Apr 28

More than half of Britons are dependent on the state. That is too high:

 This week, the Office for National Statistics published figures showing the level of net dependency on the UK state. Their figures define net dependency as the proportion of households receiving more in benefits (including benefits in kind) than they pay in taxes. The figure now stands at 50.5 per cent.

In the 1980s and 1990s, this figure was just over 40 per cent – that is to say that around four in ten households received more in benefits than they paid in taxes. But this dramatically changed in the New Labour era, which left office with well over half of the population being deemed net dependent on the state. In 2010, the level of net dependency had jumped to 53.5 per cent, representing a 10 percentage point increase since a decade before.

H/t reader squodgy:

“Unsustainable, just like the £1.7 Trillion unserviceable National Debt.”

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Apr 28

Stocks Have Best Week Of The Year As Economy Grinds To A Halt

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Apr 28

Don’t Show President Trump This Chart

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Apr 27

US Consumers Tap Out: Credit Card Defaults Surge To 4 Year High And It’s Getting Worse

H/t reader squodgy:

“Surprise, surprise!
Here it comes….”

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Apr 26

Canada’s Housing Bubble Explodes As Its Biggest Mortgage Lender Crashes Most In History:

Call it Canada’s “New Century” moment.

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Apr 26

Fannie Introduces “Innovative Solutions” Allowing Student-Debt-Laden Millennials To Buy A Home

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Apr 26

How young rich-lister Sam Prince built the Zambrero fast-food empire:

SAM Prince is one of Australia’s richest Gen Y-ers, but you wouldn’t know it if you saw him walking down the street.

The 33-year-old founder of Zambrero, Australia’s largest Mexican chain, is as relaxed and down-to-earth as they come — but he is a man on a mission.

Ranked 10th in last year’s BRW Young Rich List, which placed his net worth at $294 million, Dr Prince has been on a relentless campaign to grow the business he founded as a 21-year-old medical student in 2005 with just $17,000.

In the past two years, Zambrero has more than doubled its reach from 71 to 164 stores, boosting his wealth as the sole owner of the franchise company.

H/t reader kevin a.

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Apr 26

U.S. Student Loan Implosion:

The Consumer Federation of America recently put out a press release that reports that they’ve found that 1.1 million student loan borrowers in the United States have gone 270 or more days without making payments on their Federal Direct Student Loans, with more than $137 billion worth of the loans issued by the U.S. government now qualifying as being in default by that standard.

Data from the CFA’s press release has made the rounds among multiple news outlets, but we have a pretty basic question: Are those big numbers? Continue reading »

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Apr 26

Study: India won’t be able to meet Paris Climate Agreement commitments due to expanding coal power plants:

AMERICAN GEOPHYSICAL UNION WASHINGTON, DC — India will not be able to meet its Paris climate agreement commitments in the coming years if it carries through with plans to build nearly 370 coal-fired power plants, a new study finds.

H/t reader kevin a.

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Apr 26

2016 Bilderberg Meeting:

Dresden, Germany 9-12 June

Final list of Participants

CHAIRMAN
Castries, Henri de (FRA), Chairman and CEO, AXA Group

Aboutaleb, Ahmed (NLD), Mayor, City of Rotterdam
Achleitner, Paul M. (DEU), Chairman of the Supervisory Board, Deutsche Bank AG
Agius, Marcus (GBR), Chairman, PA Consulting Group
Ahrenkiel, Thomas (DNK), Permanent Secretary, Ministry of Defence
Albuquerque, Maria Luís (PRT), Former Minister of Finance; MP, Social Democratic Party
Alierta, César (ESP), Executive Chairman and CEO, Telefónica
Altman, Roger C. (USA), Executive Chairman, Evercore
Altman, Sam (USA), President, Y Combinator Continue reading »

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Apr 25

One can claim, as CNBC has done today, that CAT had “tremendous earnings growth”. There is just one problem: this is also a tremendous lie.


