ECONOMY | WHAT REALLY HAPPENED

ECONOMY

May 11 16:54

Chrysler Wants to Pay for Employees’ College

Working at a car dealership may come with more benefits than you think.

May 11 16:53

Marriage Changes Tax Implications

Wedding season is officially here. It’s common knowledge that Summer is the time when more couples get married than any other time of year. But did you know that getting married can have a huge impact on your tax situation?

May 11 16:53

This 2-Year-Old Company is Worth $4.5B

A cloud-based human resources company, Zenefits, is only just now 2 years old but has a value of $4.5 billion.

May 11 16:52

Survey Shows Employees Want More Respect

Most employers likely wouldn’t rank respect as the top thing that most employees want. But a new survey from the Society for Human Resource Management found 72% of employees rank “respectful treatment of all employees at all levels” to be the most important factor in job satisfaction.

May 11 16:51

LinkedIn Stock Plunges

After LinkedIn acquired the educational website, lynda.com, business projections have fallen due to some “short-term” costs, and investors aren’t happy.

May 11 16:45

US Desperate to Steer Greece Away From Russian-Turkish Pipeline Project

Greece’s Syriza government is interested in a Moscow-backed ‘Turkish Stream’ natural gas pipeline project, bringing gas from the Black Sea through Turkey and into Greece.

The U.S. has moved in to block this option, selling an alternative plan to the Greeks – a ‘Trans-Adriatic’ pipeline project, bringing Azerbaijan’s gas from the Caspian Sea before entering into Europe, possible via Greece, and eventually to Italy.

May 11 15:59

War Threat Rises As Economy Declines

May 11 15:04

China Is About To Shock The World With Its Gold Holdings

We are on the verge of a golden shock.

I wrote recently about plans by the International Monetary Fund (IMF) to include the Chinese currency as one of the reserve currencies that back the IMF’s so-called Special Drawing Rights.

Well, there’s another facet to that story that you need to know … and it echoes the warnings I first began voicing in early 2014.

May 11 13:50

The secretive Bank of England

Well before the conflict for establishing a National Bank in America or the eventual surrender to the money changers with the betrayal in instituting the Federal Reserve, the history of the Bank of England needs to be studied. Relying on British historians may seem to invoke a cultural bias; however, the range and wealth of information on this topic comes from an earlier age. Further research will expand this understanding and many of the sources cited can fulfill this objective.

May 11 13:41

Raising the Minimum Wage Is Step One in Making the Economy Work for the Many, Not Only the Few

A basic moral principle that most Americans agree on is no one who works full time should be in poverty, nor should their family.

Yet over time we’ve seen significant growth in the “working poor” – people working full time, sometimes even 60 or more hours each week, but at such low wages that they remain impoverished.

May 11 13:02

Russia Asks Greece To Join BRICS Bank

As if the discussions in Brussels and Athens were not mired in enough uncertainty, Bloomberg reports that a Greek official confirms:

*STORCHAK ASKED TSIPRAS FOR GREECE TO JOIN BRICS BANK: OFFICIAL
The pivot appears to continue. Reportedly, Tsipras was pleasantly surprised by the proposal.

Webmaster's Commentary: 

As usual, Putin is about 90,0000 chess moves ahead of his European counterparts.

This will, indeed, be a game changer.

May 11 11:47

Why the Rich Don't Care About Jobs for the Rest of Us

Many of us wonder what possible reason could exist for the failure to invest in American infrastructure, to create millions of jobs as a result, and to help everyone in the long run. Analysis reveals personality traits and beliefs and misconceptions that might account for such behavior.

May 11 11:33

Water shut-off warnings to be posted Monday

The city will begin hanging notices on the doors of delinquent residential water customers Monday, giving them 10 days to sign up for a payment assistance plan or face cutoff.

The Detroit Water and Sewerage Department has estimated that Detroit has 20,000 to 25,000 delinquent residential accounts.

