ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 22 14:32

Prepare For A Long Economic Depression

Jan 22 13:20

Now the bankers’ triumph is complete

The UK release this week of the Oscar-nominated The Big Short, based on Michael Lewis’s book of the same name, is a fitting bookend to a time when we still believed that the broken financial system might be fixed. But the banks have won. Not a single “top banker” has been jailed and few, if any, have had to return undeserved bonuses. Measures taken since 2008 are being watered down before our eyes and, most dangerous of all, the deeper causes of the crash remain essentially intact. The Occupy movement should call a reunion so we can have a ceremony to bury all remaining hope.

Jan 22 11:55

Poor Italians Homeless While Refugees Live in New Buildings

Jan 22 09:48

Cashless Society War Intensifies During Global Epocalypse

By David Haggith

In the fall of 2015, the world descended into an economic apocalypse that will transform the globe into a single cashless society. This bold prediction is based on trends in nations all over the earth as shown in this article.

As we enter 2016, we are only beginning to see this Epocalypse form through the fog of war. The war I’m talking about is the world war waged furiously by central banks against the Great Recession as the governments they supposedly serve fiddled while their "capital" burned...

Jan 22 09:31

Billionaire CEO of Blackstone Trolls the American Public – He Doesn’t Get Why People Are Angry

DAVOS MAN: “A soulless man, technocratic, nationless and cultureless, severed from reality. The modern economics that undergirded Davos capitalism is equally soulless, a managerial capitalism that reduces economics to mathematics and separates it from human action and human creativity.”

– From the post: “For the Sake of Capitalism, Pepper Spray Davos”

Webmaster's Commentary: 

Jan 22 09:23

Strange and Crazy in the Financial World!

t’s been crazy so long it feels like normal …

Jan 22 09:11

Davos elite alarmed at the prospect of 'embarrassing' Trump being the GOP presidential nominee 

The surprise emergence of a billionaire real estate developer who has proposed banning Muslims from entering the United States as the front runner to become Republican nominee for president is one of the hot topics of conversation among the rich and powerful at the World Economic Forum in Davos, Switzerland.

While calling Donald Trump 'unbelievable', 'embarrassing' and even 'dangerous', business executives and finance leaders said he had nevertheless 'hit a vein' with his direct talk.

Jan 22 08:47

Soros Reveals He Is Short The S&P 500: Warns China Will Have A Hard-Landing, Says "Fed Hike Was A Mistake"

As for the Fed, Soros is on the policy mistake bandwagon, saying Yellen may have mistimed liftoff. That echoes sentiments voiced by Marc Faber among other prominent investors and speaks to what we’ve been saying since September, namely that December's hike might go down as the worst-timed rate hike in history. "The investor said he would be surprised if the Federal Reserve raised interest rates again after hiking them in December for the first time in almost a decade," Bloomberg writes. He, like Ray Dalio, says the FOMC is more likely to cut than hike going forward.

Jan 22 08:44

IMF recommends paying refugees below the minimum wage

The International Monetary Fund has highlighted the positive effect of public spending on refugees on European GDP, but has also recommended that employers pay them less than the minimum wage. EurActiv France reports.

Webmaster's Commentary: 

It is amazing how blind the money-junkies are. If you are not paying workers a decent wage or salary, they will not be going to the shopping malls to buy what corporations are selling, even with the new trend of forcing people to buy things they do not want or need. Money cannot just pile up at the top. It must recirculate to keep the economy working.

Jan 22 08:35

The 1% Economy: The World’s Richest 62 People Now Have as Much as Poorest 3.6 Billion

A new report from Oxfam on global inequality finds the world’s richest 62 billionaires now own as much wealth as half the world.

Jan 22 08:17

12 trigger events that could unleash economic collapse in the U.S

As practically the entire world seems to be nearing the end of its run financially, many people are beginning to wonder how much longer America has before our own teetering house of cards finally falls. Nobody can say for sure how it will all play out, of course, but there are a number of potential scenarios that could act as trigger events to bring about a cataclysmic economic collapse here in the United States, in the very near future.

According to Jim Willie from GoldenJackass.com, the following imminent events could predicate a complete financial breakdown, unlike anything ever before seen in America:

Webmaster's Commentary: 

Jan 22 08:14

"Dip Buying Is Officially Dead"

"dip buying is officially dead and stocks (esp. US ones) are no longer impressed by promises of central bank largess. The reason the SPX has only witnessed insipid rally attempts during this weeks-long swoon is the absence of robust dip-buying."

