"Give a small number of people the power to enrich themselves beyond everyone's wildest dreams, a philosophical rationale to explain all the damage they're causing, and they will not stop until they've run the world economy off a cliff.""Wall Street is not being made a scapegoat for this crisis: they really did this."It has become a machine for transferring income, wealth, ownership, and power to the top..
Russia’s Security Council Secretary Nikolai Patrushev has chaired a meeting on import substitution in the defence industry and aircraft engine building held in St Petersburg. "The meeting focused on prospects for national sovereignty in the manufacturing of current and perspective aircraft along with issues related to an unhindered operation of state-run aviation in the Russian Federation," the Security Council’s press service said.
Hundreds of tractors could be seen by drone-camera, as they gathered at the Greek side of the Greek-Bulgarian border, near the town of Serres, Friday., …
The city’s government continues to charge people for the poison water, threatening to foreclose their home or take their children if they refuse to pay. Michigan law states parents are neglectful if they do not have running water in their home, and if they chose not to pay for water they can’t drink anyway, then they could be guilty of child endangerment. Flint residents have recently filed two class action lawsuits calling for all water bills since April of 2014 to be considered null and void because of the fact that the water was poisonous.“Essentially, residents have been getting billed for water they cannot use. Estimates it could take 15 years, $60 million to fix the problem, Despite the fact that the issue is obviously the government’s responsibility, they have made it illegal for people to sell their homes because they are known to carry contaminated water. Residents left to purchase bottled water on their own, in addition to paying their water bill.
France is going to assist in lifting sanctions imposed by the West on Russia by summer this year, Emmanuel Macron, France’s Minister of Economy, Industry and Digital Affairs, has announced. French economy minister is now in Moscow heading a French delegation attending a session of the French-Russian council on economy, finance, commerce and trade matters, which will take place on Monday, for the first time since 2013. The French embassy in Russia has said that the realization of a number of joint projects in energy, space, transport and other spheres is still to be discussed.
Russian President Vladimir Putin has urged the West to stop increasing the worthless money supply, saying that increasing the volume of money in circulation is “very dangerous. “Increasing the money supply infinitely and uncontrollably is very dangerous. This may lead to the effects that are not visible at first, but they will surely come if we act carelessly; regulatory authorities should promote conditions for normal business activities, instead of collecting fines..
According to the head of Russia's Central Bank, oil exports as a share of Russia’s total goods exports have went down to 48 percent in December last year with the country's economy slowly shedding it's dependence on oil prices. The dependence of the Russian economy and the national currency's exchange rate on oil prices is gradually decreasing, however, there is a need to further diversify the country’s economy to continue this trend, the Russian Central Bank head said Friday.
MSCI All-Country World Index has fallen a total of more than 20 percent from the peak of the market. So that means that roughly one-fifth of all the stock market wealth in the entire world has already been wiped out. This new round of chaos began last night in Asia. Japanese stocks were down more than 600 points and Hong Kong was down more than 700 points. The nightmare continued to roll on when Europe opened, and European stocks ended up down about 3.2 percent when the markets over there finally closed. In the U.S., the Dow had fallen 566 points, but a curious rebound resulted in a loss of only 249 points for the day.
Amid a crippling six-month-long state budget impasse and plans to lay off several thousand Chicago teachers, Illinois Republican leaders Christine Radogno and Jim Durkin announced plans Wednesday to introduce legislation that would permit Chicago and its school district to file for bankruptcy. The bills are backed by Republican governor of Illinois and hedge fund billionaire Bruce Rauner.
Asylum seekers in Bavaria must first transfer their assets to the regional government before they can become eligible for state support, Bavarian Interior Minister Joachim Herrmann confirmed in an interview published Thursday. According to the minister, the Bavarian authorities are entitled to seize any cash and property belonging to migrants in excess of 750 euros (some $820)..
