ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Aug 03 09:58

Dominoes Start To Fall: Seattle Is First Major US City With Annual Home Price Decline Since Crisis

The nationwide housing bust is underway with the first cracks showing up in Seattle-area home prices.

The price of a Seattle single-family home in May fell 1.2% YoY, the first negative change in a major US city in this cycle, according to new data from S&P CoreLogic Case-Shiller.

"Whether negative YOY rates of change spread to other cities remains to be seen," said S&P Dow Jones Indices Director and Global Head of Index Governance Philip Murphy, in a statement.

"For now, there is still substantial diversity in local trends."

Eric Basmajian, Founder of EPB Macro Research, said an industrial slowdown has moved into real estate and is now affecting some areas in services, has the potential to create "negative wealth effect," something that most Americans haven't seen since the last recession. He warned if more cities experience negative home price growth YoY, like Seattle, this will undoubtedly put downward pressure on the domestic economy in the coming quarters.

Aug 03 09:41

This US heartland has been flooded for five months. Does anyone care?

Dating back to late February, about 550,000 acres of land have been underwater in the rural Yazoo backwater area of the lower Mississippi delta. About half of the acreage is farmland, creating devastating effects in a region where agriculture is the lifeblood of the economy. While flooding in the region is common, this year’s floodwater has hung around longer than ever.

Aug 03 09:20

Puerto Rico, Hawaii, and the Unraveling of US Empire

The results of centuries of U.S. empire, which began with Manifest Destiny that crossed the North American continent and grew into a global empire, are coming home to roost in Puerto Rico and Hawaii.

For far too long, the rules have been written for Puerto Ricans, not by them. The island has been a colony of the US for more than 100 years and was a colony of Spain before that. It is time to decolonize.

Hawaiian Independence Movement Grows

Native Hawaiians and allies are camped at the base of Mauna Kea to protect the summit of the mountain from the construction of a proposed Thirty Meter Telescope, a massive 18-story, five-acre telescope complex being built on sacred land. Mauna Kea, measured from its base, is the tallest mountain in the world and represents the birthplace of Hawaii island and the Hawaiian people. The summit is associated with a number of important gods and goddesses and is the site of numerous burial places and altars.

Aug 03 08:50

Save, Invest, Speculate, Trade or Gamble?

Aug 03 06:32

More Signs the Next Big Financial Crisis May Begin in Germany

By Lubomir Tassev

Germany, the locomotive of Europe’s huge economy, is entering a difficult period, various indicators suggest. And when the Federal Republic sneezes, the Old Continent usually catches a cold. This time, Germany may infect the rest of the world as well. Regulators in the country are busy drafting prohibitions, and now also seem to target cryptocurrencies. A German economic and financial crisis would be a seismic event of global proportions, affecting all markets. The main question now seems to be when it will happen, not if...

Aug 02 16:23

What would Milton Friedman say about Bitcoin? - Naomi Brockwell


Milton Friedman was one of the twentieth century’s most inspiring champions of individual liberty. He was the 1976 winner of the Nobel Prize in economics, and in this 1999 interview he spoke about the need for an internet currency that couldn't be tracked.

Aug 02 14:50

Why Bed Bath And Beyond Is Facing Extinction

Aug 02 14:28

More Fake Happy News About Jobs

Aug 02 11:35

Israel dodges UN blacklist despite rise in Palestinian youth killed and injured in 2018

Israeli forces killed and maimed some 2,800 Palestinian children in 2018, the highest number in years, and yet were not mentioned on an annual United Nations blacklist of armed forces that commit atrocities against youth.

Some 59 Palestinian children were killed last year and 2,756 more were injured — the highest number since 2014, according to a report by UN secretary-general Antonio Guterres that will be published this week, an advance copy of which was seen by Mondoweiss.

While Guterres called for a probe into the deaths and blasted Israel for endangering Palestinian youths, the UN chief did not embarrass Israel by naming it on his “list of shame” in the annexes of the survey.

“I am extremely concerned by the significant rise in the maiming of and injuries caused to children across Israel and the occupied Palestinian territory, including by tear gas inhalation requiring medical treatment,” Guterres said in the report.

