Economy Feed

FBI warns you could lose your house and life savings in new sophisticated scam

The Federal Bureau of Investigation is ringing the alarm bell over a shocking new scam that has already cost innocent Americans their homes and life savings.

On Dec. 4, the FBI shared the story of an Oregon family who fell victim to the scam -- a plot that had them unknowingly funneling their money to criminals.

The Cole family did everything right before having the rug yanked out from underneath them.

They bought a property, and through investment and rising market prices, eventually had something they could use to trade up for a bigger place.

The Coles sold their home and wired over $120,000 for a down payment after a title company email gave them instructions on how to send the funds. Days later, a phone call would bring their world crashing down.

Read the WND article:


There is a virus – and there's a virus agenda

By Jake MacAulay

Despite what you hear from "Constitution experts" on TV, no president or governor or health department official has the authority to suspend the Constitution by ordering people not to congregate, or by closing businesses, or by falsely imprisoning people in their homes.

The TV legal experts usually speak of "balancing" individual rights against government interests with words like "compelling state interest" and "least restrictive means." But this is a false pretense. The Constitution doesn't contemplate any "balancing."

Unless a jury of your peers convicts you of a crime, your constitutional rights are absolute. And it's the governors' sworn duty to protect these rights, not to violate them.

Is this what James Madison was referring to when he declared in Federalist 47:

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"The accumulation of all powers, legislative, executive, and judiciary, in the same hands, whether of one, a few, or many, and whether hereditary, self-appointed, or elective, may justly be pronounced the very definition of tyranny."

 

 

Continue reading "There is a virus – and there's a virus agenda" »


Oil price crashes to MINUS $37 a barrel for the first time in history

Oil price crashes into negative for the first time in history as demand dries up

The cost to have a barrel of U.S. crude delivered in May plummeted to negative $37.63. It was at roughly $60 at the start of the year. Traders are still paying $20.43 for a barrel of U.S. oil to be delivered in June, which analysts consider to be closer to the 'true' price of oil. Oil is traded on its future price; the May futures contract expires Tuesday. That exacerbated volatility; by Monday evening US oil prices were back above zero, reports said. Monday's sharp decline is a result of May's futures contract closing Tuesday, when trading contracts for it expire and the earliest delivery they'll be able to buy is for June.


The unemployment rate may hit 30% because of coronavirus Panic

But what will the results be?  How many Non Corona Deaths will this cause???

The unemployment may hit 30% because of coroanvirus with an unprecedented 50% drop in gross domestic product, a Federal Reserve chief has warned. This would outpace the Depression when the highest unemployment rate was:

1933

  Unemployment

        24.9%

 

GDP

-1.2%

 inflation

0.8%

FDR President

 

James Bullard, President of the St Louis Fed, said that 'everything is on the table' for lending to replace up to $2.5trillion lost as a result of job losses in the first quarter.   'There is more that we can do if necessary,' Bullard told Bloomberg, 'There is probably much more in the months ahead depending on where Congress wants to go.'

Last night top-level negotiations between Congress and the White House churned over a now nearly $2 trillion economic rescue package as the COVID-19 death toll soared to 414, with more than 35,000 cases.

The Fed last week began drastic measures to breathe life into the economy, cutting interest rates to almost zero and promising to increase its holdings of Treasuries by $500billion and of mortgage securities by $200billion. 

Bullard added: 'This is a planned, organized partial shutdown of the U.S. economy in the second quarter ... The overall goal is to keep everyone, households and businesses, whole.' 

As President Donald Trump took to the podium in the White House briefing room and promised to help Americans who feel afraid and isolated as the pandemic spreads, the Senate voted Sunday against advancing the rescue package. But talks continued on Capitol Hill.  'I think you'll get there. To me it's not very complicated: We have to help the worker. We have to save the companies,' Trump said.

The overreaction of government and media spreading undue panic at the same time saying don't panic! Like "calm down," simply saying "don't panic," without providing evidence and facts that is actually available to ease the mind, is largely ineffective.

Abdu Sharkawy, a doctor and expert at the University of Toronto in Canada, wrote late Friday that the disease is indeed dangerous but that the often self-interested measures to contain are in some cases proving worse.

His post, which has been shared around 310,000 times at the time of writing, attacks the "spellbinding spiral of panic" he observes around the world as the number of cases increases.

1"I am not scared of COVID-19," Sharkawy wrote, using the scientific name for the disease caused by the coronavirus.

