ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Apr 07 09:27

Ukraine’s annual inflation sees surprise rise at 45.8%

Official data show the annual inflation rate in crisis-hit Ukraine has jumped to 45.8 percent.

The increase follows a steep acceleration of 10.8 percent in March, according to the country's statistics office.

The eastern European nation, which had been the scene of a year of deadly clashes between its army and pro-Russia forces in the east, had a month-on-month inflation of 5.3 percent in February and 3.1 percent in January 2015.

A fragile deal between the Kiev government and pro-Russians signed in February almost ended the tensions. However, the country is left in the hands of a combination of monetary, budgetary, industrial, banking and energy crises that could make Kiev reliant on outside help for years.

Apr 07 09:26

FIXED FORTUNES: BIGGEST CORPORATE POLITICAL INTERESTS SPENT BILLIONS, AND GOT TRILLIONS IN RETURN

Between 2007 and 2012, 200 of America’s most politically active corporations spent a combined $5.8 billion on federal lobbying and campaign contributions. A year-long analysis by the Sunlight Foundation suggests, however, that what they gave pales compared to what those same corporations got: $4.4 trillion in federal business and support.

Apr 07 09:24

Greece offers 5 key points for consensus with intl creditors

Greek Finance Minister Yanis Varoufakis has unveiled his plan on reviving the Greek economy by both meeting the IMF requirements and circuiting the austerity measures. A preliminary agreement over proposal is expected on April 24.

Apr 07 09:20

BILLIONS OF CALIFORNIA FRACKING ‘WATER WASTING’ IGNORED

As California lawmakers decide if resident ‘water wasters’ should face jail time, based on a ‘snitch’ system,’ water agencies are busy working on higher rates and fees to penalize individual residents. As the main facilitator in the pollution of California's two biggest fresh water aquifers, the real question is “who will report California Governor Jerry Brown?”

Apr 07 09:12

All 16 U.S. Intelligence Agencies have begun to prepare for the biggest American collapse ever.

CIA Insider: “I was handed Janet Yellen’s playbook and what’s in it keeps me up at night”…

Should the contents of Janet Yellen’s playbook serve as a warning sign that something much more dangerous is approaching?

According to Jim Rickards, the CIA’s Asymmetric Warfare Advisor, the answer is yes.

In a startling interview

image: http://images.intellitxt.com/ast/adTypes/icon1.png
he reveals that all 16 U.S. Intelligence Agencies have begun to prepare for the biggest American collapse ever.

Making matters worse, his colleagues believe it could begin within the next 6 months.

Webmaster's Commentary: 

Let us say you own a business, and you hire a manager to run the business, then years later discover that this manager has not done a good job. Worse, he has been stealing from you, and lying to you to cover his tracks. So you decide to fire him, but the manager, your employee, pulls a gun on you and tells you you will not fire him, and indeed must give him a raise. That is what is happening today in the United States. The US Government, the employee of the people, has mismanaged the nation onto the edge of bankruptcy, lied to us, stolen from us, and now wants to point guns at us and tell us they should be allowed to keep their jobs, to go on stealing from us and lying to us.

Apr 07 08:59

Why U.S. Economic ‘Statistics’ Get More and More Absurd

Many recent commentaries have noted a distinct devolution in the numerical lies which the U.S. government calls its “economic statistics”. Numbers which used to be mere exaggerations (i.e. used to somewhat mirror the real world) have now become literally perverse: opposite to reality.

Apr 07 08:56

Credit-Default Hypocrites - How Wall Street is gaming the Greek bailout.

Remember that back in the housing crisis of 2008, it was largely the inability of AIG to make payment on the credit-default swaps it had sold that triggered the cascade of incipient failures that required enormous government intervention. Remember the $182 billion investment taxpayers made in AIG—$12.9 billion of which went straight to Goldman Sachs?

Webmaster's Commentary: 

So basically, how Wall Street is going to evade the Credit Default Swaps on Greece's (and eventually Europe's) default is they are going to simply vote not to honor those Credit Default Swaps, which means all those who bought those Credit Default Swaps are holding worthless paper! And now you know why Wall Street has armored defenses built right into the streets, for those occasions they screw their own customers.!

