ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 19 09:47

BEX - Victoria's Secret's idea of sexy is becoming 'unrelatable', experts say.

 If by "experts" you mean manly-looking blue haired pussy hatted land whales with slight mustaches

Aug 19 09:34

Hooters Is Shutting Down Locations, Restrategizing After Recent Study Says Millennials Aren't That Into Boobs

Another day, another opportunity to blame millennials for the demise of... well, anything. This time, you can shit on the group for causing the potential downfall of boob-friendly bar and restaurant chain Hooters. According to a recent study from the fine folks over at Pornhub, millennials are less interested in breasts than their elders. To get specific: "Pornhub visitors between the ages of 18 to 24 are 19% less likely to search for breasts when compared to all other age groups, but visitors aged 55 to 64 are 17% more likely to search."

Webmaster's Commentary: 

There is another aspect. When Hooter's originally opened, the standard server costume was just the hot pants and the thin t-shirt, but complaints from feminists drove Hooter's to eventually add skin-colored hose, thicken the t-shirts and ad bras in most locations. Given that the food at Hooter's was never great, their business suffered because their servers were now just as dressed as servers in other restaurants. And where is the fun in that?

Aug 19 09:25

Sanctions, Sanctions, Sanctions – The Final Demise Of The Dollar Hegemony?

Sanctions left and sanctions right. Financial mostly, taxes, tariffs, visas, travel bans – confiscation of foreign assets, import and export prohibitions and limitations; and also punishing those who do not respect sanctions dished out by Trump, alias the US of A, against friends of their enemies. The absurdity seems endless and escalating – exponentially, as if there was a deadline to collapse the world. Looks like a last-ditch effort to bring down international trade in favor of — what? – Make America Great Again? – Prepare for US mid-term elections? – Rally the people behind an illusion? – Or what?

Aug 19 09:00

DEMANDING WIDE-REACHING REFORMS AND AN END TO SLAVERY, INMATES IN 17 STATES PLAN PRISON STRIKE

The Nationwide Prison Strike is planned for August 21, the day Nat Turner led an uprising of slaves in 1831, until September 9, the 47th anniversary of the Attica prison rebellion in which more than 40 people were killed.

Organizers of the action, which is endorsed by Jailhouse Lawyers Speak and the Incarcerated Workers Organizing Committee (IWOC), have released a list of ten demands for improvements to their living conditions, sentencing policies, and laws that allow for prison slavery.

"All persons imprisoned in any place of detention under United States jurisdiction must be paid the prevailing wage in their state or territory for their labor," reads the list of demands. The 13th Amendment to the U.S. Constitution allows for "slavery or involuntary servitude...as a punishment for crime whereof the party shall have been duly convicted."

Webmaster's Commentary: 

Prison labor is, unfortunately, very bound into the fabric of the US economy; if that cannot be made to change, then the conditions under which it is performed, needs to.

The American system of incarceration is engineered to fail, miserably, and it succeeds brilliantly at that failure.

One of the most current set of numbers on this indicates the following, and this is from May 2017:

"According to a report by the Bureau of Justice Statistics (BJS) about 68 percent of 405,000 prisoners released in 30 states in 2005 were arrested for a new crime within three years of their release from prison, and 77 percent were arrested within five years. May 31, 2017"

If these numbers look astonishingly horrific, it is because they are.

True rehabilitation, engineered to get the formerly incarcerated individual back into society, can work; but in US prisons, such programs are rarely instituted, and jail time, many times, leaves the incarcerated individual in worse shape than they were before they started serving their sentences.

This feeds the prison/industrial complex with people who are deliberately stuck into a loop from which they have no escape.

Aug 19 08:41

VENEZUELA IN CHAOS AFTER MADURO ANNOUNCES MASSIVE 95% DEVALUATION, NEW FX RATE TIED TO CRYPTOCURRENCY

Chaos and confusion erupted across Venezuela, and most stores were shuttered on Saturday, after president Nicolas Maduro announced that the government would enact a massive currency devaluation, implement a new minimum wage, hike taxes, and also raise gasoline prices for most citizens even as the country struggles with the greatest hyperinflation on record, surpassing even that of the Weimar Republic.

