ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Aug 22 17:51

Overstock CEO Patrick Byrne quits as ‘deep state’ remarks cause uproar

With his company’s stock in free fall, Overstock.com CEO Patrick Byrne resigned as CEO on Thursday effective immediately, after he stunned investors by disclosing his entanglements with the “Deep State” as we reported previously.

Byrne, 56, who founded the company in 1999 and took it public three years later, will be succeeded by director Jonathan Johnson who was with the company for 17 years and has recently served as president of Overstock’s blockchain business, Medici Ventures.

Aug 22 13:13

Mapping Out Mortgage Debt Across the U.S.

Aug 22 12:31

Venezuela’s Health Care System Is in Shambles, but Markets Are Already Responding

By Byron Carson

Hospitals are supposed to help people, not become a source of their ailment. Generally, hospitals do help people. According to the data and graphing tools of Gapminder, rates of child mortality and malnourishment are negatively correlated with the number of physicians per 1,000 people and the number of hospital beds per 1,000 people. Similarly, the percentage of a population surviving to age 65 increases with the number of physicians and hospital beds.

Aug 22 12:12

What a Nobel Peace Prize, the Federal Reserve, and Endless War Have in Common

By Joe Jarvis

It was ten years ago that Congressman Ron Paul released his book, End the Fed. It immediately shot to number six on the New York Times Bestsellers list.

Paul’s message was that the Federal Reserve was created to bail out banks. It privatized profits for them and socialized losses for the rest of us. He said the system works against us by killing competition among banks and hiding taxes through inflation.

War funding is the main reason the government needs this hidden tax power...

Aug 22 11:16

Tariffs Accelerate Trucking and Shipping Slide

By Peter C. Earle

Trucking and transportation firms more broadly are both seasonal and cyclical businesses, and some of the earliest signs of damage from the current administration’s trade war with China are beginning to reveal themselves. Traditionally a leading indicator, transportation and shipping data often take two to three quarters to show up in broader national economic statistics. They have the added benefits of being without the anchoring biases that other economic indicators are and, being drawn from disparate sources, cannot easily be manipulated.

While truck, air transport, and maritime shipping activity were brisk in the early stages of the tariff war last summer (2018) — and even referred to as a “boom” at the time — the pace of the downturn over the last six to eight months makes the reasons behind last summer’s improbable surge clear: retailers were hurriedly attempting to stock inventories in advance of additional hostilities or stalled negotiations...

Aug 22 10:58

Top 10 Signs We Are Entering a Recession

Aug 22 10:11

American Apocalypse: The Government’s Plot to Destabilize the Nation Is Working

“The most dangerous man to any government is the man who is able to think things out … without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” — H. L. Mencken

The U.S. government is working hard to destabilize the nation.

No, this is not another conspiracy theory.

Although it is certainly not far-fetched to suggest that the government might be engaged in nefarious activities that run counter to the best interests of the American people, doing so will likely brand me a domestic terrorist under the FBI’s new classification system.

Observe for yourself what is happening right before our eyes.

Aug 22 09:21

Yemen: Coalition Warships Attack Fishing Boats

(Beirut) – Saudi-led coalition naval forces have carried out at least five deadly attacks on Yemeni fishing boats since 2018, Human Rights Watch said today. Coalition warships and helicopters have been involved in attacks that killed at least 47 Yemeni fishermen, including 7 children, and the detention of more than 100 others, some of whom were tortured in custody in Saudi Arabia.

The coalition attacks on fishermen and fishing boats appear to be deliberate attacks on civilians and civilian objects in violation of the laws of war. Coalition officials who ordered or carried out the attacks or tortured detainees are most likely responsible for war crimes.

Aug 22 09:13

How Will Airports Keep Up With Travel Demand?

Aug 22 08:44

Our Wile E. Coyote Federal Reserve

Aug 22 08:15

Central Banks Are Purchasing Gold at Record Highs. Why?

By Nicholas Anthony

As reported by Dion Rabouin at Axios, an unprecedented shift toward gold has been led by the financial authorities of the world in what appears to be a move away from the US dollar.