Apr 07 08:26

PNAC Project for a New American Century War Plan Map

Remember: when confused, when all other analysis seems to fail to make sense, come back to The Map, the PNAC Project for a New "American" Century. The duplicitous and misleading title of the project establishing Israel's (City of London's) empire that used American post 9/11 (inside job) concocted anti-Muslim enmity, its resources, its military, economic, and political might that will become the dominant political power of the planet long after the United States has been destroyed and left held responsible for the horrors visited on the world via the so-called "war on terror".

Apr 07 08:20

America's Poor Spend 60% Of Their Income On Food & Housing Proving CPI Is Meaningless

"For many Americans, the rise in food and housing prices is a tough squeeze. That’s because even in an era with low overall inflation low-income Americans spend a disproportionate share of their money on food and housing," WSJ notes, proving that once again, poor people aren't allocating their funds correctly.

Apr 07 08:17

Australia Regulator Furious As Central Bank Decision Leaked To HFTs For Third Time

For the third month in a row, FX 'traders' in AUD "guessed" the Reserve Bank of Australia's decision in the seconds before it was released to the public. Aussie regulators, seemingly furious at the blatant-ness of the front-running, confirmed they will be investigating the price spike overnight...

Apr 07 07:38

The 18 Most Horrifying Things Rich People Got Away With

The rich and powerful get perks the rest of us great unwashed do not: preferential treatment, access to things we can only imagine, and the ability to kill people and not spend the rest of their lives in jail.

Apr 07 07:04

It will take 100 years for the world’s poorest people to earn $1.25 a day

If you follow international news you will be accustomed to headlines announcing that world leaders have succeeded in cutting global poverty in half over the past couple of decades. Its sounds like brilliant news, but it’s just not true. The numbers have been furtively manipulated to make it seem as though our economic system is working for the majority of humanity when in fact it is not.

Apr 07 06:25

Should You Buy Property Together Before Marriage?

a survey conducted late last year by the real estate brokerage Redfin found that 38 percent of 2,021 American millennials have postponed or would postpone a wedding or honeymoon to buy a home.

Apr 07 01:48

Crude oil futures surge amid increased Saudi prices, reduced U.S. output

Crude oil futures surged on Monday, experiencing one of its highest daily-gains of the year, amid the rising cost of Saudi Arabian oil for Asian delivery and hopes for reduced output in the U.S.

On Sunday night, Saudi Arabia announced it is raising oil prices for May sales to Asia, marking the second straight month it has instituted a price hike for Asian buyers.

On the Intercontinental Exchange (ICE), brent crude for May delivery soared 5.94% or 3.23 to 58.23 a barrel, amid increasing margins for refiners. Prices for oil futures fell below $56 a barrel in U.S. morning trading before increasing steadily throughout the trading session to settle at $58.10.

Apr 06 20:15

The Chart That Shows How Everything Is Becoming a Computer

One of the winners of the mobile revolution has been ARM Holdings, which designs microchips for a variety of devices, from smartphones to fridges to cars ARM chips have become popular over the past decade for their relatively low power consumption, which is especially crucial for portable, battery-operated devices. (Intel, which is still the dominant chip company for desktop, laptop, and server PCs, has missed most of this trend. But it has kept trying.

Apr 06 17:35

Gold is beating stocks this year; here’s why

Apr 06 16:54

Socialism at Its Finest: Venezuela Facing Toilet Paper Shortage

It appears that the shortages are being caused by price controls, which is arguably one of the dumbest economic rules any nation can impose on their people.

Apr 06 15:31

28 Ways 'They' Rig The Market

Apr 06 14:59

Politics, ‘hypocrisy’ cost US global economic leadership: ex-Treasury chief

The US may no longer be in control of the global economy, warned former Treasury Secretary Lawrence Summers, urging Washington to regain dominance by honoring commitments and stopping its own hypocrisy.

Apr 06 13:31

Russia and China are getting rid of dollars

The world's Central banks are turning away from the dollar. The total volume of global foreign exchange reserves began to decline. This trend will entail a reduction in the demand for debt obligations of the U.S. and the EU. This would have an impact of the economy of developed Western countries. But the dollar remains the dominant currency.

Apr 06 12:45

Households are selling...

Apr 06 11:38

Why Isn’t Gasoline $1.75 Per Gallon?

Apr 06 11:27

Greece plans return to drachma and nationalization of banks

“We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,” said a senior official.

Greece is drawing up drastic plans to nationalise the country’s banking system and introduce a parallel currency to pay bills unless the eurozone takes steps to defuse the simmering crisis and soften its demands.

