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‘Kathleen Willey is a former White House volunteer. She said Bill Clinton sexually assaulted her during his first term in office – in his Oval Office private study.

She created “A Scandal a day” web site. Her book titled “Target: Caught in the Crosshairs of Bill and Hillary Clinton” became a best seller.

Willey created her web site to alert Americans about “the potential danger of Hillary Clinton becoming president.” Among an array of rogue presidential aspirants, she stands out as especially abhorrent – a menace to world peace, stability and security as well as what remains of homeland freedoms.’

Read more: Hillary Clinton’s Scandalous Record

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A great illustration on how corporations take control of countries, and how capitalism drives the expansion of the Military Industrial Complex.

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How Pentagon war fund became a budget buster Washington can’t resist

| 31 July 2015 | The number of U.S. troops deployed in battle zones is at its lowest level since before the 2003 invasion of Iraq. Still, Congress has authorized a 38 percent increase in the war budget over last year. The contradiction is the legacy of an emergency war fund, started in the aftermath of the Sept. 11, 2001, attacks [Bush/Cheney inside job], that has become a favorite Washington way to sidestep the impact of fiscal constraints on military spending. The Overseas Contingency Operations account, or OCO, has been tapped to fund tens of billions of dollars in programs with questionable links, or none, to wars, according to current and former U.S. officials, analysts and budget documents.

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As American Infrastructure Crumbles, Israel Signals May Ask for More US Military Aid Over Iran Deal

| 18 July 2015 | Israel signalled on Friday that it would ask the United States for increased military aid to ‘counter any threats’ that may arise as result of the international agreement on Iran’s nuclear programme. Israel [insanely] gets $3 billion in annual military aid from Washington under a package due to expire in 2017 and has in recent years secured hundreds of millions of dollars in additional U.S. funding for missile defence. Israel and the United States had been in talks on future grants but Israeli Prime Minister Benjamin Netanyahu suspended them in the run-up to Tuesday’s agreement which curtailed Iran’s nuclear projects, which he condemned as insufficient.

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Australian consumers are more worried about the medium term outlook than at the peak of the financial crisis, and rightfully so.

Source: @ANZ_WarrenHogan

As The Telegraph reports, by the end of the first quarter this year, Australia’s net foreign debt had climbed to a record $955bn, equal to an already unsustainable 60pc of gross domestic product, and is set to rise as RBA’s bet that depreciation in the value of the country’s currency would help to offset the decline in its overbearing mining industry hasn’t happened to the extent they would have wished.

 

 

Furthermore, as UBS explains, China’s real GDP growth cycles have become an increasingly important driver of Australia’s nominal GDP growth this last decade. With iron ore and coal prices plumbing new record lows, a Chinese (real) economy firing on perhaps 1 cyclinder, and equity investors reeling from China’s collapse; perhaps the situation facing Australia is more like Greece than many want to admit, as Gina Rinehart, Australia’s richest woman and matriarch of Perth’s Hancock mining dynasty stunned her workers this week: accept a 10% pay cut or face redundancies.

 

 

The government in Canberra and the Reserve Bank of Australia, The Telegraph explains,  had bet that depreciation in the value of the country’s currency would help to offset the decline in its overbearing mining industry. However, that hasn’t happened to the extent they would have wished.

Last month Gina Rinehart, Australia’s richest woman and matriarch of Perth’s Hancock mining dynasty delivered an unwelcome shock to her workers in Western Australia: accept a possible 10pc pay cut or face the risk of future redundancies.

 

Ms Rinehart, whose family have accumulated vast wealth from iron ore mining, has seen her fortune dwindle since commodity prices began their inexorable slide last year. The Australian mining mogul has seen her estimated wealth collapse to around $11bn (£7bn) from a fortune that was thought to be worth around $30bn just three years ago.

 

This colossal collapse in wealth is symptomatic of the wider economic problem now facing Australia, which for years has been known as the lucky country due to its preponderance in natural resources such as iron ore, coal and gold. During the boom years of the so-called commodities “super cycle” when China couldn’t buy enough of everything that Australia dug out of the ground, the country’s economy resembled oil-rich Saudi Arabia.

 

However, a collapse in iron ore and coal prices coupled with the impact of large international mining companies slashing investment has exposed Australia’s true vulnerability. Just like Saudi Arabia, which is now burning its foreign reserves to compensate for falling oil prices, Australia faces a collapse in export revenue.

