Category: Money Watch

May 23rd, 2017 by Miasnow


Bloomberg
May 23, 2017

President Donald Trump’s first full budget would dramatically reduce the U.S. government’s role in society, hitting hard many of the rural, working-poor supporters who propelled him into office as he cuts through the safety net for the poor and disabled, hitting farming communities and inner cities alike.

The urban minority voters whom Trump asked in his campaign “What do you have to lose” by supporting him also got an answer in the $3.6 trillion in spending reductions he requested Tuesday. They include steep reductions in food stamps, Medicaid health insurance payments, low-income Find Out More…

Posted in Money Watch, Uncategorized

May 23rd, 2017 by Miasnow


Chris Menahan
Information Liberation
May 23, 2017

Viral video out of Richmond, Virginia shows a “fake homeless woman” threaten to kill a man after he filmed her taking her panhandled earnings to her nice new car.

From Heavy.com:

According to Maryland MVA records, the car is a 2016 Fiat 500X Easy. It also appears that she’s the original owner and it was bought new. Her cardboard sign claims that she’s homeless. However, she later claims in the video that she has a disability.

“What’s your disability?” the man filming her asks.

The woman refuses to respond and seeks Find Out More…

Posted in Money Watch, Uncategorized

May 23rd, 2017 by Miasnow


Michael Snyder
Economic Collapse
May 23, 2017

Even though I write about our ongoing long-term economic collapse every day, I didn’t realize that things were this bad. 

In this article, I am going to show you that the average rate of growth for the U.S. economy over the past 10 years is exactly equal to the average rate that the U.S. economy grew during the 1930s.  Perhaps this fact shouldn’t be that surprising, because we already knew that Barack Obama was the only president in the entire history of the United States not to have a single year Find Out More…

Posted in Money Watch, Uncategorized

May 22nd, 2017 by Miasnow


Bloomberg
May 22, 2017

A shortage of homes for sale has bedeviled U.S. house hunters in recent years, so why don’t builders build more? One problem is that they’re running out of lots to build on—at least in the places that people want to live.

Cities that were sprawling before the Great Recession have begun to sprawl again. Space-constrained cities, meanwhile, have run out of room to build. That reality has spurred developers to focus on center-city neighborhoods where high-density building is allowed—and new units command exceedingly high prices.

At some point, said Issi Romem, chief economist at BuildZoom, Find Out More…

Posted in Money Watch, Uncategorized

May 22nd, 2017 by Miasnow


Zero Hedge
May 22, 2017

Last week, the Greek parliament once again approved more austerity to unlock withheld Greek bailout funds  in Brussels: a symbolic move, which has little impact without any actual follow through, like for example, actually imposing austerity. And while Greeks have been very good in the former (i.e. promises), they have been severely lacking in the latter (i.e. delivery).

That may be changing. According to Kathimerini, Greek Finance Ministry inspectors are about to start seeking out the owners of all local undeclared properties, while the law will be amended to allow for financial products Find Out More…

Posted in Money Watch, Uncategorized

May 22nd, 2017 by Miasnow


Zero Hedge
May 22, 2017

Courtesy of Sov Man’s Simon Black, here are several of the most bizarre legal anecdotes to take place in the US and around the globe over the past week, staring with a bill currently making its way through Congress, which is seeking to wipe out over $1 trillion in student loans.

* * *

A Convenient Way to Cancel a Trillion Dollars of Debt

What happened:

Bankruptcy is like the ultimate get out of jail free card. You just get to wipe the slate clean, and even though your credit score and Find Out More…

Posted in Money Watch, Uncategorized

May 19th, 2017 by Miasnow


Reuters
May 19, 2017

The dollar limped toward its worst week since last July on Friday and world stocks headed for their first weekly fall in five, as storms surrounding Donald Trump’s U.S. presidency and Latin America’s biggest economy, Brazil, began to calm.

It has been the most eventful week of the year so far for investors, with leading share markets scaling record highs and then plunging in one of the sharpest cross-asset routs in years.

Wall Street was expected to nudge higher when it reopens after a tentative recovery on Thursday [.N]. Europe and Find Out More…

Posted in Money Watch, Uncategorized

May 19th, 2017 by Miasnow


CNBC
May 19, 2017

The digital currency bitcoin jumped to a fresh all-time high Thursday as global investors looked for safe haven trades. Increased interest from Asia also helped boost the digital currency.

Bitcoin rose more than 3.5 percent to hit a record of $1,875.08, according to CoinDesk.

One of the reasons for the move was “buying as a hedge against political chaos,” said Brian Kelly, CEO of BKCM, which runs a digital assets strategy.

Major stock markets dropped in the last two days as separate reports of potential scandals in the U.S. and Brazilian presidencies Find Out More…

Posted in Money Watch, Uncategorized

May 18th, 2017 by Miasnow


Michael Snyder
Economic Collapse
May 18, 2017

The wolves are circling, and members of Congress from both political parties are now openly talking about impeaching President Trump. 

On Wednesday, speculation of a looming Trump impeachment sent stocks plunging.  The Dow was down 372 points, and the S&P 500 and the Nasdaq both experienced their largest declines in eight months.  This downturn was sparked by a New York Times report that said that a memo that FBI Director James Comey wrote in February stated that Trump requested that Comey “end the investigation into former national security Find Out More…

Posted in Money Watch, Uncategorized

May 18th, 2017 by Miasnow


Brandon Smith
Alt Market
May 18, 2017

The world has been stunned over the past few days by the advent of “Ransomware;” the use of sophisticated cyber attacks on vital systems in order to (supposedly) extort capital from target businesses and institutions. I am always highly suspicious whenever a large scale cyber incident occurs, primarily because the manner in which these events are explained to the public does not begin to cover certain important realities. For example, the mainstream media rarely if ever discusses the fact that many digital systems are deliberately designed to Find Out More…

Posted in Money Watch, Uncategorized

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