Webmaster's Commentary: 

UN Secretary-General Guterres knows that his requests to Israel will be answered... just as soon as pigs discover that they are aerodynamic.

Aug 02 11:31

US Officials Say ISIS a ‘Global Threat,’ But Focus on Africa

US officials are continuing to emphasize that ISIS poses a “global threat,” even though it lost all its territory in Syria and Iraq. While that continues the narrative of an open-ended fight across the planet, officials are also clear the focus right now is on Africa.

It’s not clear exactly why ISIS is being chosen as the immediate focus for US anti-ISIS operations, with so much of a deal being made previously of the group in Afghanistan and Pakistan, but the US is hoping to get global support for the Africa fight.

US officials are emphasizing the substantial number of ISIS-affiliated factions inside Africa in their narrative, though of course, not all ISIS are created equal, and nowhere is that more apparent than in Africa.

Webmaster's Commentary: 

Isis is a construct of the US and Israel.

ISIS Is a US-Israeli Creation. Top Ten “Indications”

ISIS : A CIA Creation to Justify War Abroad and Repression at Home

Secret Pentagon Report Reveals the the US created ISIS as a tool to overthrow Syria's President Assad

The more quickly you can get your head around that "bit", the sooner the clarity will come about why the US government is requesting/demanding an international "response" to "the ISIS threat".

When Karl Marx made the observation that all wars are economic in origin, history keeps proving this true.

What the US and its Western powers have been doing, very concretely ever since 2001, is destabilise countries with tremendous resources (oil, natural gas, gold, platinum, molybdenum, etc.), regime change their governments; expropriating resources to which it has no moral right; and insuring that these resources are only sold for the US dollar.

Rinse; wipe; repeat.

Anyone who cannot see this pattern, in the wars of conquest against Iraq; Afghanistan; Libya; Yemen; and various other Middle East and African countries, has not been paying attention.

And when you query bing.com, about Africa's riches, here is the answer you get:
The Natural Resources of Africa, and the article goes on to state:

"Which Continent Is The Richest In Natural Resources?

Oil. It is estimated that 12% of the oil produced in the world comes from Africa.
Precious Metals. Africa has the richest reserves of precious metals such as gold, cobalt,...
Timber. Timber is an essential resource in the construction industry and furniture making.

So is it any wonder that the US is "pushing" the alleged "ISIS threat, pertaining to Africa, as a reason to invade it, and do what it has done to so many other countries around the world?!?

No wonder at all.

It is very, painfully, uncomfortable to recognise that one's government, has consistently committed war crimes, against the people with the gall who happen to live over, or adjacent to, the resources the US government wants to control; but that is the stark reality of 21st century America.

Aug 02 11:01

IBM accused of sacking 100,000 workers to appear ‘cool’ & ‘trendy’

Information technology company IBM is facing a number of lawsuits over firing some 100,000 employees to boost its appeal to younger generations and make it appear “cool” and “trendy” instead of “an old fuddy duddy organization.”

IBM, which is short for International Business Machines Corp., has been hit by several lawsuits accusing the tech giant of discrimination against older workers, including a class-action case in Manhattan and individual civil lawsuits in California, Pennsylvania and Texas.

Aug 02 10:39

Scott Adams: Racist Don Lemon, Racist Voters and Trump Derangement Syndrome

Comments at: https://twitter.com/ScottAdamsSays/status/1157290084854484997?s=20

Where are Biden voters going as his numbers drop?
Kamala acts like she doesn’t believe she belongs in the Oval Office
Her voice and mannerisms project lack of confidence
Don Lemon’s interview of Pastor Bill Owens…digging HARD for dirt
RDL Don Lemon stating his opinions as facts
If Don Lemon BELIEVES something…does that make it a fact?
“Nobody wins a trade war”…really? What’s the alternative?
In the past, we INTENTIONALLY accepted unfair (to us) deals
Is it time to stop propping up other countries at our expense?
Inner city problems are a SYSTEMS issue
Existing systems prevent money and resources from helping
Bill Pulte, is effective because his SYSTEM is effective
Most current problems are SYSTEMS and DESIGN problems

Aug 02 10:39

Mario Draghi Lays Out Plan For A Dangerous Round Of Stimulus

Authored by Hans-Werner Sinn, op-ed via The Guardian,

The outgoing ECB chief is locking his successor into a new phase of expansionary monetary policy...

