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International Labor Organization details impact of global austerity

June 5th, 2014
Categories: News, World, Economic, Politics

Link: http://www.wsws.org/en/articles/2014/06/05/ilo-j05.html

United Nation’s International Labor Organization (ILO): More than 70 percent of world’s population lack adequate income, health care, old-age pensions, other social protections, Governments continue to slash social safety net as unemployment, poverty grows, result of the global economic crisis.

McDonald's CEO: 'We Will Support' A Minimum Wage Hike

June 5th, 2014
Categories: News, Economic, Politics

Link: http://www.democraticunderground.com/1014819419

McDonald's CEO Don Thompson recently suggested his company would support a bill, proposed by President Barack Obama, raising the federal minimum wage to $10.10 an hour from $7.25. "I will tell you we will support legislation that moves forward."

Infrastructure Sticker Shock: Financing Costs More than Construction

June 1st, 2014
Categories: News, Economic, Politics

Link: http://www.blacklistednews.com/Infrastructure_Sticker_Shock%3A_Financing_Costs_More_than_Construction/35632/0/38/38/Y/M.html

Funding infrastructure through bonds doubles the price or worse. Costs can be cut in half by funding through the state’s own bank. A general rule for government bonds is that they double the cost of projects, once interest has been paid.

US set to slap $10bn fine on BNP Paribas over alleged violation of sanctions-Video

May 30th, 2014
Categories: World, Economic, Politics, Police State

Link: http://www.presstv.ir/detail/2014/05/31/364847/us-set-to-slap-10bn-fine-on-french-bank/

France’s biggest bank, BNP Paribas, facing $10 billion fine over charges it violated US sanctions against Iran and other countries. US Justice Department pushing bank to plead guilty to charges, pay one of biggest penalties imposed on a financial institution

National disaster': Spain sees 500% rise in ‘very long-term unemployment’

May 30th, 2014
Categories: World, Economic, Politics

Link: http://rt.com/news/162640-spain-unemployment-rate-increase-report/

Over one million people in Spain - the eurozone's fourth largest economy - haven't had a job since 2010, according to a report by Spain's National Statistics Institute. Although this number continues to rise, the government says it's witnessing recovery.

Hungary Kills The Rothschild Banks: Ordered To Vacate Country.

May 30th, 2014
Categories: News, World, Economic, Politics

Link: http://politicalvelcraft.org/2013/08/28/hungary-orders-rothschilds-imf-to-vacate-the-country-now-issuing-debt-free-money/

Prime minister told IMF Hungary neither wants nor needs further “assistance” from Rothschild-owned Federal Reserve Bank. Hungarian government assumed sovereignty over its currency issues money debt free. The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly.

Ukraine making 1st gas payment to Russia

May 30th, 2014
Categories: News, World, Economic, Politics

Link: http://www.blacklistednews.com/Ukraine_making_1st_gas_payment_to_Russia/35592/0/38/38/Y/M.html

Ukraine said Friday that it ordered a $786 million payment to Russia in a first step toward paying off its gas debts, and another round of talks aimed at resolving the two countries' dispute over gas prices and preventing a possible supply cutoff was set for Monday.

Big Banker: New federal database will track Americans' credit ratings, other financial information

May 30th, 2014
Categories: News, Economic, Politics, Police State

Link: http://www.blacklistednews.com/Big_Banker%3A_New_federal_database_will_track_Americans%27_credit_ratings%2C_other_financial_information/35598/0/38/38/Y/M.html

227 million Americans may be compelled to disclose intimate details of their families and financial lives -- including their Social Security numbers -- in a new national database being assembled by two federal agencies.

U.S. House of Representatives Slams Sanctions on Venezuela

May 29th, 2014
Categories: News, World, Economic, Politics, Police State

Link: http://nsnbc.me/2014/05/29/u-s-house-representatives-slams-sanctions-venezuela/

U.S. House of Representatives voted overwhelmingly for sanctions. Appeal by Representative John Conyers of Michigan and 13 other progressive Democrats who opposed sanctions, called for restoration of diplomatic relations between the two nations was ignored.

INTERVIEW: Economic Sanctions to Hurt EU, Benefit Russia

May 28th, 2014
Categories: News, World, Economic, Politics

Link: http://en.ria.ru/russia/20140528/190197888/INTERVIEW-Economic-Sanctions-to-Hurt-EU-Benefit-Russia.html

Economic sanctions against Russia, the European Union will hurt its own importers, while Russia will only benefit from the restrictions which will stop capital outflow, reorganize its financial system and stimulate import-substituting production, Russian presidential aide Sergei Glazyev told RIA Novosti.

Putin Says Russia, China Need To Ensure Security Of Their Gold Reserves

May 28th, 2014
Categories: News, World, Economic, Politics

Link: http://www.blacklistednews.com/Putin_Says_Russia%2C_China_Need_To_Ensure_Security_Of_Their_Gold_Reserves/35543/0/0/0/Y/M.html

Russia dumping record amount of Treasurys, buying gold, 900,000 ounces continues to purchase gold, certainly won't be storing its physical metal with any of the western Central Banks. China and Russia consider further steps to shift to national currencies in bilateral transactions.

Exxon, BP Defy Obama; Extend Partnership with Russia

May 28th, 2014
Categories: News, World, Economic, Politics

Link: http://www.blacklistednews.com/Exxon%2C_BP_Defy_Obama%3B_Extend_Partnership_with_Russia/35529/0/38/38/Y/M.html

largest oil companies in the world ExxonMobil and BP separately signed agreements with Rosneft – Russia’s state-owned oil companyto extend and deepen their relationships for energy exploration. Partnership to build liquefied natural gas (LNG) terminal on Russia’s pacific coast.

Judges Approve USDA Confiscating Farmers' Harvests

May 28th, 2014
Categories: News, Economic, Politics, Police State

Link: http://www.blacklistednews.com/Judges_Approve_USDA_Confiscating_Farmers%27_Harvests/35542/0/0/0/Y/M.html

Ninth U.S. Circuit Court of Appeals ruled that the U.S. Department of Agriculture taking 47% of a farmer's harvest does not violate the Fifth Amendment's takings clause as long as the government aims to drive up crop prices.

New Ukraine government launches airstrikes, prepares austerity measures

May 27th, 2014
Categories: News, World, Economic, Politics, Police State

Link: http://www.wsws.org/en/articles/2014/05/27/ukra-m27.html

Air strikes against pro-Russian separatist forces that took control of Donetsk International Airport. Mortar fire in Slovyansk. IMF loan contingent on deep cuts to gas subsidies. Currency devaluation, bailouts for country’s major banks, wage cutting, privatization of services, mass layoffs, spending cuts.

Government Plan Would Transform Israel Into The World’s First Cashless Society

May 26th, 2014
Categories: News, Zionism, Middle East, Economic, Politics, Police State

Link: http://www.blacklistednews.com/Government_Plan_Would_Transform_Israel_Into_The_World%E2%80%99s_First_Cashless_Society/35500/0/38/38/Y/M.html

Plan to do away with cash transactions in Israel. Individuals and businesses still permitted to conduct cash transactions in small amounts, goal to force citizens to conduct business using electronic payment. Believe “cash is bad,” fuels underground economy, allows people to avoid paying taxes.

Central Bank of Russia shuts offices of nine Ukrainian banks in Crimea

May 26th, 2014
Categories: News, World, Economic, Politics

Link: http://en.itar-tass.com/economy/733276

Russia’s central bank has prohibited the offices of nine Ukrainian banks in Crimea to continue their operations. The banking authority said this in a statement on Monday. Depositors will be compensated by recently established fund to protect rights of depositors in Crimea, the central bank said.

