ECONOMY

Aug 27 15:34

Ebola Devastates West Africa: Revenues Down; Markets Not Functioning; Projects Canceled; GDP Plunges 4%

The market, in its infinitely rigged wisdom, has concluded that the worst Ebola outbreak in history is a non-event, even though it has put virtually all of western Africa on indefinite lockdown, and as Reuters reports, is "causing enormous damage to West African economies and draining budgetary resources." In fact the damage from Ebola to Africa is already so acute, it is expected that economic growth in the region will plunge by up to 4 percent as foreign businessmen leave and projects are canceled, according to the African Development Bank president said. Revenues are down, foreign exchange levels are down, markets are not functioning, airlines are not coming in, projects are being canceled, business people have left - that is very, very damaging," African Development Bank (AfDB) chief Donald Kaberuka said in an interview late on Tuesday.

Aug 27 14:09

4-Year Low on Tap for Labor Day Gas Prices

The average pump price of a gallon of gas is expected to reach $3.41 by the Labor Day weekend, down more than a penny from Wednesday’s price and down more than 2.5 cents from last Friday’s price. The holiday price is 18 cents below last Labor Day and a whopping 42 cents below the Labor Day 2012 price.

Aug 27 13:50

Dozens of Businesses Move HQs Outside America Under Obama

This process, called inversion, has been occurring more and more often, despite the fascistic suggestion by President Obama that headquartering outside the United States represents a betrayal of God and country. Members of the Obama administration have taken to labeling business inversions a lack of “economic patriotism” – presumably under the assumption that to stay in America, cut jobs, and lose all profits in order to pay higher taxes represents a sort of higher moral value than moving one’s headquarters and continuing to pay millions of workers and reward consumers with better and cheaper products.

Aug 27 13:35

Stocks Soar as Bankrupt U.S. Economy Stagnates

It's a fact: America is technically bankrupt.

Aug 27 13:12

Homeless Woman Says Deputy Used Excessive Force

A homeless, handicapped woman says she was attacked by a Polk County Sheriff’s deputy, simply because she is homeless.

Aug 27 12:58

Do not use Safety Deposit Boxes

According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that “under the Patriot Act” the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make “periodic and unannounced” visits to any bank to open and inspect the contents of “selected safe deposit boxes.”

Further, the DHS “shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence” any of the following items “bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature.”

Aug 27 12:38

Tropical Wave Boosts Orange Future Prices

Aug 27 12:25

Fed Vice Chairman Warns: Your Bank May Seize Your Money to Recapitalize Itself

Recent comments delivered by Federal Reserve Vice Chairman Stanley Fischer suggest that not only are global and domestic economies still struggling, but the U.S. government itself is preparing financial contingency plans in anticipation of another widespread economic event.

Aug 27 10:56

Britain would be poorer than any US state except Mississippi if it joined America

If Britain was to leave the European Union and join the US, it would be poorer than all of the other states in America apart from Mississippi, new figures suggest.

The figures, produced by Fraser Nelson, the Editor of The Spectator, also said that without the South-east, Britain could be considered worse off than America's most-deprived state as well.

Nelson said that Britain would rank 50th out of 51 states based on the gross domestic product (GDP) per capita figures and cost of living.

Aug 27 09:33

US Surveillance Flights A Step Toward Expanding War Into Syria

Officials confirmed the move toward surveillance flights over ISIS targets in Syria, leaving somewhat open the question of when the US is going to start launching airstrikes against targets inside Syria, expanding the Iraq War across the border.

Yet it’s not really a question of if, but when, as the surveillance flights are clearly the first step toward such attacks. The primary question is how to start launching such attacks without Syrian coordination, since officials want to avoid the appearance of cooperating with Syria.

The questions abound about expanding the war into Syria and are mostly unanswered, with Gen. Dempsey pushing the attacks, and the US already giving targeting intel to Syria’s government for the ISIS war.

Webmaster's Commentary: 

The real reason the US government is going into Syria, and back into Iraq, is that with ISIS controlling so much of the oil (at 2 to 3 million dollars of revenue per day), the oil is not being sold in US dollars, but other denominations.

This is about wrestling back economic control of the oil, and the currency in which is is sold.

Aug 27 09:07

Russia’s Gazprom Neft to Sell Oil for Rubles, Yuan

The Russian oil company Gazprom Neft has agreed to export 80,000 tons of oil from Novoportovskoye field in the Arctic; it will accept payment in rubles, and will also deliver oil via the Eastern Siberia-Pacific Ocean pipeline (ESPO), accepting payment in Chinese yuan for the transfers, the Russian business daily Kommersant reported Wednesday.

The Russian government and several of the country’s largest exporters have widely discussed the possibility of accepting payments in rubles for oil exports.

Last week, Russia began to ship oil from the Novoportovskoye field to Europe by sea. Two oil tankers are expected to arrive in Europe in September. According to Kommersant, the payment for these shipments will be received in rubles.

Gazprom Neft will not only accept payments in rubles; subsequent transfers via the ESPO may be paid for in yuan, the newspaper reported.

According to the newspaper, the change in currency was made because of the Western sanctions against Russia.

Webmaster's Commentary: 

And please note that the US dollar has been neatly expunged from any of these transactions!!

Aug 27 09:03

Physical Silver Inventory Declined By 24%

As I mentioned in a earlier article, the Comex is more of a paper trading exchange in which the majority of contracts are settled in cash. However, the opposite is the case with the Shanghai Futures Exchange as the majority of contracts are settled with physical metal.

