserve banking (4 of 7)
Debt (public, private) and money supply (5 of 7)
Historical struggle between government-issued money and private bank-issued credit (6 of 7)
Cost-benefit analysis for monetary reform in your world of the present (7 of 7)
**

1. Contextual orientation: seeing the past as clearly as possible

Mar 14 14:04

5 Things To Ponder: Return To Reality

Mar 14 13:53

Beware of accepting Western Union money orders!

Not one easily frustrated and seldom angry, I just had a bad experience that could happen to anyone selling (or in my case, giving away) items on QRZ.com. Beware of accepting Western Union money orders!

I recently offered on QRZ.com to give away a G5RV antenna, that I no longer used, to a ham with limited space—“free, merely pay for the medium-box flat-rate shipping of $10.70.” (The fact that the item was being given away is irrelevant—it could have been a for-sale item, instead.) Several hams responded to my ad and I had to choose only one. But, I also remembered that I had a used Slinky antenna and I offered the same deal to one of the non-selected responders.

Webmaster's Commentary: 

This just now happened to me, with a donation from a supporter in Madison, Wisconsin. Bank returned it with "Refer to maker." No other explanation. I thought the whole point of a money order was that the funds were guaranteed to be there!

Is Western Union starting to cheat its customers to stay in business?

Mar 14 13:32

The Omega Man Wealth Syndrome by NORMAN BALL

snip: The binary construct of monocracy (the Omega Man – everything, we – nothing) will collapse the Great Usury Pyramid (GUP) to a pile of earthen dust. (The other alternative is that the Last Man Owning will be so consummately antithetical to Christian principles that, by definition, he will be the Antichrist. In that case, prepare for big fireworks.) Strivers will suffer identity crises as absolute wealth extinguishes the very benchmarks that once made wealth meaningful. Like a tail-eating serpent, the law of large numbers will devour the efficacy of numbers and net worths.

Mar 14 10:53

What could possibly go wrong

Mar 14 10:44

Natural gas: The fracking fallacy - The US is banking on decades of abundant natural gas to power its economic resurgence. That may be wishful thinking.

All of those investments are based on the expectation that US gas production will climb for decades, in line with the official forecasts by the US Energy Information Administration (EIA). As agency director Adam Sieminski put it last year: “For natural gas, the EIA has no doubt at all that production can continue to grow all the way out to 2040.”

But a careful examination of the assumptions behind such bullish forecasts suggests that they may be overly optimistic, in part because the government's predictions rely on coarse-grained studies of major shale formations, or plays. Now, researchers are analysing those formations in much greater detail and are issuing more-conservative forecasts. They calculate that such formations have relatively small 'sweet spots' where it will be profitable to extract gas.

The results are “bad news”, says Tad Patzek, head of the University of Texas at Austin's department of petroleum and geosystems engineering, and a member of the team that is conducting the in-depth analyses. With companies trying to extract shale gas as fast as possible and export significant quantities, he argues, “we're setting ourselves up for a major fiasco”.

Mar 14 10:32

Investors in ‘patient panic’ over Fed language

U.S. stock markets are in the midst of a “‘patient’ panic” ahead of Wednesday’s Federal Reserve statement, when many investors expect a change in the Fed’s language that would send the clearest signal yet that a rate hike is coming soon.

Mar 14 10:27

The American Story Is A Mystery Only to Economists

Here’s what Bloomberg’s Craig Torres and Michelle Jamrisko write: “American Mystery Story: Consumers Aren’t Spending Even In a Booming Job Market”. Yes, it is a great mystery to 95% of journalists and economists. Because they have never learned to even contemplate that perhaps people can be so deep in debt that they have nothing left to spend. Instead, their knowledge base states that if people don’t spend, they must be saving. Those are the sole two options. And so if the US government reports that 863,000 underpaid new waiters have been hired, these waiters have to go out and spend all that underpayment, they must consume. And if they don’t, that becomes The American Mystery Story.

