ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jan 02 14:15

Market Volatility Designed from the Top Down

Jan 02 13:59

Then They Came For Louis CK

CK DIDNT CHANGE YOU DID AMERICA

Jan 02 12:29

US Manufacturing PMI Plunges To 15-Month Lows

Business confidence tumbled to its lowest since October 2016 and New orders hit a 15-month low.

The rate of job creation softened to an 18-month low. Although firms noted an increase in workforce numbers following greater production requirements, others suggested that low rates of employee retention had weighed on growth.

Jan 02 12:07

Dollar demise? China & Japan ink bilateral currency swap deal worth up to $30bn

Beijing and Tokyo sealed a multi-billion dollar currency swap arrangement on Friday, aimed at enhancing financial stability and spurring business activity in both countries.

According to the Bank of Japan (BOJ), the arrangement which will last until October 25, 2021, will allow the exchange of local currencies between the two central banks for up to 200 billion yuan or 3.4 trillion yen ($30 billion).

Jan 02 10:54

Social Commentator: Be Prepared For Civil Disorder In 2019

Author and social commentator James Howard Kunstler is warning Americans to “be prepared” for civil disorder in 2019 which will arise out of a potential economic collapse.

Kunstler, who contributes to the The Atlantic Monthly, RollingStone and The New York Times Sunday Magazine, is forecasting civil unrest over the coming 12 months.

“Be prepared for it in 2019,” he writes. “There are going to be a lot of pissed-off people around the country. They are liable to attack Federal property and their fellow citizens (and their property). The hungrier they are, the worse it will be.”

Kunstler warns that before the year is out, “the US could find itself in a situation worse than the Great Depression” because the Federal Reserve will be forced to oversee a new round of quantitative easing in the second quarter of 2019, a policy that will cause the dollar to lose value “uncontrollably and catastrophically,” wiping out pension funds.

Jan 02 10:15

Outbreak Alert: Hepatitis A Spreads Through Homeless Population In Oregon: Mac Slavo

Oregon health officials are currently concerned about a Hepatitis A outbreak working its way through the homeless population in the state. The exploding homeless population in more liberal and socialist areas are seeing a major rise in outbreaks of Hepatitis A, as California is already experiencing.

The state of Oregon’s health workers have been shifting their focus and working to redirect hepatitis A prevention strategies toward homeless populations following a shift in how outbreaks of the disease occur, according to a report by the Bend Bulletin. Homeless populations are now the most vulnerable to contracting the Hepatitis A viral infection.

Webmaster's Commentary: 

It is only a matter of time before this will seep from the homeless community into the rest of the general public here.

I have to wonder if the State has put this on the front burner, in terms of protecting both the homeless and their working population, by having Oregonians vaccinated. As stated at google.com:

"The hepatitis A vaccine does not cause hepatitis because it does not contain the live virus. It contains inactivated hepatitis A virus. The vaccine works by stimulating the body to produce antibodies, which are proteins that will fight and kill the virus and prevent hepatitis A infection."

Jan 02 10:00

2019: The Beginning Of The End

Jan 02 09:37

Apple's biggest embarrassment of 2018

It's rare for Apple to fall foul of its ego, but hardware can be hard, and it seems like the Cupertino giant bit off more than it could chew back in 2017.

Jan 02 09:20

Trump, Xi vow to strengthen US-China bilateral ties: State media

Chinese President Xi Jinping and his American counterpart Donald Trump have exchanged messages, vowing to enhance cooperation despite a months-long bruising trade war.

The two leaders on Tuesday exchanged congratulatory messages on the 40th anniversary of the establishment of China-US diplomatic relations, Chinese state news agency Xinhua reported.

President Xi said he attached “great importance” to the development of bilateral ties, stressing that he was “willing” to work with Trump in improving the Beijing-Washington relations.

Jan 02 08:58

2019 Investing Resolutions

Jan 02 08:21

Jon Rappoport -- Where's the Twenty Trillion Dollars?

Note: the missing twenty trillion does not refer to the national debt.