We should remember that the Maastricht treaty assigned the ECB the single, non-negotiable goal of maintaining stable prices, which, if taken literally, would mean an inflation rate of zero.

Then came the euro crisis. With inflation plummeting, the ECB turned the still-tolerable upper limit for the inflation rate into its target. Suddenly, it was argued, the bank would seek to achieve inflation of “close to, but below 2%”. Draghi even went before the television cameras to claim in all seriousness that this was the ECB’s mandate.

Webmaster's Commentary: 

This was a really nasty "economic trap" which Draghi has laid for LaGarde; one has to wonder how she will able to maneuver around it, to prevent a further economic worsening in Europe.

Aug 02 10:33

China Vows To Retaliate After Fresh Tariffs: Here Is What It Could Do

Now that President Trump has boxed Jerome Powell into a corner by declaring his intention to slap tariffs on the other ~$300 billion in Chinese goods that haven't already been impacted come the first of September, it's worth considering: How will Beijing respond to all of this?

So far, Chinese media has been quiet on the subject, even as domestic markets tumble and the yuan slides. That's possibly because China's senior lawmakers have departed to the seaside resort of Beidaihe for their annual two-week policy conclave. Typically, officials from President Xi on down disappear from public view as they debate policy. But Beijing's minister of foreign trade has already made clear that Beijing is less than pleased with President Trump's latest announcement which, like the last one, took them completely by surprise (though it's not all that surprising considering that the latest round of trade talks barely lasted half a day.

Webmaster's Commentary: 

It has become painfully obvious, to anyone with a pair of eyes to see, and ears to hear, and a brain to think, that the nominal leader of the Free World, and "alleged" writer of the book, "The Art of the Deal", (ghostwritten, of course), cannot manage to negotiate his way out of a bloody paper bag!!!

If President Trump did have this capability, we would not be fighting these economic wars with China right now; and that's just a fact!!

And what concerns me most intensely, is how trade wars can morph into shooting wars, sometimes, at the drop of the proverbial hat!!!

Is there not one "adult in the room", in the Bowels of Power in DC, who is capable of thinking a scenario through to its logical conclusion?!?

Looking at the worsening, horrific messes with both US domestic and foreign policies, the blunt answer, has to be, "HELL, no!!"

Aug 02 10:24

Sea Of Red": Global Markets Tumble In Post Trump Tariff Carnage

The Fed's rate cut was supposed to boost markets and slam the dollar... it didn't quite work out that way.

One day after stocks tumbled when Powell disappointed markets with his hawkish cut - the biggest plunge for stocks on a rate cut day since the memorable 1987 - global markets swooned as a wave of selling swept across the world, as panicked traders dumped stocks on fears that trade war between the US and China is about to escalate. Add to this a fresh trade war between Japan and South Korea, and a Trump announcement on EU trade at 1:45 pm which will hang over markets, and it becomes obvious why world markets are a sea of red.

Aug 02 10:17

The World’s Most Innovative Economies

Aug 02 10:05

Next 5 Years Not About Winning But Surviving

Aug 02 09:55

Here Is What Trump's Mysterious "European Trade Announcement" Will Be About

Global markets are reeling Friday morning after President Trump announced his plan to slap 10% tariffs on the remaining ~$300 billion in Chinese imports, sparking fears that the world's two largest economies would hunker down for a prolonged and destabilizing trade war. But adding to the market's anxieties, journalists noticed an entry on President Trump's itinerary ominously titled "announcement on European trade" slated for 1:45 pm ET.

Of course, it's difficult to imagine that a president as obsessed with the stock market as Trump would delivery such a brutal one-two punch to investor confidence by, say, slapping tariffs on European autos. But without any clarification, the worst fears of analysts were left to fester.

But in a report that nearly slipped under the radar, Bloomberg has apparently learned the purpose of Friday afternoon's trade announcement. And it's far less exciting than many had feared.