New law coming this April, one that will see any non-European Union citizens in the U.K. earning less than £35,000 ($49,960) a year deported after five years in the country. The law comes as part of a new package intended to slash migration levels in the U.K., and will also see the country become a lot harder to get into professionally
The collapse of the Russian ruble against the US dollar continued for a second day on Thursday. The currency fell below 85 rubles, setting a new all-time low against the greenback. Wednesday's plunge took the ruble below the Black Tuesday currency crash of 16 December 2014, when it fell to 80 rubles against the dollar and 100 against the euro.
In addition to preventing Libya from breaking away from French monetary domination, Sarkozy wanted to “gain a greater share of Libya oil production,” increase French influence in North Africa and dash Gaddafi’s “long term plans to supplant France as the dominant power in Francophone Africa.”
As Monsanto continues to lose favor worldwide, resulting in plummeting profits, the organic food industry continues to expand. Growing awareness of their health benefits, combined with increased availability, has given a boost to the sales of organic foods, which are grown without the use of chemical pesticides or fertilizers.
Our reality is carefully constructed by powerful corporate, political and special interest sources in order to covertly sway public opinion. Blatant lies are often televised regarding terrorism, food, war, health, etc. They are fashioned to sway public opinion and condition viewers to accept what have become destructive societal norms; manipulating and controlling public opinion with distorted media messages has become so common that there is a whole industry formed around this.
“The gap between rich and poor is reaching new extremes,” “The richest 1 percent have now accumulated more wealth than the rest of the world put together; wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years.”Wealth trickles up, not down, richest individuals use a system of global tax-avoidance schemes to avoid paying taxes to their governments; elaborate system of tax havens and wealth managers ensure that it stays there.
Police fired tear gas and clashed with protesters demanding jobs in the impoverished Tunisian city of Kasserine on Wednesday, as smaller demonstrations broke out in the capital and at least eight other towns. Large crowds burned tyres and chanted "Work, freedom, dignity" during a second day of demonstrations that erupted in the central city after an unemployed man killed himself, apparently after he was rejected for a job.
DISRUPTIVE labour market changes, including the rise of robots and artificial intelligence, will result in a net loss of 5.1 million jobs over the next five years in 15 leading countries, according to an analysis published in Davos. The projection by the World Economic Forum (WEF), which is holding its annual meeting in the Swiss ski resort this week, assumes a total loss of 7.1 million jobs, offset by a gain of 2 million new positions..
US markets dropped even more early Wednesday after oil plunged to its 2003 low of $27 a barrel. Massive sell-offs continued through all the stocks led by the energy sector.
The country's GDP sits at 6.9 per cent, after years spent in the double digits, Its slowdown has caused shockwaves across European and Asian markets.The IMF has now cut its growth forecasts for the third time in a year. China's production has been major driver of the international economy; but it is trying to shift its economy's emphasis from exports to services.
The penalties will range from a minimum of $700 for an individual to as much as $10,000 for a family of four, depending on income. The average penalty in 2016 will be $969. That’s a 47 percent increase from last year.,The penalties are either 2.5 percent of household income (up to a cap) or $695 a person and $347.50 per child, whichever is higher.
Human Rights Watch has called on companies to end their businesses in illegal Israeli settlements and not to facilitate Israel’s violations of international humanitarian law..The New York-based group said in a report released on Tuesday that businesses should stop operating in, financing, servicing, or trading with settlement-related “activities that contribute to and benefit from an inherently unlawful and abusive system that violates the rights of Palestinians.
Russia will start supplying Su-35 fighter jets to China in the 4th quarter of 2016, a military-diplomatic source told TASS on Friday. Russia and China signed a contract on delivering 24 Su-35 fighter jets worth at least $2 billion to Beijing
Amid growing global economic gloom, including a slowdown in China and falling oil and commodity prices, major companies throughout Europe are announcing mass layoffs and job cuts.
MOSCOW (AP) — The Russian ruble, battered by weak oil prices, on Monday fell to an all-time low against the euro and dropped to its lowest level in more than a year against the dollar. Oil, the mainstay of the Russian economy, recently plummeted to under $30 a barrel, a 13-year low. The ruble is also under pressure from economic sanctions that the West imposed on Russia.
