ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Jun 26 10:56

The History of Cellular Network Security Doesn’t Bode Well for 5G

By EFF Threat Lab

There’s been quite a bit of media hype about the improvements 5G is set to supposedly bring to users, many of which are no more than telecom talking points. One aspect of the conversation that’s especially important to get right is whether or not 5G will bring much-needed security fixes to cell networks. Unfortunately, we will still need to be concerned about these issues—and more—in 5G...

Jun 26 10:12

WTF CHART OF THE DAY

Jun 26 06:37

The Bank of Japan begins to face its failures

Jun 25 15:58

IMF warning: NZ economy has lost momentum

New Zealand's economic expansion has lost momentum and while the near-term outlook is expected to improve, risks are increasingly tilted to the downside, according to the International Monetary Fund.

The global body of 189 member countries, set up to foster international monetary cooperation, said the expected improvement in the second half of this year and in 2020 largely reflects increased monetary and fiscal policy support, while the terms of trade are expected to continue supporting domestic demand.

"The near-term boost in growth should lead to a positive output gap and a gradual acceleration of inflation towards the 2 per cent mid-point of the RBNZ's target range," the IMF said in its concluding statement describing the preliminary findings of visiting staff.

*We're going down with the rest of the world!*

Jun 25 15:48

“Surveillance Capitalism”: Toronto Urged to Abandon Google’s Smart City

By Derrick Broze

The “Smart City” Quayside project in Toronto, Canada continues to receive criticism from privacy advocates as well as current and former members of the project.

Quayside is a smart city located on 12 acres of waterfront property southeast of downtown Toronto, Canada. The city represents a joint effort by the Canadian government agency Waterfront Toronto and Sidewalk Labs, which is owned by Google’s parent company Alphabet Inc...

Jun 25 10:34

Mapping The World's Financial Weak Spots

Jun 25 10:20

4 More States Join Original 10 in Lawsuit Opposing Sprint / T-Mobile Merger So They Can Compete With Verizon and AT&T in Unleashing Harmful 5G Everywhere

By B.N. Frank

In February, telecom industry representatives gave congressional testimony that they have no scientific evidence that 5G is safe. Many studies have proved it’s not. Despite this and the growing U.S. opposition to 5G from cybersecurity experts, doctors, elected officials, environmentalists, meteorologists, NASA, NOAA, scientists, and the U.S. Navy, the despicable “Race for 5G” continues and Sprint and T-Mobile want a more competitive edge in unleashing it too...

Jun 25 10:18

Gold Sees New Highs After Breaching $1,400

Jun 25 09:20

Blain: "We're Nearing The Moment When Everyone Tries To Exit The Bond Market At The Same Time - It Will Be 2007 Again"

These are thin and dangerous markets… We are marking time ahead of Friday’s G20 meeting. Then it will be summer. By then we will be anxious about Europe, Iran or whatever the next thing is. Traders have too much to worry about and too little to do. The geopolitical strains, fretting what Trump might tweet next (yesterday’s all-out assault on the Fed and calling it a “stubborn child” was sublime), or this week’s trade meeting at the G20 – which I expect will seriously under-deliver on market hopes. Remember – Hope is never a Strategy!

I do think we need to think a little more about the Trump effect on stability. The US ain’t doing so bad around 2.5% growth (3.1% Q1). Only an idiot would mistake a soar-away stock market with economic stability. A Dow a couple of “thousands points higher” would be massively overbought, and just a higher number to correct, and if “the Fed doesn’t know what its doing”.. well who does? Trump is noise. Get over it.

Jun 25 09:14

Survey: Two-thirds of American employees regret their college degrees

A college education is still considered a pathway to higher lifetime earnings and gainful employment for Americans. Nevertheless, two-thirds of employees report having regrets when it comes to their advanced degrees, according to a PayScale survey of 248,000 respondents this past spring that was released Tuesday.

Student loan debt, which has ballooned to nearly $1.6 trillion nationwide in 2019, was the No. 1 regret among workers with college degrees. About 27% of survey respondents listed student loans as their top misgiving, PayScale said.

Jun 25 08:55

Dollar Doomsday Looms as Refineries Go Boom

Jun 25 08:26

Debt-Free by 2024! Gee, Thanks, Mister!

Jun 25 07:47

Property Prices Growth Around The World

Jun 25 07:32

The ECB’s Renewed Attack on Free Markets

Jun 24 17:16

Money and Gold in the 1920s and 1930s

Jun 24 17:02

Citizens Now Face Up to $500 “Speeding Tickets” for Riding BICYCLES Over 15 MPH

By Matt Agorist

Denver, CO — In a likely move to bolster the city’s bottom line, Denver Park Rangers are stepping up efforts to catch people speeding. No, they aren’t going after cars driving on the road, they are going after bicycles who are driving on the designated bicycle path.

