ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Apr 16 12:19

Bankruptcies Suddenly Soar Across Corporate America, Worst First Quarter Since 2009

“Come down to Houston,” William Snyder, leader of the Deloitte Corporate Restructuring Group, told Reuters. “You’ll see there is just a stream of consultants and bankruptcy attorneys running around this town.”

But it’s not just in Houston or in the oil patch. It’s in retail, healthcare, mining, finance…. Bankruptcies are suddenly booming, after years of drought.

Apr 16 12:16

AGENCY OVERSEEING OBAMA TRADE DEALS FILLED WITH FORMER TRADE LOBBYISTS

The Office of the United States Trade Representative, the agency responsible for negotiating two massive upcoming trade deals, is being led by former lobbyists for corporations that stand to benefit from the deals, according to disclosure forms obtained by The Intercept. The Trans-Pacific Partnership (TPP) is a proposed free trade accord between the U.S. and 11 Pacific Rim countries; the Transatlantic Trade and Investment Partnership (TTIP) is a similar agreement between the U.S. and the E.U.

Apr 16 12:05

World Bank breaks its own rules as 3.4 million people are forced off their land

The World Bank has repeatedly violated its own policies on protecting the rights of indigenous people by funding projects that forced nearly 3.4 million slum-dwellers, farmers and villagers from their homes and jobs over the past decade, according to documents seen by the Guardian.

Apr 16 10:34

Citigroup's Gold "Expert" Demands A Cash Ban

Apr 16 09:54

Tampering with Smart Meters on the Smart Grid

Catherine J. Frompovich
Activist Post

There have been a lot of theories about what could happen when Smart Meters (SMs) are tampered with and customers receive “false-reading, tampered-with” utility bills—water, gas, or electric—when hackers access the porous microwave networks that transmit in-the-house information that electric SMs constantly collect, then radio-transmit via microwaves back to utilities home offices.

That’s not some “pie-in-the-sky” theory; it’s of great concern to security experts...

Apr 16 09:49

‘Bankruptcy closer every day, and you believe statistics?’

An expat Englishman, who runs a farm not far from Moscow, has grilled the Russian president and asked where Putin gets his statistics.

Apr 16 09:39

Texas Woman Invokes 'Religious Freedom' Argument to Fight $2000 Fine for Feeding the Homeless

“One of the police officers said, ‘Ma’am, if you want to pray, go to church.’”

Apr 16 09:33

Demonstrators rally at USC to raise minimum wage

Hundreds of Los Angeles workers and community members gathered Wednesday in the neighborhood surrounding the University Park campus to rally for an increase in the minimum wage from $9 to $15.25 with enforcement provisions and paid sick leave.

Part of a national effort, the demonstration, organized by the coalition Raise the Wage LA, was called “Fight for $15 on 4/15” and began in downtown Los Angeles early Wednesday morning.

Apr 16 09:11

3 Easy Ways to Avoid Taxes

Apr 16 09:00

Mandatory Vaccines: SB277 CONTROVERSIAL COMMITTEE CHAIR STEALS VICTORY FROM CA PARENTS

Following hours of hearing several hundred parents voice their opposition to the controversial SB277, the bill that would remove the personal and religious exemptions and would require mandatory vaccines for children attending public or private schools, was going to fail the Senate Committee Hearing. The State Capitol was flooded with a line of parents that filled the halls and extended out the building doors and into the grounds surrounding the building. One by one people filed in and gave their name, city of residence, and stated their opposition to the proposed bill. The Senate Education Committee held it’s hearing concerning the portion of the bill that would exclude children whose parents have chosen not to vaccinate them from schooling.

Apr 16 08:46

Ruble passes 50 against USD for 1st time since November

The Russian currency’s upward trend has achieved a psychological victory Wednesday as the ruble traded at 49.90 against the US dollar on the Moscow exchange.

Apr 16 08:34

I-Team: Walmart stores that were suddenly closed for plumbing issues haven't sought permits

Employees of a Walmart in Brandon that abruptly closed Monday were among more than 2,000 employees nationwide who learned almost simultaneously they were being laid off.

In a nearly identical manner at every store, Walmart corporate officials visited the five locations, called an impromptu meeting in the back of the store and told employees that the stores would be closing that evening.

Webmaster's Commentary: 

I think Walmart is trying to save face having to close stores so soon after they made a bid deal about raising the wages of their workers.