According to the official data from Beijing, the world's second-largest economy grew 6.9 percent in 2015 against 7.3 percent in 2014. This is the worst result for China since 1990.
institutions of global governance, especially the ones that have actual power, have historically been controlled by the United States – this bank marks a departure from that trend.
Heads of International affairs of Iranian banks have gathered in Iran’s Central Bank building. They discussed actions they have to take after the implementation of Iran’s nuclear deal to be able to show a proper response to an expected surge of foreign banks that are going to start cooperation with the Islamic Republic.
Newly appointed economy czar, Luis Salas, outlined an economic decree from exiting President Nicolas Maduro. The decree would provide Maduro with powers to dictate economic measures, which he says will help the country from “speculation” and “fictitious” pricing. Some of them include increasing gas prices and perhaps modifying its fixed currency rates soon.
Chinese President Xi Jinping’s visit to key countries of the Middle East - Saudi Arabia, Egypt and Iran - due in late January. During the visit to the Kingdom of Saudi Arabia, Egypt and Iran, the Chinese leader will be accompanied by the economic delegation that will include around 100 heads of state corporations linked to natural resources..Iran wants to join the Shanghai Cooperation Organization (SCO) to become part of this Eurasian organization where China and Russia play a key role.
News that Iran plans to dramatically ramp up oil production sent stocks plunging across the Middle East. Stocks in Kuwait were down 3.1 percent, stocks in Saudi Arabia plummeted 5.4 percent,stocks in Qatar; 7 percent decline. Saudi Arabian stocks are down more than 50 percent from their 2014 highs. Iran announced plans “to add 1 million barrels to its daily crude production.”
Ukraine has threatened to punish Israeli citizens and commercial entities which are engaged in business activities in Crimea that haven't been authorized by Kiev.. Ukrainian embassy in Tel Aviv said they received information about Israeli citizens visiting Crimea 'in violation of Ukrainian laws' and engaging in commercial activity there 'without authorization from the Ukrainian government.,'
French President Francois Hollande has announced what he called "a state of economic and social emergency" involving a €2 billion plan to revive hiring and catch up with the world’s economy, Hollande announced plans for training half a million jobless workers, greater use of apprenticeships, and €2,000 aid for small businesses that hire young workers...
Obama’s spending agreement with Congress will suspend the nation’s debt limit and allow the Treasury to borrow another $1.5 trillion or so by the end of his presidency in 2017. Added to the current total national debt of more than $18.15 trillion, the red ink will likely be crowding the $20 trillion mark right around the time Mr. Obama leaves the White House.
“Iran could haul in more than five times as much cash from oil sales by year-end as the lifting of economic sanctions frees the OPEC member to boost crude exports and attract foreign investment needed to rebuild its energy industry,” Bloomberg reports, adding that “the lifting of sanctions means Iran can immediately boost oil revenue to about $2.35 billion a month, based on the country’s estimated current output of 2.7 million barrels a day and oil at $29 a barrel..”
America’s three biggest banks — JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) — earned more than $6 billion just from ATM and overdraft fees last year.., Consumers now pay over $4, on average, to withdraw their own money from an out-of-network ATM.
Amid a crisis that has poisoned the water supply of an entire city, authorities in Flint, Michigan are under renewed fire on Friday for sending out shut-off notices to residents who are behind on paying their water bills. The move was immediately met with outrage among city and state residents, who say the people of Flint should not have to pay for the water that may have exposed them and their loved ones to irreversible lead poisoning.
Stock markets in the US and around the world ended the week with massive selloffs, rocked by fears that the slowdown in China and plunging oil and commodity prices will trigger a new financial crisis on the order of the 2007-2008 disaster..Another sharp fall on Chinese markets, followed by a 6 percent fall in oil prices to $29 a barrel, set off a wave of panic selling..
“Japan’s currency advanced versus the dollar for the third time in four weeks, while the euro climbed versus most of its peers,” according to a report by Bloomberg. “Hedge funds lifted bets on yen strength to the highest in more than three years, and pared wagers against the European common currency.”