Webmaster's Commentary: 

I would suggest that European beef eaters, and buyers of beef for various outlets, take great heed of information in the following articles:

5 Dangerous Substances Big Ag Pumps Into Your Meat

Harmful Chemicals in the meat you eat

What You Need to Know About The Beef Industry

These American Meat Products Are Banned Abroad

I would imagine that this is intended for the poorest of the poor, who are always considered replaceable, and irrelevant, by their respective governments; however, thinking people in Europe are going to going to providers of organic beef, and guess who is Johnny-on-the Spot to fulfill this need?!? Russia.

Russia to ramp up global organic meat market

Aug 02 09:39

Multiple Jobholders Soar To Record High As Old Americans Can't Afford To Retire

While the headline payrolls number was solid and just as expected, if a more detailed read showed some red flags (downward revisions, rising wages only due to less hours worked), one aspect of today's jobs report that will likely become a major talking point for Democrats and other critics of the Trump economy, is that the number of multiple-jobholders soared from 7.855 million in May, to 8.156 million in June, to a new all time of 8,389 million in July, a monthly increase of 233K and 591,000 higher in the past three months, which was a clear indication that the jobs number was far weaker than the headline represents if one excludes all those workers who represented two jobs to the BLS' various surveys.

Aug 02 09:38

Stock Losses Accelerate As China Warns "Temperamental" US "Will Suffer More Pain"

US equity markets are accelerating losses following confirmation, via a Chinese media op-ed, that the US-China trade war is drifting further away from a deal following Trump's new tariffs.

Full China op-ed (via Global Times)

The US on Thursday unexpectedly announced on Twitter that starting September 1 it would impose a 10-percent tariff on an additional $300 billion in Chinese goods, following the resumed high-level China-US economic and trade consultations in late July in Shanghai. Both sides said the negotiations were "constructive" and mentioned China's commitment to increase purchases of US agricultural products in their statements. It's astonishing and inexplicable that the White House changed its tune overnight and is wielding the tariff stick once again.

Webmaster's Commentary: 

What I see here, is thousands of American businesses and farmers who will be hurt on this; and they are seriously not going to forget the economic pain they have endured, courtesy of "Truponomics", in the near future.

Aug 02 09:36

Fighting Recessions: When the “Cure” Is Worse Than the Disease

By Chris Baecker

Recessions are not something to be “fought.” They are natural, healthy phenomena—the part of the business cycle when labor, investors, and management step back, take a deep breath, and reassess how resources are being used. The party’s over, the hangover sets in, and the recovery starts.

If we need to “fight” anything, it’s complacency and a government that sets out all manner of impediments that dissuade us from taking care of ourselves...

Aug 02 09:34

US Factory Orders Contract For 2nd Month In A Row As War-Spending Plunges

Having fallen for two straight months, and despite the decline of US (and the rest of the world's) Manufacturing PMIs, expectations were for a rebound in Factory Orders in June and they did, rising 0.6% (but less than the expected 0.7% MoM gain following a major downward revision for May to a 1.3% drop).

New orders ex-trans rose 0.1% in June after falling 0.03% the prior month

New orders ex-defense for June rise 1.1% after falling 0.8% in May

However, this is the second month in a row of year-over-year factory order declines.

Webmaster's Commentary: 

This economy appears to be headed to hell in a hand basket, and I seriously doubt that there is anything to be done to change that, other than declare a massive war against the usual "suspects du jure"; that .... has, historically, lifted the US out of a depression.

But the question must be, against whom will this war be fought?!? Please, not against China or Russia, as both of them still conscript; have developed some incredible weaponry, and Russia has assisted Syria in getting rid of the US trained/funded/armed jihadis.

Wait, I know: Lichtenstein!!! :-)

You are welcome, Mr. President!!

Aug 02 09:24

As US Officially Exits INF Treaty, Gorbachev Warns Of "Chaotic Developments"

The Intermediate-range Nuclear Forces treaty (INF) signed in 1987 by President Ronald Reagan and Soviet leader Mikhail Gorbachev has now officially ended, six months after President Trump issued Moscow an ultimatum to cease its alleged violations.

“Decades ago, the United States entered into a treaty with Russia in which we agreed to limit and reduce our missile capabilities,” the President said during his February State of the Union address.

“While we followed the agreement to the letter, Russia repeatedly violated its terms. That is why I announced that the United States is officially withdrawing from the Intermediate-Range Nuclear Forces Treaty, or INF Treaty.”