 

Recently revised figures for April show that the country’s trade deficit with the rest of the world ballooned to a record A$4.14bn (£2bn). That gap between the value of exports and imports is expected to increase as the value of Australia’s most important resources reaches new multi-year lows. Iron ore is now trading at around $50 per tonne, compared with a peak of around $180 per tonne achieved in 2011. Thermal coal has also suffered heavy losses, now trading at around $60 per tonne compared with around $150 per tonne four years ago.

 

For an economy which in 2012 depended on resources for 65pc of its total trade in goods and services these dramatic falls in prices are almost impossible to absorb without inflicting wider damage. The drop in foreign currency earnings has seen Australia forced to borrow more in order to maintain government spending.

 

The respected Australian economist Stephen Koukoulas recently wrote of the dangers that escalating levels of foreign debt could present for future generations. Could a prolonged period of depressed commodity prices even turn Australia into Asia’s version of Greece, with China being its banker of last resort instead of the European Union.

As UBS further explains, China’s real GDP growth cycles have become an increasingly important driver of Australia’s nominal GDP growth this last decade.

 The property-driven slowdown in China’s GDP growth is continuing to having a disproportionately large negative impact on Australia’s economy. This is because China clearly remains Australia’s largest export destination, having peaked at a record high ~? share of total exports last year (equivalent to ~7% of GDP), but more recently retracing sharply to the current 28% share. This reflects the >20%y/y drop in Australia’s nominal exports to China in FY15 – which is on track to subtract ~1¼%pts y/y from nominal GDP.

 

In contrast, FY14 export values surged 26%y/y, adding 1¼%pts y/y to nominal GDP. Notably, this turnaround entirely reflects collapsing prices, which more than offset surging volumes. (Indeed, this overall fall in export values is despite a boom in Chinese tourism arrivals which are currently growing ~20%y/y.)

 

Weak Chinese demand remains a key downside risk for not only Australia’s economy but also the RBA & AUD outlook. The weakness in Chinese growth is having the most obvious negative impact on Australia because our basket of exports is (almost) uniquely concentrated in commodities (back down to ~? share), where China is generally the marginal price-setter. Indeed, after iron ore alone reached a 30% share of total Australian exports in 2013, the recent renewed collapse in iron ore prices saw its export share drop back closer to 20%. The price effect has been a key driver behind Australia’s terms of trade collapsing by ? since its peak in 2011.

 

This negative income shock is weighing heavily on Australia’s fiscal position, which has seen its deficit consistently worse than expected over that period; as well as leading to a ‘capex cliff’, which has seen the RBA cut rates and drag the AUD/USD down to a 6-year low. Indeed, an ABS survey of the outlook for mining investment in FY15/16 implies a ~37% collapse which could directly subtract a massive 2%pts y/y from nominal GDP. As such, weak Chinese demand remains a key downside risk for not only Australia’s economy but also the RBA & AUD outlook (with the latter still expected to depreciate further to 0.70USD ahead).

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As The Telegraph concludes, rather ominously,

The problem is that Australia, after decades of effort to diversify, is looking ever more like a petrodollar economy of the Middle East, but without the vast horde of foreign currency reserves to fall back on when commodity prices fall.

Instead, Australians must borrow to maintain the standards of living that the country has become accustomed to, which even some Greeks will admit is unsustainable.

http://www.zerohedge.com/news/2015-07-19/australia-next-greece

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by Frank Scott

The performance of fading imperial power becomes more dangerous with each new crisis it faces, whether real, imagined or the logical outcome of its weakening intellectual and moral foundation which threatens the material structure we call civilization. Even while Greece is being treated with the near economic savagery previously reserved for developing and non-european countries, the attempted step into reality in recognizing Iran’s importance in the world, especially its dominant role in the middle east, is accompanied by enough hypocritical gall and bloody arrogance to make ISIS look very reasonable by comparison.

Having suffered brutal western assault since their Islamic revolution of 1979 which discarded a minority government of European toadies for a more homegrown majority representation of its people, Iran has finally forced the USA, though not its seemingly conjoined-by-dollars twin Israel, to face at least a small part of reality. But this tiny recognition of what most of the world, especially many people in the middle east, already knows is accompanied by a tremendous amount of backlash-to-logic.

