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Latest Articles: Business/Finance
BOJ Increases QE
Post Date: 2013-04-06 03:14:33 by Stephen Lendman
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BOJ Increases QE by Stephen Lendman On April 4, the Financial Times headlined "Bank of Japan follows the Fed, on steroids." Pedal-to-the- metal reflects new governor Haruhiko Kuroda's policy. At a news conference he said: "This is an entirely new dimension of monetary easing, both in terms of quantity and quality." Except for emergency late 2008 easing, its the largest ever BOJ monetary madness. It's not "short-term emergency" driven. It's a "deliberate change in philosophy." It abandons everything BOJ said about monetary policy before. It's high risk. The fullness of time will have final say. It may hit home like a hammer. ...
JIM CHANOS: Charity Can Be A Sign Of Fraud
Post Date: 2013-04-04 10:32:07 by Ada
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Legendary short seller Jim Chanos gave an extensive interview to Salon.com about how to spot fraud and corruption in business. It's an incredible coincidence that the story was published today, since the news broke that former Enron CEO Jeff Skilling, a man Chanos helped put behind bars, could be getting out of jail early. Enron is held up as the paragon of 1990s corporate greed. There, not everything was as it seemed despite excellent press all over the business world and a great reputation. The point is that companies can build amazing brands without being amazing businesses, and as Chanos points out, part of that brand can be doing charity work. From Salon: One of the more ...
Public Banking: What Better Time Than Now
Post Date: 2013-04-04 03:43:53 by Stephen Lendman
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Public Banking: What Better Time Than Now by Stephen Lendman Money power in private hands games the system. It does so destructively. Controlling money, credit and debt for private enrichment assures speculation, booms, busts, inflation, deflation, instability, crisis, recessions and depressions. The Cypriot crisis alone begs the question. Money power in public hands could have avoided what's now happening. Ordinary Cypriots face horrific hard times. So do most people in Euroland countries and America. Force-fed austerity is policy. Banks accounts no longer are safe. Nor are public pensions. Insiders get advance word and flee. From March 1 - 15, 132 companies with Cypriot deposits ...
The "Muddle Through" Has Failed: BCG Says "There May Be Only Painful Ways Out Of The Crisis
Post Date: 2013-04-04 03:35:26 by Tatarewicz
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Denial. Denial is safe. Comforting. Religiously and relentlessly abused by politicians who don't want nor can face reality. A word synonymous with "muddle through." Ah yes, that "muddle through" which so many C-grade economists and pundits believe is the long-term status quo for the US and the world just because it worked for Japan for the past three decades, or, said otherwise, "just because." Well, too bad. As the following absolutely must read report, which comes not from some trader of dubious credibility interviewed by BBC, nor even from an impassioned executive from a doomed Italian bank, but from consultancy powerhouse Boston Consulting Group ...
Russian Leader Warns, “Get All Money Out Of Western Banks Now!”
Post Date: 2013-04-03 22:43:53 by Tatarewicz
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By: Sorcha Faal A Ministry of Foreign Affairs (MFA) “urgent bulletin” being sent to Embassies around the world today is advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions “immediately” as Kremlin fears grow that both the European Union and United States are preparing for the largest theft of private wealth in modern history. According to this “urgent bulletin,” this warning is being made at the behest of Prime Minister Medvedev who earlier today warned against the Western banking systems actions against EU Member Cyprus by stating: “All possible mistakes that could be made have ...
Austrians Don’t Blow Bubbles
Post Date: 2013-04-02 08:02:31 by Ada
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It Didn’t Have to Be This Way: Why Boom and Bust Is Unnecessary—and How the Austrian School of Economics Breaks the Cycle, Harry C. Veryser, ISI Books, 328 pages By • April 2, 2013 illustration by Michael Hogue Remember the golden days of 2007, when we were all investment prodigies? Though I couldn’t balance a checkbook or drive a car, I had raked in 25 percent increases each year on my 401k since 2001, so I felt like a bookish Donald Trump. While I worked as a college English teacher at a school with 70 students, the nice man from Fidelity showed me how I could retire in 20 years with a nest egg of $1 million—heady stuff for a doorman’s son who’d never ...
