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Latest Articles: Business/Finance
ALMOST CASHLESS, INDUSTRIES ARE SHUTTING DOWN -
Post Date: 2015-07-02 22:12:31 by HAPPY2BME-4UM
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Greek banks down to €500m in cash reserves as economy crashes The daily allowance of cash from many ATM machines has already dropped from €60 to €50, purportedly because €20 notes are running out Greece is sliding into a full-blown national crisis as the final cash reserves of the banking system evaporate by the hour and swathes of industry start to shut down, precipitating the near disintegration of the ruling coalition. Business leaders have been locked in talks with the Bank of Greece, pleading for the immediate release of emergency liquidity funds (ELA) to cover food imports and pharmaceutical goods before the tourist sector hits a brick wall. Officials say the ...
Almost $200 Million Donated to Representatives to Pass TPA
Post Date: 2015-07-02 13:40:29 by Ada
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Many think our government is for sale. However, by taking a look at the facts below provided by the Open Secrets, it is easy to understand where they are coming from. Looking back at Friday the 12th, the House voted on Trade Promotion Authority (TPA), the controversial bill that gives power to the executive branch to negotiate treaties. TPA limit's Congress' ability to better a trade deal by subjecting members of Congress to 90 days of reviewing the trade agreement, prohibiting any amendments on the implementing legislation, and giving them an up or down vote. TPA passed with a mere 219-211 vote with only 218 needed to pass. The real shocker comes from the amount of money each ...
Capitalism Has Devolved Into Looting
Post Date: 2015-07-01 16:59:48 by Ada
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In the Western World Capitalism Has Devolved Into Looting …when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that your society is doomed. – Ayn Rand, “Atlas Shrugged” There’s no such thing as markets anymore – only interventions. – Chris Powell, co-founder and Treasurer of GATA Ayn Rand is a pariah among those who believe that government is our benefactor. There are times and conditions when government can be a benefactor of the people. But not in the ...
CLASSIC WHY: JUST ASKING—MEDIA OUTFOXED ON SPATE OF BIZARRE SHOOTINGS?
Post Date: 2015-07-01 16:31:51 by Ada
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In the US getting a gun is easy—but media reports on murder and mass shootings often fail to address lax gun laws as a contributing factor. Photo credit: Wikimedia Foundation In the US getting a gun is easy—but media reports on murder and mass shootings often fail to address lax gun laws as a contributing factor. Photo credit: Wikimedia Foundation Why has the mainstream media not delved into the deeper issues behind the recent shootings in Charleston? One of those issues concerns the ease of access to guns by the wrong people. Instead of promoting a national dialogue on the subject, the media has largely focused on the astounding forgiveness of the victims’ families. While ...
COMING TO YOUR BANK ACCOUNT ALSO - "Heartbreaking" Scene Unfolds At Greek Banks As Pensioners Clamor For Cash
Post Date: 2015-07-01 14:21:57 by HAPPY2BME-4UM
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1,000 Greek bank branches chanced a stampede in order to open their doors to the country's retirees on Wednesday. The scene was somewhat chaotic as pensioners formed long lines and the country’s elderly attempted to squeeze through the doors in order to access pension payments. As Bloomberg reports, payouts were rationed and disbursals were limited according to last name. Here’s more: It’s a day of fresh indignities for the people of Greece. About a third of the nation’s depleted banks cracked open their doors after being closed for three days. But all they did was ration pension payments, hours after the country became the first advanced economy to miss a ...
Good On You, Alexis Tsipras (Part 1)
Post Date: 2015-07-01 11:50:00 by Ada
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Late Friday night a solid blow was struck for sound money, free markets and limited government by a most unlikely force. Namely, the hard core statist and crypto-Marxist prime minister of Greece, Alexis Tsipras. He has now set in motion a cascade of disruption that will shake the corrupt status quo to its very foundations. And just in the nick of time, too. After 15 years of rampant money printing, falsification of financial market prices and usurpation of democratic rule, his antagonists—–the ECB, the EU superstate and the IMF—-have become a terminal threat to the very survival of the kind of liberal society of which these values are part and parcel. In fact, the ...
