Economy

The US Dollar Is About To Inflict Carnage All Around The Planet

by

– The US Dollar Is About To Inflict Carnage All Around The Planet (Th Automatic Earth, Oct 3, 2014):

As I watch the euro losing another 1.3% against the dollar today, it’s now at $1.25, and down from close to $1.40 recently, it’s getting clearer all the time: the greenback is busy eating currencies and economies alive.

There is of course the fact that Abenomics in Japan is living up to its longstanding promise of utter failure. And there is Mario Draghi torn between two lovers, one the one hand the Germany/Austria camp – with France as a surprise third – who don’t want the ECB to buy up junk paper, and on the other hand those EU members whose sole road to survival inside the EU is for Draghi to buy up anything that even looks like it was once toilet paper.

But Japan and Europe have been in the economic doghouse for a long time. It wasn’t until the Fed pulled the trigger on the dollar steamroller that they started paying the real price for it.

Read moreThe US Dollar Is About To Inflict Carnage All Around The Planet

Detroit Water Shutoff Bankruptcy Crisis Deepens (Video)

by


Oct 4, 2014

Description:

The Detroit water shutoff for people who have fallen two months behind on their water bill will continue, after the moratorium on the shutoffs was overturned. With Detroit struggling with recession and rampant bankruptcy, and resources to contact the water department failing to keep up with demand, the water shutoffs have been harder to overturn and outsourced to independent contractors that are not following the regulations to insure citizens are not being denied their necessary resources. We look at video from Detroit, and discuss the collapse of a human right in Detroit on the Lip News with Mark Sovel and Elliot Hill.

Dr. Paul Craig Roberts: Poverty Report Contradicts GDP Claims – ‘We Call It Democracy, But It’s Not’

by

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

– Poverty Report Contradicts GDP Claims (Paul Craig Roberts, Oct 2, 2014):

It is amazing how the government manages to continue selling Brooklyn Bridges to a gullible public. Americans buy wars they don’t need and economic recoveries that do not exist.

The best investment in America is a highly leveraged fund that invests only in large cap companies that are buying back their own stocks. Many of the firms repurchasing their stocks are borrowing in order to push up their stock prices, executive “performance bonuses,” and shareholders’ capital gains. The debt incurred will have to be serviced by future earnings. This is not a picture of capitalism that is driving the economy by investment.

Neither is consumer spending driving the economy.The US Census Bureau’s 2013 Income and Poverty Report concludes that in 2013 real median household income was 8 percent below the amount in 2007, the year prior to the 2008 recession and has declined to the level in 1994, two decades ago!

Read moreDr. Paul Craig Roberts: Poverty Report Contradicts GDP Claims – ‘We Call It Democracy, But It’s Not’

The Economics Of Revolution (Video)

by


Sep 17, 2014

Description:

“Corruption, greed and economic inequality have reached a peak tipping point,” writes David Degraw. “Due to the consolidation of wealth, the majority of the population cannot generate enough income to keep up with the cost of living. In the present economy, under current government policy, 70% of the population is now sentenced to an impoverished existence.”

In this special 3rd anniversary of Occupy Wall St. edition of Acronym TV, David DeGraw sits down with Dennis Trainor, Jr.

David’s new book, The Economics of Revolution, is now available from DavidDeGraw.org.

DeGraw, who is advocating for a guaranteed income for all US residents, states: “If people could just wrap their head around the fact that we have over $94 Trillion in wealth in the United States, I think we would have a revolution overnight. It has gotten to the point where it would only take 0.5% of the 1%’s wealth to eliminate poverty nationwide.”

About the guest |
David DeGraw is an author and an organizer. An early organizer with Occupy Wall Street, David is credited by many as starting the We Are the 99% meme that launched a movement. He is an independent investigative journalist. In February 2010, DeGraw published a book called “The Economic Elite Vs. The People of the United States of America.” The last section of the book was a call to action, using the concept of 99 percent of American income earners.