You can read the full post here.

However, he continued:

"What I am scared about is the loss of reason and wave of fear that has induced the masses of society into a spellbinding spiral of panic, stockpiling obscene quantities of anything that could fill a bomb shelter adequately in a post-apocalyptic world.

"I am scared of the N95 masks that are stolen from hospitals and urgent care clinics where they are actually needed for front line healthcare providers and instead are being donned in airports, malls, and coffee lounges, perpetuating even more fear and suspicion of others. I am scared that our hospitals will be overwhelmed with anyone who thinks they 'probably don't have it but may as well get checked out no matter what because you just never know…'"

So take the doctors advice DON'T PANIC....  I wish the Media, government and CDC would do the same!

 

 


Why are the Markets going up and down by thousands? CORRUPTION on Wall Street

This story is not new!  In every crisis, stock manipulators make fortunes with insider trading and price manipulation. This is not new, but it must be curtailed.  Read today's example.... The man should be arrested, and NEVER ALLOWED on a business TV program again!

American hedge fund boss Bill Ackman has made $2.6 billion by betting against the markets just days after stoking fears by saying 'hell is coming' and begging President Donald Trump to shut down the country amid the coronavirus pandemic

American hedge fund boss Bill Ackman has made $2.6 billion by betting against the markets just days after stoking fears by saying 'hell is coming' and begging President Donald Trump to shut down the country amid the coronavirus pandemic. 

The Pershing Square Capital Management hedge fund manager said his firm had made $2.6billion from a one-off bet that the coronavirus outbreak would cause a global market crash.     

His firm seized upon bond market turmoil during the coronavirus crisis in buying 'credit protection on various global investment grade and high-yield credit indices'.

The bet, which was designed to protect Pershing Square Capital Management from falling stock markets triggered by the pandemic, saw his firm make almost 100 times its initial $27million investment.

Read More: Sickening: Hedge fund boss Bill Ackman makes $2.6BILLION by betting AGAINST the markets just days after stoking fears by giving emotional interview warning 'hell was coming' and begging Trump to shut down country over coronavirus pandemic


This is not the end of the world, according to Christians who study the end of the world

And they are RIGHT!

Are We in the Last Days (Prelim 1985)01Chuck Pierce’s son was concerned, like a lot of other people looking out on a world of ransacked grocery stores and canceled sports seasons and eerie lines of people standing six feet apart from one another. So he asked his dad: “Is this the end of the world?”

It sure might feel apocalyptic. But not if you ask Christian writers and pastors who have spent years focusing their message on the Book of Revelation — the New Testament’s final book. It lays out a lurid, poetic vision of the End Times, in which many evangelical leaders interpret it to mean that Jesus will return to Earth, believers will be raptured to heaven and those left behind will suffer seven dreadful years of calamities. Most of these Revelation-focused prophesiers don’t see coronavirus as heralding the Second Coming and the end of life on Earth as we know it. 

“If a person were just completely ignorant about what the Bible says about the End Times, they may think this right now: This is it,” said Jeff Kinley, a writer of books on biblical prophecy who lives in Harrison, Ark.

Kinley said he understands why Americans might see this time of fast-encroaching disease, isolation from loved ones and crashing stock markets as apocalyptic. Americans are primed to believe the end of the world might arrive any day now. In 2010, 41 percent told Pew Research Center that they expected Jesus to return by 2050.

Kinley pointed to Revelation 6:8, which forecasts deaths all over the globe “by sword, famine and plague,” and Jesus’ words about the events before the end times in Luke 21:11: “There will be great earthquakes, famines and pestilences in various places, and fearful events and great signs from heaven.”

“I think he’s referring to a future time,” Kinley said. “I don’t think this is an actual fulfillment of that.” 

The Bible is very specific about what will happen before the End Times, Kinley says, and those events haven’t all unfolded yet. For one major thing, the ancient temple in Jerusalem is supposed to be rebuilt first.

Gary Ray, a writer for the prophecy website Unsealed, agreed: He and his fellow evangelical End-Times writers are focused on what is happening with holy sites in Israel, not disease. “The key focus that we have in our minds is Israel. That’s God’s prophetic clock. As things progress in that country, we get closer to when the rapture of the church will occur, and then the tribulation,” he said.

Continue reading "This is not the end of the world, according to Christians who study the end of the world" »


How Dodd-Frank Made It Legal for Banks to Confiscate Your Money! HONEST!