Shut-off status comes into play for accounts that are at least 60 days late or owe $150 or more. The notices will detail the warning and options for getting help, Gary Brown, Detroit's chief operating officer, has said.

Brown noted service won't be turned off to delinquent customers who opt into a payment plan. Typically, about 50 percent of people come in, get on plans and make a payment once the door hangers go out. The others, he's said, come in to pay on their bill on the day that service is shut off.

Webmaster's Commentary: 

The US Government can pay for weapons for Saudi Arabia, Israel, whoever, but can't afford to provide water to US citizens?

May 11 11:31

Larger Than Ever, Big Banks Poised to Fail Again: “The Damage Will Not Be Contained”

The banksters, who nearly tanked the global market in their collective effort to loot the peoples of the world, are operating out of “larger than ever” big banks.

The Corporate Reform Coalition (CRC) found that... even the weak-kneed requirements of the Dodd-Frank “Wall Street Reform Act” have not been fulfilled:

“The top six bank holding companies are considerably larger than before, and are still permitted to borrow excessively relative to the assets they hold,” the report states. “They are dangerously interconnected and remain vulnerable to sudden runs, because they borrow billions of dollars from wholesale lenders who can often demand their cash back each and every day.”

Read more at SHTFplan.com

May 11 11:30

Why the Rich Don’t Care About Jobs for the Rest of Us

Several studies by Paul Piff and his colleagues have revealed that upper-class individuals tend to be narcissistic, with a clear sense of entitlement. Worse yet, they believe their talents and attributes – genius, even – have earned them a rightful position of status over everyone else.

Scarier yet, according to one study, the American sense of entitlement has been growing over the past 30 years, despite the fact that most of us have lost ground to the super-rich. And most disturbing is that ‘upper-class’ individuals tend to behave more unethically than average citizens.

This “all about me” attitude means that the wealthy don’t have to depend on others, and that they have less need to understand the feelings of others. This directly impacts our daily lives. The greater the concentration of wealth, the less a society invests in infrastructure. Our investment in infrastructure as a percent of GDP dropped by 60 percent from 1968 to 2011.

May 11 11:12

When Obama Talks About His "Massive Fight" With Wall Street, What Exactly Does He Refer To?

On one hand, none other than the company whose very future depends on the continuity of the financial status quo (that would be Bloomberg whose 200,000 Bloomberg terminals are the cashflow lifeblood of the company and for which another financial crash would mean a huge hit to the bottom line as millions of financial workers are again laid off) has a cover story, as well as a cover, depicting Elizabeth Warren as Wall Street's bogeyman.

On the other hand, we now learn that Warren is also warning that Obama's pet trade project, the 12-nation Trans-Pacific Partnership (TPP) which is supposed to counter the ascendence of China in global trade, has been warning about the potential damage of the trade deal and has been arguing that the deal would cost American jobs (for more on the topic, see "Free Trade Is Plutocratic Propaganda").

And Obama is not happy: according to the NYT, Obama called Warren "absolutely wrong" in his criticism of the TPP.

May 11 10:43

War Threat Rises As Economy Declines — Paul Craig Roberts,

On the foreign policy front, the hubris and arrogance of America’s self-image as the “exceptional, indispensable” country with hegemonic rights over other countries means that the world is primed for war. Neither Russia nor China will accept the vassalage status accepted by the UK, Germany, France and the rest of Europe, Canada, Japan and Australia. The Wolfowitz Doctrine makes it clear that the price of world peace is the world’s acceptance of Washington’s hegemony.

Therefore, unless the dollar and with it US power collapses or Europe finds the courage to break with Washington and to pursue an independent foreign policy, saying good-bye to NATO, nuclear war is our likely future.

May 11 10:38

How prisons have become a cash cow for the rich

And it’s not just the phone companies that are getting rich off prisoners’ phone calls.

