Latest Articles: Business/Finance
Depression-Level Unemployment in America
Post Date: 2017-03-12 08:54:00 by Stephen Lendman
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Depression-Level Unemployment in America by Stephen Lendman Monthly Labor Department jobs reports are phony. Paul Craig Roberts calls them “a bad joke,” saying America’s economy is a “house of cards.” A day of reckoning awaits. Job numbers are inflated, manufactured out of thin air, partly based on a so-called birth-death model, estimating net non-reported jobs from new businesses minus losses from others no longer operating. The Bureau of Labor Statistics (BLS) admits misreporting, saying “(t)he confidence level for the monthly change in total employment is on the order of plus or minus 430,000 jobs.” Mark Twain’s maxim about lies, damn lies and ...
Samsung Plans U.S. Expansion, Would Shift Manufacturing From Mexico
Post Date: 2017-03-08 11:16:07 by HAPPY2BME-4UM
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Initial capital investment is expected to be around $300 millionSEOUL— Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said.https://www.wsj.com/articles/samsung-plans-u-s-expansion-would-shift-manufacturing-from-mexico-1488985610
Trump Opens ‘All Available’ Gulf Of Mexico Waters To Oil Drilling
Post Date: 2017-03-08 05:37:10 by HAPPY2BME-4UM
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The Department of the Interior will include “all available” federal waters in the Gulf of Mexico that have not already been leased out for offshore oil drilling.Interior Secretary Ryan Zinke announced Monday 73 million acres off the coast of Texas, Louisiana, Mississippi, Alabama, and Florida would be offered at a lease sale in August as part of the Interior Department’s five-year leasing plan.“Opening more federal lands and waters to oil and gas drilling is a pillar of President Trump’s plan to make the United States energy independent,” Zinke said in a statement.The Obama administration, however, did not include any lease sales in most of the Arctic Ocean and ...
ExxonMobil Announces $20 Billion In US – 47,000 New Jobs For Americans
Post Date: 2017-03-07 06:56:39 by HAPPY2BME-4UM
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When President Donald Trump said the American people would get tired of winning with him in the White House, he wasn’t kidding!Forbes reports:In a speech this afternoon Darren Woods, the new CEO of ExxonMobil set forth his vision of how America’s biggest oil company will invest over the next decade to capitalize on the miracle of the U.S. oil and gas boom. Speaking at the annual CERAWeek conference in Houston, Woods touted Exxon’s new $20 billion Growing the Gulf initiative. It’s their umbrella term for 11 major chemical, refining, lubricant and liquefied natural gas projects along the coasts of Texas and Louisiana. All told, these projects could create 35,000 ...
Indonesia replacing Saudi LPG with Iran imports
Post Date: 2017-03-07 04:28:38 by Tatarewicz
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PressTV... Iran has been ramping up crude oil production to win back its market share since sanctions. Iran has been ramping up crude oil production to win back its market share since sanctions. Indonesia is expecting to increase liquefied petroleum gas (LPG) imports from Iran, director general of oil and gas at the South Asian country’s Energy and Mineral Resources Ministry, Wiratmaja Puja, says. “We wish to add the amount of imported LPG from Iran. At a discounted price if possible,” Wiratmaja said. Indonesia's media reports said the government has been exploring the option since Chief Economic Minister Darmin Nasution’s visited Iran in February. Wiratmaja said ...
University Lays Off 79 IT Workers After They Train Foreign Replacements
Post Date: 2017-03-03 14:42:20 by HAPPY2BME-4UM
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googletag.cmd.push(function() { googletag.display('div-gpt-ad-899198631186649948-1'); }); We’ve seen this same situation play out in other places. An institution or company makes employees train the very people who are going to take their jobs. It’s so demeaning to American workers. try { /* Slot size: 300x250 */ amznads.getAdForSlot('3000', 'f1e0d989-4c90-436b-99f0-9c843a419a01'); } catch(e) { /*ignore*/} ARS Technica reported: Public university lays off 79 IT workers after they train outsourced replacements At the University of California’s San Francisco campus, 79 IT employees lost their jobs this week, some of them after explaining to their ...