Apr 16 08:24

Citigroup Shuffles Management Ranks: Is a Guilty Plea Coming?

Media rumors have been rife since February that the U.S. Justice Department is edging closer to forcing a Citigroup banking unit to plead guilty to criminal charges of rigging foreign currency markets. On Monday, the umpteenth iteration of the infamous Citigroup Shuffle was announced, where the top ranks of management are shuffled about in preparation for charges of major wrongdoing by the bank.

The Citigroup Shuffle has produced four CEOs over the past 12 years (Sanford Weill, Chuck Prince, Vikram Pandit, and the current CEO, Michael Corbat). The Chief Financial Officer (CFO) position changed three times in four months during 2009, moving from Gary Crittenden, to Edward “Ned” Kelly, to John Gerspach, the current CFO. Crittenden was later charged by the SEC with lying about Citigroup’s exposure to subprime debt, stating publicly that it was $13 billion when in fact it was over $50 billion at the time. Crittenden paid a $100,000 fine to the SEC without admitting the findings.

Apr 16 08:22

Oil Layoffs Hit 100,000 and Counting

Apr 16 08:20

Our Nation Depends on Restoring Product Liability

At the height of its power, ancient Rome created many new technologies which allowed it to become the supreme power over their portion of the world. These accomplishments included the invention of concrete, improved metallurgy, medicine, hygiene, plumbing, and sewage. As each of these were developed, Rome came to be dependent on them. As Rome went into decline, their ability to maintain their technologies started to fade. Aqueducts stopped delivering water. Public health failed. Metal rusted. Concrete cracked. Eventually the failure of those systems on which Rome was dependent hastened its eventual fall.

Optional Banner: 
WRH Exclusive
Apr 16 08:07

One Last Look At The Real Economy Before It Implodes - Part 5

Brandon Smith
Activist Post

Since I began writing analysis for the liberty movement more than eight years ago, I have always said that we will know when the endgame of the globalists is upon us when the criminals come out into the light of day and admit to their crimes. At that moment, it will be because they no longer fear either the repercussions or their plans being obstructed.

As I plan to show in this installment of my series on the hidden fiscal collapse of America, the endgame has indeed arrived. At the very least, the international elites seem to think success is within their grasp, for they now openly expose their own criminality. But they do so in a way that attempts to divert blame or to rationalize their actions as being for the “greater good.”...

Apr 16 08:06

Washington's Mistral fiat flattens French arms industry; Sukhoi flies high

Another coup for Putin. Everything DC touches turns to crap!

India has essentially annulled it gigantic arms contract with France for the purchase and combined construction of 126 Rafale fighter planes; the Indian Prime Minister agreed to buy only
36 of them during his visit to Paris last week, a responsible government source stated. Instead, India will buy 127 fifth generation Russian fighter jets.

It is part of the direct fall-out from the socialist French governments anti-Russian policy, aligned with Washington. Obedient to the US, the Le Drian/Hollande tandem chose not to turn over the Mistral ships to Russia.

Apr 16 07:52

Store Closings Index 2015 of Largest US Brick-and-Mortar Retail Chains

Gap, Coach, JCPenney, Kmart, All 2015 Store Closings Sorted by Company

Apr 16 07:40

Obama calls for end to anti-Semitism

Obama calls for end to anti-Semitism in Holocaust Remembrance Day statement

(*Talk about your complete political 'Flip-Flop' !
I should have Bet Money that he wouldn't stand by The Iran Nuclear Deal)

Apr 16 07:00

‘End ECB dick-tatorship!’ Protester attacks Draghi during keynote speech

A protester, associated with the FEMEN movement, interrupted a televised speech by European Central Bank president Mario Draghi, when she jumped onto the table and showered him with confetti, while shouting “End ECB dictatorship!”

21-year-old Josephine Witt, who was also wearing a t-shirt with the punning slogan "End ECB dick-tatorship" also left several fliers with a oblique small-print rant against the financial body which regulates the Eurozone monetary policy.

Apr 16 06:57

German Yields Tumble Toward Zero Amid ECB Stimulus, Greece Jitters

“Draghi pledged to continue to metaphorically stand on the roof of the ECB building and shower euro bank notes down upon passersby.”

(*Oh Christ!)