About Caterpillar’s “Tremendous Earnings Growth”, There Is Just One Thing…:

With CAT and MCD accounting for over 100 of the 250+ Dow points today, one would think that, as CNBC has repeatedly stated today, these two companies are posting “tremendous earnings growth.”

And, in a way they are… a non-GAAP way. Because while CAT reported adjusted EPS of $1.28, up exactly 100% from a year ago  – almost as if it was goalseeked – something far less appetizing emerges when looking at CAT’s actual, GAAP EPS, which happen to be exactly one quarter of the non-GAAP number, or $0.32, a 30% drop from a year ago.

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Apr 25

FYI.


Central Banks Are Now Printing $200 Billion Per Month… Without a Crisis:

A tidal wave of inflation is rapidly moving through the financial system.

Most investors only pay attention to the Federal Reserve. And they are missing the BIG PICTURE for Central Bank monetary policy.

The Fed is tightening policy by hiking rates. But the rest of the world’s Central Banks are printing a combined $200 BILLION in QE every single month. Continue reading »

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Apr 25

Marissa Mayer To Leave Yahoo With $186 Million From Verizon Deal:

Marissa Mayer, the soon to be former YHOO Chief Executive, is set to make at least $186 million as a result of the internet company’s sale to Verizon Communications. The staggering figure is over seven times greater than the $23 million “golden parachute” Yahoo said last month that Mayer would receive as part of her planned departure from what’s left of the company after the sale to Verizon.

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Apr 24

Trade Wars Begin: Trump Announces 20% Tariff On Canadian Softwood Lumber Imports:

“We’re going to be putting a 20% tax on softwood lumber coming in, a tariff on softwood coming into the United States from Canada” said Donald Trump, and Wilbur Ross added that “we tried to negotiate a settlement but we were unable.”

….

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Apr 24

11 Facts That Prove The 2017 US Economy Is In Far Worse Shape Than It Was In 2016:

There is much debate about where the U.S. economy is ultimately heading, but what everybody should be able to agree on is that economic conditions are significantly worse this year than they were last year.  It is being projected that U.S. economic growth for the first quarter will be close to zero, thousands of retail stores are closing, factory output is falling, and restaurants and automakers have both fallen on very hard times.  As economic activity has slowed down, commercial and consumer bankruptcies are both rising at rates that we have not seen since the last financial crisis.  Everywhere you look there are echoes of 2008, and yet most people still seem to be in denial about what is happening.

The following are 11 facts that prove that the U.S. economy in 2017 is in far worse shape than it was in 2016… Continue reading »

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Apr 24

The Streak Is Over: Caterpillar Posts First Positive Retail Sales After 51 Months Of Declines:

After 51 consecutive months, the dead CAT spell is finally over.

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Apr 24

The Economic Crisis Will Hit , Banks Will Crash,Currency Won’t Exist – Where Can I Hide if the Global Economy COLLAPSES? Locations, Threats, Preparation!

H/t reader squodgy.

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Apr 24

China’s new jetliner completes final tests & ready for take off:

The first large Chinese passenger jet, the C919, has passed a crucial test and is expected to make its first flight in May. The plane is part of China’s ambitious plan to become one of the world’s biggest aircraft manufacturers.

High-speed taxiing tests at speeds of 230 – 260 kilometers per hour were carried out at Pudong International Airport when the pilots lifted the nose of the jet into the air and slammed on the brakes. They had to show the aircraft can stop safely on the runway in case of emergency. Continue reading »

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Apr 23

“The Retail Bubble Has Now Burst”: A Record 8,640 Stores Are Closing In 2017:

“Thousands of new doors opened and rents soared. This created a bubble, and like housing, that bubble has now burst.” – Richard Hayne, Urban Outfitters CEO, March 2017

The devastation in the US retail sector is accelerating in 2017, and in addition to the surging number of brick and mortar retail bankruptcies, it is perhaps nowhere more obvious than in the soaring number of store closures. Continue reading »

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Apr 23

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Apr 23

Revelations from a former international financier: “I was training to become a psychopath, and I failed”

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Apr 23

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Apr 22

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Apr 21

Why “Nothing Matters”: Central Banks Have Bought A Record $1 Trillion In Assets In 2017:

Central banks (ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, “the largest CB buying on record.”