EU ready to sign free trade zone agreement with Ukraine

May 26th, 2014
Categories: News, World, Economic, Politics

Link: http://voiceofrussia.com/news/2014_05_26/EU-ready-to-sign-free-trade-zone-agreement-with-Ukraine-3150/

European Parliament delegation head Goeran Faerm: European Union ready to sign free trade zone agreement with Ukraine, continue talks on visa-free travel, provide Ukraine with foreign political, financial assistance.

The Road to Recovery Must Pass Through Tax Reform

May 24th, 2014
Categories: News, Economic

Link: http://economyincrisis.org/content/32889

Our tax system is incredibly burdensome, costing Americans millions of dollars and wasting money that could be spent paying the bills. Our corporate tax rate is one of the highest in the world, making us less competitive in the global marketplace.

Transatlantic Trade Pact: Literally and Figuratively Toxic

May 24th, 2014
Categories: News, Economic

Link: http://voiceofrussia.com/us/news/2014_05_24/Transatlantic-Trade-Pact-Literally-and-Figuratively-Toxic-9937/

WASHINGTON (VR)— This week saw the fifth round of secret negotiations between the US and the EU on the Transatlantic Trade and Investment Partnership (TTIP), which is designed to cement the hegemony of multinational corporations, in part by providing channels for them to avoid environmental, safety, and labor regulations that could impinge on their profitability.

Amid More Recalls, GM Sees Strong Sales

May 23rd, 2014
Categories: News, Economic

Link: http://voiceofrussia.com/us/news/2014_05_24/Amid-More-Recalls-GM-Sees-Strong-Sales-0672/

There is more trouble for auto giant General Motors. Nearly two-hundred thousand cars made by the Detroit giant for Japanese automaker Suzuki are being recalled as steering columns in the Suzuki Forenza and Reno models manufactured between 2003 and 2008 could catch on fire. The cars were made in South Korea by GM, for Suzuki, but sold in the US.

The Robots Are Coming, And They Are Replacing Warehouse Workers And Fast Food Employees

May 23rd, 2014
Categories: News, World, Economic, Science

Link: http://theeconomiccollapseblog.com/archives/the-robots-are-coming-and-they-are-replacing-warehouse-workers-and-fast-food-employees

Amazon will be using 10,000 robots in its warehouses by end of year to fulfill customer orders. UBR-1, 4-foot tall robot could perform tasks done by human workers. Can work alongside humans or autonomously in workspace filled with people. Costs $50,000, can work all day and all night.

Barclays Fined For Manipulating Price Of Gold For A Decade; Sending "Bursts" Of Sell Orders

May 23rd, 2014
Categories: News, World, Economic

Link: http://www.blacklistednews.com/Barclays_Fined_For_Manipulating_Price_Of_Gold_For_A_Decade%3B_Sending_%22Bursts%22_Of_Sell_Orders/35418/0/0/0/Y/M.html

Financial Conduct Authority announced that it fined Barclays £26 million for manipulating "the setting of the price of gold in order to avoid paying out on a client order, by placing, withdrawing and re-placing a large sell order for between 40,000 oz and 60,000 oz of gold bars.

Sanctions will have boomerang effect on West - Putin

May 23rd, 2014
Categories: News, World, Economic, Politics

Link: http://www.democraticunderground.com/1014810135

Criticising the United States, he said the vision of a "unipolar" world had failed and hailed European companies for taking a more "pragmatic" approach to Russia. The European Union, heavily reliant on Russian gas supplies, has been more reluctant than Washington to impose tough sanctions on Russia.

Colorado’s Marijuana Legalization Creates 10,000 New Jobs

May 23rd, 2014
Categories: News, Economic, Politics, Health

Link: http://naturalsociety.com/colorados-marijuana-legalization-creates-10000-new-jobs/

Colorado is reporting 10,000 new jobs, all from the legalization of both recreational and medical marijuana, doesn’t include jobs created by medical marijuana sales. $40 million in tax revenue in the first year. The state now enjoying one of the lowest unemployment rates in the nation – 6%.

Turkey begins exporting Iraqi Kurdistan oil-Video

May 22nd, 2014
Categories: News, World, Economic

Link: http://www.presstv.ir/detail/2014/05/22/363737/turkey-exports-iraqi-kurdistan-oil/

Turkey’s Energy Minister Taner Yildiz says the country has begun exporting the first cargo of crude oil from Iraq’s semi-autonomous Kurdistan region to international markets. The Turkish minister declined to comment on the buyer as the sale was carried out by the Iraqi Kurdistan.

Lawmakers warn Russian banks against giving up data under US FATCA

May 22nd, 2014
Categories: News, World, Economic, Politics

Link: http://rt.com/politics/160764-russian-banks-fatca-ban/

The head of the Lower House financial markets committee: until Russia passes a law, any report to US tax authorities about a client accounts in Russian banks would be violation of bank secrecy. MP Natalya Burykina (United Russia): bank employees who permit it could face criminal prosecution.

Modern-day slavery a $150bn-a-year business – UN report

May 21st, 2014
Categories: News, World, Economic, Police State

Link: http://rt.com/news/160460-un-slavery-billions-profits/

UN: 21 million people are working as modern day slaves, victim to trafficking, forced labor and sexual exploitation, The illicit market in exploited people generates billions of dollars in profit worldwide. remains virtually invisible, hidden behind a wall of coercion, threats and economic exploitation.

Unemployment and Poverty Have Stricken Record Numbers of Americans

May 21st, 2014
Categories: News, Economic

Link: http://economyincrisis.org/content/unemployment-and-poverty-have-stricken-record-numbers-of-americans

According to an article by Huffington Post business writer, Hope Yen, about 4 out of 5 adults in the U.S. are jobless, near-poverty level or rely heavily on government assistance for at least some of their day-to-day needs.

Ukraine rejects Russia’s demand to prepay for gas-Video

May 20th, 2014
Categories: News, World, Economic, Politics, Police State

Link: http://www.presstv.ir/detail/2014/05/20/363473/kiev-not-to-prepay-for-russian-gas/

Ukraine warned future gas shipments stop June 3 if not paid for in advance. Kiev refused to pay for natural gas upfront as a protest to Russia’s decision to almost double former gas prices. Russia willing to resume gas talks with Ukraine if the European country settles part of its gas debt.

Swiss bank admits to helping wealthy Americans avoid taxes, fined $2.6 bn

May 19th, 2014
Categories: News, World, Economic, Politics

Link: http://rt.com/business/160064-credit-suisse-guilty-tax-evasion/

Swiss bank Credit Suisse pleaded guilty Monday to the charge that it facilitated wealthy Americans who sought to commit tax evasion, becoming the first major bank to admit criminal wrongdoing in over 20 years and agreeing to pay $2.6 billion in fines.

Here's The Painful Truth About What It Means To Be 'Working Poor' In America

May 19th, 2014
Categories: News, Economic

Link: http://www.huffingtonpost.com/2014/05/19/working-poor-stories_n_5297694.html?ir=Politics

In a nation that has long operated on the principle that an "American Dream" is available to anyone willing to try hard enough, the term "working poor" may seem to have a bright side. Sure, these individuals struggle financially, but they have jobs -- the first and most essential step toward lifting oneself out of poverty, right?

'It’s a dead end': German FM joins chorus of discontent over Russia sanctions rhetoric-Video

May 18th, 2014
Categories: News, World, Economic, Politics

Link: http://rt.com/news/159716-germany-sanctions-russia-criticism/

German Foreign Minister Frank-Walter Steinmeier called for restraint in imposing new sanctions on Russia, politicians, businesses and general public in Germany skeptical of putting more pressure on Moscow. Preferred "cooperation instead of confrontation" with Moscow.

