ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 18 13:11

How to Retire Rich Without Social Security

Jun 18 13:10

Will Chicago Real Estate Ever Rise Again?

Jun 18 11:37

Iran at the center of the Eurasian riddle

With the dogs of war on full alert, something extraordinary happened at the 19th summit of the Shanghai Cooperation Organization (SCO) late last week in Bishkek, Kyrgyzstan.

Virtually unknown across the West, the SCO is the foremost Eurasian political, economic and security alliance. It’s not a Eurasian NATO. It’s not planning any humanitarian imperialist adventures. A single picture in Bishkek tells a quite significant story, as we see China’s Xi, Russia’s Putin, India’s Modi and Pakistan’s Imran Khan aligned with the leaders of four Central Asian “stans”.

Jun 18 11:29

Suicide Rate Soars In America — Why Are So Many Americans Killing Themselves?

‘Deaths of despair’ in the U.S. hit a record high – so how bad will things get when society starts to completely collapse?

Jun 18 08:54

What to do with a problem like Deutsche Bank?

Jun 18 05:38

Boeing records zero new plane orders…

Jun 17 17:37

Are You Ready For the Financial Reset?

Jun 17 15:32

It Doesn’t Take A College Degree….

Jun 17 14:12

Which FANG Stock Collapses First and Why

Jun 17 12:34

Central Bank cheat sheet

Jun 17 11:26

Gold Bugs Index Attempting 8-Year Breakout

Jun 17 11:22

Can Western Central Banks Continue Capping Gold At $1350?

The price of gold has jumped 5.8% in a little over 3 weeks. This is a big move in a short period of time for any asset. Two factors fueled the move. The first is the expectation that Central Banks globally will revert back to money printing and negative interest rate policies to address a collapsing global economy. The second factor, more technical in nature, pushing gold higher is hedge funds chasing the upward price-momentum in the Comex and LBMA paper gold markets.

The gold price was smashed in the paper gold market on Friday right as the stock market opened. 9,816 Comex paper gold contracts representing nearly 1 million ozs of gold were thrown onto the Comex in a five minute period. This is more than 3 times the amount of gold designated in Comex warehouses as available for delivery and 28% more than the total amount of gold held in Comex vaults per Friday’s Comex warehouse report.

Jun 17 10:49

Ocasio-Cortez criticizes Amazon's Bezos for paying workers 'starvation wages'

Rep. Alexandria Ocasio-Cortez on Sunday criticized Amazon CEO Jeff Bezos' status as a billionaire, saying the way the businessman may have attained his status as the world's richest man could, in part, be a result of paying workers “starvation wages” and limiting their ability to access health care benefits.

“When you have a very large workforce and you underpay every single person and then you also participate in taking billions of dollars of government subsidies, that could be part of it,” Ocasio-Cortez, D-N.Y., told ABC’s “This Week” on Sunday, regarding how she believes Bezos attained his wealth.

Jun 17 10:33

Trump Warns of Unprecedented Stock Market Crash if He Doesn’t Win in 2020

President Trump on Saturday predicted a stock market crash “the likes of which has not been seen before” if he doesn’t win re-election in 2020. “The Trump Economy is setting records, and has a long way up to go,” Trump wrote on Twitter. “However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before! KEEP AMERICA GREAT.”

Jun 17 10:24

Bubble 3.0: A Blast From A Bubble Past

Jun 17 10:11

"THE COUNTDOWN HAS BEGUN:" IRAN WARNS IT WILL BREACH URANIUM STOCKPILE LIMITS IN 10 DAYS

SOURCE: ZEROHEDGE
Iran certainly isn't planning on backing down in the face of Washington's accusations about the country's role in last week's tanker bombings, and as a result, the possibility of a boots-on-the-ground military conflict in the Islamic Republic cannot yet be ruled out. Making an already tense situation infinitely more precarious, Iran on Monday reminded the world that it's preparing to violate the terms of the Iran deal during the next ten days.

By increasing its stockpiles of enriched uranium, Iran is bound to elicit accusations that it's once again working on a nuclear bomb.Tehran has always maintained that its nuclear program is for peaceful purposes, but American neocons like John Bolton have warned that this was merely a ruse, and that Iran could target American allies like Israel with a missile.

Webmaster's Commentary: 

(Sigh) For a second, I had hoped that this was the polar opposite from what the Iranian government had said; unfortunately, bopping over to www.presstv.com, the pr outlet the Iranian government, this was precisely what they had stated.

Iran's enriched uranium stockpile to surpass 300 kg from June 27: AEOI spokesman

It goes on to state: "Tehran has said it may go even further by July 8 unless remaining partners to the deal -- Britain, China, France, Germany and Russia -- help it circumvent US sanctions and especially enable it to sell its oil.