"They've dollarized our prices. I am petrolizing salaries and petrolizing prices," Maduro explained in a Friday televised address. "We are going to convert the petro into the reference that pegs the entire economy's movements."

Aug 19 08:24

‘Time to get contrarian’ on gold

Aug 19 07:16

Trump: Fewer Military Parades Means More “Jet Fighters”

On Thursday, the Pentagon announced that the parade would not move forward this year, after estimates for the events cost jumped more than 600 percent from previous proposals.
***
On Thursday, the Pentagon announced that the parade would not move forward this year, after estimates for the events cost jumped more than 600 percent from previous proposals. Officials told the Associated Press that the parade was expected to cost $92 million, up from the initial estimate of $12 million.

Trump quickly blamed the local government in Washington, D.C. for estimating the exorbitant cost>>>

(*it would be a communist conspiracy to put it towards any Domestic Urban Renewal Projects )

Aug 19 05:52

The Nasdaq Triggers Another Breadth Warning

Aug 19 05:51

5 Ways The Money System Keeps You Trapped

Aug 19 05:22

Warning: Tech Flows Are Finally Rolling Over

Aug 18 23:52

Sanctions, Sanctions, Sanctions – The Final Demise Of The Dollar Hegemony?

Sanctions left and sanctions right. Financial mostly, taxes, tariffs, visas, travel bans – confiscation of foreign assets, import and export prohibitions and limitations; and also punishing those who do not respect sanctions dished out by Trump, alias the US of A, against friends of their enemies. The absurdity seems endless and escalating – exponentially, as if there was a deadline to collapse the world. Looks like a last-ditch effort to bring down international trade in favor of — what? – Make America Great Again? – Prepare for US mid-term elections? – Rally the people behind an illusion? – Or what?

Aug 18 21:42

Venezuela's Maduro announces new minimum wage, exchange rate tied to petro cryptocurrency

Venezuelan President Nicolas Maduro has announced the plan to tie the national currency's exchange rate to the state-launched cryptocurrency petro. The country's new and increase minimum wage will also be anchored to the petro.

Maduro said the petro would be valued at $60 or 3,600 sovereign bolivars after the redenomination planned for August 20 slashes five zeroes off the national currency. The minimum wage will be set at half that, 1,800 sovereign bolivars.

"They've dollarized our prices. I am petrolizing salaries and petrolizing prices," Maduro said in a Friday televised address. "We are going to convert the petro into the reference that pegs the entire economy's movements."

Aug 18 15:18

Putin sides with Merkel on controversial Nord Stream 2 project despite US pressure

VLADIMIR Putin has vowed to work alongside Angela Merkel to complete a contentious gas pipeline which President Donald Trump has insisted will keep Germany “captive to Russia”.

Speaking ahead of bilateral talks with his German counterpart, Mr Putin insisted the Nord Stream 2 project is “purely economic”.

The multi-billion pound Nord Stream 2 will run through the Baltic Sea and supply gas to Germany and the EU.

Its construction is being funded by Russian state-owned giant Gazprom and a group of major European energy firms who say the project will help reduce carbon dioxide emissions by providing cleaner fuel to Europe.

But Washington has criticised the project for making a mockery of Western sanctions imposed after Mr Putin’s annexation of Crimea.

Aug 18 12:18

S&P Downgrades Turkey To B+, Forecasts "Recession" And "Hard Landing"

Moody's downgraded Turkey's long-term foreign debt rating to Ba3 from Ba2. Additionally, Moody's shifted the outlook to negative from watch negative.

Aug 18 10:41

WE'RE ALL LAB RATS IN THE LARGEST-EVER MONETARY EXPERIMENT IN HUMAN HISTORY

There are ample warning signs that another serious financial crisis is on the way.

