ECONOMY

Nov 06 06:27

CBCNews.ca readers to Stephen Poloz on unpaid work: 'You first'

After Bank of Canada governor Stephen Poloz suggested that jobless university graduates struggling to find work should acquire more experience by working for free, the CBC Community invited Poloz to try it himself.

Nov 05 18:09

Russia may ban circulation of US dollar

The State Duma has already been submitted a relevant bill banning and terminating the circulation of USD in Russia, APA’s Moscow correspondent reports.

If the bill is approved, Russian citizens will have to close their dollar accounts in Russian banks within a year and exchange their dollars in cash to Russian ruble or other countries’ currencies.

Nov 05 16:20

Morgan Stanley: Australia needs stimulus to avoid recession

Australia could face its first recession in almost 25 years unless authorities further stimulate the economy, Morgan Stanley said.

Nov 05 14:44

German Precious Metal Dealers Report Huge Run on Silver Coins

Precious metal dealers in Germany have literally been run down after the latest slump in gold and silver. Wholesalers already expect deferred deliveries.

Nov 05 12:42

Breaking Alert: US Mint SOLD OUT of Silver Eagles! 2 Million Coin Surplus Sold in Under 2 Hours!

The US Mint has just issued an alert to Primary Dealers across the US that Silver Eagle inventories, which according to the Mint began today at over 2 million ounces, are now SOLD OUT as of 12:30pm EST.

The Mint has reportedly sold through over 2 million ounces in less than 2 hours!

It appears that the $15.50 level was the line that broke the camel’s back regarding physical inventories, as physical demand has simply EXPLODED on this morning’s futures dip below $15.20.

Nov 05 11:23

Qatar to become Middle East clearing hub for China's yuan

Qatar will become the Middle East's first hub for clearing transactions in the Chinese yuan, in a step that could over the long run help Gulf oil exporting countries reduce their dependence on the US dollar.

Webmaster's Commentary: 

Qatar just went from "friend" to "kill those bastards" over in DC!

Nov 05 10:19

U.S. dollar index falls below key threshold

The ICE U.S. Dollar Index dipped back below a psychologically significant threshold of 87.0000 Tuesday afternoon as the euro strengthened against the greenback.

The euro surged against the dollar Tuesday, rising as high as $1.2579, as investors took profits following four sessions of losses. The shared currency EURUSD, -0.45% last traded at $1.2556, compared to $1.2504 late Monday.

Nov 05 10:18

From General Motors To General Mediocrity

When General Motors was the nation’s largest employer in the 1950?s, they employed highly educated people such as engineers and scientists. Even their ‘grunt’ and semi-skilled workers were comparatively well compensated for their dedication and hard work. Now fast forward to the 2010?s and WalMart, now the nation’s largest employer, has no need of highly educated skills.

My point here is that, as a nation, we’ve gone from an innovative and producing nation to a country dotted with retail stores and tanning salons. The only jobs left which are realistically obtainable for the masses (that is not in the highly paid niche sectors of Silicon Valley, Wall Street, or the Bakken Oil Fields) are in the service sector.

Webmaster's Commentary: 

And, as is noted below, the service economy is in steep decline!

Nov 05 10:05

IMF Chief indicted for bank fraud ... runs to White House for cover

Nov 05 10:02

AT LAST! Britain leads the entire civilised world in multi-billion Pound adventure:

The UK’s current account deficit climbed to £72.4bn last year, say the latest data from the Office for National Statistics. At 4.2% of gdp and climbing, it’s the biggest deficit in real terms for 66 years….and the biggest deficit of any major industrialised economy in the world.

Once again proving that our long-term economic plan is working, and getting worse. The Daily Telegraph’s view? It doesn’t matter. It’s PMQs in the Commons today. 200-1 that Ed Miliband fails to land a punch, even with that damning statistic to hand. But just to reiterate what a ballsup this is, the rebalancing of the UK economy is going so well, Rolls Royce has just fired 2,600 employees.

Nov 05 09:17

Germany’s Third Largest Political Party Sells €1.6 Million Of Gold In Two Weeks

Disillusionment with Europe’s single currency continues to grow with the cracks beginning to show in it’s heartland, Germany, where the third largest political party is now selling gold coins and bars to raise funds.

Nov 05 09:16

National Economic Suicide: The U.S. Trade Deficit With China Just Hit A New Record High

Did you know that we buy nearly five times as much stuff from the Chinese as they buy from us? According to government numbers that were just released, we imported 44.9 billion dollars worth of stuff from China in September but we only exported 9.3 billion dollars worth of stuff to them. And this is not happening because our economy is so much larger than China’s. In fact, the IMF says that China now has the largest economy on the entire planet on a purchasing power basis. No, the truth is that this is happening because our economy is broken. Every month, we consume far more wealth than we produce. Because the outflow of money is far greater than the inflow, we have to go to major exporting nations and beg them to lend our dollars back to us so that we can pay our bills. Meanwhile, the quality of the jobs in this country continues to go down and our formerly great manufacturing cities are rotting and decaying.

Nov 05 08:50

ISM Non-Manufacturing Index Falls To 57.1 In October

The U.S. service sector continued to weaken in October, adding to losses seen in September, the Institute for Supply Management said Wednesday.

According to ISM, the national non-manufacturing index fell to a reading of 57.1% last month, compared to September’s reading of 58.6%. Consensus forecasts showed that economists were predicting a small decline in the index, expecting a reading of 58.2.

Webmaster's Commentary: 

Now, I wonder why that would be?

Nov 05 08:33

REVEALED: The Government will use its new tax summaries to MISLEAD THE PUBLIC about welfare spending

You'd think a nurse's pension would be counted as a pension, not as "welfare".

But in new tax summaries that will be sent out to 24 million homes by George Osborne, he has done a tricksy re-definition of the word "welfare" that makes the benefits bill look a lot bigger than it actually is.

Nov 05 08:00

BoC governor tells jobless youth living in folks’ basements to work for free

Advocates for young workers took Stephen Poloz to task Tuesday after the Bank of Canada governor recommended that jobless university graduates beef up their resumes by working for free.

Webmaster's Commentary: 

This will certainly help the bottom line of businesses that employ (and abuse) these college educated slaves, but is actually bad for the overall economy as these free workers have no money to pump back into the economy right alongside the former paid workers whose jobs they now occupy.

Nov 05 07:42

15 Reasons Why Americans Think We’re Still in a Recession

Webmaster's Commentary: 

Fifteen damned GOOD reasons, too!

Nov 05 07:36

A Small Step Backward for Mankind

Argument
A Small Step Backward for Mankind
Why America needs to embrace a culture of risk in order to build the next-generation space program.

BY Konstantin Kakaes
NOVEMBER 5, 2014

Two rockets crashed last week: one carrying cargo to Earth orbit, the other on a test flight for a suborbital manned spacecraft. It will take some time for the causes of each accident to emerge; there is no reason to believe the accidents have anything specific, besides timing, in common.

Nov 05 07:31

4 Impressively Insane Reactions to Bad Online Reviews

Obviously, if a reviewer makes up a story about human fingers in food because she didn't approve of the waitress' hairstyle, the restaurant has a right to take action. That's what defamation laws are for. But some recent threats against reviewers have moved way beyond "dealing with crazy liars" and well into "fuck anyone who doesn't like us" territory. One example is so-called "non-disparagement" clauses. You know those long "terms of sale" agreements on websites that no one actually reads because there's a whole goddamn Internet out there to look at instead? You can just shove a sentence or two in there about how the customer is not allowed to complain online, and boom! You're bad-review proof!

Webmaster's Commentary: 

I would have counter-sued under the First Amendment right to freedom of speech and made an example of those bastards! We have a right to complain about crappy products, especially in an age where selling crappy products at inflated prices has become the standard American business model!

Nov 04 15:20

Spot The Bubble

Presented with little comment aside to suspect the answer to our implicit question is something like "it's the new economy" or "you don't understand the new valuation metrics"

Webmaster's Commentary: 

Something is very fishy about Alibaba!

Nov 04 15:03

What One Town Did With This Abandoned Walmart Building Will Leave You Impressed

You can now find a Walmart in most towns and cities. Usually taking up an average 2.5 football fields of space, they are almost always massive, preying on our programmed materialism with cheap goods usually made in third world countries. So what happens when one of them closes? Usually not much, but one town in Texas had another idea.

Instead of letting this massive building sit vacant, officials in McAllen, Texas did something pretty amazing. They transformed the vacant property into the largest single floor public library in America.

Nov 04 12:34

Union rips Detroit bankruptcy judge over legal fees

A Detroit firefighter’s union criticized U.S. Bankruptcy Judge Steven Rhodes on Tuesday for an “offensive and unfair” ruling preventing creditors from challenging fees charged by the city’s bankruptcy lawyers.

The city’s law firm, Jones Day, is plundering Detroit by charging high fees that have totaled more than $25 million, said Jeff Pegg, president of the Detroit Fire Fighters’ Association.

In a bold move, Pegg accused Rhodes of having an agenda while overseeing the biggest municipal bankruptcy in U.S. history.

Nov 04 12:21

It begins: German bank charging NEGATIVE interest to its customers

Central bankers today have an equally delusional view of the world. Just three months ago, Mario Draghi (President of the European Central Bank) embarked on his own Quixotic folly by taking certain interest rates into NEGATIVE territory.

Draghi convinced himself that he was saving Europe from disaster. And like Don Quixote, everyone else has had to pay the price for his delusions.

On November 1st, the first European bank has passed along these negative interest rates to its retail customers.

Nov 04 11:30

FLASHBACK - U.S. Will Spend $24.5M to Circumcise Men in Swaziland

The United States Agency for International Development is planning to spend $24.5 million to circumcise an estimated 150,000 to 200,000 male infants and males aged 10 to 49 in the kingdom of Swaziland by 2018.

Webmaster's Commentary: 

Your tax dollars at work!

Nov 04 10:46

DWP Orders Man To Work Without Pay For Company That Let Him Go

A man who was let go at the end of a temporary job has been ordered by the Department for Work and Pensions (DWP) to work for the same firm for six months without pay.

Electronics specialist John McArthur, now unemployed, says he is living off 16p tins of spaghetti and without heating after being sanctioned by a jobcentre for refusing to work unpaid for LAMH Recycle in Motherwell, a Scottish social enterprise.

He says he was happy to work for LAMH under the now-defunct future jobs fund for the minimum wage in 2010-2011, but refuses on principle to do the same job unpaid.

Nov 04 10:19

Crude oil at four-year low after Saudi Arabia price cut

Crude oil prices have hit a four-year low after Saudi Arabia unexpectedly cut the price of oil sold to the US.

Brent crude fell to near $82 a barrel in midday trading, as worries about global growth also spooked investors.

Earlier, the European Commission reduced its growth forecasts for the eurozone.

Investors are concerned about the US oil industry, in the face of slowing growth and lower prices.

Nov 04 10:19

The government is already in a soft default and is addicted to low interest rates: Government expenses at $3.87 trillion while receipts enter at $3.29 trillion.

The term default has varying definitions depending on whether you are an individual, a big bank, or the government. For you as an individual, default will occur when you are unable to pay your debts with the income you are generating. You are constrained by your income. As we saw with the housing crisis, when you are unable to pay your mortgage a bank will foreclose on your home. Unable to pay your auto debt? Repossession is the likely next step. Not making those college loan payments? Garnishment of wages is a typical course of action. Yet for the government, they have the ability to print their way out of problems courtesy of our fiat money system. The end result is inflation in the real economy which ultimately impacts families. Banks of course have the ability to restructure debt and circumvent accounting rules to their own convenience. If we applied the same rules of default that individuals follow to the government, we would already be in a soft default.

