ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Mar 09 14:19

The Dow Is a Sham

Wim Grommen has been claiming for years that the Dow Jones Industrial Average is a sham, because it is manipulated to push up the market.

Investment manager and writer Barry Ritholtz notes today:

The venerable Dow … remains deeply flawed in its methodology, driven rather arbitrarily by the price weightings of its constituents rather than their market values.

Mar 09 13:45

Republicans Poised to Rubber-Stamp Another Debt Ceiling Increase

On Sunday, Senate Majority Leader Mitch McConnell (R-Ky.) reiterated something that Republican leadership has been emphasizing since re-taking control of both houses of Congress:

"I made it very clear after the November election that we're certainly not going to shut down the government or default on the national debt. We'll figure some way to handle that. And hopefully, it might carry some other important legislation that we can agree on in connection with it," McConnell said on CBS' "Face the Nation."

Webmaster's Commentary: 

The question Americans should be asking is not whether to raise the debt ceiling, but rather why the Federal Government, which is authorized by the Constitution to create and issue interest-free money, instead borrows that money at interest from a privately owned central bank, thereby plunging future generations into debt slavery to that bank? THAT is the real question Americans should be asking!

Mar 09 12:42

US Acts as Terrorist State Waging Finance War Against Russia – Magazine

The United States is waging a finance war against Moscow in a bid to weaken Russia to a point of economic and social destruction, the Austrian Contra magazine said, adding that this campaign goes against international law, WTO rules and bilateral agreements.

Mar 09 11:56

Did HSBC Just Close All 7 of Its Gold Vaults?

Zero Hedge reported: “HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: “We ask our customers about the purpose of large cash withdrawals when they are unusual… the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime.” As one customer responded: “you shouldn’t have to explain to your bank why you want that money. It’s not theirs, it’s yours.”

Now there’s more trouble. Now we’re told that HSBC is “closing” its gold vaults.

Question: Was there anything in them to begin with?

Mar 09 10:50

Do Corporations Really Need More Rights? Why Fast-Track for the TPP Is a Bad Idea

President Obama is currently pressing members of Congress to pass Fast Track authority for a trade and investment agreement called the Trans Pacific Partnership (TPP). If Fast Track passes, it means that Congress must approve or deny the TPP with minimal debate and no amendments. Astonishingly, our lawmakers have not seen the agreement they are being asked to expedite.

Mar 09 10:35

Dr Paul Craig Roberts Unemployed America

Shadow of Truth Ep.9

Mar 09 10:32

European Central Bank Launches Trillion-Euro Stimulus

The European Central Bank has hit the launch button on its 1.1 trillion euro ($1.2 trillion) stimulus program by starting to buy government bonds.

The chief monetary authority for the 19 countries that use the euro confirmed Monday it had begun the purchases, which aim to make credit cheaper, boost growth and raise inflation. ECB President Mario Draghi had announced the start date last week, sending stocks higher and the euro lower.

The bonds are bought from banks and other financial institutions using newly printed money.

One key effect of the program is expected to be a weaker euro, which would help eurozone exporters. More euros in circulation help drive down the currency's value, as expressed by its exchange rate. Low or negative interest rates encourage investors to invest in a currency where rates are higher, such as the U.S.

Webmaster's Commentary: 

This is Europe's version ofthe US's QE (Quantitative Easing).

A weaker Euro may be great for large corporations, but lousy for the individuals who have to use it in trade, because it will take far more euros to purchase staples than it did before.

Mar 09 10:24

NATO & the IMF Just Suffered a Disastrous Military Defeat

There’s no denying it: the IMF is the world’s foremost predatory lender. Every “loan” is a complete surrender of sovereignty in disguise, as attached to all that new-found digital credit, are bankster talons that lock into a nation’s soil, its resources, its inhabitants, its dignity, even its very national spirit.

Every country they enter is seemingly either turned into a zombified, debt-slave to DC and London(if they submit), or bombed into a fiery crisp, if they stand up and resist.

