ECONOMY | WHAT REALLY HAPPENED

ECONOMY

Sep 18 12:30

VIX Uprising

Sep 18 10:54

Raytheon to eliminate more than 15,000 jobs, citing airline downturn

Raytheon Technologies Corp. plans to eliminate more than 15,000 jobs this year at its corporate offices, jet engine-maker Pratt & Whitney and aviation and military equipment manufacturer Collins Aerospace amid a broad downturn in the airline industry.

Total reductions at the Waltham, Massachusetts-based company are nearly double the total it initially announced in July.

Sep 18 10:42

The $25BILLION empty vessel in the heart of Manhattan: Eerie photos show Hudson Yards has been all but abandoned amid New York City crisis - despite its luxury retailers reopening to customers

Hudson Yards, known as the most expensive real estate project in American history, lays all but abandoned amid the country's coronavirus pandemic.

The $25 billion complex, located on Manhattan's West Side, was once touted as the most exciting new attraction in New York City.

But just 18 months after its initial opening - and four years out from its expected completion date - the 18 million square foot development resembles a ghost town.

Sep 18 10:27

The End is Nigh...The Fed's Nonsense Will Soon End - RonPaulLibertyReport


This week the Fed decided that interest rates would remain artificially suppressed at zero, and stay there for years to come! Central planners always end up backing themselves into an impossible corner. The idea that a government-created central bank can plan the economy by price-fixing and counterfeiting currency is proving itself to be impossible.

Sep 18 08:35

Pound dips as Bank of England prepares for NEGATIVE interest rates if unemployment soars or second wave hammers the economy

The Bank of England will consider turning interest rates negative if the economy stalls in the face of soaring unemployment or a second wave of Covid.

Keeping interest rates on hold at 0.1 per cent today amid evidence that the economy is emerging well from the paralysis of lockdown, the Bank warned that the outlook was 'unusually uncertain'.

Minutes of today's monetary policy committee meeting show the Bank will in the following months consider the case for negative interest rates together with the Prudential Regulation Authority .

Sep 17 10:43

Soaking The Rich Will Drown Everyone Else

Sep 17 10:34

Hong Kong formally demands US drop ‘Made-in-China’ labelling regulations by Trump

A PAKISTANI minister has threatened India with a nuclear attack in "the bloody last war" and says only Muslims will survive.

Sheikh Rashid made the threat of nuclear war, claiming that Pakistan has very precise weapons which are “small and perfect” and are able to target specific regions.

Sep 17 10:26

Yelp Data: 60% Of Pandemic Closures Are Now Permanent

Yelp on Wednesday released its latest Economic Average Report, revealing business closures across the U.S. are increasing as a result of the coronavirus pandemic’s economic toll.

As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July.

In addition to monitoring closed businesses, Yelp also takes into account the businesses whose closures have become permanent. That number has steadily increased throughout the past six months, now reaching 97,966, representing 60% of closed businesses that won’t be reopening.

Sep 17 09:54

The 2020 Black Lives Matter Riots Are The Most Damaging Riots in U.S. History

The 2020 Black Lives Matter riots are the most damaging riots in US history, according to a new report citing insurance industry payouts which could exceed $2 billion.

Sep 17 07:57

The liquidity in the Ponzi scheme is plunging

Sep 17 07:17

No Rate Hikes Coming Despite Tech Bubble

Sep 17 05:27

A Warning of Economic Collapse

Sep 17 05:00

Why I'm Leaving California.

Sep 17 04:59

Second Stimulus Check Unlikely To Arrive Before Election: 'There’s Little Chance', Grassley Says

Frustrating negotiations over a fifth coronavirus stimulus package have been stalled in the Republican-controlled Senate since May, and now one GOP senator confirms Americans can't expect any federal relief until after election day.

Sen. Chuck Grassley, R-Iowa, said the chances of a new stimulus deal being signed before the Nov. 3 general election are remote and is blaming Democrats for the stalemate.

Sep 16 22:07

GDP results confirm NZ officially in first recession for 11 years

New Zealand is officially in its first recession for 11 years, a casualty of the Covid fallout hammering economies around the world.

This country's gross domestic product (GDP) shrank by a record 12.2 per cent in the June quarter as the Covid-19 lockdown and border closures stalled economic output.