Kamalvandi said there is still time for European countries to save the Joint Comprehensive Plan of Action (JCPOA), as the nuclear deal is officially known.

Folks, this is an attempted "power squeeze play" to attempt to insure that Iran's oil gets paid for and distributed, in spite of US sanctions. Europe can either fold to the Americans, and not buy Iranian oil, which will kick this upgrade to uranium enrichment into high gear, or figure out how to buy Iranian oil, with full US sanctions in place.

And remember: the enrichment upgrade about which they are talking, is symbolic only, to demonstrate that they have been playing by the rules all along, as the IAEA has attested, in their reports; because it takes 90% + enrichment to create a nuclear weapon.
Source: Popular Science (Mar, 1950) via Modern Mechanix.

This article goes on to state: "In order to build a nuclear bomb, you need “enriched” uranium. That’s a simple way of saying that you need to use uranium that is 90% or greater made up of the U-235 isotope, whereas natural uranium is 99.2% U-238, which is useless for making things go boom.

Will someone, preferably, someone with a science background, please gently mention this to President Trump, and quickly?!? Because right now, I am reasonably certain the the phone line for his direct-connect to Netanyahu, has Trump spinning, like a turbo-charged, industrial strength top, to advocate in favor of an invasion of Iran.

But Iranian President Hassan Rouhani, a word, please: you have just handed the US, and Israel, the "smoking gun" through which they are going to justify an attack against your country; and trust me, they are most probably not even going to begin to wait until either 27 June or 8 July.

And unfortunately, sir, most Americans have no clue as to what is happening here, because their background in hard sciences has been deliberately dumbed down by an educational system which doesn't want, or encourage, critical thinking, or questioning of the official government narrative. And, unfortunately, this makes the likelihood of positive US support for such an action, increase.

I understand that your economy is really hurting, because of the US sanctions on the sale of your oil; but sir, even though this is largely symbolic, this was absolutely the worst, officially horrible decision you could possibly have made under these circumstances; therefore, I am asking you to please reconsider.

Jun 17 09:59

Will A False Flag Iran War Cause A Financial Crisis?

Just a couple of weeks ago the financial world’s biggest worry was the plunging price of oil. Supply was up, stockpiles were building and speculation was pointing towards $40 a barrel, a price at which the fracking/shale oil "miracle" would evaporate. A trillion dollars of related junk debt would default, taking a big part of the leveraged speculating community along for the ride.

Then it all changed. Someone attacked some ships and oil infrastructure in the Middle East, the US and Saudi Arabia accused Iran, and now the fear is that a major regional war will interrupt the flow of oil, sending its price way up and causing a financial crisis at least as severe as a shale oil debt collapse.

This is a legitimate concern, for two reasons.

Jun 17 07:56

OPIOID MANUFACTURER INSYS TO PAY $225 MILLION SETTLEMENT AFTER ADMITTING TO BRIBING DOCTORS

SOURCE: BIG LEAGUE POLITICS
One of America’s biggest opioid manufacturers is set to pay a massive federal penalty after getting nailed for bribing doctors to prescribe their dangerous and highly addictive fentanyl painkillers. The distribution scheme of Insys Therapeutics, that pushed potent opiates into the hands of patients that did not need them, has been described as a driving force behind America’s ongoing public health epidemic stemming from use of the drugs.

Insys, an Arizona company that reported almost $150 million in revenue in 2017, contracted doctors who agreed to prescribe their drugs for sham speeches. In reality, the doctors were getting paid for issuing prescriptions of Subsys, the company’s fentanyl-based painkiller medication.

Webmaster's Commentary: 

Good; may more pharmaceutical company leaders, who pushed treatments they knew to be addictive, or worse, experience a similar fate.

Jun 16 17:11

Brent Johnson: US Dollar Rally Far From Over?

Jun 16 12:04

When Underperformance Reaches An Extreme

Jun 16 10:17

Inflation: The Soviet Tool for Destroying Money

By Chris Calton

In March 1919, the Communist Party headed by Vladimir Lenin stated in its newly drafted program that among the party objectives was the complete abolition of money. The State Bank of Russia would be “abolished and turned into the central bookkeeping office of the Communist society.”1 In theory, the ruling party could have simply decreed money out of existence, but this would fail to eliminate the circulation of currency throughout a vast country that the Bolsheviks did not fully control in 1919.

Instead, their strategy was to resort to the printing press. The banks were among the first institutions the Bolsheviks seized...

Jun 16 10:11

Here Are The Recession Warning Signs To Watch

Jun 16 09:59

US warns Israel against Chinese investment, pushes ‘can’t be friends’ with China line

The United States is concerned about China’s deepening investment in Israel, and its latest military budget bill explicitly warns its Middle Eastern ally against doing business with Beijing, citing “security implications.”

