ECONOMY

Oct 23 19:49

We Are Witnessing The Slow-Motion Destruction Of The Middle Class, And Very Few Of Our Leaders Seem To Care.

The Social Security Administration has just released wage statistics for 2013, and the numbers are startling. Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000.

Oct 23 19:13

SNB could need to buy $60 bln of gold, first poll shows ‘yes’ vote

The Swiss National Bank could be forced to buy nearly $60 billion of gold at current spot prices after the first poll on the impending Swiss referendum shows a ‘yes’ vote could be on the cards.

On November 30, voters in Switzerland will decide whether or not to outlaw further gold sales from the Swiss National Bank, to make physical bullion at least 20 percent of the bank’s assets and whether to repatriate Swiss-owned gold.

A recent poll by popular online news site 20 Minuten shows the initiative’s supporters ahead 45 percent to 39 percent.

Oct 23 18:05

Isaac Asimov Asks, “How Do People Get New Ideas?”

When I first became involved in the project, I suggested that Isaac Asimov, who was a good friend of mine, would be an appropriate person to participate. He expressed his willingness and came to a few meetings. He eventually decided not to continue, because he did not want to have access to any secret classified information; it would limit his freedom of expression. Before he left, however, he wrote this essay on creativity as his single formal input. This essay was never published or used beyond our small group. When I recently rediscovered it while cleaning out some old files, I recognized that its contents are as broadly relevant today as when he wrote it. It describes not only the creative process and the nature of creative people but also the kind of environment that promotes creativity.

Oct 23 15:21

Top Secrets of Gold – Full Documentary

Oct 23 14:32

Media paying attention to poll showing public's distaste for privatization

Newspaper columnists and radio talk show hosts are paying attention to fresh polling data that shows just how uneasy Canadians are about the concept of privatization.

Last week, the National Union of Public and General Employees (NUPGE) publicized the results of the polling done in September in which:

70 per cent of respondents agreed that: “allowing a few people to profit from services meant for all of us weakens our country's principles and core values of caring and sharing."
82 per cent agreed that “when private companies get contracts to provide government programs, the public loses control over services people depend on.”

Oct 23 14:05

Sears disputes report of 116 store closures, nearly 6,100 layoffs

Cash-strapped Sears Holdings rose 4.5% to $35.95 Thursday following a report that it plans to close 116 Sears and Kmart stores and lay off nearly 6,100 employees, many ahead of the Christmas shopping season.

Oct 23 11:38

Gap between wages and rents continues to grow

Oct 23 10:11

Keiser Report: Market Cycle Horrors

Oct 23 09:47

List of the World’s Richest Countries; America’s Special Role in It

The world’s richest countries are the ones where the median wealth per person is the highest. This system ranks nations truly according to the most-representative person in each given nation — the person who is in the exact middle of that nation’s population in terms of per-person wealth. Consequently, for example, if a Bill Gates or other billionaire relocates into a certain country, no matter how small its population is, this won’t change that country’s ranking, whereas it could raise the country’s ranking if the ranking-system were according to the mean wealth per person (i.e., dividing everybody’s total wealth by the total population-number).

Oct 23 08:45

Thousands With Degenerative Conditions Told They Could Be ‘Fit To Work In The Future’

More than a third of people with debilitating and incurable conditions and are too sick to work, such as Parkinson’s and multiple sclerosis, are being placed in the ‘Work Related Activity Group (WRAG) of ESA, even though their condition is certain to worsen over time.

Claimants placed within the WRAG receive less money than those in the higher ‘Support Group’, who are not required to prepare for work or attend Job Centre interviews, and face the threat of sanctions if they fail to comply with strict requirements. Some may have their ESA entitlement removed after only a year as the government attempts to “support people into work”.

Oct 23 08:44

UN Issues Statement on Human Rights Violations in Detroit

The conditions are so bad that two United Nations special rapporteurs were invited to Detroit by a number of community groups: the special rapporteur on human right to safe drinking water and sanitation, and the other one on adequate housing and standard of living without discrimination. They heard from residents, council members, the mayor, and congressmen. In their joint statement, they said that the human rights to safe drinking water, sanitation, and adequate housing both derive from the right to an adequate standard of living protected under Article 25 of the Universal Declaration of Human Rights.

Oct 23 08:42

Juicy Month: Arms sales soar amid war against ISIS

It is exactly one month since the US started its bombing campaign on Islamic State in Syria. And it's been quite a profitable operation for the arms industry of course - on the first day 47 Tomahawk missiles worth over 65 million dollars were dropped. One month on and the jihadists are still in place.But the war has produced new contracts for American weapon makers.

Oct 23 08:42

McDonald's Posts Worst Sales Decline In 10 Years

McDonald's global sales at stores open at least 13 months declined 3.7% in August.