Charting Obama’s Economic ‘Recovery’

by

obama-hand-sign

– Obama’s Economic Recovery In Pictures (STA Wealth Management, Oct 1, 2014):

On Thursday, President Obama will give a speech at Northwestern University’s Kellogg School of Management on the economy. This issue is critical going into the mid-term elections as virtually every poll shows this is a top concern of voters.

The question of economic recovery is interesting in the context of where that recovery has occurred.  As I discussed recently in “For 90% Of Americans, There Has Been No Recovery,”while the ongoing interventions by the Federal Reserve have inflated asset prices, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else.

Read moreCharting Obama’s Economic ‘Recovery’

Here We Go Again: Greece Will Be In Default Within 15 Months, S&P Warns

by

greece-athens
Athens, Greece, Nov. 2012

– Here We Go Again: Greece Will Be In Default Within 15 Months, S&P Warns (ZeroHedge, Oct 4, 2014):

Remember Greece: the country that in 2010 launched Europe’s sovereign solvency crisis and the ECB’s own helpless attempts at intervention, which later was “saved”, only to default shortly thereafter (but without triggering CDS as that would end the Eurozone’s amusing monetary experiment and collapse the Deutsche Bank $100 trillion house of derivative cards), which later was again “saved” when every single global central bank made sure Greek bonds became the only yield-generating securities in the world? Well, the country which at last count was doing ok, is about to not be ok. Because according to none other than S&P, at some point over the next 15 months, Greek debt is about to be in default when the country is no longer able to cover its financing needs. In other words, back to square one.

Read moreHere We Go Again: Greece Will Be In Default Within 15 Months, S&P Warns

Clearly Europe Has A Crushing Deflation Problem… Oh Wait … It Says Rising Prices/Inflation

by

–  Clearly Europe Has A Crushing Deflation Problem… Oh Wait (ZeroHedge, Oct 4, 2014):

When Mario Draghi set off on his latest quest to slay Europe’s deflation monster, after an endless array of failed alphabet soup programs to inject money into stock markets mysteriously failed to fix Europe’s insolvent economy riddled by record unemployment and trillions in non-performing loans, he clearly was guided by this latest Eurobarometer survey of Public Opinion in the European Union, in which virtually everyone across the board admitted that the most important issue facing the common folk in Europe is plunging prices and crushing deflation.

rising prices

Oh wait… it says rising prices/inflation.

Well, that’s embarrassing. Please ignore everything we just said, because paradoxically to “fix” Europe, Mario Draghi is desperately trying to make Europe’s biggest problem even worse.  Or not: surely this is just a case when the 6 members of the ECB’s executive board “know better” than some 330 million Europeans.

Read moreClearly Europe Has A Crushing Deflation Problem… Oh Wait … It Says Rising Prices/Inflation

Russia Completes Ratification Of Eurasian Economic Union, As Putin Signs Law

by

Russia completes ratification of Eurasian Economic Union, as Putin signs law

– Russia completes ratification of Eurasian Economic Union, as Putin signs law (RT, Oct 3, 2014):

Russian President Vladimir Putin has signed a law ratifying a historic treaty, committing Russia to an economic union with Belarus and Kazakhstan. The Eurasian Economic Union will come into effect in January 2015.

Putin’s signature in the document puts the final dot in Russia’s ratification of the union which will be in place on January 1, 2015, as the other union states are expected to complete ratification in the next few days.

The economic union is the next step of integration within the Customs Union between the three countries. The agreement had previously been ratified by the Russian State Duma and the Federal Council of Russia.

Read moreRussia Completes Ratification Of Eurasian Economic Union, As Putin Signs Law

RECOVERY: Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

by

– Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force (ZeroHedge, Oct 3, 2014):

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slid from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232,000 people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!

And that’s how you get a fresh cycle low in the unemployment rate.

labor participation rate sept 2014

So the next time Obama asks you if you are “better off now than 6 years ago” show him this chart of employment to the overall population: it speaks louder than the president ever could.

