More than three million Germans can barely make ends meet despite being in work, according to a German newspaper. Growing numbers of struggling workers are cutting back on heating and food.
About 3.1 million wage and salary earners in Germany had an income below the poverty threshold, according to Saturday’s edition of the Saarbrücker Zeitung newspaper.
The paper cited an overview from Germany’s Federal Statistical Office showing the most recent available data, which covered the year 2013. It also showed the numbers of workers struggling to make ends meet jumped from about 2.5 million in 2008 – an increase of 25 percent in five years.Continue reading »
Three weeks ago, when looking at the latest NY Fed data of foreign gold held at the largest central bank gold vault in the world, we showed that in the month of November not only was a near record amount of gold withdrawn from the NY Fed, which at 42 tons was the single biggest monthly outflow at the NY Fed in over a decade…
… but that though the end of November, all of the Netherlands’ 122 tons of gold withdrawals had been fully accounted for. This brought up an interesting question: Continue reading »
Burnt and damaged files are seen in the courtyard of German regional newspaper Hamburger Morgenpost editorial office in Hamburg, northern Germany, on January 11, 2015 after an arson attack. (Bodo Marks / DPA / AFP )
A German newspaper, the Hamburger Morgenpost, that reprinted the Charlie Hebdo cartoons says it suffered an arson attack overnight.
The incident happened at about 2 am local time.Unidentified people threw stones and an incendiary devices into the building housing the “Hamburger Morgenpost” tabloid newspaper in Hamburg, Germany’s second largest city.
“Rocks and then a burning object were thrown through the window,” a police spokesman told AFP. “Two rooms on the lower floors were damaged but the fire was put out quickly.”
Nobody was hurt in the attack, police say.The newspaper said there were no people inside the building when the attack happened.
German Chancellor Angela Merkel (R) and Ukrainian Prime Minister Arseniy Yatsenyuk (L) give a joint press conference after their meeting at the Chancellery in Berlin on January 8, 2015.(AFP Photo / John Macdougall)
This week, Ukraine Prime Minister Arseniy Yatsenyuk said the USSR had invaded Germany and Ukraine in WW2. Despite attempts by the Western press to bury the story, Russia is now demanding answers from Berlin.
Nothing is louder than silence. I know this, you know this and you can be sure that Angela Merkel knows it too. Why then is the Chancellor’s government refusing to comment on Arseniy Yatsenyuk’s extraordinary remarks? The reasons are complex, as I will shortly outline. First, though, here’s what Yatsenyuk actually said.
“All of us still clearly remember the Soviet invasion of Ukraine and Germany,” he told German-state broadcaster ARD. “We need to avoid [a repeat of] it.”
“Nobody has the right to rewrite the results of the Second World War,” he also added. “Russia’s President Putin is trying to do exactly this.”Continue reading »
With just three weeks until the Greek snap elections on January 25 in which Tsipras’ Syriza is virtually assured of victory (unless somehow G-Pap’s “new and improved” political party manages to steal enough votes to prevent this, although one wonders what his political campaign will be: “vote for us because this time we know how to avoid a sovereign bankruptcy”), Germany takes yet another opportunity to remind the Greeks that it won’t be blackmailed (spoiler: it will) into another year of funding the insolvent Greek state which in turn will pretend to engage in another year of “reforms” (spoiler: it won’t). Recall it was on New Year’s Eve when Merkel’s chief advisor Michael Fuchs explicitly used the “blackmail” word saying: Continue reading »
This transcript of the interview with Jim Willie in early December 2014 highlights the importance of gold on the world stage, as well as other important events that are taking place.In the video interview titled, “No Prisoners in the Global Money War,” Willie says, “I think we have acceleration on the systemic breakdown globally. There is no asset foundation to the US banking system anymore. It’s just a bunch of ‘spinning derivatives on computer trades’. Continue reading »
Two weeks ago, as the S&P was preparing to surge on the latest round of all time high market-goosing algo trickery by the FOMC, 60 prominent German personalities from the realms of politics, economics, culture and the media were less concerned with blinking red and green stock quotes and were focused on something far more serious to the future of the world: the threat of war with Russia.
