Super Secret Treaty Will Push The Deindustrialization Of America Into Overdrive

Obama’s Super Secret Treaty Which Will Push The Deindustrialization Of America Into Overdrive (Economic Collapse, June 3, 2013):

Did you know that Barack Obama has been secretly negotiating the most important trade agreement since the formation of the World Trade Organization?  Did you know that this agreement will impose very strict Internet copyright rules, ban all “Buy American” laws, give Wall Street banks much more freedom to trade risky derivatives and force even more domestic manufacturing offshore?  If you have not heard about this treaty, don’t feel bad.  Obama has refused to even give Congress a copy of the draft agreement and he has banned members of Congress from attending the negotiations.  The plan is to keep this treaty secret until the very last minute and then to railroad it through Congress and have it signed into law by October.  The treaty is known as “the Trans-Pacific Partnership”, and the nations that are reported to be involved in the development of this treaty include the United States, Canada, Japan, South Korea, Australia, New Zealand, Chile, Peru, Brunei, Singapore, Vietnam and Malaysia.  Opponents of this treaty refer to it as “the NAFTA of the Pacific”, and if it is enacted it will push the deindustrialization of America into overdrive.The “one world” economic agenda that Barack Obama has been pushing is absolutely killing the U.S. economy.  As you will see later in this article, we are losing jobs and businesses at an astounding pace.  And each new “free trade” agreement makes things even worse.

For example, just check out the impact that the recent free trade agreement that Obama negotiated with South Korea is having on us

Read moreSuper Secret Treaty Will Push The Deindustrialization Of America Into Overdrive

Massive Economic Problems Are Erupting All Over The Planet (18 Signs)

18 Signs That Massive Economic Problems Are Erupting All Over The Planet (Economic Collapse, June 2, 2013):

This is no time to be complacent.  Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine.  In fact, a whole bunch of recent polls and surveys show that the American people are starting to feel much better about how the U.S. economy is performing.  Unfortunately, the false prosperity that we are currently enjoying is not going to last much longer.  Just look at what is happening in Europe.  The eurozone is now in the midst of the longest recession that it has ever experienced.  Just look at what is happening over in Asia.  Economic growth in India is the lowest that it has been in a decade and the Japanese financial system is beginning to spin wildly out of control.  One of the only places on the entire planet where serious economic problems have not already erupted is in the United States, and that is only because we have “kicked the can down the road” by recklessly printing money and by borrowing money at an unprecedented rate.  Unfortunately, the “sugar high” produced by those foolish measures is starting to wear off.  We are going to experience a massive amount of economic pain along with the rest of the world – it is just a matter of time.

But for the moment, there are a lot of skeptics out there.

For the moment, there are a lot of people that are declaring that the problems of the past have been fixed and that we are heading for incredibly bright economic times ahead.

Unfortunately, those people appear to be purposely ignoring the economic horror that is breaking out all over the globe.

The following are 18 signs that massive economic problems are erupting all over the planet…

Read moreMassive Economic Problems Are Erupting All Over The Planet (18 Signs)

Virtual Currencies Under Scrutiny: Bitcoin’s Next

Virtual currencies under scrutiny: Bitcoin’s next (RT, June 4, 2013):

Systems for virtual currencies, largely perceived as an alternative to crisis stricken traditional banking, are now pressed on all fronts. Since US federal prosecutors halted digital payment network Liberty Reserve, the Bitcoin currency is now under fire.

The largest exchange of the digital Bitcoin currency is now requiring all accounts to be verified as the US piles the pressure on the coin.

Read moreVirtual Currencies Under Scrutiny: Bitcoin’s Next

Gerald Celente Exposes Liar In Chief & Propagandist Obama – ‘A Price For Freedom?’ – Slavelandia! (Video)


YouTube Added: 31.05.2013

Description:

Overdue student loans reach record high, Barack Obama’s drone speech & 1.5 million people working at Mcdonald’s and Walmart combined! … Slavelandia!