Nevada Public Utilities Commission (PUC) voted unanimously to increase a monthly fee on solar customers by 40% while reducing the amount they get paid for excess power sold to the grid, made the rate changes retroactive, sabotaging consumer investments in solar energy; will effectively kill the solar industry in Nevada, protect the profits of Nevada’s public utility company, NV Energy..
Saudi Arabia and other Persian Gulf countries are scooping up farmland in drought-afflicted regions of the U.S. Southwest,,California and Arizona. Saudi Arabia grows alfalfa hay in both states for shipment back to its domestic dairy herds. In another real-life example of the world’s interconnected economy, the Saudis increasingly look to produce animal feed overseas in order to save water in their own territory, most of which is desert.
Friday’s plunge in oil prices below $30 per barrel took down Russian stock markets and currency. Equities were down over six percent while the ruble hit new yearly lows against the major currencies.
Iceland just sentenced their 26th banker to prison for his part in the 2008 economic collapse. The charges ranged from breach of fiduciary duties to market manipulation to embezzlement.
No one wants to be audited, so knowing how long your tax return can be attacked is important. The statute of limitations on taxes is a fundamental rule allowing taxpayers to eventually cut off their exposure, an expansion of the IRS's power to audit for extra years.
Iran said on Saturday that it plans to use billions of dollars of its blocked assets that are expected to be released after the removal of sanctions against the country for imports of essential goods, will have an immediate access to $30 billion of blocked Iranian assets that have been frozen in different overseas accounts as a result of the sanctions.
The government has to substantially reduce costs, scrap a series of projects and perform staff downsizing; Russian Prime Minister Dmitry Medvedev at the meeting on 2016 federal budget. "We will look at expenses that should be slashed and decide what projects we will have to abandon or postpone. I tasked all ministries and departments to make such proposals — on reduction of costs and downsizing," urges to mobilize budget revenues, particularly in privatization. Dramatic movement of oil prices creates serious risks for budget performance
International sanctions against Iran are due to be lifted Saturday, according to Tehran’s Foreign Minister Mohammad Javad Zarif. The move will take effect when the International Atomic Energy Agency has issued its final report concerning Iran’s nuclear program.
Scale of the malfunctions exceeded anything Blue Cross officials had expected, customers worry the insurance giant’s miscues could leave them uninsured for weeks until the situation is resolved. The difficulties have become so widespread that this week the N.C. Department of Justice sent Blue Cross a letter asking it to explain what went wrong, how many customers were affected and how it plans to rectify the billing errors that were made in recent weeks. Of the estimated 25,000 customers who didn’t get the health insurance policy they had selected, about 17,000 remained to be processed Thursday, Blue Cross officials said Thursday. The company’s goal is to activate coverage retroactively to Jan. 1 for customers who made their first payment to Blue Cross.
The Brent and WTI crude benchmarks slid below $30 per barrel on Friday, as investors worry about Iran’s earlier than expected return to the oil market. International sanctions on Tehran may be lifted Monday, allowing the fifth-biggest member of OPEC to boost oil exports.
Michigan residents who say they've suffered injury from drinking lead-contaminated water have filed a class-action lawsuit against Gov. Rick Snyder, the state, and the city of Flint. State was forced to admit it was responsible for poisoning the water, the State knowingly made false statements concerning the drinkability of the water. Investigation by the U.S. Department of Justice and the Environmental Protection Agency as well as a separate class action lawsuit against the city, state and county,
Russia, China, India and other emerging powers are pushing for a multipolar world; meanwhile the United States, a former hegemon, is unable to stop them as it is losing its political power and is “de-facto bankrupt,” Russia, China and other emerging economies are beginning to reduce their dependency on the US dollar. Russia plans to trade oil using rubles by undermining the current US oil price monopoly.
The United States has spent nearly half a billion dollars and five years developing Afghanistan’s oil, gas and minerals industries — and has little to show for it.,The project’s failings are the result of poorly planned programs, inadequate infrastructure and a challenging partnership with the Afghan government; Special Inspector General for Afghanistan Reconstruction.