Sources close to the ruling Syriza party said the government is determined to keep public services running and pay pensions as funds run critically low. It may be forced to take the unprecedented step of missing a payment to the International Monetary Fund next week.

Apr 06 11:20

A Quiet Corporate Coup on Capitol Hill

Apr 06 10:50

GOOGLE-BACKED BITCOIN EXCHANGE BUTTERCOIN IS SHUTTING DOWN

Bitcoin exchange site Buttercoin is closing down, according to an announcement posted on the company’s site. In contrast to many cryptocurrency exchanges in the past that have closed down due to scams or heists, Buttercoin is ending services due to lack of funding. “We remain 100% secure & solvent with all customer funds accounted for,” the announcement said.

Apr 06 10:42

Chris Hedges: Boycott, Divest and Sanction Corporations That Feed on

All attempts to reform mass incarceration through the traditional mechanisms of electoral politics, the courts and state and federal legislatures are useless. Corporations, which have turned mass incarceration into a huge revenue stream and which have unchecked political and economic power, have no intention of diminishing their profits.

Apr 06 10:18

WHY ISN’T GASOLINE $1.75 PER GALLON?

Apr 06 09:35

Shining a Light on Corporate "Dark Money"

If 2014 was the “Year of Dark Money” in elections, then 2016 is likely to be the “Year of Way, Way More Dark Money” — that is, unless something big changes soon.

One of the most troubling aspects of the explosion of big money in politics in recent years is the rapid rise in spending by groups that aren’t required to disclose their donors.

Apr 06 08:52

This Is Why The US Just Lost Its Superpower Status According To Larry Summers

This past month may be remembered as the moment the United States lost its role as the underwriter of the global economic system. True, there have been any number of periods of frustration for the US before, and times when American behaviour was hardly multilateralist, such as the 1971 Nixon shock, ending the convertibility of the dollar into gold. But I can think of no event since Bretton Woods comparable to the combination of China’s effort to establish a major new institution and the failure of the US to persuade dozens of its traditional allies, starting with Britain, to stay out of it.

Apr 06 08:44

Jobs report's bad news is bad news

The best part about Friday's complete stinker of a jobs report is that it came on Good Friday when the stock market was closed.

With any luck, by the time the market re-opens on Monday, the report of a stunningly-low 126,000 jobs created in March will be fully absorbed and diluted along with a weekend full of marshmallow bunnies, chocolate eggs and whatever other news might develop.

Otherwise, it's a safe bet the stock market would be in bit of a tizzy right now as investors try to adjust to any or all of the following questions:

Apr 06 08:43

Guilty of Being Poor

When a community issues arrest warrants for more offenses than it has residents, something's deeply wrong.

Apr 06 08:41

Russia to Ratify BRICS “Foreign Currency Reserve Pool”

Russia intends to become the first country among the BRICS group of the world’s five leading emerging economies to ratify an agreement on the group’s foreign currency reserve pool, Russian Foreign Ministry Ambassador-at-Large Vadim Lukov said on Friday.

“An agreement will be ratified soon on establishing a pool of foreign currency reserves. Russia will most likely be the first country to do this,” the Russian envoy said.

Apr 06 08:28

Great News! Labor Market Conditions Collapse Sends Stocks To Strongest Opening Rally Of 2015

We can't make this up. Following Friday's dismal payrolls, today's Fed Labor Market Conditions Index (the aggregate index of all Yellen's indicators) collapsed to its lowest in almost 3 years. That was just the news that stocks needed to complete the biggest opening rally of the year so far.

Apr 06 08:27

Global Black Hole of Currency Derivatives

Apr 06 08:20

'Tokyo, We Have a Problem.' Bitcoin's Fatal Flaw?

The summary of Counselor Fogg's theory continues:

In fact, it's only if and when Tony Soprano publicly renounces his claim to the underlying bitcoin collateral he is owed that the bitcoins stand a chance of being treated as unencumbered. Until then, a hot potato claim risk exists for every future acquirer of Soprano's bitcoin.

Indeed, given the high volume of fraud and default in the bitcoin network, chances are most bitcoins have competing claims over them by now. Put another way, there are probably more people with legitimate claims over bitcoins than there are bitcoins. And if they can prove the trail, they can make a legal case for reclamation.

This could be a thorny problem. If you accept bitcoin in payment for something, how do you know that the person transferring it does not owe it to someone else?

Webmaster's Commentary: 

Short version: The bankers want control over bitcoin, despite its intended purpose of being a bankerless currency.

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