ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Nov 21 12:17

Mauldin: It's A Bonfire Of The Absurdities

Nov 21 11:25

Outbreak Alert: Hepatitis A Outbreak In Salt Lake City Expected To Last MONTHS - Mac Slavo

Salt Lake City, Utah is only one of three major cities in the United States experiencing a Hepatitis A outbreak. And now health officials are warning residents to protect themselves against infection, as the outbreak is expected to last for “months.”

There seems to be no end in sight for the cities grabbling with Hepatitis A outbreaks. Spurred by over-regulation and taxation, homelessness is now the norm in many US cities, Salt Lake City being no different. And Health officials in Utah now believe they could continue to see new cases of Hepatitis A for the next several months.

The first outbreak of Hep A began in back in May in San Diego, but Salt Lake City started to notice serious issues in August. Since then, at least 75 cases have been reported statewide. With at least 3-4 new cases being discovered each week. The normal amount of Hepatitis A cases is around 2-4 per year.

Webmaster's Commentary: 

This has to be more than a little terrifying for health care workers, and the people who live in Salt Lake City.

Nov 21 11:20

The Great Retirement Con - Adam Taggart

So, it’s little surprise that the 1970s and ’80s saw the introduction of personal retirement savings plans. The Individual Retirement Arrangement (IRA) was formed by the Employee Retirement Income Security Act (ERISA) in 1974. And the first 401k plan was created in 1980.

These savings vehicles are defined contribution plans. The future payout of the plan is variable (i.e., unknown today), and will be largely a function of how much of their income the worker directs into the fund over their career, as well as the market return on the fund’s investments.

Touted as a revolutionary improvement for the worker, these plans promised to give the individual power over his/her own financial destiny. No longer would it be dictated by their employer.

Your company doesn’t offer a pension? No worries: open an IRA and create your own personal pension fund.

Afraid your employer might mismanage your pension fund? A 401k removes that risk. You decide how your retirement money is invested.

Webmaster's Commentary: 

This is little more than a shuffle/hustle which gives people the illusion that they actually have real money for retirement, when they absolutely do not.

Nov 21 10:58

US Airstrike In Somalia Kills More Than 100 al-Shabab Militants

More than 100 al-Shabaab militants were killed Tuesday in the latest US airstrike in Somalia the Pentagon announced, the latest in a series of strikes against the al Qaeda affiliated group and ISIS fighters in the war-torn country meant to support the local government. The strike occurred 125 miles northwest of the capital of Mogadishu, and was the 29th such strike since the start of 2017, and 7th since November 9.

The Pentagon released the following statement commemorating the latest airstrike:

U.S. Conducts Airstrike in Support of the Federal Government of Somalia

In coordination with the Federal Government of Somalia, U.S. forces conducted an airstrike in Somalia against an al-Shabaab camp on Tuesday, Nov. 21 at approximately 10:30 a.m. local Somalia time, killing more than 100 militants. The operation occurred 125 miles northwest of the capital, Mogadishu.

Webmaster's Commentary: 

The US government is in Somalia for the same reason it has garrisoned so much of the rest of the planet; to regime-change its government to a more Western/US centric government; expropriate its resources, to which the US govenment and those corporations which own it have utterly no moral right; and to insure that these goods are only sold to countries of which we approve, and only for US dollars.

Nov 21 10:46

Nearly 200 Million People Are “Modern Slaves” or Child Laborers

According to a report by the United Nations’ International Labour Organization, nearly 200 million people are victims of modern slavery or child labor around the globe. In 2016, 40.3 million men, women and children were victims of modern slavery. Nearly one in ten children, or 151.6 million people, are victims of child labor.

The report defines “modern slavery” as “the various forms of coercion prohibited in international instruments on human rights and labour standards.” This definition includes slavery, state-imposed forced labor, forced marriage, and human trafficking. One in four victims of forced labor are children, and 71 percent of total victims are female.

On any given day in 2016, approximately 16 million individuals were forced to work in the private sector. More than half of this labor involves the domestic, construction and manufacturing sectors. On average, victims are held for 20.5 months before escaping or being released.

Webmaster's Commentary: 

Only way to get this exploitation to stop, is by naming and shaming those corporations making a killing (literally and figuratively), by exploiting child and slave labor.

Let's start with some of the most egregious examples:

10 companies which still use child labor

5 companies still using slave labor

Top 28 companies still using Child Labor

Stop Supporting Child Slavery by Avoiding these 7 Companies

Finding the names of current heads of these corporations is pretty easy; then, a polite phone call needs to be made to these people, informing them (or their executive assistants) that you will refuse to buy the products they create, because they are created with child/slave labour.