The World Gold Council reported that central banks bought a historic high of 374.1 tons of gold this year. While this move accounts for only 16 percent of total gold demand, it offers an inside look into the minds of the central bankers. It was only seven years ago that a survey of economists revealed significant disagreement with regard to the potential benefits of a gold standard. Do central bankers not agree with leading academic economists or is a different motive at play?...

Aug 22 08:12

GDP Ain’t What it Used to Be!

Aug 22 08:08

Strategic analysis on the construction of new energy corridor China–Pakistan–Iran–Turkey

Highlights

This paper explores the current situation of cross-border energy pipelines of China, Pakistan, Iran and Turkey. Then it analysis strategic objectives of the four countries.


It is proposed to build China-Pakistan-Iran-Turkey energy corridor between China, Pakistan, Iran and Turkey, which is of great significance to realize the energy strategic objectives of the countries.

Aug 22 07:39

What’s Russia Up to in the Iranian Port of Chabahar? The North-South Transport Corridor (NSTC)

There have been wild reports over the past few weeks about Russia’s activities in the Iranian port of Chabahar, with some sources even alleging that Moscow plans to open up a naval base there.

***

An interesting sequence of events has recently taken place that makes many wonder what Russia’s up to in the Iranian port of Chabahar. It’s widely known that Russia, Azerbaijan, Iran, and India are cooperating on the North-South Transport Corridor (NSTC) project to integrate each of their economies more closely together, with Chabahar being this initiative’s terminal port in connecting India to the other three and also Central Asia.

https://oilprice.com/Latest-Energy-News/World-News/Iran-Aims-To-Start-...

https://oilprice.com/Latest-Energy-News/World-News/Chinese-Constructio...

Aug 22 07:34

Seattle residents blame inefficient elected officials for homeless problem, say they've 'lost faith' in system

The District of Criminals bears most of the responsibility for the destruction of America and its' People.

SEATTLE -- The richest man in America calls Seattle home. So do thousands of others who are forced onto the streets because they are too poor, too addicted or too detached from reality. At night, the city's homeless sleep wherever they can -- in tents crammed in parking garages, in parks or under highway overpasses. Some feel victimized by a society that has moved on without them. Others feel preyed upon by politicians eager to push pet projects and scattered initiatives that make themselves look good but do little else. Sick of stepping over used condoms, broken lighters and needles, residents say they are heartbroken to see the city they've loved turn into a dangerous, drug-infested den of filth and human misery.

Aug 22 07:29

Amazon workers hospitalized after warehouse robot releases bear repellent

An Amazon robot tore open a can of bear repellant at the company's New Jersey warehouse on Wednesday, hospitalizing 24 workers. One employee is in critical condition, according to ABC News, while 30 others were treated on the scene. The 1.3-million-square-foot Amazon fulfilment center in the town of Robbinsville, New Jersey, employs more than 3,000 people.

Aug 22 07:27

Amazon, Microsoft, 'putting world at risk of killer AI': study

Washington (AFP) - Amazon, Microsoft and Intel are among leading tech companies putting the world at risk through killer robot development, according to a report that surveyed major players from the sector about their stance on lethal autonomous weapons.

Aug 22 07:22

Roughly Half of Trump Voters Would At Least Partially Blame Him for a Recession

The economics are controlled by the central banksters privately owned federal Reserve,not by Trump or any other politician.
As long as the American people keep voting and voting for democrats and republicans this country is doomed.
We need a repeat of 1776. The chances of that happening with the fat,lazy,ignorant,insouciant,apathetic population we have are zero to nil!
Better get ready for one hell of a Nantucket Sleighride!

President Donald Trump has promised a booming economy as a key part of his 2020 pitch. Voters — including his own supporters — might hold him to that.

Aug 22 07:12

Zendrive Can Turn Drivers Smartphones Into Insurance Surveillance Devices

By MassPrivateI

Leave it to Zendrive to create a safe driving app that can turn your smartphone into an insurance surveillance device.

Zendrive encourages people and companies to download their safe driving app which uses a person’s smartphone to detect unsafe driving habits.

Their video claims that they do not track or identify individual drivers, but towards the end of the video they boast that “it is easy to identify, coach and improve unsafe drivers.”...

