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Articles Posted by Lorianne

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  • Did the War in Libya Prove Hawks Right or Wrong?

    07/29/2014 8:19:56 AM PDT · by Lorianne · 10 replies
    The Atlantic ^ | 29 July 2014 | Conor Friedersdorf
    The unintended consequences of military intervention are nearly impossible to predict. ___ "Islamist militants armed with antiaircraft weapons and rocket-propelled grenades stormed a lightly defended United States diplomatic mission in Benghazi, Libya," The New York Times reported on September 12, 2012. " The attack, which killed the American ambassador and three staffers, would ultimately reveal that the CIA was running a secret mission out of Benghazi. Ross Douthat: The worst-case situation has not come to pass in Libya itself. But thanks to the ripple effects from Colonel Qaddafi’s fall, it’s well on its way to happening in nearby Mali. Not...
  • French unemployment hits new record in June

    07/25/2014 4:04:36 PM PDT · by Lorianne · 6 replies
    EuroNews ^ | 25 July 2014
    The number of people without a job in France rose in June to a new record. The Labour Ministry said the unemployment total in mainland France rose by 9,400 to 3,398,300. That is a 4.0 percent increase on June last year and up 0.3 percent from May. It is another blow to Socialist President Francois Hollande.
  • Company In Which Joe Biden's Son Is Director Prepares To Drill Shale Gas In East Ukraine

    07/25/2014 4:00:10 PM PDT · by Lorianne · 11 replies
    Zero Hedge ^ | 25 July 2014 | Tyler Durden
    Recall what we said earlier today: the proxy Ukraine war just like that in Syria preceding it, "is all about energy." Recall also the following chart showing Ukraine's shale gas deposits, keeping in mind that the Dnieper-Donets basin which lies in the hotly contested eastern part of the nation and where as everyone knows by now a bloody civil war is raging, is the major oil and gas producing region of Ukraine accounting for approximately 90 per cent of Ukrainian production and according to EIA may have 42 tcf of shale gas resources technically recoverable from 197 tcf of risked...
  • S&P faces fraud charges over mortgage ratings

    07/24/2014 8:22:06 PM PDT · by Lorianne · 6 replies
    CNBC/Financial Times ^ | 23 July 2014 | Kara Scannell
    Standard & Poor's may face securities fraud charges for ratings given to six commercial mortgage-backed securities issued in 2011, the credit rating company said. The potential civil lawsuit is the latest legal issue for the credit rating company, which along with its competitors have faced intense regulatory scrutiny following the financial crisis. S&P, a unit of McGraw Hill, disclosed on Wednesday that it had received a Wells notice from the Securities and Exchange Commission indicating its enforcement division staff intended to recommend that the five member commission authorize civil charges against the company. "S&P has been co-operating with the commission...
  • Eurozone economy dead in the water, with crisis expected to carry on 'a long time'

    07/24/2014 8:13:54 PM PDT · by Lorianne · 12 replies
    Telegraph (UK) ^ | 22 July 2014 | Jeremy Warner
    It's taken a long time, but the International Monetary Fund finally seems to be talking some sense about the beleaguered deficit economies of the eurozone. In a new analysis of continuing imbalances within the single currency area, it pretty much concludes that the situation is hopeless without the sort of eurozone-wide macro economic policies – monetary as well as fiscal – which are specifically rejected by the high command in Berlin. OK, so it doesn't quite say that, but even so, this will make deeply depressing reading for the struggling economies of Greece, Ireland, Italy, Portugal and Spain.
  • Stalled recovery leaves Europe defenceless against economic shock from Russia

    07/24/2014 8:12:12 PM PDT · by Lorianne · 4 replies
    Telegraph (UK) ^ | 23 July 2014 | Ambrose Evans-Pritchard
    Stagnation is automatically causing debt ratios to spiral upwards yet again across a large part of the currency bloc ___ Europe's economic recovery has stalled. The EMU policy elites took a fateful gamble that global growth alone would lift the eurozone off the reefs, without the need for serious monetary stimulus or a reflation package to ensure take-off velocity. Their strategy has failed. The Bundesbank says German growth may have slumped to zero in the second quarter. French industrial output has fallen for three months in a row. French business surveys point to an outright contraction of GDP, with a...
  • Ukraine’s prime minister quits