Mar 09 10:22

U.S. Banks Bankrolling Nuclear Arms

Some 411 banks, insurance firms, and pension funds have invested $402 billion in 28 companies involved in the manufacture, maintenance, and stockpiling of nuclear weapons, authorities on nuclear affairs were told at a conference here.

Such weapons are now so powerful---up to 50 times as devastating as the bombs dropped on Hiroshima and Nagasaki---that they represent a threat to all life on the planet, said Susi Snyder, Program Manager of PAX, the main civil organization in The Netherlands that works for peace. (Snyder is a former Secretary-General of the Women's International League for Peace and Freedom.)

"After all the financial scandals, crises and promises to act in a more responsible and transparent way, here is the evidence that these same financial institutions continue to make unethical investments, into weapons of mass destruction," Snyder said.

Mar 09 09:36

This Was Not Supposed To Happen

As Mario Draghi unleashes his trillion euro bond buying program - aimed from what we are told, at lowering risk premia in credit markets to stimulate the eurozone's economy from utter stagnation - things are not going according to plan. Away from Greece, peripheral bond spreads are all up 8bps on the day and stock indices are mixed on this first day of DOMO (Draghi Open Market Operations) Of course, the other reason for Q€ is to implicitly (because one would never explicitly admit to joining the currency wars) devalue the currency - thus improving competitiveness and exports for the EU; but that's not working out so well as Germany's exports dropped and missed by the most since August... this was not supposed to happen.

Mar 09 09:36

Will Mexico’s Oil Give the U.S. Another Excuse for Covert Intervention?

Energy resources can never be ignored in geopolitics. And an often forgotten fact is that Mexico is its northern neighbor’s third-largest source of foreign oil—enticingly located right next door.

Mexican petroleum and gas are about to hit the big time, with estimates that as much as $50 billion in new investments could flow into the country by 2018. The bidding began last year, and financiers are looking past today’s sharp drop in oil and gas prices at a lucrative future.

Naturally, outsiders who come drilling will expect a stable environment for profit. Companies do not want blocked shipments, bombed transit routes, kidnapped executives, or other interference from the cartels.

Webmaster's Commentary: 

Where there's money to be had/made, I would not bet against American military involvement.

Mar 09 08:37

Outrage boils over as B.C. government plans to sell groundwater for $2.25 per million litres

More than 82,000 people have signed a petition against the government’s plans to sell B.C.’s water for $2.25 per million litres.

“It is outrageous,” says the online petition from SumOfUs.org, that corporations can buy water “for next to nothing.”

Webmaster's Commentary: 

... and sell it back to us for $2.25 per 1 liter bottle!

Mar 09 08:22

10 Facts That Show The Unemployment Numbers Are a Giant Lie

On Friday, we learned that the official “unemployment rate” has fallen to 5.5 percent. Since an unemployment rate of 5 percent is considered to be “full employment” by many economists, many in the mainstream media took this as a sign that the U.S. economy has almost fully “recovered” since the last recession.

In fact, according to the Wall Street Journal, some Federal Reserve officials believe that “the U.S. economy is already at full employment“. But how can this possibly be? It certainly does not square with reality. Personally, I know people that have been struggling with unemployment for years and that still cannot find a decent job. And I get emails from readers all the time that are heartbroken because they are suffering through extended periods of unemployment.

Mar 09 08:14

NATO's Not Enough! President Juncker Calls For Creation Of European Army To "React Credibly" To Russia

No lessor official than European Commission President (and liar-when-it's-serious) Jean-Claude Juncker has called for the creation of an EU army... in order to show Russia "that [The EU is] serious about defending European values." Juncker explained an EU army would "help us fulfil Europe's responsibilities in the world," arguing that NATO was not enough since not all EU members are part of the alliance. As one stunned euro-skeptic exclaimed, "we have all seen the utter mess the EU has made of the economy, so how can we even think of trusting them with its defence."