That the worst same-store sales decline that the fast-food giant has reported since March 2003, when global sales also fell 3.7%. It also marks the fourth straight month of comparable sales declines in the U.S., which accounts for about 32% of McDonald's revenue.

Oct 23 08:41

Everyone In America Would Be Better Off If We Soaked The Rich: "While conservatives warn that higher tax rates on the wealthy will hurt so-called “job creators,” economists point out that higher taxes and economic growth can go hand-in-hand."

A 90 percent tax rate on the top 1 percent of American earners wouldn’t just significantly reduce income and wealth inequality and boost government tax revenues. It would also be the optimal level for Americans’ welfare, according to a new paper from economists Fabi

Oct 23 08:36

New York Fed’s Conference Evokes Thoughts of Violence Against Wall Street

“Since 2008, fines imposed on the nation’s largest banks have far exceeded $100 billion. The pattern of bad behavior did not end with the financial crisis, but continued despite the considerable public sector intervention that was necessary to stabilize the financial system. As a consequence, the financial industry has largely lost the public trust. To illustrate, a 2012 Harris poll found that 42 percent of people responded either ‘somewhat’ or ‘a lot’ to the statement that Wall Street ‘harms the country’; furthermore, 68 percent disagreed with the statement: ‘In general, people on Wall Street are as honest and moral as other people.’ ”

Further cementing that public distrust, the media was barred from attending Monday’s conference at the New York Fed. Press members who nonetheless reported on the event evoked a recurring theme of violent acts to deal with incorrigible actors.

Oct 23 08:03

Alan Greenspan Admits The Unthinkable

Oct 23 08:00

Ron Paul: Stock Market Roller Coaster Rides!

Oct 23 07:59

99 ways to boost pensions in California -- at public cost

Taxpayers could shoulder billions now that CalPERS has approved perks for new public workers.

Oct 23 07:50

Earth at risk after cuts close comet-spotting program, scientists warn

The Earth has been left with a huge blind spot for potentially devastating comet strikes after the only dedicated comet-spotting program in the southern hemisphere lost its funding, leading astronomers have warned.

The program, which discovered the Siding Spring comet that narrowly missed Mars on Sunday, was shut down last year after losing funding.

“It’s a real worry,” Bradley Tucker, an astronomer at the Australian National University (ANU) and University of California Berkeley, told Guardian Australia.

“There could be something hurtling towards us right now and we wouldn’t know about it.”

Oct 23 07:11

WTI Crude Slides Below $81

Oct 23 07:09

Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves - the very institutions that unleashed QE - are now admitting that the record wealth disparity in the world - surpassing that of the Great Depression and even pre-French revolution France - is caused by "monetary policy", i.e., QE.

Oct 23 07:09

Top Regulator Says Bank CEOs Meant Well -- This Evidence Says Otherwise

The head of one of Wall Street's most important regulatory agencies argued recently that Big Bank CEOs never intended to break the law or engage in foreclosure fraud. Instead, Thomas Curry of the Office of Comptroller of the Currency tells us they weren't cautious enough.

Internal documents obtained from a bank-backed venture several years ago seem to directly contradict this claim. These documents, which include training materials, PowerPoint presentations, and videos, suggest that the industry made a conscious attempt to bypass local jurisdictions and automate processes -- in what can best be described as a fraud-friendly way.

Oct 23 07:07

Major Inflation Hits Detroit Property Market

Oct 23 07:02

Central Banker Admits Central Bank Policy Leads To Wealth Inequality

Six years after QE started, and just about the time when we for the first time said that the primary consequence of QE would be unprecedented wealth and class inequality (in addition to fiat collapse, even if that particular bridge has not yet been crossed), even the central banks themselves - the very institutions that unleashed QE - are now admitting that the record wealth disparity in the world - surpassing that of the Great Depression and even pre-French revolution France - is caused by "monetary policy", i.e., QE.

Oct 23 06:56

Cashing out: ‘Electronic payments taking over, banks to abandon paper money soon’

More and more countries are using electronic payments instead of physical as they’re much cheaper, easily traceable and help to combat terrorism financing, money laundering, tax evasion and the black market, economist Konstantin Gurdgiev told RT.

Denmark’s Central Bank Nationalbanken plans to stop printing banknotes and minting coins by the end of 2016. It claims that people increasingly prefer to use credit cards and electronic money in transactions rather than cash.

Oct 23 06:55

Fed Up With DOJ Misconduct, Fraud and False Evidence – Federal Judge Takes Nuclear Option

In perhaps the most stunning documentation yet of abuses by Eric Holder’s Justice Department, two former Assistant United States Attorneys spoke to defense attorneys and revealed appalling deceit and corruption of justice. This latest litigation time bomb has exploded from multi-million dollar litigation originally brought by the Department of Justice against Sierra Pacific based on allegations that the lumber company and related defendants were responsible for a wildfire that destroyed 65,000 acres in California.

