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Latest Articles: Business/Finance
IEA sees collapse in 2016 US oil output
Post Date: 2015-09-11 07:20:02 by Tatarewicz
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PressTV... The International Energy Agency (IEA) says it expects low oil prices to force the US to cut output by the steepest rate in more than two decades next year. The IEA in a report has warned that the production of other non-OPEC producers could also be reduced. The agency said global oil demand was poised to climb to a five-year high this year thanks to lower prices, adding that production cuts by the US and others could help rebalance an oversupplied market. Reuters has described IEA’s report as one of the most bullish for OPEC since the group shocked markets last year by deciding against cutting production, choosing to fight for market share and depress the output of ...
Why the Greeks Should Repudiate Their Government’s Debt
Post Date: 2015-09-10 16:58:31 by Ada
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In apportioning blame for the Greek government debt crisis, it would be difficult not to lay the major share on Greece itself. With government jobs paying three times the private sector average, a national rail service with a wage bill four times its annual revenue, a public pension system that would pay out generous benefits at fifty for anyone classified as working in “arduous” professions like hairdressing, there is no shortage of taxpayer-funded largesse running rampant through Greek society. At this point however, dissecting the Greek’s failure to live within their means is not only nugatory — beyond proving the time-tested observation that people like something ...
China intends to oust dollar from oil trade
Post Date: 2015-09-09 21:21:23 by Tatarewicz
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RT... China is planning to launch its own oil benchmark in October, similar to Brent and WTI, striving for a more important role in establishing crude prices. Unlike the Western benchmarks, the Chinese contracts will be nominated in the yuan, not the US dollar. Shanghai International Energy Exchange sent a draft futures contract to market players in August, Reuters reported quoting sources. Oil futures will be the first Chinese contract to permit direct participation of foreign investors. However, this is not the first step for greater oil market openness in China. In July, Beijing allowed private companies to import crude. Previously importing was only done by state-run majors such as ...
Interest rate rise: turning point looms for US debt binge
Post Date: 2015-09-09 09:16:19 by Ada
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Whither The Economy?
Post Date: 2015-09-09 08:57:06 by Ada
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The great problem with corporate capitalism is that publicly owned companies have short time horizons. Unlike a privately owned business, the top executives of a publicly owned corporation generally come to their positions late in life. Consequently, they have a few years in which to make their fortune. As a consequence of the short-sightedness of reformers and Congress, the annual salaries of top executives were capped at $1 million. Amounts in excess are not deductible for the company as an expense. The exception is “performance-related” pay, which has no limit. The result is that the major part of executive pay comes in the form of performance bonuses. Performance means a ...
Marc Faber: There 'Is No Safe Asset Anymore'
Post Date: 2015-09-08 16:47:42 by BTP Holdings
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Marc Faber: There 'Is No Safe Asset Anymore' Image: Marc Faber: There 'Is No Safe Asset Anymore' By FJ McGuire | Monday, 07 Sep 2015 08:13 PM Marc Faber, publisher of "The Gloom, Boom & Doom Report," warns investors that he thinks there “is no safe asset anymore.” He did, however, suggest that the mining sector shows promise for investors. “I think that because of modern central banking and repeated monetary policy interventions, there is no safe asset anymore,” he told Bloomberg TV. “When I grew up in the 1950s it was safe to put your money in the bank on deposit, the yields were low but it was safe. [But] nowadays you ...
New Laws Seizing ‘Total Control Over the Finances of Every Single American’
Post Date: 2015-09-05 11:45:46 by BTP Holdings
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New Laws Seizing ‘Total Control Over the Finances of Every Single American’ U.S. Government Waging “War on Cash”… Cash Soon to Be Outlawed? At Least 1 Nation Moving in that Direction… What You Can Do to Prepare… The U.S. government views cash – paper currency and coins – as an enemy. How else to explain their ongoing “War on Cash”? Recently, FBI agents raided a convenience store and took $107,702 right from the owner’s bank account. His alleged “crime”? Making two cash deposits of $11,400 in 24 hours. This isn’t an isolated case. The FBI has already extensively used civil asset forfeiture laws to seize ...