    07/24/2014 8:09:26 PM PDT · by Lorianne · 6 replies
    Financial Times ^ | 24 July 2014 | Mark Odell
    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/fd99c65c-1347-11e4-84b7-00144feabdc0.html#ixzz38Rii5rLH Arseniy Yatseniuk, Ukraine’s prime minister, resigned on Thursday after two parties quit the ruling coalition government in a move designed to trigger early elections. The country’s new president, Petro Poroshenko, signalled his support for new polls, which are expected by the end of October. The dissolution of the coalition was expected after Mr Poroshenko promised to call parliamentary elections after he...
  • CNN Poll: Is Obamacare working? [59% still oppose]

    07/23/2014 7:50:27 AM PDT · by Lorianne · 12 replies
    CNN ^ | CNN Political Unit
    A CNN/ORC International survey also indicates that a majority of Americans oppose the Affordable Care Act, but that some of that opposition is from people who don't think the measure goes far enough. The poll, conducted this past weekend, was released on Wednesday, one day after a federal appeals court upheld Obamacare tax subsidies. That ruling came just a couple of hours after a separate appeals court struck down such subsidies for the millions of Americans enrolled in the federal government's HealthCare.gov exchange. According to the poll, only 18% of the public say they or their families are better off...
  • Exchange You Can Believe In

    07/22/2014 7:39:40 PM PDT · by Lorianne · 5 replies
    Steyn Online ^ | 22 July 2014 | Mark Steyn
    Earlier today the District of Columbia Circuit Court announced that the federal health-care "exchange" was illegal on the grounds that Congress had only legislated for state health-care "exchanges". For non-American readers, I suppose I should make an effort at explaining what an "exchange" is, but Lord Almighty, it's a pain. A year ago, "exchange" was something to do with stocks or taking that purple sweater back to the store after Christmas. But by the fall it was the latest exciting jargon-barnacle to encrust to the hulk of American health care: "co-pay", "HSA", "Cobra", "donut hole", etc, etc - and now...
  • White House 'Quietly' Exempts 4.5 Million People In 5 "Territories" From Obamacare

    07/20/2014 7:18:51 PM PDT · by Lorianne · 27 replies
    Zero Hedge ^ | 20 July 2014 | Tyler Durden
    As WSJ reports, last week's geopolitical chaos and distraction was ideal for a news dump, and the White House didn't disappoint: On no legal basis, all 4.5 million residents of the five U.S. territories were quietly released from ObamaCare. It seems the costs of healthcare soared in these five territories due to uneconomic mandates - which woul dhave been a disaster PR-wise for the administration and so, under cover of catastrophe, WSJ reports all of a sudden last week HHS discovered new powers after "a careful review of this situation and the relevant statutory language," that enabled them to 'selectively...
  • The Growth in Multi-generational Family Households

    07/17/2014 2:50:58 PM PDT · by Lorianne · 11 replies
    Pew Research ^ | 17 July 2014 | Richard Fry and Jeffrey S. Passel
    multi-generational households reflects more than the overall increase in the U.S. population. From 2009 to 2012, the number of people living in multi-generational households increased from 51.5 million to 56.8 million. Over that same time period, the share of the population living in multi-generational households rose from 16.8% to 18.1%. From 2007 to 2010, the multi-generational population grew substantially—swelling by well over 2 million people per year. Since 2010, the multi-generational population has increased at a slower rate—roughly 1 million per year.
  • Today's Horrific Housing Report Was All About One US Region

    07/17/2014 2:48:02 PM PDT · by Lorianne · 15 replies
    Business Insider ^ | 17 July 2014 | Mamta Badkar
    Earlier Thursday morning we saw that housing starts unexpectedly plunged 9.3% to an annualized rate of 893,000. On the face of it, the report was ugly, considering all the talk about the recent housing snapback. It's important to note that the miss was entirely due to one region: the South. Housing starts plunged 29.6% in the South, driven by weakness in single-family units. "All the hit is in the south, where starts plunged by 29.6%, the biggest ever monthly drop, despite gains in each other region," wrote Ian Shepherdson at Pantheon Macroeconomics.
  • Airbus Seeking Patent For Bicycle Seats Because Flying Isn’t Uncomfortable Enough Already

