Jun 27

Rockefeller-nwo-New World Order

FYI.


alan-greenspan

Greenspan Warns A Crisis Is Imminent, Urges A Return To The Gold Standard:

On Friday afternoon, after the shocking Brexit referendum, while being interviewed by CNBC Alan Greenspan stunned his hosts when he said that things are about as bad as he has ever seen.

“This is the worst period, I recall since I’ve been in public service. There’s nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away. I’d love to find something positive to say.”

Strangely enough, he was not refering to the British exodus but to America’s own economic troubles.

Today, Greenspan was on Bloomberg Surveillance where in an extensive, 30 minutes interview he was urged to give his take on the British referendum outcome. According to Greenspan, David Cameron miscalculated and made a “terrible mistake” in holding a referendum. That decision led to a “terrible outcome in all respects,” Greenspan said. “It didn’t have to happen.” Greenspan then noted that as a result of Brexit, “we are in very early days a crisis which has got a way to go”, and point to Scotland which he said will likely have another referendum on its own, predicting the vote would be successful, and Northern Ireland would “probably” go the same way. Continue reading »

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Jun 27

FYI.


Jim Rogers: Brexit Blowback “Worse Than Any Bear Market You’ve Ever Seen”

When it comes to being direct and offering up some truth, one can rest assured that Jim Rogers is a prime candidate to do both.

In an interview with Yahoo! Finance, the legendary investor had some candid and quite unnerving things to say about the global market in the aftermath of Brexit.

This is going to be worse than any bear market that you’ve seen in your lifetime. 2008 was pretty bad because of debt, well the debt all over the world is much, much higher now. Stocks in the US for instance have been going sideways for 18 months, 24 months. That’s called distribution by many people, so when you have distribution for a year and a half, it usually leads to bad things.”

If that was too upbeat, Rogers unveils his bear scenario: Continue reading »

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Jun 26

24.06.2016

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Jun 26

The $555 Trillion Derivatives Debt Implosion Is About to Begin

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Jun 22

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Jun 21

Jun 16, 2016

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Jun 21

No more ‘US & UN trickery’: Bankrupt Puerto Ricans flood San Juan demanding decolonization:

Ahead of next week’s visit by the UN decolonization committee and buried in economic debt, some 500 activists with the Puerto Rico independence movement took to the streets of Old San Juan to demand freedom from US rule.

There were two purposes to the Saturday march, according to Liliana Laboy, one of the members of the Independentista Roundtable, speaking to EFE: “To insist that it’s time to start the decolonization process that will bring us independence, and to support the hearings this Monday.” Continue reading »

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Jun 19

junk

The Problem With Corporate Debt:

Taking Off Like a Rocket

There are actually two problems with corporate debt. One is that there is too much of it… the other is that a lot of it appears to be going sour.

frank-modell-that-s-harvey-beston-he-s-in-junk-bonds-new-yorker-cartoon

Harvey had a good time in recent years…well, not so much between mid 2014 and early 2016, but happy days are here again!

As a brief report at Marketwatch last week (widely ignored as far as we are aware) informs us: Continue reading »

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Jun 19

30 BLOCKS OF DOG SHIT & SUGAR TAXES:

Dog shit and sugar taxes tell you everything you need to know about the corrupt Philly politicians and people living in West Philly. A match made in 30 Blocks of Squalor heaven. There is no solution. This city is too far gone. The people of West Philly have been indoctrinated into this lifestyle over generations. It will eventually end in tears when the city goes bankrupt and the welfare money dries up. Then it will burn.

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Jun 19

statue-of-liberty-crying

Noam Chomsky On The Breakdown Of American Society & A World In Transition:

The US is facing uncertain times. While it remains the only global superpower, it is no longer able to influence events and outcomes to its liking, at least not for the most part. Frustration and worry about the risk of upcoming disasters seem to far outweigh US voters’ hopes for a more rational and just world order. Meanwhile, Noam Chomsky argues, the rise and popularity of Donald Trump is occurring due to the fact that US society is breaking down.

