Bitruble, a new Russian cryptocurrency, will be issued and circulated under control of Russia's Central Bank. It is expected to compete with Bitcoin and other cryptocurrencies.
Finnish Prime Minister Juha Sipilä insisted shortening annual holidays from 38 to 30 working days, halving overtime pay rate increases, cutting Sunday work bonuses, and reducing sick leave pay—are “indispensable” to getting the economy back on track. 30,000 protesters gathered in the nation’s capital of Helsinki.
The decision by the US Federal Reserve not to raise interest rates has increased international market concerns about the health of the global economy. A broad market selloff followed around the world.
Zhang Xiangchen highlighted China’s ranking as the world’s third largest investor for three years in a row, while noting that it is the first time export and import levels are balanced.
Minister Naoto Kan said Wednesday that Japan needs to seek a nuclear-free path. It doesn’t make sense economically, and enough energy can be provided without it.” Japan has seen an increase of renewable energy since the Fukushima accident, especially from solar panels.
According to a recent Gallup poll published this week, the pharmaceutical industry is one of the most hated industries in the United States. Also topping the list are the federal government and the oil company cartels.
Main purpose behind using BOSS is to make Indian IT machinery hack-proof, it will also aid towards scaling down the country-wide use of Microsoft Windows in government offices.
The Reykjavik municipality passed the motion, which approved a boycott of Israeli goods “as long as the occupation of Palestinian territories continues. Israel’s Foreign Ministry condemned the move.
Russian President Vladimir Putin: This year, we have seen an increase in the production of dairy, meat and fish products - by 26 percent, five percent and six percent respectively. Russia is ready for cooperation in import substitution with Kazakhstan and other countries from the Eurasian Economic Union.
China has already dumped a record total $107 billion in US Treasurys in 2015 to offset what is now quite clear capital flight from the mainland, and the most aggressive attempt to keep the Renminbi stable."
Central banks around the world continually increase the supply of ultra-cheap money—the US Federal Reserve pumped out more than $4 trillion—to finance the speculation and parasitism of banks and finance houses. These measures have done nothing to alleviate the crisis. On the contrary, they have created the conditions for another disaster.
Former Fed chief Alan Greenspan: Debt, deficits and entitlement programs are all coming to a head in a few months, all over the world. European chief executive of Goldman Sachs Asset Management warns: There is too much debt and this represents a risk to economies. Bank of International Settlements (BIS) – known as the “Central Banks’ Central Bank” writes: We are not seeing isolated tremors, but the release of pressure that has gradually accumulated over the years along major fault lines
European Central banks keep demanding the return of their gold bullion from the vaults of the Federal Reserve Bank of New York, reducing the gold stockpile kept under the streets of Manhattan to its lowest level in decades; US supplies rapidly becoming depleted.
The government will reduce 26 billion reais ($6.8 billion) in expenditures from next year’s budget; capping salaries of civil servants and suspending exams for new entrants. Brazil also plans to raise 28 billion reais in revenue by boosting taxes, including a levy on financial transactions.
Israeli dates grown on illegal settlements in the Jordan Valley.
Israeli wines — Israel produces over 40 million bottles of wine a year.
Pastures of Eden feta cheese found in Trader Joe’s.
Tribe hummus owned by Strauss Group and Osem, one of Israel’s largest food corporations.
The reason Petro Poroshenko is waving his fist at Russia is simple. He’s being told to, and his interest in Ukraine has been profit all along. The old world banking family that funded every war Europe has had since 1800, is also hedging bets in Ukraine. Debt works for Rothschild Inc. no matter what happens.
The Chinese and the Indian have been buying in enormous quantities. It’s virtually impossible to get physical gold in London. A-Mark, one of the world’s largest wholesalers reporting that they have no gold and silver at all available, have stopped taking orders for Silver Maples.
Thousands of people are taking part in another large anti-corruption protest in the Moldovan capital, Chisinau. There have been reports of clashes between rival groups. Protesters demand the government's resignation and early elections over a $1bn (£655m) bank fraud.