If President Obama won’t do it, someone else will. Thankfully, a human rights group in Berlin, The European Center for Constitutional and Human Rights, has begun the process of indicting members of the Bush Administration by filing criminal complaints against the architects of the Admin’s torture program.
Calls for an immediate investigation by the German human rights group was started after outrage ensued on the case of a German citizen, Khalid El-Masri, who had been captured by CIA agents in 2004 because of a mistaken identity mix-up and was tortured at a secret prison in Afghanistan.
Wolfgang Kaleck, the general secretary of the European Center for Constitutional and Human Rights, said: Continue reading »
The next time anyone is stupid enough to mention monetary policy “normalization”, either have them read this:
The Bank of Japan’s expansion of record stimulus today may see it buy every new bond the government issues.
The BOJ said it plans to buy 8 trillion to 12 trillion yen ($108 billion) of Japanese government bonds per month under stepped-up stimulus it announced today. That gives Governor Haruhiko Kuroda leeway to soak up the 10 trillion yen in new bonds that the Ministry of Finance sells in the market each month.
Translated: the BOJ will monetize 100% of all Japanese debt issuance (source).
… And this:
in Q1, we expect the ECB to announce a EUR500bn sovereign QE program and buy EMU government bonds according to each EMU country’s ECB capital key contribution. This implies that the ECB would purchase EUR130bn of German bonds, i.e., 90% of the 2015 gross issuance of German Bunds.
Translated: the ECB will monetize 90% of all German debt issuance (source).
In an attempt to try to divert a looming economic stagnation in the European Union, some leading German and French economists have launched some plans to try to revive (read: ‘resuscitate’) the economy of the Eurozone by tackling two issues which might have deteriorated the economic situation in the currency bloc.
Enderlein, an associate at a German school of Governance and Pisani, member of a French think thank have announced some ideas focusing on solving the issue of the rigid French labor market and the lack of government spending on infrastructure projects in Germany. This could be the perfect time to push some of these ideas through as the next elections in both countries are still 2.5 years away which means there’s plenty of time to implement new measures and restoring the popularity of the politicians before the next elections.
Germany’s plan to phase out nuclear energy and switch to renewables by 2022 is unrealistic as the country is doomed to remain dependent on fossil fuels like oil and gas for the next 70 years, energy expert Matthias Dornfeldt told RT.
Renewables can’t replace fossil fuels overnight because there’s not enough infrastructure, said Dornfeldt in an interview with RT. He believes the 21st century will be the century of gas, as the 20th century was the century of oil.
“We are going to be dependent on oil as well as on gas, as I see, for the next 50, 60, 70 years”, he said, adding there is “a huge impact of fossil fuels on the national economy in Germany.”Continue reading »
Wiesenhof, the largest German poultry producer, has announced that it will turn back to using GM-free animal feed due to consumer demand.
Wiesenhof’s U-turn comes just 10 months after the German Poultry Association (ZDG) unilaterally declared that it was stopping using GM-free animal feed, following similar moves by other associations in England and Denmark. The reasons provided for the step after over a decade of GMO-free feeding were an alleged shortage of GMO-free soya, the risk of contamination, and the associated legal uncertainty.Source: www.spiegel.de
Wiesenhof confirmed on Friday that they will soon be in a position to supply GM-Free fed poultry again, as this is what is “desired by customers”. Continue reading »
A group of prominent Germans are urging their country and the West to open dialogue with Russia. They believe this is essential to ensure peace in Europe, rather than further isolate Moscow, which they say would be “dangerous for the world.”
The petition named ‘New war in Europe? Not in our name!’ was signed by 60 people from Germany’s politics, economy, culture and media sectors – among them former Chancellor Gerhard Schroeder and film director Wim Wenders.