    07/14/2014 6:21:39 PM PDT · by Lorianne · 50 replies
    The Consumerist ^ | 14 July 2014 | Mary Beth Quirk
    While you’re fighting for territory on the arm rest and suffering the kicks, nudges and otherwise annoying seat disturbances that come with flying commercial airlines, just think… it could be worse. How much worse? Like perching on a bicycle seat worse. Airbus submitted a patent in Europe for the seats, with have small backrests but no tray tables or headrest, reports the Los Angeles Times. And legroom? Keep dreaming. The pared down design is an attempt to cut down on bulk, which in turn allows for more sardined passengers and ostensibly, more money. “In effect, to increase the number of...
  • House panel: O-Care 'bailout' could cost $1B this year alone

    07/14/2014 12:00:23 PM PDT · by Lorianne · 10 replies
    The Hill ^ | 18 June 2014 | Ferdous Al-Faruque
    An ObamaCare revenue-sharing program amounts to a taxpayer bailout of insurance companies, the chairman of a House Oversight subcommittee said Wednesday, adding the bill could run more than $1 billion just in 2014. Rep. Jim Jordan (R-Ohio), chairman of the Economic Growth, Job Creation and Regulatory Affairs panel, disputed a previous Congressional Budget Office (CBO) report that the risk corridors would cost the government nothing. ADVERTISEMENT “The American people have a right to know how much these backdoor bailouts will cost,” Jordan said. “While I have great respect for the analysts at CBO, their findings in this area did not...
  • For sale: A entire village in the Italian Alps — with an asking price of just $354,000

    07/13/2014 12:01:16 PM PDT · by Lorianne · 15 replies
    National Post/Telegraph ^ | 07 July 2014 | Nick Squires
    A picturesque village in the Italian Alps has been put up for sale on eBay, with a starting price of just $354,000. There is just one catch: many of the 14 timber and stone houses and 50 outbuildings in the mountain village are abandoned and would cost hundreds of thousands of dollars to restore. One condition of the sale is that the houses must retain their distinctive architectural features and that they be restored according to local traditions. The village lies just outside the Gran Paradiso National Park, a vast protected area of mountain peaks and valleys teeming with ibex,...
  • Bill of Sale

    07/13/2014 11:27:00 AM PDT · by Lorianne · 5 replies
    Steyn Online ^ | 07 July 2014 | Mark Steyn
    Toronto Dominion is a Canadian bank which also operates south of the border under the amusing name of "TD - America's Most Convenient Bank®". It's certainly proved remarkably convenient for Bill Clinton. TD has paid millions to the future first First Gentleman of the United States, during his wife's tenure as Secretary of State and in her ongoing role as designated President-in-Waiting. What exactly are they paying for? Speeches? He's less dull a public speaker than the average politician, or average former president (Gerald Ford, say). But nothing he says would seem to merit, for example, the $525,000 TD paid...
  • Bulgaria to allow its fourth-biggest bank to collapse

    07/13/2014 9:52:24 AM PDT · by Lorianne · 4 replies
    CNBC/Reuters ^ | 11 July 2014
    Bulgaria is to allow its fourth-biggest lender to collapse and will hive off its healthy activities into a separate bank as it moves to clear up the mess from the country's worst financial scandal since the 1990s. The central bank said it was removing Corporate Commercial Bank's (Corpbank) license and alerting prosecutors to the possibility that its main shareholder stole money from the bank just before the central bank took over its operations. The scandal broke last month when Corpbank clients unnerved by media reports accusing top shareholder Tsvetan Vassilev of shady business deals dashed to withdraw their savings. The...
  • Economists don't expect US recession - NABE survey

    07/13/2014 9:46:08 AM PDT · by Lorianne · 12 replies
    CNBC ^ | 11 July 2014 | Karma Allen
    Although economists have trimmed their estimates for second-quarter U.S. gross domestic product (GDP) growth, they don't believe the economy will hit a recession this year or next. The panelists' median forecast for annual second-quarter 2014 real GDP growth is 3 percent, down from the 3.5 percent median forecast when the full Outlook survey was last released in June. But in a positive sign, economists said the probability of the U.S. economy entering a recession in 2014 or 2015 is extremely low, with 60 percent of panelist saying the odds were less than 10 percent.
  • Retailers Have Given Some Discouraging Commentary About The US Economy To Start Earnings Season