Aug 21 09:34

Fat cat bosses earn 117 times more than average UK worker, despite pay-cut – report

A new report from the High Pay Centre and Chartered Institute of Personnel and Development (CIPD) – an independent non-party think tank – shows that the (average) median pay of FTSE100 bosses was actually down 13 percent in 2018, but still a huge £3.46 million.

The research also shows that CEOs’ pay dwarfs that of the average (median) full-time worker’s salary which stands at £29,574 per year, meaning they take home 117 times more cash.

Aug 21 09:33

Japan exports, RV sales, Tariff delays

Aug 21 09:21

Federal Reserve. Not Federal. No Reserves.

Aug 21 09:15

Just When You Think You Own Your Own Private Property…

By Simon Black, Sovereign Man

Tom turned 60 recently, and he’s thinking about retirement. After two decades of cracking eggs and frying bacon at his restaurant, he’s ready to spend more time with his family. And fortunately for Tom, he’s sitting on an extremely valuable asset: his real estate. Tom’s diner is located in downtown Denver in an area that has been heavily redeveloped.

In fact, a local real estate developer offered Tom nearly $5 million for his land; it’s an ideal spot to build condominiums given how popular downtown Denver has become.

After hearing about the deal, five local residents filed an application with the city to have Tom’s Diner declared a historic landmark...

Aug 21 09:09

Portland residents, business owners want city officials to 'fix' homeless problem

PORTLAND, Ore. – In the summer of 2019, Fox News embarked on an ambitious project to chronicle the toll progressive policies have had on the homeless crisis in four West Coast cities: Seattle, San Francisco, Los Angeles and Portland, Ore. In each city, we saw a lack of safety, sanitation and civility. Residents, the homeless and advocates say they've lost faith in their elected officials' ability to solve the issue. Most of the cities have thrown hundreds of millions of dollars at the problem only to watch it get worse. This is what we saw in Portland.

Aug 21 08:40

The Real Reasons Why The Media Is Suddenly Admitting To The Recession Threat

By Brandon Smith

One thing that is important to understand about the mainstream media is that they do tell the truth on occasion. However, the truths they admit to are almost always wrapped in lies or told to the public far too late to make the information useful. Dissecting mainstream media information and sifting out the truth from the propaganda is really the bulk of what the alternative media does (or should be doing). In the past couple of weeks I have received a rush of emails asking about the sudden flood of recession and economic crash talk in the media. Does this abrupt 180 degree turn by the MSM (and global banks) on the economy warrant concern? Yes, it does...

Aug 21 07:51

Obamas To Release Anti-Trump Movie On Netflix

Aug 21 07:37

IN "EXPLOSIVE" LAWSUIT WALMART SUES TESLA OVER SOLAR PANEL FIRES, CLAIMS SOLARCITY PURCHASE WAS A BAILOUT

SOURCE: ZEROHEDGE
Until now, the general public was only aware of the remarkable ability of Tesla cars to spontaneously combust, that is at least when they are not smashing into random things while on autopilot. It now appears that Tesla's solar panels (some may be unaware that several years ago, Elon Musk tried to unsuccessfully pivot Tesla into a solar power company as well as that's where a few billion in government subsidies were to be found) are just as combustible.

On Tuesday, Walmart sued Tesla, after its solar panels atop seven of the retailer’s stores allegedly caught fire, alleging breach of contract, gross negligence and failure to live up to industry standards. Walmart is asking Tesla to remove solar panels from more than 240 Walmart locations where they have been installed, and to pay damages related to all the fires Walmart says that Tesla caused.

Webmaster's Commentary: 

I honor this man's genius, but he absolutely needs a "business nanny", who can help avoid incidents like this, by insisting on a strict, unimpeachable quality control protocol, for ANY of the products which bear his name.

Aug 21 07:32

TALIBAN PEACE TALKS MUST NOT IGNORE CIA-FUNDED AFGHAN MILITIAS, REPORT SAYS

SOURCE: THE INTERCEPT

After 18 years of war, and months of direct talks, the United States appears to be on the brink of reaching an unprecedented peace agreement with the Taliban that would bring about U.S. troop withdrawal from Afghanistan.

