ECONOMY | WHAT REALLY HAPPENED

ECONOMY

May 30 17:17

Demand Full Impeachment of Ginny Burdick and Jeff Kruse

Measure 91 aimed to end prohibition of marijuana for adults over 21 and end a war on the civil liberties of many. This was the intent of the 56% of voters. Senator Burdick and Kruse are using this monumental opportunity for the state to further unethical treatment of medical patients and perpetuate the failed War On Drugs in a manner inconsistent with their voter base. It time we take action together and stand against this tyranny.
HERE! HERE!

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May 30 16:19

A Recession Within A Recession: Most People Can Look Around And See That Economic Conditions For Most Americans Are Not Good, And Now They Are About To Get Even Worse.

On Friday, the federal government announced that the U.S. economy contracted at a 0.7 percent annual rate during the first quarter of 2015. This unexpected shrinking of the economy is being primarily blamed on “harsh” weather during the first three months of this year and on the strengthening of the U.S. dollar.

May 30 16:09

Bubble After Bubble, They All End the Same!

May 30 15:50

GDPhriday – QE Doesn’t Work, Now What?

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May 30 12:33

Cashless Control Grid: 25% of Australians Would Get a Chip Implanted in Them to Pay for Stuff

Think we’re being tracked and traced now? Why would you be interested in not only taking the mark but for a cashless control grid in the modern era of corruption we find ourselves swimming in? This is not only trusting to the point of idiocy, it’s literally voting for one’s own enslavement.
(read more)

May 30 12:10

UK benefit cap may push 40K kids into poverty: Leaked memo

Tens of thousands of British children may be pushed into poverty by the UK government’s bid to lower the household benefit cap, a leaked memo to ministers shows.

Ministers claim that changes to the cap included in the upcoming employment and welfare benefits bill will bring fairness for the taxpayer while still offering support for those most in need, the UK-based daily Guardian reported Friday. However, according to the newspaper, an internal government estimate shows if parents are not able to find extra work, the policy will place 40,000 additional kids on or below the official poverty line.

May 30 12:09

Pentagon Spent $176Bln to Create Jobs Overseas Instead of US

The US Department of Defense has spent $176.8 billion over the past eight years buying foreign imports through more than 307,000 waivers to the Buy American Act, US Senator Chris Murphy aid in a press release published on Thursday.

Webmaster's Commentary: 

How's your job search going?

May 30 12:06

UK banks involved in FIFA scandal

British banks have allegedly been party to corrupt transactions worth millions of dollars linked to FIFA, according to legal papers from the US Department of Justice (DoJ).

Barclays and HSBC were named in the papers after the US DoJ noted millions of dollars linked to the corrupt football organization had been moved through their accounts.

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May 30 11:22

Bank Head: Islamic banking in Russia may ease effect of sanctions and help attract capital from Arab Countries

Herman Gref, the head of Russia’s largest bank Sberbank, welcomed the introduction of Islamic banking in the country’s traditionally Muslim regions, saying it would help attract capital from Arab countries. "We will actively promote the development of such a tool as Islamic banking, as it opens up a good opportunity to work with international partners amid sanctions," said Gref on Friday at a shareholders meeting.

May 30 10:57

More Weight Added To Equity Bear Case

May 30 10:01

So. Calif Man Gets $18,741 Water Bill even after installing astroturf on his lawn

When he challenged the amount of both bills, the Los Angeles Department of Water and Power (LADWP) told him to pay it or his water and power would be shut off. The LADWP has declined request for interview.

May 30 09:05

CA Senator Introduces Traffic Ticket Amnesty: "They've got to pay for food for their kids or shelter. The punishment doesn't fit the crime!"

CA State Senator Bob Hertzberg has introduced SB 405, an amnesty for unpaid infraction and misdemeanor violations. The bill has successfully moved through the state legislature. Kudos to Senator Hertzberg, who should be applauded for introducing this merciful and common-sense legislation. In Senate testimony, he stated, in part, "This is one of those bills that's personal to me. It's one of those things that really gets under my skin. Because what we've done in the government as we've faced these difficult budget choices .. is we've given authority, and I was a culprit in some of this stuff many years ago, to simply add fees to everything. ..Well what we learned from that process ..that we're really not collecting much money.. and two that we are dramatically impacting peoples lives and charging somebody $800 for a jaywalking ticket or whatever it is, and they immediately lose their license because they miss a court appearance on matters that don't relate to public safety issues.

May 30 08:35

Bank of America fined $30m by US for debt collection

Washington: Bank of America has been fined $30 million by US regulators, who accused the bank of violating consumer protections for members of the military in collecting debts.