    07/13/2014 9:41:45 AM PDT · by Lorianne · 9 replies
    Business Insider ^ | 11 July 2014 | Myles Udland
    Something seems off in the economy. Over a three-week span starting next Monday, 72% of the S&P 500's members will report earnings, but some of the early indications about this earnings season, especially from companies highly exposed to the U.S. consumer, have not been encouraging. On Tuesday afternoon, two companies that are all about consumer spending, Bob Evans and The Container Store, reported earnings that were disappointing. But even more discouraging were the comments from company executives. Bob Evans, which wrapped up its fiscal year 2014 in its most recent quarter, said its results were impacted by severe weather (an...
  • Slowing Customer Traffic Worries U.S. Retailers

    07/13/2014 9:36:23 AM PDT · by Lorianne · 20 replies
    Wall Street Journal ^ | 10 July 2014 | Shelly Banjo
    American retailers may have more than a weather problem. Family Dollar said fewer shoppers came into its stores in the three months through May 31, pushing sales down 1.8%, excluding newly opened or closed stores. In a move to win back traffic, the dollar chain said it would begin carrying beer and wine nationally next year, adding to the tobacco, frozen food and other consumables that now make up 73% of sales. “Our results continue to reflect the economic challenges facing our core customer and an intense competitive environment,” Chief Executive Howard Levine said. The discounter’s message echoed that of...
  • The Wall Street “Escape Velocity” Scam: GDP Forecasts Fizzling For Fourth Straight Year

    07/13/2014 9:32:09 AM PDT · by Lorianne · 9 replies
    Conta Corner ^ | 13 July 2014 | David Stockman
    There is nothing more predictable than the bevy of Wall Street economists who come charging out of the blocks early each year proclaiming that money printing by the Fed will finally work its magic, and that real GDP growth will hit “escape velocity”. But this year the markdowns have come fast and furious. After the disaster of Q1 and the limp data reported for Q2 to-date, the revised consensus outlook for 2014 at 1.7% is already below the tepid actual results of the last three years. So much for the year when “screaming” growth was certain to happen. The graph...
  • CalPERS Ex-CEO Buenrostro Guilty Plea Explains Why Bankers Make So Much Money

    07/13/2014 9:29:08 AM PDT · by Lorianne · 5 replies
    Forbes ^ | 13 July 2014 | Tim Worstall
    The ex-CEO of CalPERS, Fred Buenrostro, has just pleaded guilty to accepting doucers, cash bribes and fees for placing investment business with a specific firm. The economic point that this helps us elucidate is why bankers and fund managers make such vast incomes normally. It’s a concept called “efficiency wages”. Essentially, when stripped right down, if people are handling or responsible for a large amount of money then pay them very well. So that it’s not actually worth their trying to do anything naughty, the risk of losing that high income is greater than what they can gain by being...
  • Falling North Sea oil revenue 'to hit government finances'

    07/11/2014 3:02:31 PM PDT · by Lorianne · 6 replies
    BBC News ^ | 10 July 2014
    Dwindling revenue from North Sea oil will increase the pressure on government finances over the coming decades, according to the Office for Budget Responsibility (OBR). The OBR has cut its estimate of tax income from the North Sea between 2020 and 2041 by a quarter, to £40bn. The fall is down to lower production forecasts over the next few years. But its assessment was dismissed as "stuff and nonsense" by Scottish First Minister Alex Salmond. The Scottish government has argued that the OBR figures are based on a "very low estimate of future total production", which resulted in them being...
  • Poor man’s polar vortex to make shocking summer return in eastern U.S. next week

    07/11/2014 1:20:13 PM PDT · by Lorianne · 12 replies
    Washington Post ^ | 10 April 2014 | Jason Samenow
    Call it the ghost of the polar vortex, the polar vortex sequel, or the polar vortex’s revenge. Meteorological purists may tell you it’s not a polar vortex at all. However you choose to refer to the looming weather pattern, unseasonably chilly air is headed for parts of the northern and northeastern U.S at the height of summer early next week.
  • Here's what's happening in Portugal [banks]

    07/11/2014 12:44:59 PM PDT · by Lorianne · 7 replies
    CNBC ^ | 10 July 2014 | Matt Clinch
    As stock markets around the world fell amid a wide-spread sell-off Thursday, many investors were pointing fingers at the European country of Portugal and concerns over the health of one of its lenders as the root cause of the day's troubles. Here's a brief look at why we should be worried about Portugal. Why is this happening? After several months of rumbling, Portuguese conglomerate Espírito Santo International this week delayed payments to some of the holders of its short-term debt securities. Its Swiss banking arm Banque Privee Espirito Santo is at the center of the concerns after it failed to...
  • Thursday Humor: The New US Tax Return