In what was dubbed the “Moonlight Fire” case, the tables are now turned. The defendants have discovered new evidence and filed a stunning motion. The new evidence and disclosures are being taken seriously by the Chief Judge of the Eastern District of California—as they should be. In a shocking action, Judge Morrison C. England Jr. ordered the recusal of every federal judge in the Eastern District of California.

Oct 23 06:42

Michael Snyder - Deflation then Inflation Through the Roof

What do you look out for as a warning sign of the next calamity? Michael Snyder of TheEconomicCollapseblog.com says, “When there is a financial crisis, all of a sudden, banks don’t want to lend. They don’t want to lend to each other, and they don’t want to lend to anyone else. Credit freezes up, and our financial system is based on debt and the flow of money from the banks lending it to the rest of us. I believe we will have a brief period of deflation before the response by the Federal Reserve and the federal government, where we are going to then have tremendous inflation through the roof.”

Oct 23 06:16

Russia to introduce new tariffs on natural gas for Turkey

Suffering from a wide range of economic sanctions imposed by Western countries, Russia is expected to introduce new tariffs on natural gas exports to Turkey through the Blue Stream pipeline in order to strengthen its economy, a development which may put an obstacle before the demand that Russia reduce its gas prices for Turkey.

A recent draft making some amendments to the taxation of several products was passed in Russia's State Duma (lower house of parliament) on Wednesday. The draft, should it pass in the Federation Council (upper house of parliament), will enforce tariffs on natural gas exported by Russia's state-owned gas company, Gazprom, to Turkey via the Blue Stream pipeline. Russia does not currently exercise any export duty on gas transported to Turkey via this pipeline.

Oct 23 05:13

EDITORIAL: Federal court secrecy goes too far

"..The entire ordeal was reported Sunday by the Review-Journal’s Jeff German. After more than a decade of investigation, federal agents in December raided the home of Glen Cobb and seized $2.7 million from two safes. The government also took $10.5 million from the investment and bank accounts of Mr. Cobb, his stepdaughter and his 82-year-old parents, even though search warrants authorized by U.S. Magistrate Judge Cam Ferenbach allowed agents to take just $4 million.

When the family’s lawyers demanded the assets be returned, the government sought civil forfeiture under “super seal.” Widely abused forfeiture laws allow governments to keep assets they believe were obtained through criminal means, even if no criminal charges are ever filed. And under “super seal,” cases and their documents are stored in a court vault, not loaded into a digital case management system. The Cobbs themselves couldn’t even review the case against them.."

Oct 22 21:31

Another Death Knell For The Middle Class

Oct 22 19:20

Low Inflation? The Price Of Ground Beef Has Risen 17 Percent Over The Past Year

Thanks to the Federal Reserve, the middle class is slowly being suffocated by rising food prices. Every single dollar in your wallet is constantly becoming less valuable because of the inflation the Fed systematically creates. And if you try to build wealth by saving money and earning interest on it, you still lose because thanks to the Federal Reserve's near zero interest rate policies banks pay next to nothing on savings accounts.

Oct 22 18:53

Did the Fed "Save" Us Again Last Week?

Oct 22 18:17

Economists Say We Should Tax The Rich At 90 Percent: "A 90 percent top marginal tax rate doesn’t mean that if you make $450,000, you are going to pay $405,000 in federal income taxes.Americans have a well-documented trouble understanding the notion of Tax

America has been doing income taxes wrong for more than 50 years.
All Americans, including the rich, would be better off if top tax rates went back to Eisenhower-era levels when the top federal income tax rate was 91 percent, according to a new working paper by Fabian Kindermann from the University of Bonn and Dirk Krueger from the University of Pennsylvania.

Oct 22 18:04

$4.10 Per Pound: Ground Beef Price Climbs to Another Record High

Burdens pile up on shaky economy -- The average price for a pound of ground beef climbed to another record high–$4.096 per pound–in the United States in September, according to data released today by the Bureau of Labor Statistics (BLS).

Oct 22 15:00

Forex-Rigging Fines Could Hit $41 Billion Globally: Citi

“Extrapolating European and, more importantly, U.S. penalties from a previous global settlement suggests to us a total potential global settlement on this key issue,” they said in the note.

Probes into allegations that traders rigged foreign-exchange benchmarks could cost banks as much as $41 billion to settle,Citigroup Inc. (C) analysts said.

Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine of as much as 5.1 billion euros ($6.5 billion), Citigroup analysts led by Kinner Lakhani said yesterday, estimating the Frankfurt-based bank’s settlements could reach 10 percent of its tangible book value, or its assets’ worth.

Oct 22 13:15

Banks hold treasuries and make loans

Ever since the 2008 financial collapse, banks have reduced their lending while accumulating U.S. Treasuries.