- JPMorgan

Jan 22 08:13

The Fragile Forty & How The World Lost $17 Trillion In 6 Months

It's official. More than 50% of the "wealth" effect created from the 2011 lows to the 2015 highs has been destroyed (despite the world's central banks going into money-printing overdrive over that period). Almost $17 trillion of equity market capitalization has evaporated in just over 6 months with over 40 global stock indices in bear markets...

Jan 22 08:05

For the First Time Ever, Older Albums Are Out-Selling Newer Albums

If albums are still worth billions of dollars, then a majority of those billions are now going to older releases. According to US-based data just released by Nielsen Music, older, ‘catalog’ albums outsold newly-released albums in 2015, the first time that has ever happened.

Nielsen categorizes an album as ‘catalog’ when its release date is more than 18 months ago. In almost all cases, an album has exhausted its new-release sales energy after that point, and becomes an older selection.

Jan 22 07:27

Saudi Arabia's Secret Holdings of U.S. Debt Are Suddenly a Big Deal

It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars: Just how much of America’s debt does Saudi Arabia own?

But now that question -- unanswered since the 1970s, under an unusual blackout by the U.S. Treasury Department -- has come to the fore as Saudi Arabia is pressured by plunging oil prices and costly wars in the Middle East.

Jan 22 07:20

Make Mine Freedom (1948)

Webmaster's Commentary: 

You can't say you weren't warned!

Jan 22 07:16

Fed Requires URGENT Help From the Treasury- Silver Will Soar Through $400/oz!

"The USFed is so strapped, so deeply under siege, so overwhelmed, that it requires urgent help from the USDept Treasury. So they have expanded QE to become Double Barreled Hidden QE to Infinity. The Gold price will find its true value and price over $10,000 per ounce.The Silver price will find its true value and price over $400 per ounce. In reaching these levels, the ratio will return to the 25-1 range. Several steps have been laid out toward the return of proper price to precious metals.

Jan 22 07:14

Oil to Recover by July, Saudis Digging Their Own Graves to Please Global Elite

The Masters of the Universe are ready to bring the whole world down in a major recession to strangle Russia

Jan 22 06:19

Ruble Rebounds From Record Low as Oil Surge Lifts Russia Assets

The ruble jumped the most since August, rebounding from its lowest level on record, as a recovery in crude prices encouraged investors to buy assets in the world’s biggest energy exporter.

Jan 22 06:02

Silver to Be Unleashed: Andy Hoffman

Jan 22 05:59

Dimon's Pay Jumps 35% to $27 Million

>Package includes $20.5 million linked to bank's future returns
>New performance units come after shareholders rejected pay

JPMorgan Chase & Co. boosted Jamie Dimon’s pay 35 percent, tying most of the package to future performance after a record share of investors rejected the bank’s compensation practices last year.

(*>Package includes $20.5 million linked to bank's future returns
Translation, the money the bank will be making in the future from penalties , fees , loan interest , and 'dip ins' that we'll be paying , for the next bout of 'quantitative easing' .
This Is Where That Money Will Be Going ! DIMON 'S PAY !!!)

Jan 22 05:17

Strange and Crazy in the Financial World!

Jan 22 02:32

Peak Gold and Silver May Have Come and Gone

Jan 21 19:34

Ron Paul Says When Free Trade Fails, War Follows

Free trade — not corporatist, managed trade — is the best guarantor of peace and prosperity. Protectionism leads to trade wars which very often lead to hot wars. In the US presidential race the issue of tariffs and other taxes on trade have begun to enter the conversation. We should remember how dangerous this kind of isolationism is, especially to working and middle class Americans. In today’s Liberty Report, Ron Paul explains the importance of real free trade:

Jan 21 19:28

China Wants to Issue Its Own Digital Currency

China’s central bank plans to issue its own digital currency “as soon as possible,” according to Xinhua. The People’s Bank of China made the announcement at a conference on digital currency in Beijing.

Jan 21 18:54

On the brink: Decision-makers flock to Davos to save global economy

The world's wealthy movers and shakers have gathered in the ski-resort of Davos, as plunging oil prices and turbulent markets, fuel fears of a new economic meltdown.