The group, led by former Chancellor advisor Horst Teltschik, former Defense Secretary Walter Stutzle and the former Vice President of the Bunderstag, Antje Vollmer, said that just because Russia and the West are experiencing differences at the moment, it “does not mean that the progress that we have achieved over the last 25 years with Russia should be terminated,” Telschik said. Continue reading »
A week ago, when we reported that in a stunning move, the “Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed“, and when looking at the NY Fed’s monthly reports of gold deposits by foreign entities, we observed that “we can see that while the 5 tons outflow in 2013 was most likely Germany, the recent surge in gold repatriation from Liberty 33 was the Netherlands. That said, only 77.5 tons of NY deposits gold has been officially repatriated through September, which means the October update, when it comes out, will be a doozy.” Yesterday, the long anticipated October update of “earmarked gold” held on deposit at the NY Fed was released, and sure enough it did not disappoint. Declining in dollar value from $8.305 billion to $8.248 billion, this was the equivalent of 42 tonnes of gold being withdrawn, in the process reducing net gold located in the vault of JPMorgan the NY Fed to 6,076 tonnes. The 42 tonnes withdrawal was also the biggest single monthly redemption from the NY Fed since 2001.
So with the 119 tonnes of gold withdrawn so far in 2014, it is now abundantly clear that the “logistical complications” excuse used by Germany to halt its own gold repatriation program was nothing but a lie to cover up what, as Deutsche Bank explained earlier this month, was an escalation of “diplomatic difficulties” between the US and Germany, one in which Germany has folded, if only for now.
Surrounded by radiation belts, Earth is being protected by an invisible shield that stops high-speed “killer electrons,” scientists have found after taking a closer look at the Van Allen belt 7,200 miles above our planet.
“Somewhat like the shields created by force fields on Star Trek that were used to repel alien weapons, we are seeing an invisible shield blocking these electrons,” the study’s lead author, Daniel Baker of the University of Colorado’s Laboratory for Atmospheric and Space Physics explained. “It’s an extremely puzzling phenomenon.”
This previously unknown phenomenon has been discovered by probes aimed at examining the so-called Van Allen belts, zones of donut-shaped rings around our planet.
Until March 2013, scientists assumed there were only two belts, filled with high-energy electrons and protons, surrounding Earth.
The Internal Revenue Service may have given thousands of confidential filings from private taxpayers to the White House to review, a lawsuit against the Treasury Department just revealed.
The suit, filed against Treasury’s inspector general by Cause of Action, a legal advocacy outfit, reveals a steady stream of communication went on between the White House and the IRS — a potentially “improper” stream, the group alleged, The Daily Caller reported.
Hacktivists aligned with the Anonymous movement have published credit card numbers and other personal information allegedly belonging to a leading Ku Klux Klan member amidst a grudge between the groups fueled by recent protests in Ferguson, Missouri.
Members of the loose-knit hacktivist collective have taken aim at the Klan in recent weeks after the KKK threatened to use lethal force against demonstrations descending on Ferguson to protest the August 9 killing of unarmed teenager Michael Brown by local police officer Darren Wilson. The feud between the groups has only escalated in the days since, though, and now Anons are circulating what they claim to be sensitive details about a powerful Klansman and his family.
Through a Twitter account formerly associated with the KKK but compromised by Anons earlier this month, hacktivists posted on Wednesday this week a trove of data purported to pertain to Frank Ancona, the self-described Imperial Wizard of the Missouri-based Traditionalist American Knights of the Ku Klux Klan.
Scores of Army National Guard and troops and police gang up to arrest protesters in street
(Video Source: DAHBOO7/YouTube)
FERGUSON, Mo. (INTELLIHUB.COM) — Youtuber DAHBOO7 managed to capture priceless video footage, on scene, as hundreds gathered on a city street, protesting the non-indictment of officer Darren Wilson, the cop who shot and killed 18-year-old Michael Brown.
“Oh crap, here they come”, DAHBOO7 said, referring to the military and police gathering in an adjacent parking lot.
“They thinks it’s a game”, yelled protesters loudly in the street.
“Who’s streets. Our streets”, they chanted. “Not the police streets”.
Then, about 4-minutes into the video, the protest suddenly takes a turn for the worst.
“Oh they’re chasing em’. Oh Shit!” DAHBOO7 says.
At this point, the military and police call out on a loud-speaker, “You are in violation of state law. […] You are subject to arrest.”, before charging peaceful protesters in two and three-man groups.
“On your knees. Let’s see your hands”, Guard members call out, detaining members of the public in a true ’1984′ fashion.