Don’t Believe the Unemployment Rate - It's actually 42.9%
Post Date: 2015-07-01 11:32:42 by Jethro Tull
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So, the government tells us the unemployment rate is just over 5%. These are the same people who told you “if you like your doctor, you can keep your doctor”… that the attack on the Libyan embassy was a “spontaneous protest of an Internet video” no one saw… bureaucrats who claim the cost-of-living is lower because you can substitute cat food for steak (hedonics), and that there has been no price inflation, therefore they don’t have to increase government checks for those dependent on them… yes, the very same people who told you it was “necessary” to give trillions of dollars to Wall Street and international banks to save the world… ...
Tsipras Surrenders to Troika Demands
Post Date: 2015-07-01 08:11:40 by Stephen Lendman
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Tsipras Surrenders to Troika Demands by Stephen Lendman Since becoming Greek Prime Minister in January, Tsipras proved he's like all the rest - promising one thing, doing another. Overnight Tuesday, his public posturing again proved hollow. After calling Troika demands "unacceptable" and urging Greeks reject them with a "resounding NO" in Sunday's plebiscite, he capitulated to most of what he previously opposed. Things remain fast-moving. Hours earlier, the Financial Times obtained a letter he sent Troika officials. It called his new proposal "a significant climbdown from his previous position." It destroyed what little credibility he had left. His ...
(CARTOON, WE ARE ALL GREECE AND JUST DON'T KNOW IT YET) - Greece Becomes First Developed Country To Default To The IMF
Post Date: 2015-06-30 22:18:50 by HAPPY2BME-4UM
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Faced with almost impossible choices... And just as promised earlier in the week, Greece has now passed the midnight deadline for repayment of the €1.6 billion bundled loans due to the IMF and in thus in default. Yes we are fully aware that using the pejorative term 'default' makes us members of the ignorati, but what else do you call it when you fail to pay back a contracted debt in a timely fashion? (and don't say 'arrears') Anything else is semantics. *IMF SAYS GREECE FAILED TO MAKE PAYMENT DUE TUESDAY*IMF TO CONSIDER GREEK REQUEST FOR PAYMENT DELAY IN DUE COURSE*IMF BOARD INFORMED THAT GREECE IS NOW IN ARREARS “I can also confirm that the IMF ...
Fed Examines Wealth Redistribution Program; Decides It's Not Worth It
Post Date: 2015-06-30 17:25:22 by HAPPY2BME-4UM
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For seven long years the Fed has aggressively defended a monetary policy regime explicitly designed to inflate the type of assets most likely to be concentrated in the hands of the wealthy. Despite the protestations of the man under whom these policies were implemented, the gap between the rich and everyone else has grown in post-crisis America. For evidence of this look no further than latest data on US household income, which shows that while the 0.001%, the 0.01%, the 0.1%, and the 1% have all nearly recovered their pre-crisis share of the national income, the bottom 50% of US filers' share is not only lower than it was in 2007, but is in fact lower than it was in the depths of ...
A new warning on many mutual funds and ETFs
Post Date: 2015-06-30 16:51:27 by BTP Holdings
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It's no secret that legendary bond investor Bill Gross has been calling for major pain in the financial markets, and some of his recent predictions – such as a jump in German bond yields – have already come true. Now, however, Gross is warning about something that might impact you more directly. In the investment outlook he sent out this morning, he writes: “Mutual funds, hedge funds, and ETFs, are part of the 'shadow banking system' where these modern 'banks' are not required to maintain reserves or even emergency levels of cash. "Since they in effect now are the market, a rush for liquidity on the part of the investing public, whether they be ...
Greece May Become BRICS Member
Post Date: 2015-06-30 07:39:18 by Stephen Lendman
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Greece May Become BRICS Member by Stephen Lendman In May, Russian Deputy Finance Minister Sergey Storchak invited Greek Prime Minister Alexis Tsipras to become the sixth BRICS member - joining Brazil, Russia, India, China and South Africa. At the time, Tspiras said he was interested - giving Greece access to its $100 billion capitalized New Development Bank (NDB), aiming to break Western dominance and become one of the world's leading lending institutions. It's headquartered in Shanghai - expected to begin operating in July, according to Russian Deputy Finance Minister Sergei Storchak. Indications are Russia and perhaps China are willing to help Greece financially. So far Greece ...
Worse Than the Supremes: Obamacare Economics
Post Date: 2015-06-29 17:03:04 by BTP Holdings
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Worse Than the Supremes: Obamacare Economics By Larry Kudlow | Friday, 26 Jun 2015 09:13 PM The judicial decision to uphold all of the president’s healthcare subsidies may be very disappointing, but the economics of Obamacare are far worse than whatever constitutional mistakes have been committed by the Supreme Court. The economics of Obamacare are very bad. The law is inflicting broad damage on job creation and new-business formation. It ruins job incentives by making it pay more not to work, thereby intensifying a labor shortage that is holding back growth and in turn lowering incomes and spending. And across-the-board Obamacare tax increases are inflicting heavy punishment ...