New Book Reveals President Reagan's Secret “702(j) Retirement Plan”
Post Date: 2015-09-05 11:22:57 by BTP Holdings
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New Book Reveals President Reagan's Secret “702(j) Retirement Plan” If You Meet the 2 Small Qualifications Below, You Could Retire With an Extra $4,098 per Month—Tax-Free “[The '702(j) Retirement Plan'] would pay more than social security... “It would guarantee [1.7 times more income] a month at age 65.” FACT--> 217 major U.S. banks have already funneled $143 billion into Reagan's secret “702(j) Retirement Plan.” (Including JP Morgan Chase, Citibank, TD Bank, Ally Bank, E*TRADE Bank, Bank of America, and Wells Fargo.) FACT--> Washington insiders including Vice President Joe Biden, Hillary Clinton, and 54 elected ...
Here Are The "Unlikely" Cities Bloomberg Says Will Drive The US Economy
Post Date: 2015-09-04 19:39:18 by HAPPY2BME-4UM
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Back in May we highlighted a report from Georgetown that endeavored to show which college majors were most likely to help students land high-paying jobs upon graduation. While this would be important under any circumstances, it’s especially important today. Why? Two reasons, i) far from a steady creator of breadwinner jobs, the US economy routinely churns out bartenders and waiters, while the BLS has a habit of “vanishing” the jobless and creating what we’ve called a “statistical mirage” which makes it appear as though unemployment is falling even as the labor force participation rate plunges to multi-decade lows, and ii) graduates are now leaving school ...
Puerto Rico Deal: Utility Bondholders Lose 15 Percent of Value
Post Date: 2015-09-04 17:41:00 by BTP Holdings
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Puerto Rico Deal: Utility Bondholders Lose 15 Percent of Value Image: Puerto Rico Deal: Utility Bondholders Lose 15 Percent of Value (Dollar Photo Club) Wednesday, 02 Sep 2015 10:34 PM Puerto Rico’s Electric Power Authority said it has reached an agreement with some bondholders and hedge funds to restructure $8.3 billion of the agency’s debt, with investors taking about a 15 percent loss in a debt exchange. The agreement with owners of about 35 percent of the outstanding bonds will reduce the utility’s debt by about $670 million and save more than $700 million in principal and interest over the next five years, according to a statement Wednesday from the electricity ...
Dollar as World's Reserve Currency Threatened
Post Date: 2015-09-02 13:31:10 by Stephen Lendman
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Dollar As World’s Reserve Currency Threatened by Stephen Lendman US dollar dominance finances Washington’s reckless spending, global militarism, its empire of bases, endless wars, corporate takeovers, as well as speculative excess creating bubbles and economic crises - at the expense of democratic freedoms and beneficial social change. China, Russia and other nations increasingly trading in their own currencies pose a significant threat to dollar dominance. Mahdi Darius Nazemroaya explained Washington’s currency war on China, saying: “The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling ...
A Tasty Candidate Word Salad
Post Date: 2015-09-01 16:47:15 by BTP Holdings
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A Tasty Candidate Word Salad Posted on August 31, 2015 by Brad Hoppmann Last Monday morning, stocks experienced a near-1,100-point downdraft in the first five minutes of trade. Things were far calmer this Monday, although the Dow gave back about 0.70%, or 115 points, as the closing bell sounded. All told, the Industrials lost 6% for the month. Although the extreme volatility isn’t what it was a week ago, that doesn’t mean that the selling we saw last week is over. Some are saying that, after last week’s near-capitulation sell-off and subsequent Wednesday and Thursday surge, it feels like the markets have put in a near-term bottom. Yet I suspect that call is at best ...
How FBI Agents Just Seized $107K from a Store OwnerÂ’s Bank Account
Post Date: 2015-09-01 16:41:16 by BTP Holdings
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How FBI Agents Just Seized $107K from a Store Owner’s Bank Account U.S. Government Waging “War on Cash”… Cash Soon to Be Outlawed? At Least 1 Nation Moving in that Direction… What You Can Do to Prepare… The U.S. government views cash – paper currency and coins – as an enemy. How else to explain their ongoing “War on Cash”? Recently, FBI agents raided a convenience store and took $107,702 right from the owner’s bank account. His alleged “crime”? Making two cash deposits of $11,400 in 24 hours. This isn’t an isolated case. The FBI has already extensively used civil asset forfeiture laws to seize cash from ...