Caterpillar Goes From White House Kudos to Multi-Agency Raid
Post Date: 2017-03-03 10:19:58 by Dakmar
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One week ago, Caterpillar Inc. was being praised by President Donald Trump for producing great bulldozers. “I love Caterpillar," Trump told company Chairman Doug Oberhelman at a meeting of manufacturing heads at the White House. On Thursday, officials from the Commerce Department, Internal Revenue Service, Federal Deposit Insurance Corp. and Illinois State Police moved in and out of the company’s corporate headquarters in Peoria, Illinois, in a raid seeking evidence related to exports and a Swiss subsidiary as part of a criminal probe. Bloomberg News obtained copies of three related search warrants, signed Feb. 24 by U.S. Judge Harold Baker, that authorized seizure of a ...
Delivery boy becomes the third richest man in China: Humble worker who defied the odds to set up his own business is now worth £22billion
Post Date: 2017-03-03 08:12:39 by Tatarewicz
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(Mail Online) Every trade has its master - in this case its billionaire - no matter how humble it is. A self-made entrepreneur who once dashed between cities to deliver goods for clients has built an impressive courier empire and is now one of China's richest men. Wang Wei, the boss of SF Express, has seen his personal worth rocketing to a whopping £22.5 billion (189.9 billion yuan) since his company went public last week. Wang Wei is now the third richest man in China thanks to his company SF Express. He was pictured speaking during SF Express's listing ceremony on February 24 With 120,000 employees and 13,000 offices, SF Express is the biggest Chinese courier firm Zep ...
Washington's Game of 'Kick the Can' Could Be Coming to an Abrupt End
Post Date: 2017-03-02 03:07:33 by Tatarewicz
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RI... Moscow. Slightly overcast, the last day of February and the temperature was holding just above the plus numbers. Passing by the Russian Orthodox church of St. Spyridon I spotted the neighborhood “znakhar”, which in English would be a mélange of seeress + witch + healer. I have seen this elderly woman around the neighborhood from time to time and we limit our exchange to polite hellos, as metaphysics is not something I hold in high regard. This time however, she motioned me to come over. “You are that foreigner, no?” I nodded smilingly. “Be ready for very big changes to begin as we approach the middle of this coming March. It is just as well you now ...
Ernst & Young no Longer Requires Degrees – No Evidence a Degree = Success
Post Date: 2017-03-01 07:35:53 by Ada
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I have warned that 2015.75 was the peak in government and the two many industries that government subsidies has created the decay within our American society reducing disposable income – healthcare and education. Degrees I have warned are really worthless. About 60% of graduates cannot find employment in the degree they have paid for. Both education and healthcare have become the greatest violation of consumer laws to date, and nobody does anything about it. Hospitals are growing trying to put out of business the private local general practitioner aided by the lawyers driving up legal claims enticing people to file suits as if this is a lottery or casino to get rich quick. Ernst ...
US not rich enough to give away money for free - Bill Gates
Post Date: 2017-03-01 03:51:31 by Tatarewicz
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RT...d it’s too early to dish out money to needy people, though the billionaire accepts the idea of universal basic income (UBI). Read more © Leonhard Foeger ‘Basic income’ poll: 64% of Europeans would vote in favor, 4% would stop working “Over time countries will be rich enough to do this. However we still have a lot of work that should be done - helping older people, helping kids with special needs, having more adults helping in education,” he said, responding to users’ questions during an Ask Me Anything session on Reddit. UBI is an idea to provide people with a regular allowance regardless of their income or assets. The system can reportedly close ...
Exclusive: Obama Illegally Robbed Fannie, Freddie to Fund Obamacare
Post Date: 2017-02-28 00:24:04 by ratcat
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Exclusive: Obama Illegally Robbed Fannie, Freddie to Fund Obamacare Obama diverted money from low-income housing to keep Obamacare alive Jerome R. Corsi | Infowars.com - February 27, 2017 WASHINGTON, D.C. – Will this be the final nail in the coffin for the Affordable Care Act, commonly known as “Obamacare?” Federal court litigation provides evidence the Obama administration illegally diverted taxpayer funds that had not been appropriated by Congress in an unconstitutional scheme to keep Obamacare from imploding. In 2016, a U.S. District judge caught the Obama administration’s Health and Human Services Department acting unconstitutionally and therefore put an end to ...