Let’s Dive Right Into the Three Hottest Currencies of 2015!
Post Date: 2015-06-29 16:56:05 by BTP Holdings
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Let’s Dive Right Into the Three Hottest Currencies of 2015! I wanted to personally welcome you to Wall Street Daily. We provide serious information for serious investors… every day. Our core belief: You can always find opportunity… regardless of the markets. And we live to guide our readers to that opportunity every day. In a moment, you’ll receive a confirmation email. It will provide details about your new subscription. Also, I promised you a FREE copy of my latest research report: Three Currencies Ready for a Huge Revaluation in 2015. You’ll receive that via email today, too. But why wait? Let’s dig into these currency opportunities right now! Simply ...
Greece Declares Bank Holiday, Capital Controls Imposed
Post Date: 2015-06-29 11:26:05 by Stephen Lendman
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Greece Declares Bank Holiday, Capital Controls Imposed by Stephen Lendman Fast-moving weekend events included an impasse in bailout talks, Greek MPs approving a July 5 referendum on whether to accept or reject greater Troika austerity demands, its refusal to extend bailout aid, and the ECB capping Greece's Emergency Liquidity Assistance (ELA) instead of cutting it off entirely as some media reported. Word is it'll decide day-to-day whether to lend insolvent Greek banks more funds to prevent their declaring bankruptcy and closing down altogether. Earlier, Greek banks could borrow through private markets. No longer with access cut off - dependent wholly on ECB funding. On Sunday, ...
The Fortune Cookie Knows
Post Date: 2015-06-29 06:48:38 by Ada
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I was feeling particularly low, having sunk into a sloppy, self-pitying, tequila- fueled, drunken introspection after (again) failing to achieve blissful Nirvana, this time per my wonderful new (“Why didn’t I think of it before?”) theory, which is to finally attain true transcendence through sheer, strict gluttony. Gloomily, as I sat, slumped, I burped, and, in a moment of blinding enlightenment, clearly saw that I was such a shocking, colossal failure at so, so many things. Including (paradoxically) any discernable skills on how to handle failure, for crying out loud, despite having had so, so much of it, which makes me think I am even MORE stupid than everyone thinks, ...
China to become biggest outward investor in 5ys – research
Post Date: 2015-06-28 22:38:41 by Tatarewicz
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RT... China is expected to become the world’s biggest overseas investor by 2020. Beijing’s global offshore assets will likely triple from $6.4 trillion, to more than $20 trillion by then, says research reported in the Financial Times (FT). Read moreGreat Waldorf of China: Beijing buys legendary NYC hotel for $2bn China will invest more in the developed West, much of the money come from foreign exchange reserves and portfolio investments, says joint research by Rhodium Group and Germany’s Mercator Institute for China Studies, the FT reports Friday. However, the share of China’s direct investment is also booming. In 2000-2014, Chinese businesses directly invested ...
EURO CURRENCY SHATTERING - Greece debt crisis: ECB 'to end' bank emergency lending
Post Date: 2015-06-28 14:21:41 by HAPPY2BME-4UM
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Cutting the ECB lifeline could push Greece out of the euro. Such an ECB cut would mean "Europe has failed", Mr Varoufakis told the BBC's World this Weekend. It would mean Europe had "failed in its duty to preserve in parallel a democratic process and a monetary union", he said. "It is a dark hour for Europe." An Athens ATM: The ECB has been sending cash so that Greek banks can continue to lend The European Central Bank is expected to end emergency lending to Greece's banks on Sunday, the BBC understands.Well-placed sources told BBC economics editor Robert Peston a decision to end the Emergency Liquidity Assistance (ELA) would be made by the ECB's ...
5 Financial To-Dos Before You Die
Post Date: 2015-06-27 12:01:53 by BTP Holdings
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5 Financial To-Dos Before You Die Posted on June 26, 2015 by Brad Hoppmann Suppose you went to your doctor one day, and he gave you some terrible news. The grim diagnosis is that of an incurable, untreatable disease that is fatal in 100% of cases. It could either kill you in an hour, or lie dormant for decades inside you and just suddenly appear — removing you from the world of the living. Suppose also that nothing you could do — no dietary changes, no aggressive workout regimen, no avoidance of risky behavior — could change the outcome. Undoubtedly, any sane person would regard this prognosis as possibly the worst news he or she could ever receive. But ask ...