A draft agreement was reached in March, and negotiators in Qatar have reportedly been ironing out the details ahead of a September 1 deadline — including exactly when U.S. troops will withdraw and when a permanent ceasefire between the parties will take effect. The U.S. is reportedly also seeking assurances from the Taliban that it won’t harbor foreign terror groups like ISIS and Al Qaeda and will engage in dialogue with the Afghan government after the U.S. military leaves.

Webmaster's Commentary: 

As much as President Trump desperately needs a win here, ahead of the 2020 elections, I am not holding my breath,, that an accord will actually be reached, before the 1 September deadline.

And the reason I say this, is that there are too many unexploited resources desired by the world's leaders, that they will really ever be willing to let Afghanistan go.

As stated by a Google Article regarding mining in Afghanistan:

"Afghanistan has over 1,400 mineral fields,[1][2][3] containing barite, chromite, coal, copper, gold, iron ore, lead, natural gas, petroleum, precious and semi-precious stones, salt, sulfur, talc, and zinc, among many other minerals.[1][4] Gemstones include high-quality emerald, lapis lazuli, red garnet and ruby. According to a joint study by The Pentagon and the United States Geological Survey, Afghanistan has an estimated US$3 trillion[5] of untapped minerals."

You have to look at this with the sang froid eye of a violently, unhinged, despotic government, which wants to regime change a country, to make it more western centric, and expropriate resources to which the US government has no right, then selling them only for US dollars.

This is the MO the US has taken, ever since the invasion of Iraq, and the consistent pattern is so in your face, that I become thoroughly amazed when Americans don't get it.

Don't get me wrong; I would love for peace to happen for Afghanistan; however, given the embarrassment of riches this country has, I wouldn't expect this peace to last very long.

But a country attempting to stabilize Afghanistan right after the US leaves, will be China.

And the interesting thing about that, is that China, in its growth, doesn't want to fire a single shot;they want to make deals, as their way of broadening their economic reach, and clout.

Slowly but Surely, China is moving into Afghanistan

Feature: Direct flights between China, Afghanistan promote trade, people-to-people exchanges

This should be a "teachable moment", to the US government, but most probably will not be.

And I say that, because relations between China and the US have absolutely plummeted, under the watch of President "Wreck-it Donald" Trump. The issues concerning the South China Sea, and the US treatment of Taiwan,have not earned him much support in Beijing, not to mention the sanctions and tariffs which have been placed against various Chinese individuals and corporations.

Losing Afghanistan, through a series of Afghani agreements with the Chinese, will prove to be one of the most stinging, dismal failures of President Trump's record, if the future trajectory of Chinese/Afghani relations continues to hold true.

Aug 20 15:12

The Fed's Math Problem

Aug 20 13:59

Court Rules That “Patent Troll” is Opinion, Not Defamation

By Joe Mullin

Free speech in the patent world saw a big win on Friday, when the New Hampshire Supreme Court held that calling someone a “patent troll” doesn’t constitute defamation. The court’s opinion is good news for critics of abusive patent litigation, and anyone who values robust public debate around patent policy. The opinion represents a loss for Automated Transactions, LLC (ATL), a patent assertion entity that sued more than a dozen people and trade groups claiming it was defamed.

EFF worked together with the ACLU of New Hampshire to file an amicus brief [PDF] in this case, explaining that the lower court judge got this case right when he ruled against ATL. That decision gave wide latitude for public debate about important policy issues—even when the debate veers into harsh language. We’re glad the New Hampshire Supreme Court agreed...

Aug 20 11:21

Americans’ Yearly Spending on Drugs Now on Par With Alcohol: Report

Spending on cannabis, cocaine, heroin and methamphetamine by Americans reached nearly $150 billion in 2016, with a large proportion of spending coming from the small share of people who use drugs on a daily or near-daily basis, according to a new RAND Corporation report.

Researchers estimate that from 2006 to 2016, the total amount of money spent by Americans on these four drugs fluctuated between $120 billion and $145 billion each year. By contrast, a different analysis finds that spending on alcohol in the U.S. was estimated to be $158 billion in 2017...

Aug 20 11:08

Are Recessions Inevitable?