Apr 16 06:44

Justice Prevails in New Mexico! Gov. Signs Bill Abolishing the Ability of Cops to Steal From Citizens

Finally, a victory!

On Friday, New Mexico Governor Susana Martinez signed the unanimous bipartisan legislation, H.B. 560, which effectively ends the practice of civil asset forfeiture in the state...

Apr 16 06:37

Ron Paul: Watch out. Dollar's in a 'huge bubble'

"There's a huge bubble with the dollar," Paul said on Tuesday's "Futures Now." The Dollar index, which measures the dollar against a basket of other major currencies, is near 12-year highs as the Fed has retreated from its stimulative programs at just the same time that other central banks have introduced their easing measures. But rather than take the rally as a sign that investors see strength in the U.S. economy, the outspoken former congressman sees the dollar's massive move higher as simply a byproduct of a world awash in easy money.

"It's not so much that the dollar is a great currency. It's the fact that nothing else is any better, said Paul. "The fundamentals are a disaster. The economy is in bad shape when you have more than half the people hardly making ends meet."

Apr 16 03:50

Former IMF Chief 'Under Investigation For Money Laundering'

Former chief of the International Monetary Fund, Rodrigo Rato, is under investigation for money laundering, government sources have told Spanish daily El Pais.
***
A judge is also holding him accountable for credit card abuse that took place at Caja Madrid and Bankia banks, where he was chairman.

In addition, he is under investigation for the way Bankia was floated on the Spanish stock market. Investigators believe this may have involved fraud and document forgery.

(*Quite the impressive resume . No wonder he made it all the way UP to IMF Chief ! )

Apr 16 03:21

Putin sees sanctions as stimulus for Russian economy

Russian President Vladimir Putin says his country can use Western sanctions to boost economic development by becoming more self-reliant.

Mr Putin said he had told business leaders that he did not expect EU-US sanctions - imposed over Russia's actions in Ukraine - to be lifted soon.

"We need to use the situation to reach a new level of development," he said.

(*"no,no, no, No, No, No, NO!"
whitehorse souce)

Apr 16 03:04

Stocks: 5 things to know before the open

Earnings season is in full swing and so far markets are taking it in their stride.

CNN: U.S. stock futures were flat in early trading while international markets were mixed.

Here are five things you need to know before the opening bell rings in New York:

1. Earnings and market movers: It's a big day for the financial sector, with Citigroup (C) and Goldman Sachs (GS) reporting ahead of the open. American Express (AXP) will report after the close.
***
2. Economic updates: The U.S. government will post weekly jobless claims at 8:30 a.m. ET. The Census Bureau will report monthly housing starts and building permits, also at 8:30 a.m. ET.

3. Oil moves: Crude is slipping back in electronic trading to just below $56 a barrel after hitting a 2015 high on Wednesday.
***
4. Leaders gather: The G20 finance ministers and central bank governors gather in Washington ahead of meetings of the World Bank and the IMF.
***
5. International markets overview: European markets were mainly weaker in early trading. But Unilever (UL) shares got a 4.4% boost in London after first quarter sales beat expectations.

Apr 16 00:55

Study: Over 27% of Student Loans Are in Default

Apr 15 17:55

Huge Trouble Is Percolating Just Under The Surface Of The Global Economy

Did you know that the number of publicly traded companies declaring bankruptcy has reached a five year high? And did you know that Chinese exports are absolutely collapsing and that Chinese economic growth in 2014 was the weakest in over 20 years?

Apr 15 17:39

Soros Declares Global Government “FAILING”

Apr 15 17:05

Mandarin for the Warlords: The Harvard School of Empire Building

What matters is that the US, while it is a declining world power, is still militarily powerful, dangerous and destructive, even as its empire building is weakening and its forces are in retreat. As Mahatma Gandhi once stated about the declining British Empire, ‘It’s the aging tiger that becomes the man eater’.

Apr 15 15:18

Why Is WalMart Mysteriously Shuttering Stores Nationwide For "Plumbing Issues"?

If that doesn’t turn out to be enough in the face of an economy which isn’t really recovering and in which low-income shoppers are constrained by lackluster (and by that we mean nonexistent) wage growth, some sacrifices may have to be made. The problem is that laying people off and shuttering stores two months after a celebrated wage hike initiative doesn’t inspire much confidence and could turn into a PR issue, but one thing you could do is get creative, and while we’re not plumbers, we do find it curious that five geographically distinct WalMart stores have been closed in the past week for “ongoing plumbing issues that will require extensive repairs.”