Nov 04 09:15

Silver Coin Sales At U.S. Mint Soar To Highest In Two Years

It never fails: any time there is a dump in precious metals through their paper representation (GLD, SLV, or futures) typically as a hedge to a rally in the dollar (because last week Japan materially increasing its fiat monetary base was also somehow negative for gold and silver) or to meet margin demands from cross-asset liquidation, demand for physical PMs soars confirming yet again that any connection between paper prices and physical demand no longer exists.

Nov 04 08:02

Two Charts On Why the Obama Economy Sucks

All of the blather about how the unemployment rate has decreased, the stock market is up, and so on, conceals the fact that there are less jobs for ordinary people, and they pay less. Yes, the rich are doing great, but that’s all.

Why are Democrats losing the Senate? I won’t say it’s just this, it’s not. But if the economy was actually good for most people, they probably would be holding it.

Webmaster's Commentary: 

It's not only the economy; it is also that rather than make deals to insure access to what the US government wants, the US government has been using wars as a method of insuring access to what it wants.

And these wars (and unfortunately, potential coming wars) have had a lousy track record when it comes to achieving the goals the US government wanted to achieve.

Nov 04 07:19

Free College or Another New War?

Noting that U.S. college costs have gone up 500% since 1985, the Washington Post recommends seven countries where U.S. students can go to college for free without bothering to learn the language of the natives or anything so primitive.

These are nations with less wealth than the United States has, but which make college free or nearly free, both for citizens and for dangerous illegals visiting their Homelands.

How do they do it?

Three of them have a higher top tax rate than the United States has, but four of them don’t.

What does the United States spend its money on that these other countries do not? What is the largest public program in the United States? What makes up over 50% of federal discretionary spending in the United States?

If you said “war,” it’s possible you were educated in a fine foreign country.

Nov 04 07:00

No matter who wins, today's election outcome can't stop America's head-on course toward self-destruction

Regardless of the outcome of today's U.S. mid-term elections, there are some things that won't change one iota. While most of America has finally come to realize what a disaster Obama's presidency has really been in real-world terms, there are at least five other disasters looming in America's near future. And neither Republicans nor Democrats have any real plan to deal with these issues... especially when it's so much easier to get elected by slandering your opponent rather than proposing practical solutions.

So here's my warning on the five biggest threats still facing America in the years ahead. Don't hold your breath thinking anyone in Washington D.C. is willing to address any of these. After all, they are the ones who created most of these problems in the first place.

Nov 03 14:04

Could Collapse At Anytime: “When It Ends, All Hell Is Going To Break Loose”

It happens fast and it often comes without any warning to the general public. In 2008 they were able restore some confidence in the system through massive infusions of cash and a healthy dose of mainstream propaganda. But nearly seven years on, as Michael Snyder points out in his analysis below, the system is now more dependent on big banking cartels and centralized government than ever before. And, because the underlying issues behind the crash of 2008 have never been resolved – things like massive debt and leverage, for example – we now sit on the brink of a disaster so large that it literally threatens the stability of the entire planet. One misstep here and we’re not just looking at a stock market crash or more job losses, but a shift in the world order. And given what we’ve seen throughout history from the elite decision makers in our society, we should fully expect that the worst is coming.

Nov 03 13:52

Why Housing Is Dead: First-Time Buyers Collapse To 27-Year Lows

The Millennials (one of the biggest generations in US history) are just not getting with the status quo program. As we detailed previously, with lower credit scores, less disposable income, and a soaring number of people living with their parents; so it should be no surprise that The National Association of Realtors (NAR) today admitted that first-time homebuyers plunged to the lowest level in 27 years. The blame - of course - rather than low/no-growth fiscal policies, student debt servitude, and inequality-driving cheap-funding monetary policy, is price competition from 'investors' and too "stringent credit standards," perfectly mirroring FHFA's Mel Watt's Einsteinian insanity desire to dramatically ease lending standards and slash minimum down-payments (as we noted previously).

Nov 03 13:52

Yellen Shocked After Fisher Again Reveals Fed Is Source Of Record Inequality

As Janet Yellen prepares to meet with President Obama this morning for the first time, it appears The Dallas Fed's Richard Fisher has planted a rather uncomfortable tape bomb for her to explain:

FISHER: QE3 WAS A GIFT TO THE RICH

So right before the Midterm elections, a week after Janet Yellen discussed inequality, she is summoned to meet with The 'fair' President to explain how her policy is keeping Obama's dream alive?

Nov 03 13:51

The Slaughter Continues: Hedge Funds Tumble In October, Turn Negative For 2014 Despite Central Bank Sticksave

As we reported last week, one of the most notable features of October was not so much the relentless intervention by central banks to prop up the global capital markets Ponzi scheme and send the S&P to fresh record highs - that much should have been apparent years ago - but rather that just as hedge funds were preparing to aggressively capitalize on the first notable downturn in the "market" in years, the carpet was yanked from under everyone's legs, and hedge funds (which by definition "hedge", i.e., put on offsetting, short positions to plain vanilla longs, something for which they are compensated orders of magnitude higher than mutual funds) were slaughtered once again, following the biggest, or as we called it most Historic, short squeeze in 3 years.

Nov 03 13:51

How The Petrodollar Quietly Died, And Nobody Noticed

Two years ago, in hushed tones at first, then ever louder, the financial world began discussing that which shall never be discussed in polite company - the end of the system that according to many has framed and facilitated the US Dollar's reserve currency status: the Petrodollar, or the world in which oil export countries would recycle the dollars they received in exchange for their oil exports, by purchasing more USD-denominated assets, boosting the financial strength of the reserve currency, leading to even higher asset prices and even more USD-denominated purchases, and so forth, in a virtuous (especially if one held US-denominated assets and printed US currency) loop.

Nov 03 12:39

Infuriating Facts About Our Disappearing Middle-Class Wealth

A recent posting detailed how upper middle class Americans are rapidly losing ground to the one-percenters who averaged $5 million in wealth gains over just three years. It also noted that the global 1% has increased their wealth from $100 trillion to $127 trillion in just three years.

The information came from the Credit Suisse 2014 Global Wealth Databook (GWD), which goes on to reveal much more about the disappearing middle class.

Webmaster's Commentary: 

All tyrants seek to destroy the middle class, as it is from the middle class that opposition to oligarchy arises.

Nov 03 10:06

The New York Fed Has Contracted JPMorgan to Hold Over $1.7 Trillion of its QE Bonds Despite Two Felony Counts and Serial Charges of Crimes

The Federal Reserve Board of Governors in Washington, D.C., which functions as the central bank of the United States, has farmed out much of its Quantitative Easing (QE) programs to the Federal Reserve Bank of New York since the financial crisis of 2008. The Federal Reserve Bank of New York has, in turn, contractually farmed out a hefty chunk of the logistics of that work to JPMorgan Chase in the last six years.

Nov 03 10:03

Obamacare Could Face Large Numbers of Dropouts

More than half the people who enrolled in Obamacare last year don’t plan to sign up again—and that’s bad news for the president’s health care law.

Nov 03 08:51

How the fall of France could cement the rise of Ukip

“I wouldn’t hold French shares,” said Nigel Farage with a wink, belying his previous life as a stockbroker. “The country is in real trouble,” the Ukip leader told me at an investment conference in London last week. “As someone who loves France, it gives me no pleasure to say that.”

While Mr Farage casually dishes out advice to sell French stocks, he knows only too well that, for all his admiration of Gallic gastronomy and tabacs, the singular weakness of the French economy, and related political fall-out, is playing into his hands.

Nov 02 13:58

States slashing education spending

State-level K-12 education spending has fallen dramatically in many states since 2008. In that time, 29 states cut per pupil spending, shifting the burden of financing education to local school districts and, in many instances, forcing schools to cut costs and even teachers.

Webmaster's Commentary: 

Except of course for those illegal immigrant children who are getting schooling, pony rides, guitar lessons, medical care and so forth all at taxpayer expense!

Nov 02 08:55

British banker linked to gruesome Hong Kong slayings

A 29-year-old British banker has been arrested in Hong Kong in connection with the grisly murder of two women, a rare occurrence in a city known for its low homicide rate.

Hong Kong police said in a statement on Saturday that a 29-year-old foreign man had been detained earlier that day after two women were found dead in an expensive apartment in Wan Chai, a central city district known for its night life.

The man has not been charged.

Police declined to give the name or the nationality of the man, whom local media and a source with knowledge of the situation have identified as being a Bank of America-Merrill Lynch banker.

Nov 02 08:55

Fishy packaging: Shrimp in U.S. often mislabeled, study finds

When buying shrimp, you may not be getting all you're paying for. A study out Thursday reveals that nearly a third of shrimp products are being misrepresented, everything from labeling farmed species as "wild" to using aquarium pets as fillers in bags of salad-sized shrimp. The government is taking steps to make the seafood we eat safer, but current measures may not be going far enough to address the problem.

Nov 02 08:54

Japan risks Asian currency war with fresh QE blitz

The Bank of Japan is mopping up the country's vast debt and driving down the yen in a radical experiment in modern global finance

Nov 02 08:34

Hagel: New World Order Means Endless War

It seems lately that every war the United States gets itself into can’t just be another war, it has to be an open-ended clash of civilizations. Secretary of Defense Chuck Hagel set out that assessment fairly straightforwardly in his recent comments at the Washington Ideas Festival.

Nov 01 19:35

How Russia, Iran and Other Oil-Rich Nations Will Be Slammed By Falling Crude Oil Prices

Global oil prices have dropped to their lowest levels in years, plunging by more than 25 percent in the past five months. Slowing growth in Europe and China is drying up demand, all while production is soaring in the United States and Libya, creating a supply glut. With both of these trends unlikely to change in the coming months, analysts say that lower crude prices could last well into 2015.

Nov 01 19:28

Americans pay more for slower Internet

Clocking in at the top of the list was Seoul, South Korea, where Internet users can get ultra-fast connections of roughly 1000 megabits per second for just $30 a month. The same speeds can be found in Hong Kong and Tokyo for $37 and $39 per month, respectively.

Residents of New York, Los Angeles and Washington, D.C. can get 500-megabit connections thanks to VZ, Tech30), though they come at a cost of $300 a month.

Nov 01 10:02

BREAKING: 200 Thousand Doctors Dump Obamacare

Nov 01 09:09

Pony Rides for Illegals, Slashed Benefits for Americans

Illegal immigrant children entering the country without their parents or adults, now called “Unaccompanied Adults,” or UACs by the government, are receiving a tax payer subsidized bounty.

From petting zoos with miniature ponies to a tilapia fish farm operations and guitar lessons, UACs are lavished with perks, according to documents released by Sen. Charles E. Grassley, an Iowa Republican.

Preferred contractors reap handsome profit when they provide these dished out perks, in some cases upward to $329 per child a day.

Meanwhile, for citizens, federal and state government have decided to cutback on food stamps and unemployment benefits.

Oct 31 12:59

Japan Goes “All In” On Quantitative Easing … Even though the Inventors of QE All Say It Destroys the Economy In the Long-Run

The Bank of Japan’s expansion of record stimulus today may see it buy every new bond the government issues.

The BOJ said it plans to buy 8 trillion to 12 trillion yen ($108 billion) of Japanese government bonds per month under stepped-up stimulus it announced today.

***

The central bank is already the largest single holder of Japan’s bonds, and the scale of its buying could fuel concerns it is underwriting deficits of a nation with the heaviest debt burden. The BOJ could end up owning half of the JGB market by as early as in 2018, according to Takuji Okubo, chief economist at Japan Macro Advisors in Tokyo.