Soon dozens were arrested, tied, and carried off by both the police and Army National Guard troops.
Hundreds of people have gathered near the Scottish Parliament at Holyrood with St. Andrew’s Cross flags, music and speeches in a celebration of Scottish nationhood, amid continued demands for independence as St. Andrew’s Day celebrations got underway.
Poetry recitals, speeches and songs were on the agenda, as people wrapped themselves in flags and “Yes”-related paraphernalia. Even the blue Estelada could be seen among the crowds to show a degree of solidarity between various independence movements in Europe.
Even dinners will get more ‘romantic’ in the future …
SINGAPORE: Restaurant-goers in Singapore can expect to be served by autonomous flying robots – the world’s first commercial attempt – by the end of next year.
Infinium-Serve, the autonomous flying robotic waiters, will be first launched at one of Timbre Group’s five outlets in Singapore. Infinium Robotics CEO Woon Junyang estimated the project to cost a “low seven-figure sum” for the five outlets, subject to final negotiations and certain variables of the actual deployment of the robots.
Infinium Robotics signed a Memorandum of Understanding with Timbre Group on Oct 31. Both companies are seeking productivity-related government grants to help offset deployment costs.
A little over a year ago, we presented a “Yellow” asset, which was “the best performer of the past year.” It wasn’t gold: it was yellow cab medallions. As we wrote then, “the best returning asset class traded in the NY Metro area is yellow but doesn’t change hands on Wall Street…. over the last 12 months New York City taxi medallions have risen 49% in price, besting the relatively humdrum returns of the S&P 500 (up 21%), the NASDAQ (22%) and the Dow (18%). Medallions – essentially the right to operate a for-hail taxi in New York City – now trade for as much as $1.3 million, an all-time record.” In retrospect it was also the perfect time to cash out on the “yellow” euphoria. According to the NYT, “the average price of an individual New York City taxi medallion fell to $872,000 in October, down 17 percent from a peak reached in the spring of 2013, according to an analysis of sales data. Previous figures published by the city’s Taxi and Limousine Commission — showing flat prices — appear to have been incorrect, and the commission removed them from its website after an inquiry from The New York Times.”
Egypt’s former longtime ruler Hosni Mubarak was cleared of charges in a retrial Saturday and could soon be released — a stunning reversal for a man who faced life imprisonment or worse after a revolution toppled him in 2011.
A Cairo judge dismissed charges linking Mubarak to the deaths of hundreds of protesters during the 2011 revolt and found him not guilty of corruption.
Mubarak, who ruled Egypt as president for 29 years, was stoic as his supporters in the courtroom cheered the decision that capped a months-long retrial. The 86-year-old, reclining on a hospital gurney in a defendants’ cage, nodded while fellow defendants kissed him on the head.
Egyptian police in Cairo have used water cannon and tear gas against hundreds of demonstrators protesting against the acquittal of former president Hosni Mubarak by the local court.
According to Reuters, security officers also used birdshot to disperse the crowd.
RT’s Bel Trew reports from the Egyptian capital that live fire was allegedly applied by the police.
There are also unconfirmed reports that one person was killed in the clashes.
The police, who earlier promised to refrain from violence, released a statement saying that the use of force was justified, as members of the banned Muslim Brotherhood organization have infiltrated the ranks of the demonstrators.
Over the years, I’ve heard dozens and dozens of officers state that they will come to the people’s aid “when the time is right.” Until that unspecified time, the officers will just simply follow the orders of their betters. What exactly constitutes the right time?
Is it when departments are simply too busy to investigate thousands of rape cases?
Is it when the bodies of unarmed men, women, and children are piling up faster than we can report on all of them?
Is it when cops are arresting pastors and taking food from the mouths of the poor?
Is it when law enforcement opens fire on unarmed protesters?
Is it when it becomes common practice for officers to engage in blatantly unconstitutional activities?
Is it when officers enforce a soft form of martial law?
Is it when officers beat children in schools?
Is it when American citizens are getting locked up faster than people in Stalin’s Soviet Union?
Is it when every department in America is turned into a goon squad, even those at our children’s schools?