Jan 21 18:33

New Lows Hit ‘Wash-Out’ Territory

Jan 21 17:55

The Sleepwalkers Awaken

Jan 21 17:36

Economy Stalled, Going DOWN - David Morgan

Jan 21 16:59

Yen Vs GBP Vs Gold

Jan 21 16:51

62 Richest Rule Age of Inequality: “Today’s Elites Are Gods. This Should Make Us Angry.”

The industrialists, bankers and politicians tied to the oligarchy have coded the system to tilt the game in their favor. It is now a matter of statistical record that the “recovery” after the 2008 economic crisis was a transfer of wealth to those who already dominated the game. The poor got poorer, and so did the well-adjusted and middle class.

Jan 21 16:47

Germany looking to join the BRICS

Financial analyst Jim Willie sensationally claims that Germany is preparing to ditch the unipolar system backed by NATO and the U.S. in favour of joining the BRICS nations, and that this is why the NSA was caught spying on Angela Merkel and other German leaders.

Jan 21 16:31

DOW COULD DROP 80% FROM RECENT HIGH

Jan 21 16:30

Davos elite alarmed at prospect of nominee Trump

"Unbelievable", "embarrassing" even "dangerous" are some of the words the financial elite gathered at the World Economic Forum conference in the Swiss resort of Davos have been using to describe U.S. Republican presidential frontrunner Donald Trump.

Although some said they still expected his campaign to founder before his party picks its nominee for the November election many said it was no longer unthinkable that he could be the Republican candidate.

Jan 21 16:19

Hillary's Record on Regulating Wall Street Amounts to a Non-Confidence Vote

Jan 21 16:02

The Hidden Reason Why Stocks Are Tumbling…

Jan 21 15:33

Chinese Debt Bubble About to Burst

Economist James Henry and Ho-fung Hung say China's debt-to-GDP ratio above 240% is an indicator that there is a major disconnect between the market and the real economy.

Jan 21 13:04

A NEW U.K. LAW TELLS MIGRANTS TO EARN $50,000 OR GO HOME

U.S. citizens who work in the United Kingdom for an annual income of less than $50,000 may soon find themselves buying a ticket home.

Jan 21 12:49

World’s 62 Richest Rule Over Age of Inequality: “Today’s Elites Are Gods. This Should Make Us Angry.”

The growing nightmare of inequality at a time when the economy will be sparing few from harsh conditions.

By every meaningful measure, today’s elites are gods. This should make us angry. The notion that our 62 god-kings can be in any way constrained or controlled by Joe and Jane Citizen dropping their votes in a ballot box is too ludicrous for serious contemplation.

The multibillionaire relates to the pauper as predator does to its prey... simply a resource that can be “either slaughtered or shorn”.

Read more at SHTFplan.com

Jan 21 12:23

Why Pegs to the US$ Will Break

Jan 21 11:49

Digging Up a Mountain of Debt

For the first time in more than 30 years, the federal government has decided to hold off on authorizing new leases for coal mining on federal land. It will undertake a review to see whether taxpayers are getting a fair deal while assessing the program’s environmental costs.

Jan 21 11:46

WTF? OIL IS NOW CHEAPER THAN MILK!

Jan 21 11:15

Dow Jones Industrial Average massaged by PPT to save Wall Street!

Jan 21 10:03

CBO Issues Dire Warning on U.S. Government finances

Government estimates of debt over the next decade have gone from adding
$1.5 trillion in debt to $9.4 trillion due to recent tax legislation.
That will put the country up over $30 trillion in debt assuming there
are no further recessions.

This is the decade of no return.

Seems blowing up peoples countries and importing their poor and putting
them on benefits is no longer working. We have also tried closing all our
factories and letting the world scam us out of jobs in the “free trade”
system. World’s highest tax rates…not seeming to help either. Cramming
people into “universities” and loading them with debt has failed as well.

If this doesn’t get better soon we may have to go back to that old free
market economics crap.

Webmaster's Commentary: 

Not to mention nationalizing the central bank, as Britain was forced to do!

Jan 21 10:00

McDonald’s Latest Marketing Ploy Shows Just How Desperate the Food Giant Has Become

By Nick Bernabe

Fast food giant McDonald’s has been having a rough time. Considering its recent decision to close 700 locations in 2015, dire predictions from franchise owners claiming the company is facing its “final days,” and a June announcement that the company was shrinking for the first time in its long history, it’s safe to say McD’s is looking for something — anything — to turn its struggling business around.

The advertising geniuses at McDonald’s may have found that interesting, albeit disturbing something...

Jan 21 09:53

Bankruptcy may not solve Atlantic City’s problems, expert says

While Atlantic City officials talk about a possible bankruptcy filing, one expert calls the notion a really bad idea.