Alert to pension fund managers all over the planet---and to everyone else---

"If 1,000 US and global pension fund managers start asking questions it could change everything - like stopping a nuclear war."

That's a statement from former US Assistant Secretary of Housing and Urban Development, and now president of Solari, Inc., Catherine Austin Fitts, who is a financial analyst like no other in our time.

Among other feats, she has identified a giant sucking black hole in the US government. And what has disappeared down that hole is money. Over the years, at least $20 trillion.

Unaccounted for.

Gone.

Jan 02 07:56

Fake Markets and Return of the “Plunge Protection Team”

It’s amazing what passes as a market these days.

Stocks rallied during the Christmas week, and the mainstream financial press would like you to believe bargain hunters swooped in after the weeks of heavy selling to grab some deals. The truth is there are very few actual people still evaluating the merits of publicly traded companies.

The markets are driven by programmed trading and central planning. The artificial nature of markets was on full display last week.

Jan 02 07:31

Top 5 countries opting to ditch US dollar & the reasons behind their move

The past year was full of events that inevitably split the global geopolitical space into two camps: those who still support using US currency as a universal financial tool, and those who are turning their back on the greenback.

Global tensions caused by economic sanctions and trade conflicts triggered by Washington have forced targeted countries to take a fresh look at alternative payment systems currently dominated by the US dollar.

RT has taken a deeper look into the recent phenomena of de-dollarization, summing up which countries have taken steps towards eliminating their reliance on the greenback, and the reasons behind their decision.

Jan 02 05:22

Monster rallies part of bear markets–beware

Jan 01 15:43

The Crisis of Capital

The undeniable reality of the 21st century economy is that capital has gained while labor has stagnated. While various critics quibbled about his methodology, Thomas Piketty’s core finding–that capital expanded faster than GDP and wages/salaries (i.e. earned income from labor)–is visible in these charts. -- Real wages have gone nowhere for decades. Only the top 5% of wage earners have outpaced inflation’s erosion of the purchasing power of their earnings.

Jan 01 14:57

25 Best Counties to Live In

Jan 01 14:32

Scott Adams: Breaking Down the Climate Change Debate

Comparing the strong points of climate experts and climate skeptics
The need for a conversation between the two sides
Bill Gates says the world needs to be working on nuclear power
It’s the biggest news in the world
Lower energy costs would allow reforestation of deserts
President Trump’s personality allows him to do things others wouldn’t
Stock market tanked 6% because Fed said market to hot, and slowed
The economy is SO GOOD…the Fed had to slow it down

Comments at: https://twitter.com/ScottAdamsSays/status/1080145063890415618

Jan 01 13:05

Retailers that went bankrupt in 2018 (CNBC)

Jan 01 11:24

The One Reason America Can't Police the World Anymore: Washington Is Broke

Even if America once felt wealthy enough to squander its financial resources in such pursuits, those days have ended. Washington is effectively bankrupt, with massive unfunded liabilities. Its fiscal future will only worsen as Baby Boomers continue to retire.

Jan 01 11:08

The thought of Jeremy Corbyn as PM has Jewish investors running for the hills

The possibility that John McDonnell could soon run the economy and set taxes has prompted several Jewish businessmen to divest from the UK

Jan 01 10:42

Union Scum: Seasonal UPS Workers Had Paychecks Taken By Local Teamsters Chapter In Boston

Some seasonal UPS workers in the Boston area worked over 40 hours a week during the holidays, and received less that $15 total in their paychecks. It may sound like sweat shop labor. It isn’t. The local Teamsters chapter in the area virtually gobbled up every season worker’s paycheck…because that’s what happens when you join a union. They’re scum. Sheila O’Malley of Charlestown told CBS Boston that she worked 41 hours one week, many of it during the nights, and only received $14.52 in total pay. She agreed to pay the Teamsters $500 initiation fee in $32.00/week payments, but she was later told that this policy had been rescinded. Now, she and others have been sent scrambling financially, as the union sucked all of their hard earned money from their paychecks. The National Labor Relations Board is now investigating the local Teamsters chapter over their labor practices (via CBS Boston)

Webmaster's Commentary: 

These are the kinds of brutal financial practices which get unions in trouble in this country, which, in fact, they should be, if they are shaking down their members.