During the past few years, members of China's economically privileged elite have been buying up luxury real estate in places like Manhattan and London. When US elites begin to acquire real estate abroad, like rats fleeing a sinking ship, it's probably a sign that they've taken a dim view of the country's enduring viability.
More Americans renounced their citizenship and terminated their long-term residency in the first three months of the year than ever before, courtesy of the crackdown in foreign tax rules.
Over the past month, the world has been gripped by a proliferation of crises—economic, geopolitical, social—erupting on a daily basis. Rule, both right and “left,” are collapsing under the pressure of unprecedented levels of social inequality and mounting popular anger and discontent.
During a recent meeting with former Brazilian leader Luiz Inacio Lula da Silva, Argentina's President Cristina Fernandez de Kirchner asked him to help her country join the BRICS group, which currently includes Brazil, Russia, India, China and South Africa.
In the age of finance capital profit making is largely divorced from real production and employment, as it comes mostly from speculative investment, or through parasitic extraction from the rest of the economy.
China consumes 54% of aluminum, 48% of copper, 50% of nickel, 45% of all steel, and 60% of concrete, more concrete in the last three years than the United States did in all of the 20th century. Uses 49% of coal, 12% of oil, 30% of rice, 17% of wheat.
43.5 million ounces of gold open interest and the record low 351,519 ounces of registered gold imply that as of Friday's close there was a whopping 123.8 ounces in potential paper claims to every ounces of physical gold.
According to data published by the Bureau of Labor Statistics, government jobs now outnumber manufacturing jobs. Almost 22,000,000 people work for local, state, and federal agencies, compared to 12,329,000 workers in the manufacturing sector.
Update: *MOSCOW EXCHANGE PREPARING TO RESUME TRADING W/BACKUP EQUIPMENT. *MOSCOW EXCHANGE SAYS TRADING HALTED IN ALL MKTS. *MOSCOW EXCHANGE SAYS CHECKING ON REASONS FOR GLITCH.
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.
China and Russia plan to broaden their cooperation of the development of Russia’s Far East region, China’s Xinhua state-run news agency reported in a bid to dispel concerns over Sino-Russian ties amid the economic downturn.
The Russians have categorically refused to restructure the debt. The Ukrainians are now saying that if the Russians won’t restructure it, they will default on it.
The United Nations is posting a new environmental warning: the world is running out of time to prevent the gradual degradation of the world’s oceans and widespread destruction of marine life, delays in implementing solutions to problems identified as threatening to degrade the world’s oceans will lead, to greater environmental, social and economic costs.
So far the state has earned over $150 million from the 30% tax on pot. According to a 1992 amendment to Colorado’s constitution called the ‘Taxpayer Bill of Rights’ when the state earns more than they anticipated from a given industry, they have to return the difference, $50 million to the people.
According to the Obama administration, more than 94 million working age Americans are “not in the labor force”, and so they don’t count as being unemployed. Labor force participation rate stayed stuck at 62.6 percent, a 38-year low.
Democratic candidates Hillary Clinton and Bernie Sanders have called for raising the federal minimum wage, while the Obama administration has made much ado about a set of trivial changes to miscellaneous work rules that it claims will significantly benefit low-income workers.
The two countries have expanded cooperation in oil, gas, post services and other areas during the visit of President Putin to China.
Central banks of foreign countries resumed the withdrawal of their gold reserves from the US Federal Reserve, according to the last report by the Fed reserve. Amid the ongoing global crisis, trust in the US Federal Reserve is waning.
Global stock markets staged yet another selloff Tuesday following the release of negative economic data in the US and China and downbeat assessments of the global economy from officials at the Federal Reserve and International Monetary Fund.
Thousands of business people and major investors from Russia and the Asia-Pacific region will be taking part in the Eastern Economic Forum to be held in Russia’s Far Eastern city of Vladivostok from September 3-5.
