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Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans

June 12th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-06-11/europe-gives-greece-24-hours-comply-germany-draws-capital-control-plans

Greek delegate told by EU officials that a list must includes reform on pension and VAT. German government holding "concrete consultations" on what to do in the case of a bankruptcy of the Greek state, debt haircut for Greece being discussed. EU didn’t specifically say what would happen to Greece if there was no plan presented tomorrow.

US Refrains From Prohibiting Companies to Attend Russia's Economic Forum

June 11th, 2015
Categories: Economic

Link: http://sputniknews.com/politics/20150612/1023258488.html

The United States will not attempt to prevent its entrepreneurs from traveling to Russia for the St. Petersburg International Economic Forum 2015, Two executives from US companies with operations in Russia reportedly said government officials told them there would be "no punishment" if the companies attended the forum.

Montana Republican: Noah was 600 years old when he built the Ark, so why do Americans need retirement?

June 11th, 2015
Categories: Economic

Link: http://www.rawstory.com/2015/06/montana-republican-noah-was-600-years-old-when-he-build-the-ark-so-why-do-americans-need-retirement/

Greg Gianforte, tech millionaire, Republican governor of Montana: urges college students to reject policy that favors savings plans and retirement options because, like Noah, Christians have “an obligation to work” until they are hundreds of years old. “There’s nothing in the Bible that talks about retirement. Noah was 600 when he built the Ark. He wasn’t cashing Social Security checks.

Farmers Are Starting to Ditch GMO Soybeans

June 11th, 2015
Categories: Economic

Link: http://naturalsociety.com/farmers-are-starting-to-ditch-gmo-soy-beans/

Roundup Ready variety of soybeans might cost $65 to $70 a bag, and conventional, non-GMO varieties are $30 to $35 a bag, consumers in the US and other countries refuse to eat genetically modified food.

Greek exit would trigger eurozone collapse, says Alexis Tsipras

June 10th, 2015
Categories: Economic

Link: http://www.theguardian.com/business/2015/jun/09/greek-exit-would-trigger-eurozone-collapse-says-alexis-tsipras

Alexis Tsipras warns that failure to agree a rescue deal for Greece the end of the eurozone, submitted a revised package of reforms to negotiators in Brussels. Europe’s leaders would have a bigger disaster on their hands because “it will be the the end of the eurozone”.

Retirees Say Pensions Slashed By As Much As 75% After Miscalculation

June 10th, 2015
Categories: Economic

Link: http://govtslaves.info/retirees-say-pensions-slashed-by-as-much-as-75-after-miscalculation/

Some former government employees are being forced to take a massive cut to their pensions years after retiring, because of what the organization in charge of calculating and administering the benefits says was a mistake that led to overpayments. Encouraged those retirees to sign a document agreeing not to talk about it.

Watch America’s Student-Loan Debt Grow $3,055 Every Second

June 10th, 2015
Categories: Economic

Link: http://govtslaves.info/watch-americas-student-loan-debt-grow-3055-every-second/

Skyrocketing college costs, cuts to public funding for higher education, stagnant incomes, growth in college-going population largely to blame for uptick in outstanding student loans over the past decade. 40 million Americans carrying some student loans, about 70% of students graduate college with debt.

50 U.S. Hospitals Mark Up Prices 1000 Percent For Some Patients

June 10th, 2015
Categories: Economic

Link: http://govtslaves.info/50-u-s-hospitals-mark-up-prices-1000-percent-for-some-patients/

Fifty hospitals in the United Statescharging uninsured consumers more than 10 times actual cost of patient care, according to research published Monday. All but one of the facilities owned by for-profit entities, largest number — 20 — are in Florida. Hospitals with highest markups not in pricey neighborhoods or big cities.

New Jersey Supreme Court sides with Christie on pensions

June 9th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/10141113512

New Jersey state Supreme Court sided with Gov. Chris Christie against public-worker unions over pensions, preserving major cuts to stave off a budget crisis. Said there wasn't an enforceable contract to ensure full payments to workers, as unions had argued there was.

You Have Two Choices Folks

June 9th, 2015
Categories: Economic

Link: http://www.thedailysheeple.com/you-have-two-choices-folks_062015

Medical system in this country is a racket. In virtually any other industry the routine practices in this “industry” and the associated “insurance” industry with it would be considered felonies at both a state and federal level, implicating RICO, The Sherman, Clayton and Robinson-Patman acts at the federal level and consumer-protection laws in the states.