Throughout parks in the city, the set speed limit for riding a bicycle is apparently 15 miles per hour. Rangers have set up speed traps around parks, using radar guns to clock people on bicycles who would dare cross that threshold...

Jun 24 16:45

Bruce Kushnick and The IRREGULATORS Win First Round Against The FCC. Exposing the $500B Rip-Off Continues.

By B.N. Frank

Hooray for Bruce Kushnick and The IRREGULATORS! Activist Post and many others have reported about their most recent efforts against telecom corruption. From Counterpunch:

"On May 20th, a group known as the Irregulators submitted legal briefs to the U.S. District Court in Washington, DC, seeking standing to appeal a Federal Communications Commission (FCC) decision that, in effect, has facilitated one of the largest accounting scandals in American history...

Jun 24 16:32

U.S. Consumer Debt Surpasses Financial Crisis Levels

By Mac Slavo

Debt levels reached record levels during the Great Recession which struck the United States about a decade ago. Now, U.S. consumer debt has surpassed those levels with a record number of Americans living on the edge of disaster...

Jun 24 11:03

Why 'Batman,' Not 'Star Wars,' Was The Box Office Blockbuster That Ruined Hollywood

Over 400 pilots have joined a class-action lawsuit against Boeing, accusing the company of an "unprecedented cover-up" of "known design flaws" on the company's top-selling 737 MAX, according to the Australian Broadcasting Company.

The MAX, first put into service in 2017, was involved in two fatal crashes over the course of a year; the first off the coast of Indonesia in October 2018, killing 189 - and the second in Ethiopia, killing 157.

Jun 24 11:02

HUNDREDS OF 737 MAX PILOTS SUE BOEING OVER 'UNPRECEDENTED COVER-UP"

Over 400 pilots have joined a class-action lawsuit against Boeing, accusing the company of an "unprecedented cover-up" of "known design flaws" on the company's top-selling 737 MAX, according to the Australian Broadcasting Company.

The MAX, first put into service in 2017, was involved in two fatal crashes over the course of a year; the first off the coast of Indonesia in October 2018, killing 189 - and the second in Ethiopia, killing 157.

Jun 24 11:00

US lawmakers: Nord Stream 2 'a terrible mistake'

The Nord Stream 2 pipeline will run straight through the Baltic Sea, delivering Russian natural gas directly to Germany. For once, Democrats and Republicans in the US agree on something: The project is a really bad idea.

Jun 24 10:58

Two Events That Will Determine Oil Prices

Jun 24 10:28

Mainstream Media Faults Trump for Not Following Through on Iran Attack - Not blundering into a war with Iran seen as a sign of weakness

To be sure, Thursday was meant to be the start of the US-Iran War which hawks have been trying to piece together for generations. Trump ordered the attack, but ultimately, called it off a mere 10 minutes from a strike.

What had been a subject of debate was now USA Today accusing Trump of “not following through.” As concerning as blundering into a huge war in the Middle East had been, the new talking point was Trump showing weakness, and per Kori Schake of the Atlantic, damaging “America’s credibility.”

America can, after all, usually be counted on to react hastily, and stumble into what are in retrospect unfortunate wars. That Trump managed to just barely avoid the siren’s song of war was outside the expectation of American allies, and now they don’t know what to think. NBC News was quick to accuse Trump of “indecision” and declared it would “embolden Iran.”

Webmaster's Commentary: 

So let me get this straight; the US military, and the Presidency are now being taken to task, for not starting this potentially protracted war of attrition, for which our military is utterly unprepared, because it doesn't have the troop strength; the weaponry; the money; or the manufacturing?!?

And we know, at least with Samantha Vinograd, where her foreign policy views come from; she was a featured presenter at last year's AIPAC Conference:

2018: AIPAC Conference Featured speakers included CNN'S Samantha Vinograd

With Kori Shake, we know a little bit about her background Kori Shake, Hoover institution bio

I would like to politely state, that whatever credibility President Trump started with, in 2017, he absolutely and thoroughly blew to smithereens, by very publicly backing the notion, that everything Israel's Prime Minister Netanyahu and his biggest US contributor, Sheldon Adelson, wanted in the Middle East, they would get from his administration.

So, what has he done so far, in that support?!? He has declared Jerusalem the capital of Israel; he has withdrawn the US from the P5+1 treaty with Iran, and thrown crippling sanctions on the Iranian government; he has also, for good measure, created a definition, by executive order, of Iran's Revolutionary Guards, as "terrorists".