For me, the mystery lies elsewhere. I’m wondering how it ever got to this. How did the capacity for critical thinking disappear from the field of economics? And from journalism?

Mar 14 10:19

The oil glut and low prices reflect an affordability problem

For a long time, there has been a belief that the decline in oil supply will come by way of high oil prices. Demand will exceed supply. It seems to me that this view is backward–the decline in supply will come through low oil prices.

The oil glut we are experiencing now reflects a worldwide affordability crisis. Because of a lack of affordability, demand is depressed. This lack of demand keeps prices low–below the cost of production for many producers. If the affordability issue cannot be fixed, it threatens to bring down the system by discouraging investment in oil production.

Mar 14 10:10

CURRENCY WARS: IN DESPERATE MOVE, SWIFT ADDS RUSSIA TO ITS BOARD AS A VOTING MEMBER

Two days after China announced they were within months of implementing their own version of SWIFT to compete and perhaps overtake the U.S. dollar as the globally recognized reserve currency, the West does a U-Turn and has accepted Russia as a voting member of their financial messaging and interchange system. This move on March 11 comes just months after the U.S. threatened the Eurasian oil giant with being locked out of SWIFT over the Ukraine conflict, and appears now to be an act of desperation as the dollar becomes less and less of a factor in global trade.

Webmaster's Commentary: 

Absolutely, completely hysterical!!

But it is not going to stop China from creating their own version of SWIFT; and when that happens, I would not bet against the Yuan becoming the premier world currency.

Mar 14 09:37

Commerzbank fined $1.5bn for doing business with sanctioned Iran and Sudan

Germany’s second biggest bank, Commerzbank, is to pay $1.45 billion (€1.36 billion) in fines to settle US Justice Department charges over transactions with sanctioned companies in Iran and Sudan.

From 2002-2008, the German bank cleared transactions worth $253 billion for Iranian and Sudanese companies that were sanctioned by the US. It used a method called ‘wire-stripping’ so as not to leave an identity on the transaction.

Mar 14 09:37

Britain’s membership in China-led World Bank rival of ‘UK national interest’ - spokesman

The UK government considers membership of the China-led Asian Infrastructural Investment Bank (AIIB) of British national interest. However, the decision was given the cold shoulder by the US which sees the AIIB as rival to the Western financial system.

Mar 14 09:24

US trust in govt, media at record low - poll

Americans are less confident in the government than ever before and consider it a bigger problem than the economy and unemployment, according to a comprehensive social survey for 2014 and a just-released Gallup poll.

Only 10 percent of Americans consider the nation's job situation to be the top problem. Eleven percent are most worried about the economy, according to a Gallup poll published Thursday. Meanwhile, 18 percent say the government is the biggest problem the country is facing.

Webmaster's Commentary: 





Mar 14 09:04

Greece: what now?

The arrogant outcry of many anti-euro people about a “great betrayal” concerning to the agreement signed by Tsipras government is irritating and risible.

They just take as valid the narration of pro-euro mass media which in their turn repeat and amplify the German version, that is intended to prove that the Greek government signed the terms of unilateral surrender. But it is not just that! It’s evident that they are so much blind with their conceit to point the finger at the victims and not at the torturers. The moral of the story is that, in their opinion, Euro-Germany scored a massive victory and, furthermore, the Greek matter would be closed, deleted.

Probably things are not like that.

Mar 14 08:28

One American's Rage Spills Over: Shut Your Mouth & Start Fighting These Political Parasites

I was shocked today by the absolute gaul of the Fed releasing a statement about Net Worth in America reaching record levels. Now I get that they are under extreme pressure to sell the story that everything is rainbows and butterflies. But surely they understand that working class Americans are going along with the story because they really don’t have any say in our nation’s policies anymore. That doesn’t mean they want it thrown in their faces that the Fed has spent 6 years now inflating the wealth of the top 10% so much that it actually lifts the total wealth of the nation’s citizens to record highs.