    07/10/2014 4:16:48 PM PDT · by Lorianne · 1 replies
    Zero Hedge ^ | 10 July 2014 | Tyler Durden
  • A Harsh Climate Calls for Banishment of the Needy [Norway]

    07/10/2014 7:51:07 AM PDT · by Lorianne · 27 replies
    New York Times ^ | 09 July 2014 | Andrew Higgins
    LONGYEARBYEN, Norway — As governor of Norway’s northernmost territory, Odd Olsen Ingero commands a police force with just six officers and a single detention cell for an area twice the size of New Jersey. Even that is overkill: Nobody has been locked up here in the capital of Svalbard since last summer. And that was for just two days. It is not just that there are not many people — fewer than 3,000 are officially registered as residents — or that what are elsewhere run-of-the-mill crimes like car theft are an exotic and very risky business in a place where...
  • Islamic State-Loose Artillery Shell on the Deck of the Ship of History-James Howard Kunstler

    07/09/2014 6:38:30 PM PDT · by Lorianne · 8 replies
    USA Watchdog ^ | 09 July 2014 | Greg Hunter
    Veteran journalist and author, James Howard Kunstler, is worried about the violence heating up in the Middle East–especially Saudi Arabia. Kunstler says, “Saudi Arabia is between a rock and a hard place, or should I say Iraq and a hard place. Both sides that are now contending in Iraq, the Shiite and the Islamic State or caliphate, are both not friendly with Saudi Arabia. When we talk about Saudi Arabia, we have to make a distinction. We are really talking about the Saud Family and their Kingdom and their gripe on the Kingdom. . . . Now, they are stuck...
  • 'America Has Ceased to Exist': Investment Guru Doug Casey on the Coming Economic Meltdown

    07/09/2014 6:28:27 PM PDT · by Lorianne · 32 replies
    Reason ^ | 25 June 2014 | Nick Gillespie & Amanda Winkler
    "America is a marvelous idea, a unique idea, fantastic idea. I'm extremely pro-American. But America has ceased to exist," declares Doug Casey, an economist and author most recently of Right on the Money. He has also produced a new documentary called Meltdown America which predicts the economic and political unraveling of the U.S. Casey recently sat down with Reason TV's Nick Gillespie to discuss the political, social, and economic challenges the US must conquer as well as lessons we can learn from failed states. [Video at site] About 15 minutes.
  • Mexico’s cartel-fighting vigilantes get closer to the Texas border

    07/09/2014 3:23:09 PM PDT · by Lorianne · 2 replies
    Global Post ^ | 08 July 2014 | Ioan Grillo
    Armed residents are taking on the feared Zetas cartel in Tamaulipas state. One desperate town’s mayor applauds them ___ HIDALGO, Mexico — The gunmen nabbed watermelon farmer Jesus Manuel Guerrero as he drove from his ranch to buy supplies and held him for five painful days in the trunk of a car. When family members finally paid a $120,000 ransom and they released him, he was urinating blood. He’s just one of hundreds of victims of a wave of kidnapping that’s swept this once peaceful farming town, about 130 miles south of Texas. But almost three years after his brutal...
  • Bill Still inteviews NSA whistleblower William Binney

    07/08/2014 1:03:16 PM PDT · by Lorianne · 13 replies
    You Tube ^ | June 2014, July 2014 | Still/Binney
    https://www.youtube.com/watch?v=bm-WA6XnBuc PART 1 https://www.youtube.com/watch?v=oQ5Tatq73Tw PART 2 https://www.youtube.com/watch?v=BwpyS3IJIrs PART 3 https://www.youtube.com/watch?v=QPcyGxcZtoQ PART 4 https://www.youtube.com/watch?v=--4Nka4_v_Q PART 5 https://www.youtube.com/watch?v=ooBiByfsEfk PART 6
  • Egypt to raise fuel prices by up to 78 percent from midnight