And in an absolutely potentially insane win/win for Tel Aviv, he has conjured up a "Pax Americana in the Middle East", being hawked by his son-in-law, Jarod ("The Magnificent") Kushner, which is DOA, because all sovereignty of Gaza, the West Bank, and East Jerusalem ,as well as the Golan Heights, would now be recognised as official Israeli territory, period, end of discussion.

What the whole of the White House seems pathologically incapable of understanding (or, more correctly, do not want to understand), is, that for Palestinians, money is not the objective in any peace deal with Israel, although the money offered here may seem attractive; it is sovereignty over a bit of land to call their own, which drives the Palestinian movement.

And to add insult to historical injury, Israeli engineers, in creating new settler developments, have placed them in such a manner, that there is no way for a contiguous State of Palestine to exist, at this point.

So to Kori and Samantha, please, don't despair; as I type this, I am very sure that if President Trump does NOT want to start a war, your hero in Tel Aviv, Prime Minister Netanyahu, is talking to his military ops right now, and has had lengthy discussions about how to "get this party started", and goad the American government into a war in Iran, from which they cannot walk away.

Jun 24 10:22

Stealth Stimulus Has Arrived

Jun 24 09:02

Next 10 years of Bitcoin, with Vin Armani, Tone Vays, Jeffrey Tucker, Chris Pacia, and Yury Polozov

By Naomi Brockwell

At PorcFest we discuss the first 10 years of bitcoin, and the next 10 years. What role do we expect govt to play? Where will BTC stand compared with other coins? How has Bitcoin changed people’s understanding of money?

Fantastic panel featuring Tone Vays, Jeffrey Tucker, Chris Pacia, Vin Armani and Yury Polozov.

Jun 24 08:52

Czech Republic protests: Andrej Babis urged to quit as PM

Hundreds of thousands of protesters have taken to the streets of Prague demanding that PM Andrej Babis resign.

Mr Babis is facing a criminal investigation over alleged fraud, and is also the subject of an EU conflict-of-interest investigation. He denies the allegations.

Organisers say about 250,000 people attended the rally. The figure could not be verified.

It is said to be the largest protest since the fall of communism in 1989.

Who was marching?
The protest was organised by the Million Moments for Democracy group. The movement has grown from a small student initiative into a mass movement.

What are the allegations against Babis?

The prime minister is facing a criminal investigation in the Czech Republic for alleged abuse of €2 m in EU subsidies over 10 years ago.

Webmaster's Commentary: 

The Czech Republic has had snap elections before, in 2016 Snap Elections, Czech Repu8blicand this may be the mechanism though which Babis might be out of a job, shortly.

Jun 24 08:34

HUNDREDS OF 737 MAX PILOTS SUE BOEING OVER 'UNPRECEDENTED COVER-UP"

SOURCE: ZEROHEDGE
Over 400 pilots have joined a class-action lawsuit against Boeing, accusing the company of an "unprecedented cover-up" of "known design flaws" on the company's top-selling 737 MAX, according to the Australian Broadcasting Company.

The MAX, first put into service in 2017, was involved in two fatal crashes over the course of a year; the first off the coast of Indonesia in October 2018, killing 189 - and the second in Ethiopia, killing 157.

The lawsuit, filed by a plaintiff who goes by "Pilot X" in court documents out of "fear of reprisal from Boeing and discrimination from Boeing customers," accuses the Chicago-based aviation giant of "an unprecedented cover-up of the known design flaws of the MAX, which predictably resulted in the crashes of two MAX aircraft and subsequent grounding of all MAX aircraft worldwide."

Webmaster's Commentary: 

Good; it is high time that one of our aircraft manufacturers take full responsibility for what happened with the MAX design.

I would love to see whoever signed off on this, at Boeing, tried, convicted, and jailed for a long, long time, to let other aircraft manufacturers understand that this is NOT something they can do, and with which they can get away.

Jun 24 08:16

THE WEST’S LOSING BATTLE FOR HONG KONG

SOURCE: NEW EASTERN OUTLOOK

Another pivotal battle is being fought over Hong Kong between Beijing and political forces backed by the special administrative region’s former British colonial masters.

At the heart of the battle is a proposed law that will allow suspects to be extradited to mainland China, Taiwan or Macau.

The BBC in its article, “Hong Kong lawmakers fight over extradition law,” would claim:

Critics believe the proposed switch to the extradition law would erode Hong Kong’s freedoms.

By “critics,” the BBC is referring to US and British-backed opposition, with the article specifically linking recent protests against the proposed law to the US-funded “Umbrella Movement” demonstrations in 2014.