“Burning Money” — We’re Teased that Prez Obama loves this company that turns natural gas flaring into cash
Post Date: 2013-04-01 01:39:07 by Tatarewicz
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How You Could Make a Killing on the Breakthrough That's Turning This Wasted Gas Into Big Profits…" Several of you have asked about this tease from Inside Investing — here’s how the pitch is introduced in one of the ads I reviewed: “A tiny company President Obama loves… “This tiny company’s energy breakthrough is so critical President Obama even mentioned its name in a recent speech about America’s future. “As one major publication reported, ‘History just might repeat itself, with [this breakthrough] revolutionizing the power industry just as the microprocessor did the computer industry.’ “This could be your chance at ...
Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The Numbers
Post Date: 2013-03-31 22:55:55 by Tatarewicz
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Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The NumbersWhy is the global economy in so much trouble? How can so many people be so absolutely certain that the world financial system is going to crash? Well, the truth is that when you take a look at the cold, hard numbers it is not difficult to see why the global financial pyramid scheme is destined to fail. In the United States today, there is approximately 56 trillion dollars of total debt in our financial system, but there is only about 9 trillion dollars in our bank accounts. So you could take every single penny out of the banks, multiply it by six, and you still would not have enough money to pay off all of ...
Proof Coporations are Looting America
Post Date: 2013-03-30 21:40:02 by Prefrontal Vortex
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Poster Comment:The normal level of profit going is back some ways 6% of GDP.
Cyprus Postmortems: Part II
Post Date: 2013-03-29 03:31:02 by Stephen Lendman
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Cyprus Postmortems: Part II by Stephen Lendman On March 28, Cyrus Mail said banks opened for the first time in almost two weeks. They did so at midday local time. Cypriots face draconian restrictions. How they'll react remains to be seen. Capital controls limit withdrawals, restrict non-cash transactions, freeze check cashing, and convert checking accounts into fixed-term deposits. Finance Minister Michalis Sarris "signed into law a temporary decree." It caps cash withdrawals "per person per bank at 300 euros." It "effectively ban(s) cheques and control(s) cash outflows from the country." It permits only 1,000 euros per person to travel abroad per ...
The Cyprus Debacle Proves The Eurozone Is Dangerous And Must End
Post Date: 2013-03-28 08:49:39 by Ada
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The punishment regime imposed on Cyprus is a trick against everybody involved in this squalid saga, against the Cypriot people and the German people, against savers and creditors. All are being deceived. Click for Full Text!
New BRICS Development Bank Announced
Post Date: 2013-03-28 03:20:58 by Stephen Lendman
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New BRICS Development Bank Announced by Stephen Lendman In September 2006, four original BRIC nations met in New York. On May 16, 2008, Yekaterinburg, Russia hosted a full-scale diplomatic meeting. In June 2009, Brazil, Russia, India and China again met in Yekaterinburg. Early steps were taken to end dollar supremacy. Eventual plans may replace it with a global currency or basket of major ones. In 2010, South Africa joined the BRIC alliance. It was formally invited to do so. The group was renamed BRICS. Annual summits are held. On March 26 and 27, Durban, South Africa hosted the group's fifth one. More on that below. Their "mechanism aims to achieve peace, security, ...
The Collapse of the Value of a College Education
Post Date: 2013-03-27 06:34:58 by Ada
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College education has become expensive and nearly useless. Got that? Price up, quality down. No surprise, when government gets involved. Even WSJ seems to get this (partially). In a recent article, they write: By some measures, nearly half of employed college graduates are in jobs that don't traditionally require a college degree. Unfortunately, WSJ seems to blame this on robots: Ia paper released Monday by the National Bureau of Economic Research, a team of Canadian economists argues that the U.S. faces a longer-term problem. They found that unlike the 1990s, when companies needed hundreds of thousands of skilled workers to develop, build and install high-tech systems—everything ...