    07/07/2014 7:05:48 PM PDT · by Lorianne · 8 replies
    Reuters ^ | 04 July 2014
    Egypt was set to raise mainstream fuel prices by up to 78 percent from midnight on Friday, an Oil Ministry source told Reuters, in a long-awaited step to cut energy subsidies to ease the burden on its swelling budget deficit. Food and energy subsidies traditionally eat up a quarter of state spending. The government is cutting subsidies in hopes of reviving an economy battered by more than three years of political turmoil. Successive governments have failed to curb energy product subsidies, fearing backlash from a public used to cheap fuel. "The increase will start being implemented by midnight," the source...
  • It's politics, not science, driving climate mania:[extra long title from UK]

    07/07/2014 11:18:54 AM PDT · by Lorianne · 12 replies
    Guardian (UK) ^ | 05 July 2014 | Andrew Mountford
    For years, computer simulations have predicted that sea ice should be disappearing from the Poles. Now, with the news that Antarctic sea-ice levels have hit new highs, comes yet another mishap to tarnish the credibility of climate science. Climatologists base their doom-laden predictions of the Earth’s climate on computer simulations. But these have long been the subject of ridicule because of their stunning failure to predict the pause in warming – nearly 18 years long on some measures – since the turn of the last century. It’s the same with sea ice. We hear a great deal about the decline...
  • The changing correlation between the S&P 500 and oil

    07/05/2014 5:19:57 PM PDT · by Lorianne · 6 replies
    World Complex ^ | 02 July 2014 | mickeyman
    Today we investigate the relationship between oil and the broad US market, using the S&P 500 index as a proxy. A common thought is that the two functions are inversely correlated, with the US market in danger whenever oil rises too high. The relationship has been a complex one over the past 11 years, but the correlation is positive most of the time. In particular, we see from 2003 until late 2007, both oil and the market rose in tandem. The only time the two records show an inverse correlation was during the windup to the financial crisis--from late 2007...
  • GM switch complaints began 17 years ago, long before Cobalt

    07/05/2014 5:13:15 PM PDT · by Lorianne · 15 replies
    Reuters ^ | 04 July 2014 | Paul Lienert
    General Motors car owners have been complaining to dealers about defective ignition switches since 1997, years before the automaker launched the Chevrolet Cobalt and other small cars with faulty switches linked to at least 13 deaths. GM this week expanded its recall of cars with switch issues by more than 8 million, but it did not indicate when it first learned of problems in cars including the 1997 Chevrolet Malibu and the 2000 Chevrolet Impala. A Reuters review of a consumer complaints database maintained by U.S. safety regulators showed that GM dealers were told of switch-related defects almost as soon...
  • IMF warns of negative spiral in France as recession looms again

    07/05/2014 5:06:52 PM PDT · by Lorianne · 6 replies
    Telegraph (UK) ^ | 03 July 2014 | Ambrose Evans-Pritchard
    France has sunk into an economic malaise and could take years to climb back out ___ France is on the cusp of a fresh recession as services contract sharply and the country braces for yet another round of austerity cuts, with record jobless levels likely to bedevil Francois Hollande’s presidency for years to come. Markit’s PMI services gauge for France fell for the third month to 48.2 in June, pointing to an outright fall in GDP following zero growth in the first quarter. The International Monetary Fund cut its growth forecast this year from 1pc to 0.7pc, warning that there...
  • Can Sweden avert ‘Nordic Japan’ fate?

    07/05/2014 5:04:11 PM PDT · by Lorianne · 16 replies
    CNBC ^ | 03 July 2014 | Catherine Boyle
    Swedish central bank meetings are generally as staid as you'd expect, but they have just got a lot more interesting, as the Nordic country contemplates the specter of Japan-style stagnation. On Thursday, the Riksbank, Sweden's central bank, cut its main policy rate by 50 basis points to 0.25 percent, surprising the market, as most economists had forecast a 25 basis points cut to 0.5 percent. The Swedish krona tumbled to its lowest level against the dollar for close to a year, and its lowest level against the euro for more than three years, following the news.
  • US jobs report shows growth in part-time, low-wage work

    07/05/2014 5:02:00 PM PDT · by Lorianne · 22 replies
    World Socialist Web Site ^ | 04 July 2014 | Andre Damon
    The Obama administration seized on the jobs report to once again proclaim an economic turnaround. “This is one of the strongest reports we’ve seen since the end of the recession,” said Labor Secretary Thomas E. Perez. “There was good job creation in high-wage, mid-wage and low-wage positions. It was broad-based.” In reality, jobs growth was again led by low-wage industries. The retail trade sector added 40,000 jobs, while the leisure and hospitality sector, which pays an average of $13.83 per hour, added 39,000. The health care sector added 34,000 jobs. Relatively higher paying sectors lagged behind. The manufacturing sector added...
  • Yellen Is Flat-Out Wrong: Financial Bubbles Are Caused By The Fed, Not The Market