Read moreRECOVERY: Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force

World Bank Whistleblower Karen Hudes: The Criminal Banking Cartel Will Soon Be HISTORY (Video)

by


30.06.2014

Sorry for the drama, just trying to do right by our listeners.. Here’s the original interview with a short caveat. The interview begins at 6:05.

Karen Hudes, the Acting General Counsel of the World Bank joins us to discuss the impending collapse of the international criminal banking cartel which Karen says is “imminent”. We discuss the worldwide BOND FRAUD, the 9/11 false flag event, and the fact that Karen says China isn’t bankrupting the FED, we are. The American people and a U.S. DEBT-FREE currency will rise from the ashes after the FEDERAL RESERVE and the FEDERAL RESERVE NOTE collapse – and that day is right around the corner.

Karen’s site:
http://kahudes.net/

China Housing Bubble Bursts: Q3 Land Sales Crater 50%

by

– China Housing Bubble Bursts: Q3 Land Sales Crater 50% (ZeroHedge, Sep 29, 2014):

China may be doing everything in its power to divert attention from the simple fact that its housing bubble, the largest in the world in terms of both assets comprising it as well as divergence from fair value, has burst. But while there is no clear threshold of what constitutes a bursting bubble when it comes to housing, the latest data out of Soufun, China’s largest real-estate website, which said that land sales have dropped a massive 22% to 1.7 trillion Yuan in 2014 so far, is likely as clear an indication as any that Beijing is about to panic.

And if that was not enough Bloomberg adds that land sales in 300 cites followed by Soufun fell almost 50% Y/Y to 415.9 billion yuan in 3Q, while residential land sales declined more than 50% to 265.3b yuan in 3Q.

Read moreChina Housing Bubble Bursts: Q3 Land Sales Crater 50%

PIMCO Liquidations Begin; And So Does The Retaliation: All Bill Gross Tweets Deleted

by

Liquidation

– PIMCO Liquidations Begin; And So Does The Retaliation: All Bill Gross Tweets Deleted (ZeroHedge, Sep 29, 2014):

The last few days have been hectic for PIMCO executives. As we already noted, expectations of outflows persist and today’s open in CDS markets suggested major concerns among market participants that PIMCO redemptions would force selling through an illiquid market. Sure enough, Bloomberg reports that PIMCO’s Total Return Fund ETF was behind the auction of more than $170m of Fannie Mae CMBS on Friday (and more BWICs were seen today). As one trader noted, “you’re going to sell your most liquid stuff first.” Additionally, PIMCO has seen fit to delete all Bill Gross’ tweets… so here are the last six months for the record.

As Bloomberg reports, the PIMCO liquidations have begun…

Read morePIMCO Liquidations Begin; And So Does The Retaliation: All Bill Gross Tweets Deleted

Whopping Two-Thirds Of PIMCO’s Flagship Fund May Be Withdrawn

by

– Gross To Have Final Laugh? Whopping Two-Thirds Of PIMCO’s Flagship Fund May Be Withdrawn (ZeroHedge, Sep 29, 2014):

The reason why the first article we wrote on Friday after news hit that PIMCO co-founder was shockingly leaving the firm on Friday, was listing the massive bond fund’s biggest holdings, was because it was only a matter of time: it, being of course, the massive redemptions that would follow Gross’ departure by people that his 30+ tenure at the bond fund made very rich, and who couldn’t care less about a brief central planning-inspired flame out. After all Gross isn’t the first person who has lost the plotline due to the Fed’s manipulation of every market.

Read moreWhopping Two-Thirds Of PIMCO’s Flagship Fund May Be Withdrawn

Hong Kong Stocks Tumble Erase 2014 Gains, Volatility Soars As Protests Freeze City: Full Summary

by

– Hong Kong Stocks Tumble Erase 2014 Gains, Volatility Soars As Protests Freeze City: Full Summary (ZeroHedge, Sep 29, 2014):

The Hong Kong protests, which we covered over the weekend, and which took a dramatic turn for the worse overnight when thousands of students camped out and demand universal suffrage on the city streets and were in turn tear-gassed and arrested en masse by the local riot police demanding students disperse or else, and where the leader of the student protest, Joshua Wong – who had been previously arrested and was released on Sunday night – has openly called for the resignation of Hong Kong Chief Executive Leung Chun-ying in an interview with Hong Kong Cable TV, have done the unthinkable: they have impacted financial markets and the “wealth effect” transmission mechanism of the local billionaires.

