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Latest Articles: Business/Finance
The Real Crisis Is Not The Government Shutdown
Post Date: 2013-10-03 07:40:59 by Ada
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The inability of the media and politicians to focus on the real issues never ceases to amaze. The real crisis is not the “debt ceiling crisis.” The government shutdown is merely a result of the Republicans using the debt limit ceiling to attempt to block the implementation of Obamacare. If the shutdown persists and becomes a problem, Obama has enough power under the various “war on terror” rulings to declare a national emergency and raise the debt ceiling by executive order. An executive branch that has the power to inter citizens indefinitely and to murder them without due process of law, can certainly set aside a ceiling on debt that jeopardizes the government. The ...
Turkey 'highly likely' to sign Chinese missile deal: officia
Post Date: 2013-10-03 04:22:21 by Tatarewicz
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ANKARA (Reuters) - Turkey is highly likely to sign a deal to co-produce a missile defense system with a Chinese firm under U.S. sanctions after it placed the lowest bid of $3.44 billion in a tender, a senior defense ministry official said on Thursday. Murad Bayar, Undersecretary of Defense Industries at the Defense Ministry, told reporters in Ankara that Turkey could finalize the deal with China Precision Machinery Import and Export Corp (CPMIEC) within six months. The United States has expressed "serious concerns" over North Atlantic Treaty Organisation member Turkey cooperating with CPMIEC, under sanctions for violations of the Iran, North Korea and Syria Nonproliferation ...
China proposes establishing Asian infrastructure investment bank
Post Date: 2013-10-02 21:49:24 by Tatarewicz
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JAKARTA, Oct. 2 (Xinhua) -- Chinese President Xi Jinping on Wednesday proposed to establish an Asian infrastructure investment bank to promote interconnectivity and economic integration in the region. Xi put forward the proposal during talks here with his Indonesian counterpart, Susilo Bambang Yudhoyono. Beijing stands ready to offer financial support for infrastructure construction in developing countries in the region, including members of the Association of Southeast Asian Nations, Xi said. The new bank, he added, will cooperate with existing multilateral development banks to make full use of their respective advantages and jointly promote the sustained and stable growth of the Asian ...
Pakistan determined to finish IP gas pipeline: Sharif
Post Date: 2013-09-28 02:04:40 by Tatarewicz
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PressTV Pakistani Prime Minister Nawaz Sharif has stressed that the Islamabad government is determined to complete the construction of a multi-billion-dollar pipeline project carrying natural gas from Iran to its eastern neighbor. “Pakistan has signed an agreement with Iran on the gas pipeline in March this year. It was done by the previous government,” Sharif said in a Thursday interview with The Wall Street Journal on the sidelines of the 68th annual session of the United Nations General Assembly in New York. He went on to say that the ruling Pakistan Muslim League-Nawaz (PML-N) government needs to proceed with the gas pipeline project in order to relieve energy shortages in ...
Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe
Post Date: 2013-09-26 08:25:09 by Ada
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Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again. In fact, Cyprus-style wealth confiscation is already starting to happen all around the world. As you will read about below, private pension funds were just raided by the government in Poland, and a “bail-in” is being organized for one of the largest banks in Italy. Unfortunately, this is just the beginning. The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe. It is only a matter of time before we see this exact same type of thing happen in the ...
AIG CEO Compares Anger At Wall Street Bonuses To The Lynching Of Black People In The South
Post Date: 2013-09-24 16:23:09 by Horse
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Submitted by Michael Krieger of Liberty Blitzkrieg blog, I’m doing God’s work. - Goldman Sachs CEO Lloyd Blankfein in a November 2009 interview It’s war. It’s like when Hitler invaded Poland in 1939. - Steve Schwarzman, Chairman and co-founder of Blackstone, on potential tax changes in 2010 The uproar over bonuses was intended to stir public anger, to get everybody out there with their pitch forks and their hangman nooses, and all that–sort of like what we did in the Deep South. And I think it was just as bad and just as wrong. - AIG CEO Robert Benmosche in a Wall Street Journal Interview this past weekend As if you needed any more evidence of how ...