Though President Donald Trump has repeatedly talked up his unwavering support for Israel and its now troubled prime minister, Benjamin Netanyahu, the US Senate is becoming restless over China’s growing ties with the Jewish state.

In particular, Israel’s decision to lease a port in the northern city of Haifa to the Shanghai International Port Group has come under intense scrutiny. A draft text of the 2020 National Defense Authorization Act – which sets out the US military’s budget and priorities for the forthcoming year – includes a specific reference to the port.

Jun 16 09:59

Refusal to hand over Venezuelan gold means end of Britain as a financial center – Prof. Wolff

The freezing of Venezuelan gold by the Bank of England is a signal to all countries out of step with US interests to withdraw their money, according to economist and co-founder of Democracy at Work, Professor Richard Wolff.
He told RT America that Britain and its central bank have shown themselves to be “under the thumb of the United States.”

“That is a signal to every country that has or may have difficulties with the US, [that they had] better get their money out of England and out of London because it’s not the safe place as it once was,” he said.

Jun 16 09:51

How NeoCon Billionaire Paul Singer Is Driving the Outsourcing of US Tech Jobs to Israel

Several U.S. tech giants including Google, Microsoft and Intel Corporation have filled top positions with former members of Israeli military intelligence and are heavily investing in their Israeli branches while laying off thousands of American employees, all while receiving millions of dollars in U.S. government subsidies funded by American taxpayers.

Jun 16 09:34

Trade War Nightmare Causes Collapse In Demand For US Industrial Space, Says Cushman & Wakefield

The latest Cushman & Wakefield commercial real estate report shows demand for US industrial space collapsed 60% on year in 1Q19, reflecting the global synchronized decline and the deepening trade war.

Cushman & Wakefield's economists warned President Trump's trade war is unraveling complex supply chains around the world that have led to a slump in demand for industrial space. They also said the restocking trend by importers forced by the tariffs is likely over. There is also another possibility that the slowdown could be linked to some seasonal factors, the economist said.

"It is possible that the trade dispute is causing disruptions to supply chains which are causing demand for industrial space to slow. Another possibility is companies may have overstocked before the implementation of tariffs in 2018. Seasonality, a general slowing in the global economy and lagging supply may also have been the main culprits," economists Kevin Thorpe and Rebecca Rockey said in the report.

Jun 16 09:34

Credit Card Debt Spikes In Hawaii As Economy Falters  

Experian said all 50 states plus Washington, DC, saw an increase in its average credit card debt on a YoY basis.

Hawaii had an average credit card debt increase of 3.4% over the past year, experienced the most significant growth in credit card usage among any state.

Experian said the average credit card debt in Hawaii is approximately $6,500, which is $500 more than the national average.

Separately, a report from WalletHub suggests why Hawaiians are increasingly using their credits cards. The report collected data from 28 key indicators of economic performance and growth from the island state, determined its economy is the worst in the country because of slow GDP growth, low exports per capita, and relatively few tech jobs.

Webmaster's Commentary: 

Thank you, TSA!

Jun 16 08:47

Credit Scores Could Soon Get Even Creepier and More Biased

Credit scores based on AI and non-traditional data such as your social media profile could usher in a whole new way for banks to discriminate.

Jun 16 08:32

A Sinking Economy

Jun 16 06:43

AMERICA HAS ENOUGH URANIUM TO POWER COUNTRY FOR 100 YEARS

SOURCE: OIL PRICE
There is a large and growing contingency of pundits, politicians, and constituents in the United States who believe that leaning in to nuclear power is the nation’s best bet at meeting the carbon emissions reduction goals set by the Paris Agreement. Although the Trump administration withdrew from the agreement in June of 2017, polling shows that the majority of United States citizens still want the country to honor its Obama-era commitment to the Paris Agreement to combat global climate change.

Webmaster's Commentary: 

The question which arises, post-Fukushima, is how do we keep these reactors safe, particularly because in the US, much of the nuclear material is harvested for nuclear weapons?!?

Jun 16 06:38

WEALTHY MILLENNIAL HEIRS ARE NOW BEING TAUGHT "IMPACT INVESTING" AT HARVARD

Rich millennial heirs can now learn "impact investing" as part of a joint course run by Harvard and the University of Zürich, in collaboration with the World Economic Forum, according to Wealth Professional Canada.

The course, being held at Harvard University's Kennedy school, requires some of the heirs to capitalism's greatest fortunes to pass an interview, before ponying up $12,000 for a week of classes in the US and Switzerland, not including airfare and lodging. Some more intensive related courses cost $58,000.

