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Economy

Sanctions Regime Directed against Russia is Part of a US-NATO Military Agenda

“We are implementing these new measures in light of Russia’s actions to further destabilise Ukraine over the last month, including through the presence of heavily armed Russian forces in eastern Ukraine, … If Russia fully implements its commitments, these sanctions can be rolled back. If, instead, Russia continues its aggressive actions and violations of international law, the costs will continue to rise.” ( President Barack Obama, September 11, 2001) ...Read full article...

No Economy For Americans

The Dow Jones stock average closed Friday at 17,137, despite the fact that the payroll jobs report was a measly 125,000 new jobs for August, an insufficient amount to keep up with the growth in the working age population. The low 125,000 jobs figure is also inconsistent with the Bureau of Economic Analysis’  second estimate of second quarter 2014 US GDP growth of 4.2 percent–a figure beyond the capability ...Read full article...

Anti-Russian Sanctions Wars Continue

Obama and other NATO member state heads are currently meeting in Wales. Discussions will continue Friday. Russia bashing continues. New sanctions are planned. More on this below. This summit meeting is one of NATO’s largest. Leaders and ministers from around 60 countries are attending. Included are senior representatives from 33 partner countries, the UN, OSCE, EU and other international organizations. NATO Secretary-General Anders Fogh Rasmussen said “concrete steps” will ...Read full article...

The True U.S. Rate of Unemployment is 23.2%

On January 6, 2004, Paul Craig Roberts and US Senator Charles Schumer published a jointly written article on the op-ed page of the New York Times titled “Second Thoughts on Free Trade.” The article pointed out that the US had entered a new economic era in which American workers face “direct global competition at almost every job level–from the machinist to the software engineer to the Wall Street analyst. ...Read full article...

Russia Fires First Salvo in the Sanctions War with the West

The Russian Government has published today a document which contains details on the ban of import agricultural products from countries of the European Union, United States, Australia, Canada, Japan and Norway. These products will be prohibited from entering Russian soil as part of a 12 month ban imposed as an answer to sanctions previously imposed by the West. The ban includes finished products as well as raw agricultural goods. ...Read full article...

“Offshoring Manufacturing” and the Decline of America’s Industrial Base

Redefinition Is America’s Most Powerful Factor of Production Last week’s government guesstimate that second quarter 2014 real GDP growth will be 4% seems nonsensical on its face. There is no evidence of increases in real median family incomes or real consumer credit that would lift the economy from a first quarter decline to 4% growth in the second quarter. Middle class store closings (Sears, Macy’s, J.C. Penney) have spread ...Read full article...

Ukrainian Prime Minister Yatsenyuk, Resigns amidst Pressures Exerted by the IMF

Ukraine’s Prime Minister Arseniy Yatsenyuk announced his resignation in the Rada (Parliament) and that of the entire Cabinet on Thursday, July 24.  This decision was taken following the withdrawal of two parties from the coalition government and the non-adoption of two important pieces of legislation, which had been demanded by the International Monetary Fund (IMF) “I announce my resignation after the collapse of the coalition and the blocking of ...Read full article...

Economic Sanctions and the Ukraine Airline Crash

Photos are now available of the wreckage from the Malaysian airliner crash. Notice the extensive debris and the large section of fuselage. You are observing remains of an airliner that was hit with a missile at 33,000 feet and fell to impact land. Remember, no such debris was present at the site where the airliner is alleged to have hit the Pentagon and at the alleged crash site in ...Read full article...

The Gold Market, Insider Trading and “Financial Terrorism” on Comex

The first two days this week gold was subjected to a series of computer HFT-driven “flash crashes” that were aimed at cooling off the big move higher gold has made since the beginning of June. During this move higher, the hedge funds, who typically “chase” the momentum of gold up or down, built up hefty long positions in gold futures over the last 6 weeks. In order to disrupt ...Read full article...

BRICS Announce the Creation of their Own Development Bank

 The Development Bank of emerging countries to be created at their summit in Brazil aims to rival the World Bank and the Bretton Woods institutions. In July 1944, representatives of 44 countries met in a hotel in Bretton Woods, New Hampshire, USA, to design the new model of trade and financial relations among the world’s major countries. That model is now 70 years old and is no longer trusted by emerging ...Read full article...

Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud

Washington can’t stop lying.  Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality.  In his analysis of the June Labor Data from the Bureau of Labor Statistics, John Williams (www.ShadowStats.com) wrote that the 288,000 June jobs and 6.1% unemployment rate  are “far removed from common experience and ...Read full article...

A New Recession and a New World Devoid of Washington’s Arrogance?

A final number for real US GDP growth in the first quarter of 2014 was released today. The number is not the 2.6% growth rate predicted by the know-nothing economists in January of this year. The number is a decline in GDP of -2.9 percent. The negative growth rate of -2.9 percent is itself an understatement. This number was achieved by deflating nominal GDP with an understated measure of ...Read full article...

The Global Economic Crisis: Causes and Devastating Consequences

In all major regions of the world, the economic recession is deep-seated, resulting in mass unemployment, the collapse of state social programs and the impoverishment of millions of people. The economic crisis is accompanied by a worldwide process of militarization, a “war without borders” led by the United States of America and its NATO allies. The conduct of the Pentagon’s “long war” is intimately related to the restructuring of ...Read full article...

Fake Employment Statistics: More Phantom Jobs Created in America

Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 jobs or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true. My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that ...Read full article...

Millions for War and the Bankers, but no Money for the Poor or Veterans

While vast amounts of Americans have lost their homes, their jobs and their livelihoods, and while war veterans are denied care, Barack Obama has unloaded more cash to continue wrecking havoc around the world. No matter how poor people are at home. Abroad, the United States will always have a well-financed genocidal military machine standing by and ready to bomb and destroy whomever does not conform and obey. President ...Read full article...