Thanks to so-called “commissions” that can account for as much as 94 percent of the cost of a call, prison phone contracts have become a major source of revenue for state and local governments all across the country.

These glorified kickbacks have also become a source of revenue for prisons themselves, and they use them to pay for the health care and food services they’re already constitutionally required to provide.

In other words, like pretty much every other case of privatization over the past few decades, the rise of private prison phone contracts has nothing to do with “efficiency” or “improving services” and has everything do with making a quick buck for some crony capitalist with a bunch of Republican friends in Congress.

Webmaster's Commentary: 

The privatization of prisons in this country has guaranteed an horrific rise in recidivism (re-offending, going back to prison), which means that the private prisons have become great investment opportunities (for people with the morals of a trout, that is).

Sweden is CLOSING many of its prisons, and why?!? Because the total focus of prison time is rehabilitation, rather than punishment, and reintegration with society when the prisoner is released.

It is a sane, and compassionate model, which is why it is completely ignored by the penal system here in the US.

May 11 10:27

Will Austerity Be the Straw that Breaks the EU AND the UK?

Very much like the Greeks, the Scots unambiguously voted down austerity. And in very much the same fashion, they face an entity that claims to be more powerful and insists on forcing more austerity down their throats anyway. It seems inevitable that at some point these larger entities will start to crack and break down into smaller pieces. As empires always do. Now, the EU was of course never an empire, there’s just tons of bureaucrats dreaming of that, and Britain is a long-decayed empire.

Larger entities like empires are more powerful only for a limited period of time, for as long as the center can make the periphery benefit; once the center starts feeding off the periphery, the endgame starts. This can take a while, but it will happen, it’s a law of nature. When periphery regions figure out they have nothing to lose by splitting off, they will elect to stand on their own two feet and be their own boss.

And it’s not as if either Scotland or Greece lack a history of fighting for their independence. Just a reminder.

May 11 10:12

US Will Withdraw Its Ambassador From Greece Because Of The Malfunction

US openly opposed gas supplies from Russia to the EU via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 11 09:57

This uncanny chart says a top is approaching

May 11 09:53

YOU’RE GONNA NEED A BIGGER CHART

May 11 09:50

A British farmer has rejected a £275million offer for his land from housing developers

A farmer who rejected a £275million offer for his land from housing developers has said he is 'not afraid to stand up to them'.

Robert Worsley said he feared 'country bumpkins' like himself would be 'steamrolled' and that he believed the community was ready to stand together to protect their homes.

The 48-year-old father of two has run his 550-acre, near Haywards Heath, West Sussex, for the last 15 years.

He was approached by agents for housebuilder Mayfield more than two years ago. Since then, the company has contacted Mr Worsley a number of times, trying to persuade him to sell.

May 11 09:26

Gold vs DOW: Hedge Against Inflation?

May 11 09:25

Currency War Collateral Damage: China Stops Growing, Starts Easing; The Race To The Bottom Continues, By Early 2016 Both The US And China Will Be In Aggressive Easing Mode

When a country pegs its currency to a bigger one like the US dollar, it in effect outsources its monetary policy to the operator of that other currency. This confers several benefits, including the enforced discipline of the other, presumably more rigorous monetary regime and the simplicity of letting someone else stress over controversial policies like QE.

May 11 09:22

Putin’s Greek pawn gambit

In my earlier blog post on 17 March of this year, Hey Obama — The Chess Match Just Started, I broached the idea that Greece’s request for major war reparations from Germany for the WW-II NAZI invasion and occupation of Greece, and associated war crimes, could plausibly be seen as a sly gambit by multiple countries to ultimately ensnare the war-mongering USSA and bring it to heel.

May 11 09:03

Who’s Got the Gold?

In 1971, the US abruptly went off the gold standard, and in making the public announcement, US President Richard Nixon looked into the television camera and said, “We’re all Keynesians now.”