The program started in 2015 and has barely been advertised since its founding. Instead, word-of-mouth through old money networks and among European royalty has kept the program popular. According to WPC, alumni of the program include "Chung Kyungsun, grandson of Hyundai Group’s founder, and Antonis Schwarz, who came into his fortune aged 16 when the drugmaker his great-grandfather helped found was sold for 4.4 billion euros ($5 billion)."

Webmaster's Commentary: 

And I would almost be willing to bet you one plugged, Turkish Piaster regarding this; there will be utterly no scholarships, even for "go fund me" entrepreneurs, to get a perspective of how much the monied really have.

THAT is not information which the monied - and privileged - ever want to get out.

Jun 16 06:33

HONG KONG THRONG: PROTESTERS WANT LEADER LAM TO QUIT

SOURCE: ALJAZEERA.COM

Hong Kong - Hundreds of thousands of protesters have marched on Sunday in opposition to the government and a controversial bill, despite the city's leader, Carrie Lam, shelving the proposal indefinitely a day earlier.

Crowds filled Hong Kong's Victoria Park early on Sunday afternoon, filing into orderly zones to wait for their turn to embark on an almost four-kilometre route to Admiralty, a downtown business district.

Protesters were largely frustrated with the way the government and Lam, the chief executive, had handled the bill.

Lam has promised to widely consult the public about the bill before making any attempt to resurrect it

Webmaster's Commentary: 

The citizens of Hong Kong, understand their history, as well as the history of mainland China.

Were I the organisers of such a protest, I might want to be very careful, about how protesters approach these "demands".

Lam is obviously an agent of Beijing here, and I would politely suggest to the protesters, that the Chinese government will put these demonstrations down in a heartbeat, if the tempo of these protests...accelerates too quickly.

Jun 16 06:08

Harry Dent: We are in a blow-off bubble

Jun 16 05:44

The "Polar Silk Road" Could Be A Gamechanger For Natural Gas

It’s been well over a year since the then-United States Secretary of Defense Jim Mattis accused Russia and China of being “revisionist powers” each working its way toward making a power grab on the world stage and announced that the U.S. would be shifting its international relations focus away from fighting terrorism and instead prioritize what Mattis referred to as a "great power competition." Now, 17 months later, it looks like Mattis’ nightmares are coming true as Russia and China have increasingly worked together in defiance of the Trump administration in a kind of diplomatic ‘marriage of convenience’.

Jun 16 05:41

Fed Chair Powell's Plan To Pickle The Economy

The Dow Jones Industrial Average made another concerted run at the elusive 27,000 milestone over the last several weeks. But, as of this writing, the index has stalled out short of this psychosomatic barrier. By our estimation, this is for the best.

Jun 16 05:28

MASSIVE POWER CUT HITS ALL OF ARGENTINA

SOURCE: BBC.COM
A massive electrical failure has left all of Argentina and Uruguay without power, according to a major Argentine electricity provider.

Reports said the power cut had also affected parts of Brazil and Paraguay.

Argentine media said the power cut occurred shortly after 07:00 (12:00 GMT), causing trains to be halted and failures with traffic signalling.

It came as people in parts of Argentina were preparing to go to the polls for local elections.

"A massive failure in the electrical interconnection system left all of Argentina and Uruguay without power," electricity supplier company Edesur said in a tweet.

The combined population of Argentina and Uruguay is about 48 million people.

Among the affected provinces in Argentina were Santa Fe, San Luis, Formosa, La Rioja, Chubut, Cordoba and Mendoza, reports said.

Webmaster's Commentary: 

Just a fluke in the electrical system, in light of the fact that Argentina does use electronic voting machines, and elections were to have started today?

Unsure, but the following article, datelined January of this year, does give room for doubt here:

As Elections Near, Argentina’s Electoral Systems Are Under Scrutiny, Again

Jun 16 05:17

'Eye-Popping': Analysis Shows Top 1% Gained $21 Trillion in Wealth Since 1989 While Bottom Half Lost $900 Billion

"The top one percent owns nearly $30 trillion of assets while the bottom half owns less than nothing."

Jun 16 05:16

Chris Hedges: No future for our grandchildren unless we ‘overthrow corporate power’

Corporations motivated by insatiable greed endanger us all and must be stopped before it’s too late, veteran journalist Chris Hedges told RT, warning that future generations will suffer immeasurably unless action is taken now.
Appearing on George Galloway’s political talk show ‘Sputnik’, Hedges decried how the “psychopaths” who run the world’s largest multinational corporations are “hurling us all over a cliff” in the pursuit of “short-term profit.”

We’re going to talk about the destruction of the ecosystem that sustains life. And [that’s] what is happening in the hands of the oligarchic elites in the fossil fuel industry – and let’s not forget the defense industry, the largest emitter of greenhouse gasses is the US military.

Jun 15 17:38

Policy Misstep Deja Vu?

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