Apr 15 15:00

It’s Not The Weather: Industrial Production Is Rolling Over, Yet The Fed Is Clueless About Its Own Index

Another day of “incoming data” and still more evidence that this isn’t your father’s business cycle. This time it comes from the Eccles Building itself, but don’t expect the Keynesian money printers domiciled there to recognize that the industrial production report they issued today constitutes yet another rebuke to their entire macro model.

The March index slipped badly (0.6%) and thereby predictably elicited a “do not be troubled” assurance from the talking heads. It was just aberrant weather again. Well, that’s actually right. March was so much warmer than February that the utility component of the index plunged by 5.9%.

Indeed, as another branch of the Fed revealed a few days ago, March was actually warmer than normal for the month. Presumably this means the punk economic data for March can’t be explained by winterish weather—-since it is the very opposite condition which explains last month’s steep drop in utility production.

Apr 15 14:52

IRS Targets Farmer For Making Cash Deposits

Apr 15 14:12

Russia’s Lukoil reopens its office in Iran

"We look forward to participation in projects in Iran after the sanctions are fully removed", he said.
Maganov said that the Anaran project is Lukoil’s priority in Iran but the company is also interested in other projects.

Apr 15 14:06

Mergers & Acquisitions Go to Manic Levels

Apr 15 13:29

A New Housing Bubble About To Burst?

Apr 15 13:17

Greece in new downgrade by S&P for "unsustainable" commitments

Ratings agency S&P has downgraded Greece's credit rating again, saying it expects its debt and other financial commitments will be "unsustainable".

Apr 15 12:32

GERMLINE ENGINEERING COULD LEAD TO DESIGNER BABIES AND SUPERSTRENGTH

In the past month momentum has mounted around a technology called CRISP?R-Cas9, often described as a “search and replace” tool for DNA. The reason? It’s possible that scientists are now looking into using the revolutionary technique to permanently edit the genome of human eggs, sperm and embryos, a process called germline engineering.

Apr 15 10:37

Scurrilous Corporate Thieves Are Stealing Workers’ Comp

The infamous anti-labor bully, Wal-Mart, is among the leaders, but so are such prestigious chains as Macy’s and Nordstrom, along with Lowe’s, Kohl’s and Safeway. Their goal is to gut our nation’s workers compensation program, freeing corporate giants to injure or even kill employees in the workplace without having to cover all (or, in many cases, any) of the lost wages, medical care or burial expenses of those harmed.

Apr 15 10:28

FLASHBACK FEBRUARY - Concrete debris falls onto car from bridge as driver goes under it in Md.

The morning after concrete fell from a Prince George’s County bridge and struck a woman’s car, the incident drew commentary at a Capitol Hill hearing Wednesday.

“We are going to have to pay for our infrastructure [repairs] or you are going to have to face blocks of concrete falling on your head,” Rep. Donna Edwards (D-Md.) said at a hearing of the House Transportation Committee.

“I did acknowledge the incident in Maryland last night,” responded U.S. Transportation Secretary Anthony Foxx, who has appealed for $478 billion in additional transportation funding. “There’s no excuse for that in America.”

Webmaster's Commentary: 

Government is the most expensive thing you will buy in your life. Are you getting value for the money? To judge by these stories, we are not. Your money flows to Wall Street, the war machine, CIA torture dungeons, NSA spy shops, and of course Israel.

Apr 15 09:59

"Staggering" Student Loan Defaults On Deck: 27% Of Students Are A Month Behind On Their Payments

A new St. Louis Fed study finds that the delinquency rate for student borrowers in repayment is 27.3%, meaning nearly one in three of the Americans laboring under a debt load that has now swelled to $1.3 trillion are more than a month behind on their payments. Ackman says there's "no way they are going to pay it back." We can hear the "cancel the debt" cries now.

Apr 15 09:57

DAX Just Flash-Crashed, Drags US Stocks Lower

No apparent headlines as the European close looms and DAX Futures just plunged on heavy volume...

Apr 15 09:56

Russian Ruble Extends Outperformance - Surges To Strongest Since November

The Ruble is now up almost 22% against the US Dollar year-to-date.

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA