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Latest Articles: Business/Finance
Turning A Corner: The U.S. Economy Will Soon Officially Re-Enter The “Super Recession”
Post Date: 2015-06-06 12:15:17 by BTP Holdings
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Turning A Corner: The U.S. Economy Will Soon Officially Re-Enter The “Super Recession” Posted by David Morgan on April 11, 2015 · Leave a Comment First quarter economic contraction is all but a guarantee. Over 7 years after the “super recession” started, the economy will almost assuredly enter an “Official Recession” that began in January. The economic data, which is heavily manipulated by the government to such a degree that it has shown the U.S. recovered from the “super recession” of 08’, is beyond ridiculous. A long book could be written on this topic, both how GDP is calculated as well as the C.P.I (nominal GDP growth – C.P.I ...
Memo To The Fed And Jon Hilsenrath: We're Not Here To Enrich Your Corporate Cronies
Post Date: 2015-06-06 00:33:48 by HAPPY2BME-4UM
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Submitted by Charles Hugh-Smith from the OfTwoMinds blog, Memo to the Fed: you are the enemy of the middle class, capitalism and the nation. The Federal Reserve is appalled that we're not spending enough to further inflate the value of its corporate and banking cronies. In the Fed's eyes, your reason for being is to channel whatever income you have to the Fed's private-sector cronies--banks and corporations.If you're being "stingy" and actually conserving some of your income for savings and investment, you are Public Enemy #1 to the Fed. Your financial security is nothing compared to the need of banks and corporations to earn even more obscene ...
TPP emails show CEO joked about making “royalty payment” to US Officials
Post Date: 2015-06-06 00:30:45 by HAPPY2BME-4UM
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“These are our rules,” bragged Chemical company boss By Paul Joseph Watson | InfowarsEmails released under a Freedom of Information Act request show how one chemical company CEO was so pleased with the rules being set by the Trans Pacific Partnership (TPP) trade deal that he joked about making a “royalty payment” to U.S. government officials before bragging, “these rules are our rules.”400 pages of confidential emails between industry advisors and USTR officials were obtained by Intellectual Property Watch. The USTR (Office of the United States Trade Representative), is the U.S. government agency responsible for developing the United States’ trade ...
World's largest hospital criticized for pursuing money
Post Date: 2015-06-05 23:56:11 by Tatarewicz
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Want... The First Affiliated Hospital of Zhengzhou University in central China's Henan province, reputed to be the largest hospital in the world with 7,000 beds, has caused controversy with its rapid revenue growth, China Economic Weekly reports. The hospital recently posted annual revenue of 7.52 billion yuan (US$1.21 billion) in 2014, a sharp increase from 680 million yuan (US$109.7 million) in 2008 and 6 billion yuan (US$968 million) in 2013. This made it the province's top revenue-producing hospital, compared with the second biggest revenue generator — Henan Provincial People's Hospital — which posted 4.58 billion yuan (US$739 million) in annual revenue in 2014. ...
U.S. 1st quarter productivity plunged 3.1%, while unit labor costs surged 6.7%. As corporate profits collapse expect layoffs to ensue.
Post Date: 2015-06-05 18:22:03 by Horse
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U.S. worker productivity fell in the opening months of 2015, underscoring an economic soft patch marked by weak business investment and tepid wage gains. The productivity of nonfarm workers, measured as the output of goods and services per hour worked, decreased at a 3.1% seasonally adjusted annual rate in the first quarter, the Labor Department said Thursday. That was revised down from an initial estimate of a 1.9% slide. Economists surveyed by The Wall Street Journal had forecast a 3% decline for the first quarter. Productivity dropped in the first quarter as output decreased at a 1.6% pace and hours worked rose at a 1.6% rate. A gauge of compensation costs, unit labor costs, ...
Fed Unable To Comply With Congressional Subpoena Due To Criminal Probe
Post Date: 2015-06-05 15:22:16 by HAPPY2BME-4UM
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On October 3, 2012, consulting firm Medley Global Advisors sent a newsletter to clients entitled “Fed: December Bound.” The "special report" essentially constituted an early leak of the minutes from the FOMC's September meeting, at which the central bank launched the third installment of QE. An internal investigation by then-Chairman Bernanke revealed that indeed, some members of the committee had met with the firm that year but the names were not disclosed.On April 15, Congress sent Yellen a letter requesting that the Fed furnish a list of names no later than April 22. That deadline came and went with no response. On May 4, the Fed acknowledged ...
Treason Of The Highest Order, Trade Deal Details Classified For 5 Years After Implemented
Post Date: 2015-06-05 08:24:13 by HAPPY2BME-4UM
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Treason Of The Highest Order, Trade Deal Details Classified For 5 Years After Implemented As the walls of secrecy surrounding the TPP, The TTIP, and the TiSA trade and subversion pacts start to crumble, the insidious nature of their content and construction leaks out as well. Common sense and experience tells us that politicians who were doing something to benefit the people would be planted in front television cameras, touting their actions at every opportunity. The silence on the deal itself and most of the members of Congress’ refusal to admit to having read the document indicate that they know it’s a bad deal, are in on the scam and want plausible deniability in the future. ...
Wikileaks Reveals Full Text Of Trans-Pacific Partnership
Post Date: 2015-06-04 21:21:08 by HAPPY2BME-4UM
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Wikileaks Reveals Full Text Of Trans-Pacific Partnership Submitted by Tyler Durden on 06/04/2015 20:54 -0400 Finally "America's biggest secret" has been revealed and now the full, formerly confidential text of the Trans-Pacific Partnership, aka Obamatrade, has been made public. You just have to be quick. Average: 4.2Your rating: None Average: 4.2 (5 votes)Poster Comment:Don't blame me if you CAN'T READ IT!
"Where's My Raise?": American Workers Suddenly Realize "Recovery" Isn't Real
Post Date: 2015-06-04 20:58:46 by Southern Style
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"Where's My Raise?": American Workers Suddenly Realize "Recovery" Isn't Real Submitted by Tyler Durden on 06/04/2015 17:00 -0400 In March, we solved the mystery of America’s missing wage growth. Here is the conundrum facing PhD economists: One of the biggest conundrums, one that has profound monetary policy implications, and that has been stumping the Fed for the past year is how can it be possible that with 5.5% unemployment there is virtually no wage growth. The mystery only deepens when the Fed listens to so-called economist experts who tell it wage growth is imminent, if not here already, and it is merely not being captured by the various data ...
Our (Not So) Safe Deposit Boxes--Will Texans Ride to the Rescue?
Post Date: 2015-06-04 18:11:12 by Ada
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As I reported recently, banks are beginning to collaborate in the campaign by governments to stamp out the use of cash among the public. Chase, for example, rolled out a new program in several markets in March that restricts borrowers from using cash for making payments on credit cards, equity lines, mortgages and auto loans. Even more troubling is Chases’ revised policy governing the use of its safe deposit boxes. In a letter dated April 1, Chase informed its customers of the new policy, which included the following provision: “You agree not to store any cash or coins other than those found to have a collectible value.” Jeff Thomas provides a provocative and worrisome ...
Wondering Why You’re Not Getting Paid More? Here Are the Reasons …
Post Date: 2015-06-04 18:00:50 by BTP Holdings
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Wondering Why You’re Not Getting Paid More? Here Are the Reasons … Mike Larson | Thursday, June 4, 2015 at 4:30 pm Why aren’t I making more money? It’s a question you’ve probably asked yourself, and it’s more important now than ever before. After all, home prices are rising. Health-care costs are soaring. And everything from college costs to groceries seems to get more expensive every year. We’ll get fresh data on wages and job growth tomorrow morning, when the Labor Department releases its latest monthly report for May. In the meantime, the Wall Street Journal tried to answer the big-picture wage question by doing a deep dive into the data. It ...
The Real Reason The US Economy Simply Won't Grow: Lowest Worker Productivity In 22 Years
Post Date: 2015-06-04 12:16:13 by HAPPY2BME-4UM
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The Real Reason The US Economy Simply Won't Grow: Lowest Worker Productivity In 22 Years Just under two years ago, when Bank of America's economic team still produced meaningful commentary instead of blaming the growth slowdown on the snow (especially after it said not to blame the growth slowdown on the snow), it pointed out that the real reason the US recovery was aging (this was in the summer of 2013) was the tumble in worked productivity. This is what BofA said then: "what we show below is that, outside of the tech boom in the late 1990s, productivity tends to slow as business expansions mature. Our current 'expansion' is now thoroughly mature." This ...