Mar 14 08:26

Italy, Spain to follow if Greece exits eurozone, says Greek Defense Minister

Greece's Defence Minister Panos Kammenos has said his country's exit from the eurozone could be followed by Italy, Spain and even Germany. Kammenos' interview comes amid lack of progress in Greece's bailout plan.

Mar 14 08:19

US, UK, and China battle over which bank gets to exploit Third World

US officials are currently in an uproar over the United Kingdom’s decision to become a founding member of the new Asian Infrastructure Investment Bank. This is a decision that forecasts a massive change in the world economy. The Asian Infrastructure Investment Bank is setting itself up to be direct competition to the World Bank and IMF. These two little known institutions truly cement the West as the dominant powers in the world. The policies of the new bank will be in direct opposition to those of the World Bank.

Mar 14 07:31

Obama Bails Out Oil Industry at the Expense of Consumers

Oil industry lobbyists must have been working the government over for months. The price of oil has plunged nearly 60% since June. Smaller oil companies are going bankrupt. Larger ones are bleeding. Energy junk-bondholders are getting massacred. Wall Street is fretting about losing the fees. Banks are worried about their energy loans. Venezuela is falling apart and is going to default. Russia is careening in the wrong direction. Kern County, the oil capital of California, declared a “fiscal emergency.”

Mar 14 06:58

Currency Wars: UK support for China-backed Asia bank prompts US concern

The US has expressed concern over the UK's bid to become a founding member of a Chinese-backed development bank. The UK is the first big Western economy to apply for membership of the Asian Infrastructure Investment Bank (AIIB).

Mar 14 06:30

Enjoy the Decline and Fall of American Statism! By Karen Kwiatkowski

snip: The poll designers were either extremely naive or extremely perspicacious. They have cogently asked how we like our fascism, sunny side up or easy over? Not surprising, the people indicated they’d prefer to skip breakfast, due to a growing queasiness in the pit of their stomachs, and a sense that something is going to fall on our heads.

Mar 14 06:24

China's economy: It's worse than you think

Mar 14 06:23

redacted tonight - homeless bill of rights

why racoons have more rights than homeless people
why it is illegal to ask for a handout while the government showers tax money on corporations and the military-industrial-espionage-prison state

Mar 14 04:54

How far below zero can interest rates go?

Mar 14 03:48

The Raiding of Ukraine’s Gold

At present, Ukraine is teetering on the brink of a default. Its rapidly dwindling gold and foreign exchange reserves are an indication of the country’s catastrophic financial situation. According to official data, on 1 February 2015 Ukraine’s international reserves amounted to $6,419.7 million. This is a triflingly small amount for a country like Ukraine. Given that the country’s average monthly imports last year were at the $5 billion level, Ukraine only has enough gold and foreign exchange reserves to cover imports for a little more than a month (in line with IMF recommendations, a country should have a minimum reserve equivalent to three months of imports).

Mar 13 20:35

Debt-damned economics: either learn monetary reform, or kiss your assets goodbye (1 of 7)

*hyperlinks live at source*
The following is my high school teaching assignment for Advanced Placement Macroeconomics students (available as extra credit for other classes) on how money is created. I offer this for non-profit use; divided into seven sections:

Instructions (1 of 7)
Contextual orientation: seeing the past as clearly as possible (2 of 7)
Money and bank credit (3 of 7)
Fractional reserve banking (4 of 7)
Debt (public, private) and money supply (5 of 7)
Historical struggle between government-issued money and private bank-issued credit (6 of 7)
Cost-benefit analysis for monetary reform in your world of the present (7 of 7)
Instructions: Economics studies the creation and management of money, goods, and services. In order to understand the multi-trillions-value topic of how money is created, this assignment has you:

Read conservatively non-controversial text to understand the mechanics of how what we use for money is created.

Mar 13 15:29

UK Defense ‘Sales Rep’ Philip Hammond Talks-up a War with Russia

NATO’S INSIDE MAN: Hammond has always been very enthusiastic about increasing tension with Russia, which means more arms sales.