The clock on that timetable has just run out, with the US announcing it has ripped up the landmark agreement.

Webmaster's Commentary: 

And can anyone in the US government, please enumerate those alleged "Russian violations?!?

Can ANYONE in the US government spell out for me, just what those violations were?!?

My gut is telling me, that Americans making these accusations cannot even get close to explaining what Russia did, because, perhaps, the President and Military understand how "behind the 8-ball" the US is, even with obscene amounts of money thrown at our weapons developers, regarding the evolution of US weaponry, relative to that of Russia.

Aug 02 08:21

Stock Market Nears the Moment of Truth

Aug 02 07:42

Microsoft Says 30% of IoT Projects Fail in Proof-of-Concept Stage. Security Experts Warn IoT’s Vulnerability and 74% Failure Rate Can Cause Catastrophic Events.

By B.N. Frank

5G and The Internet of Things (IoT) may sound cool in theory but the reality is security experts have warned for many years already how dangerous it is to install and operate...

Aug 01 11:27

Samsung profits tumble as it warns of 'challenges' ahead

Samsung Electronics saw profits plunge in the second quarter as its key chip business faltered, and the firm also warned of "challenges" ahead.

The world's biggest smartphone and memory chip maker said operating profit fell 56% from a year earlier.

The results reflect a broader industry slowdown, weighed down by the US-China trade war.

The firm also faces more possible disruption to its chip business due to a trade row between Seoul and Tokyo.

The South Korean firm posted operating profit of 6.6 trillion Korean won ($5.6bn; £4.6bn) for the three months to June, a 56% drop from the 14.87 trillion Korean won posted in the same period a year earlier.

Aug 01 10:49

The Case for Abolishing Minimum Wage Laws

By Antony Davies and James R. Harrigan

Eighteen states impose minimum wages higher than the federal minimum of $7.25 an hour. Among the states, California’s $12 an hour minimum is currently the highest (the minimum wage in the District of Columbia is $13.25). States are free to set whatever minimum wage they think is appropriate. This latitude notwithstanding, the American minimum wage debate takes place on the national stage for the most part...

Aug 01 10:26

WALL STREET SHOULD BE PREPARED FOR MORE TARIFFS ON CHINESE GOODS

As Wall Street celebrates what will likely be an interest rate cut later this week, it should also sober up fir more bad economic news. The chances of increased tariffs on Chinese goods are incredibly high and some say the only way to save the economy from the trade war is to lower rates.

Analysts say that if the trade war continues, the destruction of the economy will also continue necessitating the interest rate cuts, which the Federal Reserve has stated will only go down a quarter of a point. CNBC’s Jim Cramer pointed out on Tuesday that investors should be prepared for the United States to slap another round of tariffs on Chinese imports.

Aug 01 09:56

THE STATE NEEDS AN ENEMY: WARREN WARNS ABOUT “WHITE SUPREMACIST” THREAT

Beginning in 2016, we were subjected to the absurd fairy tale of Russia, through Facebook ads, unbalancing the US election system (long rigged in favor of the political class) and the result was the victory of the execrable Donald Trump, a populist primitive and former reality TV star.

The corporate media has wasted little time along with the Democrat side of the one-party hydra associating Trump with racism, sexism, nativism—the polar opposite of the adopted identity politics control device taken on by the state—and thus manufacturing the new threat: the alt-right and white nationalism or white supremacy.

Webmaster's Commentary: 

When I was a kid in elementary school, and every time there was a test, or something to take home, where it asked for my race, I wrote: "human"!!

Yes, my ancestry is European; but does that, and should that, automatically characterise me as a "bigot"?!? I think not!!

And where did I finish my college education, before the school received its status as a University?!? That, folks, was Cal State Dominguez Hills, and if ever a campus could be described as a "rainbow campus", it would have to have been that school.

There were people who looked like me; African-Americans, Hispanic Americans, Asian Americans, and others, and we all had our eyes on the same prize, which was graduating from college in order to get a great job. There was a great energy of cooperation, and people helped each other out with more challenging subjects, and working together.