The US Army has awarded 17 companies, including major corporations, $900 million in contracts for logistics and service support for biological and chemical war projects, the Department of Defense announced.
Oil prices have experienced a rebound in global markets, after going through a drastic fall, which saw crude prices fall below USD 30 a barrel for the first time in more than 12 years, global supply glut that has been putting a tremendous downward pressure on the market for the past 18 months.,
Russian President Vladimir Putin said in an interview with German newspaper Bild that Russia’s economy is, at best, fifth in the world in terms of volume. “We do not claim the role of a superpower,” he said. “This role is very costly and it is meaningless.”
United Methodist Church pension fund blocked five Israeli banks from its investment portfolio to weed out companies that profit from abuse of human rights. Also sold holdings in Israeli real estate and construction company Shikun & Binui, barred the company from the pension group's investment portfolio; identified Israel among countries or regions with "a pattern of human rights abuses." Other countries on the list include Saudi Arabia, Central African Republic and North Korea. The Methodist church largest mainline Protestant group in the United States.
The Royal Bank of Scotland has recommended its clients prepare for a “cataclysmic year,” as major stock markets could drop by a fifth and Brent oil could hit $16 a barrel. "Sell everything except high quality bonds. This is about return of capital, not return on capital. In a crowded hall, exit doors are small," said the bank’s credit team in a note sent to clients, According to RBS analysts, the markets are showing the same stress alerts as seen before the 2008 crisis. Andrew Roberts, the bank’s credit chief: “China has set off a major correction and it is going to snowball.”
. Obama evaded the real issues that affect tens of millions of working people in America. He painted a ludicrous picture of economic recovery and social progress; “how we recovered from the worst economic crisis in generations.” The so-called “recovery” has been a bonanza for corporate profits, stock prices, and the wealth and income of the super-rich. For the working people who are the vast majority of the population, it has been a disaster.
Monsanto announcing the company will cut about 3600 jobs. Plans to construct a $90 million GM corn processing plant in Independence, Iowa have reportedly been scrapped due to a ‘struggling farm economy..
Swiss canton of Zug is asking its citizens to delay paying their taxes for as long as possible. Why? Negative interest rates. The cantonal government doesn’t want to take in a pile of cash, only to end up paying the bank interest on all the tax revenue. So if a bank is paying interest to hold funds with the central bank, eventually they’re going to pass that cost on to the governent. According to the Financial Times, the cantonal government of Zug estimates that they will save $2.5 million in negative interest rate charges by delaying tax receipts.
Australia’s stock exchange last week experienced its worst start to a year in recent history, and the share price falls continued for the seventh consecutive day yesterday, with mining and banking companies most seriously affected.As of last night, the main Australian share indexes had dropped more than 7 percent in 2016, wiping off more than $100 billion in value from the S&P/ASX 200 stocks alone.
According to Sam Benson — who goes by the stage name of “Blac Youngsta” — he had just exited a Wells Fargo branch in the upscale community of Buckhead after withdrawing $200,000 in order to buy a new car. ‘I’m a millionaire. How can I not have $200,000 on me?’” A spokesperson for the Atlanta police department explained that they were responding to a call “at the request of the bank manager” before finding “that no crime had been committed.”
National Assembly of Venezuela, deputies passed a law which lays the foundation for a truly democratic food system. It promotes agroecological production methods – that’s a form of farming that works with nature and avoids chemicals, pesticides and monocultures. It aims to make the county independent of international food markets; outlaws the privatization of seeds and promotes instead small and medium scale farming and biodiversity.
A large Irish company has cut its business ties with Israel over the Tel Aviv regime’s policies against Palestinians. The building materials group, CRH, says it has divested its 25 percent stake in the Israeli cement market. The company has long been under fire over its cooperation with the Israeli firm, Mashav, which supplied materials for the construction of the so-called ‘Separation Wall’ in the West Bank, as well as checkpoints and settlements.
Amid stock market panic in China, many of the country’s most prominent billionaires are disappearing without a trace. Dozens of wealthy executives throughout China have disappeared in the past year; a growing corruption investigation in which many of these executives are implicated. Small number of them officially announced as being in government custody. Likely some are hiding expecting they will be jailed; possible government is sweeping them up in middle of the night.