“Kuroda knows when to go ALL in,” Okubo wrote in a note. “The BOJ is basically declaring that Japan will need to fix its long-term problems by 2018, or risk becoming a failed nation.”

Oct 31 12:24

Obama's Soak the Rich 60% Tax Hike on Investment Income Is Drowning the Middle Class

The curse of the U.S. economy today is the downward trend in “take-home pay.” This is the most crucial economic indicator for most Americans. ... Most workers’ pay has not kept up with inflation for at least six years. ...

Why aren’t wages rising? There are several reasons, including that many jobs today don’t pay as well as the ones lost during the recession. ObamaCare has made health insurance more expensive for businesses—as the nation’s biggest employer, Wal-Mart , recently reported—and that takes a bite out of take-home pay. Yet one factor is often overlooked: the tax increase on “the rich” at the beginning of 2013.

Oct 31 11:46

In California, Consumer Watchdog's Prop 45 Challenges Obamacare — From the Left

Blue Shield of California, one of the state's four major health insurers, has a sales office on the 20th floor of the Pacific Corporate Towers in El Segundo. Had the employees peered down to the plaza on a recent Tuesday morning, they would have seen a small cluster of picketers.

From 300 feet up, it would be impossible to read the signs, or hear the chants, or smell the aroma drifting off the white pickup truck that was parked below in a loading zone. But on the ground, the scent is unmistakable: manure.

Jamie Court, the president of Consumer Watchdog, shovels some into a wheelbarrow and announces that he will be delivering it to Blue Shield's executives.

"We're gonna give them back what they've been giving us for the last five months," he tells a row of news cameras. "We're not buying their bull."

Oct 31 08:56

BILL CLINTON: Republicans Are Trying To 'Cash In On The Misery Of The American People'

Former President Bill Clinton claimed on Thursday that one of the main reasons Republicans are expected to perform so strongly in the upcoming midterm elections is their willingness to capitalize on the lingering effects of the 2008 economic recession.

Webmaster's Commentary: 

"And you Americans are all WRONG to decide who to vote for because of irrelevant things like whether you have a job or not, lost your home, are going hungry, had your kid killed in a war on the other side of the planet. Really, you need to decide who to vote for based on who has the best TV ads (like my wife) and who is the snappiest dresser (like my wife) and who has the best hair styles (like my wife). What is WRONG with you people?" -- Monica's rival's husband.

It should be remembered that when Bill Clinton took office, there was a huge cash surplus built up on the Social Security trust fund in anticipation of the baby-boomer retirements. Clinton created his magical budget surplus by "borrowing" that extra cash and spending it as general revenue, replacing it with special Treasury Bonds which the government is now unable to redeem, adding to the misery of retirees who are being told their benefits must be cut.

Oct 31 08:52

The US Economy Runs Into A Problem If Oil Hits $75

US shale oil is now the marginal swing barrel in the new world oil order, and as Goldman Sachs warns (despite Larry Kudlow apparently knowing better), a decline in WTI to $75/bbl would start to significantly slow US shale growth (and thus employment, capex, and the entire US economy).

Webmaster's Commentary: 

Obama was intent on harming Russia's oil exports and made a deal with Saudi Arabia to increase production to crush oil prices. But, as has become the hallmark of decision-making by the White House, nobody thought this all the way through as to what harm it might bring to the US. And Saudi Arabia is laughing that US attempts at oil independence are being crushed under the anti-Russian agenda and US dependence on Saudi Arabia will increase!

Oct 31 08:47

Local GMO Fights Smash Records as Monsanto's Millions Bankroll Opposition

As voters in Oregon, California, Hawaii and Colorado prepare to weigh in on whether genetically modified organisms, or GMOs, should be banned or regulated in their states or communities, grassroots campaigns are being overwhelmed by millions that agrochemical and food industry titans are pouring in to defeat such measures.

Monsanto alone spent roughly $14 million in various local races this election year.

Oct 31 08:29

BEX ALERT - Blame the fall in homeownership on Generation X: Why did the homeownership rate fall so dramatically for those 35 to 44?

We’ve all heard about the broke Millennials living at home with mom and dad unable to move out into a very expensive rental. For years, we’ve been told that somehow this young group of people would represent some pent up demand to buy homes. This demand never materialized. Instead, you have tight inventory in certain markets being fought over by investors and those willing to pay current prices while stretching their budgets. Yet volume remains incredibly pathetic. The homeownership rate has fallen dramatically and some point the blame to the Millennials. But as it turns out, the big drop has come from those 35 to 44. Generation X overall has been a massive drag on the housing market. The young are simply not buying homes like they once did and many are opting into the rental market. So how big of a drag is Generation X on the housing market?

Webmaster's Commentary: 

Another puff piece trying to find a scapegoat for the economic woes while avoiding a mention of the root cause of all of the problems, which are those private central banks issuing all of the public currency as a loan at interest, a system which by design produces more debt than money with which to pay that debt. But we dare not talk about that reality! So let's drop the blame on the kiddies!

Oct 31 08:12

9/11 Was NATO’s License to Expand Globally

The 9/11 attacks on the United States undoubtedly benefited a number of actors, including the American military-intelligence complex, Israel, and most definitely, the North Atlantic Treaty Organization (NATO). The Cold War-era, the area of responsibility for which had long been confined to Europe and North America, used the provisions of Article 5 of the NATO Charter – which states that an attack on one member is an attack on all – to extend NATO’s power deep into Eurasia, particularly in Afghanistan, Pakistan, and Kyrgyzstan.

After engaging in out-of-area invasions and occupations of Afghanistan, Iraq, Somalia, Libya, and Syria and, again in Iraq, against the «Islamic State,» the «North Atlantic» military bloc has transformed itself from a Cold War defensive alliance into a global offensive axis of nations that acts with or without United Nations authorization.

Oct 31 07:26

Money doesn't Kill People, Bankers Kill People.

Each of us must manage individually or in groups within the sad and irrevocable decay of the world we knew. It's decline accelerates with every passing day. As that progresses, conditions worsen. It will come to pass that many will find it no longer possible to live where they are, while at the same time, having waited too long, are no longer able to move away. Things can occur at a previously unimagined speed, while taking all kinds of frightening and unexpected turns. It stands to reason that the further away one is from the epicenters, the better ones chances are.

Oct 30 12:01

Ukraine May Not Receive Next IMF Tranche Until 2015: Spokesperson

Ukraine may not receive a third aid tranche from the International Monetary Fund (IMF) before next year, as the mission may be unable to make a decision before a new Ukrainian government is formed, IMF spokesperson Gerry Rice told reporters Wednesday.

Oct 30 11:35

Skinnier Seats on More Crowded Planes

Delta, United, American, Southwest and other airlines around the world have installed seats with trim metal frames and ultrathin cushions, squeezing rows closer together to pack more people on each flight. Three-quarters of Delta’s domestic fleet and one-quarter of United’s now have the new slim-line seating.

Oct 30 10:04

Payday loan brokers help themselves to UK savers’ accounts, customers outraged

Brokers linked to payday loan companies may be raiding the bank accounts of over 1 million Britons, with many being the poorest in society, the UK’s biggest banks have warned.

Natwest, one of the largest retail banking chains in Britain, said it was “inundated” with complaints from customers.

Victims claimed that brokerages, offering deals on payday loans – short term loans with very high fixed rates of interest – are extracting sums of £50 to £70 from savings accounts without informing customers first.

Webmaster's Commentary: 

Will the person who borrowed the blueprints for the guillotine please return them. Requests for this information are piling up! :)

Oct 30 09:28

The Wrath of Draghi: First German Bank Hits Savers with Negative Interest Rate

Deutsche Skatbank, a division of VR-Bank Altenburger Land, which was founded in 1859, is not the biggest bank in Germany, but it’s the first bank to confirm what German savers have been dreading for a while: the wrath of Draghi.

Retail and business customers with over €500,000 on deposit as of November 1 will earn a “negative interest rate” of 0.25%. In less euphemistic terms, they have to pay0.25% per annum to the bank for the privilege of handing the bank their hard-earned money or their business cash.

“There will be no direct impact on your savings,” the ECB announced five months ago. “Only banks that deposit money in certain accounts at the ECB have to pay.” But it added ominously, “Commercial banks may of course choose to lower interest rates for savers.”

And that would be good for savers:

Webmaster's Commentary: 

To those of you in the US who say, "That CANNOT possibly happen in the US", please think again.

Have no more money in your checking account than is needed to pay your bills. Place all the rest of your money under your personal control. Think about getting small, untraceable amounts of gold and silver to add to your personal portfolio.

Inflation in the US has already catastrophically destroyed whatever you have saved; the suppression of gold and silver value will not continue forever.

Oct 30 09:00

Zombie foreclosures rise in 16 states and 60 metro areas

There were 117,298 owner-vacated foreclosures nationwide in the third quarter of 2014, representing 18% of total properties in foreclosure, down from 141,406 in the second quarter of 2014 (17% of all foreclosures) and down 152,033 (23% of foreclosures) in the same period last year, according to data released Thursday by the real estate website RealtyTrac. “Zombie” foreclosures occur when the owner leaves the property, but the bank has yet to take possession of it.

Oct 30 09:00

Widespread layoffs and other cost cutting measures cold hit Tim Hortons after Burger King takeover, study says

Widespread layoffs and strict cost cutting measures could befall Tim Hortons if Burger King’s parent company takes over the chain, says a study from the Canadian Centre for Policy Alternatives.

Oct 30 08:32

Cost of War on ISIS- 1 Billion dollars and counting, expanding, consuming, growing!

This has just gotta have the military industrial complex/banking scum rejoicing?

These are the numbers for the US. When I get a hold of some Canadian figures I will put them here too!

Bankrupting a nation- debt enslaving it's people

Oct 29 13:45

Total War Over The Petrodollar

The conspiracy theories surrounding the death of Total SA’s chief executive, Christophe de Margerie, started the second the news broke of his death. Under mysterious circumstances in Moscow, his private jet collided with a snowplow just after midnight. De Margerie was the CEO of Total, France’s largest oil company.

He’d just attended a private meeting with Russian Prime Minister Medvedev, at a time when the West’s relationship with Russia is fraught, to say the least.

One has better odds of being struck by lightning at an airport then a snow plow, or any other ground support vehicles hitting a plane and killing all inside the plane, in my opinion. And I say that as someone who’s familiar with airports, having worked at Vancouver International Airport when I was in university; I was the one who would bring the plane into its parking bay.

Oct 29 13:33

Russia jumps record 30 places in ‘Doing Business’ ranking

Russia is now ranked 62nd in the World Bank’s new 2014 Doing Business report, which measures the ease of doing business in 189 countries worldwide. The country climbed 30 positions from 92nd spot in 2013.

Oct 29 12:50

Attempts being made to suppress Russia, BRICS in international arena — experts

Attempts are being made to suppress in the international arena not only Russia but the entire BRICS developing-nation assembly of Brazil, Russia, India, China and South Africa, Russian experts said on Wednesday.

“The current situation shows that there are attempts to suppress not only Russia but also the BRICS given that the global role of this association has only intensified,” Vladimir Davydov, director of the Russian Academy of Sciences' Institute of Latin America, said at a Moscow-Brasilia video conference.

Oct 29 12:00

Basil Zaharoff - A Name You Should Know

Basil Zaharoff, 1849-1936, a Director of Rothschild-owned Vickers
that produced guns and armaments in two world wars.
"The Zaharoff System" involved selling arms to both sides in a conflict
and even instigating conflicts.

Oct 29 10:38

Could Allen Stanford go free? Convicted fraudster appeals

Jailed financier R. Allen Stanford, convicted in 2012 of running a massive global Ponzi scheme that rivals the Madoff scandal, says he is the victim of an illegal prosecution, and "the clearest of assaults on the U.S. Constitution."