Bernie Madoff’s Ponzi Scheme Looks Like A Joke Compared To This (Federal Reserve)
Post Date: 2013-09-22 09:01:12 by X-15
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The “Bernie” Madoff name became famous while the stock market was falling during the credit and financial crisis. He was responsible for running one of the biggest Ponzi schemes in U.S. history—if I recall correctly, it was a $65.0-billion scheme. But as the scam got bigger, Madoff couldn’t go on. He was caught, prosecuted, and sentenced to more than 100 years in jail. What did we learn from the Madoff ordeal? At the very least, we learned Ponzi schemes eventually become impossible to hide, no matter how smart and cunning the perpetrator. Wednesday of this week, we learned that the Federal Reserve’s Ponzi scheme of printing paper money and giving it to the ...
Bernanke Stays the Course
Post Date: 2013-09-20 02:58:18 by Stephen Lendman
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Bernanke Stays the Course by Stephen Lendman Helicopter Ben surprised. Tapering was expected. Not now, he said. Reasons why include concern about economic strength. He's worried about how higher rates will impact global over-indebtedness. When tapering was announced weeks earlier, these and other uncertainties were known. Why change policy now? Doing so makes Bernanke look like a taper tiger. On January 31, his term expires. He's expected to step down. Perhaps he'll stay the course until he does so. The longer it remains unchanged, the greater the future mess. The Wall Street Journal headlined "Fed Stays the Course on Easy Money," saying: "Seeing a more ...
China opens first direct online bank
Post Date: 2013-09-19 20:00:08 by Tatarewicz
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BEIJING, Sept. 19 (Xinhua) -- The Bank of Beijing began China's first direct bank operation on Wednesday, a novel mode predicted to preponderate in the era of online banking. Cooperating with the Netherlands-based ING Group, the Bank of Beijing has initially launched direct bank services in cities of Beijing, Xi'an and Jinan, said Shi Zhan, a senior manager at the Bank of Beijing. A new mode that has proven popular in the European and U.S. markets, direct banking does not rely on entity outlets, instead offering financial products and services mainly via the Internet, telephones and ATMs. The direct banking services operated by the Bank of Beijing will mainly serve retail ...
Solar panels could destroy U.S. utilities, according to U.S. utilities
Post Date: 2013-09-18 21:38:27 by Tatarewicz
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Grist: Solar power and other distributed renewable energy technologies could lay waste to U.S. power utilities and burn the utility business model, which has remained virtually unchanged for a century, to the ground. That is not wild-eyed hippie talk. It is the assessment of the utilities themselves. Back in January, the Edison Electric Institute — the (typically stodgy and backward-looking) trade group of U.S. investor-owned utilities — released a report [PDF] that, as far as I can tell, went almost entirely without notice in the press. That’s a shame. It is one of the most prescient and brutally frank things I’ve ever read about the power sector. It is a rare thing ...
China Focus: China exploring ways to ease overcapacity
Post Date: 2013-09-18 19:31:23 by Tatarewicz
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BEIJING, Sept. 18 (Xinhua) -- China has this week ordered 58 companies, ranging from steel, coke and cement producers, to cut excess production capacity by the end of the year, in the latest attempt to ease overcapacity in bloated sectors. This is the third batch of enterprises required by the Ministry of Industry and Information Technology to cut overcapacity by the end of 2013, following more than 1,400 companies in July and another 67 earlier this month. The orders came as China struggles to digest production gluts from an investment boom and generous subsidies in the past few years that saw producers in "favored" sectors expand rapidly with little regard to real market ...
Janet Yellin Likely New Fed Chairwoman: Hold the Cheers
Post Date: 2013-09-18 14:58:46 by Stephen Lendman
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Janet Yellen Likely New Fed Chairwoman: Hold the Cheers by Stephen Lendman On January 31, current Fed chairman Bernanke's term ends. He's expected to step down. Larry Summers was favored to succeed him. If Yellen's chosen, she'll be the first woman to hold the post. Word was Obama intended to appoint Summers. Opposition sentiment forced his withdrawal. A previous article discussed his deplorable record. Greg Palast calls him the "Typhoid Mary of Economics." He's that and much more. Hold the cheers for Yellen. More on her below. Palast wrote about Summers years ago. He called him "a colony of aliens sent to Earth to turn humans into a cheap source of ...