In an unprecedented move major financial institutions operating in the shadows are reportedly gobbling up silver and gold coins and small bullion bars at such extreme levels that mints in Australia, Canada and the United States are unable to keep up with demand.
The U.S. Supreme Court on Monday rejected a bid by Nestle SA, the world's largest food maker, and two other companies to throw out a lawsuit seeking to hold them liable for the use of child slaves to harvest cocoa in Ivory Coast.The high court left in place a December 2014 ruling by the San Francisco-based 9th U.S. Circuit Court of Appeals that refused to dismiss a lawsuit against Nestle, Archer-Daniels-Midland Co and Cargill Inc filed by former victims of child slavery.
Demand is declining in view of the slowdown of China’s economic growth and reorientation of the growth model from the investment to consuming (domestic demand-focused) one. "Expectations of slowdown of China’s economy growth rates; China’s stock market fall early this year, US stock market also decline,"lifted ban on oil export by the United States and cancelation of sanctions on Iran also contribute to oil prices drop.
Bitcoin is the top performing currency of 2015. According to The Money Project, the decentralized digital currency beat the US$ by 35 percent; bitcoin was also the top performing currency of 2013, but the worst currency of 2014,
Through a unanimous vote by its City Council, the city of Berkeley, California has decided to hold Monsanto legally liable for polluting the land and water with PCBs (polychlorinated biphenyls). PCB’s were first manufactured in 1929 by the Swann Corporation, which later became part of Monsanto Chemical Company. Environmental destruction was so obvious Congress had to outlaw them.
Commerce between Europe and North America has literally come to a halt. For the first time in known history, not one cargo ship is in-transit in the North Atlantic between Europe and North America. All of them (hundreds) are either anchored offshore or in-port. NOTHING is moving. This has never happened before. It is a horrific economic sign; proof that commerce is literally stopped.
China has suspended some banks from Foreign Exchange markets and ordered other banks to stop buying Dollars. China’s foreign exchange regulator has ordered banks in some of the country’s major import and export centers to limit purchases of U.S. dollars . All banks in certain trading hubs, including Shenzhen, received the regulator’s order recently..
China's stock market collapse and imposition of currency controls threaten to further destabilize the world markets, as analysts predict an end to China's perpetual growth. The market collapse over the first week of 2016 showed that China's roughly 10 percent collapse in the Shanghai Composite Index can reverberate around the world.
Last week rail carload data showed volumes fell 10.1% on a year-over-year basis resulting in the longest period of sustained weakness since 2009. Rail carloads have now fallen 5% on a year-over-year basis for the past 11 consecutive weeks. Over the last 30 years this has only happened five times and each occurrence either overlapped or preceded a recession by a few quarters.
Economic Development Minister Alexey Ulyukayev: High volatility of the currency has led to big problems in the Russian Economy, not exchange rate values, Russian companies "are not always able to adapt" to such high volatility, because "dependence on imported raw materials, on imported components is high." "Many banks value access to the global capital markets, debt refinancing for borrowers is hindered. All this led to big problems,
Global stock markets experienced worst opening week in a new year in two decades as concerns over the Chinese economy, value of the renminbi and policies of Chinese financial authorities sent out a series of shock waves. $2.3 trillion was wiped off the value of global stocks for the week. Markets in the US had worst opening week ever. Shares closed down about 1 percent on Friday, after falls in Japan and Europe,German Dax index posting biggest loss since 2011.
Starting at the beginning of 2016, the pharmaceutical giant Pfizer Inc. quietly jacked up the U.S. prices of over 100 of its drugs, some by nearly a fifth. No price reductions were reported. "TPP countries have agreed to United States government and multinational drug company demands that will raise the price of medicines for millions by extending monopolies and delaying price-lowering generic competition."
More than 40% of millennials used a payday loan, pawnshop, tax refund advance or other alternative financial product in the past five years, according to a survey of more than 5,000 millennials by tax and consulting firm PricewaterhouseCoopers. (39%) of U.S. households used at least one alternative financial service, according to a 2013 survey from the Federal Deposit Insurance Corporation..
Chinese Gold Reserves increased by 19 tonnes in December. Since starting monthly reporting in July, China has added 104 tonnes of gold to its reserves in 2015 Total reported Chinese gold reserves stand at 1,762.323 tonnes. June 2015, China updated its gold reserves for the first time since 2009 by reporting an additional 604 tonnes. In August, China updated its gold reserves for July adding 19.4 tonnes. In September, China reported adding 16.15 tonnes of gold to its reserves during the month of August.
The Swiss National Bank said on Friday that it expects to post an annual loss of 23 billion francs ($23 billion) for 2015 due largely to foreign exchange transactions. This contrasts with the record profit of 38 billion francs recorded in the previous year The central bank said its foreign currency losses amounted to 20 billion francs, while gold holdings lost four billion francs in value.
Tehran has severed its commercial ties with Riyadh, its government announced on Thursday. The move comes amid a diplomatic rift between the two nations following the execution of a prominent Shia cleric by Saudi authorities.
Engineers at America’s biggest automaker, which got a $50 billion government bailout in the financial crisis, knew of a flawed ignition switch but rejected a fix that would have cost 90 cents apiece. The switch could be jarred into the “accessory” position, shutting off the engine, disabling power steering and brakes and preventing air bags from deploying. The faulty switches are linked to the deaths of at least 124 people,
In recession since the second quarter of last year, Brazil is suffering from rising unemployment and a drop in investor confidence. Both have been fueled by a deteriorating political crisis involving President Dilma Rousseff who has been caught in a scandal related to the state oil firm Petrobras. Food prices have also picked up amid sharp currency devaluation in the country as well as impacts of severe weather conditions.
Russian sanctions have severely disrupted Turkish exports to Central Asia. The transit route via the Caspian Sea and Azerbaijan cannot sustain exports to the Central Asian market. Amid falling oil prices and the resumption of the Nagorno-Karabakh crisis Azerbaijan cannot be considered a reliable partner. In addition, Ankara has concerns about new Russian weapons deployed to the Caspian Sea.
China has suspended stock trading for the second time this week after an abrupt 7 percent decline during the first half an hour of trading sent shocks through global markets. The events prompted the Chinese regulator to suspend circuit-breaker measures.
Competitors, using the older, much cheaper, and equally effective drug, have driven the price down to a mere $4 a pill. This makes total cost to cure your Hepatitis C in India’s free market $336. United State’s market controlled price of $84,000,
Once your money is deposited in the bank, it legally becomes the property of the bank. Your deposited cash is an unsecured debt obligation of your bank. State and local government deposits are considered “secured,” since they remain junior to the derivative claims with “super-priority.” Your money is not considered security or collateral but merely a loan to your bank and you will be forced to stand in line along with the other creditors. Some will rob you with a six-gun and some with a fountain pen; you won’t NEVER see an outlaw drive a family from their home.”
Dr. Bradstreet was working with a little-known molecule that occurs naturally in the human body. Called, "GcMAF", has the potential to be a universal cancer cure for many people; also shown to reverse signs of autism in the vast majority of patients receiving the treatment. U.S. government conducted a raid on Dr. Bradstreet's clinic, seeking to confiscate GcMAF in order to shut down his research and halt his treatment of patients. Big Pharma gets special permission to unleash untested, experimental drugs on the public as long as those drugs earn sufficient profits
Iran says that it has set eyes on the removal of the US-led sanctions to bring in the technology it requires to produce more natural gas for exports to as far as India, China and Europe. Iran can easily increase its current natural gas production. “The United States is trying to export liquefied natural gas (LNG) to Europe to reduce its dependence on Russian supplies
China’s stock market was closed early Thursday for the second time in four days as stocks plunged as soon as it opened. A key index dropped by 5 percent, forcing an automatic 15-minute freeze. When the markets re-opened the losses continued and the market was shut for the day when they hit 7 percent. The China plunge came after a day of turbulence in European and US markets on Wednesday, prompted by a further drop in oil prices, rising concerns over Chinese growth and financial stability, and worries over emerging market debt
Submission of governments to corporate interests accelerating — particularly in Brussels, now home to almost as many lobbying groups as DC. Europe’s local level, opposition to TTIP continues to grow, some parts of some countries might benefit handsomely, others stand to lose out enormously, resulting in widening economic imbalances across Europe’s regions.” European populace has never been able to block the dictates of the EU, especially on trade issues. The Corporatist will strengthen their strangle hold on international trade.
