ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 24 13:24

Looks like 2000 again for this tech index

Aug 24 13:06

BIGGEST PUBLIC COMPANY RUNNING YOUR STATE

Aug 24 11:08

Oil Below $39 For First Time Since 2009

Aug 24 10:36

Correction or Crisis?

Aug 24 10:36

“Breaking the Fear Factor”: Opposing War, Financial Fraud and State Terrorism, Dismantling Propaganda

We are living in a (western) world dominated by neoliberal dictators, criminals and crooks. And many of us, impregnated with the human idiocy, as so well described by Andre Vltcheck (The West Spreads Intellectual Idiocy) are every day deeper and deeper immersed into fear – fear of action, fear of what’s next – fear of losing our comfort zone. The western propaganda machine paid for by the corporate and financial oligarchy through the presstitute media is constantly indoctrinating the little we have left of our free-thinking brains.

Aug 24 10:03

Washington Supreme Court Rules All SeaTac Workers Be Paid $15 Minimum Wage

SeaTac workers have a reason to celebrate after the Washington Supreme Court ruled 5-4 yesterday that the $15 minimum wage passed by a recent voter referendum should apply to thousands of airport employees.

Aug 24 10:01

‘Millions in UK may face pension shock’

Financial experts warn of a pension shock in the UK, saying millions of Britons may have to work longer for a smaller state pension.

Many financial advisers expect the UK’s retirement age, already rising, to be go up even further.

Aug 24 09:49

Crash Rules Everything Around Me

Aug 24 09:39

Martin Armstrong On Deflation Implosions

Aug 24 09:18

Dow Industrials Bounces From 1,000-Point Plunge

WEBMASTER ADDITION: This is not a bounce, it is a rig! Markets around the world are crashing and it makes no sense for the DOW to open 1000 down, then magically climb back up to -100, other than that the FED is pouring tons of new money all over Wall Street to buy st9ocks and drive their values back up.

Who pays the price for all this new money? YOU do, through inflation.

So this is just another Wall Street scam to take more of your wealth for themselves without your permission!

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." -- Thomas Jefferson, in a letter to John Taylor, Monticello, May 28, 1816

Aug 24 08:45

Making Sense Of The Sudden Market Plunge

snip: The purpose of printing up trillions and trillions of dollars (supposedly) was to create economic growth, drive down unemployment, and stoke moderate inflation. On those fronts, the results have been dismal, horrible, and ineffective, respectively.

However, the results weren’t all dismal. Big banks reaped windfall profits while heaping record bonuses on themselves for being at the front of the Fed’s feeding trough. The über-wealthy enjoyed the largest increase in wealth gains in recorded history, and governments were able to borrow more and more money at cheaper and cheaper rates allowing them to deficit spend at extreme levels.

Aug 24 08:42

Greece: Chaos and Squalid Conditions Face Record Number of Refugees on Lesvos

Weak coordination and severe shortages in facilities and staffing are creating dreadful conditions for the hundreds of refugees and migrants arriving every day on the Greek island of Lesvos, which is seeing the highest number of arrivals in Greece, Amnesty International said after a research team returned from the island.

Aug 24 08:39

Banksterism 101: Banks Get Credit for Helping the Poor — By Financing Their Evictions?

In 1977, Congress wanted to make sure commercial banks fulfilled their commitment to serve all communities in America, regardless of income level. “A public charter conveys numerous economic benefits,” said William Proxmire, then head of the Senate Banking Committee, “and in return it is legitimate for public policy and regulatory practice to require some public purpose.” Under the Community Reinvestment Act, banks are periodically examined for how well they provide lending and investment to low- and moderate-income (LMI) neighborhoods where they take deposits. Since its enactment, 97 percent of all banks examined have received a “Satisfactory” or “Outstanding” grade, according to the Congressional Research Service.

Aug 24 08:21

Jeremy Corbyn will 'sack' Bank of England governor if they refuse to print free money

Richard Murphy, who is seen as the architect of Mr Corbyn's economic agenda, the so-called 'Corbynomics', warned that there was "no such thing" as an independent Bank of England.

He said that if Mr Corbyn's government wanted to use the cheap money from the Bank any governor who refused to carry out the plan for "people's quantitative easing" should be "on the next plane" out of Britain.