The bellowing of both the Israeli leadership and its Knesset Caucus in the USA continues treating Iran as some major threat to humanity and especially settler innocents in a colony of supremacists from Europe who’ve established a homeland in the middle of a Semitic world. But that’s okay because god said it was really theirs, a thousand or two thousand years ago or so. And even if many of those euros are atheists who say they don’t believe in god. Business is business and real estate is a big business, especially when the realtor is a deity.

The appalling arrogance necessary for the only nation to have invented and used nuclear weapons to stand over another and make sure it doesn’t create such a maniacal arsenal is enough to make hyenas and jackals barf as they perform nature’s dictates in eating the dead. But this is on a par with the settler chorus singing hosannas to peace and democracy while it bludgeons Palestinians into bloody colonial victims while its own collection of nuclear death dealing remains secret to all as long as they believe in the easter bunny and the tooth fairy.

The master race is indeed threatened by any rising independent power against its dominance in a world it considers its private market, especially the oil mall in the Middle East. Adherents to The Chosen psycho politics swear that Iran, as eventually the entire world, is intent on genocidal extermination of the Jewish nation. That last has been an ongoing program since biblical times, at least according to a minority interpretation, which could lead one to wonder how there are any people left who call themselves jewish. Given the reality of a near extermination of native people in what became the USA, and with no scriptural or historic evidence of any such plan beyond bloody racist colonial conquest, it may be miraculous that there are still descendants of native people here, though somehow, there are more Jews in the USA than Indians. And that’s without an Indian narrative of a euro-gentile-islamic-jewish conspiracy to annihilate them. Hmmm.

Material reality be damned, the American multi-cultural master race, even as it performs homicidal attacks on its own, is aligned with the never without existential threat chosen nation of Israel, even as it performs daily horror on palestinians in proving its godliness – even to its atheists –in screeching loud and clear the awful threat to humanity posed by Iran.

The most heavily armed nation that spends more money on weapons than any other and maintains foreign military bases in hundreds of countries should be feared, but it is not Iran. Except for those believers in the Easter Bunny and Tooth Fairy, it is the USA. And the most heavily armed military power in the Middle East, including nuclear weapons, is not Iran. Except for believers in the world being created in six days and the 911 conspiracy beginning on the seventh. Yet, this fanatic mindset with no substance in reality and as sensible as what provoked the racist murderer in South Carolina or the race supremacists in Tel Aviv would have it that Iran is a menace that must be contained. And who better to do the containing than the most belligerent, feared and hated countries in the world, asserted so by polling and arrived at by common sense and experience?

Those who espouse these political-economic-religious views do not try to hide the madness between their ears by wearing propeller beanies on their heads, so they are not identifiable simply by sight. They look just like us, even if they exercise infinitely more power than we have as long we allow them to reign under the guise of democracy. But if that up to now fictional theory doesn’t soon become practical reality, the idiocy that is bringing all of us closer to breakdown will not involve an idiot with a gun opening fire in a theater or a church, but maniacs with missiles, drones and nuclear weapons destroying more of the earth and its people than they have ever done before. Iran, like the rest of the world, deserves our respect as a nation and a people. As long as we allow ourselves to be led by disrespectful supremacists, we’ll have only ourselves to blame if or when the worst happens. We should take action before that dreadful day arrives.

email: fpscott@gmail.com

Frank Scott writes  political commentary and satire which appears online at the blog Legalienate

http://legalienate.blogspot.com

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In what is either the best example why one should never believe anything they read on the internet, or just blatant frontrunning of the last QE by a few years, earlier this week a woman from Kingsport, Tennessee was arrested for counterfeiting money. That in itself is not surprising – it was her justification why she did it: she told police that she thought she was doing nothing wrong because she had read online that President Barack Obama made a new law allowing her to print her own money.

Pamela Downs, 45

TimesNews reports that police were called to a local grocery store on Sunday night in regards to a complaint about counterfeit money. When the reporting officer arrived, he spoke with a gas station clerk who said that just prior to the officer’s arrival, a white female had handed him a $5 bill, which he suspected to be counterfeit.

Since the bill had been printed on regular computer paper and each side had been glued together (but was falling apart), the officer immediately recognized the bill as a fake.

The officer spoke with the female, identified as Pamela Downs, 45. After initially responding that she had gotten the fake bill from a gas station, Downs was asked by the officer if her purse could be searched, to which she agreed. Inside her purse, the officer found a $100 which was also counterfeit, according to the report. The bill was printed in black and white and the backside of the bill was upside down.

A couple of receipts from Walmart were also found inside the purse, showing Downs had purchased copy paper and a printer.

At that point she was arrested, and she gave the best money-counterfeiting “defense” we have heard in a long time:

I don’t give a ****, all these other bitches get to print money so I can too.

http://www.zerohedge.com/news/2015-07-16/tennessee-woman-arrested-printing-money-all-these-other-bitches-get-print-money-so-i

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‘The American Medical Association (AMA) is upping the ante in pursuit of total control over the medical industry. Outraged that acclaimed physicians like Dr. Mehmet Oz of The Dr. Oz Show would dare to speak on national television about issues that go untouched by many conventional doctors, the AMA has proposed new “ethical and professional guidelines” for physicians that threaten to censor doctors who deviate from what the AMA deems as medical gospel.

A group of medical students joined by residents and fellows from the AMA recently introduced a proposal before the AMA’s House of Delegates that outlines how physicians are to conduct themselves when speaking through mass media. Because they have the power to influence millions of people when speaking on television and radio, physicians like Dr. Oz “cannot function under the same guidelines as a physician counseling individual patients,” the group contends.’

Read more: Totalitarian medicine: Medical boards threaten to destroy careers of doctors who question Big Pharma

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The high cost of protecting the CIA’s opium routes and poppy fields in Afghanistan:

Afghan war costs American taxpayers $4 million per hour – study

| 14 July 2015 | New data show that America’s war in on Afghanistan is costing taxpayers roughly $4 million an hour, despite the Obama administration’s ‘drawdown’ of troops leaving only 10,000 soldiers in the country. Despite the colossal cost, the Obama administration and Afghan leadership both recognize the war will only end with peace negotiations, according to observers. More than $700 billion has been spent on the Afghan war since the George W. Bush administration authorized the invasion in 2001, including more than $35 billion in fiscal year 2015, according to figures from the National Priorities Project, a non-profit, non-partisan federal budget research group.

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Mark Anielski and Ellen Brown’s powerful 15-minute response to an interview at the Seizing an Alternative conference (and here, with videos here) with former World Bank economist Herman Daly and co-author John B. Cobb of For the Common Good (video should start at 1:04:43):

Video here: http://www.washingtonsblog.com/2015/07/15-minute-video-solutions-to-upside-down-economics.html

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Here is a brief sample of some of the measures the Chinese government and the PBOC have unleashed in just the past ten days to prop up the crashing market include:

  • a ban on major shareholders, corporate executives, directors from selling stock for 6 months
  • freezing more than half (1400 at last count per Bloomberg) of the listed companies from trading,
  • blocking fund redemptions, forcing companies to invest in the market,
  • halting IPOs,
  • reducing equity transaction fees,
  • providing daily bailouts to the margin lending authority,
  • reducing margin requirements,
  • boosting buybacks
  • endless propaganda by Beijing Bob.

The measures are summarized below.

But it wasn’t until last night’s first official threat to “malicious” (short) sellers that they face charges (i.e., arrest), as Xinhua reported yesterday:

[Ministry of Public Security in conjunction with the recent Commission investigation of malicious short stock and stock index clues ] correspondent was informed on the 9th morning , Vice Minister of Public Security Meng Qingfeng led to the Commission , in conjunction with the recent Commission investigation of malicious short stock and stock index clues show regulatory authorities to the operation of heavy combat illegal activities.

And SCMP confirmed:

China’s police will investigate clues pointing to potentially “malicious” short-selling of Chinese shares, state news agency Xinhua says on Thursday. The investigation will allow authorities to “punch back” against unspecified illegal activities, Reuters reports Xinhua saying on its official microblog, citing unidentified sources.

… that the wall of Chinese intervention finally worked. For now.

And since this is all about one thing, the stock, market, it is worth noting that the Shanghai Composite Index had dropped as much as 3.8% to a 4 month low before the news that the cops were going to arrest anyone who used a wrong discount rate in their DCF, when everything suddenly took off, and the SHCOMP closed  a “Dramamine required” 5.8% higher, the biggest daily increase since March 2009!