China has lost control of its currency (whether intentionally or not) ; North Korea tests a nuke; European inflation disappoints; US services economy collapses (follows manufacturing's lead and another pillar of hope is destroyed); Crude crashes to fresh decade plus lows; The Fed offers nothing in the way of hope for growth (or puts); Bernanke says not to expect Fed to save stocks; World Bank cuts global growth outlook... But apart from that, everything is awesome!!!
DUI checkpoints are a HUGE moneymaker for state and local budgets. Albuquerque, New Mexico making $1 million a year from it's drunk driving program. "Each year, the city seizes approximately 1,000 vehicles and brings in roughly $1 million in forfeiture proceeds, University of Berkeley received close to $14 million in grants from DHS to run California's Sobriety Checkpoint program.
Falling crude prices poses a new challenge for the Russian economy in 2016. Russian oil companies pay most of their expenses in domestic currency (a weak ruble) while getting hard currency (a strong US dollar) for their product. Russia's Finance Ministry announced in December that it is drawing up plans based on the price of oil as low as $30 a barrel until 2022. Another possible move for Moscow to is to depreciate the ruble against Western currencies.
David Cameron: Taxes will have to rise unless officials are given new powers to raid people's bank accounts, The Treasury select committee warned that allowing HM Revenue and Customs to remove cash from bank accounts without court orders is "very concerning" because of its history of mistakes.The committee said that taxpayers could suffer “serious detriment” if officials are able, either by mistake or through an “abuse” of power, to take money from people who have done no wrong.
Class conflict will become an ever-more dominant feature of life in 2016 as the ruling classes in the US and around the world demand that workers pay for the global economic crisis and the cost of endless and expanding war. Last year was marked by significant initial expressions of growing opposition among workers internationally.
Brazil’s government has excluded an Israeli “security” company from working at the 2016 Olympics in Rio de Janeiro following a campaign by Palestine solidarity activists. Israeli firm International Security and Defence Systems (ISDS) had close ties with Israeli military, as well as a long and sordid history in Central and South America. Helped train and arm the Contras in Nicaragua who tried to overthrow the Sandinista government. Trained and helped form anti-terrorism “squads” within the Guatemalan military to target opposition forces and grassroots organizing, while providing the military with electronic surveillance, arms, helicopters, and airplanes. ISDS trained Honduran death squads which conducted kidnappings, killings, and torture against political dissidents.
Trading was suspended on Chinese markets after stocks tumbled 7 percent in the first trading of the year, triggering the new “circuit breaker” system limiting volatility, which was introduced in December. The fall from Asia led to a slump in European stocks as well.
As of January 1, 2016, all European banks will be subject to "Bail Ins"; a procedure whereby a failed or failing bank can convert some of your bank deposits into the stock of the failing bank. Money in your bank account can be taken by the bank and converted so that you would now own stock in what had been a failing bank. Once you deposit money in a bank it is no longer yours. It belongs to the bank. You are what is called an "unsecured creditor" of the bank. FDIC (along with the Bank of England) issued a paper on December 10, 2012 on how Bail In procedures will be implemented in the U.S. and in England.
Florida village of Bal Harbour police department, in conjunction with the Glades County Sheriff’s Department, ran a money laundering sting operation for two years. had officers conducting deals all over the US, and sending money across the world. Over $2.4 million was added to their coffers, no arrests were ever made. $20 million was funneled through businesses in the Miami area to launder the money for drug groups, and the police never notified federal authorities about their operation.
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