The slow, incremental erosion of Western influence in Hong Kong and elsewhere across Asia-Pacific appears to be ending what has been centuries of European and then American primacy over the region.

Webmaster's Commentary: 

At this juncture in US/China relations, the US, and the West in general, needs to pick its battles very, very strategically.

Jun 24 08:12

Feds Concerned as Deutsche Bank Plans to Create ‘Bad Bank’, Cut Operations in US – Reports

The German bank, mired in money laundering allegations and years of struggling to generate sustainable profits, is planning a massive overhaul of its trading operations to switch focus from risky investment banking, as reports earlier suggested. It is expected to create a so-called bad bank for toxic assets and curtail its offices abroad.

Officials from the US Federal Reserve have quizzed a senior executive from Deutsche Bank over its reported restructuring plans, which include creating a “bad bank” for non-core assets and curtailing its units abroad, The Financial Times reports.

According to the outlet, citing several people, acquainted with the situation, officials sought to address concerns that the move would affect the German financial behemoth’s US operations. One of the insiders pointed to the uncertainty over Deutsche Bank’s entire US portfolio.

Jun 24 08:11

NO EVIDENCE ISLAMIC STATE HAD FOREKNOWLEDGE OF SRI LANKA BOMBINGS, SAYS OFFICIAL

SOURCE: INTELNEWS.ORG
It is not at all clear that the Islamic State and its leader, Abu Bakr al-Baghdadi, who claimed responsibility of the Sri Lanka bombings in April, had foreknowledge of the attacks, according to a top official. The militant Sunni group claimed it was behind the nine suicide blasts that targeted Catholic churches and five-star hotels in Sri Lanka’s western and eastern coastal regions on April 21. The near-simultaneous bombings killed 258 people and injured over 500. They are believed to constitute the bloodiest terrorist attack in the country’s history. Interestingly, many questioned the authenticity of the Islamic State’s claim of responsibility, which came a full two days following the deadly blasts. The group typically issues statements immediately following attacks by its followers around the world. The 48-hour delay in the case of the Sri Lanka bombings, therefore, was deemed “uncharacteristic” by some experts.

Webmaster's Commentary: 

IF this report is true (hard to prove, either way) it gives us yet another insight as to how these groups act, and exchange information.

The video, in al-Baghdadi's hands, would, of course, be a PR "coup", even if it was not his group directly, but some underlings who actually did this attack, before he even knew it had happened.

Jun 24 07:55

US-CHINA ECONOMIC WARFARE: CHINESE ENTERPRISES BLACKLISTED BY THE US

SOURCE: GLOBALRESEARCH.CA

The US considers China a strategic adversary. Waging war on the China by other means makes reconciling major bilateral differences all the harder.

According to a US Commerce Department’s Bureau of Industry and Security (BIS) document, 143 tech-related Chinese enterprises have been blacklisted from the US market.

They include companies involved in producing aviation related products, semiconductors, engineering, as well as other high-tech products and components.

Falsely claiming these enterprises act “contrary to the national security or foreign policy interests of the United States” is cover for wanting corporate America to have a leg up on Chinese competition.

On Friday, the BIS added five more Chinese tech enterprises to its blacklist, further heightening bilateral tensions ahead of China’s President Xi Jinping’s scheduled meeting with Trump for talks later this week at the Osaka, Japan G20 summit.

Webmaster's Commentary: 

Forgive me, but I have a very clear understanding of how trade wars, can morph quickly into shooting wars; and Mr. President, let me assure you; this would be absolutely the worst time ever to confront China militarily.

You've seen reports on Chinese and Russian weapons technology; the US is not even close here.

And why is that?!? Because of the "cosy" relationships between weapons manufacturers and political candidates, who can steer work their way. Henceforward, there should be NO money received at the state or national level, from major contractors, or subcontractors for these products. There should be a vetting process before our military ever try these weaons.

And if companies cannot perform, in terms of offering new, less costly technologies which consistently get delivered on time, and as advertised, there should be a clause in all defense contracts that by not doing so, that company can no longer compete for federal defense contracts.

Jun 24 07:52

With old trade wars reigniting and new ones being invented, telecommunications is faced with an existential crisis. To survive, it must establish a global standard for a globe that no longer seems to want one.

With old trade wars reigniting and new ones being invented, telecommunications is faced with an existential crisis. To survive, it must establish a global standard for a globe that no longer seems to want one.

Jun 24 07:43

GOOGLE'S CHROME WEB BROWSER "HAS BECOME SPY SOFTWARE"

SOURCE: ZERO HEDGE

Google's Chrome is essentially spy software according to Washington Post tech columnist Geoffrey Fowler, who spent a week analyzing the popular browser and concluded that it "looks a lot like surveillance software."