So, Senator Warren, a word, please; I am the last person you could ever, reasonably, think of characterizing as a "racist"; I volunteer for my church, conduct their choirs, and coach individuals who want to sing better. I give back through an extraordinary collaboration between our local Methodist church, and our local Catholic Church, St. Elizabeth's for a working food distribution program at our local public elementary school.

And Senator Warren, about your own struggles with your "identity", we have the following article from last February: Elizabeth Warren's Native American problem just got even worse

Let's be fact-centric, Senator, for at least one moment, please, if that is possible for you: if the DNA does not show Indigenous American Ancestry, there is none!!

Aug 01 09:54

Big Pharma Admits Measles Outbreak and Subsequent Media Hysteria Made Them Massive Profits

By Matt Agorist

On Tuesday, the pharmaceutical giant Merck said consumer demand for its measles vaccine skyrocketed thanks to the “outbreak” which helped boost sales in its second quarter...

Aug 01 09:28

Airbus profits skyrocket while rival Boeing stumbles over 737 MAX crisis

Airbus revenues soared 24 percent in the first half of 2019 to €30.1 billion ($33.6 billion), while net profit grew to €1.2 billion compared to €496 million in the same period last year, the plane maker’s chief executive Guillaume Faury said during a conference call on Wednesday.

Aug 01 09:13

THE PENTAGON SPENT MILLIONS ON VULNERABLE CHINESE TECH IN 2018, WATCHDOG SAYS

SOURCE: NEXTGOV
The Pentagon last year purchased thousands of Chinese tech products that contained known cybersecurity vulnerabilities, and officials have yet to enact policies to stop it from happening again, an internal watchdog found.

In 2018, the department bought more than 9,500 commercial printers, computers and cameras despite warnings that adversaries could use the products to infiltrate networks and spy on personnel, according to an inspector general audit. The procurements, which totaled roughly $33 million, expose significant shortcomings in the department’s supply chain security policies that persist to this day, auditors said in a redacted report published Tuesday.

Specifically, the Army and Air Force purchased more than 8,000 printers from Lexmark and 1,500 computers from Lenovo, two Chinese companies that national security officials previously linked to the Communist Party’s espionage operations.

Webmaster's Commentary: 

The question I have to ask, is why did this keep happening, when the Pentagon knew that there were known vulnerabilities in this equipment?!?

What's wrong with this picture?!?

Bloody Everything!!!

Aug 01 08:49

BIG PHARMA ADMITS MEASLES OUTBREAK AND SUBSEQUENT MEDIA HYSTERIA MADE THEM MASSIVE PROFITS

OURCE: MATT AGORIST @ THE FREE THOUGHT PROJECT
(Support Free Thought) - Since the beginning of the year, the Free Thought Project has been reporting on the hysteria associated with the measles outbreak and the subsequent loss of liberties and police state crackdown that’s ensued. We’ve seen children banned from public spaces, mandatory vaccinations enforced with police action, and a pro-vaccine push in the mainstream media like we’ve never seen before. In May, the pro-mandatory vaccine push reached a new level, as the Washington Post published an article calling for the arrest of those who choose not to vaccinate. Now we are seeing the result of said hysteria and it comes in the form of massive pharmaceutical industry profits.

On Tuesday, the pharmaceutical giant Merck said consumer demand for its measles vaccine skyrocketed thanks to the “outbreak” which helped boost sales in its second quarter.

Aug 01 08:47

Proxyclick: Customers Will Be Impressed When Businesses Use Facial Recognition To Identify Them

By MassPrivateI

Leave it to facial recognition companies to make up a totally bogus claim that makes me want to slam my foot in a door.

The access management company Proxyclick claims that businesses who use their ID Match (facial recognition) will impress customers...

Aug 01 08:30

As Tensions Flare Between US & Iran, More Oil Tankers Are 'Going Dark' In The Strait Of Hormuz

Given the rising tension in the Strait of Hormuz, and the mysterious spate of seemingly random attacks on tankers that some have blamed on Iran, it's no surprise that more captains transporting shipments of crude and LNG through one of the busiest corridors for the global energy trade feel the need to keep a low profile, according to Bloomberg.

Which is apparently why more ships are turning off their transponders - "going dark", in industry jargon - a technique that is typically used by smugglers and those hoping to avoid American sanctions.