At the beginning of August, there were 148 metric tons of silver on warrant at the Shanghai Futures Exchange. In just three weeks, 29% of the total inventory was removed. The majority of this decline took place last week when 22 metric tons were withdrawn on Friday alone.

Also, we can see that since the beginning of July, 131 metric tons, or 56% of total silver stocks were removed from the Shanghai Futures Exchange. At this trend, it would only take a few more months to totally wipe out the remaining inventory.

Aug 27 08:46

Western sanctions push Russia, China closer; hurt dollar

y forcing Russia to conduct more business in the yuan and other Asian currencies, the U.S. may be speeding up the end of the petrodollar and giving China more prominence on the world stage.

As the West tightens financial sanctions against Russia over the conflict in Ukraine, Russian businesses are reducing their exposure to the dollar to minimize the damage from still tougher punishments. Many of these businesses have turned to the Hong Kong dollar as an alternative to the greenback.

Russian mobile phone carrier MegaFon said it will convert 40% of its dollar- and euro-denominated cash reserves into Hong Kong dollars.

Major nonferrous metal producer Norilsk Nickel has also decided to shift its U.S. dollar funds into the Hong Kong dollar.

Webmaster's Commentary: 

It has become painfully obvious that a major, mandatory prerequisite for working for this Administration is the pathological inability to think things through to their logical conclusion.

I am having an industrial strength, palm to forehead moment, at velocity, upon reading this!!

Aug 27 08:41

Ten more countries that may default on debt after Argentina

Argentina defaulted for the second time in 12 years after hopes for a midnight deal with holdout creditors were dashed, setting up stock and bond prices for declines on Thursday and raising chances a recession could worsen this year.

After a long legal battle with hedge funds that rejected Argentina’s debt restructuring following its 2002 default, Latin America’s third-biggest economy failed to strike a deal in time to meet a midnight deadline for a coupon payment on exchange bonds.

Even a short default will raise companies’ borrowing costs, pile more pressure on the peso, drain dwindling foreign reserves and fuel one of the world’s highest inflation rates.

However, Argentina is not the only country that has struggled to pay its debt recently. There are 10 other countries currently on Moody’s lists with a rating of Caa1 or worse, meaning they are at risk of default.

Webmaster's Commentary: 

IT is amazing that the United States is not on this list, as the economy is very shaky, no matter how the stock market looks right now, and the value of the US dollar is under siege through consistent "qualitative easing" by the Fed.

Aug 27 06:59

Will Republicans Block Action On Corporations Abandoning The U.S.?

There is legislation before Congress to do something about corporations renouncing their US "citizenship." The odds are that Republicans will block it -- and not just because they have obstructed everything else.

There is a wave of news about corporations using a technicality called an "inversion" to renounce their US "citizenship." An inversion is when a US company buys or merges with a non-US company, and then pretends it is no longer a US company. Today it's Burger King. Not long ago it was Walgreens.

Keep Same Executives, Employees, Facilities And Customers

Aug 27 06:56

European Parliament Fails to Calculate Impact of Sanctions Prior to Implementation

The European Parliament did not conduct any of its own official studies on the impact of its sanctions against Russia prior to their implementation or to this day, said Director-General of the European Parliamentary Research Service (EPRS) Anthony Teasdale and Secretary-General of the European Parliament (EP) Klaus Welle on Tuesday.

“On sanctions, no we have not, in the European Parliament Research Service, done any analysis on the financial implications,” said Teasdale in response to a question from RIA Novosti at a Wilson Center event on EU economic integration.

He said there had been no requests from parliamentary committees, noting that “the committees have not been meeting for the last three or four months, because we’ve been having European elections.”

Aug 27 06:41

IMF chief Christine Lagarde under investigation in France

Christine Lagarde, the chief of the International Monetary Fund, was placed under official investigation Wednesday for negligence in a French corruption probe that dates back to her days as France’s finance minister.

In a statement after a fourth round of questioning before magistrates, Lagarde said she would return to her work in Washington later in the day and said the decision was “without basis.”

She and her former chief of staff face questions about their role in a 400 million-euro ($531 million) payment to a businessman.

Aug 27 06:18

Bankers Suck Lifeblood from Argentina

Paul Singer is not a nice guy.

The Jewish billionaire head of Elliott Management Corp. and a few mega-rich vulture fund managers have no problem with the likely economic destruction of the sovereign nation of Argentina, birthplace of Pope Francis.

By demanding full value for defaulted Argentine bonds they purchased for a pittance and refusing to accept a reasonable settlement, the unscrupulous profiteers may have forced the South American country to the brink of bankruptcy. If they succeed in their piratical efforts, these plutocratic poobahs will almost certainly cause the total collapse of the struggling Argentine economy, creating rampant poverty, joblessness and chaos. Already in 2006, commentator Adrian Salbuchi, at Canada’s Global Research website, likened this to “financial genocide and terrorism.”

Aug 27 05:16

Dutch farmers dump tonnes of produce as Russian sanctions hit prices

Tonnes of tomatoes, pears and apples were being dumped by Dutch farmers on Wednesday as they signed up for compensation after prices plunged in response to Russian sanctions on Western food imports, officials said.

Around 45 major food growers registered for EU compensation with the Netherlands Enterprise Agency, which is coordinating the Dutch programme, under which their oversupply can be donated to charity or destroyed.