Original release: 5/24/13.

www.TrendsJournal.com

China Is Reaping Biggest Benefits Of IRAQ Oil Boom

China Is Reaping Biggest Benefits of Iraq Oil Boom (New York Times, June 2, 2013):

BAGHDAD — Since the American-led invasion of 2003, Iraq has become one of the world’s top oil producers, and China is now its biggest customer.

China already buys nearly half the oil that Iraq produces, nearly 1.5 million barrels a day, and is angling for an even bigger share, bidding for a stake now owned by Exxon Mobil in one of Iraq’s largest oil fields.

“The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq,” said Denise Natali, a Middle East expert at the National Defense University in Washington. “They need energy, and they want to get into the market.”

Read moreChina Is Reaping Biggest Benefits Of IRAQ Oil Boom

Turkish Stocks Collapse Most In 10 Years, BIST-100 Drops 10.47%, Biggest Drop Since March 2003, Bond Yields Surge Most On Record

Turkish Stocks Collapse Most In 10 Years, Bond Yields Surge Most On Record (ZeroHedge, June 3, 2013):

UPDATE: BIST-100 Closes -10.47% – Biggest drop since March 2003

Until mid-last week, the Turkish equity market was up 90% from the start of 2012 and up 19.5% in 2013. Of course, why not. Global easy money and a nation in the middle of economic and geopolitical hotspots – buy it with both hands and feet. However, it appears reality is starting to sink in. Last week’s (and ongoing) social unrest is beginning to take the shine off the hot-money flows. The broad Turkish stock market is now down 17% from its highs last week (very reminiscent of Japan) having given up in 3 days the gains from the first five months of the year. Turkish bond yields also spiked (moar hot-money outflows from ‘reaching for yield’) by their most on record (71bps) to 6.78%.

Turkish Stocks…

Turkish Bonds…

Charts: Bloomberg

Why Do We Bother Paying Personal Taxes?

From the article:

“Since Mr. Krugman tells us all this spending and debt issuance/guarantees are not only good and necessary but in the long run, painless, why are we bothering with personal income taxes?

The US government will collect approximately $2.0bn this year in Personal Income and Payroll taxes.  But why?  Why are we even bothering with this when today’s leading economists and politicians are telling us that debts/deficits don’t matter and running up astronomical debts is a long-term painless process?  It’s practically patriotic.  So why shouldn’t we just add our tax burden to the list of items the Fed should be monetizing?  Seriously.  Why not relieve the burden on every tax paying citizen in the United States (about 53% of us according to Mitt Romney)?  You want an economic recovery?  Reduce my taxes to zero and see how fast I go out and start spending some of that extra income.”


Thought Experiment: Why Do We Bother Paying Personal Taxes? (ZeroHedge, June 3, 2013):

Submitted by Lucas Jackson

Thought Experiment: Why Do We Bother Paying Personal Taxes?

“Stupidity combined with arrogance and a huge ego will get you a long way.”
– Chris Lowe

I will admit right up front, I am not a fan of the views of Paul Krugman.  If Paul Krugman was to be given his way – and by and large he is being given his way – my children and grandchildren will be burdened in the future with paying back untold amounts of public debt just so his life and the lives of countless other Boomers can remain comfortable and embarrassment free today.

This is the essence of his grand plan for a US recovery – MOAR and MOAR debt.

Wow.  Genius.  Why I didn’t I think of that?  Just keep borrowing and printing, borrowing and printing.  Got it.  Now that I understand it, do I get a PhD?

Who’s going to pay the money back?  How will it effect future generations?  How will it effect the markets?  What will this do to civil society?

Read moreWhy Do We Bother Paying Personal Taxes?

U.S. Manufacturing ‘Unexpectedly’ Shrank In May At The Fastest Pace In 4 Years

Surprise Factory Downturn Holds Back U.S. Growth: Economy (Bloomberg, June 3, 2013):

Manufacturing (NAPMPMI) in the U.S. unexpectedly shrank in May at the fastest pace in four years, showing slowdowns in business and government spending are holding back the world’s largest economy.