In this exclusive interview with Truthout, Noam Chomsky addresses contemporary developments in both the United States and around the world and challenges prevailing views about class warfare, neoliberalism as the outcome of economic laws, the role of the US as a global power, the status of emerging economies and the power of the Israel Lobby.

CJ Polychroniou: Noam, you have said that the rise of Donald Trump is largely due to the breakdown of American society. What exactly do you mean by this? Continue reading »

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Jun 19

Jun 13, 2016

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Jun 18

You are currently living through the dumbest monetary experimental end game in history (including Havenstein and Gono’s):

We have seen several explanations for the financial crisis and its lingering effects depressing our global economy in its aftermath. Some are plain stupid, such as greed for some reason suddenly overwhelmed people working within finance, as if people in finance were not greedy before 2007. Others try to explain it through “liberalisation” which is almost just as nonsensical as government regulators never liberalised anything, but rather allowed fraud, in polite company called fractional reserve banking, to grow unrestrained. Some point to excess savings in exporting countries as the culprit behind our misery. Excess saving forces less frugal countries reluctantly to run deficits, or so the argument goes.

While some theories are pure folly, others are partial right, but none seem to grasp the fundamental factor that pulled and keep pulling the world into such unsustainable constellations witnessed in global finance, trade and capital allocation. Continue reading »

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Jun 17

Rio Declares State Of “Public Calamity”, Warns Of Total Collapse In Security, Health And Transport:

Earlier today, the IAAF announced that Russian track and field athletes would be banned from the Rio Oympics due to allegations of systematic doping. Rune Andersen, who heads the IAAF task force overseeing Russia’s attempts to reform, said that a “deep-seated culture of tolerance, or worse, appears not to be materially changed”. “No athlete will compete in Rio under a Russian flag,” he said.

Perhaps instead of fighting this decision, Putin’s response should be a simple “thanks” because just hours later, and just 49 days before the start of the Olympics, the Rio state government declared a state of “public calamity” (yes, that’s the technical term) warning of a risk of total collapse in public security, health, transport and virtually everything else, because as the local government explained, the financial crisis is preventing it from fulfilling its requirements for the Games. Continue reading »

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Jun 17

The Stock Market Crash Of 2016: Stocks Have Already Crashed In 6 Of The World’s 8 Largest Economies

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Jun 16

Question of the Day: When Was the Last Time the Yield on German 10-Year Bonds Went Negative?:

Think back. Many readers have been trading for 10 or 20 years. A few have been trading for 30 or more years. What was it like the last time German 10-year bond yields went negative?

That is sort of a trick question. Most likely you were not alive, no matter how old you are.

As translated from Spanish, my friend Guru Huky posted the answer on his blog today: And the last time the German bond stood negative was …. surprise surprise.

German 10-Year Yield Since 1807

Hyperinflation_10YBund

Huky Comments Continue reading »

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Jun 15

Industrial Production Plunges For 9th Straight Month – Longest Non-Recession Streak In 100 Years:

For the 9th month in a row, US Industrial Production declined YoY – down by 1.4% – with 0.4% monthly drop twice as bad as expected. Every subcomponent of the data also declined markedly. Most worryingly, and despite near record highs in stocks, this is the longest streak of IP weakness without a broad economic recession in US history… it’s different this time?

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Jun 15

How Would You Survive Hyperinflation in Venezuela?:

Venezuela is currently in the throes of a devastating economic collapse that was spawned by the ignorant socialist policies of the Chavez/Maduro government. Everything is falling apart there. The water system, the roads, the electrical grid, the hospital, and especially the food distribution system. Venezuelans are so desperate that they are forced to scrounge for food in dumpsters and hunt down cats and dogs. Crime is rampant as well, and the capital city of Caracas now has the highest murder rate in the world. Mobs of vigilantes are frequently seen picking up the slack of the corrupt police; that is, when they’re not busy looting grocery stores. Venezuela is practically a war zone now. Continue reading »

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Jun 13

20160612_protest5_0

Violent Riots And Looting Are Now A Daily Occurrence In Venezuela:

Last month we reported that citizens in Venezuela had finally become so desperate for food that angry mobs flooded the streets and looted all of the supermarkets that were rumored to still have anything left on their shelves.