““We are now faced with a Russian leader bent not on joining the international rules-based system which keeps the peace between nations, but on subverting it,” Hammond loudly proclaimed during a speech in London (he could easily been talking about Tony Blair there).

In actuality, the opposite is true. What has Russia done to Britain? Nothing.

Conversely, the facts show that Britain has done more to undermine Russian security and destablize the Ukraine than any other nation outside of the US.

Mar 13 15:24

US retail sales vs cons confidence

Mar 13 14:45

U.S. Is Seeking Billions From Global Banks in Currency Manipulation Settlement

The U.S. Justice Department is seeking about $1 billion each from global banks being investigated for manipulation of currency markets, according to two people familiar with the talks.

The figure is a starting point in settlement discussions, with some banks being asked for more and some less than $1 billion. One bank that has cooperated from the beginning is expected to pay far less, one of the people said. Penalties of about $4 billion are on the table, according to one of the people, though the number could change markedly.

Mar 13 14:12

Global Central Bank Update:

Mar 13 13:58

Majority of Germans in favour of 'Grexit'

In a survey conducted by the Politbarometer of the Mannheim Research Group, 52% of respondents said that Greece shouldn’t stay in the eurozone, 40% said Greece should, and 8% weren’t sure.

Mar 13 13:16

Entire board of Spanish bank resigns amid money laundering probe

The entire board of Spain’s Banco de Madrid has resigned after its Andorran owner was accused by the US of money laundering for clients from China, Russia and Venezuela.

Mar 13 12:19

Global Currency Soon? China “Actively Communicating with IMF to Include Yuan in SDR Basket Currency”

Mac Slavo
SHTFplan.com

It looks like things are moving a lot faster than anyone could have imagined.

Last week, reports circulated that China was positioning itself to become the world’s next reserve currency, and even putting up billboards advertising the global importance of the renminbi to travelers in the Asian world.

Now, China is making public moves to make that a formal reality – a process that has been going on behind the scenes at least since the 2008 financial crisis. China’s leaders are reportedly in talks with the IMF about the process of drafting the renminbi into the Special Drawing Rights (SDR) basket of currencies, which include the U.S. dollar, the British pound, the Euro and the Japanese yen.

According to the BRICS post:

Mar 13 12:07

Government Admits It Can't Fully Guarantee 51% Of Insolvent Pension Plans

Earlier this month we outlined why it is a bad time to be a pensioner. Among the issues we identified were the 18% increase in EU corporate pension deficits occasioned by the use of a lower discount rate in the calculation of the present value of liabilities (thank you Mario Draghi), US public sector pension plans’ shift away from fixed income and towards more risky investments due to an express unwillingness to adopt more realistic investment rate assumptions (because that would mean lowering the liability discount rate), and a rumor (which just today was confirmed as fact) that Greece will indeed look to their plunder pensions in order to stay afloat.

Webmaster's Commentary: 

Those pensions were defunded in the 2008 collapse of the mortgage-backed securities fraud. But politicians seeking Wall Street support for 2016 think screwing the old people is preferable to putting the blame where it belongs!

Mar 13 11:02

Frank Curzio: No Technology Bubble...Yet

Mar 13 10:23

Rickards: FED Has Major Conundrum

Mar 13 09:22

We Are Headed for War Because There Is No Truth

-Warren Pollock
Greg Hunter

Mar 13 09:03

Alan Greenspan: Oil Hasn't Hit Bottom Yet

Mar 13 08:45

These big U.S. companies could be stung by the rising dollar

The U.S. sets many trends. One is central-bank quantitative easing, which along with historically low interest rates, has helped the American economy rebound and supported stock prices.

But with the U.S. moving beyond the money-printing stage of its recovery, and the European Central Bank and Bank of Japan buying bonds hand over fist, the rising dollar poses a threat to sales and earnings for scores of major American companies.

The dollar has risen 14.7% against the euro USDEUR, +1.29% and 1.4% against the yen USDJPY, -0.02% this year through Wednesday.