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Apr 21

Fitch Downgrades Italy To BBB From BBB+

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Apr 20

Venezuela Seizes General Motors Car Plant:

“Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities,” GM said in a statement.

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Apr 20

For The First Time In Its History, Subway Shutters Hundreds Of US Stores:

For the first time in its 52 years of operation, Subway announced that it contracted in 2016, shuttering 359 US locations which as Bloomberg described was the “biggest retrenchment in the history of the restaurant chain” whose total store count dropped 1.3% from 27,103 in 2015 to 26,744 even as it remained the most ubiquitous fast-food eatery in the US, although McDonalds still tops if by sales.

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Apr 20

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Apr 20

Doug Casey Says the EU’s Collapse Is Now “Imminent”:

On April 23, French voters could drive the entire European Union into its grave.

Doug Casey and I recently discussed this historic election—and why it matters to US investors. Continue reading »

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Apr 20

The Father of the Euro: The Currency “Will Collapse”:

The Brexit was only the beginning.

Four months ago, Great Britain voted to leave the European Union (EU). The decision caught investors by surprise and triggered one of history’s most violent selloffs.

It erased more than $3 trillion from the global stock market in just two days. And the pound sterling, Britain’s currency, plunged 8% in one day. The pound is now trading at its lowest against the U.S. dollar in three decades. Continue reading »

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Apr 19

Gold Slammed For Second Day As ‘Someone’ Panic Dumps $3 Billion Notional Ahead Of London Fix:

Yesterday, ahead of the London Fix, Gold was monkeyhammered lower on yuuge volume, only to rip back higher. Today, having failed to keep the precious metal down, they went for it again with a $3 billion notional pummeling in futures…

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Apr 19

One Boston Employer Gave Potential Workers A Math And Drug Test; The Result Was Disturbing:

“One respondent said that during a recent six-month attempt to add to staff for a new product, two-thirds of applicants for assembly line jobs were screened out before hiring via math tests and drug tests; of 400 workers hired, only 180 worked out.”

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Apr 19

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Apr 19

Is Trump About To Flip Again: Ryan Says “TTIP Good For Global Order”:

From Obamacare to NATO, and from Ex-Im Bank to Chinese currency manipulators, President Trump has shown he is comfortable changing his mind ‘bigly’. Today’s exuberant support for “TTIP as good for global order,” from Speaker Ryan, following VP Pence’s meetings in Japan, raises questions about whether Trump’s executive order withdrawing from the Trans-Pacific Partnership (TPP) free trade agreement is the next big flip-flop.

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Apr 19

Investors Rage After 3 Billion Yuan Vanish From China’s Largest Private Bank:

“If we can’t even trust a big national bank, what other financial institutions can we trust?” Liu Min, who bought 12 million yuan worth of WMPs from Minsheng Bank, said as he learned that his money was gone.

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Apr 19

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Apr 19

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Apr 19

Austerity is over: after five years of belt tightening, the IMF says the rich world has stopped cutting:

Austerity is over as governments across the rich world increased spending last year and plan to keep their wallets open for the foreseeable future. Continue reading »

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Apr 18

Russia Takes $30 Million In Venezuela Oil Hostage Over Unpaid Debt

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Apr 18

“Now is the time” is used in mass mind-control (listen to Obama’s teleprompter speeches).

Personally, I would not invest in Canada’s marijuana boom, but rather into personal preparedness, because after the coming financial collapse everybody will just go totally crazy.

Otherwise, were it not also for the coming earth changes, it would probably be a great investment.


Now Is The Time To Invest In Canada’s Marijuana Boom

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H/t reader squodgy:

Yes please.”

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