Oct 22 12:55

California Orders Churches To Fund Abortions—Or Else

A regulatory change in California has placed abortion in the category of ‘basic health services’ all insurance plans must cover. Even those churches buy.

Oct 22 12:48

Denmark's central bank to stop producing money

With more and more people paying with credit cards and their smartphones, Denmark’s central bank Nationalbanken says it no longer pays to print banknotes or mint coins.

Webmaster's Commentary: 

And how do they pay when the cloud goes down (again)?

Oct 22 12:40

WARREN BUFFETT LOSES ANOTHER $700 MILLION

Oct 22 12:19

Santelli & Schiff: “A Messy Exit Is A Given… Ending QE Will Plunge US Into Severe Recession”

“Markets are slowly coming to grips with reality is not going to be as easy as everybody thought,” Peter Schiff tells CNBC’s Rick Santelli, noting the pick up in volatility across asset classes recently. What The Fed clearly does not understand, Schiff blasts, is that “you cannot end quantitative easing without plunging the US into a severe recession.” Because of the Fed’s extreme monetary policy and the mal-investment that flows from it, Schiff says, “The US economy is more screwed up now than it’s ever been in history.” Most prophetically, we suspect, Santelli agrees that “a messy exit is a given,” and Schiff believes they know that and that is why QE4 is coming simply “because it hasn’t worked and they can’t admit it’s been a dismal failure.”

Oct 22 11:03

Census Report: Half of Americans Poor or Near Poor

Forty-seven percent of Americans have incomes under twice the official poverty rate, making half of the country either poor or near-poor, according to figures released last week by the Census Bureau.

These figures are based on the Census Bureau’s Supplemental Poverty Measure (SPM), which takes into account government transfers and the regional cost-of-living in calculating the poverty rate. According to that calculation, there were 48.7 million people in poverty in the United States, three million higher than the official census figures released last month. The US poverty rate, according to the SPM, was 15.5 percent.

Webmaster's Commentary: 

These numbers are morally, and socially, unacceptable.

Both parties talk a good game about getting the decent jobs back, which used to be the underpinning of a solid middle class.

But the destruction of the Middle Class, by the consistent offshoring/outsourcing of jobs, is no accident.

The major corporations fund both parties to look to the other way while these practices continue apace.

Oct 22 10:52

The Fall Of McDonalds: Special Report

Oct 22 10:24

This is Homelessness in America

Oct 22 09:23

Revealed: How Britain now manufactures more than it did in the 1970s... but with many less people

Britain now manufactures more than it did in the late 1970s, shattering the idea that as a nation we do not make anything any more.

Output last year was 10 per cent higher than in 1978, a new study by the Office for National Statistics said.

However, the proportion of people working in manufacturing has fallen sharply, down from 25 per cent 35 years ago to just 8 per cent now.

Oct 22 08:48

India Gold Demand Surges 450% and Bank of Russia Demand At 15 Year High

Webmaster's Commentary: 

So how is it that the price of gold remains low?

Oct 22 08:25

Saying Good-Bye to Fear of the 1918 Flu

We have had a pandemic run-through already. By now the country's knows the H1N1 pandemic was a dud. Many even know it was fake.

The whole thing was so bizarre that the Eu Parliament investigated as did the British Medical journal, condemning ties between the pharmaceutical industry and flu "experts."

A man at the WHO named Osterhaus has been the main person at the WHO saying that pandemics - SARS, Ebola, Avian flu, swine flu - were going to kill millions.

"Not only is Osterhaus the connecting person in an international network that has been described as the Pharma Mafia, he is THE key advisor to WHO on influenza and is intimately positioned to personally profit from the billions of euros in vaccines ..."

Oct 22 08:15

Oil: Economic lifeblood or disease?

Oct 22 08:08

Dirty money: 19 UK firms alleged ‘complicit’ in $20bn laundering scam

Some 19 British firms are at the center of an investigation into in a mammoth global money-laundering operation. The scheme was allegedly contrived to make $20bn (£12.5bn) of ill-gotten gains appear legitimate.

Oct 22 07:36

Beware the Corporate Takeover of Seed under Many Guises

Monopolisation of seed is not just a European issue but a global one, with international agritech giants buying out independent companies and leaving farmers with little choice but to purchase hybrid or genetically modified seeds in countries like the US. Monsanto bought 200 US independent seed companies over 10 years, with the corporation now estimated to own 23 % of the proprietary seed market (see [3] GM Crops Destroyed by Drought in US while non-GM varieties Flourish, SiS 56). A similar drive for seed monopoly is taking place in the African continent, with SeedCo, one of Africa’s largest home-grown seed companies being bought out by transnational corporations Limagrain, the biggest seed and plant breeding company in the EU. Limagrain is investing US$60 million for a 28 % stake in SeedCo [4]. SeedCo has sold 49 % of its shares in Africa’s only cottonseed company Quton to the Indian company Mayco, a Monsanto subsidiary. Syngenta in 2013 took over Zambia’s MRI seed, which is said to have the most biodiverse collection of maize seed varieties in Africa. South Africa’s largest seed company Pannar Seed was recently taken over by Pioneer Hi-Bred, a subsidiary of DuPont. These acquisitions of seed companies by a handful of corporate giants poses great threats not only to seed biodiversity, but also food sovereignty and people’s access to fresh foods, giving GM companies the chance to spread their patented seeds across the world.