One call won't make a difference, but a number of phone calls, polite and literate in their tone, will indicate to that corporate head that there is an issue, and rethink the way it sources product. Consumers do have more power than they believe, and this is one of the areas where we can make a positive difference.

Nov 21 09:27

German giant Wintershall unfazed by sanctions: Nord Stream II is on

Wintershall wants to participate in the financing of the Nord Stream II pipeline project despite the new US sanctions. Mario Mehren, CEO of Wintershall Holdings GMBH, spelled it out.

They will transfer the next cash installment to Nord Stream II as soon as there is a request for payment.

Nov 21 09:20

‘US invaded Afghanistan to restore heroin industry’

Webmaster's Commentary: 

This narrative is very hard to hear, as someone who values peace and social justice, but this is the brutal reality of why we stayed so long in Vietnam, when the war the US was fighting was unwinnable, and why we have stayed so long in Afghanistan, when this war is also unwinnable.

This is a $1.5 trillion dollar industry, the profits from which are used to fund "off the shelf" operations for various US "alphabet soup" agencies use, over which Congress has utterly no oversight whatsoever.

It is sobering to think that the biggest drug pusher in the US ... is the US government itself.

It's about the drugs; it's about the money that is made by these drugs, and about the massive money made by laundering the money on these drugs, which large financial houses love to do.

Nov 21 08:28

Once Again NYC’s 100 Worst Landlords list looks like my Bar Mitzvah guest list

The list of NYC’s 100 worst landlords is, once again, overwhelmingly dominated by Jewish names. Naturally, I wondered whether this bar mitzvah guest list quality also applies to the list of NYC’s 100 best landlords. If it does, problem solved. We would assume that since Jews are overrepresented in the NYC rental business, they are amongst the best landlords as well as the worst.

A quick search reveals that there is no official NYC best landlord list. The Yelp search engine offers something that resembles such a list and it doesn’t approximate my bar mitzvah guest list in the least.

Since the demography of the list of NYC 100 worst landlords is obvious, the list raises the following questions:

Nov 21 08:22

BofA's Apocalyptic Forecast: Stocks Flash Crash, Bond Bubble Bursts In H1 2018, War May Follow

Having predicted back in July that the "most dangerous moment for markets will come in 3 or 4 months", i.e., now, BofA's Michael Hartnett was - in retrospect - wrong (unless of course the S&P plunges in the next few days). However, having stuck to his underlying logic - which was as sound then as it is now - Hartnett has not given up on his "bad cop" forecast (not to be mistaken with the S&P target to be unveiled shortly by BofA's equity team and which will probably be around 2,800), and in a note released overnight, the Chief Investment Strategist not only once again dares to time his market peak forecast, which he now thinks will take place in the first half of 2018, but goes so far as to predict that there will be a flash crash "a la 1987/1994/1998" in just a few months.

Nov 21 08:02

The Real Cost Of War: Three Times More Than The Government Admits

Imagine if the $5.6 trillion that it is now estimated to have been spent on 16 years of US global wars had been put to better use?

Nov 21 06:01

Black Money Projects Killing Economy, Banking for the People with Ellen Brown - Sarah Westall


Published on Nov 20, 2017Economist and Author Ellen Brown joins the program to discuss the shape of our economy. She explains how black money projects are making it impossible for the United States to balance it's books and details how our economy could be healthy if that money was returned to the people. She also discusses public banking and how that would maximize the use of our community funds and direct it's uses and profits directly to the communities.

...

You can learn more about Ellen Brown on her website at https://ellenbrown.com or at http://www.publicbankinginstitute.org/

Nov 21 03:41

2 Of 3 Investing Methods Will Leave You Short

Nov 20 15:17

Bix Weir: The “Good Guys” are WINNING

Nov 20 15:08

Goldman Sachs Says If You Thought 2017 Was Surprisingly Good, Just Wait For 2018

This has been a good year for the global economy, and 2018 will follow that trend, analysts at Goldman Sachs said.

Nov 20 14:01

The Market Don’t Want No Short People

Nov 20 11:34

The Corporate Earnings Fiction in Q3

Nov 20 10:17

Lithium – the new White Gold

Nov 20 09:55

When unpaid student loan bills mean you can’t work

Few people realize that the loans they take out to pay for their education could eventually derail their careers. But in 19 states, government agencies can seize state-issued professional licenses from residents who default on their educational debts. Another state, South Dakota, suspends driver's licenses, making it nearly impossible for people to get to work.