Should another financial crisis befall us (like what happened this week), rendering a number of Too-Big-To-Fail banks insolvent, the good news is that taxpayers will no longer be forced to bail them out.

The bad news is that these large Wall Street banks can now legally bail themselves out internally (referred to as “bail-ins’) using depositor funds.

Thanks to Dodd-Frank, if you happen to hold your money in a savings or checking account at a bank, and if that bank collapses, it can legally freeze and confiscate your funds for purposes of maintaining its solvency.

So instead of relying on government funds (taxpayer money) to save itself from going bankrupt, a bank can simply dip into your deposit accounts to stabilize itself.

To compensate you, the bank will exchange your money for its equivalent value in company shares.

In other words, if a bank fails, it takes your money and hands you an equivalent amount of shares in its failing operation. Ethical? No. Legal? Yes.

MORE


Economic Bloodbath: Oil- Stocks Crashing - Media Hype is working on destroying Trump economy

Bob Barney

The Fake News about the Coronavirus being the next Black Death has achieved what Russiagate could not do - it has tanked the world's economy and created the greatest threat to Trump's presidency...  Although barley a few hundred have the disease in America, we lose 150 people a day from the FLU! Most people know that the flu can kill. Indeed, the so-called Spanish flu killed 50 million people in 1918 – more than were killed in the first world war. But did you know that the common cold kills many people?  Can you really catch your death?

Rhinovirus causes about half of all colds, but other viruses can cause one or more of the symptoms of a cold, including adenovirus, influenza virus, respiratory syncytial virus and parainfluenza virus. A cold can also have more severe symptoms in the very young and the very old. Older people are more likely to develop a more serious infection compared with adults or older children. And people who smoke – or who are exposed to second-hand smoke – are also more likely to get a cold and have more severe symptoms.  Sound familiar????

The common cold kills more people each year than we have lost to the Coronavirus, yet no panic!

Oil prices see the biggest plunge since the Gulf War in 1991 as Dow set to open 1,000 points lower


Stock Market Correction- Crash coming?

Wall Street prepares for another hammering as $5 TRILLION is wiped off the world economy

New York markets (left) were braced for another sell-off on Friday after stock prices across Asia (top right) and Europe (bottom right) tumbled following a week that has seen some $5trillion wiped off the world economy. Traders had been growing in confidence that the coronavirus outbreak had been confined to China, but fresh outbreaks in Italy, South Korea, Japan and Iran have seen confidence collapse amid fears it could cause a major slowdown in global industry. Markets in Japan and Shanghai closed almost 4 per cent down on Friday, those in Europe were headed for their worst week since the 2008 crisis, while Dow Jones and S&P 500 futures - effectively bets placed on where the market will head next - were down 2.5 per cent, in a sign of things to come.


UK ECONOMY SURGES POST-BREXIT DESPITE GLOOMY PREDICTIONS


Trump economy soaring: Homebuilding surges to 13-year high

America's housing market boomed in December as part of the roaring economy under President Donald Trump. Housing starts jumped 16.9 percent from November, the largest percentage gain since October 2016, according to CNBC.

The December annualized rate of 1.608 million units was a 40.8 percent increase from December 2018 and represented the highest level since December 2006.

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The torrid December meant that for the year, an estimated 1.29 million housing units began construction in 2019, an increase of 3.2 percent from 2018

 

In a bullish sign for the US economy and the real estate sector, housing starts surged in Dec, far above expectations. The key takeaway: the 1yr trend accelerated to nearly a 41% gain! That's the strongest increase in nearly 7yrs! https://cnb.cx/30us6bu 

View image on Twitter
See James Picerno's other Tweets
 
 

Black Friday

Black Friday Chaos: Thousands of shoppers wait hours in line before fighting over special

While millions of families across America gathered at their dinner tables for their Thanksgiving dinner, thousands of savvy shoppers were waiting in line for Black Friday deals. Chaotic scenes unfolded in malls across the country as people got a head start on their Christmas shopping, trying to land the best deals. Thousands of people lined up outside of Macy's Herald Square location in New York City, braving the cold as they waited for employees to open the doors at 5pm. The unofficial holiday has even extended overseas in countries like Brazil, where customers nearly fought to get their hands on the latest Samsung TV's on Thursday. Since 2005, Black Friday has been the busiest shopping day of the year in the United States.