Hedge funds are profiting off of struggling families in Baltimore by buying up debts as small as $250, charging high interest rates, and taking their homes when they fail to pay. Baltimore now has growing homeless population and vacant homes.
China has bungled its attempt to slow the economy gently and is sliding into “imminent recession”, threatening to take the world with it over coming months, Citigroup has warned.
With all the differences between Russia and China, the countries face common development targets, such as changing the structure of the economy to favor high-technology sectors, Vladimir Putin said in an interview to Chinese and Russian media.
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries. This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.
The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency. This will give them easier access to capital markets and insulate them from financial manipulation by Washington and Wall Street.
Reason for the turnaround in global stock markets was not hard to find. New York Times: “Once again, the Federal Reserve helped save the day for investors” who were “inspired by soothing words from an influential Fed policy maker.” By “soothing words,” the Times means the promise of further infusions of cash into the financial system, which has fueled the continual rise in equity prices.
In just the last two weeks China has cut its holdings of US government bonds worth around $100 billion. Beijing justified the step as a measure to support the yuan. However, the move can also be viewed as a clear warning to the United States,
Media sources in Venezuela have claimed that a state-run supermarket offering subsidized goods, recently witnessed a stampede of desperate customers. The military was called in to quell the crowd, which numbered in the thousands. Throughout the ordeal, 75 people were injured and one 80-year-old woman was trampled to death.
The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended.
CNN is the expert on propaganda that serves the U.S. government’s agenda… and right now, they don’t want you to worry just like they didn’t in 2008…
Gold for December delivery at the New York COMEX exchange rose 8.4 dollars, to $1,131.1 a troy ounce. Silver for December delivery increased 0,65%, that is 14.17 dollars an ounce.
The Chinese regime is under international pressure to accelerate its pro-market reform agenda, including privatisation of state-owned enterprises (SOEs) and the further liberalisation of the financial sector to open up new profit opportunities for foreign investors. Such measures heighten the social gulf between rich and poor and provoke wider social unrest.
A computer glitch is preventing hundreds of mutual and exchange-traded funds from providing investors with the values of their holdings, complicating trading in some of the most widely held investments, hinder[ing] investors’ ability to trade accurately in and out of popular investment vehicles.
At a time when the oil price is at its lowest for decades, producers need to find half a trillion dollars to repay their debt to investors. The oil and gas industry is facing an upheaval of epic proportions as producers, who don't have the large cash reserves to survive, will sink into unsustainable — and unrepayable — debt.
China’s Rate Cuts Will Stop The Crash. It’s Not A Crash, It’s Just The End Of A “Market Cycle.”The Fed Will Never Raise Rates. Get Ready For QE4. It’s Not As Bad As It Seems.
A top official of the Federal Reserve Board broadly hinted Wednesday that the US central bank, contrary to previous indications, would not begin to raise its benchmark interest rate at the September meeting of its policymaking committee.
President Rafael Correa; it costs the OPEC nation $39 to produce a barrel of oil for which it only receives $30. Ecuador produces 538,000 barrels a day and under current circumstances stands to lose up to $3 million a day on them, state-owned Petroecuador oil company says it was profitable for the first half of 2015 because oil averaged $47 a barrel.
"What happens when China liquidates all of its Treasury holdings is anyone's guess, and an even better question is will anyone else decide to join China as its sells US Treasurys at a never before seen pace, and best of all: will the Fed just sit there and watch as the biggest offshore holder of US Treasurys liquidates its entire inventory…
The Western media paints the prospects of the BRICS grouping (Brazil, Russia, India, China and South Africa) in dark colors, predicting its hard days and inevitable demise but Russian experts say these predictions have nothing to do with reality. They say that a deliberately planned information campaign is underway.
Ignoring the current western sanctions against Russia, many European aircraft makers readily accepted an invitation to take part in the MAKS-2015 international air show that launches outside Moscow on Tuesday and will run through Sunday.