As debt levels rise, creditors are taking increasingly tough actions to chase people who fall behind on student loans. Going after professional licenses stands out as especially punitive.

Firefighters, nurses, teachers, lawyers, massage therapists, barbers, psychologists and real estate brokers have all had their credentials suspended or revoked.

Webmaster's Commentary: 

Oh yeah; THAT makes a lot of sense!

Nov 20 08:55

Greyerz Says One Of The Two Largest Banks In Switzerland Just Refused To Hand Over Clients’ Physical Gold. Even More Surprising Is What The Client Did Next

A 3rd Swiss Bank Refuses To Hand Over Clients’ Gold
This week I was contacted by a person who went to his bank in Zurich — one of the two largest in Switzerland — to get his physical gold out. He had seen my KWN article on the subject. The bank, one of the biggest Asset Management banks in the world, told him that he couldn’t have his own gold because of new rules within the bank.

What The Client Did Next Was Even More Surprising
But this man did not give up that easily. He asked for a letter from the bank confirming that they refused to hand his gold to him. He told the bank that he would take this letter to the police. The bank clearly got scared and after three hours wait, the gentleman was told by the bank that they would hand his gold to him. So very generous of the bank to hand the client’s asset bank to him!

Nov 20 08:18

'Losing Grip on Reality': UK Chancellor Slammed Over 'No Unemployment' Remark

UK Chancellor Philip Hammond has provoked outcry among politicians and the public alike for claiming there were no unemployed Britons in a BBC interview - although official estimates of unemployment also severely undercut the true picture of worklessness in the country.

Nov 20 08:02

Amazon Poses A Serious Threat To Freedom And Free Markets

It wasn’t until earlier this year that I became really concerned about Amazon.

Sure, I had warned people previously of the dangers of an oligarch like Jeff Bezos owning a major national newspaper like The Washington Post, and I’d also highlighted Amazon’s creepy $600 million contract with the CIA, but I didn’t truly grasp the bigger picture until recently.

Nov 20 07:53

US Quietly Builds Up Troops in Somalia

One of the many quiet escalations in countries where US military operations on the ground hadn’t really been well publicized in the first place, officials say that the US has more than doubled the number of ground troops in Somalia this year, and now have over 500 troops there.

This is the most troops the US have had in the country since 1993, when the Black Hawk Down incident killed 18 US soldiers and led to a quick withdrawal from the nation. This year was also the first year since 1993 that any US troops died in Somalia.

This escalation has involved a soaring number of US airstrikes in Somalia, not to mention a number of joint ground operations with Somali forces, mostly against al-Shabaab fighters, but many of them with very unclear goals.

Webmaster's Commentary: 

The "goals" of this escalation are entirely clear, if one knows where to look for them:

Natural resources: uranium and largely unexploited reserves of iron ore, tin, gypsum, bauxite, copper, salt, natural gas, likely oil reserves
Definition: This entry lists a country's mineral, petroleum, hydropower, and other resources of commercial importance.

You can see the words "largely unexploited"; that is the whole point;
the US government wants to get to those resources before Russia/China can lay claim to them; it is just that simple.

Nov 20 07:27

As Bitcoin Nears $8000, American Investors Plan To ‘HODL’ Until It Hits $196,000

Overnight saw the price of Bitcoin surge to $7997 following Zimbabwe chaos and defaults in Venezuela, rebounding from ‘the world is ending’ $5555 last weekend.

However, if American investors are to be believed, the cryptocurrency has a long way to go before they are selling…

Nov 19 17:30

ECB Proposes End To Deposit Protection

'covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility.'

To translate the legalese jargon of the ECB bureaucrats this could mean that the current €100,000 (£85,000) deposit level currently protected in the event of a bail-in may soon be no more. But worry not fellow savers, as the ECB is fully aware of the uproar this may cause so they have been kind enough to propose that:

"...during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request."

So that's a relief, you'll only need to wait five days for some 'competent authority' to deem what is an 'appropriate amount' of your own money for you to have access to in order eat, pay bills and get to work.

Nov 19 15:06

The two things that can pop the ICO bubble

Nov 19 14:49

America is in Terminal Decline

In 2000, the subsequent crash was 39%, in 2007 it was 54%. We are now again witnessing just such a gap, with the S&P 500 at record levels.

Nov 19 13:20

The Hidden Cost Of Electric Cars

Nov 19 11:51

Here We Go Again---Swell Numbers Which Aren't

Nov 19 11:51

Amazon Poses A Serious Threat To Freedom And Free Markets

It wasn’t until earlier this year that I became really concerned about Amazon.