Here as a summary of the latest market activity via Bloomberg:

The US Is Now 50% More Unequal Than Ancient Rome (And That Includes Slaves)

by

–  The US Is Now 50% More Unequal Than Ancient Rome (And That Includes Slaves) (ZeroHedge, Sep 29, 2014):

As we previously noted, only the highest income earners have seen any gains in compensation since the crisis began around 2007 to the current ‘recovery’ tops. It is perhaps not entirely surprising then that, the total income controlled by the Top 1% is drastically above that of the slave-included times of Ancient Rome and as high as the peak in the roaring 20s. “The greatest irony is that the President is railing against inequality as one of the most important problems of the day, despite the fact that his policies are squeezing the middle class and causing the Fed – with the President’s encouragement – to engage in the radical monetary policy, which is exacerbating inequality. This simple truth cannot be repeated often enough.”

…

 

Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs

by

It is said that 80% of the New York Fed is owned by just 8 families:

Goldman Sachs, Rockefeller, Lehman, Kuhn Loeb, Rothschild, Warburg, Lazard and Israel Moses Seif.

– Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs (Economic Collapse, Sep 29, 2014):

For years, many people have suspected that the New York Fed is more or less controlled by the “too big to fail” banks.  Well, now we have smoking gun evidence that this is indeed the case.  A very brave lawyer named Carmen Segarra made a series of audio recordings while she was working for the New York Fed.  The 46 hours of meetings and conversations that she recorded are being called “the Ray Rice video for the financial sector” because of the explosive content that they contain.  What these recordings reveal are regulators that are deeply afraid to do anything that may harm or embarrass Goldman Sachs.  And it is quite understandable why Segarra’s colleagues at the New York Fed would feel this way.  As a recent Bloomberg article explained, it has become “common practice” for regulators to leave “their government jobs for much higher paying jobs at the very banks they were once meant to regulate.”  If you think that there is going to be a cushy, high paying banking job for you at the end of the rainbow, you are unlikely to do anything that will mess that up.

To say that the culture at the New York Fed is “deferential” to big banks such as Goldman Sachs would be a massive understatement.

Read moreSmoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs

Gerald Celente : ‘Another New War!’ … Slowing Economy, More Stimulus (Video)

by


Sep 24, 2014

“US home sales tumble in August, Mario Draghi wants to impose larger stimulus measures in Europe & the beginning of US airstrikes upon Syria. Trends Journal subscribers got the first hint of a possible Syrian airstrike more than 7 weeks ago!”

Original release: 9/23/14.

The ECB, European Commission And IMF Threatened To Bankrupt Ireland

by

– Revealed – the Troika threats to bankrupt Ireland (The Irish Independent, Sep 28, 2014):

Honohan: ECB officials agreed to threaten Ireland with bankruptcy if the government tried to burn bondholders

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan.

Mr Honohan, who famously told the nation Ireland would be entering the Troika bailout programme live on radio as government ministers were publicly denying it, also revealed he was kept out of loop about the meeting.