Monsanto, Syngenta and DuPont already own 53% of the global commercial seed market and the following legislative proposals and treaties are set to increase their monopoly [5].

Oct 22 07:35

Fear of Ebola Now Creating Weakness in U.S. Stocks?

The fear of Ebola has caused pressure towards the U.S. stock markets, particularly in the travel sector and aviation stocks. The concern is real, and if it is allowed to grow in the United States, Asia, or Europe, we could see a significant decline in travel demand that could impact the next few quarters, as my stock analysis would suggest.

Webmaster's Commentary: 

The stock market is already in trouble. Indeed it is on life support right now via QE. Ebola just makes a handy scapegoat when it crashes.

Oct 22 07:19

Chicago Drivers Have Wised Up to Speed Cameras, Their Good Behavior is Bankrupting the City

Citizens in Chicago are costing the city tens of millions by obeying the law, giving credence to the notion that crime really does pay, and is not only profitable but necessary for the state to survive.

Oct 22 04:37

Market Turmoil Ahead? ‘Fear Index’ Shows Unprecedented Activity

The VIX index, a measure of how volatile the S&P 500 is likely to be over the next 30 days, is showing unprecedented activity, feeding into concerns that the financial markets are about to experience huge turmoil.

Oct 21 16:53

113 Federal Reserve staff members earn $250,000 annually

Easy money considering all they do is press "Ctrl + p"

Oct 21 15:20

Moldova commits economic suicide for Brussels

During the last CIS summit in Minsk, an unpleasant incident occurred. The journalists, who could hardly hear what the presidents of Moldova and Russia were talking about, assumed that, at some point, the presidents were going to have a verbal fight with each other. The presidents were talking about the Association of Moldova with the EU and the introduction of Russia's sanctions in response.

The unpleasant incident with the verbal fight, which Moldovan President Timofti started at the summit in Minsk, was not incidental.

Oct 21 14:20

£20 Billion British Money Laundering Scam Goes Through Eastern Europe, Ends in HSBC, RBS, UBS and Citibank

This story should raise some important questions about organised crime’s influence on our judicial and economic systems – in times of crisis.

A recent money laundering investigation by a British Newspaper, The Independent (see story below), reveals a complex accounting and legal shell game of British-based front companies, laundering their illicit proceeds through phony lawsuits, followed by massive wire transfers to Latvian and other banks. Money transfers are effectively rubber stamped by corrupt Moldovan judges.

Are these white collar crimes exclusive eastern European gangsters, or do well-known British financial brands also do the same?

Oct 21 13:40

Will Black Friday Be a Bust?

Oct 21 13:19

Floyd Brown Interview: The Government is “Robbing” Americans of Our Wealth

Political commentator and freedom advocate Floyd Brown knows what the U.S. government is up to, and he’s calling Washington on it. In this one-on-one interview, find out why the president of the Western Center for Journalism believes Americans are systematically robbed of their savings through a deliberate devaluation of the dollar. In the face of a dollar that will continue to erode in value, Brown explains how gold and silver – the “historic forms of money” – can help to protect our savings. Plus, discover why he believes that Americans are doing a “grave injustice” if they’re depending on the government in retirement.

Oct 21 11:58

Bill O’Reilly thinks poor people are greedier than rich people

Today’s stunning example of someone projecting all of his own sins and insecurities out onto liberals is Bill O’Reilly, lecturing people who vote for Democrats because we’re supposedly selfish greed heads who are trying to vote goodies for themselves. Goodies like “food” and “not dying”. All the luxuries.

Oct 21 11:34

The Magic Number Is Revealed: It Costs Central Banks $200 Billion Per Quarter To Avoid A Market Crash

We have all seen it countless times before: visual confirmation that without the Fed's (and all other central banks') liquidity pump, the S&P would be about 70% lower than were it is now.

Oct 21 11:34

Big Money Playing an Outsized Role in Primary Elections

In congressional primaries, bigger wallets give a small set of mega-donors an outsized voice, according to new information released today by U.S. PIRG Education Fund and Demos. Just 5,485 donors who gave $1,000 or more to candidates in the primaries outspent the at least 440,362 small donors who gave less than $200, and 65 percent of all candidate contributions came from donors giving chunks of $1,000 or more.