I was a young man at the time and had previously bought gold, albeit on a very small scale, but I recall looking into the face of this delusional man and thinking, “This is not good.”

May 11 08:39

Scale of UK attacks on Islamic State in Iraq revealed

British aircraft and unmanned drones have attacked Islamic State targets in Iraq with more than 200 bombs and missiles in military operations that have been largely ignored, a Guardian analysis has shown.

The air strikes, which began in the autumn, have been undertaken by the RAF’s oldest bombers – Tornado GR4s and its newest weapon – the remotely piloted Reaper.

Tornados have dropped at least 87 Paveway IV bombs and fired at least 47 Brimstone missiles. Reapers have fired more than 80 Hellfire missiles.

May 11 08:37

Our Religion is Enforced Monetism

May 11 08:24

War Threat Rises As Economy Declines — Paul Craig Roberts

The defining events of our time are the collapse of the Soviet Union, 9/11, jobs offshoring, and financial deregulation. In these events we find the basis of our foreign policy problems and our economic problems.

The United States has always had a good opinion of itself, but with the Soviet collapse self-satisfaction reached new heights. We became the exceptional people, the indispensable people, the country chosen by history to exercise hegemony over the world. This neoconservative doctrine releases the US government from constraints of international law and allows Washington to use coercion against sovereign states in order to remake the world in its own image.

May 11 08:24

The Average Age Of A Minimum Wage Worker In America Is 36

Did you know that 89 percent of all minimum wage workers in the United States are not teens? At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women. Millions upon millions of Americans are working as hard as they can (often that means two or three jobs), and yet despite all of their hard work they still find themselves mired in poverty. One of the big reasons for this is that we have created two classes of workers in the United States.

May 11 07:58

The Average Age Of A Minimum Wage Worker In America Is 36, The Real Unemployment Rate Is Sitting At 23 Percent. That Is Not An “employment Recovery” – That Is A National Crisis.

Did you know that 89 percent of all minimum wage workers in the United States are not teens? At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are women.

May 11 07:36

BEX ALERT - The US Unemployment Rate At Its Lowest Level Since 2008

The Bureau of Labor Statistics’ April employments report contained unobtrusively reassuring monetary news.

The finance overview demonstrated superintendents included simply under a quarter million net new occupations in the month while the family unit review reported unemployment tumbling to 5.4 percent—its most reduced level following mid-2008. All in all, the report gave a positive counterpoint to late negative monetary news.

http://whatisusa.info/the-us-unemployment-rate-at-its-lowest-level-sin...

May 11 07:30

Chrysler Wants to Pay for Employees’ College

Fiat Chrysler announced last Monday that it will roll out a program to cover the cost of college degrees for those who work at Chrysler, Jeep, Dodge, Ram Truck and Fiat dealerships...

May 11 07:28

Confessions of a Former Mortgage Broker

Want an inside look at the home buying process? Read about the confessions of a former mortgage broker

May 11 07:07

US Openly Opposed Gas Supplies From Russia To The EU Via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 10 23:16

US Openly Opposed Gas Supplies From Russia To The EU Via Greece

The U.S. state Department chose to withdraw its ambassador in Athens in the year prior period because of the way that neglecting to educate Washington about the bill on legal change received by the Greek Parliament. On it advises Agency Sputnik with reference to the Greek daily paper Kathimerini.

http://whatisusa.info/us-will-withdraw-its-ambassador-from-greece-beca...

May 10 22:59

The US Unemployment Rate At Its Lowest Level Since 2008

The Bureau of Labor Statistics’ April employments report contained unobtrusively reassuring monetary news.

The finance overview demonstrated superintendents included simply under a quarter million net new occupations in the month while the family unit review reported unemployment tumbling to 5.4 percent—its most reduced level following mid-2008. All in all, the report gave a positive counterpoint to late negative monetary news.

http://whatisusa.info/the-us-unemployment-rate-at-its-lowest-level-sin...

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