Sure, I had warned people previously of the dangers of an oligarch like Jeff Bezos owning a major national newspaper like The Washington Post, and I’d also highlighted Amazon’s creepy $600 million contract with the CIA, but I didn’t truly grasp the bigger picture until recently.

Nov 19 08:28

‘Others Will Follow’: World's Largest Investment Fund to Exit Oil Stocks

Norway's Sovereign Wealth Fund, the largest investment portfolio on the planet by a wide margin, is set to divest any and all interests in the extraction, processing and sale of fossil fuels, an announcement that has stunned financial markets around the globe.

Nov 18 18:58

As Bitcoin Nears $8000, American Investors Plan To ‘HODL’ Until It Hits $196,000

Overnight saw the price of Bitcoin surge to $7997 following Zimbabwe chaos and defaults in Venezuela, rebounding from ‘the world is ending’ $5555 last weekend.

Nov 18 17:27

Thousands of people on universal credit will not receive a payment at Christmas

Thousands of low-paid people on universal credit will receive reduced payments or none at all over Christmas, in a fresh controversy about the new benefit.

The claimants will be hit because they are paid weekly and their income “will likely go over the universal credit limit”, officials say.

They will be able to reapply in January – but, it is feared, will be left without a payment from the Government over the Christmas and New Year period.

The same problem will re-occur in other months which, like December, have five paydays, because universal credit is calculated on a monthly basis.

Nov 18 15:29

As Bitcoin Nears $8000, American Investors Plan To ‘HODL’ Until It Hits $196,000

Overnight saw the price of Bitcoin surge to $7997 following Zimbabwe chaos and defaults in Venezuela, rebounding from ‘the world is ending’ $5555 last weekend.

Nov 18 13:43

Petrodollar, Recession Fears & Inflation

Nov 18 09:25

5 Big Brands That Won’t Be Around Much Longer

Nov 18 09:13

Belgian MEP blasts 'unholy' European finance ministers for EU tax avoidance firms

A BELGIAN MEP blasted the German and other “unholy” European finance ministers for refusing to crack down on tax avoidance multinationals in the European Union.

Nov 18 08:57

THE DEMISE OF DISSENT: WHY THE WEB IS BECOMING HOMOGENIZED

The systemic erosion of advert revenues for everyone other than FB and Google is evident everywhere: for example, BuzzFeed Set to Miss Revenue Target, Signaling Turbulence in Media Prospects for a 2018 initial public offering by the high-profile publisher now appear remote.

Digital publisher BuzzFeed is on track to miss its revenue target this year by a significant amount, the latest sign that troubles in the online-ad business are making it tough for new-media upstarts to live up to lofty expectations.

Nov 18 08:52

USAID AND WALL STREET: CONFLICTS, COUPS, AND CONQUEST

In 1928 when the US-based United Fruit Company – now known as Chiquita Brands International – faced labor issues in Colombia, it had at its disposal Colombian troops which gunned down hundreds of strikers to maintain production and profits.

Ensuring that Colombia protected “American interests” was the US State Department who hosted company representatives at the US embassy in Bogotá, which in turn was in contact with Washington.

The United Fruit Company’s actions in Colombia was far from an isolated incident. US Marine Corps General Smedley Butler would write a book regarding his personal, first-hand experience in fighting wars on multiple continents for oil companies, bankers, and fruit companies.

Nearly a century ago large corporate interests already possessed full control over the mechanisms of American governance, determining its domestic and foreign policy, and readily using the nation’s military might for their own personal gain across the globe.

Nov 18 08:50

Largest in 25 years delegation of Czech businessmen to visit Russia

According to Zeman, cooperation between the Czech Republic and Russia has reached the most significant level

Nov 17 18:02

Six million have credit card limits extended without consent, study warns

More than six million people have had their credit card limits increased without their consent in the last year, research from Citizens Advice suggests.

The organisation also found that consumers struggling financially were more likely to given extra credit - adding to concerns about the build-up of household debt.

Citizens Advice said lenders were "actively pushing" more borrowing without considering who could afford it.

Nov 17 16:34

Weekend Reading: You Have Been Warned

Nov 17 15:51

Amazon Poses A Serious Threat To Freedom And Free Markets

It wasn’t until earlier this year that I became really concerned about Amazon.

Sure, I had warned people previously of the dangers of an oligarch like Jeff Bezos owning a major national newspaper like The Washington Post, and I’d also highlighted Amazon’s creepy $600 million contract with the CIA, but I didn’t truly grasp the bigger picture until recently.