Health News Agency reports snow in 16 provinces, Western and Eastern Azerbaijan, Ardebil, Iran, Gilan, Lorestan, Iran, Bakhtiari, kohgiloyeh, Persian, Kurdish, Qazvin, Kermanshah, Kerman, and Zanjan, which has caused problems for people.
160 cars had been stuck in the snow, but were released by rescuers.
93/09/08 – 10:38 – I double checked the date on the Iranian calendar converter, the eight day of the ninth month (Azar) of 1393 is November, 29, 2014),” says Argiris. “Searching in Persian (Farsi) language, you find a lot of recent news articles about snowfall in Iran. But on the English language Iranian website http://www.presstv.ir/latest.html you can search for “snow”, only to find news about snowfall in the United States.”
A University of Windsor anti-cancer crusader may have discovered his most effective agent yet — a fruit that causes evil cells to commit suicide.
Dr. Siyaram Pandey, known for promising work on dandelion root extract, is thrilled with results from his initial research on long pepper fruit.
“It is very potent, which is surprising, actually,” said Pandey. “I wouldn’t be exaggerating to say it’s a little bit better than dandelion root extract.”
A compound from the long pepper fruit was first identified in the 1960s, but was then forgotten for decades until researchers at Howard University in Boston published a paper in 2011. The Bostonians screened 25,000 compounds for possible cancer-fighting properties and listed piper longum — or long pepper — at the top.
“America has no higher rate of social mobility than medieval England, Or pre-industrial Sweden,” he said. “That’s the most difficult part of talking about social mobility is because it is shattering people s dreams.”
“I, Darren Wilson, hereby resign my commission as a police officer with the City of Ferguson effective immediately. I have been told that my continued employment may put the residents and police officers of the City of Ferguson at risk, which is a circumstance that I cannot allow. For obvious reasons, I wanted to wait until the grand jury made their decision before I officially made my decision to resign. It was my hope to continue in police work, but the safety of other police officers and the community are of paramount importance to me. It is my hope that my resignation will allow the community to heal. I would like to thank all of my supporters and fellow officers throughout this process.”
One of the officers that killed James Boyd is retiring early with full benefits and gets to avoid the Internal Affairs investigation by doing so. The local media in Albuquerque is trying to downplay his retirement by running headlines that indicate the exact opposite of the truth.
Following heated debate, Prime Minister Benjamin Netanyahu’s cabinet has voted in favor of anchoring in law the status of Israel as “the national homeland of the Jewish people,” which critics fear would discriminate the Arab population.
According to the draft law, Israel’s Basic Laws would no longer define it as “Jewish and democratic” country, but as the Nation-State of the Jewish People.
15 Israeli ministers in the cabinet supported the ‘Jewish state bill,’ with only six, including Israeli Justice Minister, Tzipi Livni, saying ‘no’ to the initiative on Sunday.
The bill now has to be approved by the country’s parliament, Knesset, which is scheduled to vote on it on Wednesday.
Currently, the largest and most powerful helicopter to have ever entered production is the gargantuan Mi-26 ‘Halo’ of Russian origin, of which many still serve in governmental and commercial roles around the globe. After decades of the ‘Halo’ being on top, a new record holder is now said to be on the way, with Russia and China joining forces to make it happen.
The Environmental Protection Agency is a federal agency that is charged with the responsibility of writing and enforcing legislation to protect human health and the environment. Established under Nixon in 1970, the EPA is another one of those agencies that sounds like a good idea, until you peel off the shiny friendly top layer to discover the stench of corruption underneath. Up until now, they at least pretended to be there to serve as watchdogs, but it seems like they’ve decided to give up on that silly illusion.
The claim was as clear as it was chilling: behind the genteel façade of one of London’s most famous apartment blocks, children faced abuse on an industrial scale.
Every weekend, groups of vulnerable boys from local care homes were being smuggled to an address in Dolphin Square, Pimlico. There, after being plied with alcohol, they suffered sickening sexual assaults.
The paedophile ring orchestrating these crimes had, over time, come to believe it enjoyed immunity, a whistle-blower told police at the time.
After all, members were said to include a cross-section of Britain’s most influential politicians.