Venezuela Plans to Double Oil Production
Post Date: 2015-06-04 07:33:51 by Stephen Lendman
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Venezuela Plans to Double Oil Production by Stephen Lendman Venezuela has the world's largest proved oil reserves - and vast amounts more not officially recognized, mainly its Orinoco basin heavy oil. It's why Washington wants regime change. It wants control over its vast treasure. It wants Venezuelans denied the vital benefits oil revenues provide. In late May, Telesur reported on Venezuelan oil production "set to boom due to a massive ($14 billion) deal struck with Russia's Rosneft" - its leading extraction and refinement company. It mostly involves Orinoco basin development in Venezuela's northeast believed to hold around 235 billion barrels of recoverable ...
Chinese banks to issue certificates of deposit
Post Date: 2015-06-03 06:12:54 by Tatarewicz
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BEIJING, June 2 (Xinhua) -- The central bank issued a provisional regulation on Tuesday that allows financial institutions to issue certificates of deposit, giving banks more freedom over pricing interest rates. A certificate of deposit is a time deposit that entitles the holder to receive interest at a higher rate than ordinary deposits, thus, are more appealing to savers. From Tuesday, individual investors can buy certificates of deposit worth at least 300,000 yuan (about 48,860 U.S. dollars) and institutional investors at least 10 million yuan. Interest on the certificates will be mainly determined by the market. Banks and investors can set a fixed or a floating rate, using the ...
6 Toxic Chinese Products Found in the US | China Uncensored
Post Date: 2015-06-02 21:53:22 by HAPPY2BME-4UM
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Published on Jun 2, 2015 The United States is being flooded with potentially dangerous, toxic imports from China. Between 2006 and 2010, the FDA blocked 9,000 unsafe Chinese products from entering American borders. But the FDA also inspects less than 1% of all goods seeking entry into the US. So how much is getting through? From tainted milk to toxic pet food, the answer is costing American lives. Think twice about made in China.
Next up for Wal-Mart pay raises: department managers
Post Date: 2015-06-02 21:42:45 by HAPPY2BME-4UM
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Wal-Mart, which is based in Bentonville, Arkansas, also said late Monday that those workers in specialized areas like the deli sections or the wireless areas will earn a wage range of $9.90 to $18.81 per hour. Previously, they started at around $9.20 and topped out at $18.53. Posted: Tuesday, June 2, 2015 8:43 am | Updated: 9:00 am, Tue Jun 2, 2015. Associated Press NEW YORK (AP) — Wal-Mart is raising starting wages for more than 100,000 U.S. department managers and workers in its deli and other specialized departments. The moves mark the next wave of pay raises by the nation's largest private employer, which has been under pressure from labor-backed groups for the treatment of ...
The $934 Billion Auto Loan Bubble - Subprime lending tactics in auto loans mimic the mortgage crisis [Full Thread]
Post Date: 2015-06-02 09:27:30 by Jethro Tull
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The last major debt bubble, courtesy of subprime mortgages, wreaked absolute havoc on the U.S. and global economies when it flamboyantly burst in 2008. Auto Cars Transportation 150x150 The $934 Billion Auto Loan Bubble: 5 Stocks to Sell NowSeven years later, a new bubble threatens our economy: the $934 billion auto loan bubble. Motor vehicle loans rose for the 14th straight quarter in Q4 2014, increasing by $29 billion from the quarter before and reaching a new record high. Increasingly, people are defaulting on these loans: 3.5% of auto loans are in the 90+ day delinquency period, a sharp uptick from 3.1% in the third quarter. Poster Comment:I'm watching the Regime's mouthpieces ...
Iran steps up wind power generation
Post Date: 2015-06-02 07:07:53 by Tatarewicz
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PressTV... The Renewable Energy Organization of Iran (SUNA) will buy 80 wind turbines this year for power generation, SUNA’s Iraj Hersini says. The southeastern Sistan-Baluchestan province is the primary candidate site, with other places also being considered as likely locations for establishing a wind farm, he said. “Iran, due to its excellent geographical position, can benefit enormously from wind energy as a reliable source,” he said. Tapping wind energy would help Iran cut use of fossil fuels because most of the country’s power generation plants are operated by gas and oil products, he said. Moreover, the use of wind turbines is strategically important in ...
Europe’s six largest energy companies have urged governments to tax carbon emissions ahead of UN climate talks for later this year.