Mar 13 07:40

Europe Has A Modest Proposal For Greece; "Don't Pay Wages For One Or Two Months"

The Greek media is ablaze with just what Europe's proposed solution to this issue may be. As Protothema and Capital report, the Troika proposed that Athens halt the payment of salaries and pensions for one to two months. This, according to Europe, would promptly tackle the problem of liquidity and find a solution to Greek problem of how to pay back bailout loan tranches to creditors when suffering from liquidity problems.

Mar 13 07:38

Germany says Greece may face exit from eurozone

Germany’s finance minister says Greece may leave the 19-member eurozone if the administration in Athens fails to clinch a final agreement with its international creditors.

Speaking in an exclusive interview with German-language Austrian public broadcaster, ORF, on Friday, Wolfgang Schaeuble said the possibility of Greece’s departure from the European Union’s monetary bloc cannot be excluded.

“To the extent that Greece is solely responsible and decides what is to happen, and we don’t know exactly what Greek leaders are doing, we can’t exclude it,” he said in reference to an exit from the eurozone by the Greek government.

“Europe is ready to help Greece, but Greece must let itself be helped,” Schaeuble stated.

Mar 13 07:05

Et tu, Britain? United Kingdom to join China in the anti-dollar alliance

Late yesterday, the government of the United Kingdom announced that they would be applying to join the Chinese-led Asian Infrastructure Investment Bank… as a founding member.

This is huge.

Right now, the United States dominates the global financial system.

But after years of endless wars, spying, debt, money printing, bailouts, and insane regulations, the rest of the world has had enough. And they’re looking for an alternative.

China is coming up with an answer.

Mar 13 07:02

Teamsters hit FMCSA with lawsuit over move to open border for Mexican carriers

The Teamsters Union announced this week it has filed a lawsuit against the Federal Motor Carrier Safety Administration’s recent move to expand its cross-border trucking program with Mexico.

Mar 13 07:01

Here’s Everything That’s Wrong With Cable and Satellite TV Bills

This week, the Federal Trade Commission filed a complaint against the satellite pay TV provider DirecTV, alleging deceptive advertising. The FTC charges that DirecTV violated the FTC Act in many instances by failing to clearly and prominently disclose various “gotchas” in subscriber contracts, including that customers are locked into services for two years, and that an extra fee for premium channels kicks in automatically unless subscribers proactively cancel the option.

Mar 13 06:57

US riled as Britain seeks to join China-backed Asian bank

Unfazed by US protest, Britain has decided to join the proposed China-backed Asian Infrastructure Investment Bank (AIIB), becoming the first Western country to seek membership of the bank in which India and 26 other nations are founding members.

Mar 13 06:51

VENEZUELA LIQUIDATING GOLD TO COUNTER U.S. SANCTIONS

It was only a matter of time before Venezuelan President Nicolas Maduro took steps to offset the decision that the U.S. government made against his country. On March 9th, President Obama issued an executive order declaring Venezuela a national threat after seven of the country’s officials were involved in a diplomatic dispute with the U.S.

Mar 13 06:48

Massive Explosion & Fire After Yet Another Crude Tanker Crashes In Detroit - Live Feed

It is becoming just a little too much of a daily occurrence but instead of a rail freight car crashing, today we see a massive explosion and fire erupt from an oil tanker crash in Detroit... As gas prices remain low, the shift from rail to road will likely increase the frequency of these scenes....

Mar 13 06:40

China-IMF talks underway to endorse yuan as global reserve currency

A senior Chinese central bank official said Thursday that the country is “actively communicating” with the IMF on the possibility of including the yuan, or RMB, in the basket of the Special Drawing Rights (SDRs).

Including the yuan in the SDR system would allow the IMF to recognize the ascent of the world’s second-biggest economy while aiding China’s attempts to diminish the dollar’s dominance in global trade and finance.

Webmaster's Commentary: 

"Nuke em! Nuke em! Nuke em! Nuke em! Nuke em!" -- Official White Horse Souse

Mar 13 06:02

European Central Bank ‘asphyxiating’ Greece - Varoufakis

Greek Finance Minister Yanis Varoufakis said the European Central Bank is holding cash-strapped Athens in a choke-hold in order to push through negotiations on the country’s bailout program.