Fowler has since switched to Mozilla's Firefox because of its default privacy settings, and says that it was easier than one might imagine.

My tests of Chrome vs. Firefox unearthed a personal data caper of absurd proportions. In a week of Web surfing on my desktop, I discovered 11,189 requests for tracker “cookies” that Chrome would have ushered right onto my computer but were automatically blocked by Firefox. These little files are the hooks that data firms, including Google itself, use to follow what websites you visit so they can build profiles of your interests, income and personality.

Webmaster's Commentary: 

Those currently using Chrome as your default browser, may want to take a good look as to whether this software is tracking you in areas you don't want to be tracked.

IF you decide to disable the software, or have it disabled, it would probably make sense to make absolutely certain that any vestige of the program is completely disabled, and that may be harder to do than you might have imagined.

Jun 24 07:38

GEORGE SOROS RECEIVES JOSEPH A. SCHUMPETER AWARD

SOURCE: ECONOMIC POLICY JOURNAL

Earlier today, George Soros, the chair and founder of the Open Society Foundations, was presented with the globalist (in the worst sense of the term) Joseph A. Schumpeter Award for innovative achievements in the field of business, economics, or economic policy, at a ceremony at the National Bank of Austria, in Vienna.

The award was presented by Ewald Nowotny, the bank’s governor and president of the Vienna Schumpeter Society, who cited Soros’s “commitment to freedom and the promotion of the pursuit of knowledge.”

“We are honoring George Soros with the Schumpeter Prize for making the world more open, more just and more equitable for all,” he said.

Past insider globalist recipients of the award have included former German chancellor Helmut Kohl, the former president of the European Commission Romano Prodi, and current president of the European Central Bank Mario Draghi

Webmaster's Commentary: 

The only problem people have, in living in a society the "One Worlders, like Soros and his ilk want created, is that the chaos which ensues, when you bring people into a country, who have utterly zero respect for that countries' history, language, and tradition, is punitively disruptive for the people already living and working there.

I am quite certain that Soros; Draghi; and the current German Chancellor, Angela Merkel, have a cadre of armed guards around themselves, and their properties, 24/7, to insure that nothing like the horrific scenes we have seen in Germany; UK; and Sweden, ever happen to them, their families, or the places they call "home".

Unfortunately, the rest of Europe.... has not been so lucky.

Jun 24 07:25

DEAD ON ARRIVAL: A BRIEF POST-MORTEM ON THE US' REGIME-CHANGE OPERATION IN VENEZUELA

SOURCE: JOAQUIN FLORES VIA THE STRATEGIC CULTURE FOUNDATION
They say hindsight is 20/20, and nothing exemplifies that more than the kind of post-mortem that can be done on the failed attempt by the US to overthrow the government of Venezuela. Working through the lack of options that the US has in terms of regime-change in Venezuela, should lead towards a higher degree of investor confidence in the Bolivarian Republic.

We understand that there are ultimately only three ways to attack a target state until it collapses:

Supporting an internal coup/revolution or terrorism;

Economic embargo perhaps leading to or justified by 1, and;

Military invasion justified by the government’s reaction to 1

Jun 24 07:22

WALMART USES AI CAMERA TECH TO TRACK CHECKOUT THEFT AT 1,000 STORES

SOURCE: ENGADGET

Walmart's early use of AI at its stores isn't just for the sake of convenience. The retailer has confirmed to Business Insider that it's using camera-based computer vision tech to deter theft and losses at its checkouts (including self-checkouts) in over 1,000 stores. The simply titled Missed Scan Detection program notifies attendants if an item moves past a scanner without an actual scan, giving staff a chance to step in. Most of the incidents are unintentional, such as forgetful shoppers or fatigued cashiers, but Walmart is clearly hoping this will deter thieves hoping to make off with unscanned items.

The store chain is using tech from several companies, including Everseen. The technology has been in use for the past two years.

Webmaster's Commentary: 

This kind of AI is most probably in use at a number of other stores, and most likely for quite some time; they just haven't mentioned it to their clientele yet.

Jun 24 07:14

Shocking Before And After Photos Reveal The Truth About The Widespread Crop Failures The U.S. Is Facing In 2019

By Michael Snyder

Torrential rains have been hammering the heartland of America for months, and at this point vast stretches of farmland in the middle of the country are nothing but mud. As a result of the endless rain and unprecedented flooding that we have witnessed, millions of acres of farmland will have nothing planted on them at all in 2019, and that is a major national crisis...

Jun 24 04:30

Watch the Banking Index - Northman

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