The Netherlands, the world's second-largest exporter of agricultural products, sells hundreds of millions of euros worth of vegetables, fruit and food products to Russia every year.

The Dutch statistics office has estimated the country's agriculture sector will suffer about 300 million euros ($395.5 million) in lost business this year, with Russia accounting for about 10 percent of Dutch exports of vegetables, fruit and meat.

Aug 27 04:52

Toxic Decayed Meat Being Sold As “Fresh

After reading this you may never trust Congress or the FDA again, let alone corporate chain grocery stores. This toxic practice makes seriously decayed meat look fresh for weeks and is banned in many countries including the European Union and Japan. Many consumers are unaware that over 70% of beef and chicken in the United States and Canada is treated with poisonous carbon monoxide gas and the FDA allows it, despite the known public health risks.

A bill was introduced in Congress that would require the labeling of meat that has been treated with carbon monoxide but it was never enacted and the topic was swept under the rug entirely. [Bill: H.R. 3115 (110th) introduced on July 19, 2007; never enacted.]

This practice makes meat appear and smell fresh even when contaminated with harmful bacteria such as Clostridium botulinum, Salmonella, Campylobacter, and E-coli 0157:H7

Aug 26 22:08

Growing National Unrest Has Many Worried, Even Capitalists

According to S&P’s assessment, “extreme” levels of income inequality can harm growth over long periods of time, and in their view, the United States is approaching a level of inequality that is very near the threshold of being dangerous.

Aug 26 22:00

Blue Blood Democratic Law Firm Advises Senate Candidate Cyrus Habib to Dodge Tough Questions*

*Of course the motivation is pure speculation. But given the lack of any substantive response, it is a logical inference.

Tuesday, August 26, 2014

Cyrusgate? Did Perkins Coie Advise Cyrus Habib to Ignore Four Troublesome Questions in the 48th Senate Race Against Michelle Darnell?

Remember the four (4) questions I posed to 48th District Candidates Cyrus Habib and Michelle Darnell a month ago after a completely inaccurate endorsement from the Seattle Stranger stated that Ms. Darnell was in favor of raising taxes on Joe the Plumber? Well in case you don't recall, they are linked above and replicated in the comments section below for your edification.

Aug 26 19:54

6 Charts Prove the Economy is in CRISIS MODE!

Aug 26 17:39

The top 1% is richer than we thought

Aug 26 17:09

With Half Of City Residents Delinquent, Detroit Restarts Water Shut-Offs

"Utility disconnection is always considered a last resort, obviously because of consequences for households," but as Detroit News reports, but water-providers can expect more controversy, as a month-long moratorium against shutting off water for those behind on their bills expired last night. Halting service to people that don't pay generate outrage among not just Detroit residents but a wider audience who proclaim 'water should be a right'. However, as one utility director noted, "We've seen a lot more payments...They need that little kick in the pants to get in here and do it." Water industry experts say cities with high delinquency rates sometimes have few other effective options for getting customers to catch up on their bills. Roughly half of Detroit’s 170,000 customers were delinquent as of last spring.

Aug 26 16:18

France's president replaces economy minister with "former" Rothschild Banker

President Francois Hollande replaced his maverick leftist economy minister with a former Rothschild partner on Tuesday, in a reshuffle intended to reconcile his efforts to revive the stagnant French economy with deficit-cutting orthodoxy.

Aug 26 16:12

YUMMY! Toxic Decayed Meat Being Sold As “Fresh”

After reading this you may never trust Congress or the FDA again, let alone corporate chain grocery stores. This toxic practice makes seriously decayed meat look fresh for weeks and is banned in many countries including the European Union and Japan.

Aug 26 15:57

What is the Difference Between the Democrat NationalCommitee and the Communist Party USA?

In America, conservatives have always been acutely aware of Communism, but the 47% who still approve of Barack Obama and those who are members of the Democratic Party are the dupes of those whose quest for tyrannical power permits them to tell the most appalling lies, particularly about Republicans.

The Democratic Party is so politically corrupt and devoid of moral standards that it is currently engaged in seeking to harm potential Republican presidential candidates with an utterly bogus indictment of Texas Governor Perry and the slanders leveled against New Jersey Governor Christie. It is a tactic of those who fear a loss at the ballot box.

Aug 26 15:02

Hollande puts economy in hands of 36 year-old ex-banker

The French President revealed on Tuesday the names of the ministers in his new government tasked with pushing through crucial reforms. The key role of Economy Minister went to former banker and key Hollande ally, Emmanuel Macron, aged just 36.

Aug 26 15:00

Physical Silver Inventory Declined By 24%

Aug 26 14:17

American gangsters! Matt Taibbi & Max on suckers buying bogus & big bank mass perjury

Matt Taibbi talks about the injustice that follows the wealth divide and how Ferguson, Missouri plays into that.

Aug 26 13:34

Food Stamp Enrollments Top 45 Million 3 Years In a Row

President Barack Obama and vulnerable Democrats facing tough midterm elections in 71 days are scrambling to prop up the moribund U.S. economy in the minds of disgruntled voters. However, one of the quickest shorthand economic measurements–food stamp enrollments–paints a startling portrait of the “new normal” in the Obama economy.

Aug 26 11:33

Last Week Tonight with John Oliver: Wage Gap

Aug 26 11:15

States with medical pot see nearly 25 percent fewer fatal prescription drug overdoses

Crime rates drop. Overdose deaths drop. Potheads are better drivers with fewer accidents according to the insurance actuarials. Kills all kinds of cancer. Alleviates chronic pain. Grows new nerve cells...ect.! ect.! ect.!
GEE! Wonder why it's still illegal!