Nov 17 14:31

The Flames Went Higher

Nov 17 12:30

Video: France Fueled Extremism By Abandoning Poor

The French president is blaming his predecessors for fueling the rise of extremism in the country.

Nov 17 12:09

Fed Hints During Next Recession It Will Roll Out Income Targeting, NIRP

In a moment of rare insight, two weeks ago in response to a question "Why is establishment media romanticizing communism? Authoritarianism, poverty, starvation, secret police, murder, mass incarceration? WTF?", we said that this was simply a "prelude to central bank funded universal income", or in other words, Fed-funded and guaranteed cash for everyone.

Nov 17 11:38

The Next Italian Bank Threatens to Topple

Nov 17 11:35

An alarming number of shoppers are still paying off debt from last Christmas

Although survey respondents say they plan to spend roughly the same amount as they spent last year, 24 percent of shoppers say they overspent in 2016, while 27 percent admit to not making a budget at all.

Nov 17 11:34

Report Notes Dramatic Increase In Homelessness In Germany

“Whoever has no house now will not build one anymore.” As beautiful as the Rilke poem about the approaching end of the year may sound—for the homeless, the onset of winter is the worst punishment. The Federal Working Group for Homelessness (BAG W) reported this week that the homeless now number almost 1 million in Germany, approximately 860,000.

Nov 17 11:32

Buzzfeed’s revenue to fall $70M short of target

BuzzFeed’s expected IPO is now expected to be MIA.

The 11-year-old digital publisher once famous for lightweight “listicles” will likely push back plans to go public next year, as it has fallen heavily behind projected revenue growth, according to a report on Thursday.

Revenue in 2017 is expected to come in $70 million short of the $350 million target.

The BuzzFeed board, upset at revenue plans coming off the rails, convened a recent board meeting that “took management to task,” according to The Wall Street Journal (paywall), which first reported on the forecasted revenue shortfall.

Nov 17 11:32

VW to invest about $40 billion in electric cars

Volkswagen AG plans to invest around $40 billion over the next five years to develop electric vehicles, self-driving cars and Uber-like mobility app services in the clearest sign yet that auto makers are betting the future of their industry on the new technology.

Volkswagen's drive to produce electric cars and self-driving vehicles comes as the entire industry pivots from a century-old business model of building gas-powered cars for the family to producing fleets of electric cars that in just a few years are expected to drive themselves and be part of roaming robot taxi services.

Nov 17 11:25

Credit card limits 'need control'

More than a million credit card users who are struggling financially have had their credit limits increased without asking, a charity has said.

Such borrowing could make their financial problems worse, so Citizens Advice is calling for a ban on unsolicited increases in credit card limits.

It wants Chancellor Philip Hammond to include such a move in the Budget.

But providers say protection is being improved.

Citizens Advice said its research, based on a sample of 1,300 people with credit cards, suggested as many as six million cardholders may have had their credit limits put up without their consent in the last year. Some 1.4 million of those would be struggling financially.

Nov 17 10:20

Heartless Reality For London’s ‘Generation Rent’

Attila and Ildiko Wurth, of London’s Hammersmith, live in a privately rented top-floor flat in a converted house with their 15-month-old daughter and three-year-old son. The Wurth family were shocked to receive an email from the managing agent of their property, stating that a complaint had been made “that at 5.30am this morning a baby was crying and stamping and then further noise starting again at 6.45am, which woke one of the other tenants in the property.”

“We have subsequently liaised with your landlord and are instructed that we are to agree arrangements with you to vacate the property as soon as possible. Please ensure to keep all movement and noise to a minimum,” the agent added.

Nov 17 08:45

Rob From The Middle Class Economics

Much of our financial world functions as a “Rob from the Middle Class” economy. The system robs from the middle class and poor via “money printing” and inflation of the currency supply!

The rich get richer and the poor get poorer.

Nov 17 06:12

BTC Breakout - 2017-11-17

Nov 17 06:06

Tory Austerity Is ‘Economic Murder’ Linked To 120,000 Deaths – Study

Tory austerity policies may actually be killing people, according to a landmark study. The government has been accused of “economic murder” after researchers linked hundreds of thousands of deaths to cuts to public services that began seven years ago.

Nov 17 03:47

The Russell’s Record Run Of Resilience

Nov 16 17:18

The Scariest Charts That Wall Street Ignores

Nov 16 16:55

Three Strikes And You're Out!

Nov 16 16:52

Andrew Hoffman – Potential Crisis Brewing

Nov 16 16:39

China’s 10-year Yield Bumping 4%

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