The FED (Wed. 9/18)
Post Date: 2013-09-18 14:35:07 by Jethro Tull
7 Comments
Today, the FED kept QE in place, despite the conventional wisdom that the economy is on the mend and a tapering of government bond buying would begin. This means interest rates will remain artifically depressed, and the value of any company on the DOW is completely unknown related to a monthly injection of $85 billion dollars per month. The news caused gold and silver to pop, while the 10-year T-bill tumbled. What this means to me is that Obamanomics has been a massive FAIL and out debt and deficits will continue to grow until this Wall Street bubble bursts. Look out below.....
New Zealand oil prospects - Stock GumShoe
Post Date: 2013-09-17 07:09:43 by Tatarewicz
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“New Zealand’s Bakken!” Sniffing around Christian DeHaemer’s Oil Teaser What are the two companies pitched as having big New Zealand shale acreage? Posted on May 15, 2013 by Travis Johnson, Stock Gumshoe WP Greet Box icon X Welcome! If you are new to Stock Gumshoe, grab a free membership here and join us to get our free newsletter alerts with new teaser answers and debunkings. Thanks! The Bakken formation in North Dakota has made plenty of millionaires, not just among the ranchers who owned those cold and dusty acres in the decades before shale oil production became feasible, but for those who invested early in the companies that made the best discoveries or gobbled up ...
Britain asks U.S., EU to exempt BP from sanctions imposed on Iran
Post Date: 2013-09-17 03:26:53 by Tatarewicz
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The London government has asked the US and the European Union to partially lift anti-Iranian sanctions imposed on a joint UK-Iran natural gas field in the North Sea. UK Department of Energy and Climate Change (DECC) consulted the US and EU officials over releasing sanctions on Iran's state oil company, the Wall Street Journal said in a report. "We are working with the EU to ensure the long-term security of the Rhum North Sea gas field and will be making an announcement on this in due course," said the office for the DECC. The US State Department also said they have discussed the issue with the British government, without releasing any further details. The National ...
Education or Acquired Wisdom
Post Date: 2013-09-15 14:19:45 by X-15
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During a robbery in Guangzhou, China, the bank robber shouted to everyone in the bank: "Don't move. The money belongs to the State. Your life belongs to you." Everyone in the bank laid down quietly. This is called ..."Mind Changing Concept” Changing the conventional way of thinking. When a lady lay on the table provocatively, the robber shouted at her: "Please be civilized! This is a robbery and not a rape!" This is called "Being Professional” Focus only on what you are trained to do! When the bank robbers returned home, the younger robber (MBA-trained) told the older robber (who has only completed Year 6 in primary school): "Big brother, ...
Dollar's demise - View from Russia
Post Date: 2013-09-15 03:42:39 by Tatarewicz
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Dollar era drawing to its end. At the G-20 summit in St. Petersburg the discussion of U.S. aggression against Syria overshadowed the economic issues. Meanwhile, there have been certain developments in this area that are crucial for the future of the global economy. The first steps were made to rid the banking and financial system of the dictatorship of the U.S. dollar as the world reserve currency. U.S. power is determined by two components: the dollar as the world reserve currency and the army. When the U.S. dollar becomes weaker, the army starts acting, arranging demonstrations and beneficial in the long run aggressions "oil in exchange for democracy." There are many examples ...
3 Dangerous Myths About Rising Bond Yields
Post Date: 2013-09-15 02:02:46 by Tatarewicz
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3 Dangerous Myths About Rising Bond Yields Now that interest rates are up 100% and bonds are down 20%, pundits are jumping aboard the forecast for rising yields. But they don't understand why yields are rising—and that's the most important part of the long-term story for investors. (Most people think the rise is due to either prosperity or inflation, but it's neither.) More than a year ago, in the face of fierce opposition from the bond bulls in the forecasting industry, leading market forecasting firm Elliott Wave International issued this to-the-point forecast: The bull market in the bond market is aged and ripe for a reversal. Generally speaking, if you are invested ...
Twitter takes first step to go public with IPO filing
Post Date: 2013-09-12 20:52:15 by Tatarewicz
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SAN FRANCISCO/NEW YORK (Reuters) - Twitter Inc has filed for an initial public offering with U.S. regulators, the company said on Thursday, taking the first step toward what would be Silicon Valley's most anticipated debut since Facebook Inc's last year. The impending IPO of the microblogging phenomenon ignited a competition among Wall Street's biggest names for the prestige of managing its coming-out party. Goldman Sachs is lead underwriter, a source familiar with the matter said on Thursday, which is a major coup for the Wall Street bank. Twitter filed for an IPO confidentially under a 2012 law intended to help emerging corporations with less than $1 billion in revenue go ...