Aug 26 10:29

Detroit to send crews for water service shutoff today as moratorium ends

Detroit says the last of a series of "water fairs" has helped at least 1,300 residents avoid having their taps run dry as a shutoff moratorium ends.

Monday marked the end of the water shutoff moratorium, and the Detroit Water and Sewerage Department was expected to send crews out Tuesday to turn off service to customers who owe money and haven't made a payment arrangement.

Webmaster's Commentary: 

US aid to Israel; at least three billion a year!

US aid to Detroit; ZERO, ZIP, NADA!

Aug 26 10:14

The Rise of Suburban Poverty

Aug 26 09:09

It Begins: Council On Foreign Relations Proposes That “Central Banks Should Hand Consumers Cash Directly”

Moments ago a stunning article appearing in the “Foreign Affaird” publication of the influential and policy-setting Council of Foreign Relations, titled “Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People.”

Aug 26 08:51

What economic recovery?

Would you stand in line, for hours, in 91°F temp under the scorching sun, for a box of free food?

More than a thousand people in Miami did just that on Friday, Aug. 22.

Aug 26 08:46

Russia to Protect National Interests if West Imposes New Sanctions – Lavrov

Russia will do everything possible to protect its legitimate interests and national security if the West decides on new sanctions, but prefers to stay away from the “road of escalation”, Russian Foreign Minister Sergei Lavrov said.

Webmaster's Commentary: 

"Escalation is what we DO!" -- Official White Horse Souse

Aug 26 08:37

Colonization by Bankruptcy: The High-stakes Chess Match for Argentina

Argentina is playing hardball with the vulture funds, which have been trying to force it into an involuntary bankruptcy. The vultures are demanding what amounts to a 600% return on bonds bought for pennies on the dollar, defeating a 2005 settlement in which 92% of creditors agreed to accept a 70% haircut on their bonds. A US court has backed the vulture funds; but last week, Argentina sidestepped its jurisdiction by transferring the trustee for payment from Bank of New York Mellon to its own central bank. That play, if approved by the Argentine Congress, will allow the country to continue making payments under its 2005 settlement, avoiding default on the majority of its bonds.

Aug 26 08:36

Outrage as Burger King eyes move to Canada over taxes

What Burger King is trying to do here is called " corporate inversion". This means a U.S. Corporation buys a foreign company and relocates its headquarters to their country and avoids the crippling Corporate tax rate in the U.S. It's 35% here while in the rest of the world it's about averaging 20% (Ireland is 15%). This saves billions of dollars in taxes for them.

Webmaster's Commentary: 

When you have a private central bank, debt always grows faster than the money with which to pay that debt, until the accumulated debt forces the government into higher taxation and lower spending on infrastructure needed to support business, until companies and individuals are left with no choice but to relocate to more attractive locations. Burger King is not the villain here. The villain is the US Government which 100 years ago sold the American people back into the slavery of the very same system of predatory banking we fought a revolution to break free of, and for that last 100 years refusing to do anything about it, even as the obvious danger signs flashed before their eyes.

Aug 26 08:25

Top general: Islamic State extremists will ‘soon’ pose a threat to the United States

The US military’s top general believes Islamic State extremists will “soon” pose a threat to America and Europe and that an international coalition will be needed to confront it, his spokesman said Monday.

US commanders are preparing possible “options” to counter IS jihadists both in Iraq as well as Syria, according to General Martin Dempsey’s spokesman, Colonel Ed Thomas.

Defense Secretary Chuck Hagel adopted a more strident tone last week at a Pentagon news conference, suggesting the IS militants presented a dire threat that surpassed the danger posed by the Al-Qaeda network.

But Pentagon officials insisted Hagel and Dempsey shared the same views on the IS.

Dempsey “believes that ISIS (Islamic State) is a regional threat that will soon become a threat to the United States and Europe,” Thomas said in a statement.

“He (Dempsey) believes that ISIS must be pressured both in Iraq and in Syria,” he added.

Webmaster's Commentary: 

A memo to Defense Secretary Hagel and General Dempsey: could you possibly telegraph anymore loudly that some elements in this country are gearing up for another false flag, upon which to justify yet more war against....whoever the next target is supposed to be, to prevent the collapse of the US dollar?

Gentlemen, I would strongly suggest to you that IF there is another false flag in this country, skeptical, war-weary Americans will have no stomach for it whatsoever.

Iraq has cratered; Afghanistan is cratering, and Libya has cratered, not to mention other military interventions we're not supposed to know about (like the humanitarian catastrophe in Yemen.)

And if such an even happens, it will demonstrate, incontrovertibly, that everything this country's military and security agencies have done to prevent it have been absolutely, thoroughly, useless and irrelevant!!

And that, gentlemen,is when the American people will wake up, and get angry.

Aug 26 08:07

5 Things You Learn About Rich People Working at a Nice Hotel

The rich and the famous live lives of unthinkable luxury in their gated homes far away from us commoners. But if you want to peer into their bizarre lives without the help of a telephoto lens, all you need to do is get a job at a fancy hotel. Cracked sat down with Taylor Crane, a man who worked in one such hotel and saw the dirty, sometimes literally shitty exploits of the One Percent firsthand. Here's what we learned ...