And rescinding a policy which let members pay over time?!?

That is pure immoral ugly, thank you very much!!

How convenient is THAT timing for the Union?!?

Jan 01 10:35

Chris Hedges: Sacrifice Zones of America

Jan 01 10:33

Prepare For Global Debt Bubble Collapse – Outlook 2019

– Are we to prepare for a global Debt Bubble Collapse in 2019?
– 2019 to see the political and economic uncertainty of 2018 continue and likely to deepen
– Investors lulled into a false sense of security by politicians, brokers, bankers etc.
– Much “cheer leading” of the “economic recovery” narrative and by extension financial markets – particularly property and stock markets
– Trade wars, currency wars, Brexit, Italexit, EU contagion are real risks
– Systemic risks posed by Deutsche Bank, Italian/ Irish etc. banks and indeed nations such as Italy, UK, US and the global debt bubble
– Risk assets and property to under-perform and precious metals to outperform
– Hope for best but be prepared for the worst by increased allocations to cash and gold

Jan 01 08:22

A Couple of Thoughts on 2019

Jan 01 08:06

US Dollar Status as Global Reserve Currency?

Dec 31 16:42

The Devastating Global Debt Trend

Dec 31 15:09

Don’t Get Excited About This Market Bounce

Dec 31 12:55

Retailers Rejecting Customers’ Cash As More Ban Paper Money

Though we are unlikely to ever reach a totally cashless society, the disturbing trend does bring up interesting questions of privacy and transacting “off the grid”… likely those advocating for a “no cash” future will be the same ones pushing for greater surveillance power of the state, as is quickly happening right now in places like China, where its Orwellian ‘Social Credit System’ seeks to abolish any and all private transactions altogether.

Dec 31 12:48

Scott Adams: China Trade, Louis C.K., Walls and Climate Debate

Louis CK hits the offensive Trifecta
Climate change debates least rational feedback
Climate change believers don’t act like they believe
President Trump’s tweet about the experts deciding border security
Border Patrol people aren’t engineers, but their input is key
Gordon Chang says China growth may have slowed or is retracting
America is more customer than supplier to China
Huge trade war advantage for the US
North Korea’s nukes were an advantage just a year ago
In 2019 they seem more of an enormous money drain
They prevent trade advantages and cost a fortune
CNN’s “Walls don’t work” isn’t an opinion…it’s just dumb
Walls are friction, friction always changes behavior
President Trump’s statement about military pay raise
Did he innocently get his facts wrong?
It was a mistake, but is it important?
The Left cares about “fairness”

Dec 31 11:18

Beware The Young Stock Market Bear

Dec 31 10:24

SAUDI ARABIA: Two Saudi families purchased 62 Maltese passports: Malta launched its controversial cash for passports scheme in 2013 to sell Maltese citizenship for $743,000.

Dozens of Saudi nationals belonging to two of the country's wealthiest families became Maltese citizens - and thus citizens of the European Union - last year after paying millions of dollars to buy the country's passports, the Times of Malta reported.

Malta launched its controversial cash for passports scheme in 2013 when the Maltese citizenship could be bought for 650,000 euros ($743,000).

The Maltese passport allows freedom of movement within the EU, since the holder of the passport has automatic European citizenship.

Earlier this week, Malta's government gazette published the names of 62 Saudis belonging to the al-Muhaidib and al-Agil families, who were named by Forbes magazine as among the richest in the world.

The newspaper pointed out that the family members, most of them minors, became Maltese citizens in 2017, and might not have set foot on Maltese territory yet.

Webmaster's Commentary: 

This begs the question; what do these families know about the real issues in Saudi Arabia which may go "mammary glands up" in the near future?!?