    07/05/2014 4:57:34 PM PDT · by Lorianne · 5 replies
    Conta Corner ^ | 03 July 2014 | Jeffrey P. Snider
    More of the same from Janet Yellen in her latest speech, but her focus on “resilience” caught my attention as it relates to very recent developments. The taper threat experience last year may have been a warning, but it doesn’t seem like it resonated with her or policymakers. The major bond selloff, which led to global ripples of crisis in credit, funding and currencies, was the opposite of flexibility. Perhaps a better definition of the word would be a place to start. But her meaning was a bit different, in that it is clear (from this speech and prior assertions,...
  • Expropriation Is Back - Is Christine Lagarde The Most Dangerous Woman In The World?

    07/04/2014 12:58:01 PM PDT · by Lorianne · 13 replies
    Zero Hedge ^ | 04 July 2014 | Tyler Durden
    I have gone on record that the most dangerous organization is the now French led IMF with Christine Lagarde at the helm, which has presented a concept report that debt cuts for over-indebted states are uncompromising and are to be performed more effectively in the future by defaulting on retirement accounts held in life insurance, mutual funds and other types of pension schemes, or arbitrarily extending debt perpetually so you cannot redeem. Yes you read correctly, The new IMF paper is described in great detail exactly how to now allow the private sector, which has invested in government bonds, to...
  • You Can Buy An Entire Town In South Dakota For The Bargain Price Of $400K

    07/03/2014 6:21:58 PM PDT · by Lorianne · 29 replies
    Consumerist ^ | 30 June 2014 | Mary Beth Quirk
    Check your pockets and dig into the couch cushions — if you can rustle up some spare change to the tune of $400,000, you could be the owner of your very own town in South Dakota. The man who owns Swett, S.D. — and its bar, single house, workshop, three trailers and 6.16 acres of land — is looking to sell. Sure, $400,000 is a lot of money for anybody. But instead of just owning a single house, you could crown yourself Grand High Empress/Emperor of this unincorporated hamlet about two hours from Rapid City, reports the Rapid City Journal....
  • US and Germany want gas hub in Ukraine

    07/03/2014 5:56:47 PM PDT · by Lorianne
    Russia Today ^ | 02 July 2014
    German and US companies want to start using Ukraine as a gas hub, according to Aleksandr Todiychuk, Deputy Chairman of the country’s national oil and gas company Naftogaz. “For them [Germany and the US] it’s an opportunity to gain a foothold in the region. Our underground gas storage is interesting for both sellers and buyers of gas. This is why potentially everybody who’s interested in creating a hub, are talking about our high potential in this field,” Todiychuk said in an interview with the Russian daily Kommersant. Gazprom, the world’s largest producer of natural gas, has stopped using Ukraine as...
  • BRICS morphing into anti-dollar alliance

    07/03/2014 4:48:53 PM PDT · by Lorianne · 6 replies
    Voice of Russia ^ | 03 July 2014
    Before the crucial visit to Beijing next week, the governor of the Russian Central Bank, Elvira Nabiullina met Vladimir Putin to report on the progress of the upcoming ruble-yuan swap deal with the People's Bank of China and the Kremlin used the meeting to let the world know about the technical details of its international anti-dollar alliance. On June 10th, Sergey Glaziev, Putin's economy advisor published an article outlining the need to establish an international alliance of countries willing to get rid of the dollar in international trade and refrain from using dollars in their currency reserves. The ultimate goal...
  • Juncker is galling for Britain, but life-threatening for France and Italy (EU)

    07/03/2014 4:44:33 PM PDT · by Lorianne · 3 replies
    Telegraph (UK) ^ | 02 July 2014 | Ambrose Evans-Pritchard
    The Cromwellian method by which Jean-Claude Juncker was foisted upon the nation states is a breach of the Treaties ___ The sovereign parliaments of Europe are victims of a constitutional sleight of hand, though some acquiesce more easily than others. The Cromwellian method by which Jean-Claude Juncker was foisted upon the nation states is a breach of the Treaties. The episode clarifies the need for British withdrawal from the Union, or the withdrawal of France or any other country that wishes to remain self-governing under a rule of law.
  • How Wall Street Manipulates The Buy-to-Rent Housing Racket