Aug 25 17:35

The Home-Flipping Bubble Implodes

Aug 25 16:52

Return of the Truth

Aug 25 15:33

Neighbor Calls Cops On Boy’s Lemonade Stand

“It’s all about profit,” said T.J., who has paired his lemonade earnings with lawn-mowing cash for an iPod, snacks, his cellphone bill, trips with his grandfather and dinners with his mother. -- But the boy’s entrepreneurial spirit has rankled at least one neighbor, who has emailed City Hall at least four times in two years and asked law enforcement to shut T.J. down.

Aug 25 15:19

Argentine Peso Collapses on Top of Rogue Regime

Adeptly managed by the central bank and the government, the Argentine peso has been plunging in perfect form, an activity it is very, very good at. And so on Thursday, it plunged 4.1% on the black market, hitting 14 ARS/USD for the first time. With the official rate at 8.39 ARS/USD, the gap between the two soared to a record of 5.61 pesos. A sign that any remaining trace-amounts of confidence in the peso were evaporating.

Aug 25 14:58

7 signs of a robotics bubble

Aug 25 14:54

U.S. New Home Sales Fall Again

The U.S. Department of Commerce reported on Monday that new home sales fell 2.4 percent to a seasonally adjusted rate of 412,000 units, which is the lowest level since March, Reuters reported. New home sales also fell 7 percent in June.

Aug 25 14:48

Sanctions Costs: German Exports To Russia Collapse, "Risk 50,000 Jobs"

Just a month ago, Germany's powerful business lobby threw its weight behind tougher sanctions against Russia (dropping its previous objections). It appears they are now regretting that decision. As The Federation of German Industry (BDI) reports today, exports to Russia in H1 2014 dropped 15.5% from 2013 and "may drop by as much as 25% - posing a risk to 50,000 German jobs." We are sure, as Zee Germans look across the pond at the S&P 500 hitting record highs, BDI's conviction that Russia's action must face significant consequences may just fall apart again.

Aug 25 14:31

America Keeps People Poor On Purpose: A Timeline of Choices We've Made to Increase Inequality

How four decades of lobbying and legislation gave corporations dominion over our economy—and eroded the American middle class.

Webmaster's Commentary: 

"If they have no money, they can't fight back!" -- Official White Horse Souse

Aug 25 14:08

French can't follow Merkel - Austerity not solution to crisis

Disagreement between Eurozone countries has come on the back of very poor GDP growth in recent months. German chancellor Angela Merkel blames euro-neighbours, France among them, saying they're unable to deal with their high deficits, but analyst Michael Mross says Germany's austerity policy will not solve the EU's problems.

Aug 25 12:54

What Are U.S. Consumers Buying?

Aug 25 12:11

SPX targets 2000, but watch for pullback

Aug 25 12:06

Foreclosure: Court Slams Stafne Law Offices in Lamelson v. NWTS DTA/FDCPA Lawsuit Without Discovery.

Saturday, August 23, 2014

KingCast and Mortgage Movies See Court Slam Stafne Law Offices in Lamelson v. NWTS Without Discovery: "They Have the Original Note and Allonge, Summary Judgment Granted."

Two videos forthcoming.
Saturday: Post Hearing Discussions
Monday: The entire hearing.

Aug 25 11:28

Silver Update: FIXING SILVER

Aug 25 11:10

30 stats to show to anyone that does not believe the middle class is being destroyed

The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically destroyed. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a staggering pace.

Aug 25 10:52

VIRTUAL 9-11: Will the US & Israel Hack The US Banking System Computers and Falsely Blame It On Iran (or Syria or Russia or China)?

So what it looks like is being planned, and pre-sold to the American people with all these stories about celebrities' personal information being hacked and made public (an activity that produces no profit for the hackers other than news headlines), and the "Syrian" (nudge nudge wink wink) hack of the AP Twitter feed that shocked the US stock market, is that the US Government will itself take down the US financial computers, and blame it on Iran /Russia/ China/Al Qaeda/Syria/Arabs and others to be named as convenient. This gets Wall Street and Washington DC off the hook, because now the financial melt-down is an act of war, rather than the result of decades of Wall Street crime and corruption and the predations of Private Central Banks. US banks have already been hit with cyber attacks, to set the stage.

Webmaster's Commentary: 

Reposted in light of Today's warming from Wall Street of an impending cyber-attack, along with the wag-the-ISIS from the corporate media.

Optional Banner: 
WRH Exclusive
Aug 25 10:50

French goverment resigns amid rancor over German austerity pressure

The French government has resigned despite being formed just 4 months ago. They quit after ministers slammed President Francois Hollande's plans for taxation and cuts, while also being critical of Germany’s austerity program.

The statement published on Monday said the new office would be formed on Tuesday and would be in the "direction he (the president) has defined for our country."

Following the 2008 financial crisis, Germany has taken the lead to try and resurrect the EU’s economy. This has been marked by cutbacks and taxation, which have not proved to be universally popular within the eurozone. Economics Minister, Arnaud Montebourg, an outspoken critic of Germany, believes that country has hindered France’s development. . .

Aug 25 10:38

‘Independent Scotland may be blocked from EU’

Former president of the European Union's finance council Ruairi Quinn has warned that an independent Scotland could be blocked from joining the EU.

“All [EU] member states have to agree before a new state can become a member. In my opinion, it is highly probable that at least two member states, maybe more, will vote no," Quinn said in a statement on Monday.

He also cited Spain and Belgium as the countries that would probably reject the application of an independent Scotland to join the 28-member bloc with the aim of discouraging secessionist sentiment in Europe.