Get Your Assets out of the Banks – NOW
Post Date: 2013-03-25 07:19:56 by Ada
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“THERE IS NO MEANS OF AVOIDING THE FINAL COLLAPSE OF A BOOM BROUGHT ABOUT BY CREDIT EXPANSION. THE ALTERNATIVE IS ONLY WHETHER THE CRISIS SHOULD COME SOONER AS A RESULT OF A VOLUNTARY ABANDONMENT OF FURTHER CREDIT EXPANSION, OR LATER AS A FINAL OR TOTAL CATASTROPHE OF THE CURRENCY SYSTEM INVOLVED” – Ludwig von Mises CYPRUS The Cyprus event may later, in the history books, be seen as the catalyst of the fall of a century long Ponzi scheme. This could rank in line with the shot in Sarajevo as the start of WW1 or the collapse of Kreditanstalt in 1931 as the start of the Great Depression. Isn’t it ironic that exactly 100 years after the creation of the Fed (a private ...
Statoil announces large gas find in Tanzania
Post Date: 2013-03-25 02:42:14 by Tatarewicz
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Norwegian oil group Statoil on Monday announced a large natural gas find with US partner ExxonMobil off Tanzania's coast, the third major discovery in a year by the two companies in the country. The Tangawizi-1 well contained between 712 million and 1.07 billion barrels of oil equivalent (boe), bringing the total reserves of the block in question to between 2.67 and 3.03 billion boe, the Oslo-based company said in a statement. It was located at a depth of 2,300 metres, 10 kilometres from the previous Zafarani and Lavani discoveries, which the company believes could hold recoverable reserves of up to 2.32 billion boe. Statoil is the operator of the block on behalf of the Tanzania ...
Cyprus, creditors secure preliminary bailout agreement
Post Date: 2013-03-25 00:19:16 by Tatarewicz
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PressTV: Cypress banks are shut nationwide until March 26 to prevent cash withdrawals, prompting people to form long lines at cash machines, which only dispense a lowered daily amount of 260 euros for each individual account. Cyprus and international lenders have reportedly reached a preliminary bailout agreement to save the cash-strapped island nation from bankruptcy. European Union sources said that the agreement between Cyprus, the International Monetary Fund and the European Commission was reached early on Monday in Brussels. The deal paves the way for the country to receive a 10-billion-euro ($13 billion) bailout. Later in the day in another meeting in the same building in ...
The "C" Words
Post Date: 2013-03-23 13:06:52 by Esso
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CAPITAL CONTROLS, Confiscation, Cyprus, Crisis, Crash, Catastrophe, Calamity, Cannibalism, Crap... Cyprus Deposit Levy Vote Delayed, Will Go "Down To The Wire" As Up To 70% Deposit Tax Contemplated For Some Cyprus Officially Passes Capital Controls Into Law Texas Wants Its Gold Back From The FedGood luck with that Texans, or should I say anti-semitic enemy combatant terrorists? LET SLIP THE DRONES OF WAR! JPMorgan On The Inevitability Of Europe-Wide Capital Controls
Cyprus Lifts the Curtain
Post Date: 2013-03-22 09:26:14 by Ada
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This week financial analysts, economists, politicians, and bank depositors from around the world were outraged that European leaders, more specifically the Germans, currently calling many of the shots in Brussels and Frankfurt, could be so politically reckless, economically ignorant, and emotionally callous as to violate the sanctity of bank deposits in order to fund a bailout of Cyprus. The chorus of condemnation may have been the deciding factor in giving the Cypriot parliament the confidence to unanimously vote down the measures in hopes that Berlin will cave or Russia will swoop in with a bailout. The decision to inflict pain on both large and small depositors was almost universally ...