Read moreThe ECB, European Commission And IMF Threatened To Bankrupt Ireland

‘I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want’

by

Suicide-Banker-Blankfein-Goldman-Sachs

– “I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want”  (ZeroHedge, Sep 28, 2014):

…

If you can’t beat it, may as well bid it. That, at least, is the take home lesson to Nanex’ Eric Hunsader who says that after listening to the “Goldman Tapes” I’m putting everything in GS – because these guys can do whatever the hell they want“…

…

Great Historical Quotes – If You Read These In Order, They Tell A Story …

by

“There is a principle which is a bar against all information, which is proof against all arguments, and which cannot fail to keep a man in everlasting ignorance – that principle is contempt prior to investigation.”
– Herbert Spencer (William Paley according to Wikiquote)

– Great Historical Quotes (TrueWorldHistory):

If you read these in order, they tell a story…

“Who controls the past controls the future. Who controls the present controls the past.” – George Orwell

“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” – Plato

“Just because you do not take an interest in politics doesn’t mean politics won’t take an interest in you.” – Pericles

Read moreGreat Historical Quotes – If You Read These In Order, They Tell A Story …

JACOB SCHIFF: THE MOST INFLUENTIAL MAN IN U.S. HISTORY

by

… has been working for the Rothschild’s.

Both families were living in the same house in Frankfurt.

Full article here:

– JACOB SCHIFF: THE MOST INFLUENTIAL MAN IN U.S. HISTORY:

A reader asks, “Mike, all roads eventually lead to the Rothschilds of Europe; but who do you think was the most powerful Jew in American history?”

Upon first thought, that almost seems like asking who the greatest baseball player of all time was. Was it Ruth? Gehrig? DiMaggio? Williams? Mays? Mantle? Bonds? (pre & post steroids) There are so many deserving candidates that it appears impossible to say with absolute certainty.

A strong case for the MVZ Award (Most Valuable Zionist) can be made for Paul Warburg, Bernard Baruch, Adolph Ochs, William Paley, Eugene Meyer, Arthur Hays Sulzberger, David Sarnoff, Jack Warner, Carl Laemmle, Henry Morganthau, George Soros, Henry Kissinger, Sumner Redstone, Michael Eisner and a few others. Just ‘Google’ each of those names and marvel at the power which the chosen ones have wielded over the last century. And although they weren’t Jews, the Rockefellers and Morgans were not lacking in political-economic muscle either.

Read moreJACOB SCHIFF: THE MOST INFLUENTIAL MAN IN U.S. HISTORY

V The Guerrilla Economist: ‘The Big One Is Coming’ (Video)

by

FYI.

H/t reader squodgy:

“More than coincidence.

All of this, like GMO, Climate Engineering, Vaccines & Pandemics, Wars, Common Core/Purpose, Market manipulation showing false growth, Gold suppression in face of exponential demand, covert inflation, unemployment with massive unfunded state subsidies which, with perpetual National insolvency it is not just random coincidence.

The relentless consistency of each by increments show it is impossible for all of it to be chance, all are being carefully orchestrated.“

Related info:

Gold confiscation in 1933:

– On This Day In 1933:

By January 1934, Roosevelt increased the dollar price of gold from $20.67 to $35, thus devaluing the dollar by 70 percent while increasing the value of gold that the government now owned.

“Gold confiscation” today:

– Governments Worldwide Are Implementing Orwellian Gold Confiscation Today. You Just Haven’t Realized it Yet.:

This article also explains how gold protected your financial assets in the past:

Now imagine you had converted your $20,000 into gold in 1913. In 1913, gold was priced at $18.92 an ounce. Therefore $20,000 would have bought 1,057 ounces of gold. Instead of holding $20,000 in the bank since 1913, had you converted this COUNTERFEIT money in the form of US dollars into the REAL money of gold and simply held 1,057 ounces of gold in a vault (granted one outside of the US) since 1913, your 1,057 ounces of vaulted gold would now be worth 1,057 ounces * 1,580 an ounce = $1,670,060 2013 dollars.

Here’s what happened to the U.S. dollar:

Dollar-Purchasing-Power-1913-to-2013


Sep 27, 2014

An ANP Exclusive Interview with “V The Guerrilla Economist”

(Note- The last portion of the interview had some sound issues, even after everyone rebooted and reconnected, but the meat and potatoes of the interview was in the first 25 minutes and clear as can be. The article that will be linked here explains what was said at the end)

Article link: http://www.allnewspipeline.com/The_Bi…