In the "unlikely" event that Scotland was admitted into the EU, it would be required to agree to join the euro, Quinn added.

Aug 25 10:03

The Old World Order

The immediate and obvious point to make here is that readers should/must immediately become deeply suspicious any time we are bombarded with a label which contains the word “new”. Implicit in every such label (by definition) is the concept that “this time it’s different”, because if it wasn’t different it wouldn’t be “new”.

“This time it’s different” is a cliché in Western societies. But it’s not revered as an aphorism of wisdom. Rather, it is scorned as the mantra of idiots. This same point was made in a previous commentary which debunked and rejected the ludicrous propaganda euphemism: “The New Normal”. The same analysis applies to both propaganda lies.

Aug 25 09:26

The US forced bankruptcy of Argentina

Argentina is playing hardball with the vulture funds, which have been trying to force it into an involuntary bankruptcy. The vultures are demanding what amounts to a 600% return on bonds bought for pennies on the dollar, defeating a 2005 settlement in which 92% of creditors agreed to accept a 70% haircut on their bonds.

Aug 25 08:40

French goverment resigns amid rancor over German austerity pressure

The French government has resigned despite being formed just 4 months ago. They quit after ministers slammed President Francois Hollande's plans for taxation and cuts, while also being critical of Germany’s austerity program.

Aug 25 08:33

The US forced bankruptcy of Argentina

Argentina is playing hardball with the vulture funds, which have been trying to force it into an involuntary bankruptcy. The vultures are demanding what amounts to a 600% return on bonds bought for pennies on the dollar, defeating a 2005 settlement in which 92% of creditors agreed to accept a 70% haircut on their bonds. A US court has backed the vulture funds; but last week, Argentina sidestepped its jurisdiction by transferring the trustee for payment from Bank of New York Mellon to its own central bank. That play, if approved by the Argentine Congress, will allow the country to continue making payments under its 2005 settlement, avoiding default on the majority of its bonds.

Aug 25 08:20

The New Misery Index

Aug 25 05:22

Shell's ex-CEO says sanctions on Russia don't work

The former head of Royal Dutch Shell, Jeroen van der Veer, has said sanctions on Russia just “lead to frustration”, as they did not produce their desired effect and led to more sanctions.

“The sanctions do not work. They lead to counter sanctions, which lead to frustration and never solve anything. (Russian President Vladimir) Putin’s popularity in Russia does not wane in the wake of the sanctions. It increases,” Jeroen van der Veer said on Sunday during a Dutch TV program.

He said constructive political dialogue was the first thing Russia and Ukraine needed to establish, though acknowledging it would be difficult.

“Moscow and Kiev should be willing to talk and Russia should respect the Ukrainian borders,” he said.

Van der Veer began working for Shell in 1971 and was its CEO until 2009.

In July the West imposed sectorial economic sanctions on Russia, including a ban on selling it dual–use technology, and access to sensitive oil technology

Aug 25 01:25

BEX ALERT: Dutch Rage Over MH17 Strengthens Rutte in Putin Standoff

Never mind the article. Please translate and read comments. Yes there is rage, Bloomberg, a lot of it. The Dutch want answers! Start by answering these 25 (labor)questions in parliament: http://zaplog.nl/zaplog/article/kamervragen_over_de_ramp_met_de_mh17

Aug 24 17:44

That 4% Didn’t Hurt Much

Aug 24 11:26

eBay and Bitcoin

Aug 24 09:49

40% of U.S. on Welfare; Obamacare Expands Welfare by 23 Million; More on Welfare Than Full-Time-Employed

As a result of Obamacare Medicaid expansion coupled with means-tested Obamacare assistance, I estimate welfare rolls expanded from 35.4% of the population in 2012 to about 40% in 2014.

Aug 24 08:10

Bitter foes expect Kiwis to lose all cash

Two bitter enemies who fought over a multimillion-dollar distressed Australian mortgage fund now agree on one thing: they expect New Zealand investors to lose all their money.

Just under 3000 New Zealanders had about $140 million in the LM First Mortgage Income Fund (FMIF) in 2009 when it was frozen.

Now, some 18 months after LM's directors called in administrators, both LM's Kiwi founder, Peter Drake, and David Jansen, from fund manager Trilogy, which tried and failed to take over FMIF, believe the return to investors could be zero.

Court-appointed receiver BDO's most recent forecast return on August 4 was that investors would get just A15c a unit.

Jansen had a more gloomy forecast.

"The recovery is going to be zero," he said. "The BDO guys are saying maybe 18 cents in the dollar, but that's not projecting forwards and does not reflect either their fees and the legal fees that will have to be paid."

Aug 24 07:49

Inflation Watch: Is The $5 Bill The New $1 Bill?

Events, food purchased away from home and live entertainment are increasingly unaffordable to the bottom 90%.

Aug 24 07:46

JIM ROGERS - The GOLD BULL MARKET is NOT OVER

Aug 24 07:32

France blasts Germany for "austerity policy"

French Economy Minister Arnaud Montebourg on Saturday criticised German austerity measures and warned France would no longer "be pushed around" by the EU's economic powerhouse.

Aug 24 07:07

Looming Mining ‘Tsunami’ Set to Take Africa by Storm

Rapidly growing countries such as Russia, India, Brazil and China, as well as established, industrialized including Canada and Australia, have plowed billions into mining developments in Africa in recent years. In 2009 China alone invested more than $100 billion each year in mineral extraction, a four-fold increase since the turn of the century. According to data from Global Forest Watch, between 2001 and 2013 alone the DRC lost more than 5.8 million hectares of forest – a swath of land larger than the Netherlands.