Mar 09 07:17

ECB begins economic stimulus program

The European Central Bank is beginning a trillion-euro program to stimulate growth and ward off deflation. The bank will start creating 60 billion fresh euros each month, using it to buy up private, and sovereign bonds.

Mar 09 07:16

New Orders Look Recessionary

Mar 09 07:11

Currency Wars Continue As IMF Concedes End To Dollar Hegemony

Last month the Deputy Managing Director of the IMF, Japan’s Naoyuki Shinohara, openly stated that emerging markets in Asia should begin the process of de-dollarisation “to mitigate against external shocks and constraining the central bank’s ability as lender of last resort.”

This is interesting as the IMF has historically been one of the main agents of dollar hegemony. We believe it demonstrates the level of risk now extant in the system that the IMF should be promoting a move away from the dollar, possibly towards Special Drawing Rights (SDRs).

China and Russia have negotiated currency arrangements excluding the dollar in recent years. Kazakhstan has also explicitly announced a process of de-dollarization, in an attempt to bolster the local currency, the tenge.

Mar 09 07:00

Nearly At ‘Full Employment’? 10 Reasons Why The Unemployment Numbers Are A Massive Lie

On Friday, we learned that the official “unemployment rate” has fallen to 5.5 percent. Since an unemployment rate of 5 percent is considered to be “full employment” by many economists, many in the mainstream media took this as a sign that the U.S. economy has almost fully “recovered” since the last recession.

Mar 09 04:55

Iron ore at new lows tonight

Mar 08 17:01

92.9 Million Americans not in the Labor Force: 12,369,000 Lost Since 2009

If you believe the federal government, you might think the economy is just chugging along – you also might think unicorns are real and a lucky little green leprechaun is going to drop a pot of gold at your door – unfortunately the fairytale being spun by the government and their media propagandists is just that, one big tale.

According to the federal government the unemployment rate is right at 5.5%. What they’re not telling you is that number is completely fabricated; it’s actually closer to 23% — something I pointed out earlier this year. To get a real look at what’s going on with the workforce, you have to look at the labor force participation rate; that number is hovering near the lowest recorded number since 1978.

The real unemployment numbers show that 92.9 million Americans are not participating in the labor force. The 5.5% unemployment rate is a complete fabrication; it doesn’t take into account those who have stopped looking because they can no longer find a job.

Mar 08 16:56

The Price Of Lumber Is Plunging

First the Baltic Dry Index, then oil – now lumber. The price of lumber has dropped 13% since the end of January.

All three of those indicators are telling us the economy is collapsing.

What will be Wall Street’s excuse for this? If the price of lumber is dropping like this, it means new homebuilders have significantly reduced their purchase of lumber to build new homes. If they are building less new homes, it means the demand for their new homes is falling quickly, especially in relation to their overbloated inventories.

Mar 08 16:51

Caught On Tape: Greek Student Confronts Dijsselbloem, "Loan Sharking"

Following a speech at Delft University in Holland, Eurogrpup head Jeroen Dijsselbloem was confronted by a calmly-spoken, rational-thinking Greek student, who explained the misery and insanity of what the EU is doing to Greece... "1000s of Greek have committed suicide because of your policies... you keep on giving loans to Greece to pay back the same loans... its like going one loan shark to another loan shark to get more loans to pay back another loan shark."

Mar 08 16:42

Harvey Organ: HSBC CLOSING ALL 7 OF ITS LONDON GOLD VAULTS!! WHY?

HSBC is closing all 7 of its vaults in London. Remember these guys are the custodians to the GLD.

Are they closing because the gold is not there? If it is there, to whom are they transferring the gold to?

This is a very profitable business for HSBC, SO WHY ARE THEY CLOSING ALL PHYSICAL VAULTS!?!