Japan Times, Nov 22, 2014 (emphasis added): Tepco fails to halt toxic water inflow at Fukushima… [TEPCO] admitted failure Friday in its bid to halt the flow of toxic water into underground tunnels alongside the ocean… Some 11,000 tons of highly radioactive water have accumulated in the tunnels… connected to the reactor 2 and 3 turbine buildings… according to Tepco. There are fears that this toxic buildup… could pour into the Pacific, which is already being polluted by other radioactive leaks… Friday, Tepco proposed a new technique for the tunnels: injection of a cement filler… some [highly radioactive water] would be left behind, endangering plant workers, Tepco acknowledged… [Gov’t experts] argued that Tepco should stick to the original plan and draw out all of the water. Others said giving up on it may hamper the construction of the ice wall.
In what could definitely be called a stunning move, the Netherlands has announced it has repatriated in excess of 120 tonnes of gold from the vaults of the Federal Reserve in New York to the Dutch Central Bank in Amsterdam. Officially a move made to rebalance the locations where the gold is being stored, one cannot ignore the fact that the Netherlands only repatriated a large part of the gold which was stored in New York and it did not touch the gold stored in Canada and London.
Additionally, it’s not just ‘some’ gold being brought back home, no, the total amount is 122.47 tonnes or almost 4 million ounces with a market value of $5B. This will reduce the exposure of the Dutch Central Bank to the US financial system as now just 31% of its gold is being stored in the vault of the Fed, coming down from 51%. We have the impression this won’t be the last repatriation as the Dutch Central Bank is keeping its shipping route secret ‘in case more gold needs to be repatriated’.
Sporadic confrontations and violence between protesters and police continued to occur overnight in Ferguson as multiple news agencies report grand jury considering whether to indict the Ferguson police officer who shot and killed teenager Michael Brown is unlikely to meet and render a decision this weekend. The fear, as we have previously noted, is a major uprising as one sign protested, “if the killer cop walks, AmeriKKKa Halts,” and as Fox reports, Brown family attorney is managing expectations, “99% of the time the police officer is not held accountable for killing a young black boy,” Crump said. “The police officer gets all the consideration.” There is, however, another potential reason for delaying the decision’s reporting, as VICE reports, business owners in the St. Louis, Missouri area have hired private military contractors to transport guns and gold, fearing their shops will be targeted by looters if a grand jury does not indict.
Ever since the ECB has introduced negative interest rates on its deposit facility, people have been waiting for commercial banks to react. After all, they are effectively losing money as a result of this bizarre directive, on excess reserves the accumulation of which they can do very little about.
However, there is an obvious flaw in taking such measures – at least is seems obvious to us. The Keynesian overlords at the central bank who came up with this idea have failed to consider a warning Ludwig von Mises once uttered about the attempt to abolish interest by decree.
Germany’s FM, Frank-Walter Steinmeier, has said he is against Ukraine joining NATO. In an interview with Der Spiegel, he said he considers “that it is possible for NATO to have a partnership with Ukraine, but not membership.” …
Police in Germany found a private nuclear-proof bunker made by a man who says he feared an attack from Russia. At least 140 different weapons were found in his “atomic safe” facility where he was planning to hide with his family.
The 59-year old electrician has been arrested on charges of storing illegal weapons and explosives which he hid in his self-made bunker near his house in Kelheim municipality in Bavaria, southeastern Germany,
All in all police confiscated 80 rifles, 60 handguns, two submachine guns, 20,000 rounds of ammunition and about 40 kilograms of substances for explosives production, said State Criminal Police Office (LKA)
The average UK household is just days away from an emergency situation in the event of sudden financial hardship, according to a new report to be released this week. Meanwhile, one food bank has reported a surge in new participants.
The consequences of severe economic fallout would present a real challenge for many people, considering that more than one-third of households (36 percent) in the UK have “no strategy in place to cope with financial hardship,” according to a report from Legal & General, citing data from the Centre for Economics and Business Research (CEBR).
British SAS troops have been conducting secret missions that have killed hundreds of Islamic State militants. Using quad bikes and 4×4’s in Iraq, they have been seeking out enemy forces usually at night, killing up to eight terrorists a day.