Aug 20 11:06

Asia Exports to China (July)

Aug 20 10:15

Inside the world of negative interest-rates

Aug 20 10:10

It's Official: Trump Makes First Demand For Fed To Restart QE, Urges 100bps Rate Cut

One week ago, when we discussed that as a result of the accelerated rebuild of cash by the US Treasury, first Bank of America, then JPMorgan suggested that the Fed may be forced to restart QE soon as a result of the upcoming sharp drop in liquidity, we said that "apparently this is something that the Fed, which until recently was engaging in additional liquidity draining via QT, was unaware about, and since a return of QE - something that Trump has yet to demand - would cause all sorts of political problems and demand lengthy congressional explanations."

Fast forward to today, when what we expected would happen, happened as Trump made his first official demand for "some quantitative easing" (even if Congress may choose to eventually stay out of this as both political parties are now desperate for the Fed to resume monetizing the US deficit on the road to helicopter money, i.e. MMT).

Aug 20 09:57

US Sanctions Backfire, Lead To Boost In Russian Oil Exports

U.S. sanctions against Venezuela and Iran have had an unplanned side effect: they have increased exports of heavy, sour crude from Russia, Bloomberg reports, adding that calculations have shown Russian oil companies raked in an additional US$905 million at least from these sales between November and July.

The Urals blend is the big winner of the U.S. sanctions, according to Bloomberg’s calculations. Venezuela is one of the main global suppliers of heavy crude, but U.S. sanctions have shrunk its exports significantly. Iran also produces heavy, which has now become less readily available to foreign buyers, freeing up space for Urals. Finally, OPEC members prioritized cutting their heavy crude production as part of their December 2018 agreement and that added to the strain on heavy crude supply.

Aug 20 09:27

Images show Iran satellite launch looms despite US criticism

Read the comments. It would appear that many Americans are friendly towards Iran.

DUBAI, United Arab Emirates (AP) — Iran appears to be preparing another satellite launch after twice failing this year to put one in orbit, despite U.S. accusations that the Islamic Republic's program helps it develop ballistic missiles.

Satellite images of the Imam Khomeini Space Center in Iran's Semnan province this month show increased activity at the site, as heightened tensions persist between Washington and Tehran over its collapsing nuclear deal with world powers.

Aug 20 09:20

The Way Not to Fix Education, Housing, and Health Care

By Daniel J. Boudreaux

As long as the reality of human existence remains on the imperfect side of paradise — mired in scarcity, often unpredictable, and always carrying at least a small risk of calamity for each individual as well as for groups — some people will complain about the state of reality. Indeed, as human welfare improves, such complaints grow more frequent and fervent. If nearly everyone’s life is miserable, and if such misery is all that we know and remember, we accept misery as an unalterable condition of existence, much as we accept as unalterable our inability to fly by flapping our arms.

But as the masses have become materially more prosperous, the possibility of even greater prosperity has become more evident. And so any shortfall of the masses’ current prosperity from what can be imagined or plausibly foreseen strikes many as an intolerable condition that should be remedied forthwith.

Aug 20 08:54

Typical market top behavior?

Aug 20 08:37

Putting Prog-Globalism Before Profits

The CEOs of Amazon, Apple, Goldman Sachs, Raytheon and nearly 200 other companies want you to know they're down with woke capitalism.

Aug 19 20:03

Gregory Mannarino: Prelude To THE BIG ONE

Aug 19 20:03

Safe Haven Appeal Sends Gold Above $1,500

Aug 19 19:32

11 Reasons Why So Many Experts Believe That A U.S. Economic Crisis Is Imminent

By Michael Snyder

The numbers are telling us that we have never been closer to the next recession than we are right now. The storm clouds that were gathering on the horizon are now directly above us, and suddenly the mainstream media is filled with stories about when the next recession will begin and the effect that this may have on President Trump’s chances of winning in 2020. In fact, there has been so much chatter about this that even President Trump is talking about it. All over television, experts are breathlessly speculating about when the coming recession will begin, and they are dispensing lots of advice about how people should be preparing for it.

So what evidence has led so many of these talking heads to come to such a conclusion?

Well, the following are 11 reasons why so many experts now believe that a U.S. economic crisis is imminent…

Aug 19 18:28

A Wobbling Stock Market

Aug 19 14:00

HMMMM...Are We Headed for a Recession?

Aug 19 13:58

Trump Driving Dollar OFF A CLIFF!

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