    07/03/2014 4:41:08 PM PDT · by Lorianne · 8 replies
    Testosterone Pit ^ | 02 July 2014 | Wolf Richter
    Private equity firms are the ultimate smart money on Wall Street; they know how to wring out the last dime from their own clients, such as pension funds and rich individuals, through hidden fees, obscure expenses, elaborate expense shifting, lackadaisical disclosure, and “zombie advisers,” to the point where SEC Inspection Chief Andrew Bowden singled them out in a speech in May. Now the lawyers are circling. And these PE firms invented a whole new business: buying vacant homes out of foreclosure and from banks and renting them out. Flush with the Fed’s nearly free money, Blackstone Group ended up spending...
  • One Hundred and Four Horses: A Memoir of Farm and Family, Africa and Exile

    07/03/2014 2:58:40 PM PDT · by Lorianne · 4 replies
    Amazon/ ^ | October 2013 published | Mandy Retzlaff (book author)
    Amazon description: There is little in this world that a family cannot endure, if endure they must. For we all have it within us to lose everything, absolutely everything, and still find strength in the most simple, beautiful things. Pat and Mandy Retzlaff lived a hard but satisfying farming life in Zimbabwe. Working all hours of the day on their sprawling ranch and raising three boisterous children, they savored the beauty of the veld and the diverse wildlife that grazed the meadows outside their dining room window. After their children, the couple's true pride and joy were their horses. But...
  • Bill Ayers planned to murder 25 million Americans!

    07/03/2014 7:29:42 AM PDT · by Lorianne · 52 replies
    You Tube ^ | originally 1982
    In 1969 undercover FBI agent Larry Grathwohl infiltrated the Weather Underground. Watch Hilder's films go to http://www.freeworldfilmworks.com/fwa... to learn more about the machinations of the NWO Gangsters. Bill Ayers said when he took over America he would send Patriots to re-education camps and murder those who would not accept the New World Order. He estimated he would have to murder 25 million American Patriots. Published on You Tube Jun 26, 2012
  • Court: NY towns make final call on gas drilling

    07/02/2014 3:38:04 PM PDT · by Lorianne · 4 replies
    CNBC/Reuters ^ | 30 June 2014
    New York state's top court ruled on Monday that towns have the authority to ban gas drilling within their borders, giving a boost to opponents of the drilling method known as fracking. The Court of Appeals in a 5-2 decision upheld drilling bans in the Ithaca suburb of Dryden and in Middlefield, near Cooperstown, saying the laws were extensions of the towns' zoning authority. Drilling company Norse Energy USA and an upstate dairy farmer separately sued the towns, claiming the bans violated a law designed to create uniform statewide regulations on the oil and gas industry. The court disagreed, saying...
  • Auto sales close to hitting the brakes

    07/02/2014 3:29:01 PM PDT · by Lorianne · 30 replies
    CNBC ^ | 01 July 2014 | Phil LeBeau
    America's auto industry, in the midst of a five-year run where sales have rebounded more than 55 percent, is close to seeing a slowdown according to a new study. The AlixPartners 2014 Automotive Study suggests sales of cars and trucks in the U.S. will hit a peak this year and then gradually pull back. Read More GM announces 6 new recalls, 7.6 million cars in the US "This is a cyclical industry and we think this current cycle has just about run its course," said Mark Wakefield of AlixPartners. "We're a little less optimistic than others about the demand for...
  • Don’t Mistake This Phony “Recovery” for the Real Thing

    07/02/2014 3:23:08 PM PDT · by Lorianne · 4 replies
    Acting Man ^ | 01 July 2014 | Bill Bonner
    “De hosses run down an den dey come back / Doo dah, doo dah Bet my money on a bob-tail nag / Oh de doo dah day” – “Camptown Races,” Stephen Foster A trifecta of disappointment last week … As you know, dear reader, the idea behind the Fed’s ZIRP and QE policies is to stimulate demand. More demand – meaning more consumers spending more money they don’t have on more things they don’t need – is supposed to be a good thing. Fed economists have bet trillions of dollars on it. Not their money, of course. Each year, since...