The comments come in Stanford's formal appeal of his conviction, filed in federal court on Wednesday. Stanford wrote the appeal himself at the prison in Florida where he is serving a 110-year sentence. Having fired the last of a string of court-appointed attorneys, and with no funds to hire a replacement, he is representing himself even though he has no legal background. He has also asked to argue his case in person before the Fifth Circuit Court of Appeals in New Orleans, a task normally handled by experienced attorneys.

Oct 29 07:57

Why Millennials Are Not Buying Houses Or Cars

“Since World War II, new cars and suburban houses have powered the economy and propelled recoveries. Millennials are not buying houses or cars, and may have lost interest in both.”

You mean the generation that paid three times as much for college to enter a job market with triple the unemployment isn’t interested in purchasing the assets of the generation who just blew an enormous housing bubble and kept it from popping through quantitative easing and out-and-out federal support? I’m curious as to how they have rationalized we have simply “lost interest”.

Oct 29 07:42

FB For Currency Scams? EU May Probe Bankers’ Social Media

Traders accused of currency manipulation at some of the world’s biggest banks may soon have their social media data handed over to authorities conducting the investigation.

All of the bankers’ communications will be handed over to investigators to discover if banks have been tampering with currency interbank rates on the $5.3 trillion-a-day foreign exchange market, Bloomberg reported citing unnamed source.

Oct 28 15:18

EU funding row sparks huge surge in UKIP support – poll

Support for Britain’s anti-EU UK Independence Party (UKIP) has reached a record high following Brussels’ recent effort to levy a mammoth £1.7 billion extra charge on Britain, a new poll reveals.

The results of The Independent’s ComRes survey, published on Tuesday, are a welcome development for Nigel Farage’s Eurosceptic party, which is aiming to secure its second seat in the House of Commons in November.

UKIP is also hopeful its first ever Police and Crime Commissioner will be elected later this week.

Oct 28 15:17

UK economy stronger than first thought after drugs and prostitution boost GDP figures

Figures show that the UK economy shrank by 6% at the height of the recession in 2008-09, lower than the previous estimate of 7.2%.

This is because the ONS's GDP calculations now include contributions to the economy from prostitution and sales of illegal drugs. In total, the new inclusions contributed £10bn to the UK in 2009 alone.

Webmaster's Commentary: 

Desperation on the cusp of madness.

Oct 28 14:18

Okay, I was wrong, The United States is not the wealthiest nation on Earth. It's 193rd!

Webmaster's Commentary: 

America has been lured into living on credit for far too long. Great for the bankers but not for the people.

Oct 28 09:59

Wall Street Journal: Wealth Inequality Is Your Own Dumb Fault

Yesterday the Wall Street Journal gave prominence to the following headline on page one of its newspaper with the story jumping to page A2: “Bad Market Timing Fueled Wealth Gap.” Through the use of the word “fueled” in that headline, the reader is conditioned to believe that market timing is a significant cause of wealth inequality in the United States – a completely bogus idea for which there exists mountains of research to the contrary.

Oct 27 20:39

IRS seizes hundreds of perfectly legal bank accounts, refuses to give money back

The Internal Revenue Service has been seizing bank accounts belonging to small businesses and individuals who regularly made deposits of less than $10,000, but broke no laws. And the government is refusing to return all the money taken.

Oct 27 14:45

10 Common Medical Billing Overcharges You Can Prevent

From surgery costs, to administrative fees, to equipment charges, hospitals and clinics routinely overcharge their patients for services both big and small. The medical principle of “first, do no harm” sometimes seems to have gone out the window completely.

Unfortunately, there are no laws to keep hospitals and clinics from doing this. It is our responsibility to step up and blow the whistle on these—let’s face it—criminal practices.

Oct 27 14:44

8 Unfair Medical Billing Practices and How to Fight Them

3) Double-billing

Often a medical bill can include separate charges for items that were included in other bills. For example, hospitals sometimes charge separately for the sheets and pillows on a hospital bed, a cost that is usually included in the price of the room. It’s also possible to see a charge for the scrubs, masks and gloves worn by an OR staff on both the surgery bill and the bill for the operating room time.

Oct 27 14:43

Medical "Double" Billing - paid cash, provider still billed insurance company

I schedule a visit with a PT in December 2012, provide insurance info. Shortly after called by admin staff at office, told insurance company says I have deductible to satisfy, so first visit will be $150 (the cash rate). Pricey but I can't wait, so I don't cancel. I go to visit, pay $150 before I even see the therapist. Get treated, assume eveything is fine. Fast-forward to one week ago, receive second bill for another ~$30 or so.

Oct 27 14:43

Avoid Being Double-Billed for Co-Pays

Some hospital and physician group practices are billing GIC members for office visit copays that the member already paid at the provider's office. The GIC has become aware of these occurrences through members, staff experience, and confirmation from our plans. Here is what you can do to protect yourself:

Oct 27 14:33

False medical claims

Unethical providers may double- or triple-bill health insurers for the same treatments, hoping the insurer won't discover the overruns in the big stack of bills.

Oct 27 14:32

2 Investigators: Are Hospitals Double-Billing Some Patients?

Understanding a hospital bill can be frustrating and overwhelming.

Depending on how good or bad your insurance is — or if you have no insurance at all — you may get stuck paying excessive or duplicate charges and not even know it.

Oct 27 13:47

Pending Home Sales Disappoint As 15% of Realtors Report Clients Unable To Obtain Financing

Less than a week after the NAR reported September existing home sales which surged at a 5.17 million annualized pace, the highest since September 2013, rebounding from the August drubbing which was also the worst miss in 2014, today the NAR flip-flopped and disappointed sellside expectations of a 1.0% rebound following the August -1.0% decline, rising a modest 0.3%, and less than half the 2.2% expected increase from a year ago, rising only 1.0% Y/Y. This was the third miss in the series in the last 4 prints.

Oct 27 13:46

US child poverty remains at highest rate in 20 years: Report

A new report says nearly 25 percent of American children live in poverty, the highest level in 20 years.

The report, published in the US medical journal JAMA Pediatrics, found that over 16 million children live in poverty in America.

Oct 27 12:55

Fed set to finally get out of the market

Fed expected to announce end of quantitative easing this week

Oct 27 11:18

Why Do Banks Want Our Deposits? Hint: It's Not to Make Loans.

Many authorities have said it: banks do not lend their deposits. They create the money they lend on their books.

Robert B. Anderson, Treasury Secretary under Eisenhower, said it in 1959:

When a bank makes a loan, it simply adds to the borrower's deposit account in the bank by the amount of the loan. The money is not taken from anyone else's deposits; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower.

The Bank of England said it in the spring of 2014, writing in its quarterly bulletin:

The reality of how money is created today differs from the description found in some economics textbooks: Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.

. . . Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower's bank account, thereby creating new money.

Oct 27 09:58

Stock markets threatened by collapse in Chinese consumer demand

The capitulation of the Chinese consumer threatens to drag stock markets around the world into a death spiral as one of the pillars of global growth is undermined.

Webmaster's Commentary: 

"Oh yes, this is all China's fault. Blame China!" -- Official White Horse Souse

Oct 27 07:42

Hungarians revolt against internet tax (PHOTOS, VIDEO)

Furious with the government plan to impose tax on Internet data traffic, thousands of Hungarians rallied in front of the Economy Ministry in Budapest to protect the freedom of the internet from the 'anti-democratic' measure.

Tens of thousands gathered in front of the Economy Ministry building on Sunday, urging the politicians to scrap the plan that will see internet service providers (ISPs) pay 150 forints ($0.62) for every gigabyte of data traffic transferred over their networks.

Oct 27 07:23

3 reasons why you should expect a 30% market meltdown

In a commentary for Marketwatch just over two months ago, I predicted that the U.S. stock faced at least a 20% correction. The signals now point to a 30% downturn.

Oct 27 07:20

“They Just Want The Money!” The IRS Can Now Seize Accounts On Suspicion Alone

The topic of civil asset forfeiture has been high on our agenda recently as federal ‘agents’ discover how to steal Americans’ hard-earned cash with zero repurcussions , and decide unilaterally how much cash a ‘common man’ is allowed to carry; but as The NY Times reports, the escalation to The IRS brings a whole new world of possibilities with regard asset confiscation based on no actual crime being proved…

Webmaster's Commentary: 

Oct 27 07:17

If the Tesla D’s Such a Great Car..

Over the past week, I’ve been assaulted by one “news” story after the next about the latest fruit of government motors. Not GM. Tesla. The Model D. It is very slick! And very quick! It has all-wheel-drive! Not one but two electric motors (which isn’t new, by the way). Orgiastic comparisons with Porsche 911s and other exotic high-performance cars.

No mention, of course, that the government doesn’t pay people to buy 911s. Nor is Porsche a rent-seeking cartel whose existence depends on government support.

I was asked recently during a radio interview (here) why I do not like the Tesla. But that is not the right question, much less a fair question.

I haven’t got any particular like — or dislike — for the Tesla as such. If Elon Musk — or anyone else wants to build a car (powered by whatever, be it electricity or air or unicorn farts) and offer it for sale, they ought to be free to do so. I certainly have no objection to that.

Oct 27 07:14

CVS follows Rite-Aid, shuts off Apple Pay

Last Thursday drug store chain Rite Aid Inc. (RAD) reportedly stopped accepting payments made through the just launched Apple Pay system from Apple (AAPL). On Saturday, CVS Health (CVS) was reported to have followed suit at its CVS pharmacy stores.

The issue appears to be a conflict between Apple Pay and a mobile payment system called CurrentC that is being developed by a retailer-owned mobile technology outfit called Merchant Customer Exchange (MCX). Unlike Apple Pay, CurrentC does not use an NFC chip, but instead generates a QR code that is displayed on the merchant's checkout terminal. Customers who have already linked their bank accounts to the CurrentC system scan the QR code from the terminal and the transaction is completed.

Oct 26 09:34

Cognitive Elite – The Jewish Ghetto, Gaza and Detroit

A Study of Jewish Identity Politics, offers a theory of cognitive ability distribution to explain Zionism, Jewishness, anti-semitism, and identity politics generally. September 29, 2014 video by Joe Friendly

Oct 26 07:41

13 European Banks Don't Have Enough Money To Survive A Financial Crisis

The European Central Bank said on Sunday that 25 eurozone banks showed a capital shortfall, after a year-long review of finances for 130 of the largest banks in the euro area.

Webmaster's Commentary: 

"No problem; we'll just print a whole bunch more out of thin air and loan it to them at interest!" -- Money Junkies

Oct 26 07:26

CHRISTMAS IN OCTOBER – DESPERATE MEASURES

The desperation of retailers grows by the day. I head to Wal-Mart and Giant in Harleysville every Sunday morning at 7:00 am. to do my weekly grocery shopping. I go to Wal-Mart at opening to avoid the freaks we see weekly on the People of Wal-Mart post. The workers at Wal-Mart are only a small step above the customers. They can barely communicate, rarely look you in the eye, and generally act like they are prisoners in an asylum.

Webmaster's Commentary: 

Claire and I went to Macy's yesterday so I could buy a belt (as the ones I get at Sears fall apart after just 2 months) and they already have their Christmas displays fully set up.

Oct 25 10:03

French unemployment hits new record high

After a slight improvement in August, the number of jobless in France once again increased in September, reaching a new record high of 3.43 million unemployed, government figures revealed Friday.

Oct 25 09:55

Pink is the new green

Breast cancer fundraising is a scam

Only 8-10% goes to research!

Oct 25 09:45

7 things the middle class can't afford anymore

Webmaster's Commentary: 

#8. Washington DC

#9 Wall Street!