Lew Rockwell: Your Money is Not Safe in the Banks
Post Date: 2013-03-20 22:21:07 by christine
17 Comments
FAA plans to close up to 248 towers - Senate Rejects Efforts To Avert Mass ATC Tower Closures
Post Date: 2013-03-20 00:21:59 by SilverStorm
4 Comments
March 19, 2013 The fate of three-quarters of the contract tower program remains uncertain after Senate leaders late March 18 blocked Sen. Jerry Moran’s (R-Kan.) amendment from coming up for a vote. The measure, which Moran had hoped to amend to the continuing resolution (CR) short-term government-wide spending bill (H.R.933), would have limited the cuts FAA could make to the program, but give FAA more funding flexibility to help pay for the program. Supporters believed that if the amendment had come up for a vote, it would have passed. In fact, by March 18, nearly one-quarter of the Senate, Democrats and Republicans, had signed on as co-sponsors. But the Senate, grappling with ...
Here's Why Jeremy Grantham Thinks Billions Of People Are Going To Starve To Death
Post Date: 2013-03-18 10:31:15 by Ada
11 Comments
Investor Jeremy Grantham of GMO recently went on the Charlie Rose show and described his startlingly depressing outlook for the future of humanity. Grantham thinks the number of people on Earth has finally and permanently outstripped the planet's ability to support us. Grantham believes that the planet can only sustainably support about 1.5 billion humans, versus the 7 billion on Earth right now (heading to 10-12 billion). So, basically, Grantham thinks most of us are going to starve to death. Why? In part because we're churning through a finite supply of something that is critical to our ability to produce food: Phosphorus. Phosphorus is a critical ingredient of fertilizer, and ...
Ranting Andy Hoffman (Emergency Sunday Report) – Eurozone Collapse Coming On Heals Of Cyprus Bank Theft (Must Listen)
Post Date: 2013-03-18 01:38:48 by christine
6 Comments
http://ec.libsyn.com/p/3/8/5/3857fec277ea3d48/Emergency_Report_with_Ranting_Andy_Hoffman_03-17-13.mp3?d13a76d516d9dec20c3d276ce028ed5089ab1ce3dae902ea1d01ce8432d6cf5c7beb&c_id=5498142<----click for audio
Taiwan moving from US dollar into China yuan
Post Date: 2013-03-15 01:32:55 by Tatarewicz
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News Analysis: Taiwan, next major RMB offshore center? TAIPEI, March 14 (Xinhua) -- Taiwan, while not famous as a financial hub, is being considered as a candidate to become the next major renminbi (RMB) offshore center along with Hong Kong. Taiwan's vast economic and trade ties with the Chinese mainland give the island a major advantage as an offshore center for RMB transactions, Peter Sands, group chief executive officer of Standard Chartered Bank, said at the Taiwan Economic Summit on Thursday. Taiwan is now the second major market after Hong Kong that is able to clear transactions in RMB, or the yuan, as the Chinese mainland has stepped up efforts to foster the global use of the ...
Roger Mason's March Economic Rant
Post Date: 2013-03-13 10:18:57 by christine
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Well forks, nothing good is happening certainly. 2013 should be the year of the Big Staged Event that ushers in martial law. This will make the 9/11 hoax look mild in comparison. It has been 12 years now and this is very, very overdue. Be prepared! For example, this could be the next fake 9/11 to usher in martial law. here all the top five U.S. nuclear carriers docked together for no good reason at all in Virginia. Military policy DEMANDS this never happens, that they never be grouped together like this. This makes them very vulnerable. It is an ideal setup for the CIA and Mossad to blow them up, blame the Iranians, attack Iran, declare martial law, and start World War III. The federal ...
Penny Pritzker: Obama's Likely Commerce Secretary Choice
Post Date: 2013-03-13 03:26:51 by Stephen Lendman
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Penny Pritzker: Obama's Likely Commerce Secretary Choice by Stephen Lendman She's one of America's most powerful women. For sure she's one of the richest. Forbes estimates she's worth $1.85 billion. She's also heir to the Hyatt Hotels and Pritzker family fortune. It's net worth exceeds $20 billion. Some think it's much more. No one knows for sure. It's stashed in tax havens. Only little people pay what they owe. Billionaires use money to make more of it. They steal plenty along the way. Balzac said behind every great fortune lies a great crime. Tax Justice Network estimates up to $32 trillion in hidden and stolen wealth stashed in tax havens. Maybe ...
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