The study’s authors point out the enormous opportunity afforded by this influx of cash. Mines can provide much-needed employment, and accompanying infrastructure development in the form of roads and rail lines could help connect farmers to markets, incentivizing increased agricultural yields and encouraging higher incomes through participation in national and regional economies.

Aug 24 06:50

UK Farmers in debt and despair as dairy market collapses

British dairy farmers are threatening to take matters into their own hands as fears grow that volatile markets for their milk, butter and cheese products could jeopardise their livelihoods. Some larger dairy farmers are said to have incurred debts of more than £1m since milk prices first began to plummet in May.

Caught between a UK supermarket price war and a ban by Russia on EU produce, including dairy, which many fear could lead to a glut in Europe, dairy farmers are being asked to take action to help save their industry.

In an attempt to wrest control of the falling market, Farmers for Action, who staged the 2012 SOS Dairy demonstrations, has asked its members to support direct action to be taken by the end of this week. Within 24 hours of consulting its membership, the group received more than 500 "yes" votes, with farmers from around the country expressing grave concerns over the future of UK farming.

Aug 24 06:36

Russia's Aeroflot defies sanctions to create new low-cost airline Dobrolyot

Russian flag carrier Aeroflot will create a new low-cost unit after Western sanctions grounded its first effort to enter the market, the airline's chief executive said on Sunday.

"We will after all register a new airline," Aeroflot chief executive Vitaly Savelyev was quoted as saying by Russian news agencies.

He said the company's low-cost carrier, Dobrolyot, had worked well during the six weeks it was allowed to operate.

Dobrolyot was forced to shut down because it flew to Russian-annexed Crimea and was therefore hit by EU sanctions imposed over the Kremlin's alleged support for pro-Russian rebels in Ukraine, including the cancellation of the leasing contracts for its Boeing aircraft

Aug 24 04:23

British families billed £500 – to prevent Americans dodging tax

Draconian legislation enacted in America – and aimed solely at helping American authorities collect tax from their overseas citizens – is translating into bills of hundreds of pounds for ordinary British families.

The total cost to British businesses and individuals of abiding by the new US laws, which became effective here only last month, is put at £1bn. Most people will pay unknowingly through higher fees for their investments, banking and other services. But for some families the costs are more explicit. And the invoices are starting to land on their doormats.

Aug 23 18:23

This Economy Is Ruined For Everyone

Aug 23 17:41

Hubbert Linearization of Gold and Silver

Aug 23 17:32

A Repeat of Black Wednesday? Soros Bets $2 Billion On Stock Market Collapse: Massive Inflation Ahead

September 16th 1992 is the day that the British government had to withdraw the pound sterling from the European Exchange Rate Mechanism because it was unable to keep the pound above it’s agreed lower limit. The reason for the turmoil in 1992 was George Soros, who made over a billion pounds sterling by short-selling sterling on the markets.

...

Regulatory filings show that Soros has increased his bet against the US stock market by 600% in the second quarter. He has taken out a $2.2 bn bet that the S&P will fall.

...

According to the Telegraph Soros has also increased his stake in Argentinian oil by purchasing 8.5 million shares in the state owned oil company YPF, this is in addition to shares he already holds in the company.

Combine these things with Soros, Warren Buffet and John Paulson dumping American stocks like their life depended on it and you have a very good reason to believe that any financial crash that’s coming, is coming soon.

Aug 23 17:03

Gold Is the Money of Kings, Debt the Money of Slaves

The former Senator of Wyoming ends by saying, "Gold is the money of kings. Silver is the money of gentlemen. Barter is the money of peasants. And debt is the money of slaves."

Aug 23 16:04

"There is no inflation" ...on what planet?

Aug 23 14:10

Corporate capitalism versus human happiness 

Graham Peebles argues that the prevailing paradigm of market fundamentalism, neo-liberalism, globalisation and corporate politics, rather than promote social cohesion and the pursuit of happiness, engender depression, anxiety, greed and disharmony.

Aug 23 13:20

MM47 - If I was Head of the Fed #1

Aug 23 10:53

“The Russian Aggression Prevention Act” (RAPA): A Direct Path to Nuclear War with Russia

RAPA provides de facto NATO membership for Ukraine, Georgia, and Moldova via RAPA

The Russian Aggression Prevention Act, or RAPA, “Provides major non-NATO ally status for Ukraine, Georgia, and Moldova for purposes of the transfer or possible transfer of defense articles or defense services.” Major non-NATO ally status would for practical purposes give NATO membership to these nations, as it would allow the US to move large amounts of military equipment and forces to them without the need for approval of other NATO member states. Thus RAPA would effectively bypass long-standing German opposition to the US request to make Ukraine and Georgia part of NATO.

Aug 23 10:08

Sears may close more stores as it posts 9th consecutive quarterly loss

Sears Holdings said Thursday its loss widened significantly in the second quarter and announced it may close more stores, in addition to the 130 closings underway this year.

Aug 23 08:44

Global Warming Hoax Believers Mobilizing for Propaganda

AVAAZ, an organization linked to shadow powers aiming to enslave and cull 90% of humanity are organizing for a propaganda effort to push politicians further in the fleecing of the people by global warming pretense.