JC Penny Closing Up To 140 Stores
Post Date: 2017-02-24 10:31:54 by HAPPY2BME-4UM
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USA Today reported: J.C. Penney (JCP) plans to close up to 140 stores and offer buyouts to 6,000 workers as the department-store industry sags in competition with online sellers and nimble niche retailers. The company said Friday that it would shutter 13% to 14% of its stores, representing about 5% of its annual sales, and two distribution centers. The cuts come amid mounting challenges for once-stalwart department-store chains such as Macy's and Sears, which are aggressively closing stores and shedding costs as shoppers flock to alternatives. Penney expects to save $200 million in annual costs in connection with the plan but will record an initial pre-tax charge of $225 million to ...
Transfer of Canadian banking records to Internal Revenue Agency (IRS) doubled last year
Post Date: 2017-02-24 03:44:50 by Tatarewicz
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Can.Politics - Google Groups... Transfer of Canadian banking records to U.S. tax agency doubled last year Documents for thousands of Canadian residents transferred under controversial FATCA legislation By Elizabeth Thompson, CBC News Banking records of more than 315,000 Canadian residents were turned over to the U.S. Internal Revenue Service last year under a controversial information sharing deal, CBC News has learned. That is double the number transferred in the deal's first year. The Canada Revenue Agency transmitted 315,160 banking records to the IRS on Sept. 28, 2016 — a 104 per cent increase over the 154,667 records the agency sent in September 2015. Lisa Damien, ...
SO MUCH WINNING: Wall Street Closes At Record Highs Thanks To Trump’s Presidency
Post Date: 2017-02-22 20:11:30 by HAPPY2BME-4UM
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(One must understand this economy would be in a FREEFALL had the progressive, neocon, globalist, anti-American beaten Donald Trump. Thank a deplorable the next time you happen to meet one.)===================When President Donald Trump said there would be a lot of winning, he wasn’t kidding!Fox News reports:U.S. stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump.Wal-Mart’s shares were the top gainer in the Dow Jones Industrial Average, rising 3 percent after the world’s largest retailer reported higher-than-expected U.S. sales.Home Depot ...
Oil prices will surge to $70 per barrel by year-end - Citi
Post Date: 2017-02-22 07:20:25 by Tatarewicz
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RT... US investment bank Citi has posted a bullish prediction about oil prices. As supply and demand levels continue to rebalance, crude is likely to reach $70 per barrel by the end of 2017, the bank said in a note. Read more © Leonhard Foeger Biggest gasoline glut in 27 years could crash oil markets However, the increase will come gradually, and a surge is to be expected a few months later, said Citi. "Oil prices are not likely to stray far from their current $53-58 per barrel range in the near term as record investor net length and bearish inventory data will likely cap prices until more tangible evidence of a tighter market emerges," Citi’s analysts wrote. On ...
Sanctions and the ‘Gold Ruble’: Russia’s Gambit For Full Financial Sovereignty
Post Date: 2017-02-20 08:21:19 by Tatarewicz
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RI... The ruble is the most gold-backed currency in the world. Can this help Russia safeguard against western economic warfare? America's trusted television pundits are once again screaming about how important it is to maintain sanctions against Russia. Did they not get the memo? Russia doesn't expect sanctions to be lifted any time soon. Instead, it's forging its own path towards financial sovereignty. With America now in full meltdown mode over the ongoing Trump "sanctions conspiracy" with Russia, we thought it would be prudent to ask if there is any real evidence that Russia is desperately trying to fully reintegrate itself with the western-controlled financial ...
WALMART -vs- AMAZON (Amazon winning)
Post Date: 2017-02-19 21:07:14 by HAPPY2BME-4UM
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Warren Buffett nearly bailing out of Wal-Mart Stores Inc. only adds to the big-box chain’s list of concerns. Mr. Buffett’s Berkshire Hathaway dumped $900 million worth of Wal-Mart stock at the end of 2016, the fourth consecutive quarter it has pared its position, according to federal filings. The move supports the concerns Mr. Buffett and others have voiced about the world’s largest retailer and its uphill battle against online behemoth Amazon.com Inc. Amazon “is a big, big force and it has already disrupted plenty of people and it will disrupt more,” Mr. Buffett said last year at Berkshire’s annual shareholders meeting. And while Wal-Mart has taken ...
74 new airports to be completed by 2020 in China: trips to small cities easier
Post Date: 2017-02-19 05:44:20 by Tatarewicz
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(CRI Online) China is aiming to have 74 more civil transport airports by 2020, according to a report released by the Civil Aviation Administration of China (CAAC). The report provides the blueprint and sets the goals for the development of China's civil aviation industry during the country's 13th Five-Year Plan (2016-2020) period, which outlines the government plans for economic and social development over a period of five years. The report says the country will continue to construct 30, and build 44 new, civil transport airports between 2016 and 2020, and the number of civil transport airports will reach about 260 by 2020. These projects would make trips to China's third ...