Do they see signs that the Butcher of Yemen, Crown Prince bin Salman, is planning another "shakedown" of some of Saudi Arabia's most wealthy families, and want to get "the heck out of Dodge", before that happens?!?

And here is a companion piece,which might go a long way toward explaining why these families are sensing now may be a good time to have these passports:

Saudi Arabia could be bankrupt by 2020

Dec 31 10:08

4 In 10 American Adults Don’t Have $400 Cash For An Emergency

More Americans continue to become more poor. It’s hard to believe that the majority of Americans have become as poor as they have over the last 10 years. I remember being a teenager 30 years ago and the wealth that the American masses had at that time, and then to compare that to now, it really is like comparing two totally different countries...

Dec 31 10:01

AT&T TO DELIBERATELY HOAX ITS OWN CUSTOMERS BY FALSELY LABELING 4G PHONES WITH "5G" ICON

AT&T wants to win over new and existing customers by advertising its 4G phones with a 5G icon. In 2019, AT&T plans to deceive customers by displaying a 5G logo in the corner of their Smartphone. None of the phones will be connected to a 5G network; AT&T will pretend that their most advanced 4G LTE tech is using the new 5G network.

AT&T is incorporating new speed boosting technologies into their phones, but these upgrades do not qualify as 5G technologies. The new 5G E icon is practically a hoax. AT&T justifies the marketing ploy by including a small “E” after the 5G.

According to Fierce Wireless, “potentially millions” of people could see the new icon at the top of their smart phone screen by Spring 2019. By the end of 2018, the “latest Android devices” will have access to AT&T’s 5G Evolution network, available in over 400 markets.

Webmaster's Commentary: 

IF you are at the end of a cell phone contract, and are negotiating for a new one, please check and see what other companies might be doing this kind of underhanded crud; knowledge is power here.

Dec 31 09:58

Trade war averted? U.S., Chinese negotiators working out new details

American and Chinese trade negotiators are working out details of a new agreement that could avert a wider trade war as the New Year approaches.

The Wall Street Journal reported that the deal could lead to a boost in U.S. exports to the Asian giant as well as a loosening of regulations that prevent or hamper U.S. firms from operating in China, people familiar with the negotiations said.

POTUS Donald Trump on Saturday tweeted that he and Chinese President Xi Jinping had made “great progress” in trade discussions, which are set to wrap up on March 1.

“Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas, and points of dispute,” he tweeted.

Dec 31 09:48

Federal Reserve is owned by major banks of Wall Street: Journalist

America’s Federal Reserve System is a private bank owned by the major banks of Wall Street, according to Stephen Lendman, a Chicago-based author and radio host.

After the stock tanked yet again on Monday, US President Donald Trump compared America’s central banking system, known as the Federal Reserve or the Fed, to a blundering golfer .

"The only problem our economy has is the Fed," Trump tweeted. "The Fed is like a powerful golfer who can't score because he has no touch - he can't putt!"

“Most people will be very surprised to learn that the Federal Reserve, America’s central bank, is neither federal nor does it has reserves,” Lendman told Press TV on Saturday.

“It’s a privately owned bank. It’s owned by the major banks of Wall Street. The big ones: City Groups, the Bank of America, J.P. Morgan Chase, Goldman Sachs, and Wells Fargo. The heads of these companies own the Fed,” he added.

Dec 31 09:46

First Details From US-China Trade Talks Emerge

With roughly a week left before the first round of in-person trade-deal talks, the White House has leaked a rough outline of its expectations for a deal reportedly gleaned from preliminary conversations between President Trump and President Xi (Trump tweeted on Saturday that he and Xi had made "big progress" toward a deal during their early calls).

If nothing else, the report in the Wall Street Journal offers a benchmark against which the final deal can be judged. According to WSJ, the talks are focusing on boosting US exports and loosening regulations that discriminate against US firms operating in China (something the Chinese have been hinting at in recent policy decisions to lift import bans and remove retaliatory tariffs, while also reportedly weighing a decision to scrap their "Made in China 2025" policy).