Michael Collins Piper on JFK and the Kosher Nostra
“This last 1900 point Dow Jones push upwards – and the Ebola events leading into it – it was so orchestrated and heightened at critical points but the ascent and push straight up in price, and sideways nonreaction after was completely unlike anything I’ve seen before. After going up for a record-breaking amount of time the last five or so years, in a nonlinear exponential mania type of ascent, there should normally be tremendous volatility that follows… After this year and especially this last 1900 point Dow run up in October, and post non-reaction, that I am 100 percent confident that that one buyer is our own Federal Reserve or other central banks with a goal to “stimulate” our economy by directly buying stock index futures.”
American Epidemic? NYPD cop shoots dead unarmed man ‘without warning':
The global financial system has come unglued. Everywhere the real world evidence points to cooling growth, faltering investment, slowing trade, vast excess industrial capacity, peak private debt, public fiscal exhaustion, currency wars, intensified politico-military conflict and an unprecedented disconnect between debt-saturated real economies and irrationally exuberant financial markets.
Yet overnight two central banks promised what amounts to more monetary heroin and, presto, the S&P 500 index jerked up to 2070. That is, the robo-traders inflated the PE multiple for S&P’s basket of US-based global companies to a nose bleed 20X their reported LTM earnings.
I’ve long written about how the percentage of sociopaths within a group of humans becomes increasingly concentrated the higher you climb within the positions of power in a society, with it being most chronic amongst those who crave political power (see: Humanity is Rising).
The security services are facing questions over the cover-up of a Westminster paedophile ring as it emerged that files relating to official requests for media blackouts in the early 1980s were destroyed.
Two newspaper executives have told the Observer that their publications were issued with D-notices – warnings not to publish intelligence that might damage national security – when they sought to report on allegations of a powerful group of men engaging in child sex abuse in 1984. One executive said he had been accosted in his office by 15 uniformed and two non-uniformed police over a dossier on Westminster paedophiles passed to him by the former Labour cabinet minister Barbara Castle.
Ah, national security. Remember that the next time you are lectured that we need to give up our civil liberties in the name of “national security.” Think about what that really means. It really means the security of the status quo to continue to behave like insane criminals with zero accountability.
It is unclear whether the person in charge of the Lois Lerner “disappeared IRS emails” strategy was also Dr. Gruber, but whoever conceived of the idiotic idea that the fatal failure of a local hard disk means that emails which are stored on at least one server miles away, and subsequently downloaded via POP3, IMAP or some other protocol, have vaporized, clearly also relied on the stupidity (and laziness) of the American people. And like in the case of Obamacare, the lies worked, if only for a short period of time. And because when it comes to lies coming from the very top, there is never just one cockroach, and they always inevitably scatter, the latest headache for a scandal-ridden president is that Lois Lerner’s email, supposedly gone in perpetuity, have mysteriously reappeared, and as the Washington Examiner reports, “up to 30,000 missing emails sent by former Internal Revenue Service official Lois Lerner have been recovered by the IRS inspector general, five months after they were deemed lost forever.”
In the wake of the failure of the U.S. Senate to move forward on the USA Freedom Act, many activists and civil liberties advocates have come to the conclusion that we can’t rely on the feds to do anything decent on the subject. One of the proposed grassroots ways to fight back has been an emphasis on increased use of encryption (recall my pre-Snowden era post, Bitcoin and Kim Dotcom: Why it’s Time to “Encrypt Everything”). Another obvious solution is for people to revolt at the local level. It appears that the citizens of Utah are doing just that.
I am a United Sates Army general, and I lost the Global War on Terrorism. It’s like Alcoholics Anonymous; step one is admitting you have a problem. Well, I have a problem. So do my peers. And thanks to our problem, now all of America has a problem, to wit: two lost campaigns and a war gone awry.
“The situation has become so bad… that a middle-aged investor, fearing that a local developer wouldn’t be able to make his promised interest payments, threatened to commit suicide in dramatic fashion last summer. After hearing similar stories of desperation, city officials reminded residents that it is illegal to jump off the tops of buildings.”
As The West shows its fortitude (and apparent philanthropy) with mere 32-degree Fahrenheit ice-bucket-challenges, Russian chemistry professor Yury Zhdanov goes 290-degrees better…
Nikolay Novosyolov, founder of a science popularization project, poured a bucket of liquid nitrogen, which temperature was minus 322 degrees Fahrenheit (minus 197 Celcuis), as part of the #IceBucketChallenge campaign, taking the world’s social media charity craze to a whole new level.
The ultimate goal of the anti-Russian sanctions imposed by some Western nations is to stir public protests and oust the government, Russian Foreign Minister Sergey Lavrov said.
“Western leaders publicly state that the sanctions must hurt [Russia’s] economy and stir up public protests. The West doesn’t want to change Russia’s policies. They want a regime change. Practically nobody denies that,” he told a leading think-tank in Moscow.
Lavrov said that the tensions between Russia and the West had been brewing for years before the Ukrainian crisis, adding that now the Europeans had decided to go for all-or-nothing and play chicken with Russia. But at least the positions have been made clear, Lavrov said.
German police used pepper spray and clashed with anti-EU protesters, who stormed and vandalized the new European Central Bank building, which is under construction now in central Frankfurt.
Calling themselves Blockupy, thousands of activists gathered in the city center on Saturday and marched to the goal of their protest, the new ECB office, which is to be inaugurated next March.
The cost of the new office is almost 1.3 billion euros and this fact has caused a lot of criticism while the policy of austerity is applied all over Europe.
“While our colleagues, friends and comrades in Southern Europe continue to rebel against the depletion and impoverishment policies of the Troika, the ECB moves into its new palace,” Blockupy website says. “Blockupy moves on to the road. We will make our own move to the new building and give back to the ECB the garbage – in and with many moving boxes – that should have been thrown into the dustbin of history: racist and sexist division, impoverishment, privatization of public funds and goods and wars to secure resources.”
The news this week of China’s largest corporate bankruptcy - Haixin Iron & Steel Group – amid crashing iron ore and steel prices was followed by analysts noting it “will be followed by others,” as the major flaw of producers of iron ore, the most traded commodity after oil, is they tend to be “over-bullish.” Distressed debt funds are starting to circle in preparation for what they expect to be a bloodbath as Bloomberg reports, bad debts in China are well underestimated because authorities persist in propping up weak companies and bailing out local investors, according to DAC Management, “we’ve yet to see it because if you look at corporate defaults, they keep getting covered by the government. At some point, they can’t cover every single one.” Most worryingly though, as KPMG points out, “when you see restructuring advisers getting hired by SOEs… you know it’s coming.”
Healthcare workers at Hope Assisted Living & Memory Care Center in Dacula, Georgia, whose identities have not been made known as of this writing, have informed Health Impact News that on November 7, 2014, five residents of the center received flu vaccinations, only to die one week later.
Once a market leader among Western 24-hour news channels, CNN has now become infamous for its slipshod mislabeling of maps across the world. This week the network hit a new low, transforming a synagogue into a mosque.
Are you in better shape financially than you were last Thanksgiving? If so, you should consider yourself to be very fortunate because most Americans are not. As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions of Americans that simply cannot afford to eat such a meal. According to a shocking new report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has reached a new all-time high of 2.5 million. And right now one out of every seven Americans rely on food banks to put food on the table. Yes, life is very good at the moment for Americans at the top end of the income spectrum. The stock market has been soaring and sales of homes worth at last a million dollars are up 16 percent so far this year. But most Americans live in a very different world. The percentage of Americans that are employed is about the same as it was during the depths of the last recession, the quality of our jobs continues to go down, the rate of homeownership in America has fallen for seven years in a row, and the cost of living is rising much faster than paychecks are. As a result, the middle class is smaller this Thanksgiving than it was last Thanksgiving, and most Americans have seen their standards of living go down over the past year.
In 2014, there are tens of millions of Americans that are anonymously leading lives of quiet desperation. They are desperately trying to hold on even though things just keep getting worse. For example, just consider the plight of 49-year-old Darrell Eberhardt. Once upon a time, his job in a Chevy factory paid him $18.50 an hour, but now he only makes $10.50 an hour and he knows that he probably would not be able to make as much in a new job if he decided to leave…