Not long after, tired and hungry protesters took to the streets of Caracas once again, this time marching toward the presidential palace as they chanted “No more talk – we want food!.” The mob was able to get within about six blocks of the palace before police in riot gear blocked the way, and began to shoot tear gas into the crowd to disperse the protest.

And now, as president Maduro remains defiant on allowing a referendum to take place to vote on his ouster, food riots and violent looting are taking place every day in a stark reminder of just how far the socialist utopia has fallen. Continue reading »

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Jun 10

Caught On Tape: Starving Venezuelans Storm A Truck To Steal Chickens:

Another day, another glimpse into what a descent into socialist purgatory looks like, this time courtesy of a clip of starving Venezuelans storming a stopped farm truck to steal live chickens.

In a society such as this one, which has effectively disintegrated, these lucky few who show brutal initative and an animal determination, will have fresh dinner.

Millions of others will remain hungry.

 

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Jun 10

Despite “The Biggest F##king Bailout Ever” This Analyst Says S&P Will Drop 80%:

“I can’t tell you how long it’s going to take but I’m anticipating an 80% drop or 70% drop, something in that neighborhood. Tobin’s Q got down to 0.54 in 2009…The reason it didn’t go lower is because we had the biggest fucking bailout ever orchestrated in the history of the banking system…”

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Jun 09

EBT-cards

EBT Card Outage?: It Is 8 Days Into June And Many Americans Are STILL Waiting For Food Stamp Money:

Widespread reports continue to pour in from all over the nation of “glitches” with the food stamp system.  It is eight days into the month and large numbers of people still have not received their benefits, and in other instances it is being reported that EBT cards are simply not working correctly.  So what in the world is going on here?  On downdetector.com there are scores of reports of problems with the EBT system from people all over the nation.  Could this simply be another example of government incompetence, or is something else at work here?

I had heard some rumblings about this over the past few days, but I had not really taken them seriously until I read an article from highly respected author Ray GanoContinue reading »

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Jun 09

Oklahoma Cops Unveil New Device Enabling Direct Seizure Of Bank Accounts, Credit Cards:

We have covered the disgusting topic of civil asset forfeiture numerous times (most recently here), but the latest move by Oklahoma police is quite simply shocking.

As News9 reports,

You may have heard of civil asset forfeiture.

That’s where police can seize your property and cash without first proving you committed a crime; without a warrant and without arresting you, as long as they suspect that your property is somehow tied to a crime.

Now, the Oklahoma Highway Patrol has a device that also allows them to seize money in your bank account or on prepaid cards.

It’s called an ERAD, or Electronic Recovery and Access to Data machine, and state police began using 16 of them last month.

Here’s how it works. If a trooper suspects you may have money tied to some type of crime, the highway patrol can scan any cards you have and seize the money. 

The local police chief explains… “it’s not about taking money…” Continue reading »

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Jun 09

pink-slip

Mass Layoffs To Return With A Vengeance:

How safe is your job?

Remember the mass layoffs of 2008-2009? The US economy shed millions of jobs quickly and relentlessly, as companies died and the rest fought for survival.

Then the Fed and the US government flooded the banks and the corporate sector with bailouts and handouts. With those giga-tons of liquidity sloshing around, as well as taking on massive amounts of new cheap debt, companies were able to finance their working capital needs, hire workers back, and even buy-back their shares en mass to make themselves look deceptively profitable. The nightmare of 2008 soon became a golden era of ‘recovery’.

Well, 2016 is showing us that that era is over. And as stock prices cease to rise, and in fact fall within many industries, layoffs are beginning to make a return as companies jettison costs in attempt to reduce losses.