The European Central Bank has essentially cut Greece off from short-term lending, which makes borrowing more expensive for the already heavily-indebted nation. If Athens doesn’t strike a deal with Brussels, they will lose emergency assistance funding from the ECB.

Mar 13 06:00

Latest Mystery: Why Consumers Aren't Spending

American Mystery Story: Consumers Aren't Spending Even In a Booming Job Market ... It's an American mystery story: More people have jobs and extra pocket money from lower gas prices, but they aren't buying as much as economists expected. – Bloomberg

Dominant Social Theme: Happy days are here again. People don't understand it yet.

Free-Market Analysis: Is it really a mystery why people aren't spending? The numbers that the mainstream media uses are "cooked" and thus the conclusions that can be drawn from those numbers are faulty as well.

For Bloomberg editorialists the idea that their data is faulty never seems to occur. On the other hand, the head of Gallup recently stated that the employment numbers in the US were far worse than what the government was stating. Perhaps that article didn't get passed around at Bloomberg's editorial desk.

Mar 12 22:52

US budget deficit equal to $192.3b in February

Mar 12 20:54

Parasite Turns On Parasite: HFT Sues Other HFTs For "Egregious Manipulation" Of Treasury Securities

The beginning of the end of high frequency trading has arrived, and it has done so in a most unexpected fashion: with an HFT turning on other HFTs and revealing on the record, for the entire world to see, just how truly parasitic, manipulative and "market-rigging" the algorithms truly are.

Mar 12 17:08

Keiser Report: DESTROYING THE MIDDLE CLASS

Mar 12 17:03

Germans Furious After Varoufakis/Tsipras Admit "Greece Will Never Repay Its Debts"

The Greco-Germanic war of words continues... Having pissed off The Greeks with his "Troika" remarks, Germany's Schaeuble went on today to more ad hominum attacks by reportedly calling the Greek FinMin "foolishly naive." The Greek ambassador has 'officially' complained to "friend and ally" Germany about the personal insult. But The Greeks had the last laugh, as first Varoufakis and then Tsipras explained respectively that "Greece would never pay back its debts," and "Greece cannot pretend its debt burden is sustainable." The German response, via tabloid Bild, "there must be an end to this madness. Europe must not be made to look stupid."

Mar 12 17:01

The Last Time Gas Prices Rose This Fast, The US Entered Recession

From February through May, gas prices have historically tended to rise. However, between refinery strikes and shutdowns (and blend transitions), 2015 has seen gas prices rise from the start of February at the fastest pace on record. Despite the total lack of 'surge in consumer spending' from the low gas prices that we were promised, the velocity of this price rise is eerily reminiscent of the 2007 surge that, within months, saw the US in recession...

Mar 12 17:00

The West's Plan To Drop Russia From SWIFT Hilariously Backfires

For the last several months, despite numerous warnings of the consequences, the US and UK governments have been pushing to block Russia from the SWIFT payments system. And so what is utterly hilarious - On Monday afternoon, not only did SWIFT not kick Russia out... but they announced that they were actually giving a Board Seat to Russia.

Mar 12 15:59

Warren Pollock - War Is the Greatest Expression of Failure There Can Be

Analyst Warren Pollock says, “Absolutely, we are headed for war because there is no truth. Without truth, war is the greatest expression of failure that there can be. . . . I think we could see an inflection point this fall. You can see it in the politicking between Republicans and Democrats. You can see it in the rhetoric against ISIS. You can see it in relation to the changes in the laws in relation to the handling of derivatives. You can see it in the prices of food in your grocery store.”

Mar 12 15:23

How Central Banks Harness Governments - The ECB’s Noose Around Greece

Remember when the infamous Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament in December, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks? It seems the European Central Bank (headed by Mario Draghi, former managing director of Goldman Sachs International) has now made good on the threat.