These warning signs are being soundly ignored by the majority, though. Perhaps understandably so.

After 10 years of near-constant central bank interventions to prop up markets and make stocks, bonds and real estate rise in price -- while also simultaneously hammering commodities to mask the inflationary impact of their money printing from the masses -- it’s difficult to imagine that “they” will allow markets to ever fall again.

This is known as the “central bank put”: whenever the markets begin to teeter, the central banks will step in to prop/nudge/cajole the markets back towards the “correct” direction, which is always: Up!

It’s easy in retrospect to see how the central banks have become caught in this trap of their own making, where they're now responsible for supporting all the markets all the time.

Aug 18 09:59

Visualizing What the World Thinks About Waste

Aug 17 15:07

Number of 401(k) millionaires hits record

Aug 17 13:21

Four Years Into Sanctions US Still Can't End Addiction to Russian Rocket Engines

NASA is working hard to stop relying on Russian rocket engines, as said by Jim Bridenstine, the administrator of the US National Aeronautics and Space Administration.

This is a result of the new sanctions on Russia announced by the Trump administration on August 8th. The sanctions were imposed due to the alleged use of chemical weapons against Russian ex-intelligence officer Sergei Skripal in the UK city of Salisbury in March.

Aug 17 11:08

Chronic Homelessness in one of the World’s Richest Countries

Homelessness is a continuing problem for America, even though it is one of the world’s richest nations and the wealthiest country on the North American continent.

Aug 17 10:35

UNCLE SAM WANTS YOU: TREASURY DEPENDS MORE ON DOMESTIC BOND BUYERS

Keep in mind, the Fed can simply monetize the debt, if enough suckers/bond buyers can’t be found. This is similar to check kiting, but since it involves trillions of dollars, they came up with a more innocuous sounding term for the practice: Open Market Operations.

Aug 17 09:21

“Printing Money” and Cocaine

Gary Christenson wrote this article for Miles Franklin. The addictive behaviors of drug addicts are similar to the actions of a modern “Keynesian” economy addicted to “money printing” by central banks and fractional reserve banking.

Aug 17 09:13

Emerging Market Contagion

Aug 17 08:47

Recapping $TSLA's past 24 hours:

Aug 17 08:17

CEO compensation surges dramatically while average workers get no significant pay raise – report

A recent report by the Economic Policy Institute shows that top managers are getting higher compensation every year, while their employees’ salaries barely change.

“In 2017 the average CEO of the 350 largest firms in the US received $18.9 million in compensation, a 17.6 percent increase over 2016. The typical worker’s compensation remained flat, rising a mere 0.3 percent,” the report said.

“The 2017 CEO-to-worker compensation ratio of 312-to-1 was far greater than the 20-to-1 ratio in 1965 and more than five times greater than the 58-to-1 ratio in 1989.”

Aug 17 07:59

RECOVERY SUMMER, THE UN-IRONIC EDITION

Aug 17 07:28

Retail sales, Housing starts, Philly Fed

Aug 17 06:50

As Costs Rise, Pentagon Postpones Parade

(*as costs rise , or as the humiliations keep rolling in from abroad , that we're not supposed to be talking about ?)

Aug 17 04:29

Rise of US Dollar Haunts Emerging Market Debt

Aug 17 03:36

The Central Bankers Are Up To Something

Aug 16 18:06

US-based payday loan giants Curo, QuickQuid and Lending Stream who 'target British customers with up to 2,000% APR loans' could face legal action in 'bigger scandal than PPI'

Giant American payday lenders could face legal action in the UK today after they were accused of mis-selling loans to up to a million Britons.

Paydayrefunds.co.uk are preparing legal action against Quickquid, Curo and Lending Stream after the US-payday lending giants have so far refused to disclose information on customers who could be due tens of millions of pounds back in compensation.

The company issued a letter of action six months ago, which is due to run out next Friday. Paydayrefunds.co.uk revealed they have already appointed a barrister in preparation for issuing an injunction at the High Court against the lenders.