Oct 25 08:52

George Soros and his Kind are Evil, Mass Murdering Monsters.

You got all kinds of evil running loose in these times. By definition, these are evil times, being as it is the Kali Yuga. The very worst of us profit without reserve and the best of us are hammered into the pavement. There's supposed to be some kind of justice in this but... those of us who are within the constraints of single lifetimes and lacking the panorama view of the realized, are hard pressed to see it. It's there somewhere. Of course, I'm speaking only for those of us that believe in something. For those of us that believe in nothing, except ones own blind, naked ignorance, the appearance of justice is nowhere to be seen. There's one thing we can certainly presume is true and that is that we will find out at some point, even if... in the cases of those who believe nothing, they find nothing. It might be that that is how it works; to each according to what they do or do not believe.

Oct 24 10:31

THE FEDERAL RESERVE PAYS NO TAXES!!!!!!

" Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate. "

Webmaster's Commentary: 

From the horse's, or in this case the pig's own mouth!

Oct 24 10:25

"We won't pay," furious Cameron tells EU over surprise budget

In a vivid display of public fury at European Union technocrats, British Prime Minister David Cameron refused to pay a surprise 2.1-billion-euro bill on Friday as EU leaders ordered an urgent review of how the budget figures were arrived at.

As Eurosceptics at home leapt on news that the EU executive -- branded a "thirsty vampire" -- had demanded a sum worth about one seventh of London's annual payment after a major statistical review of national incomes, Cameron demanded action from fellow leaders at a summit calling the bill "completely unacceptable".

He found some sympathy - a visibly furious Cameron told a news conference that Italian Prime Minister Matteo Renzi had also lambasted "bureaucrats without a heart", who made it harder to persuade citizens of the Union's value.

Webmaster's Commentary: 

If England refuses to pay, the whole pyramid will collapse, triggering an estimated $95 trillion in credit default swaps sold my Wall Street, for which they do not have the cash to pay. So, will Obama now declare war on Great Britain to force them back into the obedience of the private central bankers?

Oct 24 10:14

US jobless claims rise 17K

Oct 24 09:32

Hands off our hookers' and dope dealers' money, U.K. tells E.U.

The European Union has ordered the U.K. to pay an extra €2.1 billion ($2.65% billion) into its central budget by December, once again inflaming the British sense of grievance at the perceived machinations of unelected Eurocrats in Brussels.

...

Cameron himself tweeted that he was “angry at the sudden presentation of a €2 billion bill,” adding: “It’s an appalling way to behave and I won’t be paying it on Dec. 1.”

In one sense, at least, they are right. It is unfair, because one thing is for sure: whatever happens, it won’t be U.K.’s coke dealers and hookers who end up paying that €2.1 billion.

Oct 24 09:10

Banker Suicides Return: DSK's Hedge Fund Partner Jumps From 23rd Floor Apartment

The summer, thankfully, has been largely bereft of the dismal trend of bankers committing suicide, but as Bloomberg reports, Thierry Leyne, a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the IMF, was found dead Thursday after apparently taking his own life by jumping off the 23rd floor of one of the Yoo towers, a prestigious residential complex in Tel Aviv. This is the 16th financial services executive death this year.

Oct 24 09:09

The Housing Recovery Has Been Canceled Due To Data Revisions

Last month, when, with great amusement, we reported that "New Home Sales Explode Higher Thanks To... Record High Average New Home Prices?", we mocked the latest batch of bullshit data released by the US department of truth as follows:

New Home Sales rose a magnificent (seasonally-adjusted annualized rate) 18% in August - the biggest monthly rise since January 1992 albeit with a 16.3 90% confidence interval, meaning the final number may well be +1.7%. At 504k, new home sales are back at May 2008 levels (though obviously massively below the 1.4 million homes sold at the peak in 2005). As a reminder, May's 504K new home sales print was later revised later to 458K. But even more stunning, new home sales in The West rose a mind-numbing 50% in August (and up 84.4% YoY - nearly double).

Oct 24 08:59

People Are Trying to Sell Cinnamon Bark as an Ebola Cure

Marion Nestle reports that several supplement manufacturers are selling vitamins that promise to prevent or treat Ebola. The claims caught the attention of the FDA, which has issued warning letters to three of the manufacturers: Natural Solutions Foundation, Young Living, and DoTERRA International LLC. The agency lists specific claims it finds worrisome; for example, on a Young Living consultant's website, "Ebola Virus can not live in the presence of cinnamon bark."

Webmaster's Commentary: 

Despite the WHO authorizing the use of unproven treatments to deal with the Ebola the reality is that only treatments from the giant pharmaceutical corporations are being allowed. The FDA, still looking at Ebola from the economic point of view, is coming down hard on anyone offering treatments from which the pharmaceutical corporations cannot make the profit.

We know the FDA is blocking use of even mention of nano silver products wherever they can, despite the fact that both Nigeria and Sierra Leone have told the US Government to shove their regulations (possibly in response to the growing awareness that the US Government may have triggered the Ebola outbreak in Africa with a botched vaccine trial) and are treating Ebola patients with nano-silver and reporting positive results.
That being said, it was observed during the 1918 flu pandemic (also triggered by a botched vaccine trial) that workers at a factory that processed cinnamon for bakeries did not come down with the flu. This triggered widespread use of cinnamon, usually mixed with milk, which did in fact lower the fever and reduce symptoms of those already infected with the flu. Most naturally occurring antibiotics are broad spectrum, which means they are effective against a wide variety of infections, whereas modern pharmaceutical antibiotics are designed to be effective against specific infectious agents and are usually useless against others.

So do your own research and make your own choices.

After all, are you willing to bet your life the government, media, and pharmaceutical corporations are telling you the truth?

Oct 24 08:20

Ebola Outbreak Erodes Recent Advances in West Africa

In the breach, Ebola is fast washing away the small gains made over the last decade in war-scarred parts of West Africa, as schools shut down, immunization campaigns are suspended and a food crisis looms as farmers abandon their fields.

Oct 24 07:58

Big nations snub Beijing bank launch after US lobbying

China will officially launch a new $50 billion Asia Infrastructure Investment Bank on Friday as it steps up its challenge to global financial institutions like the World Bank that it feels are dominated by America and its allies.

But only 20 mostly small economies, many of them effectively client states of China, will become founding members of the bank at Friday's ceremony in Beijing after Washington lobbied furiously to stop other countries from signing up.

Webmaster's Commentary: 

Oct 24 07:55

FTDI admits to bricking innocent users' chips in silent update

Hardware hackers and security researchers are furious at chip maker FTDI for issuing a silent update that bricks cloned FTDI FT232 [USB to UART] chips.

The chip is extremely common on a wide variety of devices and there is no way of knowing at this time which devices have cloned chips -- and the tainted supply chain could hit anyone.

FTDI appears to have used a recent Windows update to deliver the driver update to brick all cloned FTDI FT232s.

FTDI's surprise new driver reprograms the USB PID to 0, killing the chips instantly.

The hardware hackers at Hack A Day first reported that a recent driver update deployed over Windows Update is bricking cloned versions of the very common FTDI FT232 [USB to UART] chip.

In response to increasing anger and criticism from security researchers on Twitter, FTDI admitted using the remote kill switch and is adamant that this move is necessary to fight counterfeiting.

Webmaster's Commentary: 

Oh yes, let's punish the end user who may not even know his product has a counterfeit chip by killing his hardware!

Does FTDI not understand that the counterfeiters will go on selling their chips anyway not caring if they eventually fail? Look at the flood of fake 128G SD cards hitting the market. These are actually 8G chips reprogrammed to identify themselves as 128G to the computer. Every time a particular brand is identified as phony, the counterfeiters simply change their company name, change the packaging, and go right on selling their products, not caring that they will not actually work. FTDI's stunt will harm a lot of innocent end users and will not stop the counterfeiters. It won't even slow them down. Someone needs to be fired for this mistake!

Oct 24 07:41

Huge Downward Revision In August New Home Sales

New home sales were flat in September after a big downward revision to August's report.

Oct 24 07:26

BEX ALERT - Former CDC Director to New Yorkers: Don't panic about Ebola

Dr. Richard Besser, former acting CDC director and current ABC correspondent, says there's no need to panic about Ebola arriving in New York City.

Webmaster's Commentary: 

"Just keep going to those shopping malls, keep spending money, keep making your credit card and mortgage payments, keep hating the Muslims who dare to live over our oil, and be sure to get to the poll November 4th and vote for Democrats ... because Republicans brought Ebola here to steal the election!!!" -- Official White Horse Souse

Oct 24 06:37

Russia Rising

Russia is on the way up, America on the way down. Will Washington start a major new war in a desperate attempt to reverse its decline and deal a death blow to its increasingly confident competitor?

Oct 24 05:25

For the Bottom 90% of Americans, Financial Security is Slipping Away

No matter how you look at it, the economic picture for most of America is not good.

From too much debt to not enough savings to shrinking incomes, the vast majority of Americans are confronted with erosion of their financial security.

Oct 24 05:13

50 Percent Of American Workers Make Less Than 28,031 Dollars A Year

The Social Security Administration has just released wage statistics for 2013, and the numbers are startling. Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000. If you worked a full-time job at $10 an hour all year long with two weeks off, you would make $20,000. So the fact that 39 percent of all workers made less than that amount is rather telling.

Oct 23 14:32

Media paying attention to poll showing public's distaste for privatization

Newspaper columnists and radio talk show hosts are paying attention to fresh polling data that shows just how uneasy Canadians are about the concept of privatization.

Last week, the National Union of Public and General Employees (NUPGE) publicized the results of the polling done in September in which:

70 per cent of respondents agreed that: “allowing a few people to profit from services meant for all of us weakens our country's principles and core values of caring and sharing."
82 per cent agreed that “when private companies get contracts to provide government programs, the public loses control over services people depend on.”

Oct 23 14:05

Sears disputes report of 116 store closures, nearly 6,100 layoffs

Cash-strapped Sears Holdings rose 4.5% to $35.95 Thursday following a report that it plans to close 116 Sears and Kmart stores and lay off nearly 6,100 employees, many ahead of the Christmas shopping season.

Oct 23 08:45

Thousands With Degenerative Conditions Told They Could Be ‘Fit To Work In The Future’

More than a third of people with debilitating and incurable conditions and are too sick to work, such as Parkinson’s and multiple sclerosis, are being placed in the ‘Work Related Activity Group (WRAG) of ESA, even though their condition is certain to worsen over time.

Claimants placed within the WRAG receive less money than those in the higher ‘Support Group’, who are not required to prepare for work or attend Job Centre interviews, and face the threat of sanctions if they fail to comply with strict requirements. Some may have their ESA entitlement removed after only a year as the government attempts to “support people into work”.

Oct 23 08:44

UN Issues Statement on Human Rights Violations in Detroit

The conditions are so bad that two United Nations special rapporteurs were invited to Detroit by a number of community groups: the special rapporteur on human right to safe drinking water and sanitation, and the other one on adequate housing and standard of living without discrimination. They heard from residents, council members, the mayor, and congressmen. In their joint statement, they said that the human rights to safe drinking water, sanitation, and adequate housing both derive from the right to an adequate standard of living protected under Article 25 of the Universal Declaration of Human Rights.

Oct 23 08:42

McDonald's Posts Worst Sales Decline In 10 Years

McDonald's global sales at stores open at least 13 months declined 3.7% in August.

That the worst same-store sales decline that the fast-food giant has reported since March 2003, when global sales also fell 3.7%. It also marks the fourth straight month of comparable sales declines in the U.S., which accounts for about 32% of McDonald's revenue.