Struggling farmers are losing a huge customer to the trade war — China-but remain loyal to Trump

image from fm-static.cnbc.com

U.S. farmers lost one of their biggest customers after China officially cancelled all purchases of U.S. agricultural products, a retaliatory move following President Donald Trump’s pledge to slap 10% tariffs on $300 billion of Chinese imports.

China’s exit piles on to a devastating year for farmers, who have struggled through record flooding and an extreme heat wave that destroyed crop yields, and trade war escalations that have lowered prices and profits this year.

“It’s really, really getting bad out here,” said Bob Kuylen, who’s farmed for 35 years in North Dakota.

“Trump is ruining our markets. No one is buying our product no more, and we have no markets no more.”

Agriculture exports to China dropped by more than half last year. In 2017, China imported $19.5 billion in agricultural goods, making it the second-largest buyer overall for American farmers. In 2018, that dropped to $9.2 billion as the trade war escalated, according to the United States Department of Agriculture.

This year, China’s agricultural imports from the U.S are down roughly 20%, and U.S. grain, dairy and livestock farmers have seen their revenue evaporate as a result. Over the last 6 years, farm income has dropped 45% from $123.4 billion in 2013 to $63 billion last year, according to the USDA.

Loyalty to Trump

Farmers are an important voting base for Trump, who is running for reelection next year. While he’s given no indication of backing off in the trade war, struggling farmers appear to remain loyal.

Continue reading "Struggling farmers are losing a huge customer to the trade war — China-but remain loyal to Trump" »


Fed Cuts Interest Rates for First Time Since 2008 Crisis

 
Fed Cuts Interest Rates for First Time Since 2008 Crisis
President Donald Trump with Fed Chair Jerome Powell (AP)
 
The Federal Reserve cut interest rates on Wednesday to shore up the economy against risks including global weakness, but the head of the U.S. central bank said he did not view the move as the start of a lengthy series of rate cuts. [Full Story]
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UNDER TRUMP and REPUBs- SPENDING BINGE WORSE THAN UNDER OBAMA, BUSH...

Now, the only question Republicans have is how many pennies of border security they will fight for, while refusing to challenge any of the nonessential and even harmful programs of the federal government. The GOP platform on debt and spending is a lie from top to bottom, as Republicans plan to pass more budget bills allowing us to blow through the budget caps without any effort to systemically reform the way we budget.


Bob Barney: The Plain Truth is that under Republicans, spending has increased far more dramatically than under Democrats. I realize most of you out there don't believe this fact but it is true.  Under Trump and the Republicans, spending is at an all time high, and yet it was the Republican Party who could not find $5 billion for a wall, out a a 3 trillion dollar budget!   Wake up.  Republicans are liars who do not represent their voters.  Democrats are EVIL, who do represent their voters, most of whom are evil themselves!

SPENDING BINGE WORSE THAN UNDER OBAMA, BUSH...

Student Debt in 'Serious Delinquency' Tops $166 Billion...


Americans Continue to Flee to Low-Tax States

By Ryan McMaken

According to the most recent Census Bureau data on state-to-state migration flows, 523,000 people moved to California from other states. But at the same time, more than 661,000 Californians moved to other states.

That is, on net, nearly 138,000 more people left California than moved into it from elsewhere in the US.

Yet, California isn’t the worst in this regard. Both Illinois and New York lost even more residents to other states with net losses to other states totaling 144,000 and 167,000, respectively.

These numbers reinforce what has become a well-entrenched trend of US residents moving from high-tax states to low tax states.   MORE


Jobless Claims Fall Amid Shutdown Showdown

Foreword by Bob Barney:  Notice 2 things in this report that the media, including Fox News is not reporting: 1) THE GOVT WORKERS ARE COLLECTING UNEMPLOYMENT!   and 2). The shutdown has not affected the private sector at all!  We are at full employment!

The number of Americans filing new applications for unemployment benefits fell last week, but claims filed by federal employees jumped due to the partial shutdown of the federal government.

Initial jobless claims, a proxy for layoffs across the U.S., fell by 3,000 to a seasonally adjusted 213,000 in the week ended January 12, the Labor Department said Thursday. That is up from 216,000 reported a week earlier. Economists had forecast 221,000 jobless claims.

Those figures reflect claims filed under regular state programs. The lower than expected number for the past week indicates that private contractors working for the federal government, many of whom are not working during the shutdown, are not piling into unemployment benefits.