Oct 21 11:34

McDonalds Sales Plunge In Worst Month Since 2003 Following Dollar Meal "Sticker Shock"

But while collapsing MCD sales are a combination of both the insolvent US consumer, who can no longer afford to buy either MCD or Coke (as we commented earlier) especially after purchasing the latest and greatest iThing on credit, as well as shifting tastes and eating the "cool food du jour", things are only going to get worse from here.

Because in a world that is allegedly flooded with deflation, the one place where everyone considered safe for "dollar meals", just got more expensive.

Webmaster's Commentary: 

Plus the food is so full of fillers you can practically taste the sawdust!

Oct 21 11:21

Water Shutoffs Robbing Detroit Residents of 'Dignified' Life: UN Investigators

Detroit's "unprecedented" shutoff of water utilities to city homes condemns residents to "lives without dignity," violates human rights on a large scale, and disproportionately impacts African-Americans, United Nations investigators declared Monday following a two-day inquiry.

Oct 21 10:18

National Debt Passes $17.9 Trillion

Oct 21 10:08

19 Very Surprising Facts About The Messed Up State Of The U.S. Economy

Barack Obama and the Federal Reserve are lying to you. The "economic recovery" that we all keep hearing about is mostly just a mirage. The percentage of Americans that are employed has barely budged since the depths of the last recession, the labor force participation rate is at a 36 year low, the overall rate of homeownership is the lowest that it has been in nearly 20 years and approximately 49 percent of all Americans are financially dependent on the government at this point. In a recent article, I shared 12 charts that clearly demonstrate the permanent damage that has been done to our economy over the last decade. The response to that article was very strong. Many people were quite upset to learn that they were not being told the truth by our politicians and by the mainstream media. Sadly, the vast majority of Americans still have absolutely no idea what is being done to our economy.

Webmaster's Commentary: 

The biggest reality check, for Mike and me, is just going grocery shopping.

Yesterday, I was looking at the relatively small amount of groceries we got, for which we paid a Wiemar-republic sized bill, and the correlation between what we got, and what we paid for it was completely out of whack.

I do not know how people with families are making it, except to get the cheapest foods possible, most probably poisoned with GMO.

And those people who, as their government and banks told them to, have saved all their lives, to see their savings eaten away by inflation?!? They are probably never, ever going to believe anything that any government agency happens to tell them, even, if by wild chance, it is true.

Oct 21 10:03

Greece Is In Full-Blown Stock Market Collapse

As if the world didn't have enough to be worried about (ISIS, Ebola, slowing China, Ukraine, slowing Germany, Fed tightening, etc.) now look what's back: Greece. And in a big way.

The stock market is down over 9% on Wednesday, which is about as big as crashes come.

Oct 21 09:24

WHY ISRAELIS SHOULD JOIN THE BOYCOTT FROM WITHIN

Procter and Gamble (P&G) reduced the contents of a bottle of Head and Shoulders shampoo by 20-33%. The company, which used to marketing the brand in a 750 ml bottle, halted its marketing of this bottle, and began marketing two different bottles: 500 ml and 600 ml. The new bottles are very similar to the old ones, giving the misleading impression that the price was reduced.

Oct 21 09:18

Soros and the CIA Now Banking on Neves to Defeat Rousseff

President Rousseff’s policies have created powerful enemies within the walls of the CIA in Langley, Virginia and among the board rooms of Wall Street and the West’s most powerful corporations. She succeeded in proving the polls and pundits wrong on October 5 but October 26 remains yet another hurdle.

With Brazilian voters wise to Silva’s puppet strings to Soros and other global bankers, she managed to only come in third on October 5. Silva subsequently endorsed Neves, Soros’s second selection to take over the reins of presidential power in Brazil from Rousseff.

Neves’s chief economic adviser and the man who would become Finance Minister in a Neves presidency is Arminio Fraga Neto. A former close friend and associate of Soros and his Quantum hedge fund.

Read more

Oct 21 08:46

Detroit water shut-offs bring U.N. scrutiny

This United Nations Human Rights team has spent the last three days trying to figure out why the shutoffs are necessary.

Leilani Farha and Catarina de Albuquerque led the mission.

"People are living without dignity it's a human rights violation. the city should restore water to those unable to pay," said a representative of the U.N. team.

The mayor's office admits that for years the water department did a poor job collecting money it was owed. Then, when the city filed for bankruptcy last summer under the weight of its own creditors, the department decided to clamp down.

Oct 21 08:45

Citi hikes fees on checking customers

Beginning in January, monthly fees on Citi rewards checking accounts will increase from $20 to $25, and fees on basic accounts will rise from $10 to $12.

Oct 21 08:28

Golden Jackass Rebuttals to Jim Rickards rant

Some people in our community have wondered exactly whose side Jim Rickards is on. Many have recently argued he is nothing more than a mouthpiece for the globalists. Perhaps we should question anyone who is purporting that an SDR currency could be the solution. That is the solution for the globalist thieves. Meet the new boss, same as the old boss. Mr. Rickards was interviewed by Greg Hunter recently. The below are comments from our friend Jim Willie, whom we believe to be one of the best sources of information that doesn’t work for the parasitic cartel of banking thieves.