Mar 08 15:57

Insider Alan Greenspan Warns of Explosive Inflation: “Tinderbox Looking For a Spark”

The reality of the situation is we’re in trouble and Alan Greenspan, arguably one of the most informed insiders on the planet, has implied that it’s more than likely unstoppable:

Mar 08 15:31

Documentary - Obstruction of Justice - The Mena Connection

BILL CLINTON … Hillary Clinton

An eye opening account of political corruption that started in the state of Arkansas and has moved all the way to the White House.

The Activities at Mena - MENA is no myth! By Michael Rivero
http://whatreallyhappened.com/RANCHO/POLITICS/MENA/mena.php

Mar 08 12:19

The Punishment for Ignoring Obamacare Penalty Might Surprise You

Now that April 15th is on the horizon, many taxpayers are bracing themselves for the inevitable penalty that will hit them if they don’t sign up for Obamacare. It’s estimated that at least 3 million households may have to pony up 1% of their income, or $95 per adult, if they don’t have insurance; a number which is poised to expand to 2.5% for the 2016 tax year.

However, for all its bluster and intimidating language, the Affordable Care Act might not have any teeth. Recently, a tax expert writing for Forbes noticed that Obamacare, while far-reaching and burdensome in terms of what it demands from the American people, offers little to no repercussion for anyone who would be tempted to avoid it.

Mar 08 12:19

The Existential Economist and Interest Rates

Mar 08 12:18

Opting Out Of The Obamacare Tax: What Happens If You Don't Pay?

Last month, the Obama administration announced that between three and six million households – about 2 to 4 % of taxpayers – would be faced with a penalty (or is it a tax?) at tax time for failing to secure “minimum essential coverage” to comply with the Affordable Care Act (ACA), sometimes referred to as Obamacare.

Webmaster's Commentary: 

Mar 08 12:08

Washington Post: Ukraine unofficially has 272 percent inflation!

Whether this admission is made in the hopes of getting more funding to the Kiev regime or whether its intention is to signal that it is time for everybody to get the hell out of Dodge is anybody’s guess, but I personally am much more inclined to believe the latter version. The WAPO actually says that “it’s hard to overstate how challenged Ukraine is” and “Ukraine’s annual inflation is already 272 percent, and, even worse, is picking up speed. Indeed, its monthly inflation rate is 64.5 percent—which translates to 39,000 percent inflation over a year—more than enough to qualify it for “hyperinflation” status” (read the full article, it is very interesting).

Mar 08 11:08

Finally! The US is busting Israeli banks

Bank Leumi, Israel's second largest bank, admitted late last year to helping its American customers evade income taxes, hide assets, and launder their money back into the United States. The bank agreed to pay $130 million in fines to New York regulators and another $270 million to the federal government, and assist in an ongoing probe of other Israeli banks.

But I know that the FBI and SEC have known about this for decades because I personally flagged it to them in 1989

Webmaster's Commentary: 

A reminder that the rich do not in fact pay their "fair share" of taxes. Taxes are for the slaves to pay!

Mar 08 10:31

Germany Has Had Enough With US Neocons: Berlin "Stunned" At US Desire For War In Ukraine

While Russia's envoy to NATO notes that statements by the deputy head of NATO testify to the fact that the leaders of the bloc want to intervene in Russia’s internal politics, and are "dreaming of Russian Maidan," Washington has a bigger problem... Germany. As Der Spiegel reports, while US President Obama 'supports' Chancellor Merkel's efforts at finding a diplomatic solution to the Ukraine crisis, hawks in Washington seem determined to torpedo Berlin's approach. And NATO's top commander in Europe hasn't been helping either with sources in the Chancellery have referred to Breedlove's comments as "dangerous propaganda."

Mar 08 10:29

UK QE has failed, says quantitative easing inventor

When the UK embarked on quantitative easing (QE) in March 2009, in the aftermath of the Lehman Brothers collapse, the Bank of England was expected to administer a monetary stimulus equal to £50bn, writes Liam Halligan.

Over the past four years, such "extraordinary measures" have extended somewhat more, with the Bank's bond-buying programme now amounting to £375bn - almost eight times the original estimate.

Mar 08 10:15

Heta Damage Spreads in Austrian Downgrades, German Losses

Austria’s decision to wind down Heta Asset Resolution AG sent ripples through the financial system, causing credit rating downgrades in Austria and bank losses in Germany.

Webmaster's Commentary: 

Are the dominoes starting to Fall?

Mar 08 09:12

Rothschild Seeks to Advise Ukraine Bondholders in Debt Talks

Rothschild is seeking to advise Ukraine’s bondholders in restructuring talks with a government struggling to avert default after a year of fighting with rebels crippled its economy. The company’s Paris-based sovereign advisory team has been in contact with creditors, Giovanni Salvetti, who handles central and eastern Europe and the Commonwealth of Independent States. Bondholders are bracing for harsh terms as the looming debt revamp drove the nation’s $2.6 billion of notes due in July 2017 below 50 cents to the dollar since mid-February.
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Mar 08 06:45

US National Debt: A Ticking Time Bomb

Mar 08 05:34

Inflation in advanced economies

Mar 07 15:36

Ferguson judge behind aggressive fines owes $170K in unpaid taxes

The judge in Ferguson, Missouri, who is accused of fixing traffic tickets for himself and colleagues while inflicting a punishing regime of fines and fees on the city’s residents, also owes more than $170,000 in unpaid taxes.

Mar 07 10:47

Marc Faber on China's Global Gold Currency

Mar 07 09:42

Rich Flee En Masse To Underground Bunkers

Mar 07 09:41

US Takes New Accounting Extraordinary Measures To Avoid Debt Ceiling

The US Treasury Secretary, Jack Lew, announced the adoption of accounting “extraordinary measures” to prevent reached again the debt ceiling when the March 16 completed the extension granted in 2014 by Congress.

“Raising the debt ceiling does not authorize new spending commitments. It simply allows the government to pay for expenses that Congress has already approved, and thus protects the creditworthiness of the US,” Lew said in a letter to the president of the Chamber of Representatives, Republican John Boehner.

Read More: http://whatisusa.info/us-takes-new-accounting-extraordinary-measures-t...

Mar 07 09:39

Alan Greenspan Warns Stocks Are "Without Doubt Extremely Overvalued"

While America 'believes' it is highly productive, former Fed Chair Alan Greenspan instantly dispels that myth in another ominous appearance on CNBC this morning, "American productivity has gone nowhere in the last few years," and that is what is holding back wage growth. Furthermore, reiterating his concerns about the inverse relationship between surging entitlements and weak savings rates, Greenspan noted, "the annual rate of increase in entitlements of 9% per year...and the people that receive it believe they are getting their money back and have a right to it." There simply is no long-term investment as businesses favor short-term actions as the Maestro explains Fed QE lowering the real rate of interest "has been responsible for the rise in P/E multiples... and when rates normalize, that will reverse," adding that "we can't argue that we are extremely overvalued in the marketplace."

Mar 07 09:37

Lord Rothschild Warns Investors: "Geopolitical Situation Most Dangerous Since WWII"

For Lord Rothschild, preserving wealth has "become increasingly difficult," recently, as he warns, rather ominously, "we are faced with a geopolitical situation as dangerous as any we have faced since World War II." Furthermore Lord Rothschild summarizes his thoughts briefly, eloquently, and ominously... as he touches on the global debasement of fiat currencies, disappointing growth (in light of massive monetary stimulus), and extreme stock market valuations. As Rothschild Wealth Management noted last year, equities are not well supported by current valuations, while monetary policy is limited by high debt levels and interest rates that are already close to zero... exposing equities to a potentially sharp correction.

Mar 07 09:29

Austerity Ireland: Thousands to protest national broadcaster’s ‘biased reporting’

Thousands of anti-austerity campaigners are expected to gather outside the headquarters of RTÉ, Ireland's national broadcaster, on Saturday to protest against what they say is biased reporting that represents the interests of a marginal elite.