Webmaster's Commentary: 

It will only be a matter of time before the US interdicts one of these ships, and claims that it was carrying Iranian oil, and that they went dark to evade the sanctions.

I would like those preciously few "adults in the bowels of DC", to be very careful about what the US does, in such a circumstance, given that Russia has promised that should Iran be attacked, Russia will come to its aid.
Iran ‘Won’t Be Alone’ If U.S. Attacks, Russian Official Says

The article went on to state: "“Iran will withstand this type of fight and Iran is not alone,” Zamir Kabulov, the Foreign Ministry’s special envoy for Asian countries including Iran, said at a Russian-Iranian policy forum in Moscow.

When asked if Russia was ready to provide material support to Iran if the U.S. attacks it, Kabulov said that “specific actions are a question for the Russian president.”

Folks, the US government is playing with fire, if they have swallowed their own moonshine Koolade, about the superiority of US weapons over those of Russia or China; the capabilities of US weapons is still, unfortunately, very much lagging behind those of their Russian and Chinese counterparts.

The more President Trump presses his sanctions, the more unpredictable the responses from Iran may become.

There are two "toys" not currently in this President's toy arsenal, and those "toys" are "caution" and "restraint."

I would like to hope that someone in this administration is willing mention them to the President.

Aug 01 08:16

Peter Schiff: "Either [Powell] Is Lying, Or He's A Complete Idiot

Via SchiffGold.com,

The Federal Reserve cut interest rates for the first time in over a decade Wednesday. And Jerome Powell left the door open for future cuts.

Peter Schiff broke it all down on his most recent podcast, saying this is the first interest rate cut on the short road to zero.

Of course, when the Fed pivoted to the “Powell Pause” last December, most analysts weren’t expecting a rate cut down the road. And here we are.

Peter Schiff predicted all of this. During his podcast, Peter called this the first step on the road to zero. And he said it was going to be a pretty short road.

Aug 01 08:13

R.I.P. Economic Cooperation 1944-2018

Aug 01 06:57

US Farmer Crisis: China's US Soybean Purchases Plunge To 2004 Lows

A new report from Bloomberg shows US soybean exports to China collapsed in 1H19 to the lowest level in more than a decade.

The US exported 614,806 tons of soybeans to China in June, according to US customs data. That brought 1H19 China imports of soybeans from the US to 5.9 million tons, the lowest level since 2004, according to Bloomberg calculations.

Webmaster's Commentary: 

The farmers in this country looked to Candidate Trump to become their economic saviour; unfortunately, because of how President Trump has chosen to play the economic trade game" with China, concerning agricultural products, he has now become their worst economic nightmare.

Aug 01 06:51

10Y Treasury Yield Plunges Below 2.00% As Curve Collapses

This is not what The Fed's "insurance" rate-cut was supposed to do...

10Y Yield has just tumbled back below 2.00% (for the first time since July 5th)..

And the yield curve - wherever you look - is collapsing...

In other words - the bond market is screaming - "Policy Error!!"

Webmaster's Commentary: 

This absolutely does not bode well for a true economic recovery in this country.

Aug 01 01:06

July 31, 2019 FRB lowers rates

Jul 31 12:02

GM Begins Closing 78-Year-Old Michigan Plant, Laying Off 335 American Workers

Multinational automaker General Motors (GM) has started closure of its Warren, Michigan, transmission plant, which has been up and running for 78 years, resulting in the immediate layoff of about 335 American workers.

Jul 31 11:05

BREAKING Federal Reserve Cuts Rates

Jul 31 11:03

The Economy Is Starting To Implode

Regardless of the Fed Funds rate policy decision by the FOMC today, the economy is spinning down the drain. Lower rates won’t help stimulate much economic activity. Maybe it will arouse a little more financial engineering activity on Wall Street and it might give a temporary boost to mortgage refinancings. But the economic “recovery” of the last 8 years has been an illusion based on massive money printing and credit creation. And credit creation is de facto money printing until the point at which the debt needs to be repaid. Unfortunately, the system is at the point at debt saturation. That’s why the economy is contracting despite the Fed’s best efforts to create what it incorrectly references as “inflation.”

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