Russia to export 1.3mn ton grain to Iran

June 8th, 2015
Categories: Economic

Link: http://www.presstv.com/Detail/2015/06/08/414901/IRAN-RUSSIA-GRAIN-DELIVERY

Russiahas started shipping grain supplies to Iran. Alexey Alexeyenko, Federal Service for Veterinary and Phytosanitary Surveillance: 100,000 ton cargo got underway a few days ago. Will ship 1.3 million tons of grain to Iran this year. Iran Petroleum Minister Bijan Zangeneh; Russia will import crude from Iran in exchange for cash.

White House Admits Economies Of European Allies Crippled By Russian Sanctions

June 8th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-06-08/white-house-admits-economies-european-allies-crippled-russian-sanctions

Josh Earnest, White House press secretary, said yesterday: commitment required by our European partners to implement, maintain sanctions is significant. They have economies more integrated with Russia than United States , many of the countries we’re counting on to continue to enforce sanctions do so at some sacrifice to their economy.

Four Ways Student Loans Could Cripple The U.S. Economy

June 8th, 2015
Categories: Economic

Link: http://govtslaves.info/four-ways-student-loans-could-cripple-the-u-s-economy/

Older workers working longer saddled with huge debt, less in savings. Student loans kill prospect of saving. A decline in home sales; less employment, fewer purchases of goods and services that go into homes. Government financing of the loans one of largest potential costs for U.S. taxpayers.

All G7 Leaders Want Greece to Remain in Eurozone – Merkel

June 8th, 2015
Categories: Economic

Link: http://sputniknews.com/europe/20150608/1023094921.html

German Chancellor Angela Merkel; all the leaders of the G7 group, comprising France, the United Kingdom, Italy, Germany, Japan, United States and Canada, would like Greece to remain in the Eurozone. Speculations about Greece’s possible exit from eurozone intensified amid country’s ongoing financial crisis, doubts on whether the country would be able to settle its $350 billion debt to creditors.

Soros Pushes US Bailouts and Weapons for Ukraine - Video

June 8th, 2015
Categories: Economic

Link: http://www.blacklistednews.com/Soros_Pushes_US_Bailouts_and_Weapons_for_Ukraine/44408/0/38/38/Y/M.html

Soros: Federal Reserve could be asked to extend $15 billion swap arrangement with National Bank of Ukraine; reassure markets, avoid a panic. ”US should provide Ukraine “with same level of weapons to match opposing force. Military-industrial complex, bankers happy at prospect of weapons “sales” to Ukraine. American taxpayers will be forced to pay for it.

Billionaire Cartier Owner Sees Wealth Gap Fueling Social Unrest

June 8th, 2015
Categories: Economic

Link: http://www.bloomberg.com/news/articles/2015-06-08/billionaire-cartier-owner-sees-wealth-gap-fueling-social-unrest

South African Johann Rupert made billions selling Cartier jewelry, Chloe fashion. Tension between rich and poor is to escalate as robots, artificial intelligence fuel mass unemployment.“We cannot have 0.1 percent of 0.1 percent taking all the spoils,” “It’s unfair and it is not sustainable.”

Franken finds sandwich shop's noncompete rule ridiculous

June 8th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/10026794735

Jimmy John’s sandwich shop's, other retailers requires workers to sign agreements they will not work for competitors if they leave their jobs. Sen.D-Minn Al Franken: those agreements "ridiculous." Workers often aren't told their jobs include restriction as condition of employment. Franken and Sen. Chris Murphy (D-Conn.) introduced Mobility and Opportunity for Vulnerable Employees - MOVE - Act to ban non-compete agreements for employees making less than $15 an hour.

Cameron to press for extending anti-Russian sanctions at G7 summit in Bavaria

June 7th, 2015
Categories: Economic

Link: http://tass.ru/en/economy/799298

British Prime Minister David Cameron will try to convince his European partners at G7 summit in Germany on Sunday of the need to continue stay united against Russia and not to ease economic pressure on Russia. The EU economic sanctions against the key enterprises of the Russian banking, oil and defense sectors are expiring in July.

Greece Explores BRICS Development Bank Membership – Deputy Defense Minister

June 7th, 2015
Categories: Economic

Link: http://wakeupfromyourslumber.com/greece-explores-brics-development-bank-membership-deputy-defense-minister/

Greece is considering membership in the BRICS New Development Bank (NDB), Greek Deputy Defense Minister Costas Isychos. Russia invited Greece to become the bank’s sixth member on May 11, discussions of Athens’ ascension into the NDB were not due to start until the BRICS summit in July.