Mar 07 09:14

Time Bomb: China's Debt Is Out of Control

Mar 07 09:12

Apple Will Replace AT & T In The Dow Jones Industrial

The US computer giant Apple will make its entry in the Dow Jones, the star of the New York Stock Exchange which includes 30 companies index, announced Friday administrator of this platform to exchange shares.

Apple replaced from March 19 to telecommunications group AT & T, according to a statement highlights the France Press Agency.

This decision will increase the weight of the technology sector in the index as Apple joins Microsoft, IBM, Intel and Cisco, says the paper.

Read More: http://whatisusa.info/apple-will-replace-at-t-in-the-dow-jones-industr...

Mar 07 09:05

Ferguson judge behind aggressive fines owes $170K in unpaid taxes

The judge in Ferguson, Missouri, who is accused of fixing traffic tickets for himself and colleagues while inflicting a punishing regime of fines and fees on the city’s residents, also owes more than $170,000 in unpaid taxes.

Mar 07 08:26

"Zionist Bankster Nukes Hold World Hostage"

chris dorsey demonstrates how Zionists created/control the nuclear arms industry through finance, espionage, and propaganda. The Bank For International Settlements is exposed as the monetary source for all national nuclear powers which is operated by the wealthiest among the clannish Eastern European ethnic group known as the Ashkenazi.

Mar 07 07:54

Toronto Star: Harper's terror fixation draws attention from Canada's failing economy

Two issues dominate Canadian politics. One is talked about. The other is not.

The one talked about is terrorism. It is the topic of the day.

Politicians furiously debate the government’s new anti-terror bill. Does it go too far? Would it do any good if passed?

Or, perversely, would it make matters worse?

The issue that is not much talked about any more — at least by Prime Minister Stephen Harper’s Conservative government — is the economy.

At a fundamental level, the economy is failing. Any number of studies point to this fact. The latest was released this week by the Canadian Imperial Bank of Commerce.

Mar 07 07:22

Global Dollar Risk Rising

Mar 07 07:16

VIDEO: How ADHD Is Linked To A Failing Education System

Robinson believes that ADHD is a by-product of this chaos, pointing out that the condition “has risen in parallel with the growth of standardized testing”. He questions whether the children who are being prescribed Ritalin to calm them down aren’t simply being anesthetized instead, adding that a focus on the arts (being present and fully alive) would be a much better solution to the problem of boredom and fidgeting in class. “Anesthetics shut your senses off and deaden them,” says Robinson. “We shouldn’t be putting [children] to sleep; we should be waking them up.”

Mar 07 06:58

German Recovery? Don't Bet on It

For those impatient to proclaim a Western recovery, this Reuters article is for you. It tries to make the case that the numbers are finally turning favorable for Germany and perhaps for parts of Europe as well.

We can't help recall the talks of green shoots some four years ago, or the constant din of recovery predictions that have been proffered in the mainstream media since then. We observed around that time that there likely would be no real recovery, only an upward surge of securities mart averages in the US and abroad as central banks pumped money into the financial sector while pretending that its Keynesian stimulation would benefit the working class.

Mar 07 06:51

Beware of Savior Merkel

A few days ago, The International New York Times published an interesting op-ed by German journalist Jochen Bittner, who is a political editor at the staunch pro-American newspaper Die Zeit and a contributing opinion writer for The International New York Times.

If you read Bittner’s article, you will understand why other journalists are wondering which drugs the guys at Die Zeit are taking.

Bittner is worried that “our enlightened societies” suffer from an “autoimmune disease.” This is evident from the reluctance to support a war against Russia, the widespread opposition to the Transatlantic Trade and Investment Partnership (TTIP) and the election of an “anti-globalization” government in Greece.

Thus, the German journalist comes to the conclusion that the West urgently needs “a dose of the Kennedy spirit.” And according to Bittner, there is only one Western leader left who has what it takes to save us:

Mar 07 06:49

Assets of Two Russian Banks Frozen in US

The Wall Street Journal reported that banks controlled by three billionaire friends of Russian President Vladimir Putin had seen about $640 million of assets frozen in the US

Mar 07 06:07

"If you're unemployed, it's not because there isn't any work."