18 months since Colorado became one of the first states to legalize marijuana. Though opponents of the measure predicted doom and gloom scenarios, the end of pot prohibition has not resulted in apocalyptic disaster. Legalization of cannabis has been a boon to Colorado financially with an expected one billion in sales by 2016 and $40 million in excise taxes to be placed in state coffers.
In our Matrix existence, the stock market decline is not due to corporations using their profits, and even taking out loans, to repurchase their shares. Why would a slight adjustment in the yuan’s exchange value to the dollar cause the US and European stock markets to decline? It wouldn’t.
The dramatic collapse of the Shanghai stock exchange has been presented to public opinion as the result of a spontaneous “market mechanism”, triggered by weaknesses in China’s economy. It distorts the workings of stock markets which are the object of routine speculative operations.
US stock markets plunged following an early rally Tuesday, with the Dow Jones industrial average plummeting 600 points from the day’s peak to close down 205 points, or 1.29 percent. A Financial Times headline summed up the day’s events succinctly: “Wall Street recovery turns to dust.”
The Shock Doctrine; manufactured crises are used to justify further consolidation of power, a"crash" engineered to set up a buying opportunity for insiders.
Chinese stocks tumbled again Tuesday after their biggest decline in eight years while most other Asian markets rebounded from a day of heavy losses. Dow Jones industrial average ended down 3.6 percent European markets were also hit badly.
The People’s Bank of China has lowered its interest rate for the fifth time since November boosting European and US stocks higher in Tuesday's trading. The one-year lending rate has been reduced by 25 basis points to 4.6 percent, which is record low for China.
United States is set to exceed its $18.1 trillion debt limit by mid-November or early December. “If the debt limit is not increased, the Treasury will not be authorized to issue additional debt that increases the amount outstanding. That restriction would ultimately lead to delays of payments for government activities, a default on the government’s debt obligations, or both,” the Congressional Budget Office reported.
World stock markets continued to plummet Monday, fueled by another steep decline in Chinese shares and concerns over a marked slowdown in the world’s second-largest economy and turmoil in emerging market economies.
To the capitalist, everything is a potential market: education, health care, even the right to water. But with every market failure, it becomes clearer that basic human rights can't be bought and sold like cars and cell phones. The pursuit of profit, when essential needs are part of the product, means that not everyone will be able to pay the price. Some will be denied those essential needs. The capitalist profit motive allows the cost of a hepatitis pill that costs $10 in Egypt to sell for $1,000 in the United States, and the cost of a blood test to range from $10 to $10,000 in two California hospitals (a 100,000% markup at the second hospital).
More than 40 countries have expressed interest in creating a free trade zone (FTA) with the Eurasian Economic Union (EAEU), the Russian Economic Development Minister Alexey Ulyukayev said Monday at the East Asia Summit (EAS).
The global panic, which has wiped out over a trillion dollars in stock values in the US alone, has shattered the claim that the US and world economies are in the midst of an economic recovery. What appears to be coming to an end is the period when massive infusions of cash by central banks into the financial markets, combined with a ruthless assault on the living standards of the international working class, could paper over the systemic character of the crisis and produce a boom in stock prices, corporate profits and the wealth of the financial aristocracy—even as the real economy continued to stagnate.
In order to resolve the current refugee crisis, European governments should reconsider their foreign policy and force allies of the United States to end global economic wars. The war should be prevented by those who instigate it, otherwise the world will face dark times in the future, DWN wrote.
At the opening bell on Wall Street the Dow Jones Industrial Average plummeted as much as 1,000 points in the first minutes of trading. Later it corrected to 485 points down or around three percent.
The great global deflation and capital goods depression now unfolding, negative economic news will now be seen for what it is—–a confirmation that the great 20-year central bank driven bubble is over, and that inflated incomes and profits will be coming back to earth.
Unprecedented slowdown in world trade volumes, likely to unleash yet another global recession."
Third consecutive week of falling freight rates on the world’s busiest route and rates are now nearly 60 percent lower than three weeks ago.