May 30 08:34

When it can be illegal to withdraw your own money

It's your money, in your account, but that doesn't mean you can take it out any way you please.

Failure to report large cash transactions can often trigger federal investigations, leading to fines or even lengthy prison sentences.

It all stems from U.S. law that requires forms to be submitted—both by financial institutions, as well as bank customers—each time a cash transaction in excess of $10,000 occurs. Customers hoping to avoid having to disclose such transactions often seek ways around around the law in a process known as "structuring," which can lead to serious money laundering charges.

Webmaster's Commentary: 

When the government forces you to keep your money in the bank, they are forcing you to be an accessory to the crimes committed by that bank!

May 30 08:24

CA Senator Slams Punitive Traffic Fines to Peers In State Legislature: "Why do we have to be such money grubbing legislators??!!"

A CA Republican State Senator joined Democrats in delivering a scathing bipartisan indictment of California's traffic ticket revenue schemes, during a Public safety Committee hearing last month. The hearing, which until now went largely unnoticed, had mainline Democrats and Republicans sounding shockingly like libertarians, criticizing and condemning an out of control corrupt government. Sen. Joel Anderson said "let's just reverse some of the funding that we put on the backs of hard working Californians who are trying to make a living, who are trying to do the right thing, and not just focus on the poverty-stricken, because many of these folks are just one step out of poverty and yet we're doing nothing for them. And that is not right because we should be doing this for everyone."

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May 30 06:05

IRS is Hacked! Information of 100,000 is Compromised

The IRS said Tuesday that thieves used an online service provided by the agency to gain access to information from more than 100,000 taxpayers. The information included tax returns and other tax information on file with the IRS.

May 30 02:43

'Now, we have a democratically elected totalitarian government' — Arundhati Roy

“How have the other ‘developed’ countries progressed? Through wars and by colonising and usurping the resources of other countries and societies,” she says. “India has no option but to colonise itself.”

May 29 19:41

CA Senator Introduces Traffic Ticket Amnesty: "The punishment doesn't fit the crime!" We must "fix this injustice in the system"

CA State Senator Bob Hertzberg has introduced SB 405, an amnesty for unpaid infraction and misdemeanor violations. The bill has successfully moved through the state legislature. Kudos to Senator Hertzberg, who should be applauded for introducing this merciful and common-sense legislation. In Senate testimony, he stated, in part, "This is one of those bills that's personal to me. It's one of those things that really gets under my skin. Because what we've done ion the government as we've faced these difficult budget choices .. is we've given authority, and I was a culprit in some of this stuff many years ago, to simply add fees to everything. ..Well what we learned from that process ..that we're really not collecting much money.. and two that we are dramatically impacting peoples lives and charging somebody $800 for a jaywalking ticket or whatever it is, and they immediately lose their license because they miss a court appearance on matters that don't relate to public safety issues.

May 29 18:05

Calif. Legislature Seeks to Fleece the People in 2015: Higher Gas Tax, Car Registration Fees, Speed Cameras, 24/7 School Zones

The editor of HighwayRobbery.net has issued an important legislative update, which begins "For California Motorists Concerned about Red Light Camera Tickets, Speed Camera Tickets, and New Motoring Taxes: There's four bad bills, and one more really bad one that's likely to show up soon. The worst of the four known bills lowers the plurality required for voters to increase taxes. Right now it is 67%, but ACA 4 will lower it to 55%, opening the door for LOTS of new road and public transit taxes every year, from now on, at state level as well as at county and city level. Another of the known bills will increase your gas tax and car registration fees. There is a bill to add even more government employees to the list of those eligible for protected plates (in California, 1.5 million private vehicles enjoy near immunity from camera and toll tickets). And there is a bill to increase fines in school zones and, strangely, enforce them 24 x 7.

May 29 17:57

IRS is Hacked! Information of 100,000 is Compromised

It seems every time you turn around the news is showing stories about thieves hacking and stealing information in new and complex ways.

May 29 17:56

Amazon is Hiring! Company Takes on 6k New Full-Time Employees

The economy may be slowing down the progress of some retailers, but online giant Amazon seems largely unaffected by slowing sales in the first quarter of 2015.

May 29 17:56

Renting is Getting More Expensive

There’s always a debate going on in the personal finance community over whether it’s better to rent or buy a home. In the past, renting often won out, but that may change.