Aug 23 08:30

Global Financial System: On Life Support

Aug 23 06:49

Fighting Back Against Western Sanctions

Ulson Gunnar
Activist Post

While the impact of sanctions leveled against Russia is being debated, one fact is perfectly clear: the dangerous interdependence cultivated by the concept of “globalization” leaves nations vulnerable amid a global order dominated by hegemonic special interests that use such interdependence as a weapon...

Aug 23 06:25

Buggered by Obama, European bootlickers bankrupt their own economies

In a word, by submitting to Washington’s doctrine of permanent wars, Europe eschews the only road out of permanent crisis: peaceful co-existence. The mega-buggers in Washington and the bootlickers in Europe have chosen sanctions over trade and destruction over prosperity. They are paying a price: domestic unrest, displacement from markets by emerging economies and the ascendancy of chaos as a way of life in Western Europe.

Italy faces the reality of a decade of stagnation.

Portugal’s economy crashes and crawls.

Germany’s manufacturing machinery grinds to a halt.

Finland’s ‘principled’ brown-nosing boomerangs.

England is converted into a money-laundering bankers’ city-state where one-third of its children live in poverty.

Poland consumes itself, drunk with weapons and rotting appl

Aug 23 06:21

Sanctions rebound to hit Europeans

The West’s malevolent sanctions on Russia were not imposed because Russia had in any way affected the well-being, economic circumstances, territorial integrity or social structure of the United States or of any nation that jumped on the US sanctions’ bandwagon.

There was no question of enforcing sanctions because Russia’s actions anywhere in the world had impacted adversely on one single citizen of any Western nation. But they were imposed, anyway, just to try to make things difficult for Moscow and to try to ratchet up tension between Russia and the West.

Russia decided to hit back against US and EU sanctions by barring some US and EU imports. And why shouldn’t it, after such gross provocation? But there’s a definite downside for innocent people.

Aug 23 06:06

Lawsuit Number Two: Now Oregon’s Suing Oracle Over Obamacare Disaster

Oregon is suing its lead Obamacare contractor over the spectacular failure of the state’s Obamacare exchange website, weeks after the company originally sued Oregon over the project.

Oregon attorney general Ellen Rosenblum filed a 126-page lawsuit against Oracle on Friday, seeking over $200 million in damages. The complaint claims that Oracle officials made false statements and broke their contract with the exchange. Democratic Gov. John Kitzhaber, who’s facing Republican challenger Dennis Richardson for reelection in November, has publicly urged the state to sue Oracle since May.

“Today’s lawsuit clearly explains how egregiously Oracle has disserved Oregonians and our state agencies,” Rosenblum wrote.

Aug 23 05:43

Obama Buggers Europe: Sanctions Deepen the Recession

The mega-buggers in Washington and the bootlickers in Europe have chosen sanctions over trade and destruction over prosperity. They are paying a price: domestic unrest, displacement from markets by emerging economies and the ascendancy of chaos as a way of life in Western Europe.

Ukraine will join a growing list of countries, Libya, Egypt, Syria, Iraq, Afghanistan, Pakistan, Somalia and Yemen, that Washington and NATO have “saved” (to paraphrase an American general) . . . by being destroyed.

Aug 23 05:32

Portugal Is Now Showing All The Signs Of A Bank Confiscation. Fed Is Pushing The Idea That The Economy Is Very Close To Recovery, And Are Targeting October To End The Stimulus Package.

Portugal is now showing all the signs of a bank confiscation. FED is pushing the idea that the economy is very close to recovery, and are targeting October to end the stimulus package. Obamacare has made firms raise premiums, deductibles and they have seen employment decrease. Police lobbies are putting pressure to keep the Pentagon 1033 program to get military assets. Ukraine, Nato and US are using propaganda that Russia invaded Ukraine. Most of the government officials are using fear mongering tactics to convince the US people that ISIS is ready to attacks. They are constantly out on corporate media pushing terror. This is in preparation for the a horrific false flag event, to get into Syria, Iran and then eventually drag Russia and China into the next World War.

Aug 23 04:56

Poland wants nation to drink more cider as Russia sanctions bite

Poland's economy ministry wants the nation of beer and vodka lovers to drink more cider.

The ministry, which is struggling to help apple producers hurt by a Russian embargo on European foods, has proposed exempting cider from a law that bans advertising any alcohol other than beer.

Poland is a major global apple exporter and had previously sent half its output to Russia.

But the Health Ministry and other health advocates are fighting the proposal. They say it is dangerous to encourage any alcohol consumption at all in a society that does not share the Mediterranean tradition of simply savoring small amounts of wine or beer at mealtimes.

"Poles are not light drinkers - it's the Eastern European model," said Krzysztof Brzozka, director of the State Agency for the Prevention of Alcohol Related Problems.

Aug 23 04:47

Peach protest: Spanish farmers burn EU flag in anger over Russia sanctions war (VIDEO)

A trade union representing Catalonian crop growers and cattle ranchers has staged a protest, demanding that the EU compensate them for the revenues lost as a result of the escalation of sanctions, which have closed the Russian market to them.

A group of about 30 representatives from JARC (Young Farmers and Ranchers of Catalonia), one of the biggest agricultural unions in the region, demonstratively burned crates of ripe peaches outside the Lleida municipality building.

As a throng of journalists looked on, the unionists hurled an EU flag onto the bonfire, which disintegrated in seconds.

"We will not accept any more that the EU keep telling us what to do, these people that have never set foot in a fruit field. For once you will have to listen to the producers, not the consumers," David Borda, a union official, told Ruptly news agency.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA