ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 22 15:31

Fed Tightening And Crumbling Fundamentals Expose The Recovery Lie

This is why it is important to expose the direct relationship between Fed bubbles, Fed tightening and the collapse of the fundamentals. The central bank is deliberately creating economic crisis conditions. When chaos strikes, the Fed will attempt to obscure their dominant role in economic decline. It is our job to grab hold of their neck like pitbulls and never let them free.

Feb 22 14:50

European Oil Demand Is Shockingly Weak

Feb 22 14:48

Americans Are Drowning in Student Loans, New Household Debt Report Shows

U.S. government-sponsored student loan debt has become an escalating problem for the finances of many American households. The latest household debt report from the New York branch of the Federal Reserve indicates that Americans collectively owed $1.46 trillion in student loans at the end of 2018, more than any other category of non-housing related debt.

Feb 22 14:38

Stock Market Crash Avoided or Still Imminent?

Feb 22 14:35

Scott Adams: Putting the Phoney Debate Over “Socialism” in Context For the First Time

The debate over socialism between Bernie, AOC and the GOP
What’s wrong with socialism…besides lack of incentive?
UK and Canada have socialized medical care, why not us?

Comments at: https://twitter.com/ScottAdamsSays/status/1099014485648465920

Feb 22 12:51

What's Up With Australia's 80 Tonnes Of Gold At The Bank Of England?

Recently, news network RT.com asked for comments on the question of the 80 tonnes of the Reserve Bank of Australia's (RBA) gold reserves and their supposed storage location at the Bank of England's gold vaults in London. Based on some of those comments I made, RT has now published an article in its English language news website at www.rt.com about this Australian gold that the RBA claims is held in London.

The RT.com article, which was published on 18 February 2018, is titled "Hey UK! It's not just Venezuela, what happened to Australia's gold?", and can be read in full here on the RT website.

For the commentary, RT actually asked me quite a few interesting questions on both the Australian gold and other related gold topics. Since both the extended questions and the answers might be of interest to readers, we have decided to publish below the full set of questions and answers in Q&A format, which are as follows:

Feb 22 12:11

Pimco: Now Is The Time To Start Selling

Feb 22 09:38

Deutsche Bank Hides Massive Loss! (Bix Weir)

Feb 22 09:21

Decaying dam leaves parts of California in path of rare megastorm destruction – study

A combination of freak weather and decaying infrastructure could see dozens of cities in the Los Angeles area washed away by 20 feet of floodwater. Army engineers have pleaded with the federal government to avert a crisis.

Drought-stricken California seems an unlikely location for a flood of biblical proportions, but the US Geological Survey has repeatedly warned that a rare storm event, known as an “ARkStorm” could dump unprecedented amounts of rainfall onto the state, flooding the Central Valley, causing $300 billion in property damage and triggering the evacuation of millions of residents.

The storm is known as a ‘900 Year Storm,’ not because it happens every 900 years, but because it has a 1 in 900 chance of happening every year. A similar storm in 1861 dumped 36 inches of rain on Los Angeles and rendered it impossible to cross the Central Valley without a boat.

Feb 22 09:20

‘Germany not 51st US state’: Trade lobby blasts US interference in Nord Stream 2 gas project

Berlin must not bow to any other countries’ “dictation” on its energy policy, the head of a German trade lobby in Russia has said, as he slammed the politicization of the Nord Stream 2 gas pipeline project.

“As for issues of energy supply and energy security, Germany must not yield to dictation or influence of other countries, whether it is Russia or the US. Germany is not the 51st state of the US,” the chairman of the German-Russian Chamber of Commerce, Matthias Schepp, said in Berlin on Thursday.

Feb 22 09:18

Trump Trade War Triggering $1.9 Billion Plunge In Farm Exports: USDA

American farm exports are expected to plunge $1.9 billion in fiscal 2019, compared to the previous year, largely due to President Donald Trump’s trade war with China, according to the U.S. Department of Agriculture.

Soybean exports have been hit particularly hard, the agency’s chief economist, Robert Johansson, told the USDA Outlook Forum in Washington on Thursday, Reuters reported. Because of the trade dispute, soybean exports to China will have “plummeted by 22 million [metric] tons, or over 90 percent” through this month, Johansson said.

China has dropped to the fifth largest market for American farm exports, Johansson noted. It was the top foreign purchaser in 2017. China is buying only about 6 percent of total U.S. exports, compared with nearly 18 percent in 2014.

Feb 22 09:15

Warning: Complacency

Feb 22 09:01

Schiff: QE is Officially Debt Monetization

Feb 22 09:00

IT’S DUMB TO HAVE NO GOLD AMID ALL OF THIS

Feb 22 08:54

Interview: Ron Paul and the Never-Ending Story of Empire

Today we stand on a point in the continuum, a possible inflection point in the direction the world will go. Embrace the tired and ugly Marxist filth that destroyed hundreds of millions of people in the twentieth century (and altered the trajectory of history) or reject it whole cloth and build new institutions learning from those incalculable mistakes and horrors.

Donald Trump has revealed himself to be a two-bit, tiny man with delusions of grandeur, the blackest of hearts and bad ideas. The only thing worse than him at this point is his opposition, those that erected this edifice of corruption, filth and death.

Feb 22 08:50

Max Blumental Proves Western Media A Propagandist For War Criminals

Mainstream media coverage of Venezuela gives the impression that President Nicolas Maduro is slowly starving his own people – a narrative which, as journalist Max Blumenthal found after surveying a massive supermarket in Caracas, is wildly deceptive.

Feb 22 08:47

US imports of ‘sanctioned’ Venezuelan oil surge fivefold

Purchases of Venezuelan crude by US energy companies saw a five-fold weekly growth as of the middle of February, nearly reaching their pre-sanctions level, the latest data published by the International Energy Agency (IEA) shows.

Feb 22 08:46

Where are the ‘empty shelves’? Max Blumenthal tours Caracas supermarket (VIDEO)

Corporate media grieve for the barren shelves and empty bellies in Venezuela, but are the alleged food shortages real? After touring a supermarket in Caracas, Max Blumenthal found plenty to buy – even craft beer.
“Grocery shelves lie empty as food becomes increasingly scarce” in Venezuela, the UK Independent weeps. The country’s shops remain open but “sparsely stocked,” The Guardian laments. Even “basic commodities” such as toothbrushes aren’t available for purchase, CNN bemoans. “Hungry” Venezuelans must choose between “torture or starvation,” Bloomberg grimly concludes. Mainstream media coverage of Venezuela gives the impression that President Nicolas Maduro is slowly starving his own people – a narrative which, as journalist Max Blumenthal found after surveying a massive supermarket in Caracas, is wildly deceptive.

Feb 22 08:42

The Pension Crisis is Starting to Explode

Feb 22 07:52

Probably Nothing To Worry About....

Feb 21 18:41

Liberals, Conservatives, and Many in Between Oppose Impossible and Dangerous Stipulations in the “Green New Deal” — Naomi Wolf, Bill O’Reilly, and More

By B.N. Frank

The Green New Deal has been getting a lot of criticism from both the political left and the right.

From the left, Naomi Wolf, who has an impressive résumé as a commentator: “The Green New Deal ASTONISHES – Vast $$ for VCs, ‘New Banks’, Fed Reserve, Nat’l ‘Smart Grid’, No Oversight”...

Feb 21 16:19

$22 trillion debt? Let's spend more

The national debt crossed the $22 trillion mark this month with the same ho-hum response from the American people as when it topped $20 trillion, and $15 trillion and $10 trillion. -- Just another unfathomably huge number that keeps growing, so don't bother us about it, because it's too big to be real anyway. -- Except that it is very real, and our individual share of it is $67,501.

Feb 21 15:22

Peter Schiff: “The Real National Emergency Isn’t At The Border. It’s The National Debt!”

We are headed for a train wreck in this country because of the national debt and yet nobody seems concerned about it. In fact, many Americans have taken to emulating the federal government by getting themselves buried in massive amounts of debt as well, compounding the issue. According to Seeking Alpha‘s report by Schiff Gold, we should all we wary of the government’s overspending and desire to tax more to make up for it. Just because we haven’t suffered a crisis – YET- based on this debt doesn’t mean that one isn’t coming.

Feb 21 15:12

A Recession Indicator Having A PERFECT Record For 70 Years Is About To Be Triggered

This isn’t the only indication that a recession is creeping up on the United States. Other signs are there if you choose to look past the glassy-eyed talking heads in the media. Retail sales were so bad in December of 2018, that many say it had to be “suspect data” and not the simple fact that the economy isn’t as strong as many would have you believe. If the data was not suspect than a recession is on the way. And with retail stores closing at an alarming rate, it isn’t surprising to hear retail sales have dropped.

Feb 21 10:47

Taiwan's Leader Says Threat Of Chinese Invasion "Growing Every Day"

President Trump's at times warm, at times contentious relationship with his Chinese counterpart has been an exercise in cognitive dissonance that's reflective of a broader truth about the relationship between the world's two largest economies. The veneer of economic cooperation belies deeper military tensions as China's expansionist military aims threaten US security in the Pacific.

Feb 21 10:46

Trade Talks Update: China, US Working On 6 Memorandums As Deal Takes Shape

After a week of trade headlines that has been dominated by President Trump's insistence that talks are seeing "their most significant progress yet" and that the US has been pressing Beijing to commit to keeping the yuan "stable" to preclude any tariff-offsetting devaluations, the progress on a "memorandums of understanding" has emerged as a primary point of interest for Wall Street.

Feb 21 10:30

Where Investors Put Their Money in 2018

Feb 21 10:02

Koch-backed group offers to help Pelosi limit Trump tariff powers

Americans For Prosperity, a free-market advocacy group funded in part by the Koch network, has offered to help House Speaker Nancy Pelosi, D-Calif., pass legislation that would limit President Trump's ability to unilaterally impose new tariffs.

"[W]e hope to work with your office to advance legislation to require congressional approval of any proposed tariffs," said AFP chief government affairs officer Brent Gardner and Freedom Partners Chamber of Commerce executive vice president Nathan Nascimento told Pelosi in a letter sent Friday and made public Wednesday.

Feb 21 09:56

Downturns and Financial Crises – Sequence

Feb 21 09:45

China Warns New US Tariffs Will Be "Catastrophic" For Global Stocks

The threat of a market catastrophe has pigeonholed the US into striking a deal with Beijing, the report suggests although many are confident that the situation is flipped.

"[Trump's] words further stoked the stock markets of the US, which reached the highest in two months and so increased pressure on the Trump administration to close the deal with China," said the Global Times in an Op-Ed, adding that if the Trump team "imposes more tariffs on Chinese products while China responds with fiercer countermeasures," it would "be a catastrophic strike to global stock markets."

"In terms of avoiding such blows, the Trump administration is probably the most pressured," the Op-Ed continues. "Thus in general, by the end of the trade negotiations, China and the US have become more psychologically equal" (according to the state-run outlet). As a result, "both sides would eventually lose," the Times warned.

Feb 21 09:45

Exclusive — Sen. Marco Rubio: ‘The Chinese Effort to Supplant America Has No Precedent’

Sen. Marco Rubio (R-FL) told Breitbart News exclusively that China’s intense international push for global dominance is the biggest threat that America has ever faced, even more substantial than the one that the Soviet Union posed in the 20th century during the Cold War.

Webmaster's Commentary: 

Bad, bad, bad, BAD China! As the US let its manufacturing decline, China became a manufacturing powerhouse! How dare they. How DARE they!

Feb 21 09:41

Brexit LIVE: Chaos as UK to be blocked from MAJOR EU trade deals in event of no-deal

THE EU’s trade agreements with Japan, Algeria and Turkey will not automatically still apply to the UK in the event of a no-deal Brexit, the Government has confirmed.

The revelation was made in the latest document released by Whitehall as the UK gears up its preparations to leave the Brussels trade bloc without a deal. The Government said it was “in the process of transitioning existing trade agreements of which the UK participates as a member of the European Union”. It is hoped a total of around 40 existing trade deals will roll over after March 29 in the event the Brexit deadlock is unable to be broken.

Feb 21 09:39

US can’t ignore India: Nasscom on proposed H-1B visa curb

IT industry leaders say any H-1B visa curbs will affect US economy as it lacks skilled manpower particularly in the field of science, technology, engineering and maths

Webmaster's Commentary: 

Thank you Common Core.

Feb 21 09:22

5-Things To Do Before Retirement

Feb 21 07:59

Germany Not Interested in Anti-Russia Sanctions - Economy Minister

Europe is not interested in cutting off relations with Russia, German Chancellor Angela Merkel stated on 16 February on the sidelines of the Munich Security Conference.

German Economy Minister Peter Altmaier said in a statement that the country is not interested in the anti-Russian sanctions, as they were adopted for political reasons, stressing that it is necessary to work to change them.