Oct 23 08:36

New York Fed’s Conference Evokes Thoughts of Violence Against Wall Street

“Since 2008, fines imposed on the nation’s largest banks have far exceeded $100 billion. The pattern of bad behavior did not end with the financial crisis, but continued despite the considerable public sector intervention that was necessary to stabilize the financial system. As a consequence, the financial industry has largely lost the public trust. To illustrate, a 2012 Harris poll found that 42 percent of people responded either ‘somewhat’ or ‘a lot’ to the statement that Wall Street ‘harms the country’; furthermore, 68 percent disagreed with the statement: ‘In general, people on Wall Street are as honest and moral as other people.’ ”

Further cementing that public distrust, the media was barred from attending Monday’s conference at the New York Fed. Press members who nonetheless reported on the event evoked a recurring theme of violent acts to deal with incorrigible actors.

Oct 23 07:59

99 ways to boost pensions in California -- at public cost

Taxpayers could shoulder billions now that CalPERS has approved perks for new public workers.

Oct 23 07:09

Top Regulator Says Bank CEOs Meant Well -- This Evidence Says Otherwise

The head of one of Wall Street's most important regulatory agencies argued recently that Big Bank CEOs never intended to break the law or engage in foreclosure fraud. Instead, Thomas Curry of the Office of Comptroller of the Currency tells us they weren't cautious enough.

Internal documents obtained from a bank-backed venture several years ago seem to directly contradict this claim. These documents, which include training materials, PowerPoint presentations, and videos, suggest that the industry made a conscious attempt to bypass local jurisdictions and automate processes -- in what can best be described as a fraud-friendly way.

Oct 23 07:02

Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves - the very institutions that unleashed QE - are now admitting that the record wealth disparity in the world - surpassing that of the Great Depression and even pre-French revolution France - is caused by "monetary policy", i.e., QE.

Oct 23 06:56

Cashing out: ‘Electronic payments taking over, banks to abandon paper money soon’

More and more countries are using electronic payments instead of physical as they’re much cheaper, easily traceable and help to combat terrorism financing, money laundering, tax evasion and the black market, economist Konstantin Gurdgiev told RT.

Denmark’s Central Bank Nationalbanken plans to stop printing banknotes and minting coins by the end of 2016. It claims that people increasingly prefer to use credit cards and electronic money in transactions rather than cash.

Oct 23 06:55

Fed Up With DOJ Misconduct, Fraud and False Evidence – Federal Judge Takes Nuclear Option

In perhaps the most stunning documentation yet of abuses by Eric Holder’s Justice Department, two former Assistant United States Attorneys spoke to defense attorneys and revealed appalling deceit and corruption of justice. This latest litigation time bomb has exploded from multi-million dollar litigation originally brought by the Department of Justice against Sierra Pacific based on allegations that the lumber company and related defendants were responsible for a wildfire that destroyed 65,000 acres in California.

In what was dubbed the “Moonlight Fire” case, the tables are now turned. The defendants have discovered new evidence and filed a stunning motion. The new evidence and disclosures are being taken seriously by the Chief Judge of the Eastern District of California—as they should be. In a shocking action, Judge Morrison C. England Jr. ordered the recusal of every federal judge in the Eastern District of California.

Oct 22 12:55

California Orders Churches To Fund Abortions—Or Else

A regulatory change in California has placed abortion in the category of ‘basic health services’ all insurance plans must cover. Even those churches buy.

Oct 22 12:48

Denmark's central bank to stop producing money

With more and more people paying with credit cards and their smartphones, Denmark’s central bank Nationalbanken says it no longer pays to print banknotes or mint coins.

Webmaster's Commentary: 

And how do they pay when the cloud goes down (again)?

Oct 22 12:19

Santelli & Schiff: “A Messy Exit Is A Given… Ending QE Will Plunge US Into Severe Recession”

“Markets are slowly coming to grips with reality is not going to be as easy as everybody thought,” Peter Schiff tells CNBC’s Rick Santelli, noting the pick up in volatility across asset classes recently. What The Fed clearly does not understand, Schiff blasts, is that “you cannot end quantitative easing without plunging the US into a severe recession.” Because of the Fed’s extreme monetary policy and the mal-investment that flows from it, Schiff says, “The US economy is more screwed up now than it’s ever been in history.” Most prophetically, we suspect, Santelli agrees that “a messy exit is a given,” and Schiff believes they know that and that is why QE4 is coming simply “because it hasn’t worked and they can’t admit it’s been a dismal failure.”

Oct 22 11:03

Census Report: Half of Americans Poor or Near Poor

Forty-seven percent of Americans have incomes under twice the official poverty rate, making half of the country either poor or near-poor, according to figures released last week by the Census Bureau.

These figures are based on the Census Bureau’s Supplemental Poverty Measure (SPM), which takes into account government transfers and the regional cost-of-living in calculating the poverty rate. According to that calculation, there were 48.7 million people in poverty in the United States, three million higher than the official census figures released last month. The US poverty rate, according to the SPM, was 15.5 percent.

Webmaster's Commentary: 

These numbers are morally, and socially, unacceptable.

Both parties talk a good game about getting the decent jobs back, which used to be the underpinning of a solid middle class.

But the destruction of the Middle Class, by the consistent offshoring/outsourcing of jobs, is no accident.

The major corporations fund both parties to look to the other way while these practices continue apace.

Oct 22 08:48

India Gold Demand Surges 450% and Bank of Russia Demand At 15 Year High

Webmaster's Commentary: 

So how is it that the price of gold remains low?

Oct 22 08:25

Saying Good-Bye to Fear of the 1918 Flu

We have had a pandemic run-through already. By now the country's knows the H1N1 pandemic was a dud. Many even know it was fake.

The whole thing was so bizarre that the Eu Parliament investigated as did the British Medical journal, condemning ties between the pharmaceutical industry and flu "experts."

A man at the WHO named Osterhaus has been the main person at the WHO saying that pandemics - SARS, Ebola, Avian flu, swine flu - were going to kill millions.

"Not only is Osterhaus the connecting person in an international network that has been described as the Pharma Mafia, he is THE key advisor to WHO on influenza and is intimately positioned to personally profit from the billions of euros in vaccines ..."

Oct 22 08:08

Dirty money: 19 UK firms alleged ‘complicit’ in $20bn laundering scam

Some 19 British firms are at the center of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) of ill-gotten gains appear legitimate.

Oct 22 07:35

Fear of Ebola Now Creating Weakness in U.S. Stocks?

The fear of Ebola has caused pressure towards the U.S. stock markets, particularly in the travel sector and aviation stocks. The concern is real, and if it is allowed to grow in the United States, Asia, or Europe, we could see a significant decline in travel demand that could impact the next few quarters, as my stock analysis would suggest.

Webmaster's Commentary: 

The stock market is already in trouble. Indeed it is on life support right now via QE. Ebola just makes a handy scapegoat when it crashes.

Oct 22 07:19

Chicago Drivers Have Wised Up to Speed Cameras, Their Good Behavior is Bankrupting the City

Citizens in Chicago are costing the city tens of millions by obeying the law, giving credence to the notion that crime really does pay, and is not only profitable but necessary for the state to survive.

Oct 21 15:20

Moldova commits economic suicide for Brussels

During the last CIS summit in Minsk, an unpleasant incident occurred. The journalists, who could hardly hear what the presidents of Moldova and Russia were talking about, assumed that, at some point, the presidents were going to have a verbal fight with each other. The presidents were talking about the Association of Moldova with the EU and the introduction of Russia's sanctions in response.

The unpleasant incident with the verbal fight, which Moldovan President Timofti started at the summit in Minsk, was not incidental.

Oct 21 14:20

£20 Billion British Money Laundering Scam Goes Through Eastern Europe, Ends in HSBC, RBS, UBS and Citibank

This story should raise some important questions about organised crime’s influence on our judicial and economic systems – in times of crisis.

A recent money laundering investigation by a British Newspaper, The Independent (see story below), reveals a complex accounting and legal shell game of British-based front companies, laundering their illicit proceeds through phony lawsuits, followed by massive wire transfers to Latvian and other banks. Money transfers are effectively rubber stamped by corrupt Moldovan judges.

Are these white collar crimes exclusive eastern European gangsters, or do well-known British financial brands also do the same?

Oct 21 13:19

Floyd Brown Interview: The Government is “Robbing” Americans of Our Wealth

Political commentator and freedom advocate Floyd Brown knows what the U.S. government is up to, and he’s calling Washington on it. In this one-on-one interview, find out why the president of the Western Center for Journalism believes Americans are systematically robbed of their savings through a deliberate devaluation of the dollar. In the face of a dollar that will continue to erode in value, Brown explains how gold and silver – the “historic forms of money” – can help to protect our savings. Plus, discover why he believes that Americans are doing a “grave injustice” if they’re depending on the government in retirement.

Oct 21 11:34

The Magic Number Is Revealed: It Costs Central Banks $200 Billion Per Quarter To Avoid A Market Crash

We have all seen it countless times before: visual confirmation that without the Fed's (and all other central banks') liquidity pump, the S&P would be about 70% lower than were it is now.

Oct 21 11:34

McDonalds Sales Plunge In Worst Month Since 2003 Following Dollar Meal "Sticker Shock"

But while collapsing MCD sales are a combination of both the insolvent US consumer, who can no longer afford to buy either MCD or Coke (as we commented earlier) especially after purchasing the latest and greatest iThing on credit, as well as shifting tastes and eating the "cool food du jour", things are only going to get worse from here.

Because in a world that is allegedly flooded with deflation, the one place where everyone considered safe for "dollar meals", just got more expensive.

Webmaster's Commentary: 

Plus the food is so full of fillers you can practically taste the sawdust!

Oct 21 10:08

19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

Barack Obama and the Federal Reserve are lying to you. The "economic recovery" that we all keep hearing about is mostly just a mirage. The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point. In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade. The response to that article was very strong. Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media. Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy.

Webmaster's Commentary: 

The biggest reality check, for Mike and me, is just going grocery shopping.

Yesterday, I was looking at the relatively small amount of groceries we got, for which we paid a Wiemar-republic sized bill, and the correlation between what we got, and what we paid for it was completely out of whack.

I do not know how people with families are making it, except to get the cheapest foods possible, most probably poisoned with GMO.

And those people who, as their government and banks told them to, have saved all their lives, to see their savings eaten away by inflation?!? They are probably never, ever going to believe anything that any government agency happens to tell them, even, if by wild chance, it is true.

Oct 21 10:03

Greece Is In Full-Blown Stock Market Collapse

As if the world didn't have enough to be worried about (ISIS, Ebola, slowing China, Ukraine, slowing Germany, Fed tightening, etc.) now look what's back: Greece. And in a big way.

The stock market is down over 9% on Wednesday, which is about as big as crashes come.

Oct 21 09:24

WHY ISRAELIS SHOULD JOIN THE BOYCOTT FROM WITHIN

Procter and Gamble (P&G) reduced the contents of a bottle of Head and Shoulders shampoo by 20-33%. The company, which used to marketing the brand in a 750 ml bottle, halted its marketing of this bottle, and began marketing two different bottles: 500 ml and 600 ml. The new bottles are very similar to the old ones, giving the misleading impression that the price was reduced.

Oct 21 08:46

Detroit water shut-offs bring U.N. scrutiny

This United Nations Human Rights team has spent the last three days trying to figure out why the shutoffs are necessary.

Leilani Farha and Catarina de Albuquerque led the mission.

"People are living without dignity it's a human rights violation. the city should restore water to those unable to pay," said a representative of the U.N. team.

The mayor's office admits that for years the water department did a poor job collecting money it was owed. Then, when the city filed for bankruptcy last summer under the weight of its own creditors, the department decided to clamp down.