US Hopes Greek Debt Crisis Settles Without Rocking Global Market

June 7th, 2015
Categories: Economic

Link: http://sputniknews.com/europe/20150607/1023064267.html

Greece and its international lenders should work out their disagreements without destabilizing the global financial market; White House spokesman Josh Earnest. Greece's national debt around $350 billion.

The Central Banks Are Losing Control of the Financial Markets

June 7th, 2015
Categories: Economic

Link: http://www.thedailysheeple.com/the-central-banks-are-losing-control-of-the-financial-markets_062015

Global central banks have been manipulating the financial marketplace with their monetary voodoo. “Volatility over the last days has been breathtaking, especially in bond markets,” sheer panic in the market from the standpoint of what’s been happening in Europe.

Poroshenko Hands Over Roshen Share to Rothschild Under Trust Deal

June 6th, 2015
Categories: Economic

Link: http://wakeupfromyourslumber.com/poroshenko-hands-over-roshen-share-to-rothschild-under-trust-deal/

Ukrainian President Petro Poroshenko confirmed on Friday his decision to sell his businesses and transfer his stake in the Roshen confectionery corporation under a trust agreement to the Rothschild Investment Company.

How the Retail Industry Keeps People of Color in Poverty

June 6th, 2015
Categories: Economic

Link: http://www.truth-out.org/news/item/31141-how-the-retail-industry-keeps-people-of-color-in-poverty

Erratic hours, on-call last-minute scheduling especially impact black workers, often “have longer commute times than White workers, leading to greater time and money costs when their shifts are cut short.” Lack of healthcare benefits, unmet childcare needs, intensifies poverty, further constrains workers’ ability to gain steady employment. Daycare might be unavailable when workers don’t know if they’ll be working until the day they are called in.

So Long Big Apple! Chinese Firms Look to Drop NYSE Listings, Return Home

June 6th, 2015
Categories: Economic

Link: http://sputniknews.com/us/20150606/1023007061.html

A number of Chinese tech firms are looking to drop their listings in New York and return home to Beijing, where stock markets are surging. They also hope to avoid being ensnared in a legal mess when Beijing formally outlaws foreign shareholder control of firms in protected tech sectors.

40% Of US Workers Now Earn Less Than 1968 Minimum Wage

June 6th, 2015
Categories: Economic

Link: http://www.newsforage.com/2015/06/40-of-us-workers-now-earn-less-than.html

In 1968 minimum wage in the United States was $1.60 an hour. Using the inflation calculator that the Bureau of Labor Statistics provides, $1.60 in 1968 is equivalent to $10.74 today. 76.7 percent of the jobs that have been “created” in the U.S. this year have been part-time jobs.

Greece turns to Russia: Tsipras will meet Putin on 18 June

June 6th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/greece-turns-to-russia-tsipras-will-meet-putin-on-18-june/

Greek Prime Minister Alexis Tsipras will meet Vladimir Putin on 18 June, fuelling fears that Athens might seek a deal with Moscow that would circumvent EU sanctions on Russia. Athens is looking to receive €5bn (£3.65bn, $5.55bn) in advance payments from Russia by agreeing to become a central hub for a Russia-Europe gas pipeline.

The "Illegal Immigrant" Recovery? The Real Stunner In The Jobs Report

June 6th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-06-06/illegal-immigrant-recovery-presenting-most-stunning-number-may-jobs-report

Establishment Survey reported an increase of 280K jobs, Two thirds of all jobs, were low-paying, low-quality jobs, primarily teachers, retail, temp help and waiters. Number of self-employed workers soared by 350K.

Visa, MasterCard fully switch to Russian processing

June 6th, 2015
Categories: Economic

Link: http://tass.ru/en/economy/799164

International payment operators Visa and MasterCard have fully transferred their transactions inside Russian to processing in the National System of Payment Cards (NSPC), two top managers of Russia's Central Bank said on the sidelines of the International Banking Congress on Friday.

Greece will not accept ‘absurd’ proposal from Troika

June 6th, 2015
Categories: Economic

Link: http://rt.com/business/265360-greece-creditors-accept-proposal/

Greek Prime Minister Alexis Tsipras said in a speech to parliament on Friday that his country cannot accept the “unrealistic” proposals set by its lenders that did not include a promise of debt relief.

CHINA HOARDING OIL – China is Cashing In on Cheap Crude Oil

June 6th, 2015
Categories: Economic

Link: http://investmentwatchblog.com/china-hoarding-oil-china-is-cashing-in-on-cheap-crude-oil/

The world’s second largest consumer of oil after the U.S. began building its strategic reserves a decade ago, recently stepped up construction of storage facilities. China aims by 2020 to squirrel away 100 days of net imports, according to state media. At current rates of imports, that would mean 600 million barrels of crude oil.