GREENSPAN: The US cannot afford to spend on infrastructure like it wants to because it's not on the gold standard
Post Date: 2017-02-16 14:47:34 by Ada
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Former Federal Reserve Chairman Alan Greenspan has again defended the gold standard monetary system that the US dropped in the 1930s. The gold standard pegged the value of the dollar to the precious metal at $35 an ounce, and the US central bank promised other central banks to exchange dollars for gold. Last July, after the UK voted to leave the European Union, Greenspan warned of a forthcoming debt crisis that would be averted if the US was on the gold standard. Proponents of the gold standard argue that it would help limit the amount of debt that governments can issue, as there's a finite amount of gold that exists in the world. President Donald Trump's infrastructure-spending ...
California’s 12,209,605 Medicaid/CHIP Enrollees Outnumber Populations of 44 States
Post Date: 2017-02-15 22:25:15 by HAPPY2BME-4UM
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California’s 12,209,605 Medicaid/CHIP Enrollees Outnumber Populations of 44 States The number of people enrolled in Medicaid and the Children’s Health Insurance Program (CHIP) in California alone exceeds the total populations of 44 of the other states of the union, according to data published by the Centers for Medicare and Medicaid Services (CMS) and the Census Bureau.http://www.cnsnews.com/news/article/terence-p-jeffrey/californias-12209605-medicaidchip-enrollees-outnumber-populations-44
Greece plans to hire Rothschild as debt adviser
Post Date: 2017-02-15 06:17:16 by Tatarewicz
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Source: RT As concerns over Greece and its debt mount, Athens has reportedly decided to call in Rothschild, one of the oldest financial firms in the world, to navigate the country’s long-running creditor stand-off and avert default. According to the Financial Times, Greek authorities hope to finalize the appointment before crunch debt talks with eurozone finance ministers on February 20. The date has been described as the last chance for a bailout review with the upcoming elections in Europe likely to dominate the EU agenda. Sources told the FT that Rothschild is expected to advise Athens on all areas connected to its debt, including negotiations with creditors, potential ...
Google paid car unit staffers so much money that they quit
Post Date: 2017-02-14 08:30:00 by Ada
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What happened when Google paid staffers in its Waymo car unit millions of dollars? They quit. The Mountain View-based company introduced a unique pay structure in 2010 after it revealed its first self-driving vehicle. In addition to cash salaries, some Google car unit staffers were given bonuses and equity in the business, according to Bloomberg. The compensation package was meant to tie employees' payoffs to project performance. But some of the awards resulted in multimillion-dollar payments after Google applied a multiplier to the value of the bonuses. The multiplier was based on periodic valuations of the division, Bloomberg sources stated. One member of the team had a multiplier ...
Trump Concerned There Are Too Many "Goldman Guys" On His Team
Post Date: 2017-02-13 15:21:25 by Ada
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Two days after democratic senators Elizabeth Warren and Tammy Baldwin sent a letter to Goldman CEO Lloyd Blankfein, asking if Goldman effectively runs the country through its extensive alumni links at the Trump administration, and requesting details on "lobbying" activities in the bank related to review of the Dodd-Frank Act and the Obama-era fiduciary rule on financial advice, as well as asking for any communication between the bank's employees and Cohn, Mnuchin, nominee for the SEC chair Jay Clayton and chief strategist Steve Bannon, Bloomberg reported overnight that yet another Goldman banker, Jim Donovan, was under consideration for the No. 2 job at the Treasury ...
Why Renewables Are Doomed and Fossil Fuels Are the Future
Post Date: 2017-02-10 10:20:11 by Ada
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We’re on the verge of a new energy revolution. Except it’s the exact opposite of the one the “experts” at places like BP, the International Energy Agency and – ahem – the Guardian are predicting. For years we’ve been assured by politicians, energy industry specialists and green advocates that renewables such as the wind and solar are getting more and more cost-competitive while dirty fossil fuels are so discredited and wrong and evil we’ll soon have to leave them in the ground. But to believe this you’d have to believe in a world where Donald Trump and Brexit hadn’t happened; where taxpayers were still prepared to bankroll, ad infinitum, ...
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