Motorola now shipping 100,000 Moto X phones per week from U.S. plant
Post Date: 2013-09-12 00:17:53 by Tatarewicz
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Google’s Motorola has ramped up production of its Moto X hero phone and is now shipping out 100,000 units each week from its assembly plant near Dallas, Texas. ”When you set up to ramp a factory you need a plan, and we have shipment targets we need to make with our carrier partners, and where we need to be right now is 100,000 units and that’s where we are,” Motorola CEO Dennis Woodside told Reuters in an interview. Motorola took a unique approach with its new Moto X Android phone, allowing users to configure customized color combinations on a dedicated website and even choose a wallpaper and custom welcome message that is displayed while the phone boots. Shipments of ...
The State As An Attractor for Sociopaths
Post Date: 2013-09-10 09:12:56 by Ada
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What the government is good at is collecting taxes, taking away your freedoms and killing people. It’s not good at much else. - Tom Clancy In the science of chaos, “attractors” are operational principles around which turbulence and apparent chaos are harmonized. What the limited nature of our prior experiences dismisses as randomness or disorder, the study of chaos and complexity is revealing as deeper patterns of regularity. Attractors help to identify the dynamics by which complex systems organize themselves. Thus, it could be said that an earthquake fault line serves as an “attractor” for geologic forces in plate tectonics, just as river systems are attractors ...
US exempts EU nations from Iran oil sanctions
Post Date: 2013-09-07 04:14:41 by Tatarewicz
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WASHINGTON (AP) — The U.S. granted exemption from Iran sanctions to 10 European countries and Japan on Friday because all of them have significantly reduced or halted oil imports from the Islamic Republic. Japan continues to import oil from Iran but all European Union countries halted them a year ago. American sanctions are designed to pressure Iran to curb its nuclear program, which Washington suspects is aimed at producing weapons. Iran has repeatedly insisted it is only for generating electricity and medical research. The most ambitious U.S. tactic has involved pressuring countries around the world to cut commercial ties with Iran or face a series of restrictions on what type ...
Make $377,000 trading Apple in one day
Post Date: 2013-09-03 16:17:12 by X-15
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FORTUNE -- Two recent studies of latency arbitrage suggest the stock-market structure needs a remodel if it's ever going to stop billions of dollars going from unwitting investors into the pockets of high-speed trading firms. "Latency" refers to the time it takes for a stock quote to get from an exchange's server to a trader's screen. This varies from exchange to exchange and from trading computer to computer. Latency arbitrageurs take advantage of these inconsistencies. It's well known that some high-frequency computer geeks at firms like Getco LLC take advantage of latency, just as it's well known that some Blackjack-playing computer geeks count cards in ...
Why Whiskey Was Money, and Bitcoins Might Be
Post Date: 2013-09-03 16:12:46 by X-15
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Currency is a crossroads for many free market advocates. Monetarists, including Nobel laureate Milton Friedman, have long argued in favor of central banks stabilizing price levels. They say the institution would provide a sense of comfort to debtors and creditors wary of inflation. Constitutionalists, albeit embracing a general disdain for the Federal Reserve, still see Article I, Section 8 as healthy advice. They say giving Congress the exclusive power to coin money would lead to increased transparency, incentivizing legislators to slash the budget. It really isn’t until we reach the Misesian ideals of minimal government that we begin to see worthwhile considerations of private ...
Roger Mason says....
Post Date: 2013-09-01 23:18:48 by christine
3 Comments
We are about to see a Treasury bond disaster. You do not need to understand the bond market at all. As bond yields rise, the bond price falls (and interest rates rise). Right now bonds yield a mere 2.9%. This means interest rates are artificially very low. No one in their right mind would buy them when the real inflation rate is about 10%. You would lose 7% a year. Well, the Chinese, Japanese, and other fools have been buying them. They've stopped. No one wants worthless American Treasury paper. The Feds are desperate, and have no good answer. Bond yields will go up along with interest rates. THIS SPELLS DISASTER, not just for America, but the whole world. This is all tied in with the ...
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