"I personally think that we have no interest in sanctions", Altmaier said, adding that "we accepted these sanctions, because there were political grounds for this, repeatedly extended them. "the EU was united, but we have to work on changing political relations and arrive at other solutions".

Feb 21 07:44

JPMorgan is creating a cryptocurrency pegged to the dollar

JPMorgan Chase is developing a new cryptocurrency called JPM Coin whose value will be tied to the US dollar, the bank said on Thursday. The new private blockchain platform is designed to help large JPMorgan clients move money around the world. The new cryptocurrency will be built atop JPMorgan's Quorum blockchain technology, a variant of Ethereum that has been modified to serve the needs of a major financial institution like JPMorgan.

Webmaster's Commentary: 

Tied to the US dollar? What could possibly go wrong?

Feb 20 17:57

Supremes Deliver Smackdown on Civil Asset Forfeiture

By Jon Miltimore

The Supreme Court on Wednesday unanimously ruled that state and local governments are subject to constitutional prohibitions on “excessive fines” on citizens.

This decision will provide Americans robust constitutional protection against exorbitant fines imposed by local governments...

Feb 20 17:39

Will Tesla become the next Amazon?

Feb 20 15:06

Worldwide Economic Melt Down Now Occurring

Feb 20 14:04

NZ$950 (US$700) a week for 30 years: First-home buyers face crushing mortgages

*Can you say "bubble?"*

Auckland's first-home buyers will need to fork out up to $950 per week in loan repayments for the next 30 years based on what they're paying to get a foothold in the market.

That's according to figures by analysts CoreLogic showing there were 8350 first-time buyers in the Super City last year - accounting for one-in-four purchases across Auckland.

CoreLogic's figures also show these first home-buyers are now paying an average of $856,467 for their properties.

Community groups say the low number of buyers and daunting prices show only elites can afford to buy property now in our biggest city.

Feb 20 11:59

Asia’s Most Radical Left-Wing Economic System Faces Harsh Reality

South Korea has untaken one of the most radical left-wing economic systems out there: a steep increase in minimum wage nationwide. But now, the country must face the dire consequences of that decision and the harsh reality that the regulations are destroying their economy.

South Korea is home to one of the world’s boldest left-wing economic programs. President Moon Jae-in’s flagship economic policy, “income-led growth,” has led to dramatic increases in minimum wages since he took office in 2017. Those increases are now driving a terrifying rise in unemployment, just as a slump in global trade is already buffeting Korea. The nation is now staring an economic crisis in the face.

According to the Wall Stree Journal, it isn’t just South Korea, but they seem to be the worst stranglers of their own economy.

Feb 20 11:59

The Failing Automotive Industry Pushes Everyone Toward Global Recession

Thousands of job cuts have been announced while demand for cars is dropping and debtors are defaulting on their auto loans in record levels. The failing automotive industry could propel the globe toward a worldwide recession in the coming months.

In addition to the trade war killing demand for automobiles, thousands of job cuts have been announced as manufacturers try to stay in business. According to Business Insider, Honda, Nissan, Ford, and General Motors have announced thousands of job cuts in Europe. Jaguar Land Rover has also begun cutting jobs.

Feb 20 11:55

Deutsche Bank Discussed Extending Trump Loan Terms Over Default Fears

Deutsche Bank's PR campaign to get out ahead of whatever "Kerosene Maxine's" subpoenas might uncover led to another not-altogether-unexpected revelation Wednesday morning when Bloomberg reported more details about the German lender's efforts to distance itself from the soon-to-be president.

We reported previously that Deutsche sought to limit its exposure to Trump during the run-up to his 2016 electoral victory for two reasons: it feared the public blowback that any association with Trump's divisive campaign rhetoric might bring, and it also wanted to avoid the eventuality of Trump defaulting on a loan while in office - which would force the bank into the uncomfortable position of needing to seize the assets of the President of the United States.

Feb 20 11:54

UBS Shares Tumble As French Judge Slaps Bank With $5.1 Billion Tax Evasion Fine

In a landmark ruling that sent a clear message to other banks battling misconduct investigations in French courts, a Paris court on Wednesday found UBS guilty of having actively helped some of its wealthy French clients hide money from French tax authorities in undeclared Swiss bank accounts, and ordered the bank to pay a $5.1 billion fine. The fine represents a record sum in France, and isn't too far below the $6 billion maximum allotted by French law.

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