WEBMASTER ADDITION: Any moment I'll start getting complaints that this is "Communist" thinking. But it does seem to make sense.

Mar 07 05:52

Washington Yanks British Bulldog into Line

The gross interference by Washington in Britain’s forthcoming election on the vital issue of budgetary priorities clearly demonstrates that British «democracy» is but an appendage to an American leash. And the leash is being yanked to pull the snarling bulldog into line.

In a brazen show of bringing-to-heel in their «special relationship», American political and Pentagon chiefs are openly rebuking the British government to maintain its huge military spend on the NATO alliance – to the possible detriment of already withering public services in austerity-clobbered Britain. The imposition by Washington raises serious questions about the nature of democracy in Britain – the self-proclaimed «Mother of all Parliaments».

Mar 07 05:44

Bibi Joffrey and the Flower of Zion

The walls are thick and strong beyond imagining, but the elders who sleep in the bowels of Zion know that this rumbling at their foundation marks well their inevitable fall.

The first great stone has hit the ramparts of Zion. The elders within the walls, down in the bowels of the fortress, have sat bolt upright, as they have felt the unmistakable rumbling vibration. Their eyes, which are usually narrow with the self-regard of the power of their own devious cunning, have suddenly gone wide with fear, as instantly they know that the inevitable has arrived upon them.

As another great stone finds the wall, and shakes the very air, these elders fly from their beds with great alarm.
The walls are thick and strong beyond imagining, but the elders who sleep in the bowels of Zion know that this rumbling at their foundation marks well their inevitable fall.

Mar 06 16:59

World economy: Abandon ship?

Mar 06 16:46

Jews and Moneylending: A Contemporary Case File

Some things never change, and one of these things seems to be the Jewish connection to usury. During a recent conversation with a good friend who now finds himself at the sharp end of the financial downturn, he mentioned having been forced to turn to the ‘services” of what has become known as a “payday loan” company. The relatively small, short-term, unsecured loans offered by these companies, to those struggling to hold onto the socio-economic ladder, very often come with eye-watering rates of interest.

Mar 06 16:41

Currencies vs. US $ since last July:

Mar 06 16:28

Quantitative easing imminent as ECB boss Mario Draghi fires €1.1trn starting gun

The European Central Bank boss Mario Draghi declared an end in sight to the eurozone’s economic woes yesterday as he prepared to fire the starting gun on a €1.1trn (£798bn) quantitative easing programme within days.

Mar 06 16:21

Greece Proposes To Become A Tax-Collecting Police State: Will "Wire" Tourists And Unleash Them As "Tax Inspectors"

"We propose the following: that large numbers of non-professional inspectors are hired on a strictly short-term, casual basis (no longer than two months, and without any prospect of being rehired) to pose, after some basic The very 'news' that thousands of casual "onlookers" are everywhere, bearing audio and video recording equipment on behalf of the tax authorities, has the capacity to shift attitudes very quickly, spreading a sense of justice across society and engendering a new tax compliance culture - especially if combined with the appropriate communication of the simple message that the time has come for everyone to share the burden of public services and goods."

- Yanis Varoufakis

Mar 06 15:54

Why Gold Hasn’t Disappointed Rick Rule

Mar 06 13:11

Debt Jubilee for the Bankers – Austerity for Us

How do you know when you are about to be run down by a train? Well, typically you see it coming. What about when Credit Default Swaps are about to blow up and you see the financial world flying off a cliff; how does one see that coming? Well, you can only see that after you have fallen and tumbling toward planet earth, picking up speed as you fall!! Sounds awesome!

Mar 06 11:56

DOW JONES BACK IN THE 17000s - No Happy Ending Today!