Switzerland votes to reject world’s highest minimum wage, projections say

May 18th, 2014
Categories: News, World, Economic, Politics

Link: http://rt.com/news/159720-switzerland-vote-highest-wage/

The Swiss voted to reject a minimum wage of $4,515 a month, around $25, hourly salary. Would be highest in the world. Advocatesargue it is a necessary measure, opponents say it would seriously damage the economy. Average salary in Switzerland is 29,000 euro a year around $40,000.

Gazprom head soothes Europe over gas supply

May 17th, 2014
Categories: News, World, Economic, Politics

Link: http://www.cnbc.com/id/101682490

Russia's Gazprom assured European customers it would continue to supply their gas, after threat to halt supplies to transit nation Ukraine over non-payment.chief executive Alexei Miller: Any shortfall would be fault of Ukraine. Moscow blamed theft by Ukraine for disruption to exports in previous dispute.

Record Balkan floods: Over 20 killed, tens of thousands forced to flee (PHOTOS)

May 17th, 2014
Categories: News, Nature, World, Economic

Link: http://rt.com/news/159612-serbia-bosnia-flood-killed/

Over 20 killed in worst flooding on record across the Balkans. Tens of thousands evacuated, 250,000 homeswithout power. Serbia's Prime Minister Aleksandar Vucic: This is the greatest flooding disaster ever. Not just in the past 100 years; this has never happened in Serbia's history,"

US Politicians Line Pockets With Funds From Ecuador's Billionaire Bankers on the Lam in US

May 16th, 2014
Categories: News, World, Economic, Politics, Police State

Link: http://truth-out.org/opinion/item/23722-the-best-protection-money-can-buy-us-politicians-line-pockets-with-funds-from-ecuadors-billionaire-bankers

Brothers, Robert ,William Isaias, sentenced 8 years prison for embezzlement, defrauded bank they owned. It collapsed; loss of $400 million, fled to Florida. Life of lavish luxury. Avoid jail by campaign donations to American politicians for"safety" from law. Ecuador President Correa calls for extradition.

Visa, MasterCard Better Off Quitting Russia, Morgan Stanley Says

May 15th, 2014
Categories: News, Economic

Link: http://www.themoscowtimes.com/business/article/visa-mastercard-better-off-quitting-russia-morgan-stanley-says/500169.html

New legislation placing foreign payment service providers under the thumb of Russian regulators is so damaging to Visa and MasterCard that the two U.S. companies might be better off abandoning the Russian market, according to research by investment bank Morgan Stanley.

US Mine Safety Unchanged Since Major Accidents in 2007

May 15th, 2014
Categories: News, Economic

Link: http://voiceofrussia.com/us/news/2014_05_16/US-Mine-Safety-Unchanged-Since-Major-Accidents-in-2007-6114/

American coal mines are more regulated than they were before mining accidents in West Virginia and Utah in 2007, but the United States has basically the same mining regulations as it did before those deadly accidents, said Steven Sandbrook, president and owner of Eagle Mine Safety in Nazareth, Pennsylvania.

Low Wage Fast Food Workers Protests Rock US

May 15th, 2014
Categories: News, Economic

Link: http://voiceofrussia.com/us/news/2014_05_16/Low-Wage-Fast-Food-Workers-Protests-Rock-US-7588/

Thursday saw the latest wave of protests in an 18 month-old campaign to improve the lamentable conditions obtaining for low-wage workers in the US.

County in Florida Rejects Spending $800,000 to Fluoridate Water Supply

May 15th, 2014
Categories: News, Nature, Environment, Economic, Politics, Science, Health

Link: http://naturalsociety.com/county-florida-debates-spending-800000-fluoridate-water-supply/

Hernando County, Florida were debating spending $800,000 in tax-payer money to fluoridate water few months ago. This is what it would cost to put leftovers from phosphate fertilizer, semiconductor industries into everyone’s water. They decided against fluoridating the water supplies.

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