Oct 21 08:45

Citi hikes fees on checking customers

Beginning in January, monthly fees on Citi rewards checking accounts will increase from $20 to $25, and fees on basic accounts will rise from $10 to $12.

Oct 21 08:28

Golden Jackass Rebuttals to Jim Rickards rant

Some people in our community have wondered exactly whose side Jim Rickards is on. Many have recently argued he is nothing more than a mouthpiece for the globalists. Perhaps we should question anyone who is purporting that an SDR currency could be the solution. That is the solution for the globalist thieves. Meet the new boss, same as the old boss. Mr. Rickards was interviewed by Greg Hunter recently. The below are comments from our friend Jim Willie, whom we believe to be one of the best sources of information that doesn’t work for the parasitic cartel of banking thieves.

Oct 21 08:15

Italian police uncover €1.7bn corporate fraud

Italian police have uncovered a fraud which they say has cost Italian taxpayers €1.7bn (£1.3bn; $2.2bn).

Two businessmen are accused of setting up the scheme, which used false invoices to bill the state for non-existent security, cleaning and other services.

The fraud, which dates back to 2001, involved 62 people, the police say.

Oct 21 08:05

China opens record breaking 4,000 ft long Bridge?

Interesting pictures and a scary little tale at the end

Oct 21 08:01

Will Our Private Savings Be Sacrificed To Pay Down The Public Debt?

Recently, an article by Daniel Amerman caught our attention. Titled Is There A “Back Door” Method For The Government To Pay Down The Federal Debt Using Private Savings?, it details the process known as financial repression, where sovereign debts are slowly paid off by syphoning private savings from an unaware populace.

Webmaster's Commentary: 

The last official act of any government is to loot the nation.

Oct 21 07:51

McDonald's Franchisees Say The Company Is Bankrupting Them

McDonald's franchisees are furious that the company's aggressive promotions and costly restaurant upgrades are squeezing their profits, according to a new survey.

"Growth for McDonald's is over," one franchisee wrote in response to the survey by the financial services firm Janney Capital Markets.

"I am just hoping to be flat," another franchisee said. "[The] customer has lost faith in the brand."

Oct 21 07:19

Nationalize The Federal Reserve

It’s clear that the gold-hoarding, ISIS-funding, Ebola-creating international bankers are bent on destroying America. Their current flurry of wars and interventions is a desperate attempt to both stave off a deflationary depression and to shut down the giant spotlight increasingly being shown upon them.

At their core they are Nazis, so the black Obama provides the perfect fall guy. There is but one rabbit which Obama can pull out of the hat which will prevent both his and our demise.

He must nationalize the Federal Reserve. And he must do it now.

Webmaster's Commentary: 

Obama won't do it. Presidents who stand up to the bankers get shot at, and Obama lacks courage.

Oct 21 07:18

Counterfeit Euro bank notes in circulation in Gothenburg, Sweden

Police in Gothenburg have been about twenty cases involving counterfeit notes in shops and exchange offices in September. Now go out and Gothenburg Police warn of fraud.

Oct 21 07:10

Swedish banks question customers to comply with US tax rule

All Swedish bank customers will soon be required to prove that they do not owe taxes in the United States according to a new agreement between the countries, and some critics claim it may break EU rules.

Oct 21 07:06

HHS-Funded Study: Obamacare Will Suffer ‘Death Spiral’ If Subsidies Fail

The Obama administration has funded a new study by top consulting firm RAND Health that startlingly finds that if taxpayer subsidies are eliminated, Obamacare exchanges will fall into a “death spiral.”

The study comes in the wake of a number of lawsuits which are challenging the Obama administration’s implementation of Obamacare subsidies. Three lawsuits have made it to U.S. Circuit Courts, just one step from the Supreme Court, arguing that the text of the Affordable Care Act allows premium subsidies for state-run exchanges only. (RELATED: Second Court Strikes Down Obamacare Subsidies In Federal Exchanges)

Webmaster's Commentary: 

And that is on top of the 14% jump in premiums for next year!

Click for larger image

Oct 20 13:19

Nearly half of cardholders likely to avoid stores hit by data breaches

As data breaches exposing consumer credit card, debit card and other personal information become more common, nearly half of cardholding shoppers say they're reluctant this holiday season to return to stores that have been hacked, according to a new survey by CreditCards.com.

Forty-five percent of respondents with credit or debit cards said they would definitely or probably avoid one of their regular stores over the holidays if that retailer had experienced a data breach. Sixteen percent said they definitely would not return to a retailer if the store had been hacked and 29 percent said they probably would not shop at such stores. Just one in eight said they are more likely to shop with credit cards this season.

Oct 20 12:13

Up to 34 MILLION blank 'green cards' and work permits to be ordered ahead of Obama illegal immigrant 'amnesty'

U.S. Citizenship and Immigration Services plans to seek a vendor to produce as many as 34 million blank work permits and 'green cards' – the paperwork that authorizes illegal immigrants to live and work in the United States – as the White House prepares to issue an executive order after the Nov. 4 midterm elections.

Oct 20 12:11

One-third of working Americans support two-thirds of the population: The hidden figures of those not in the labor force and transfer payments.

The unemployment rate dropping dramatically has largely been driven by this category expanding and labor force participation is at generational lows. You also have spending growing in the form of military, Medicare, and Social Security that are now eating up a larger portion of the budget. Deficit spending continues to occur in the face of a booming economy. Why? The math shows that one-third of private sector workers are supporting two-thirds of the population.

Oct 20 11:26

We’ll Slash Benefits For 100,000 Families And Young People To Fund Apprenticeships, Says Cameron

A future Tory Government would slash benefits for around 100,000 struggling families and young people to fund more low-paid apprenticeships, Prime Minister David Cameron will pledge on Monday.

Webmaster's Commentary: 

Bringing back Serfdom!

Oct 20 08:04

These Countries Do the Exact Opposite of What America Does When It Comes to Higher Education

Germany made international news last week when they decided to eliminate college tuition entirely (before this, it was less than €1,000-- the equivalent to $1,300-- per year). Meanwhile in the United States, the average per-year tuition cost was $8,655 for an in-state 4-year public college, $21,706 for an out-of-state 4 year public college, and $29,056 for a private 4-year college. The average American college student will graduate with more than $27,000 in debt, and college costs in the U.S. have gone up more than 1100% since 1978 with little sign of leveling off.

In light of Germany's actions, we decided to highlight 5 countries whose approaches towards financing higher education put ours to shame.

Webmaster's Commentary: 

In those other countries, education is just that, education. In the US, education has become just another scam to ensnare the people into banker debt.

Oct 20 08:01

No entry! The 'haves' of a wealthy Michigan suburb who built FENCES across the streets to keep out Detroit 'have-nots'

On one side, there are dilapidated houses, gardens overflowing with weeds and a high crime rate.

On the other, there are streets filled with spacious homes, well-manicured lawns and yoga studios.

This is one of numerous fences that have been erected by the wealthy 'haves' of the Michigan suburb of Grosse Pointe Park to 'prevent 'have-nots' from Detroit from driving into the city.

The brick barrier, reading 'Road Ends', represents a significant divide between the two cities, which despite their proximity, differ greatly in terms of average salary, crime rates and general desirability.

Oct 20 07:49

Russian rouble weakens on debt downgrade

The Russian rouble has weakened further against the dollar following a downgrade of the country's debt rating by the ratings agency Moody's.

Webmaster's Commentary: 

Moody's being one of the ratings agencies that assured us those mortage-backed securities were a sweet deal back in 2008!

Oct 20 07:02

Exclusive: Obama Administration Quietly Prepares 'Surge' Of Millions Of New Immigrant IDs

Despite no official action from the president ahead of the election, the Obama administration has quietly begun preparing to issue millions of work authorization permits, suggesting the implementation of a large-scale executive amnesty may have already begun.

Oct 19 08:30

U.S. Debt Held by Foreigners Hits Record $6.07 Trillion

This is not going to end well. Foreign holdings of U.S. Treasury securities hit a record high $6.07 trillion in August. Japan added more than $11 billion to its stockpile,while China and Belgium, a proxy trader for Beijing, added a net $12 billion to its holdings. If foreign countries stop buying US debt, never mind selling any off, it is going to be a disaster for US bond markets.

Oct 19 07:06

Obamacare ‘bronze’ plan premiums expected to jump 14% in 2015

Obamacare “bronze” plan owners may be in for a shock next year. Investors predict the cheapest healthcare offering under the Affordable Care Act could jump nearly 14 percent in price.

In an analysis of expected rates for the biggest 15 cities in the nation, including Washington, D.C., Investor’s Business Daily reported Friday that the cost for the plan could increase by an average of 13.9 percent for 40-year-old non-smokers earning 225 percent of the poverty level.

Webmaster's Commentary: 

And now you know why Obama isn't officially announcing the 2015 Obamacare prices until after the election!

Oct 19 06:54

Ban Ki-Moon: 2.4 Billion People Survive on Less Than $2 a Day

UN Secretary-General Ban Ki-Moon said on the International Day for the Eradication of Poverty that the number of people living on less than $2 a day is estimated at 2.4 Billion after the 2008 financial crisis.

Webmaster's Commentary: 

"Well, if those other nations can do that, why can't we?" -- Official White Horse Souse

Oct 18 09:29

Kickstarter Freezes Anonabox Privacy Router Project for Misleading Funders

On Friday afternoon Kickstarter suspended the crowdfunding campaign for Anonabox, an initiative to sell a tiny, $45 router that would run all a user’s online traffic over the anonymity network Tor. The idea tapped into an explosive demand for simple privacy technology, and earned more than 10 times its modest goal in hours. But as funders shoveled more than half a million dollars into the project, they also began to pick apart Anonabox’s claims of creating custom hardware, as well as the promised security of its software. Soon, many were calling for the project to be cancelled, and asked others to report its shortfalls to Kickstarter staff, who now say they’ll cancel all investors’ pledges.1

Oct 18 08:34

It's Starting: Russians and Chinese Are Ditching the Dollar and Europeans Are Using Renminbi in Their Reserves

From the throne of the world’s reserve currency, the Federal Reserve, with the power to print the US dollar, feels dangerously omnipotent.

They can get away with just about anything. For now.

The central bankers get to print dollars and spend them at current prices, before the stuff hits the wider market and diminishes its overall value.

And for the time being they don’t really face any consequences. The whole world just absorbs it. Other countries really have no other choice.

But they’re getting tired of putting up with this abuse, and the unrest is growing. New alliances are being made, this time to dethrone the dollar.

Just this week yet another currency swap agreement was made between the Chinese and Russian central banks. This time for 150 billion renminbi.

Webmaster's Commentary: 

It is not a question of IF the US dollar is going to fall and fail; it is a question of when.

And to attempt to prevent that, look for this country to enter into wars it most likely cannot possibly win, with an horrific cost in blood and money.

Oct 18 08:28

The Pauperization of Workers in the UK and America

Here is what happened: workers benefited from rising real incomes during the three quarters of deflation in 2009 – which probably was responsible for firing up moribund consumer spending. But it didn’t last long. In 2011 and 2012, a burst of inflation took it all away again.

It’s only during periods of low inflation or actual deflation that modern American workers get real wage increases. Turns out, the mix of slight inflation and slight deflation is good for workers!

But there is another huge group of people that has been taken to the cleaners: savers. These conservative investors don’t want to lose, in rigged financial markets, 30% or 40% or 50% of what little they have during the last 10 or 20 or 30 years of their lives. Unlike young folks, they have no way of ever re-earning their hard-earned money a second time, so to speak.

Webmaster's Commentary: 

Absoflippinglutely unbelievable!!