South Carolina becomes first US state to take action against anti-Israel boycotts

June 6th, 2015
Categories: Economic

Link: http://www.redicecreations.com/article.php?id=33463

The bill makes no mention of Israel directly, but prevents public entities from contracting with businesses engaging in the “boycott of a person or an entity based in or doing business with a jurisdiction with whom South Carolina can enjoy open trade.”

Massive Manipulation: "Real Producers and Consumers Don’t Appear to be Represented"

June 6th, 2015
Categories: Economic

Link: http://www.activistpost.com/2015/06/massive-manipulation-real-producers-and.html

Long reported that the money changers operating within the halls of our most hallowed and influential financial institutions have been manipulating everything from stocks and bonds to housing prices and commodities. We can ignore reality, but we cannot ignore the consequences of ignoring reality.

Greek Banks On Verge Of Total Collapse: Bank Run Surges "Massively" As Depositors Yank €700 Million Today Alone

June 6th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-06-05/greek-banks-verge-total-collapse-bank-run-surges-massively-depositors-yank-%E2%82%AC700-mill

From bad to horrible for Greek banks, when Greeks "responded with massive outflows to the Greece's government decision to bundle the four tranches to IMF into one by the end of the June." Total net outflows in last 7 business days estimated 3.4 billion Euros threatening the stability of the Greek banks.

Bill would limit efforts to recoup Medi-Cal costs from patients' estates Bill would limit efforts to recoup Medi-Cal costs from patients' estates

June 5th, 2015
Categories: Economic

Link: http://www.democraticunderground.com/10141111004

State's Medi-Cal program long looked to estates and heirs of deceased Californians to recoup public money spent on their healthcare, suing survivors and filing liens against the homes of poor families. Senate Bill 33 would limit state's ability to go after homes "of modest value," allow survivors hardship exemptions for homes with market value 50% or less of average. Prohibit seeking money from estates of surviving spouses.

Introducing The Zero Labor Factory (90% Free Actually); Robots At Chili’s, Applebees, Panera

June 5th, 2015
Categories: Economic

Link: http://govtslaves.info/introducing-the-zero-labor-factory-90-free-actually-robots-at-chilis-applebees-panera/

China Daily reports Manufacturing Hub Starts Work on First Zero-Labor Factory. Panera Bread to introduce self-service ordering kiosks, Chili’s and Applebee’s to place tablets on their tables, allowing diners to order and pay without interacting with human wait staff.

Putin: 12 more countries interested in working with SCO

June 4th, 2015
Categories: Economic

Link: http://rt.com/politics/264633-russia-sco-weight-putin/

President Vladimir Putin: Russia-led Shanghai Cooperation Organization is gaining more weight with a dozen new nations showing interest in cooperation; studying possibility of accepting India, Iran and Pakistan into the bloc. Soviet republics of Kazakhstan, Tajikistan, Uzbekistan and Kyrgyzstan, all are Russia’s allies in trade, politics and defense.

Russia is not out to return to G8 — deputy FM

June 4th, 2015
Categories: Economic

Link: http://tass.ru/en/russia/798937

Russian Deputy Foreign Minister Sergey Ryabkov: Russia never left G8. It’s our G8 partners who left the Russian presidency last year. "We have much more interest in other formats; the G8 format was not always productive "It is much more interesting to work in BRICS and G20.

In Brussels talks, Greece moves closer to austerity deal with EU

June 4th, 2015
Categories: Economic

Link: http://www.wsws.org/en/articles/2015/06/04/gree-j04.html

Greek Prime Minister Alexis Tsipras announced yesterday that Athens was close to a deal on the austerity measures demanded by the European Union (EU) and the banks. EU authorities still negotiating size of pension cuts and increases in Tax VAT, or sales taxes.

French Telecoms Giant May Break Contract With Israel Due to Law Violation

June 4th, 2015
Categories: Economic

Link: http://sputniknews.com/business/20150604/1022959215.html

French telecommunications company Orange S.A. is planning to stop its relationship with Israeli mobile operator Partner. The reasons for this are Israel’s violations of international law and its expansionist policy.

Greece Unable To Make €300 Million IMF Payment, Requests "Bundling"

June 4th, 2015
Categories: Economic

Link: http://www.zerohedge.com/news/2015-06-04/greece-unable-make-%E2%82%AC300-million-imf-payment-requests-bundling

Greece will not make Friday’s €300 million payment to the IMF and will instead request to have the payments bundled so as to buy PM Alexis Tsipras a few extra weeks to negotiate a deal and pass an agreement through parliament.

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