More Economic news: http://www.zerohedge.com/news/2015-07-09/china-soars-most-2009-after-government-threatens-sellers-arrest-global-stocks-surge

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The actual reason why the corporate-owned media bashes Donald Trump 24/7:

Trump vows to press Ford to cancel $2.5 billion Mexican plant that will ‘take away thousands’ of U.S. jobs

| 16 June 2015 | Republican presidential candidate and billionaire Donald Trump threatened [corpora-terrorists] Ford Motor Co. with punitive taxes if the Dearborn automaker proceeds with a new $2.5 billion Mexican plant that will “take away thousands” of U.S. jobs. In April, Ford said it would add 3,800 jobs in Mexico as part of a $2.5 billion investment — on top of the 11,300 Ford already employs in Mexico. The investment will include a new engine plant and new transmission plant allowing for exports of engines to the United States and elsewhere.

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It has been almost exactly one year since Micorsoft announced it would fire a record 18,000 people (surpassing the previous all time high layoff round of 5,800 in 2009) form a company that one upon a time seen as infallible as AAPL. So perhaps in order to release more funds with which to buy back its struggling stock, moments ago Microsoft did what it had to do to make corporate executives richer, and reported it would lay off another 7,700 workers.

From the press release:

Microsoft Corp. today announced plans to restructure the company’s phone hardware business to better focus and align resources. Microsoft also announced the reduction of up to 7,800 positions, primarily in the phone business. As a result, the company will record an impairment charge of approximately $7.6 billion related to assets associated with the acquisition of the Nokia Devices and Services (NDS) business in addition to a restructuring charge of approximately $750 million to $850 million.

Today’s announcement follows recent moves by Microsoft to better align with company priorities, including recent changes to Microsoft’s engineering teams and leadership, plans to transfer the company’s imagery acquisition operations to Uber, and shifts in Microsoft’s display advertising business that enable the company to further invest in search as its core advertising technology and service.

Today’s plans were outlined in an email from Microsoft CEO Satya Nadella to Microsoft employees.

“We are moving from a strategy to grow a standalone phone business to a strategy to grow and create a vibrant Windows ecosystem including our first-party device family,” Nadella said. “In the near-term, we’ll run a more effective and focused phone portfolio while retaining capability for long-term reinvention in mobility.”

Microsoft will record a charge in the fourth quarter of fiscal 2015 for the impairment of assets and goodwill in its Phone Hardware segment, related to the NDS business. This charge has no impact on cash flow from operations and is nondeductible for income tax purposes. Based on the new plans, the future prospects for the Phone Hardware segment are below original expectations. Accordingly, the company concluded that an impairment adjustment of its Phone Hardware segment assets and goodwill of approximately $7.6 billion is required.

http://www.zerohedge.com/news/2015-07-08/microsoft-fires-7800-second-biggest-mass-layoff-its-history

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In the aftermath of the latest breakout of the Greek crisis, Europeans across the continent, not just in Greece (even though with capital controls, potential deposit confiscation and currency devaluation they would have benefited by far the most), scrambled to buy physical gold and silver.

This is what the UK Royal Mint said a week ago, “During June, we experienced twice the expected demand for Sovereign bullion coins from our customers based in Greece.”

Other dealers had comparable experiences: “Most of our common gold coins are sold out,” Daniel Marburger, a director of Frankfurt-based CoinInvest.com, said by phone. “When people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold.”

GoldCore, which buys and sells bullion, reported coin and bar demand increased “significantly” on Monday. Sales to U.K. and Ireland today are about three times the average level for the past three Mondays, according to an e-mailed statement from the Dublin-based firm.

BullionVault, which operates the largest online physical gold trading platform, reported a jump in sales during the first half of this year, a sign of a broader increase.

Earlier today, we learned that the latest place that hit by the precious metal scramble was the US itself, when we learned that the US mint had suspended Silver Eagle sales as a result of a spike in demand, with our source advising that “all bullion distributors (like A-Mark, Dillon Gage, CNT, etc) were already raising premiums.”

more here: http://www.zerohedge.com/news/2015-07-07/us-mint-runs-out-silver-same-day-price-silver-plunges-2015-lows

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– World is “over-indebted”, Mark Faber tells Bloomberg
– “Defaults will follow or they will have to create very high inflation rates”
– Greece will leave EU or Troika will take 50% “haircut”
– Leaving EU may be Greece’s best option
– Anti-Austerity groups in other countries will be bolstered by Greek defiance – may have negative impact on bonds
– Recent stock market weakness due to weak global economy rather than Greece
– Chinese economy weak, markets could fall further
– Central banks to use Greece and China as excuse to maintain loose policy
– Faber is long-time advocate of holding physical gold

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