Jim Rogers: Fed Will 'Save the Market' One Last Time
Post Date: 2015-09-01 16:34:16 by BTP Holdings
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Jim Rogers: Fed Will 'Save the Market' One Last Time Image: Jim Rogers: Fed Will 'Save the Market' One Last Time Jim Rogers (AP photo) By FJ McGuire | Tuesday, 01 Sep 2015 08:47 AM The Federal Reserve will probably "save the market one more time" by artificially printing money, but the next big rally will be the last before an economic day of reckoning arrives, international investor Jim Rogers told Newsmax TV. The nation’s central bank will "buy more bonds, they'll do something and then we'll have another big rally but that's going to be the last rally," the chairman of Rogers Holdings told "Newsmax Prime." "Maybe ...
Fed's Stanley Fischer Speaks—More Drivel From a Dangerous Academic Fool
Post Date: 2015-09-01 16:31:51 by BTP Holdings
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Fed's Stanley Fischer Speaks—More Drivel From a Dangerous Academic Fool By David Stockman | Monday, 31 Aug 2015 04:46 PM With every passing week that money markets rates remain pinned to the zero bound by the Fed, the magnitude of the financial catastrophe hurtling toward Main Street America intensifies. That’s because 80 months — and counting — of zero interest rates are fueling the most stupendous gambling frenzy that Wall Street has ever witnessed or even imagined. Sooner or later, therefore, this mother of all financial bubbles will splatter, bringing untold harm to millions of households which have been lured back into the casino. The truth is, zero cost in ...
NOW THAT ALL OUR INDUSTRY IS ON FOREIGN SHORES AND MEXICO HAS MOVED TO THE USA - The surging ranks of America's ultrapoor
Post Date: 2015-09-01 12:02:05 by HAPPY2BME-4UM
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By one dismal measure, America is joining the likes of Third World countries. The number of U.S. residents who are struggling to survive on just $2 a day has more than doubled since 1996, placing 1.5 million households and 3 million children in this desperate economic situation. That's according to "$2.00 a Day: Living on Almost Nothing in America," a book from publisher Houghton Mifflin Harcourt that will be released on Sept. 1. The measure of poverty isn't arbitrary -- it's the threshold the World Bank uses to measure global poverty in the developed world. While it may be the norm to see families in developing countries such as Bangladesh and Ethiopia struggle to ...
Stanley Fischer Speaks——-More Drivel From A Dangerous Academic Fool
Post Date: 2015-09-01 08:41:22 by Ada
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With every passing week that money markets rates remain pinned to the zero bound by the Fed, the magnitude of the financial catastrophe hurtling toward main street America intensifies. That’s because 80 months—– and counting—–of zero interest rates are fueling the most stupendous gambling frenzy that Wall Street has ever witnessed or even imagined. Sooner or later, therefore, this mother of all financial bubbles will splatter, bringing untold harm to millions of households which have been lured back into the casino. The truth is, zero cost in the money market is irrelevant to main street. As we have repeatedly demonstrated the household sector is stranded at ...
Is This the Time to Look for Bargains in Energy?
Post Date: 2015-09-01 06:31:36 by Tatarewicz
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US News&WR Investors who bought up energy stocks or crude oil futures a few months ago when it seemed like petroleum prices had bottomed are likely feeling some pain after the late-August drop in the equities market. Greater concerns about China's economy, despite the government's attempts to stabilize its sinking stock market, spurred both a late-August sell-off in energy prices and the stock market. Crude oil has suffered from oversupply for at least a year now, and the situation hasn't improved despite hopes earlier in the year that a drop in the number of U.S. oil rigs would mean less output. Although the count is down versus a year ago, U.S. oil rig counts grew in ...
The New World War is Already Here
Post Date: 2015-08-31 16:27:58 by BTP Holdings
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Financial warfare is not the warfare of the future — it is already here. It’s going to become a bigger threat as time goes on, too. But before we explain how and why it’s important, let’s begin by analyzing this new kind of war with a definition. Financial warfare, like conventional warfare, is intended to enhance national power, diminish the power of rivals and achieve policy goals. It is actual warfare conducted through banking and capital markets channels. It is not mere economic policy as in the case of so-called currency wars, trade wars or embargoes. Financial warfare can serve many purposes. The 2015 U.S. financial war on Russia, for example, is intended as ...