Oct 21 08:28

Osborne on Course to Miss Borrowing Target as U.K. Deficit Climbs

Osborne had been predicting about 7 percent more income tax this year. Between April and September, it rose just 0.1 percent, while NICs increased 1 percent.

Oct 21 08:24

Government borrowing 10% higher than last year

Government spending pushed borrowing last month to £11.8bn, £1.6bn higher than September 2013 and £1bn higher than City forecasts

Oct 21 08:22

19 Reasons The U.S. Economy Is DONE!

Oct 21 08:15

Italian police uncover €1.7bn corporate fraud

Italian police have uncovered a fraud which they say has cost Italian taxpayers €1.7bn (£1.3bn; $2.2bn).

Two businessmen are accused of setting up the scheme, which used false invoices to bill the state for non-existent security, cleaning and other services.

The fraud, which dates back to 2001, involved 62 people, the police say.

Oct 21 08:05

China opens record breaking 4,000 ft long Bridge?

Interesting pictures and a scary little tale at the end

Oct 21 08:01

Will Our Private Savings Be Sacrificed To Pay Down The Public Debt?

Recently, an article by Daniel Amerman caught our attention. Titled Is There A “Back Door” Method For The Government To Pay Down The Federal Debt Using Private Savings?, it details the process known as financial repression, where sovereign debts are slowly paid off by syphoning private savings from an unaware populace.

Webmaster's Commentary: 

The last official act of any government is to loot the nation.

Oct 21 07:51

McDonald's Franchisees Say The Company Is Bankrupting Them

McDonald's franchisees are furious that the company's aggressive promotions and costly restaurant upgrades are squeezing their profits, according to a new survey.

"Growth for McDonald's is over," one franchisee wrote in response to the survey by the financial services firm Janney Capital Markets.

"I am just hoping to be flat," another franchisee said. "[The] customer has lost faith in the brand."

Oct 21 07:19

Nationalize The Federal Reserve

It’s clear that the gold-hoarding, ISIS-funding, Ebola-creating international bankers are bent on destroying America. Their current flurry of wars and interventions is a desperate attempt to both stave off a deflationary depression and to shut down the giant spotlight increasingly being shown upon them.

At their core they are Nazis, so the black Obama provides the perfect fall guy. There is but one rabbit which Obama can pull out of the hat which will prevent both his and our demise.

He must nationalize the Federal Reserve. And he must do it now.

Webmaster's Commentary: 

Obama won't do it. Presidents who stand up to the bankers get shot at, and Obama lacks courage.

Oct 21 07:18

Counterfeit Euro bank notes in circulation in Gothenburg, Sweden

Police in Gothenburg have been about twenty cases involving counterfeit notes in shops and exchange offices in September. Now go out and Gothenburg Police warn of fraud.

Oct 21 07:10

Swedish banks question customers to comply with US tax rule

All Swedish bank customers will soon be required to prove that they do not owe taxes in the United States according to a new agreement between the countries, and some critics claim it may break EU rules.

Oct 21 07:06

HHS-Funded Study: Obamacare Will Suffer ‘Death Spiral’ If Subsidies Fail

The Obama administration has funded a new study by top consulting firm RAND Health that startlingly finds that if taxpayer subsidies are eliminated, Obamacare exchanges will fall into a “death spiral.”

The study comes in the wake of a number of lawsuits which are challenging the Obama administration’s implementation of Obamacare subsidies. Three lawsuits have made it to U.S. Circuit Courts, just one step from the Supreme Court, arguing that the text of the Affordable Care Act allows premium subsidies for state-run exchanges only. (RELATED: Second Court Strikes Down Obamacare Subsidies In Federal Exchanges)

Webmaster's Commentary: 

And that is on top of the 14% jump in premiums for next year!

Click for larger image

Oct 21 07:05

White House Deletes Obama’s ‘Unpaid Bills’ Admission from Transcript

Last night at a Democratic fundraiser in Chicago, President Obama mentioned that there are some “unpaid bills” on his desk in Chicago–which he left when moved to the White House after winning the presidential election in 2008.

Oct 20 22:59

Up to a million to march for jobs creation in Rome, Italy

Up to a million protesters will descend on Rome on Saturday to call for job creation and greater investment in the economy, the secretary general of union CGIL said on Monday.

Oct 20 20:26

Thousands of federal workers on extended paid leave

Tens of thousands of federal workers are being kept on paid leave for at least a month — and often for longer stretches that can reach a year or more — while they wait to be punished for misbehavior or cleared and allowed to return to work, government records show.