“The U.S. federal government is bringing in more money in taxes than ever before. Over $2.67 trillion has come in so far this fiscal year, according to the latest Treasury Department report. That’s a record. The burden has shifted from companies to individuals. In the early 1950s, corporations accounted for over 30% of U.S. tax revenues. Today, businesses pay about 11% of taxes, according to the U.S. Treasury.”*
Credit card machines busy at high-end retailer Nordstrom’s (sales up 5 percent)... home ownership rate has fallen to 63.4 percent, the lowest in almost fifty years despite some of the most attractive mortgage interest rates on record.
The new elections are part of a political conspiracy involving both Syriza and the newly formed Popular Unity Party to impose unpopular austerity measures.
In bid to ram through austerity package, Tsipras calls snap elections in Greece
A large group of migrants, who have been prevented from entering Macedonia from Greece for the past week, overwhelmed border guards on Saturday afternoon, causing multiple injuries in the process.
Biggest slowdown in Chinese manufacturing in 6yrs.
In the US, Wall Street had its biggest one-day drop in four years on Friday leaving the Dow industrials more than 10 percent below a May record.
The global stock market sell-off that began last week with China’s surprise decision to devalue its currency escalated on Thursday and Friday in a wave of near-panic selling, plunging markets from Asia and Europe to the US and Latin America into negative territory for the year.
While US interventionists continue to promote a collection of policies that have repeatedly failed, China and Russia are acting as a magnet for forces of "the rest" aiming to build an entirely new economic infrastructure.
The 'Asset Development Plan' for Greece is out and it's all go for the privatization of the country. Hellenic sea ports, air ports, motorways, petroleum companies, water and gas supply, real estate, holiday resorts - it's all for sale. Debt laden Greece has been forced to sell the family silver in an all too familiar tale with ancient history repeating itself. The Hellenic Public Asset Development Fund has been published by German Green MEP Sven Giegold who said the Greek people "hardly know" what will be sold off and that they have "the right" to know.
Wall Street opens lower amid heavy selling across Asia-Pacific and European markets as new data deepens concerns about China’s spluttering economy
A succession of devaluations in China's yuan focused attention on the country's weakening economy. A succession of devaluations in China’s yuan focused attention on the country’s weakening economy.
Sunrise Globe Earth Planet Space - Public DomainWe witnessed something truly historic happen on Friday. The Dow Jones Industrial Average plummeted 530 points, and that followed a 358 point crash on Thursday. When you add those two days together, the total two day stock market crash that we just witnessed comes to a grand total of 888 points, which is larger than any one day stock market crash in U.S. history.
The 'Asset Development Plan' for Greece is out and it's all go for the privatization of the country. Hellenic sea ports, air ports, motorways, petroleum companies, water and gas supply, real estate, holiday resorts - it's all for sale. The selling of Greek assets to raise $56 billion (€50bn) was demanded by Greece's creditors, the Troika
Global stocks plunged Thursday as fears of a world economic slowdown mixed with concerns over a destabilization of global exchange rates and mounting geopolitical tensions. US stocks staged their sharpest one-day selloff since February 2014, hitting six-month lows and wiping out all their gains over the past year.
Venezuela’s currency, the Bolivar, has nose-dived and has now reached a point where it’s worth less than a penny on the US dollar. A year ago, 82 bolivars were equal to one US dollar. Now, over 670 bolivars are equal to the US dollar. Extreme inflation rate and drop in oil prices are taking a toll on the Venezuela’s economy.
Administration of then-Gov. Jeb Bush in 2005 and 2006 put the Wall Street investment bank in charge of $250 million worth of pension funds for Florida cops, teachers and firefighters. Lehman would capture more than $5 million in fees on these deals, while gaining additional contracts to manage another $1.2 billion of Florida’s money. 2008, Lehman collapsed into bankruptcy, leaving Florida $1 billion in losses. In 2007, as he left office, Bush secured a job as a Lehman consultant for $1.3 million a year.