BLAME THE FEDERAL RESERVE, NOT CHINA, FOR STOCK MARKET CRASH
Post Date: 2015-08-31 09:08:00 by Ada
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Instead of trying to “fix” the Federal Reserve, Congress should start restoring a free-market monetary system Following Monday’s historic stock market downturn, many politicians and so-called economic experts rushed to the microphones to explain why the market crashed and to propose “solutions” to our economic woes. Not surprisingly, most of those commenting not only failed to give the right answers, they failed to ask the right questions. Many blamed the crash on China’s recent currency devaluation. It is true that the crash was caused by a flawed monetary policy. However, the fault lies not with China’s central bank but with the US Federal Reserve. ...
The Central Bankers’ Malodorous War On Savers
Post Date: 2015-08-29 05:21:11 by Ada
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Well, that didn’t take long! After just three days of market turmoil the monetary politburo swung into action. This time they sent out B-Dud to promise still another monetary sweetener. Said the head of the New York Fed, “From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks ago.”. Needless to say, “B-Dud” is a moniker implying extreme disrespect, and Bill Dudley deserves every bit of it. He is a crony capitalist fool and one of the Fed ring-leaders prosecuting a relentless, savage war on savers. Its only purpose is to keep carry trade speculators ...
Weak Ruble Drives Russian Car Production Boom
Post Date: 2015-08-29 04:53:08 by Tatarewicz
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PravdaMainForum... Volkswagen and Hyundai representatives have announced unprecedented plans to increase the production of their cars in Russian factories, for eastern export markets August 26th (Sputnik) - Volkswagen and Hyundai are planning to take advantage of the weak ruble and boost production in their Russian factories of vehicles for export markets in the Middle East and Far East, company representatives announced this week. In the coming weeks, Hyundai will begin delivering the Solaris, produced in its Russian factory, overseas to Egypt and Lebanon, the company's Russian head office stated on August 25. By the end of August, the carmaker's Russian factory will have ...
Transocean cuts stock dividends on slumping revenue
Post Date: 2015-08-29 02:05:14 by Tatarewicz
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PressTV... Transocean, one of the world's largest operators of offshore platforms, has announced plans to slash stock dividends, citing the company’s falling revenues amid global oil market turbulence as the reason. According to a statement issued on Wednesday, the worsening situation of the oil market has wreaked havoc on the Switzerland-based company’s earnings, prompting its managers to cut shareholders’ dividends, AFP reported. The company announced the decision for scrapping of shareholder payments and an asset impairment of 2.0 billion Swiss francs (USD 2.1 billion, 1.8 million euros) overnight, adding that the decision will be formalized at an extraordinary ...
BUY! The Daily’s hot stock tip of the day: Waffles, tasty waffles…
Post Date: 2015-08-28 15:20:25 by BTP Holdings
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BUY! The Daily’s hot stock tip of the day: Waffles, tasty waffles… By J. Reeves August 28, 2015 If there’s one theme we’ve driven home this week, it’s this: Don’t panic. Snap decisions made from fear (or greed) never end well. Here’s a little levity on market irrationality to help drive this home… Poster Comment:Recall the movie, "Trading Places". LOL
JPMorgan's Kolanovic: Quantitative Traders May Trigger Market Crash
Post Date: 2015-08-28 15:13:32 by BTP Holdings
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JPMorgan's Kolanovic: Quantitative Traders May Trigger Market Crash Thursday, 27 Aug 2015 04:51 PM Volatility in the U.S. equity market is being whipped up by traders who don’t care what stocks are worth, according to an analyst at JPMorgan Chase & Co. Selling by “price insensitive” investors employing strategies that take their cue from recent trends in stocks is worsening this week’s swings, according to Marko Kolanovic, a derivatives strategist at the New York-based bank. In particular, he cited forced selling by traders who hold positions known on Wall Street as “short gamma,” a bet that prices won’t move much. The research comes about a ...
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