Mar 12 14:53

PAPER: USA unlikely to shape 21st century

The US is unlikely to possess the capacity to shape 21st-century geopolitical order...

Mar 12 13:54

America's top 10 biggest banks

In the years since the financial crisis, the nation's biggest banks have gotten bigger than ever. Together, the top 10 U.S. banks now hold $10.2 trillion in assets.

Mar 12 12:31

Billionaires? The world has 1,826 of them - and 541 live in America

There’s lots of billionaires out there 1,826, to be exact, according to recent painstaking research of Forbes magazine. More than a third prefer the urbane and urban life, and the Big Apple is the town of choice. The publication says that with 78 resident billionaires, New York City has the largest uber-rich population on the planet. But wait, there’s more.

Then there’s Moscow (68 billionaires), Hong Kong (64), London (46), Beijing (45), Mumbai (33), Seoul (29), Istanbul (28), Paris and San Francisco (26) to round out the top-10. Though things can be financially dicey for much of America these days, the nation itself remains billionaire-central.

“Thanks the total of 541 billionaire residents in the U.S., American cities have an edge in their shares of billionaires compared to others around the world. Eleven cities, such as San Francisco, Los Angeles and Dallas, have more than 10 billionaire residents,” reports Forbes staffer Liyan Chen.

Mar 12 12:03

EU leaders unlikely to tighten Russia sanctions at meeting next week: diplomats

European Union leaders are unlikely to tighten sanctions on Russia when they meet next week but will haggle over whether they need to act now to prolong economic sanctions on Russia expiring in July, diplomats said on Thursday.

Mar 12 11:45

Big Oil’s Broken Business Model – The Real Story Behind the Oil Price Collapse

Many reasons have been provided for the dramatic plunge in the price of oil to about $60 per barrel (nearly half of what it was a year ago): slowing demand due to global economic stagnation; overproduction at shale fields in the United States; the decision of the Saudis and other Middle Eastern OPEC producers to maintain output at current levels (presumably to punish higher-cost producers in the U.S. and elsewhere).

Mar 12 11:38

2 banks fail US Fed stress tests, Bank of America put on ‘warning’

The US Federal Reserve has rejected the capital plans of US branches of Germany’s Deutsche Bank and Spain’s Banco Santander in a test designed to gauge whether America’s biggest banks are prepared to withstand a hypothetical financial crisis.

Mar 12 11:17

Retail Sales Crumble, Suffer Worst Run Since Lehman

Putting the headline numbers in context: December -0.9%, January -0.8%, February -0.6%. Excluding the volatile autos and gas, sales dropped once again, sliding -0.2%, below the 0.3% expected - in fact below the lowest estimate - and worse even than last month's downward revised -0.1% decline. And with that the worst run in retail sales since Lehman is now in the record books.

Mar 12 11:02

Big Oil’s Broken Business Model - The Real Story Behind the Oil Price Collapse

Many reasons have been provided for the dramatic plunge in the price of oil to about $60 per barrel (nearly half of what it was a year ago): slowing demand due to global economic stagnation; overproduction at shale fields in the United States; the decision of the Saudis and other Middle Eastern OPEC producers to maintain output at current levels (presumably to punish higher-cost producers in the U.S. and elsewhere); and the increased value of the dollar relative to other currencies. There is, however, one reason that’s not being discussed, and yet it could be the most important of all: the complete collapse of Big Oil’s production-maximizing business model.

Mar 12 10:54

Dow Jones Industrial Average Leaps 170 Points As US Dollar Rally Pauses

U.S. stocks rebounded Thursday, with the Dow Jones Industrial Average leaping more than 170 points, as investors cheered a slight pullback in the U.S. dollar. The greenback's retreat follows a surge earlier this week. The equity market's gains come despite a series of mixed data points, including a surprise drop in U.S. retail sales last month.

Webmaster's Commentary: 

FOX News says today's soaring market is because investors are betting that the FED will hold off raising rates. If this many people are making that bet, then someone leaked the info that rates are not going up.