Dec 31 09:44

Oil Tanker Firms Scrap Most Ships In Three Decades 

Companies around the world have scrapped a record number of large crude tankers in 2018.

About 100 vessels of the industry’s main crude carriers have been sent to India and Bangladesh for demolition, according to data from Clarkson Research Services Ltd., the statistical and research service arm of the world’s largest shipbroker.

Bloomberg said the shipping bust is no surprise, as of September the vessels, which transport 40% of the world's crude, were on course for the worst charter rates in three decades.

In an August report, Bloomberg specified the implosion of charter rates was due to a two-year reduction of OPEC cargoes and environmental regulations. As we have said before, the global growth slowdown has certainly not helped.

Dec 31 09:41

RETAILERS REJECTING CUSTOMERS’ CASH AS MORE BAN PAPER MONEY

“Your cash is not wanted here”, a growing number of retailers and restaurants throughout the US and UK are telling customers. But are reasons being given by companies for the new “cashless” approach — speed, efficiency, and the safety of store employees — valid enough to require something as utterly and downright unAmerican as rejecting cash?

Sam Schreiber was mid-shampoo at a Drybar blow-dry salon in Los Angeles when someone from the front desk approached her stylist with an emergency: a woman was trying to pay for her blow-out with cash.

“There was this beat of silence,” says Ms. Schreiber, 33 years old. “She literally brought $40.”

More and more businesses like Drybar don’t want your money—the paper kind at least. It’s making things awkward for those who come ill prepared. After all, you can’t give back a hairdo, an already dressed salad or the two beers you already drank.

Webmaster's Commentary: 

IF we find a store here which refuses cash (which, the last time I checked in with the US government, is still full legal tender with which to pay bills), I will let that company know that I will never go there again.

If you want to go one step further, you can find the name of the corporation, the president of that corporation, and (surprisingly enough) the email address of that president, and tell them (peacefully, logically, and with no foul language, please) that you will never go to that store again, and will encourage others never to shop there again.

Trust me, it works; when we had a difficulty with a utility here, and the corporation was on the mainland, I called the President of that company, and services were restored very quickly.

Dec 31 09:28

Venice to charge an entrance TAX

Dec 31 09:26

Are There “Rogue” State Utility Commissions Programming How State Legislatures, Laws & Courts Are Prescribed?

By Catherine J. Frompovich

Do utility consumers ever question what’s happening in their state regulatory agencies, especially when those agencies practice “administrative over-reach” or get entangled in specious activities and even fraudulent or illegal activities?

Why do I ask such a question? The answer is quite apparent when one realizes the shenanigans that go on when vested interests are at play which can range from industry lobbyists to outright dishonesty on the part(s) of agencies’ employees...

Dec 31 09:01

The Depression Of 2019-2021?

The profound question which transcends all this day-to-day market drama over the holidays is the nature of the economic slowdown now occurring globally. This slowdown can be seen both inside and outside the US. In reviewing the laboratory of history — especially those experiments featuring severe asset inflation, unaccompanied by high official estimates of consumer price inflation — three possible “echoes” deserve attention in coming weeks and months. (History echoes rather than repeats!)

Will We Learn from History — And What Will Soon Be History?

The behavioral finance theorists tell us that which echo sounds and which outcome occurs is more obvious in hindsight than to anyone in real time. As Daniel Kahneman writes (in Thinking Fast and Slow):

Dec 31 08:39

Universal credit: Surge in families begging for money online as benefit plunges households into destitution

Hundreds of families have been forced into begging for money online as universal credit plunges them into destitution, figures show.

There has been a surge in crowdfunding campaigns set up by individuals who say the flagship welfare reform has left them struggling to survive due to delays in benefit payments or cuts to their income.

Charities have warned that gaps in financial support through universal credit were leaving responsible people struggling to make ends meet or find a house deposit so as not to leave their families homeless.

Data released to The Independent by GoFundMe, one of the world’s biggest crowdfunding platforms, shows there are currently 905 campaigns by people appealing for donations to help them survive on universal credit, marking a five-fold rise on the previous year.

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