Under the proposal, Mr Corbyn would create a national investment bank to fund infrastructure projects which would issue debt to be bought by the Bank of England - effectively meaning the Bank would fund government spending on housing, energy, transport and other projects.

Mr Murphy said current governor Mark Carney has said it would be possible but other experts have warned the Labour leadership frontrunner’s plans would fall foul of EU laws intended to avoid runaway inflation.

Aug 24 07:56

More than Forty Percent of American Children Are Living in Poverty

A January 2015 report from Columbia University’s Mailman School of Public Health reveals that forty four percent of children (those under 18) are living in de facto poverty. The Federal Government issues an artificially low annual official poverty level that radically understates the real level of US poverty. For 2015 the official level of poverty for a family of four, for example, is roughly an income $24,000 a year or less. This is for a family with 2 adults and 2 children.

The government likes to make a distinction between “poor” and “low income” but this is just a semantic game to try and hide the true level of economic deprivation Washington is willing to inflict on millions of children in order to avoid comprehensive welfare reform and realistic taxation polices directed at Wall Street and the 1 percent.

Webmaster's Commentary: 

Please remember, when you step into that voting booth the next time, that elections are not won by the votes of We the People anymore; any candidate running has been thoroughly vetted for what they will give the major corporations through legislation which favors them, in return for overt and covert contributions to their campaigns.

Elections are simply a Kabuki-like exercise to give people the very real illusion that they are somewhat in control of their future, when they absolutely are not, during this time of complete corporate control over the American government.

Aug 24 07:36

More than 40 countries express interest in creating free trade zone with EAEU

Global cooperation is an important trend. Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan organized a Eurasian Economic Union and set up the free trade zone with Vietnam. More than 40 countries and international organizations have expressed interest in establishing a free trade zone with the EAEU — China, Indonesia, Thailand and Cambodia are among them.
Candidates for AIIB chief to present programs in Georgia’s Tbilisi - http://tass.ru/en/economy/815985

Aug 24 06:52

Dow Futures Down 2500 From Highs, Crashing To 2013 Levels

Dow futures are now well below the 16,000 level - down a stunning 2500 points from the May highs. The Dow has given up all its gain since December 2013...

Aug 24 06:51

Donald Trump Puts 'Hedge Fund Guys' on Notice

"They're paying nothing. And it's ridiculous," Trump said of those who make a living running hedge funds. "I want to save the middle class. You know, the middle class—the hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky. And, by the way, when the market collapses, like it is now, the market is going down, they're losing a fortune."

Aug 24 06:51

Panic!! All Major US Equity Indices Halted

Nasdaq was the first to be halted at 0758ET.

The Dow is now down 850 points from Friday's close and halted...

The S&P 500 Futures is halted for the first time in history.

Aug 24 06:48

Dow Jones Industrial Average Plummets More Than 1,000 Points at Open

Webmaster's Commentary: 

But the government market riggers have already pushed it back up to -500.

Aug 24 06:47

Forget The Dips, Sell The Rips

Aug 24 06:18

Amazon Business Practices Under Scrutiny

After a New York Times investigation of how Amazon treats employees’ the company is facing further scrutiny by customers and other organizations.

Aug 24 06:18

IRS Hacked – 330,000 at Risk

When the IRS was hacked back in May they estimated that about 104,000 individuals’ data was breached, but now that number has been revised up to 330,000.

Aug 24 05:59

Central Banks Have Become A Corrupting Force

Are we witnessing the corruption of central banks? Are we observing the money-creating powers of central banks being used to drive up prices in the stock market for the benefit of the mega-rich?

These questions came to mind when we learned that the central bank of Switzerland, the Swiss National Bank, purchased 3,300,000 shares of Apple stock in the first quarter of this year, adding 500,000 shares in the second quarter. Smart money would have been selling, not buying.

Aug 24 05:18

This Map Shows How Many More Students Are Living In Poverty Than 9 Years Ago

Students in America’s schools are much, much poorer than they were nine years ago.