Jan 21 09:44

How 37 Banks Became 4 In Just 2 Decades, All In One Astonishing Chart

If you were wondering how banks got “too big to fail,” here’s a good place to start.

Jan 21 09:30

Neocon revenge?

With the end of the original sanctions now in play, Washington’s neocons and allies are down, but certainly not on the run. What is their greatest fear? That peace and prosperity will break out? In the meantime, what will be the impact on Iran – the country that is the clear winner in all of this?

Jan 21 09:22

Fears of global liquidity crunch haunt Davos elites

Rising Fed interest rates means "liquidity could drop dramatically, and that scares everyone", warns IMF deputy

Webmaster's Commentary: 

There is no liquidity crisis. The private central banks can create new liquidity all they want. The problem is wealth inequality where all the money is concentrated at the very top and there isn't enough currency flowing through the rest of the world to allow commerce to function.

Jan 21 09:06

US Mint Sees “Astounding” Demand For Silver Coins

The U.S. Mint is seeing “astounding” demand for gold and particularly silver coins as covered by us in recent months and as noted by Frank Holmes of U.S. Funds writing in Gold Seek today.

Jan 21 09:00

At Davos, IMF to urge EU nations to open job markets to refugees

The tide of Middle East refugees should boost European economic growth over the short term, but their longer-term impact will depend on efforts to integrate them, the IMF said Wednesday.

In a new study to be presented at the World Economic Forum in Davos, Switzerland this week, the International Monetary Fund said that governments making strong efforts to bring refugees into the workforce can lessen the chance that they will become a burden on the state budget.

"Quick labor market integration can unlock the potential economic benefits of the refugee inflow," said the IMF study, "The Refugee Surge in Europe: Economic Challenges."

Webmaster's Commentary: 

Illegal immigrant labor always cuts down the cost of doing business, which corporations always love.

But what about those Europeans who are displaced from the jobs they had, by doing this?!? Where are they going to go, geopolitically?!?

My guess would be, when these Europeans become displaced by illegal immigrant labor,the anger at the governments which betrayed them will cause the mood across Europe to swing hard right, and we will see a floodgate of ultranationalist sentiment the world hasn't seen for quite some time.

Think Germany in the 1930s.

Those politicians, like Angela Merkel, who have been advocating the acceptance of all alleged political refugees will find herself gone from German, European, and international politics so quickly that she will barely have time to catch her breath.

But the one thing no one in Davos is advocating is for the United States to stop its endless military interventions in the Middle East which are generating this flood of refugees which has overrun Europe!

How the 1% do love their wars!!

Jan 21 08:56

OBAMA’S JUSTICE DEPARTMENT LIKES CRIMINALLY PROSECUTING PEOPLE, BUT NOT CORPORATIONS

Fewer than one in eight federal agency criminal referrals of corporations led to actual criminal prosecutions between fiscal years 2010 and 2014, according to Justice Department data compiled by the Transactional Records Access Clearinghouse at Syracuse University.

Jan 21 08:50

More money for the rich, fewer jobs for everyone else: The price of the coming AI revolution

Financial analysts forecast AI and automation will drive "greater income inequality" and lower wages for low and middle-skilled workers.

Webmaster's Commentary: 

There is an obvious flaw in that concept.

Robots don't buy products! They don;t drive cars because they never go home. They don;t buy food, or big-screen TV sets, or even clothes!

No sales, no money.

Jan 21 08:50

WAR ON CASH ESCALATES: CHINA READIES DIGITAL CURRENCY, IMF SAYS "EXTREMELY BENEFICIAL"

Remember when Bitcoin and its digital currency cohorts were slammed by authorities and written off by the elite as worthless? Well now, as the war on cash escalates, officials from The IMF to China are seeing the opportunity to control the world's money through virtual (cash-less) currencies. Just as we warned most recently here, state wealth control is the goal and, as Bloomberg reports, The PBOC is targeting an early rollout of China's own digital currency to "boost control of money" and none other than The IMF's Christine Lagarde added that "virtual currencies are extremely beneficial."

These limits are broadly called “capital controls.”

WHY NOW?

WHY ARE GOVERNMENTS SUDDENLY SO KEEN TO BAN PHYSICAL CASH?

Jan 21 07:12

Union Pacific Corporation (UNP) Releases Earnings Results, Misses Expectations By $-0.10 EPS

***
The company’s revenue was down -15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS.

(*Union Pacific operates North America's premier railroad franchise, covering 23 states in the western two-thirds of the United State}

Jan 21 07:03

Barclays Cutting 1,000 Jobs

Barclays Cutting 1,000 Jobs, About 230 Eliminated in Asia

Barclays will cut about 1,000 jobs in investment banking worldwide and close its cash equities business in Asia as new Chief Executive Jes Staley wields the axe in a bid to reduce costs and boost returns.