Oct 20 19:49

Americans’ Gloom Marches Into Second Decade

The depressive donkey in A.A. Milne’s “Winnie the Pooh” stories pretty much matches the mood of Americans lately, according to the new Wall Street Journal/NBC News poll released last week. When 1,000 potential voters were asked whether they think the nation is on the right or wrong track, 65% of them said the country had taken a wrong turn, and only 25% said the U.S. was on the right path.

Oct 20 18:44

The Neocons — Masters of Chaos

If you’re nervously watching the stock market gyrations and worrying about your declining portfolio or pension fund, part of the blame should go to America’s neocons who continue to be masters of chaos, endangering the world’s economy by instigating geopolitical confrontations in the Middle East and Eastern Europe.

Oct 20 18:27

Officials warn 500 million financial records hacked

Federal officials warned companies Monday that hackers have stolen more than 500 million financial records over the past 12 months, essentially breaking into banks without ever entering a building.

Oct 20 18:15

Britain is on the brink of becoming a nation permanently divided between rich and poor, poverty commission warns

Britain is on the brink of becoming a nation permanently divided between rich and poor, according to the Social Mobility and Child Poverty Commission in its second annual state of the nation report.
The 335-page document is likely to be a reference point against which the government’s anti-poverty record will be judged, and to feature strongly in opposition party manifestos for the 2015 general election.

Oct 20 18:11

either you’re the butcher or you’re the cattle

“Art is the lie that enables us to realize the truth.”
? Pablo Picasso

snip: though the line between reality and fiction is often indistinguishable when you turn on the news, but the distinction between butchers and cattle is clear. The elected and non-elected rulers of the deep state are the butchers, sending young men off to die for oil companies and arms dealers, impoverishing the masses through inflation and their control of the currency, and enriching themselves through their complete control of the political, financial, judicial, and economic systems. This establishment, or invisible government as Bernays described, is committed to its own enrichment and perpetuation. Its scope, financial resources, and global reach put it in a predator class all by itself.

Oct 20 17:07

Big move for vol of vol

Oct 20 13:55

How The Federal Reserve Is Purposely Attacking Savers

There’s something we ‘regular’ citizens wrestle with that the elites never seem to: a sense of moral duty.

For example, following the collapse of the housing bubble, many people struggled with mortgages they could no longer afford to pay, fearing the shame of default. Many believed defaulting was wrong somehow; that it was their moral obligation to pay their mortgages, no matter how dire their personal situation. And of course, the mortgages lenders did their utmost to reinforce this perception.

Oct 20 13:24

This Will Make 2008 Look Like a Picnic

Oct 20 13:19

Nearly half of cardholders likely to avoid stores hit by data breaches

As data breaches exposing consumer credit card, debit card and other personal information become more common, nearly half of cardholding shoppers say they're reluctant this holiday season to return to stores that have been hacked, according to a new survey by CreditCards.com.

Forty-five percent of respondents with credit or debit cards said they would definitely or probably avoid one of their regular stores over the holidays if that retailer had experienced a data breach. Sixteen percent said they definitely would not return to a retailer if the store had been hacked and 29 percent said they probably would not shop at such stores. Just one in eight said they are more likely to shop with credit cards this season.

Oct 20 12:57

Shocking Stat: Modern-Day America Has 870,000 Slaves

Imagine getting a job washing dishes, in a windowless room fogged by the steam of a 200-degree dishwasher. You are required to show up for your eight-hour shift every day, whether or not you are sick, and your supervisor won’t take any action if you injure yourself on the job or have to work overtime. Your compensation for this grueling, dehumanizing work? $2 a day.

Oct 20 12:13

Up to 34 MILLION blank 'green cards' and work permits to be ordered ahead of Obama illegal immigrant 'amnesty'

U.S. Citizenship and Immigration Services plans to seek a vendor to produce as many as 34 million blank work permits and 'green cards' – the paperwork that authorizes illegal immigrants to live and work in the United States – as the White House prepares to issue an executive order after the Nov. 4 midterm elections.

Oct 20 12:11

One-third of working Americans support two-thirds of the population: The hidden figures of those not in the labor force and transfer payments.

The unemployment rate dropping dramatically has largely been driven by this category expanding and labor force participation is at generational lows. You also have spending growing in the form of military, Medicare, and Social Security that are now eating up a larger portion of the budget. Deficit spending continues to occur in the face of a booming economy. Why? The math shows that one-third of private sector workers are supporting two-thirds of the population.

Oct 20 11:43

Domestic car sales decline 1.03% in September

Oct 20 11:26

We’ll Slash Benefits For 100,000 Families And Young People To Fund Apprenticeships, Says Cameron

A future Tory Government would slash benefits for around 100,000 struggling families and young people to fund more low-paid apprenticeships, Prime Minister David Cameron will pledge on Monday.

Webmaster's Commentary: 

Bringing back Serfdom!

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA