ECONOMY | WHAT REALLY HAPPENED


ECONOMY

May 27 04:53

Homeless Crisis in Los Angeles Worsens

Nearly 554,000 people were living on America's streets last year, according to a government survey. That's the first increase since 2010, driven, experts say, by a surge in the homeless in Los Angeles and other West Coast cities. Homelessness has been a serious problem for Los Angeles for years, but as the housing crisis intensifies, it seems to have gotten worse. Some say it's time to cut municipal funding for the homeless, but others want to help.
Note: Israel receives over 10 million dollars a day and they want more. Some of these homeless are veterans!

May 26 15:37

STUDENT LOAN DEBT SLAVERY

May 26 09:55

A Fresh Look at Lumber and Housing Stocks

May 26 09:45

Saudis Halt Orders From German Companies; Crown Prince "Deeply Offended"

Well this is going to hurt: Der Spiegel reports that Saudi Crown Prince Mohammed bin Salman has ordered that all government contracts cease being awarded to German companies in what's being interpreted as an aggressive punitive measure after a year of already deteriorating Saudi-German relations and as Germany has expressed its plan to stick by the Iran nuclear deal.

May 26 09:44

A Summer Of Disappointments Will Lead To An Extended Economic Crash

The summer season is often about renewed hope and revelry in comfort, and this goes for economic comfort as much as anything else. In parallel to the old tale of The Ant And The Grasshopper, we are all tempted to act like the grasshopper, forget about the trials and tribulations of the world and take a vacation from awareness.

I am seeing quite a lot of this in the past month as mounting global tensions appear to have subsided. But appearances can be deceiving...

May 26 09:27

GAME ON: THE NEW STRATEGY OF THE U.S. AND ITS ALLIES IN THE MIDDLE EAST

Bad management, corruption and a failure of the Joint Comprehensive Plan of Action to generate expected levels of foreign investment compound the problem.

May 26 03:45

Riskiest Junk Bonds Still Blissful in La-La Land, High-Grade Bonds Bleed. Apple’s Fault?

The Fed will keep tightening until these junk bonds buckle.

May 25 15:54

Tough (NZ) rules see migrants give up and go home

Some frustrated migrants are giving up and going home because they say new rules make it harder to work and stay in New Zealand.

In the year to April, more than 30,000 non-New Zealand citizens who had been here on a permanent or long-term basis left this country - up 23 per cent on the year before, according to Statistics NZ.

As a result, annual net migration is down 4800 from a high point a year ago.

Most were temporary migrants who arrived on student and work visas, experts believe.

Immigration policy changes introduced last year have made it harder for temporary migrants to gain residency.

May 25 14:31

The Ludlow massacre, 1914 - Sam Lowry

The history of the Ludlow Massacre of striking coal miners, which was one of the most brutal attacks on organised labour in North American history. It was the pinnacle of efforts by the National Guard and local strike-breakers under the command of the Rockefeller family to suppress a strike of twelve thousand workers.

May 25 12:27

LME Plans To Launch Yuan-Denominated Metals Futures Markets

In a sign the currency’s status in international finance is on the rise, and just a few short weeks after China unveiled its Yuan-denominated oil futures contract, the CEO of the London Metal Exchange has confirmed that it is planning to introduce yuan-denominated metal products.

May 25 10:41

IS IT 1999 ALL OVER AGAIN?

May 25 09:55

Mother Nature sets new snowfall record in central Newfoundland

Webmaster's Commentary: 

So much for the "Warmistas" insisting that "snow is a thing of the past!!"

May 25 09:41

TIME TO END FOREIGN AID TO ISRAEL (AND EVERYONE ELSE)

In a genuinely free society (as compared to an unfree society that only purports to be free), people keep their own money and decide what they wish to do with it. Some donate to this cause, others donate to that cause, and some don’t make any donations at all.

That was one of the basic principles of freedom on which the United States was founded. Our American ancestors decided that this would be a society in which there would be no income taxation or IRS. Thus, for more than 100 years, the American people were free to keep everything they earned.

By the same token, no one was forced to share his income with others. In other words, no mandatory charity. That’s because our American ancestors believed that no one should be forced to be good and caring. If donations were to occur, they would have to come voluntarily and willingly from the income that people were free to keep.

May 25 06:24

Bubble In Search Of A Pin

May 25 06:11

Proof That Central Bank Fiat Currency Is Dying

Banks are preparing for the worst, Deutsche bank is now going to layoff 10,000 workers and this number might go even higher. Other banks will follow. New home sales decline as interest rates increase.

May 25 05:33

Why America Is Heading Straight Toward The Worst Debt Crisis In History

Today, America is nearly 70 trillion dollars in debt, and that debt is shooting higher at an exponential rate.  Usually most of the focus in on the national debt, which is now 21 trillion dollars and rising, but when you total all forms of debt in our society together it comes to a grand total just short of 70 trillion dollars.

May 24 18:09

Rising Shipping Costs Threaten Stocks

May 24 16:01

America’s Economic Anarchy

America is severely struggling despite the dishonest and incurious mainstream media narrative of a booming economy rife with economic growth. The economy is barely chugging along. Anarchy is the new financial reality for millions and millions of American households. The crash will come hard. The fall will be swift. And the majority will be taken aback at how this all came to be despite the many points I laid out above.

May 24 15:30

Europe could spend up to £440 million on KILLER ROBOTS that can go to war without human help

The European Union could spend up to £440 million ($590 million) on killer robots that wage warfare without the need for human assistance.

Officially known as Lethal Autonomous Weapons (LAWs), the robots use artificial intelligence to target and kill enemies without human involvement.

Brussels has decided to allow bankrolling of the controversial machines through the EU defence fund despite MEPs' attempts to bar LAWs from the kitty.

The parliament had wanted to block EU subsidies of the weapons but conceded in talks on Tuesday in order to strike a compromise, two sources who were in the room told the EUObserver.

May 24 15:20

How Sustainable Is Earnings Growth?

May 24 13:49

We’re No Longer Living In Refi Paradise

May 24 13:05

Russia Finance Minister: We Are Ready To Ditch The Dollar In Favor Of The Euro

The common theme here is that Trump's sanctions against Russia - with which he is supposedly colluding - not only work, but are very effective in achieving their goal. And they do so though the biggest weapon the US has: access to the world's reserve currency, because with one phone call to SWIFT, Trump can lock out an entire nation.

So what alternatives is Russia planning, aside of course from increasingly closer trade, financial and monetary ties to China, which renminbi many speculate is only a matter of time before it replaces the USD as the world's reserve currency?

Addressing precisely this issue, Russia's Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum that settlements in US currency could be dropped by Russia in favor of the euro. That said, Russia would only engage in such an unprecedented transition under one condition: if the EU takes a stand against the latest US sanctions on Moscow.

Webmaster's Commentary: 

Putin is playing this beautifully!!

May 24 12:53

European Banks Are In Trouble, It Will Spread Like A Disease

Blockchain is going to revolutionize many industries, one in particular is going to be the precious metals market. Sears is closing more stores and Victoria Secrets/Pink are reporting a slowing in growth.

May 24 12:42

Trump signs the biggest rollback of bank rules since the financial crisis

President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday.

The measure designed to ease rules on all but the largest banks passed both chambers of Congress with bipartisan support. Backers say the legislation will lift burdens unnecessarily put on small and medium-sized lenders by the Dodd-Frank financial reform act and boost economic growth.

Opponents, however, have argued the changes could open taxpayers to more liability if the financial system collapses or increase the chances of discrimination in mortgage lending.

May 24 12:35

IRAN LISTS 7 CONDITIONS TO REMAIN IN NUCLEAR DEAL

In his first statement since Pompeo's Wednesday speech, Iran's Supreme leader Ayatollah Ali Khamenei set 7 conditions for the European nations if they want Tehran to remain in the agreement.

Khamenei laid out the full list on Twitter on Trump's favorite social media network, remainder of continued on twitter where in a brief tweetstorm, he unveiled the following demands of Europe:

Over the course of 2 years, US violated #JCPOA, several times, while the Europeans remained silent. These 3 European countries should prove that they won’t be as dishonest & untrustworthy as they were during nuclear talks in 2004-2005. Europe needs to compensate for it:
The US has violated Resolution 2231. Europe must issue a resolution against US’s violation [of it].
Europe must guarantee it will not raise the issue of the Islamic Republic's missiles and regional affairs.

Webmaster's Commentary: 

Translation; Europe will not be allowed to acceed to Iran's demands by the US government, meaning that the Iranians will shortly go back to uranium enrichment, which will then be used as the "justification" for a war against it by the US, Israel, and Saudi Arabia.

But this will not happen until Israel uncorks in Lebanon against Hezbullah, and accomplishes "regime change" there, to achieve a more "Israeli-centric" government in Beirut.

So we have, maybe, a couple of months or more, before that happens, and then, the major world war against Iran happens. Look at the attack against Lebanon to come either right before, or right after, the High Holy days in Israel, Rosh Hashana, and Yom Kippur, which are celebrated in September of this year.

June 1st is already upon us week; So watch for 3 months of intense demonisation of Lebanon; Iran, and Russia in the next three months, leading up to an Israeli first strike on Lebanon.

But the big issue in all of this, with Russia having historically claimed that it will defend Iran should it be attacked militarily, is, when Iran is attacked, what will Russia's Putin actually be willing to do to defend it?!?

And lastly, here is a link to Ynetnews.com, with an article which is more than a little unsettling:


Israeli Security Cabinet now authorized to declare war

What makes this chilling, is the reality that now, only a handful of Israeli politicians have the power to wage war, in which the Knesset has utterly no voice whatsoever.

May 24 11:48

Someone Has Infected At Least 500,000 Routers All Over The World And No One Knows Why

Unknown hackers have reportedly infected at least 500,000 routers and other network devices all over the world with sophisticated and potentially destructive malware—and the Ukrainian government believes Russian hackers may use this botnet in an attack ahead of the Champions League soccer final this week in Kiev.

On Wednesday, Cisco’s subsidiary Talos warned of this new malware campaign, dubbing it “VPNFilter” because that’s the name of the folder where the malware creates and installs itself on the infected devices. Talos researchers wrote that VPNFilter’s most dangerous feature is that it can make the devices it lives on completely unusable thanks to a “kill” command.

“If it suited their goals, this command could be executed on a broad scale, potentially rendering hundreds of thousands of devices unusable, disabling internet access for hundreds of thousands of victims worldwide or in a focused region where it suited the actor's purposes,” the Talos report read.

Webmaster's Commentary: 

How convenient; just when Russian/US governmental relations could hardly get any worse, it appears that Russia is going to get accused of a "cyber 9/11" against Ukraine and potentially beyond.

Now is the time to make sure your router is secure, and if you have not changed your default password, do it now.

May 24 11:21

Fragile: Pentagon report raises alarm that US industry can’t support war for much longer

Between globalization and nearly 20 years of constant warfare, the industrial part of the US military-industrial complex is not looking so good, putting future wars at risk, according to a new Pentagon report.

The Annual Industrial Capabilities report, published by the Pentagon’s Office of Manufacturing and Industrial Base Policy, warns that reliance on foreign-sourced materials combined with “twenty years of intermittent conflict,” have put a strain on US manufacturers of weapons, parts and ammunition.

“While US national defense demands for materials are seldom unmet, there exist risks to their supply now and risks are anticipated in the foreseeable future,” the report says, describing the two broad trends as the scarcity of materials used in new technologies and the US’ growing reliance on foreign supply sources.

May 24 10:54

FEDERAL RESERVE: MORE THAN 4 OUT OF 10 AMERICANS DO NOT EVEN HAVE ENOUGH MONEY TO COVER AN UNEXPECTED $400 EXPENSE

The U.S. economy is not doing nearly as well as the mainstream media would have you believe. A few days ago I wrote about a new study that discovered that nearly 51 million U.S. households “can’t afford basics like rent and food”, and just yesterday I discussed the fact that we are on pace for the worst year for retail store closings ever. Now we have just gotten new numbers from the Federal Reserve which are absolutely staggering. According to the Fed’s latest study, more than 4 out of every 10 Americans do not even have enough money to cover an unexpected $400 expense without borrowing the funds or selling something. In essence, nearly half the country has no significant financial cushion whatsoever. So what are all of those people going to do when the next economic crisis hits?

Sadly, living on the edge has become a daily reality for tens of millions of Americans. The following is from a CNN article about the Fed’s new report…

Can you cover an unexpected $400 expense?

Webmaster's Commentary: 

For far too many Americans, this alleged "economic robustness/recovery" (call it what you will) has not arrived at all, and particularly for hourly salaried people, who are seeing their wages get throttled though inflation and ever-higher taxes.

Mike and I were at a local supermarket yesterday, and I was looking at the fish counter. One particular type of tuna was selling for nearly $27.00 per pound, and all the prices seem to have jumped through the roof.

I do not know how families are making it, unless one of the two partners came from roots where slow cooking of cheaper cuts of meat, to make them very tender, was the way things were done.

May 24 10:50

Living in the Tunnels of NYC

May 24 10:48

Where the Debt Slaves Are the Most Vulnerable

I’m shedding a different light on consumer debt.

May 24 10:11

Silicon Valley tech bubble is larger than it was in 2000, and the end is coming

In case you missed it, the peak in the tech unicorn bubble already has been reached. And it's going to be all downhill from here. Massive losses are coming in venture capital-funded start-ups that are, in some cases, as much as 50 percent overvalued.

May 24 09:59

Margin Debt And The Market

May 24 09:34

City heavyweight Deutsche Bank to slash 7,000 jobs - with axe expected to fall hardest on London and New York in major restructure

The German-headquartered bank said it will cut its workforce from 97,000 to 'well below' 90,000, with many of the jobs facing the chop being in London or New York.

It said the cuts are already underway and will ultimately result in the headcount in its trading business being reduced by about 25 per cent.

May 24 09:30

Leading indicator-Another historic topping pattern?

If history is any guide, the broad market DOES NOT want to see the Home Construction Index and Lumber start heading lower from these key levels!

May 24 09:14

Russia ready to ditch dollar in favor of euro in foreign trade – finance minister

Settlements in US currency could be dropped by Russia in favor of the euro if the EU takes a stand against the latest US sanctions on Moscow, Finance Minister Anton Siluanov said at the St. Petersburg International Economic Forum.

“As we see, restrictions imposed by the American partners are of an extraterritorial nature. The possibility of switching from the US dollar to the euro in settlements depends on Europe’s stance toward Washington’s position,” said Siluanov, who is also Russia’s first deputy prime minister.

May 24 08:58

Almost 95% of French SNCF Rail Employees Reportedly Vote Against Company Reform

The French government’s reforms of state-owned railway operator SNCF was rejected by 94.97 percent of the company’s employees who had participated in a non-binding vote on the reform, Franceinfo news outlet reported on Wednesday.

According to the media, which cited Laurent Brun, the secretary-general of the CGT-Cheminots trade union, that 91,000 railroad workers had participated in the vote, organized by the major trade unions of the SNCF. This number stands for almost 62 percent of the company’s workers.

May 24 08:56

Russian Aluminum Giant Rusal Announces Resignation of Top Executives

"Alexandra Bouriko, the CEO of the Company, has tendered her resignation as the CEO with effect from 23 May 2018. Ms. Alexandra Bouriko has confirmed that she does not have any disagreement with the Board," the company said in a press release.

Rusal said Evgeny Nikitin has been appointed by the Board as her replacement until a new chief executive is chosen.

The company’s executive directors, Vladislav Soloviev and Siegfried Wolf, said they would stand down on June 28. Non-executives Maxim Sokov, Dmitry Afanasiev, Gulzhan Moldazhanova, Olga Mashkovskaya and Ekaterina Nikitina also tendered their resignations effective next month.

On May 2, the US Treasury issued a guidance related to Russia's Rusal and En+ Group, saying the United States could reverse sanctions on the companies if Oleg Deripaska cedes control of the companies.

May 24 08:55

Braking point: Elon Musk’s Tesla Model 3 lurching from one crisis to the next

The beleaguered Tesla Model 3 has already faced a production crisis and a 123 percent price surge. Now it has another major problem – a report says the car brakes slower than a pick-up truck.

The problem was pointed out by the US magazine Consumer Reports, which exposed the alleged braking issue with the Model 3 sedan.“The Tesla’s stopping distance of 152ft from 60mph was far worse than any contemporary car we’ve tested and about 7ft longer than the stopping distance of a Ford F-150 full-sized pickup,” it wrote.

May 24 08:34

The vultures of Venezuela

As we are bussed through Caracas to the airport, vultures perched on lamp posts on the concrete banks of the Rio Guaire remind me of a T-shirt I had in high school. The T-shirt featured two vultures in a tree. One addresses the other: "Patience my ass, I'm gonna kill something."

The vultures hanging around what's essentially a concrete drainage ditch through the capital might represent moneyed interests both inside and outside Venezuela. The country is a treasure trove of petroleum and minerals, and while the socialist government has made many mistakes, it doesn’t seem poised to fail anytime soon. And some vultures just can't wait. Sanctions and an infowar by corporate media, parroting the neoliberal party line, have turned Venezuela into an economic warzone.

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