Mar 06 11:40

Mainstream financial experts recommend: take out a loan and invest in stock markets

The anecdote goes that avid investor Joe Kennedy was on his way to work in the winter of 1928 and stopped to have his shoes shined

Mar 06 11:40

Lew to Congress: US hits debt limit on March 16, needs to be raised ASAP

Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, but would begin taking "extraordinary measures" to finance the government on a temporary basis, according to the U.S. Treasury.

In a Friday morning letter to House Speaker John Boehner and other House and Senate leaders, Treasury Secretary Jack Lew said that his office will be forced to suspend the issuance of State and Local Government Series securities on Mar. 13 unless the debt limit is [in]creased.

"Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible," Lew wrote in his letter.

Webmaster's Commentary: 

Mar 06 10:24

Don Young Suggests Wolves Could Help Get Rid Of Homeless People

Rep. Don Young (R-Alaska) suggested Thursday that the solution to homelessness is wolves.

Young made the comment during a House Natural Resources Committee hearing during an exchange with Interior Secretary Sally Jewell. He was arguing that gray wolves should be taken off the endangered species list, criticizing the National Park Service and his congressional colleagues who seek to protect the animals.

“How many of you have got wolves in your district? None. None. Not one," Young said, calling the gray wolf "a predator."

“We've got 79 congressmen sending you a letter, they haven’t got a damn wolf in their whole district,” Young added. “I’d like to introduce them in your district. If I introduced them in your district, you wouldn’t have a homeless problem anymore.

Webmaster's Commentary: 

Has this man gone absolutely barking mad, to have made that statement in a congressional hearing?!?

IF he ever says that he was quoted out of context, and proclaims that this was "only a joke" about homelessness, it is a pretty sick one.

Mar 06 09:07

Here's where to find the world's cheapest gas

Mar 06 08:44

VIDEO: "No, Obama, Russia’s economy isn’t in tatters"...

RT

Rodney Shakespeare: "The Western Agenda will FAIL"

Mar 06 08:42

INTERVIEW: - Industrialized nations become third world | Jim Willie

Central Banks Buying 100% of Sovereign Debt

Mar 06 08:22

Did The BLS Once Again Forget To Count The Tens Of Thousands Of Energy Job Losses?

A month ago we asked if the "BLS Forget To Count Thousands Of Energy Job Losses" when as we showed, the BLS reported that only 1,900 jobs were lost in the entire oil and gas extraction space, which was a vast underestimation of what is taking place in reality, when compared to not only corporate layoff announcements, but what Challenger had reported was going on in the shale patch, when it calculated that some 21,300 jobs were lost in January in just the energy sector.

Today we ask again: did the BLS once more forget to add the now tens of thousands of jobs lost in the US energy sector? We ask because the divergence is getting, frankly, ridiculous.

Mar 06 08:13

295,000 more jobs in Feb.

(A lot of Snow Removal hours were logged during the month of February , this year .)

Mar 06 08:09

Bank of England investigated for fraud

Mar 06 07:59

Almost 100 families evicted daily in Spain – statistics

At least 95 families were evicted every day in Spain in 2014, fresh statistics say as Spaniards struggle to meet mortgage payments. Home foreclosures have become a stark symbol of the 7-year economic crisis, with 2014 seeing a further rise in numbers.

Mar 06 07:56

DC Fed wrestles away big-bank oversight from New York

The most feared man on Wall Street is in Washington, DC.

Federal Reserve Board Governor Daniel Tarullo has quietly wrestled control of big bank oversight from the New York Fed.

The move by DC is a clear black eye for the New York Fed, a first among equals when it comes to regional Fed banks and the traditional front line regulator of big banks like Citigroup, Goldman Sachs and JPMorgan Chase.

The consolidation of power in DC also means that New York Fed President Bill Dudley must take a back seat for Tarullo when it comes to regulating the big banks — as happened in Thursday’s announcement of stress-test results.

Mar 06 07:40

Homeland Security Bill Includes $13M in 'Jewish Earmarks'

Orthodox and Federations Applaud Measure

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