Jan 21 05:00

Central Banks Are Out of Tricks

Jan 21 04:28

Russia’s ex-finance minister says oil price may plunge to $16-18 per barrel

"Today there is a wide range of factors putting pressure on [oil] price. It will be lower than today. It may reach 18 and even 16 [dollars per barrel] but for a short period of time. Indeed, it will be the lowest point," Kudrin said.

Jan 21 02:02

Stock Correction Sets Lowly Record

Jan 20 18:46

World Wide Shipping Collapse - Mike Swanson

Jan 20 16:45

DEA Hired A TSA Informant To Help Take Cash From People's Luggage

A Department of Justice watchdog officially condemned the U.S. Drug Enforcement Administration this month, following a report that the agency had recruited a Transportation Security Administration security screener to search bags for cash that the DEA could confiscate.

The very existence of such a partnership highlights much broader concerns about the controversial legal practice known as civil asset forfeiture, which critics say contorts law enforcement priorities and props up a system of policing for profit.

Jan 20 16:39

Luxury Retailer Sinks Into The Quagmire.

Jan 20 16:35

Wealth, influence of Gates Foundation distorting intl development

Enormous wealth and influence wielded by the Bill and Melinda Gates Foundation (BMGF) is distorting the direction of international development in a global vacuum of accountability, a new report claims.

Jan 20 16:34

Here’s how low one bank just took its interest rates—

A friend forwarded me a hilarious note over the weekend informing him that his bank has a “new” interest rate they’re paying on deposits: 0.001%.

Think about that number: 1/1000th of 1%.

Let’s put 0.001% in context just to demonstrate how absurdly small that number is:

* 0.001% is roughly the same as your odds in poker of ending up with a straight flush, and 30 times less than your odds of getting struck by lightning at some point in your life.

* A bank balance of $100,000 earning 0.001% would generate a whopping $1 in interest after an entire year.

* If at the time of his assassination in 44BC, Julius Caesar had put the equivalent of $100 in a savings account earning 0.001% compounding annually, he would have received a grand total of $2.08 in interest over the last 2,000+ years.

Jan 20 16:27

It Is Now Cheaper To Rent A Dry Bulk Tanker Than A Ferrari

China’s slowing growth has crushed shipping rates to such an extent that hiring a 1,100-foot merchant vessel would set you back less than the price of renting a Ferrari for a day.

Jan 20 16:02

Central Planners Freaking Out about Discussion of Gold’s Role

Sound money issues make for good politics these days. The leading Republican candidates have all suggested reforms to our monetary system. The topic is popping up in debates as well as interviews. Predictably, Fed worshipers and proponents of central planning everywhere are snickering and trotting out the usual responses.

Jan 20 15:54

Like sheep to slaughter: You still aren’t grasping the systemic risk in the stock market (or else you would have sold everything already)

The massive market bubble currently in place has been propped up by a steady stream of fiat money being printed by the Federal Reserve and handed out to banksters who have ties to Washington. This, combined with near-zero interest rates, is the only thing propping up the bubble market (and creating the illusion of economic prosperity).

Jan 20 15:44

China Flexes Muscles At Shanghai Gold Exchange

The New Cold War between West and East has already become a Luke-Warm War , and it threatens to become a full-fledged “hot” war. After years of passively reacting to Western crime and aggression; both China and Russia have shown an increasing tendency to adopt a more proactive stance. On the economic front, China has leaped into the international gold market, suddenly and decisively .

Jan 20 15:42

China-led Asian Infrastructure Investment Bank Opens Without the US

Mark Weisbrot of CEPR says the institutions of global governance, especially the ones that have actual power, have historically been controlled by the United States - this bank marks a departure from that trend.

Jan 20 15:37

Interview 1126 – James Corbett on The Rise of the Oiligarchs

the end of alternative fuels, alternative medicine, light passenger rail

BPA, Rockefeller medicine, and endless political meddling in the middle east

Jan 20 14:45

Planet of Fear

same silliness different day

snip: And that once again feeds the warmongering hordes, for which that «good old-fashioned world war» is the easiest ticket out. Cancel all the old debt; issue loads of new debt; turn ploughshares and iPhones into cannons. And after a little thermonuclear exchange, welcome to full employment and a new (waste)land of opportunity.

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