It was the second successive quarter of negative growth - the technical measure of a recession.

*This is what Finance Minister Grant roberston said the day before, "These are signs that the New Zealand economy is robust," Robertson said this afternoon." So the Minister lied.*

Sep 16 15:08

YELP data shows 60% of business closures due to pandemic are permanent…

As of Aug, 31, 163,735 businesses have indicated on Yelp that they have closed. That’s down from the 180,000 that closed at the very beginning of the pandemic. However, it actually shows a 23% increase in the number of closures since mid-July.

Sep 16 09:25

Will Lagarde and Mnuchin Push Gold Higher?

Sep 16 08:07

IT’S GO TIME FOR GOLD! NEXT STOP $2,250

Sep 16 06:55

California's Governor Makes Ominous Prediction For America

California’s governor made a rather ominous prediction this weekend when he told an interviewer that “California is America. . . fast forward.”

He was talking specifically about the wildfires that have ravaged his state – a warning that the natural disasters that natural disasters will soon plague the rest of the country too, thanks to climate change.

But his comment should really be taken more broadly… because California really is a snapshot of America in the near future.

Just like America, there are a lot of incredible things about California. It’s home to some of the biggest, most ‘innovative’ tech companies in the world. It has a large, educated, highly skilled population.

Just by itself, the state is the 5th largest economy in the world. It’s a powerhouse. Or, at least, it should be. It has all the promise of America - Hollywood, Silicon Valley, sunshine, Disneyland, and endless possibilities… the place where dreams can come true.

Sep 16 06:52

WTO ruling on Trump's tariffs proves US broke international law – China

Beijing said that the World Trade Organization's ruling against the Trump administration serves as proof that the US violated international trade practices by imposing tariffs on Chinese goods.

China's Foreign Ministry spokesperson Wang Wanbin lauded the WTO ruling as "objective and fair."

The US politicians have repeatedly slandered China for failing to follow the rules, but the ruling has proven that it is the United States that really violates international regulations.

Wang added that the US "uses international organizations to serve its own interests," while Beijing upholds the WTO trade system and respects its rules.

China had filed a complaint with the WTO over the tariffs imposed by the US on Chinese goods. On Monday, the organization's dispute panel ruled that tariffs were "inconsistent" with its practices because the US did not present enough evidence to justify them.

Sep 16 06:51

Germany offers US billion-euro LNG investment deal to lift sanctions from Russia’s Nord Stream 2 gas pipeline – report

Berlin has offered to invest €1 billion in US liquefied natural gas (LNG) if Washington lifts sanctions against the Russia-led Nord Stream 2 gas pipeline project, newspaper Die Zeit reported on Wednesday.

According to the paper’s sources, Berlin is ready to invest in the construction of two terminals in Germany to receive American LNG. “In response, the United States will allow the unhindered completion and operation of Nord Stream 2,” Die Zeit said, citing a letter (sent on August 7) from German Vice-Chancellor and Finance Minister Olaf Scholz to US Treasury Secretary Steven Mnuchin.

Sep 16 06:48

Tech Investors Lever Up

Sep 16 06:33

California Cities Using Their Streets As Collateral To Pay Down Pension Liabilities With Debt

What happens when your state or city has massive unfunded pension liabilities, no direct access to the Fed's money printer and can't tax your state any further because you're driving people out in droves?

You take on more debt, using whatever you can think of as collateral.

Such was the case in West Covina this July, where the city is paying off its $205 million debt to CalPERS by issuing bonds using its city streets as collateral, according to Forbes. The city of Torrance has done the same thing; it will issue $350 million in bonds using its streets as collateral, as well.

Both cities are using something called "lease revenue bonds" which means that:

Torrance and West Covina are each using these bonds to, in principle, lease their city streets to a special Financing Authority, which will pay the city their up-front money, and “rent” the streets back to the city for the 25 year term of the agreement, in order to pay off the bonds.

Sep 16 06:32

Boeing Put Profits Before People's Lives By Hiding 737 MAX Design Flaws, Congress Finds

18 months after Ethiopian Airlines Flight 302 plummeted out of the sky just minutes after takeoff last March, Congressional investigators have finally released a comprehensive report outlining the many mistakes made both by Boeing and the FAA during the certification process.

In the months that have passed, investigators have kept the pressure on Boeing (and its share price) with a steady stream of leaks. We've already seen emails showing Boeing engineers criticizing the 737 MAX 8 design time in some of the harshest terms imaginable (at one point, one irate engineer complained that "the plane was designed by clowns, who were supervised by monkeys".

Sep 16 06:27

The US Dollar Collapse Is Greatly Exaggerated

Sep 16 06:27

Facebook Plunges On Report FTC Preparing Possible Antitrust Lawsuit By Year End

It's been a rough day for Facebook: first the world's biggest social network was dumped by Kim Kardashian who called on her tens of millions of global followers to boycott Mark Zuckerberg's cash cow, and now the WSJ reports that the FTX is preparing to file a possible antitrust suit against the company, sending its stock plunging after hours, and dragging the Nasdaq lower.

The report reveals that the FTC has spent more than a year investigating concerns that Facebook "has been using its powerful market position to stifle competition" and may file a suit before the end of the year to challenge the company's monopoly in social media. The inquiry is part of a broader antitrust effort by authorities examining the conduct of a handful of dominant tech companies.

Sep 16 05:53

Tesla Going Down? with John Grace

Sep 15 14:40

Debt is the Real Pandemic — Ron Paul

Unless Congress begins reducing spending, the coming economic crisis will be even worse. The logical place to start cutting spending is ending all unnecessary overseas commitments, corporate welfare, and shuttling down all unconstitutional federal agencies — starting with the Department of Education.

Sep 15 08:53

New York, Red State? Now This Group Begging Trump To Bypass Cuomo, DeBlasio 'Hell'

After Mayor Bill de Blasio and Gov. Cuomo did not respond or deliver results, New York City business leaders are asking President Trump to intervene and help them avoid bankruptcy.

Desperation prompted some restaurant, bar and business owners in general to gather outside City Hall on the morning of September 14, with an urgent message for city officials and president Trump.

Now, New York's major business groups are calling on President Trump to back funding for transit agencies and city and state budgets as part of stalled talks about the next coronavirus aid package.

Sep 15 08:29

NYC is in big trouble

Sep 15 08:24

Robin Hooders are buying the dip. No fear

Sep 15 07:29

Q3 US GDP On Track For 31% QoQ!

Sep 15 06:43

Massive Lines Form Outside Virginia Food Bank As Demand Hits One Million Meals Per Month

The economic recovery has stalled, and in some cases, reversed. The $600 unemployment benefits that Americans received following the virus pandemic that crashed the economy in March-April expired on July 31, which means a fiscal cliff has been underway for 44 days (as of Sept. 14).

Millions of people are still out of work, their emergency savings wiped out, and insurmountable debts are increasing. As former Federal Reserve Chair Janet Yellen warned in August, Congress' inability to pass another round of stimulus checks could weigh on the economic recovery.

Readers may recall about a quarter of all personal income is derived from the government - so when a lapse in stimulus checks extends for well over one month - that could lead to new consumer stress.

Sep 15 04:38

'Say I Apologize to The Black Queen!' Black Panther Group Filmed Terrorizing Small Businesses in VA

A Black nationalist group has filmed themselves terrorizing small businesses in Portsmouth, Virginia over the past several weeks -- seemingly without any repercussions.

Sep 14 22:21

Ron Paul: Debt is the Real Pandemic

Sep 14 12:29

The rise and rise of negative interest-rates

Sep 14 06:55

China Dumping USD For Real Stuff NOW. Gold & Silver UNSTOPPABLE | Alasdair Macleod

Sep 14 06:22

"I've Never Seen Anything Like This": Shippers Using West Coast Ports Can't Book Rail On BNSF And Union Pacific

A Northern California logistics consultant was unable to book containers on the Burlington Northern Santa Fe (BNSF) or Union Pacific (UP) railroads for the first week of September going to and from U.S. West Coast ports and Midwest destinations.

The consultant said, “I have been working in the industry for thirty years and I have never seen anything like this. It’s weird.”

The result is that importers of low value products being shipped by containers such as tee shirts would be at an economic disadvantage transporting containers by truck as opposed to by rail between U.S. West Coast ports and Midwest destinations, because of the higher cost.

The consultant explained that there is a huge shortage of rail capacity: “There are no rail cars and there are no chassis.”

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