ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Nov 13 13:30

National Facial Recognition Database to Use Loyalty Rewards to Identify American Shoppers

The article ends on a disturbing quote, “the infrastructure in this case is people’s perspective. That can change quickly.” -- Our perspectives had better change or corporate America will buy everyone’s identity using rewards programs and the ability to skip check-in lines.

Nov 13 12:58

US Farmers Are Stashing Soybeans In Toolsheds And Caves As They Wait Out Trade War

Amid China's worsening trade-war fueled economic slide, the Communist country's April decision to slap a 25% tariff on imports of US soybeans has remained one of its most rewarding retaliatory maneuvers. So far, at least, the food-price inflation that many feared would follow hasn't materialized - while the plunge in soybean purchases (imports to China fell 94% between the beginning of September and mid-October) has helped maximize the pressure on Trump-supporting farmers in North Dakota, Iowa and across the US farm belt.

Nov 13 12:58

Trouble Brewing In Hong Kong

When the British took Hong Kong over in the late 1800s, it was nothing more than an irrelevant backwater made up of fishing villages and illiterate fishermen.

But after a few decades, it became one of the most prosperous places in the world.

Nov 13 12:56

The Biggest Threat To Dollar Dominance

Russian oil exporters are pressuring Western commodity traders to pay for Russian crude in euros and not dollars as Washington prepares more sanctions for the 2014 annexation of Crimea by Moscow, Reuters reported last week, citing as many as seven industry sources.

Nov 13 12:55

NY taxpayers to pay $48,000 per Amazon HQ job

New York state is kicking in more than $1.5 billion in taxpayer-funded incentives for getting half of Amazon's second headquarters located in a section of Queens.

The Seattle-based company made its long-awaited announcement Tuesday, saying Long Island City and Alexandria, Virginia, will each get 25,000 jobs. The online retailer also said it will open an operations hub in Nashville, creating 5,000 jobs.

Amazon will also receive as-yet unspecified incentives from New York City.

New York state's incentives are nearly triple those of Virginia's, while Tennessee's are $102 million.

Nov 13 12:46

Here Is How Walmart Plans To Seize Further Control Of Your Community 

At the most recent International Council of Shopping Centers (ICSC) conference in Atlanta, Walmart announced new plans to repurpose twelve of its locations into Town Centers -- an outdoor gathering area with seating, community activities, entertainment, dining facilities, jogging paths, fountains, green spaces, playgrounds, and even space for live music.

The idea behind Walmart's seismic shift is that it wants to recreate the downtown of small communities that it was instrumental in destroying.

“We want to provide community space, areas for the community to dwell,” said L.B. Johnson, vice president of realty operations for Walmart in his ICSC keynote speech.

Nov 13 12:45

This Year, Ironically, First U.S. Deficit Record In 12 Years

According to the latest U.S. Census Bureau data, the U.S. trade deficit will almost certainly set a record in 2018 for the first time in 12 years , new data suggests for the first time.

It's been a remarkable run without a deficit. To provide context, prior to 2006, the last record-setting year, the United States had set a record 11 of the previous 12 years.

It is also not without irony that the run of years without a deficit would come to an end under President Trump.

Trump, first as a candidate and since as president, has complained loudly and vociferously about how other countries, particularly but not exclusively China, have taken advantage of the United States, leading to large trade deficits.

Nov 13 09:52

Are US Equities Flashing a 'Crash Signature'

Nov 13 08:07

Your Daily Rescue Update

Nov 13 07:52

John Rubino – Panic Setting In?

Nov 13 06:38

Do You Really Need Half Your Money In Stocks?

Nov 13 06:06

This Wasn’t Supposed To Happen…

Nov 13 05:18

A Palpable Sense Of Panic

Nov 13 00:54

Peter Schiff: Divided Congress Means Even Bigger Deficits

Economic advisor Peter Schiff has long been warning of the false stability and phony prosperity we are seeing the markets. He’s now saying that since the elections, it is about to get much worse, as a divided Congress means even bigger deficits.

Nov 12 19:09

The Economic Consequences Of Debt

Nov 12 16:52

Understanding the Global Recession of 2019

Nov 12 12:16

Trouble brewing in Hong Kong

Nov 12 12:00

Trouble In The Sam’s Club Tent City

It seems that the state and federal governments once again are proving their inabilities to cope with another large scale natural disaster. Recently there’s been a spate of problems at a tent camp at a Sam’s Club in Panama City, Florida. Workers, many of whom who came from out of state to find work in Panama City cannot afford or find hotels rooms to stay in while they do their work in the area. So some of them had gotten together and setup a tent encampment at the Sam’s Club parking lot...

Nov 12 10:53

France, Germany Could Host Iranian Payment Vehicle to Side-Step US Sanctions

Despite the rumors that no one is willing to host the trade mechanism over fears of US sanctions, France or Germany have been named as the most viable options.

Either France or Germany might become the host nation for the European clearing house, usually referred to as a "special purpose vehicle" (SPV) — a payment mechanism that would allow European companies to bypass US-imposed sanctions on Iran.

The establishment of this mechanism is widely viewed as the moment of truth on whether the EU is genuinely ready to live up to its promise to keep the so-called Iranian nuclear deal. And, as US sanctions kicked in on November 5, Tehran is becoming more restless regarding the establishment of the SPV, the Guardian notes.

Iranian Deputy Foreign Minister Kazem Sajjadpour has already expressed his frustration at the pace with which the SPV is being set up, saying: "What is lacking is both speed and efficiency."