Federal employees file under a separate program, which is reported with a one-week lag. For the week ended January 5, the second week of the shutdown, 10,454 federal employees filed for first-time benefits. That was up 4,760 the week before and 929 the prior week. A year earlier, 1,148 federal employees filed for unemployment benefits. Claims by federal workers aren’t adjusted for seasonality.

Jobless claims are also closely watched for indications that the trade dispute with China may be taking a toll on the labor market. When the Trump administration announced it would impose tariffs on steel, aluminum, and imports from China, many predicted the tariffs and retaliation would come at a steep cost for American workers. So far, there’s no sign of tariff-triggered layoffs.

SOURCE Breitbart.com


Prices for Most Tariff Items Fell After Inflation Adjustment

WILBUR-ROSS Campbell Soup
CNBS

The tariffs imposed by the Trump administration on steel, aluminum, and imports from China have not taxed American consumers.

The Labor Department said Wednesday that its Consumer Price Index was flat last monthand consumer prices are up just 2.2 percent compared with a year ago. That’s a deceleration of price pressure from October when prices were up 2.5 percent compared with the prior year.

Excluding volatile food and energy doesn’t change the picture very because core inflation was also very low. Core CPI climbed just 0.2 percent for the month and is up 2.2 percent from a year ago. That is in-line with October’s 2.1 percent and September’s 2.2 percent 12-month increases.  MORE


Will the Fed Set Off a Recession Alarm?

By Bob Barney

  image from www.motherjones.com   The Federal Reserve is an enemy of the people of the United States.  It is a corrupt, globalist organization that has stolen more wealth from the American middle-class than any other single entity.  The Fed, not George Bush, caused the single most worst economic collapse in history in the early 2000's when they raised interest rates some 40 times in a few short years, while oil and gasoline prices were skyrocketing.  They did to to elect a democrat.   When Obama was elected president, they lowered interest rates to ZERO and never once raise them in an unprecedented eight year span!  Now that the enemy of globalist is in the White House, the Fed is back raising interest rates again, hoping for a certain collapse, which again will elect democrats.  Ron Paul was right, the FED needs to be abolished!   

The economic recovery is chugging along almost as fast as ever, but, beneath the surface, the best recession predictor we have is starting to flash yellow.

That indicator is the difference between interest rates on 10-year Treasury bonds and two-year ones. Now, the reason it tells us so much is that long-term rates show us what markets think short-term ones will average over that time, plus a little extra to make up for the risk that inflation ends up being higher than expected. So when long-term rates are lower than short-term ones — what's known as an inverted yield curve — it means that investors think short-term rates will be lower in the future than they are today. And why would that be? The only reason is if the Federal Reserve is going to have to cut them to fight a recession.

And now the rest today's story.....


Jobless Claims Plunge by More than Expected to Near 49 Year Low

The number of Americans filing for unemployment benefits fell by more than expected last week

Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended Sept. 29, the Labor Department said Thursday.

Hurricane Florence, which hit North Carolina and South Carolina last month, affected claims, according to the Labor Department. The largest increases in initial claims for the week ending September 22 was in North Carolina. Claims in South Caroline rose by 2,830, the third largest rise behind Kentucky.

Economists had forecast claims falling by 1,000 to 213,000 in the latest week. A year ago there were 265,000 new claims.

Claims were new the recent low of 202,000, hit during the week ended September 15. That was the lowest level since November 1969.


PFIZER CEO STEPS DOWN AS GENERIC ALTERNATIVES SHAKE THE MASSIVE DRUG COMPANY

  image from www.bing.comPfizer Inc. CEO Ian Read will entrust his position to COO Albert Bourla on Jan. 1, 2019, but Read will remain as executive chairman of Pfizer’s board of directors after a tenure during which the company’s stock increased roughly 160 percent.

“The company has come out of the abyss it was in, and is really poised for growth,” Read, 65, told The Wall Street Journal. “Given my age, it’s time for me to move on.”

Read became the giant drug company’s CEO in 2010. The “abyss” he refers to could be drug patent loss: Read’s leadership helped Pfizer continue to innovate as it lost revenue when the patents for its products like cholesterol medication Lipitor ran out, reported TheWSJ.

Read’s replacement Bourla has been in charge of Pfizer’s “vaccines, oncology and consumer health care business,” reported the Chicago Sun-Times.