Oct 18 08:27

It's Starting: Russians and Chinese Are Ditching the Dollar and Europeans Are Using Renminbi in Their Reserves

At present, US dollar accounts for roughly 61% of the world's foreign exchange reserves.

It's still a safe bet for most, not because the currency is actually strong, but because so many others are already so reliant on it.

Between those with reserves in and pegs to the US dollar, many countries have given their allegiance, and now have a vested interest in the health of the currency.

Due to this common interest, a sort of unofficial, involuntary alliance has been formed between them all.

Together, they’re all playing along, pretending that everything is fine. If the dollar collapses, they're all screwed, so they've got to get each other’s backs.

From the throne of the world’s reserve currency, the Federal Reserve, with the power to print the US dollar, feels dangerously omnipotent.

They can get away with just about anything. For now.

Oct 18 08:26

Shanghai Cooperation Organisation Goes Beyond Security to Include Trade

China recently reaffirmed that it backs India and Pakistan becoming members of the Shanghai Cooperation Organisation (SCO). At the 14th meeting of the Council of Heads of States of SCO on 12 September, Chinese President Xi Jinping called for full membership for SCO observers, including India and Pakistan.

Oct 18 08:05

More Than a Third of Oakland's Fast Food Workers Can't Afford Food

A new study of Oakland workers shows exactly how low the wages are in the fast food industry. Restaurant Opportunites Center United conducted a survey of 500 restaurant workers from August 2013 to July 2014 and found that 36 percent did not make enough money to buy food for themselves and their families, while more than half said they were eating free meals at their jobs only because they couldn't afford to pay for their own food.

Oct 18 08:00

Microsoft to cut 18K jobs worldwide

The US software giant Microsoft has announced plans to slash 18,000 jobs from its global workforce in 2015, the largest cuts in the company’s 39-year history.

Oct 18 07:59

Putin urges Europe to help Kiev cover gas debts

The Russian President Vladimir Putin has called on Europe to provide Ukraine with a loan so that Kiev can cover its gas debts.

Oct 18 07:24

Judicial Watch: Obama to Admit Non-Citizens for Ebola Treatment

The government watchdog group Judicial Watch alleged Friday the Obama administration is formulating plans to admit Ebola-infected non-U.S. citizens into the United States for treatment.

The group, which cited one unidentified source, said the administration would aim to bring Ebola patients into the United States for treatment within the first days of diagnosis, and that it’s not clear who’d pay either for the transportation or treatment.

Oct 18 07:23

With Ebola scare, travel industry hits rough patch

With a series of embarrassing accidents in its wake, the $37.1-billion cruise industry was looking forward to a strong booking season this winter.

Instead, cruise operators are facing the same crisis that has shaken the airline industry: Ebola.

Oct 18 07:00

Obama’s credit card denied at restaurant on New York City trip

President Obama came perilously close to having to wash some dishes on his recent trip to New York.

Mr. Obama revealed Friday that his credit card was rejected when he went to pay for his meal at a New York restaurant during the U.N. General Assembly gathering last month.

“Apparently they thought there was some fraud going on,” Mr. Obama joked at a meeting Friday with employees of the Consumer Financial Protection Board, adding that “even I am affected” by the difficulties of dealing with the American financial system. The remarks were picked up by the C-SPAN feed of the event.

Oct 17 07:44

Over 48 million Americans live in poverty

Over 48 million Americans live in poverty, according to a special report by the Census Bureau Thursday. It provides an alternative look at the worst off people in the nation than the official numbers that come out in September.

Government programs such as food stamps do help some people, especially children, but even so 16% of American children are living in poverty, according to the supplemental report.

Oct 17 07:36

The Ebola Effect Arrives: Half Of Americans Will Avoid International Air Travel Out Of Ebola Fears

Remember when Obama said "Putin was isolated", despite the Russian having the explicit support of the BRIC nations, and thus at least half of the world's population? Well, as irony would always have it with this particular US president, the tables have promptly turned, and paradoxically where ISIS failed to "terrorize" Americans into a state of paralyzed daze, the West African virus has succeeded in isolating none other than America, and as a brand new Reuters poll reveals, nearly half of Americans are so concerned about the Ebola outbreak that they are avoiding international air travel!

In other words, global trade, commerce and simply transit, already declining thanks to the global depression rematerializing now that the Fed's latest placebo round has worn off, are about to slam into a brick wall.

Oct 17 07:05

WikiLeaks: US pushes to extend drug monopolies in secret proposed trade deal

Excerpts from a proposed international trade agreement leaked to the web this week suggest that the United States is pushing for changes that would make it more difficult to get life-saving drugs overseas.

Oct 17 06:31

HUGE FEMA PANDEMIC EXERCISE IN USA IN NOVEMBER

FEMA IS PLANNING TWO HUGE PANDEMIC EXERCISES IN CONJUNCTION WITH THE FINANCIAL SECTOR IN NOVEMBER

Webmaster's Commentary: 

"PROTECT THE MONEY! FUCK THE PEOPLE! PROTECT THE MONEY!" -- Official White Horse Souse

Oct 16 14:31

Leaked TPP Chapter Exposes Sweet Deals for Big Pharma and US Bully Tactics

WikiLeaks on Thursday released a second updated version of the Trans-Pacific Partnership (TPP) Intellectual Property Rights chapter, charging that it will hinder affordable access to medicines globally, increase online surveillance, and impinge on civil liberties while benefiting Big Pharma and other corporate interests.

"Our first impression in reading the document is the extent to which the United States has sought hundreds of changes in intellectual property norms, some small and subtle, others blunt and aggressive, nearly of all of which favor big corporate right holders, and undermine the public’s freedom to use knowledge," declared James Love of Knowledge Ecology International.

The TPP is the world's largest economic trade agreement that will, if it goes into effect, encompass more than 40 percent of the world's GDP. The IP chapter covers topics from pharmaceuticals, patent registrations, and copyright issues to digital rights.

Oct 16 12:30

Did The Saudis Just Get A Tap On The Shoulder?

The US-Saudi "secret" plan that was supposed to crush Putin quickly turned sour when as we reported several days ago, one after another America's own shale plays, which recently entered a very sharp bear market, started appearing on various death watches (case in point today's MHR Second Lien refi which repriced from L+500 to L+750 in minutes).

As a result, one wonders: did Obama realize that Russian "costs" which as everyone knows by now include a Eurpoean triple-dip recession, could also very soon include an insolvent US shale industry, and thus may be just a little too much, and, one further wonders, if he is the one who just tapped Saudi Arabia on the shoulder?

Oct 16 10:47

'Origami' condoms, Michelle Obama gardening games and poop-throwing chimps: NIH spent millions on wacky projects but now complains cuts killed off Ebola vaccine research

The $30 billion U.S. National Institutes of Health blamed tightening federal budgets on Monday for its inability to produce an Ebola vaccine, but a review of its grant-making history in the last 10 years has turned up highly unusual research that redirected precious funds away from more conventional public health projects.

The projects included $2.4 million to develop 'origami' condoms designed with Japanese folding paper in mind, and $939,000 to find out that male fruit flies prefer to romance younger females because the girl-flies' hormone levels drop over time.

Other winners of NIH grants consumed $325,000 to learn that marriages are happier when wives calm down more quickly during arguments with their husbands, and $257,000 to make an online game as a companion to first lady Michelle Obama's White House garden.

The agency also spent $117,000 in taxpayers' grant dollars to discover that most chimpanzees are right-handed.

Oct 16 09:28

U.S. Response to Ebola: We Don’t Have the “Strongest” Medical System In the World … Only the Most EXPENSIVE

U.S. medical officials have repeatedly said – almost like a mantra – that Ebola can’t possibly effect our country because we have the “strongest” and “best” medical system in the world.

Were they speaking as scientists … or salesman? After all, the U.S. has the most expensive medical system in the world. And – like all good salesmen – they have to talk up and justify the super-pricey product.

In fact, independent studies rank the strength and quality of our system as low.

Oct 16 08:58

Student’s photo of skimpy Michelle O school lunch sparks outrage

Lunch meat, a couple of crackers, a slice of cheese and two pieces of cauliflower qualified as lunch in Chickasha Public Schools Monday.

Chickasha lunchStudent Kaytlin Shelton took a photo of the skimpy lunch and showed it to her parents.

“It makes me want to take that and take it to the Superintendent and tell him to eat it for lunch,” the girl tells Fox 25.

“I can go pay a dollar for a Lunchable and get more food in it,” her father, Vince Holton, says.

Webmaster's Commentary: 

Aaaaaaaaaaand ... what is Michelle having for lunch, I wonder?

Oct 16 08:07

The 4 Most Absurdly Expensive Versions of Filthy Products

If I'm going to buy a thing and its intended purpose is to get dirty, I'm not going to go for the most expensive version of that thing. That's a basic understanding of the world most of us share. "Most" being the key word.

Some people who are mega-rich apparently don't have that understanding. I know this because there are products that are normally inexpensive (for a reason) that come in decadent versions crafted specifically for the wealthiest people in the world. I'm talking everyday, basic things we all use and don't think twice about, yet some rich people apparently prefer to have gold-plated and diamond-studded and slapped with price tags so outlandish they defy all logic and taste.

Webmaster's Commentary: 

Life-styles of the money-junkies!

Oct 16 06:06

Hollywood ousts homeless shelter with $4.8 million buyout

The city of Hollywood is paying $4.8 million to send a homeless shelter packing — and its founder too.

Under the deal, criticized by some as too generous, Sean Cononie, pied piper to hundreds of homeless, won't be able to return or set up a new shelter in Hollywood until the ripe age of 80.

Commissioners on Wednesday gave unanimous approval to the plan, which they feel will cleanse the city of unwanted vagabonds.

Oct 15 13:31

Monsanto Losing Hundreds of Millions, Investors Pulling Out: End of GMO Giant to Come

Ladies and gentleman, the stage has been set since around early 2011 for Monsanto’s corruption to truly be exposed. An increasingly large number of intellectually powerful individuals have decided that they simply will not stand for the genetic manipulation of the food supply.

As a newsletter subscriber to NaturalSociety, you are one of these highly instrumental figures that has helped reveal the numerous ways in which mega corporations like Monsanto have thrown our health to the side and placed profits in front of people.

Oct 15 12:51

Chrysler recalls 184,215 Dodge and Jeep SUVs

Chrysler Group is recalling 184,215 crossover SUVs because the component that controls that air bags may be faulty.

Oct 15 12:51

Toyota recalls another 1.75 million cars

The largest of the three recalls, which mostly covers vehicles sold in Japan, is needed to fix a problem in the brake systems of select Crown Majesta, Noah and Voxy models, the company said in an email. In some cases, brake performance could begin to gradually degrade if the problem is not fixed.

Oct 15 12:11

The Cycle of Poverty Spins Faster

Things have changed. For the worse. A single person earning a low wage cannot support him or herself, let alone a couple of kids. You’d never know it based on government statistics that now quote income averages based on family income, not worker income, as was once the case. If a family earns $40,000 a year because both parents are working at minimum wage in one or more jobs each and their teen has a paper route, that does not accurately reflect the state of the American worker.

As I write this, Walmart has announced that it will no longer provide health insurance to employees who work fewer than thirty hours, joining Target, Home Depot, Walgreens and Trader Joe’s in cutting hours and offering more part-time work in order to avoid the January 15 mandate.

Oct 15 11:31

Airline Stocks Tumbling After News Hospital Worker With Ebola Flew On Commercial Flight

News that a health worker diagnosed with Ebola flew on a commercial flight the night before showing symptoms raised fears on Wall Street that the scare over the virus could reduce air travel.

Shares of the biggest U.S. airlines tumbled between 4 percent and 6 percent in afternoon trading.