Aug 16 17:48

RBS bankers joked about crashing the US housing market and likened mortgage trading at the lender to 'organised crime'

Royal Bank of Scotland faces fresh embarrassment after it emerged its bankers joked about destroying America's housing market before the financial crisis.

A top executive in the bank's US division revealed it had sold a bundle of 'total f***ing garbage' sub-prime mortgages to investors but disguised the loans to 'look ok'.

Bankers also likened mortgage trading at RBS to 'organised crime' and discussed 'fraud that was so rampant'.

The comments came to light in documents released as part of a £3.9billion settlement with the US Department of Justice after the bank was accused of misleading investors over sales of mortgage-backed investments between 2005 and 2008.

Aug 16 15:20

Turkey Stocks, Lira Slide After Mnuchin Threatens More Sanctions

The Lira and Turkish stocks are sliding notably after Treasury Secretary Steven Mnuchin warned that Washington is preparing more sanctions for Turkey due to the lack of progress on the release of Pastor Brunson.

Following a Turkish court's refusal yesterday to release American pastor Andrew Brunson, Mnuchin warned at a White House cabinet meeting today that U.S. has more sanctions prepared for Turkey if Brunson isn't quickly released.

Additionally, as Bloomberg reports, President Donald Trump said during a Cabinet meeting at the White House on Thursday that Turkey hasn’t turned out to be a great friend to the U.S., and he complained that his administration secured the release of a Turkish citizen from an unnamed country on Turkish President Recep Tayyip Erdogan’s behalf.

“We got somebody out for him,” Trump said, from “some place,” but Turkey continues to hold pastor Andrew Brunson. It’s “not right” and a “terrible thing,” he said.

Webmaster's Commentary: 

I might suggest that Turkey's Edrogan back down here; if economic destabilization does not work, look for DC to try something more drastic.

Aug 16 15:03

Amazon eyes cinema company

Amazon is in the running to acquire Landmark Theaters, a move that would vault the e-commerce giant into the brick-and-mortar cinema industry, according to people familiar with the situation.

The company is vying with other suitors to acquire the business from Wagner/Cuban Cos., which is backed by billionaire Mark Cuban and Todd Wagner, according to the people, who asked not to be identified because the discussions are private. The chain's owners have been working with investment banker Stephens Inc. on a possible sale, the people said. No final decisions have been made, and talks could still fall apart.

Aug 16 14:45

Turkey Ready for War, Says Erdogan, US Involved in Financial Warfare against Turkey

According to the Islamist Turkish newspaper Yeni Akit quoted by Ahvalnews, President Recep Tayyip Erdo?an is ready for war.

“The secret to successful states is their readiness for war. We are ready with everything we have,” said Erdo?an on Monday in a meeting with ambassadors in Ankara.

According to reports, the US has instrumented a currency war targeted against the Turkish lira.

“Erdo?an’s comments come as the Turkish currency continues to slide against the U.S. dollar following Washington’s announcement of sanctions against Ankara this month”. Ahvalnews

The decline is indicated in the chart below (Bloomberg), from 4.85 Lira to the dollar on July 16 to approximately 5.94 Lira to the dollar on August 16.

Webmaster's Commentary: 

President Erdogan, a word, please: if one follows the injunction of Hammurabi's code, which advocated "an eye for an eye and a tooth for a tooth", one winds up with a population which is blind and toothless.

So please, let's take a step back from the brink; you cannot get your NATO brothers to stand with you against the US; you do not have the resources
or wherewithal to fight the US militarily; so the only issue with which to "fight", if one can use that word, is economic.

And on that ground, you are losing, mightily.

I would respectfully suggest that Turkish and American ambassadors start speaking with each other, to ratchet down this war of words.

In the end, this posture on your part will only serve to cause the US government to attempt more destabilization against your country, possibly by inciting your Kurdish population to revolt; and if that were to happen, what would happen to your power base?!?

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