May 29 16:43

The College Bureaucracy: How Education Forgot the Students and Became A Business

Students attend college to pursue their interests, broaden their intellectual horizons and make headway toward a career. While this is made difficult due to the amount of debt that many must saddle in order to earn a degree, there is also another, much stealthier problem as well: the college bureaucracy. University bureaucracies absorb large amounts of funding and undermine the alleged goal of college, which is to provide an education. But they also signal something more sinister: the neo-liberalization of education, now viewed as a business.

May 29 14:14

US preparing for war on China, Russia to save banks: Analyst

The United States is preparing for a possible war against China and Russia aimed at preventing the collapse of the Western banking system, an American political commentator and activist says.

Michael Billington, Asia editor for the Executive Intelligence Review and author of Reflections of an American Political Prisoner: the Repression and Promise of the LaRouche Movement, made the remarks in a phone interview with Press TV on Thursday.

“The point that has to be made is that the Chinese, like the Russians, are very, very clear that the United States and their NATO allies are in a war mobilization, preparing for war on Russia, preparing for war on China,” Billington stated.

“There’s a general recognition growing that the driving force for this war is the utter collapse of the entire Western banking system,” he added.

Webmaster's Commentary: 

Memo to the Pentagon, the White House, and State Department: a war against Russia and China (and yes, we are looking at a war with BOTH countries), is a really, really bad idea.

The reality is (and Mr. President, if you haven't been informed of this by now, you should have) the US military doesn't have the troop strength, the manufacturing, or the money to insure a positive outcome to such a war.

May 29 13:55

Japan’s Prime Minister Calls for ‘Robot Revolution': Hopes to ‘Spread the Use of Robotics to Every Corner of Society’

Japan’s total fertility rate currently sits well below replacement rate at 1.41 births per woman. The image above is more than just a robot door greeter at a department store in a country with a dwindling population of young people to take care of its elderly.

It’s a death knell for the income of the nation’s already dwindling human population, sung by robots.

(read more)

May 29 13:52

US Mint to Lift 2015 American Silver Eagle Rationing

Ordering limits attached to 2015 American Silver Eagle bullion coins end on Monday, June 1, the United States Mint announced in a memo sent to its network of bullion distributors called “Authorized Purchasers.”

May 29 12:53

DE-DOLLARIZATION DU JOUR: RUSSIA BACKS BRICS ALTERNATIVE TO SWIFT

Russia is ready to consider the creation of a currency union with other members of the Eurasian Economic Union (EEU), Russian Prime Minister Dmitry Medvedev said Thursday.

Now, Russia is taking de-dollarization a step further by suggesting that a BRICS alternative to SWIFT may be in the cards.

This comes as Russia (which, incidentally, is the second heaviest SWIFT user) is set to convene a BRICS summit in Ulfa on July 8-9 where the $100 billion BRICS bank will officially be launched along with a $100 billion currency reserve

"In this [EEU] format it would be possible to consider the possibility and conditions of eventually creating a monetary union,” Medvedev said.

The prime minister is currently in Kazakhstan for a session of the Eurasian Intergovernmental Council.

May 29 12:01

FLASHBACK - Why Isn't Wall Street in Jail?

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.

"Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that."

I put down my notebook. "Just that?"

"That's right," he said, signaling to the waitress for the check. "Everything's fucked up, and nobody goes to jail. You can end the piece right there."

May 29 11:31

Eastern Airlines takes flight from Miami again with first revenue flight

Eastern is back in business at Miami International Airport.

The well-known carrier with the hockey stick logo — a resurrection of the airline that called Miami home for decades — lifted off for its first revenue flight on Thursday afternoon. The destination for Eastern flight 3145 was Havana, in partnership with HavanaAir Charters.

May 29 11:30

Don’t hold your breath for Millennials to purchase homes: 6 years into a recovery and Millennials are still moving into parental homes at record levels.

I ran into a successful Millennial couple this month and we had a good discussion about housing. They are in their 30s and still do not have any kids. Both are career driven and ultimately would like to buy a home. They have the money to buy but just don’t want to. What they brought up was interesting and they mentioned some of their peers had to resort to moving back in with mom and dad. What they brought up simply reflects a “new normal” for Millennials and that is many are simply not eager to purchase a home. Many are delaying marriage, have smaller families (if any), and a large number are carrying sizable student debt. All of this has caused a low demand for housing and alternative choices to buying a home especially for this cohort of Americans. In California we have a high number of adults living at home largely because of the cost of rents and home prices. Yet this trend encompasses the entire country. Higher home prices and rents have only exacerbated this movement.

May 29 10:51

A New Wave of Bank Layoffs, With More to Come

May 29 10:51

US economy shrank by 0.7% in first quarter: Data

The US economy shrank at an annualized rate of 0.7 percent from January through March, according to official figures.

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