Webmaster's Commentary: 

So what happens when all of these countries adopt a payment mechanism which completely bypass US sanctions on Iran?!?

Is President Trump prepared to go to war with all of them, for ignoring US sanctions, and buying Iranian crude?!?

Nov 12 10:52

The Stories We Tell About Money - aantonop


Published on Apr 30, 2017
In this talk, Andreas recounts the history of Bitcoin and what it represents, building upon all the stories we've been told over the centuries about what "money" is, how we perceive its value, and why the old answers have changed as we adjust to this new world of digital peer-to-peer currencies. He also discusses global threats to economic stability and trust in the financial system, including demonetisation and wealth destruction through inflation.

Nov 12 10:49

GPS signals jammed: Norway, Finland warn pilots Russia may blind their navigation systems

In recent weeks, NATO conducted its largest military exercises in decades in the frigid waters and icy mountains of Norway. But something odd happened. The GPS signals guiding ships, aircraft, tanks, trucks and troops started to fail.

Civilian airliners, cars, trucks, cargo ships and smart phones operating in and around Norway and Finland experienced similar disruptions.

Why?

Russia is the chief suspect.

It was riled by the scale and location of NATO’s Trident Juncture manoeuvres — despite having itself conducted several massive military exercises in the Baltics recently.

Webmaster's Commentary: 

More Russia demonization, and absolutely no hard proof that Russia is, in fact, culpable here.

Nov 12 10:17

An Alarming Graph

Nov 12 08:02

Money Velocity Is Starting To Turn Up Again

Nov 12 05:21

Understanding the Global Recession of 2019

Nov 11 17:37

10 years after the recession, Americans wake up to rising prices

After years of low, low prices, fed by near-zero interest rates in a convalescing economy, Americans are waking up to costlier consumer living. -- Everyday household staples like diapers, toothpaste, shampoo and dishwashing liquid -- not to mention soft drinks, cookies, chocolate, cat litter and autos -- have all started getting more expensive, a trend expected to continue early next year.

Nov 11 09:33

Russia Clashes With Western Oil Buyers Over New Deals as Sanctions Loom

Russian energy majors are putting pressure on Western oil buyers to use euros instead of dollars for payments and introducing penalty clauses in contracts as Moscow seeks protection against possible new U.S. sanctions.

Seven industry sources told Reuters that Western oil majors and trading houses have clashed with Russia's third and fourth biggest producers, Gazprom Neft and Surgutneftegaz, over 2019 oil sales contract terms during unusually tough annual renegotiation in recent weeks.

The development mirrors a similar stand-off between Western buyers and Russia's top oil producer, Rosneft.

Earlier this week, trading sources told Reuters that Rosneft wants Western oil buyers to pay penalties from 2019 if they fail to pay for supplies in the event that new U.S. sanctions disrupt sales.

Webmaster's Commentary: 

What concerns me greatly here, is how trade wars can morph into shooting wars.

I would like to hope that both President Trump and President Putin have the horse-sense to understand this, and will act rationally here.

But feel compelled to tell you; with President Trump, sometimes I see his behaviour as exceptionally mercurial, and that will do no one any good, if he puts his imprimatur on what comes down to rash decisions from the White House.

Nov 11 07:56

U.S. Stocks Drop on Global Growth Worries

Nov 10 17:58

Why Are so Few Americans Able to Get Ahead?

Despite the rah-rah about the "ownership society" and the best economy ever, the sobering reality is very few Americans are able to get ahead, i.e. build real financial security via meaningful, secure assets which can be passed on to their children.

Nov 10 12:00

New Home Inventory Forecasts A Recession

Nov 10 10:14

Trump Threatens To Cut Wildfire Funding Unless Cali Ends "Gross Mismanagement Of Forests"

As the wildfires ravaging Northern and Southern California destroy billions of dollars worth of real estate, President Trump reminded the world in a Saturday morning tweet that global warming - which many (on the left in particular) have blamed for the fires - isn't the responsible for the fires. Rather, California's inept forest-management strategies have left the state vulnerable as drought-like conditions have transformed the state's densely packed forests into a bed of kindling, just waiting to be set off by a stray cigarette butt.

In a tweet that seems almost tailor-made to trigger the left, President Trump threatened to revoke the "billions that are given each year" to the state if California doesn't address the "gross mismanagement" of its forests and take more steps to mitigate the fires.

Nov 10 10:02

Clueless Journalist Gets Dragged For Saying ‘America Isn’t At War’ In Election Day Tweet

Klein, the founder and editor-at-large for Vox.com, made the claim in a tweet about the mid term election on Tuesday, opining on why the Democrats took the House of Representatives. Comparing 2018 to 2008 — when Democrats took power amid a war in Iraq and Afghanistan — Klein argued that the Tuesday election was a “pure repudiation” of Trump, since unemployment was so low and America was no longer at war.

The only problem, of course, is that America is still at war in the same places it was in 2008, in Iraq and Afghanistan — albeit with a smaller footprint. And U.S. troops are still fighting and dying there: On the same day as Klein’s tweet, the remains of Army Maj. Brent Taylor touched down at Dover Air Force Base in Delaware; he was killed Saturday in Afghanistan, leaving behind a wife and seven children.

Webmaster's Commentary: 

From his abysmally tone-deaf evaluation that "the US is not at war", This man must be a Common Core graduate, because he demonstrates absolutely zero ability to do any critical thinking about what he doesn't see in the corporate media, and because of it, is a very "useful idiot" for the American Deep State.

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