Post Date: 2015-06-02 06:59:45 by Tatarewicz
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In a letter published in the Financial Times on Monday the chief executives of Shell, BP, BG Group, Eni, Statoil and Total called for “widespread and effective” carbon pricing to be part of a climate deal that may be negotiated in Paris. The joint statement marks a rare moment for an industry that’s often seen as in denial about climate change - but also an awareness that government regulation to change energy pricing could lead to new and profitable opportunities. Recommended: Climate change: Is your opinion informed by science? Take our quiz! “We owe it to future generations to seek realistic, workable solutions to the challenge of providing more energy while ...
Huobi emerges as leading bitcoin platform in China
Post Date: 2015-06-02 00:41:53 by Tatarewicz
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Want... China's Huobi has become the country's largest bitcoin trading platform by creating a good user experience, despite the collapse of the virtual currency's value, reports CBNweekly, a magazine published by Shanghai's China Business News. Bitcoin has seen its value drop from a high of 8,000 yuan (US$1,290) to the recent level of 1,400 yuan (US$226), but an encouraging sign is that more businesses have begun accepting the currency, said the report. In April, online payment service PayPal announced that its member merchants can begin accepting bitcoin. The New York Stock Exchange launched a bitcoin index on May 19, said the report. A Goldman Sachs report in March said ...
Rule By The Corporations
Post Date: 2015-06-01 16:37:33 by Ada
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TTIP: The Corporate Empowerment Act The Transatlantic and Transpacific Trade and Investment Partnerships have nothing to do with free trade. “Free trade” is used as a disguise to hide the power these agreements give to corporations to use law suits to overturn sovereign laws of nations that regulate pollution, food safety, GMOs, and minimum wages. The first thing to understand is that these so-called “partnerships” are not laws written by Congress. The US Constitution gives Congress the authority to legislate, but these laws are being written without the participation of Congress. The laws are being written by corporations solely in the interest of their power and ...
Greece Defies Washington: To Join Russia's Turkish Stream Pipeline Project
Post Date: 2015-06-01 14:15:59 by Stephen Lendman
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Greece Defies Washington: To Join Russia's Turkish Stream Pipeline Project by Stephen Lendman Plans call for it to supply natural gas from Russia through Turkey, Greece, Macedonia, Serbia and Hungary - bypassing Ukraine. Moscow's original South Stream project was scheduled to transit through Bulgaria. US-manipulated destabilization blocked it. Washington tried the same stunt in Macedonia - attempted color revolution destabilization to replace its government with one it favors - so far with no success. It pressured Greece to stick with a Western-backed Trans-Adriatic Pipeline (TAP) instead of Turkish Stream. State Department Special Envoy and Coordinator for International ...
Switzerland To Establish The First Bitcoin Bank
Post Date: 2015-06-01 02:43:03 by Tatarewicz
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CoinBuzz... If you are still skeptical about the way Bitcoin works, perhaps this would be the time to get to know everything that there is to know about Bitcoin. In recent news, a team of eight members is all set to open up a Bitcoin bank in Switzerland. A Bitcoin bank, where all the usual banking facilities would be available, just without the paper currency. The Bitcoin bank aims to impart various services such such as loans, storage, transacting with the ‘international, digital, government-free currency’ that Bitcoin is. The team is currently looking for premises for the bank and is all set to apply for an official license in a few weeks. The team comprises of both IT ...
Rostec Talks on Plane Construction With Canada’s Bombardier Halted
Post Date: 2015-06-01 01:16:21 by Tatarewicz
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Sputnik... MOSCOW (Sputnik) – Chemezov told Vedomosti that the political situation had nothing to do with the halt of talks with Bombardier. "We stopped talks with Bombardier that we wanted to collaborate with in building the planes in Russia," Chemezov said, explaining that the component parts needed for the construction of Q400 planes are imported from abroad and are currently too expensive because of the ruble exchange rate. "[As a result] the machines would not be able to withstand cost competition with the Russian aircraft," the Rostec CEO said. The Russian economy has come under increased pressure over the past year due to plummeting oil prices and Western ...
Why are China's nuclear power firms going public?
Post Date: 2015-05-31 22:50:31 by Tatarewicz
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Want... After China General Nuclear Power went public in Hong Kong last year, China National Nuclear Corporation will list on the Shanghai stock exchange on June 2. The moves show that the two largest nuclear power enterprises in China have both made inroads into the capital market, according to the Economic Observer Network. Moreover, China Nuclear Engineering Group has disclosed that its core business of nuclear power engineering construction is also preparing to go public. In addition, once China Power Investment and State Nuclear Power Technology complete their integration and reorganization, the unified company is expected to begin offering stocks of its nuclear power business. Some ...
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