The Institute for Supply Management’s factory index fell to 49, the lowest reading since June 2009, from the prior month’s 50.7, the Tempe, Arizona-based group’s report showed today. Fifty is the dividing line between growth and contraction. The median forecast of 81 economists surveyed by Bloomberg was 51.

Across-the-board federal budget cuts and overseas markets that are struggling to rebound will probably continue to curb manufacturing, which accounts for about 12 percent of the economy. At the same time, demand for automobiles, gains in residential construction and lean inventories may spark a pickup in orders and production in the second half of the year.

Read moreU.S. Manufacturing ‘Unexpectedly’ Shrank In May At The Fastest Pace In 4 Years

Bilderberg 2013: Full List Of Attendees

The Full List Of 2013’s Bilderberg Attendees (ZeroHedge, June 3, 2013):

The only thing more ominous for the world than a Hindenburg Omen sighting is a Bilderberg Group meeting. The concentration of politicians and business leaders has meant the organisation, founded at the Bilderberg Hotel near Arnhem in 1954, has faced accusations of secrecy. Meetings take place behind closed doors, with a ban on journalists. We suspect the agenda (how the US and Europe can promote growth, the way ‘big data’ is changing ‘almost everything’, the challenges facing the continent of Africa, and the threat of cyber warfare) has been somewhat re-arranged as market volatility picks up and the status quo begins to quake once again.  The annual gathering of the royalty, statesmen, and business leaders, conspiratorially believed to run the world (snubbing their Illuminati peers and Freemason fellows), will take place this week at the Grove Hotel in London, England.

The Telegraph provides the full list of attendees below – for those autogrpah seekers – including Britain’s George Osborne, US’ Henry Kissinger, Peter Sutherland (the chairman of Goldman Sachs), the Fed’s Kevin Warsh, Jeff Bezos?, Peter Thiel, Italy’s Mario Monti, and Spain’s de Guindos.

Bilderberg delegates in full

  • Chairman: Henri de Castries, Chairman and CEO, AXA Group
  • Paul M. Achleitner, Chairman of the Supervisory Board, Deutsche Bank AG
  • Josef Ackermann, Chairman of the Board, Zurich Insurance Group Ltd
  • Marcus Agius, Former Chairman, Barclays plc
  • Helen Alexander, Chairman, UBM plc

    Read moreBilderberg 2013: Full List Of Attendees

‘Markets Under The Spell Of Monetary Easing’ Bank Of International Settlements Finds … Same As ‘Then’

“Markets Under The Spell Of Monetary Easing” Bank Of International Settlements Finds… Same As “Then” (ZeroHedge, June 2, 2013):

Then….

Ben Bernanke 7/1/2005, CNBC interview:

INTERVIEWER: Tell me, what is the worst-case scenario? We have so many economists coming on our air saying ‘Oh, this is a bubble, and it’s going to burst, and this is going to be a real issue for the economy.’ Some say it could even cause a recession at some point. What is the worst-case scenario if in fact we were to see prices come down substantially across the country?

BERNANKE: Well, I guess I don’t buy your premise. It’s a pretty unlikely possibility. We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s gonna drive the economy too far from its full employment path, though.

Read more‘Markets Under The Spell Of Monetary Easing’ Bank Of International Settlements Finds … Same As ‘Then’

It’s A ‘0.6%’ World: Who Owns What Of The $223 Trillion In Global Wealth

Full article here:

It’s A “0.6%” World: Who Owns What Of The $223 Trillion In Global Wealth (ZeroHedge, June 2, 2013):

Back in 2010 we started an annual series looking at the (re)distribution in the wealth of nations and social classes. What we found then (and what the media keeps rediscovering year after year to its great surprise) is that as a result of global central bank policy, the rich got richer, and the poor kept on getting poorer, even though as we predicted the global political powers would, at least superficially, seek to enforce policies that aimed to reverse this wealth redistribution from the poor to the rich (a doomed policy as the world’s legislative powers are largely in the lobby pocket of the world’s wealthiest who needless to say are less then willing to enact laws that reduce their wealth and leverage). Now that the topic of wealth distribution (or rather concentration) is once again in vogue, below we present the latest such update looking at a global portrait of household wealth. The bottom line: 29 million, or 0.6% of those with any actual assets under their name, own $87.4 trillion, or 39.3% of all global assets.

Here are the key highlights via Credit Suisse:

The ‘GOOD NEWS’: Italy Labor Union Predicts Return To Pre-Crisis Employment By 2076 – Now The BAD NEWS: ‘The Level Of Real Wages Will NEVER Recover’

You can’t make this stuff up!


Italy Labor Union Predicts Return To Pre-Crisis Employment By 2076 (ZeroHedge, May 2013):

By now it is conventional wisdom that the Italian economy is foundering alongside all other peripheral European nations as a result of a failed artificial currency leading to an inability for external rebalancing, a flawed monetary system leading to a collapse in credit demand, and the lack of any structural reform (and sorry, but when your budget deficit is soaring alongside your debt it’s anything but “austerity’s fault”). However, there is hope. According to Italy’s trade union CGIL, good news may be just around the corner as Italy looks set to recover its pre-crisis unemployment level… In 2076, or a brief 63 years from now. “So, you’re telling me there’s a chance.”

From Quotidiano:

It will take 63 years to recover employment levels of 2007. Only in 2076 will Italy return to the 25,026,400 units of labor standards in 2007 from 23,531,949 in 2014. This is stated in the office economic study of CGIL, which takes as its starting point the current context.

Some other metrics may not need to wait three generations until they “recover”, among which GDP, which should return to pre-crisis levels in 2026, investment – by 2024, and productivity should be back in a brisk three years.

So much for the good news.

Now the bad news: “the level of real wages will never recover.”

We are not sure if this was the base case, or the optimistic one. In either case, at least Italy has the Euro, and all that No Plan B “political capital” backing it.

Marc Faber: ‘People With Financial Assets Are All Doomed’

Marc Faber: “People With Financial Assets Are All Doomed” (ZeroHedge, June 1, 2013):

As Barron’s notes in this recent interview, Marc Faber view the world with a skeptical eye, and never hesitates to speak his mind when things don’t look quite right. In other words, he would be the first in a crowd to tell you the emperor has no clothes, and has done so early, often, and aptly in the case of numerous investment bubbles. With even the world’s bankers now concerned at ‘unsustainable bubbles’, it is therefore unsurprising that in the discussion below, Faber explains, among other things, the fallacy of the Fed’s help “the problem is the money doesn’t flow into the system evenly, how with money-printing “the majority loses, and the minority wins,” and how, thanks to the further misallocation of capital, “people with assets are all doomed, because prices are grossly inflated globally for stocks and bonds.” Faber says he buys gold every month, adding that “I want to have some assets that aren’t in the banking system. When the asset bubble bursts, financial assets will be particularly vulnerable.”

Excerpted from Barron’s:

On the error of the Fed’s ways:

Read moreMarc Faber: ‘People With Financial Assets Are All Doomed’

Top 1% Own 39% Of All Global Wealth – Bottom 50% Only Own 1% Of All Global Wealth – 1 Billion People Go To Bed Hungry Every Night

Top 1% Own 39% Of All Global Wealth: Hoarding Soars As We Hurtle Toward Economic Oblivion (Economic Collapse, May 31, 2013):

According to a study that was just released by Boston Consulting Group, the wealthiest one percent now own 39 percent of all the wealth in the world.  Meanwhile, the bottom 50 percent only own 1 percent of all the wealth in the world combined. The global financial system has been designed to funnel wealth to the very top, and the gap between the wealthy and the poor continues to expand at a frightening pace.  The global elite continue to hoard wealth and heap together enormous mountains of treasure in these troubled days even though the economic suffering around the planet continues to grow.  So exactly how have the global elite accumulated so much wealth?  Well, one of the primary ways is through the use of debt.  As I have written about previously, there is about 190 trillion dollars of debt in the world but global GDP is only about 70 trillion dollars.  Our debt-based global financial system systematically transfers wealth from us and our governments into the hands of the global elite.  And of course the gigantic banks and corporations that the elite control are constantly gobbling up everything of value that they can find: natural resources, profitable small businesses, real estate, politicians, etc.  Money, power, ownership and control are becoming very, very tightly concentrated at the top of the food chain, and that is a very dangerous thing for humanity.  When too much money and power gets into too few hands, it almost always results in tyranny.

What will eventually happen when the global elite have ALL the wealth?

Read moreTop 1% Own 39% Of All Global Wealth – Bottom 50% Only Own 1% Of All Global Wealth – 1 Billion People Go To Bed Hungry Every Night

British Taxpayers To Pay ‘MILLIONS’ Towards Secretive BILDERBERG Meeting Security

Taxpayers are likely to have to pay millions towards the cost of policing the secretive Bilderberg meeting of the global elite due to gather in Hertfordshire next week.


The Grove Hotel in Watford. The town is an unglamorous location for this year’s Bilderberg meeting. Photo: The Grove

British taxpayers to pay ‘millions’ towards secretive Bilderberg meeting security (Telegraph, May 30, 2013):

The clandestine meeting of royalty, prime ministers and business chiefs is taking place in Britain for the first time since 1998, sparking fears of “violence and disturbance” by protesters.

The Bilderberg organisers, who include Tory Cabinet minister Ken Clarke, do not release a guest list but a roll-call of luminaries are expected to descend on a luxury Watford hotel from June 6, forcing police to step up security.

Hertfordshire police have refused to release the cost of security for the event, which has previously drawn anti-capitalist demonstrators in other locations around the world.

However, they are in talks with the Home Office about a grant for “unexpected or exceptional costs” that is only given out if it threatens the stability of the force’s policing budget. The final bill would have to total more than one per cent of the police force’s overall spend – or about £1.8 million – for the grant to be successful.

The invitation-only Bilderberg meetings are attended by around 140 members of the international elite.

Previous guests are thought to have included Henry Kissinger, David Rockefeller, Prince Charles, Peter Mandelson, David Cameron and Queen Beatrix of Holland but the list of attendees is different every year.

Read moreBritish Taxpayers To Pay ‘MILLIONS’ Towards Secretive BILDERBERG Meeting Security

Germany Fears Revolution If Europe Scraps Welfare Model

That battle is already lost:

Greece: Prostitution Soars By 150% – Prostitutes Lower Their Price As Low As 5 EUROS – Youth Unempoyment Hits 75% In Some Areas

Greek Unemployment Hits New Record High, Youth Jobless Rises By 5% In ONE MONTH To 64.2%

20 Signs That The Next Great Economic Depression Has Already Started In Europe

Europe’s Scariest Chart Leaves 1 in 4 Young People Unemployed

Spain Is Beyond Doomed (The Atlantic)

Spain: Unemployment Tops Record, Rising At Fastest Rate In A Year:

an incredulous 57.2% of under-25s out of work, Spain is closing in on Greece, according to official data, for the worst youth unemployment situation in Europe.

Prepare for the collapse of the entire global financial system.


Germany fears revolution if Europe scraps welfare model (Reuters, May 28, 2013):

German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, and dropping the continent’s welfare model in favor of tougher U.S. standards would spark a revolution.

Germany, along with France, Spain and Italy, backed urgent action to rescue a generation of young Europeans who fear they will not find jobs, with youth unemployment in the EU standing at nearly one in four, more than twice the adult rate.

“We need to be more successful in our fight against youth unemployment, otherwise we will lose the battle for Europe’s unity,” Germany’s Schaeuble said.

While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe’s welfare model.

If U.S. welfare standards were introduced in Europe, “we would have revolution, not tomorrow, but on the very same day,” Schaeuble told a conference in Paris.

Read moreGermany Fears Revolution If Europe Scraps Welfare Model

Bloomberg: ‘This Should Make Every American’s Blood Boil’ – Citigroup Settles IN SECRET On Housing Fraud Charges

Another Oligarch Wrist Slap: Citigroup Settles in Secret on Housing Fraud Charges (Liberty Blitzkrieg, May 31, 2013):

Guess what just happened?  In case you forgot, the Federal Housing Finance Agency (FHFA) had previously accused Citigroup of violating securities laws and making misrepresentations of billions of mortgage bonds.  Unsurprisingly, Citigroup settled, which is just a euphemism for an “oligarch wrist slap.” What’s really disturbing is that the settlement amount will remain a secret, which takes cronyism to yet another despicable level.  After all, take a look at the man who runs the Treasury Department.

From Bloomberg:

The conservator for Fannie Mae and Freddie Mac was eager for publicity in September 2011 when it sued 17 financial institutions, accusing them of ripping off the two government-backed housing financiers. It isn’t so enthusiastic anymore.

This week the U.S. Federal Housing Finance Agency told a federal judge it had settled its case against Citigroup Inc. The agency won’t say how much money Citigroup is paying. Neither will Citigroup, which survived the financial crisis only because it got multiple taxpayer bailouts. The parties agreed to keep the terms confidential. The government has decided this is none of the public’s business.

The agency had accused Citigroup of violating securities laws and making misrepresentations about $3.5 billion of mortgage bonds that it sold to Fannie and Freddie during the housing bubble, before they were seized by the government. This is the second such lawsuit to be resolved so far. In January, the agency dropped its suit against General Electric Co. after reaching a deal over mortgage bonds sold to Freddie Mac. In that case, too, the terms weren’t disclosed.

This should make every American’s blood boil. The government is devoting taxpayer resources to pursue these claims in court. The public is entitled to know the results. It’s that simple.

Read moreBloomberg: ‘This Should Make Every American’s Blood Boil’ – Citigroup Settles IN SECRET On Housing Fraud Charges

The Smart Money Is Heading For The Exits, Getting Out Of Stocks And Real Estate

Why Is The Smart Money Suddenly Getting Out Of Stocks And Real Estate? (Economic Collapse, May 30, 2013):

If wonderful times are ahead for U.S. financial markets, then why is so much of the smart money heading for the exits?  Does it make sense for insiders to be getting out of stocks and real estate if prices are just going to continue to go up?  The Dow is up about 17 percent so far this year, and it just keeps setting new record high after new record high.  U.S. home prices have risen about 11 percent from a year ago, and some analysts are projecting that we are on the verge of a brand new housing boom.  Why would the smart money want to leave the party when it is just getting started?  Well, of course the truth is that the “smart money” is regarded as being smart because they usually make better decisions than other people do.  And right now the smart money is screaming that it is time to get out of the markets.  For example, the SentimenTrader Smart/Dumb Money Index is now the lowest that it has been in more than two years.  The smart money is busy selling even as the dumb money is busy buying.  So precisely what does the smart money expect to happen?  Are they anticipating a market “correction” or something bigger than that?

Read moreThe Smart Money Is Heading For The Exits, Getting Out Of Stocks And Real Estate

U.S. Student Loan Delinquency Rate Hits New Record High

Related info:

Student Loan Bubble? Just Discharge It!