In 2006, 31 percent of America’s students attended schools in “high-poverty” districts, meaning that 20 percent or more of the district's students lived below the federal poverty line. By 2013, however, this number jumped to over 49 percent, according to an analysis of U.S. Census estimates from the nonprofit EdBuild. This means that nearly half of the nation’s children between the ages of 5 and 17 attend schools in communities where a large chunk of families are struggling to get by.

Webmaster's Commentary: 

Obama loves big numbers.

I am nearly certain that the consistent continuation of offshoring/outsourcing of jobs, which remains unabated in his administration, courtesy of the corporations which support him, overtly and covertly, must be a point of personal pride for him.

Aug 24 03:02

Misinformation Hides Real Dimension of Greek “Bailout”

The long saga on Greece is apparently over – European institutions have given Athens a third bailout of 86 billion euros which, combined with the previous two, makes a grand total of 240 billion euros.

There is no doubt that the large majority of European citizens are convinced that this is a great example of solidarity, and that if Greece is not now able to walk on its own feet, the responsibility will lie solely with Greek citizens and their government.

But this is only due to the fact that the media system has, by and large, ceased to provide alternative views … and some people even ignore that the bailout is a loan, and therefore increases the country’s debt.

Aug 24 02:48

Market Plunges, VIX Spikes, Gold Rallies

Aug 24 00:08

China’s stock market crashes another 8%

Aug 23 19:43

Stock Rout Continues in Asia

Asian markets are set to slump on Monday after signs of weakness in the Chinese economy handed Wall Street its biggest one-day drop since 2011 and maintained the rout in emerging markets. Futures tip Japan's Nikkei to slide 1.8 per cent at the open ...

Webmaster's Commentary: 

As of this posting Japan's market is off 3% and China off 3.6%

Aug 23 19:15

Crash Rules Everything Around Me

Aug 23 17:46

How to Survive a Stock Market Crash

Last week, our stock market began to freefall. By Friday, August 21, the market was down more than 1300 points. Over the course of two days, it dropped further than any single-day crash in American history.

But it wasn’t just the US stock market that had a bad week. According to Zero Hedge, markets across the globe are going to heck on a greased slide...

...I’m no financial expert, but this seems like a collection of very, very bad signs. If on Monday, the market is still plummeting, it’s time to take action immediately. None of these steps will have long-term consequences if things level out, but they could make your life a whole lot easier if things get worse.

This is your early warning. Be on alert tomorrow to see if the market recovers or free-falls into a crash.

Aug 23 16:03

China Didn't Cause US Stock-Market Crash

If we listen to the financial-television talking heads, internet gurus, and newspaper economists, you might think that China caused the U.S. stock-market crisis.

Yes, China’s officials devalued their currency. And, yes, stocks plunged. ...

But just because two events happen coincidentally doesn’t mean they are related. And even if the two are related, it does not mean that one caused the other.

Aug 23 14:13

It’s Schadenfreude Time

Aug 23 13:31

Greece repays ECB debt with new bailout money

Repaying debt with more debt!Major Brain malfunction.

Greece made a crucial 3.2 billion euro debt repayment on Thursday using newly released bailout funds, a government source said, as a senior minister argued for rapid elections following a rebellion in the ruling party.

Aug 23 11:28

Shortages Hit Spain As Olive Oil Dries Up

Aug 23 10:57

The Global Economy Is Officially Melting Down

As much as the financiers on Wall Street and the officials at the Fed would like the party to keep going, it looks it’s finally about to stop. Years of bailouts and monetary expansion have created one of the most inflated and artificial economic booms in history, and now it appears that this global economic bubble is deflating. Markets across the board are melting down as we speak, and the financial crash that supposedly “fringe” analysts have been predicting since 2008, is finally upon us.

Webmaster's Commentary: 

Aug 23 09:53

How would a stock price crash affect us?

Aug 23 09:42

Migrants Break Through Macedonian Border, Police Use Stun Grenades

Thousands of migrants broke through police lines and entered Macedonia from the Greek territory on Saturday, local media reported.

Webmaster's Commentary: 

Look at these people driven from their homes and lands. This is the true cost of the money-junkies' greed!