Mar 12 10:07

The last great run for the U.S. dollar, death of the Euro and $74T in currency derivatives at risk

Are we on the verge of an unprecedented global currency crisis?

Mar 12 09:34

Senator: Don't Use Obamacare or Russian Mobsters Will Steal Your Identity

Freshman US Senator Tom Cotton is currently enjoying his 15-minutes of glorious, Republican fame after organizing the Congressional letter to Iranian leadership. But long before his heyday of mailing potentially illegal memos, Cotton had a different strategy for gaining prominence: warning the uninsured about Obamacare and the Russian mob.

Mar 12 09:32

Drugs, Prostitution, Violence Plague Oil Boom Towns Gone Bust

With crude prices reeling from the effects of geopolitical wrangling and surging production, it’s a tough time to be a resident of an oil boom town. Although drilling in areas like North Dakota’s Bakken oil patch has generated hefty revenues for once quiet communities, it’s also led to an increase in crime. As the Washington Post noted last year, “the arrival of highly paid oil workers living in sprawling ‘man camps’ with limited spending opportunities has led to a crime wave -- including murders, aggravated assaults, rapes, human trafficking and robberies -- fueled by a huge market for illegal drugs, primarily heroin and methamphetamine.”

Mar 12 08:32

McDonald's in global profit free fall as people everywhere increasingly reject chemically-altered toxic fast food

For decades, McDonald's has been the poster child of chemically-altered factory-made fast food. While preying on the emotional imprinting of children with on-site playgrounds and social engineering marketing tactics, the restaurant's true fundamental ethics are reflected in the horrors of the factory food industry: imprisoned chickens in tiny cages, genetically modified soy as meat fillers, chemically-altered menu ingredients and a geopolitical form of processed food imperialism that has resulted in McDonald's restaurants "occupying" hundreds of nations around the world while exporting obesity, diabetes and heart disease globally.

Mar 12 08:32

Fast Food Giants Losing Cash Desperately Try to Convince You They’re ‘Natural’

In a move that follows the continued loss of profits for fast food giants like McDonald’s, Burger King has announced that it will be dropping soda from its kids meal options — a move that undoubtedly comes as the food chain titans realize that the end of fake junk food is coming quicker than expected.

Mar 12 07:58

Obama to 1 Percenters: “Show Me the Money”

To the critics who thought that Barack Obama was going to be a lame duck leader during his last two years in office, it might be true that your respective goose might just be cooked.

Mar 12 07:55

The ISIS-US Empire – Their Unholy Alliance Fully Exposed

Let’s be perfectly clear. The United States is not actually at war with ISIS. As Global Research director, economist and author Michel Chossudovsky plainly points out recently, Obama is simply waging “a fake war” against the Islamic State forces, putting on another propaganda show for mainstream media to keep his flock of American sheeple asleep in echo-chambered darkness. With a mere cursory review of recent historical events, one can readily realize that virtually everything Big Government tells us is happening in the world, you can bet is a boldface lie.

Mar 12 07:53

Greece threatens to seize property, land and businesses belonging to Germany if Angela Merkel does not agree to pay compensation for WWII occupation

Greece is threatening to seize property, land and businesses belonging to Germany if Berlin does not agree to compensate it for the Nazi occupation of the Second World War.

Prime minister Alexis Tsipras has demanded Germany pay more than £112billion in reparations.

He said previous payments did not cover demands for destroyed infrastructure, compensation for war crimes and the return of a forced loan to the Nazis.

Mar 12 06:40

Retail Sales in U.S. Unexpectedly Fall for Third Straight Month

Retail Sales Crumble, Suffer Worst Run Since Lehman

Mar 12 06:35

Guess What Happened The Last Two Times The S&P 500 Was Up More Than 200% In Six Years?

Just a few days ago, the bull market for the S&P 500 turned six years old. This six year period of time has been great for investors, but what comes next? On March 9th, 2009 the S&P 500 hit a low of 676.53. Since that day, it has risen more than 200 percent.

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