Major role played by the Big Banks in military warfare as well as financial warfare with a close relationship to the policies and assaults by the Pentagon and NATO. In early August, Goldman Sachs appointed NATO’s former Secretary General Anders Fogh Rasmussen as a financial consultant. Over the last five years (2009-2014), Rasmussen was actively involved in coordinating NATO’s humanitarian bombing raids in the Middle East not to mention NATO military deployments on Russia’s doorstep in Eastern Europe, the Baltic States and the Black Sea. During his stint as Prime Minister of Denmark (2001-2009), Rasmussen was involved (under a neoliberal policy agenda) in dismantling Denmark’s welfare state alongside the privatization of state assets.
It appears some are finally waking up. Correction: three of the Fed's 12 presidents are now Goldman Sachs alums. NY, Dallas and Philly. 25% from one bank. Amazing. Others, broadly disparaged by the "some" as "conspiracy theorists", have known all of this for a long, long time.
Seven years after the Wall Street crash of September 2008, fears are growing within ruling circles internationally that the world capitalist economy, far from recovering, is descending into depression. There is increasing speculation as to where the next financial meltdown, triggering a collapse in trade and production, will occur.The very countries previously touted as the “engines” of world economic growth following the 2008 recession, China and the so-called “emerging market” economies, are now seen as the places most likely to spark a new global downturn.
In the United States, only about 13 percent of U.S. workers have access to any form of paid family leave. With the idea of paid maternity leave gaining traction as a means of recruiting workplace "talent" or used as a talking point on the campaign trail, an In These Times investigation published on Tuesday reveals the sad reality for millions of U.S. families.
The Japanese report followed a wave of negative data pointing to sharply slower growth in China and last week’s surprise devaluation of the renminbi.
THERE ARE some things that no Australian politician would ever publicly oppose. Motherhood. Democracy. Friendship. Economic efficiency. These days, economic efficiency probably ranks higher than the other three in politicians' scale of values. But what is it?
Just hours after the PBOC announced a modestly “revalued” fixing in the CNY, which curiously led to weaker trading in the onshore Yuan for most of the day before a forceful last minute intervention by the central bank pushed it back down to 6.39…
The toxic spill began Aug. 5 when an EPA contractor accidentally ruptured a wall holding back millions of gallons of wastewater containing a variety of toxic substances such as mercury and lead at a closed gold mine in Colorado.
Wisconsin Governor Scott Walker, seeking the Republican nomination for president, is receiving some criticism for his decision to support a new basketball arena after cutting funds for the state’s university system.
What Is Going To Happen In September - Public DomainWhy does the Russian media seem to be far more on the ball than the mainstream media in the United States much of the time? Could it be possible that Russian reporters have more freedom to talk about important issues than reporters that work for the major corporate conglomerates in the United States do? Of course the Russian media is far from perfect. They put out pro-Russian propaganda just like the U.S. media puts out pro-American propaganda. But I must admit that I often find that Russian news sources are willing to tackle controversial issues that the mainstream media in the United States would not touch with a ten foot pole. This includes the critical events that are coming up this September.
Machine-maker DE-STA-CO said it was moving 100 jobs to Tennessee. The next day energy processor Bunge North America said it was shutting down its plant in Bradley, Illinois, and laying off 210 workers. The day after that General Mills pulled the plug on its manufacturing plant in West Chicago, terminating 500 workers. A week later Mitsubishi Motors announced it was closing its production facilities that made its Outlander, ending 918 jobs there,
Most of these stock market crashes are occurring in nations that are known as “emerging markets”. In recent years, developing countries in Asia, South America and Africa loaded up on lots of cheap loans that were denominated in U.S. dollars. But now that the U.S. dollar has been surging, those borrowers are finding that it takes much more of their own local currencies to service those loans. At the same time, prices are crashing for many of the commodities that those countries export. The exact same kind of double whammy caused the Latin American debt crisis of the 1980s and the Asian financial crisis of the 1990s.
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