Aug 23 09:35

TPP Stumbles, Puts Sovereignty at Grave Risk

A funny thing happened on the way to global governance. Just when the Trans-Pacific Partnership (TPP) was supposed to move one step closer to world corporatocracy, it stumbled over nationalism and fell. It may soon rise up again—all too soon—but the world’s plutocrats took a pace backward in failing to reach agreement on the final text of the proposed “free trade” treaty at the end of July in Lahaina, Hawaii.

The TPP is meant to bind irrevocably the 11 largest non-United States economies around the Pacific rim, except China, to U.S. hegemony. But despite super secrecy and some 650 U.S. government shills for Big Business—plus 150 reporters and hundreds of lobbyists euphemistically called “stakeholders”—the internationalists were unable to leap key hurdles in their race to control mankind.

Aug 23 09:34

The Imperialism of Jewish Capital

A book published in 1889 "The Red Dragon" by L.B. Woolfolk suggests to me that British (and American) imperialism originated in the need of Jewish bankers and their Gentile confederates to translate money they could create out of nothing (thanks to their control of credit), into real wealth i.e. world ownership.

Aug 23 09:30

Decades of Relentless Austerity in Canada Could Defeat the Conservatives

Nora Loreto, the author of From Demonized to Organized: Building the New Union Movement, and Dru Oja Jay of Unite Against Austerity Campaign discuss how an anti-austerity platform could make a difference in the upcoming Canadian elections.

Aug 23 09:26

Soon You Can Buy Bitcoin With a Debit or Credit Card

By Jeff Paul

Buying bitcoin has been complicated since its origin. That may be about to change.

Coinbase announced a pilot program to allow some users to buy bitcoin with debit cards or credit cards...

Aug 23 09:25

Who holds the world’s sovereign debt?

Aug 23 08:31

Loss of Manufacturing Jobs Isn’t ‘Tectonic’–It’s a Policy Choice

snip: There is also a fundamental difference between the shift out of manufacturing jobs and the shift out of agricultural jobs to which Rattner refers. Workers left agricultural jobs for higher-paying, higher-productivity jobs in manufacturing. The jobs didn’t actually disappear; the workers did not want them.

This is the exact opposite of what we are seeing with manufacturing jobs. Workers are losing relatively good paying jobs in sectors like autos and steel, and are then forced to take low-pay, low-productivity jobs in the retail or restaurant sectors.

Aug 23 08:26

Sanders Vows to Smash Biggest US Banks at Campaign Rally

Democratic presidential candidate Bernie Sanders pledged to break up the biggest financial institutions in the United States at a rally in Greenville, South Carolina, his campaign said in a press release.

WASHINGTON (Sputnik) – Sanders is challenging Democratic frontrunner and former Secretary of State Hillary Clinton, who lost the 2008 Democratic primary in South Carolina against future-President Barack Obama.
Democratic presidential candidate Sen. Bernie Sanders, I-Vt., speaks at a rally, Monday, Aug. 10, 2015, at the Los Angeles Memorial Sports Arena in Los Angeles
© AP Photo/ Ringo H.W. Chiu
Bernie Sanders Wants to Abolish Private Prisons with New Bill

“If a bank is too big to fail it is too big to exist,” Sanders told the crowd of 2,800 at the TD Convention Center, according to the release issued on Friday.

Aug 22 15:53

The Age of Imperial Wars

WWIII - the curtain goes up

Aug 22 12:58

Phoney Opposition: The Truth About the BRICS

snip: But when it comes to the machinations of global geopolitics, this is completely the wrong lens through which to understand what is happening. Much more to the point would be the metaphor of rival gangs competing for territory. It is not the case that the Bloods are the “good guys” and the Crips the “bad guys” or vice versa; they are both criminal networks that use brutality and violence to enforce their control over given areas and to terrorize others.

Similarly, if we understand that rivalries between various international organizations (to the extent that they exist at all) are really only battles between gangsters for control over the global turf, we can more clearly understand that it is not a question of choosing sides in the struggle, but opposing the very ideologies of centralized, hierarchical control that make these institutions possible.

Aug 22 12:46

All Hell Is About To Break Loose As The World Hurtles Into Chaos And Unprecedented Levels Of Fear

such a fuss! I'll get more excited when Gold-in-my-sacks can't meet a margin call...

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