40 Statistics About The Fall Of The U.S. Economy That Are Almost Too Crazy To Believe


The Student Loan Delinquency Rate In The United States Has Hit A Brand New Record High (Economic Collapse, May 29, 2013):

37 million Americans currently have outstanding student loans, and the delinquency rate on those student loans has now reached a level never seen before.  According to a new report that was just released by the U.S. Department of Education, 11 percent of all student loans are at least 90 days delinquent.  That is a brand new record high, and it is almost double the rate of a decade ago.  Total student loan debt exceeds a trillion dollars, and it is now the second largest category of consumer debt after home mortgages.  The student loan debt bubble has been growing particularly rapidly in recent years.  According to the Federal Reserve, the total amount of student loan debt has risen by 275 percent since 2003.  That is a staggering figure.  Millions upon millions of young college graduates are entering the “real world” only to discover that they are already financially crippled for decades to come by oppressive student loan debt burdens.  Large numbers of young people are even putting off buying homes or getting married simply because of student loan debt.

Read moreU.S. Student Loan Delinquency Rate Hits New Record High

8,000 Occupy Wall Street Protesters Have Been Arrested Vs Zero Bankers

The Scorecard: 8,000 Wall Street Protesters Arrested, Zero Bankers (Liberty Blitzkrieg, May 28, 2013):

America really has become the “land of the thief, home of the slave.”  While a minority of awake citizens desperately tries to shake their neighbors from their deep slumber, the masses continue to sit in front of the television, suck their thumbs and watch Desperate Housewives, while the oligarchs laugh incredulously at them all the way to the bank.

We all know that Attorney General Eric Holder couldn’t find a guilty banker if it came up to him and sat on his lap, but these statistics are pretty amazing and a testament to how apathetic and lost of a culture we have become.  This database of all the Occupy protestors arrested and where it happened is pretty cool.

From the Huffington Post:

Here’s a fact that may make your blood boil: Nearly 8,000 Occupy Wall Street protesters have been arrested in association with the activist movement, while not one banker has been prosecuted for the actions that lead up to the country’s financial meltdown.

Read more8,000 Occupy Wall Street Protesters Have Been Arrested Vs Zero Bankers

Former Fonterra CEO Henry van der Heyden: ‘That’s my point about China. You will be full of surprises. Don’t ever trust them…never..’ – AND NOW: ‘China Is Where New Zealand’s Future Is.’

You can’t make this stuff up!



Auckland Airport chairman-in-waiting Henry van der Heyden warned exporters in a speech about doing business with the Chinese. Photo / Richard Robinson

I’m sorry for China comments: ex – Fonterra head (New Zealand Herald, May 28, 2013):

Former Fonterra chairman Sir Henry van der Heyden has apologised to “China and its people and Government ” for warning New Zealand businesses not to trust the Chinese.

Van der Heyden broke at lunchtime from his final board meeting as a Fonterra director to issue his public apology over comments made at a Tauranga business women’s conference.

“It was an ill-judged comment taken out of context,” he told the Business Herald. “I apologise to China, its people and its Government.”

“China is where New Zealand’s future is.”

Van der Heyden was earlier reported as saying doing business in China was full of surprises. “You’ve got to go and do business with your eyes wide open.”

Asked by an export manufacturer how small New Zealand businesses could ensure they were not ripped off when trading in China, Sir Henry said bad experiences should be used as opportunities to learn.

“That’s my point about China. You will be full of surprises. Don’t ever trust them…never..”

He later said the real intent of his comment was, “Be wary, be very careful.”

Read moreFormer Fonterra CEO Henry van der Heyden: ‘That’s my point about China. You will be full of surprises. Don’t ever trust them…never..’ – AND NOW: ‘China Is Where New Zealand’s Future Is.’

China’s Growth Forecast Lowered By IMF

Nothing coming from China is real.

All economic numbers are totally ‘massaged’ to the upside, whereas power consumption is collapsing.


China’s growth forecast lowered by IMF (Guardian, May 29, 2013):

China needs ‘continued liberalisation and reduced government involvement’ in economy, says deputy IMF managing director David Lipton

China needs to make a “decisive push” to launch new market-oriented reforms and has to control rapid credit growth that could lead to financial problems, the International Monetary Fund said on Wednesday.

The fund trimmed its growth forecast for China this year from 8% to 7.75% because of weaker global demand but said the Chinese economy should remain robust.

Read moreChina’s Growth Forecast Lowered By IMF