Since January 1st, here is but a subset of the headlines we’ve seen: Continue reading »

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Jun 09

George Soros As The Fighting Uruk-hai With Jacob Rothschild As Saruman


George Soros Is Preparing For Economic Collapse – Does He Know Something That You Don’t?:

Why is George Soros selling stocks, buying gold and making “a series of big, bearish investments”?  If things stay relatively stable like they are right now, these moves will likely cost George Soros a tremendous amount of money.  But if a major financial crisis is imminent, he stands to make obscene returns.  So does George Soros know something that the rest of us do not?  Could it be possible that he has spent too much time reading websites such as The Economic Collapse Blog?  What are we to make of all of this?

The recent trading moves that Soros has made are so big and so bearish that they have even gotten the attention of the Wall Street Journal

Worried about the outlook for the global economy and concerned that large market shifts may be at hand, the billionaire hedge-fund founder and philanthropist recently directed a series of big, bearish investments, according to people close to the matter.

Soros Fund Management LLC, which manages $30 billion for Mr. Soros and his family, sold stocks and bought gold and shares of gold miners, anticipating weakness in various markets. Investors often view gold as a haven during times of turmoil. Continue reading »

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Jun 09

Temporary Help Services

Something Big That Always Happens Right Before The Official Start Of A Recession Has Just Happened:

What you are about to see is major confirmation that a new economic downturn has already begun.  Last Friday, the government released the worst jobs report in six years, and that has a lot of people really freaked out.  But when you really start digging into those numbers, you quickly find that things are even worse than most analysts are suggesting.  In particular, the number of temporary jobs in the United States has started to decline significantly after peaking last December.  Why this is so important is because the number of temporary jobs started to decline precipitously right before the last two recessions as well.

You see, when economic conditions start to change, temporary workers are often affected before anyone else is.  Temporary workers are easier to hire than other types of workers, and they are also easier to fire. Continue reading »

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Jun 08

Media comment: One third of middle class couldn’t pay £500 bill:

Speaking about research released today which found that one third of middle class families would need to borrow money to pay an unexpected bill of £500, Caroline Rookes, Chief Executive for the Money Advice Service said:

‘This research confirms the findings of the 2015 Financial Capability Survey and clearly shows that levels of financial capability among the UK remain stubbornly low. This problem is not exclusive to the middle classes – across the UK people from all walks of life are ill prepared for a financial shock and therefore are at risk of losing control of their finances. A “spend today rather than save for tomorrow” mentality means that millions of people lack the financial resilience needed to deal with unexpected expenditures and therefore run the risk of falling into uncontrollable debt. Not only that, the Financial Capability Survey showed that one in five adults cannot read a bank statement, one in three cannot calculate the impact of a 2% annual interest rate on £100 of savings and 19 million don’t have an approach to budgeting that they feel works. Continue reading »

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Jun 07

Dallas Fed Tumbles (Again) – 17th Consecutive Month Of Contraction:

This is the 17th month in a row of contraction for Dallas Fed’s manufacturing survey as the headline print plunged to -20.8 from -13.9 (missing expectations of a hopeful bounce to -8.0 by 6 standard deviations). Despite the unequivocally good rebound in oil prices, sentiment in Dallas remains dismal with new orders crashing as even ‘hope’ has now given way to realism as the 6-month outlook tumbles back into negative territory.

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Jun 06

Venezuelan Woman Shot In The Face After 500 Looters Storm Food Warehouse:

Several weeks ago, when we showed dramatic scenes from a Venezuela looting in which countless people were wounded after 5,000 looters stormed a supermarket, looking for food…

… we said that at this rate it is only a matter of time before we get the first casualty of Venezuela’s “social apocalypse.” Continue reading »

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Jun 06

YOU ARE HERE

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Jun 05

Worst Jobs Report In Nearly 6 Years – 102 Million Working Age Americans Do Not Have Jobs:

This is exactly what we have been expecting to happen.  On Friday, the Bureau of Labor Statistics announced that the U.S. economy only added 38,000 jobs in May.  This was way below the 158,000 jobs that analysts were projecting, and it is also way below what is needed just to keep up with population growth.  In addition, the number of jobs created in April was revised down by 37,000 and the number of jobs created in March was revised down by 22,000.  This was the worst jobs report in almost six years, and the consensus on Wall Street is that it was an unmitigated disaster. Continue reading »

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