To Die and Let Live
Post Date: 2015-06-27 11:49:19 by BTP Holdings
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To Die and Let Live Baltimore, Maryland June 27, 2015 Dear Reader, “[Free markets go] from crisis to crisis,” wrote Addison and Bill Bonner in Financial Reckoning Day, “from creative boom to creative destruction. From fully functioning, liquid markets to markets as frozen solid as the polar ice cap in the days before global warming… But now, in step the central banks. The boom is fine, they say, but we’ll put a stop to those nasty busts.” And here we are, seemingly on the edge of a currency crisis, but also staring at new, paradigm-shifting technology breakthroughs like “iCells.” How is it both outcomes seem simultaneously likely? The answer, ...
The Currency that May Replace the USD as Soon as this October
Post Date: 2015-06-27 11:20:27 by BTP Holdings
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The Currency that May Replace the USD as Soon as this October Global Reset “Imminent” Warns Acclaimed Author… It Could Happen as Soon as This October… The New Financial System Will Be Built on This… The U.S. government is on the verge of bankruptcy. They have run up a debt that cannot be repaid, and now must create new dollars to meet their obligations. In other words, they’re trying to fix the debt problem by inflating the currency. Of course, anybody with some common sense knows this won’t work. Renowned financial analyst and author of The Big Reset, Willem Middelkoop, says: “A system reset is imminent. There are only two options: a ...
Boom, Bust, Greece and a Road Map …
Post Date: 2015-06-27 11:17:29 by BTP Holdings
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Boom, Bust, Greece and a Road Map … Money and Markets | Saturday, June 27, 2015 at 7:30 am Here’s a quick, executive summary of stories from this abbreviated trading week, with a link to the full articles online. New Boom-Bust Cycle When the dust settles from each bubble-and-bust cycle, some people make fortunes. But millions of average hard-working people lose their jobs, sink deeper into debt, and even risk abject poverty. Martin D. Weiss examines today’s markets and tell you how to avoid the dangers and profit. Click here to read more. Market-Moving News That’s Not About Greece There’s been a surge of merger news as companies quietly go on doing the good ...
Jim Rogers: "When it ends, it will be very nasty."
Post Date: 2015-06-27 11:13:21 by BTP Holdings
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As you probably know, Jim Rogers is one of the most influential thinkers on Wall Street. Along with George Soros he founded the wildly-successful Quantum Fund, and has since gone on to head up another money management business under his own banner. But right now, Rogers is worried. Very worried. As he recently told a MarketWatch columnist: “This is the first time in recorded history that all the major world's central banks are printing staggering amounts of money. Now the world has this huge artificial ocean of liquidity. The people getting the money are having a wonderful time. But when it ends, it will be very nasty. “In the United States, we have had economic ...
Foreign investment in Israel down by near 50%: UNCTAD
Post Date: 2015-06-27 02:32:51 by Tatarewicz
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PressTV... Foreign investment in Israel has dropped by nearly 50 percent, a new UN report says, with the 2014 Israeli war on Gaza and international boycott efforts against the regime cited as key factors for the sharp decline. According to the World Investment Report 2014 by the United Nations Conference on Trade and Development (UNCTAD), which tracks changes in foreign direct investments worldwide, only $6.4 billion were invested in Israel last year in contrast to $11.8 billion in 2013, pointing to an almost 46-percent decline. The report further said Israel’s foreign direct investments (FDI) also plunged from $4.67 billion in 2013 to $3.97 billion last year, a 15-percent ...
Issues to be addressed in renminbi's internationalization
Post Date: 2015-06-27 00:47:37 by Tatarewicz
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Want... The renminbi was recently in the limelight due to developments concerning each country's investment and voting share in the Beijing-led Asian Infrastructure Investment Bank (AIIB) and the International Monetary Fund's review of its Special Drawing Rights basket of currencies. Since People's Bank of China governor Zhou Xiaochuan announced plans to internationalize the yuan in March 2009, the Chinese currency has become more widely accepted around the world for trade settlement and currency exchange. The latest data from the Society for Worldwide Interbank Financial Telecommunication showed that 31% of cross-border payments made between countries in the Asia-Pacific ...
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