The cities of San Francisco and Oakland have filed lawsuits against Chevron, Exxon, ConocoPhillips, BP, and Shell for the effect of their activities on climate change: higher sea levels. The cities seek billions in damages to counteract the effects of the changing climate. Reuters quoted San Francisco officials…
Finance
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“This is where the next financial crisis will come frome”…
In an extensive, must read report published on Monday by Duetsche Bank’s Jim Reid, the credit strategist unveiled an extensive analysis of the “Next Financial Crisis”, and specifically what may cause it, when it may happen and how the world could respond assuming it still has means to counteract the next…
The Federal Reserve Is Setting America Up for Economic Disaster…
I recently had the opportunity to read “The Creature from Jekyll Island” by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions…
Small-Town American Budgets Devastated by Opioid Crisis as 41 States Subpoena Big Pharma…
A surge in Opioid consumption, primarily prescription painkillers, heroin and fentanyl – a drug 50 to 100 times more powerful than morphine – and the resulting spike in overdose related deaths is devastating families in rural America. But the opioid epidemic is laying waste to more than just the broken families…
Putin Orders to End Trade in U.S. Dollars at Russian Seaports…
Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website. To protect the interests of stevedoring companies with foreign currency obligations, the government was instructed…
Lies, Lies & OMG More Lies…
Every month the government apparatchiks at the Bureau of Lies and Scams (BLS) dutifully announces inflation is still running below 2%. Janet Yellen then gives a speech where she notes her concern inflation is too low and she needs to keep interest rates near zero to save humanity from the scourge of too low inflation.
If Jamie Dimon Hates It So Much, Why Is JPMorgan Buying Bitcoin In Europe?…
Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO Jamie Dimon’s panicked outburst with regard the ‘fraud’ that Bitcoin’s ‘tulip-like’ bubble is. To paraphrase: “It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get…
Retirees on Tap for Biggest Increase in Social Security Benefits Since 2011…
The increase in the cost-of-living allowance for Social Security benefits next year is likely to be about 2 percent, according to the latest data, which would be the biggest hike since 2011. The official increase will be released in October, after the Bureau of Labor Statistics releases the September data…
Obama Has the Same Retirement Plan as the Clintons: Lavish Speaking Fees from Wall Street…
The “Wall Street Democrats” is the wing of the party created by the Clintons and nurtured further by Barack Obama. It takes money hand over fist from Wall Street for political campaigns, wags a warning finger at Wall Street from the public podium while stuffing its administrations with Wall Street execs, then its leadership…
Former UBS Trader Arrested, Charged With Rigging Gold Prices…
Three years after we first identified the former head of UBS’s gold desk in Zurich as someone directly implicated in the rigging of precious metals prices, Bloomberg reports that Andre Flotron, a Swiss resident, was arrested while visiting the U.S., according to people familiar with the matter…
Bitcoin at Crossroads After Shedding Nearly $20B in Value…
Did Jamie Dimon obliterate bitcoin’s buzz? Bitcoin and other digital currencies have been getting absolutely toasted in recent trade, with some wondering if withering criticism from Wall Street heavyweights, like J.P. Morgan Chase’s JPM, +0.29% CEO, and growing regulatory scrutiny in China have finally combined…
Julian Robertson: “There’s A Bubble” And “It’s The Federal Reserve’s Fault”…
Call it the “bearish billionaire” curse. One month ago, MarketWatch penned “7 billionaires who are worried about a stock-market correction” which listed Carl Icahn, David Tepper, Howard Marks, George Soros, Jeff Gundlach, Warren Buffett and Eliot Singer as some of the world’s wealthiest people who are losing sleep over…
The Real Story Behind America’s New $20 Trillion Debt…
When Consultants Reign…
Saudi deputy crown prince Muhammad bin Salman’s proposal to privatize the oil behemoth Aramco is the biggest news in global business this year. Saudi citizens — not to mention Aramco executives — are stunned. After the January announcement, confusion reigned, with officials at times denying and at other times confirming…
Crackdown Begins: Chinese Banks Are Suspending North Korean Transactions…
In what may be a major breakthrough in the diplomatic and political stalemate over North Korea if confirmed officially, Japan’s Kyodo newspaper reported overnight that Chinese state banks have started suspending transactions through accounts held by North Koreans, making it nearly impossible to do business between the two countries…
Senator Lindsey Graham: Block Grants ‘Truly and Fundamentally a Different Approach than Obamacare’…
Senator Lindsey Graham (R-SC) told Breitbart News in an exclusive interview that while the congressional leadership’s healthcare bills kept Obamacare’s infrastructure in place, his coalition’s plan to repeal and replace “is truly and fundamentally a different approach than Obamacare”…
Related
Ivy League Endowments Under Fire…
China Begins to Reset the World’s Reserve Currency System…
A report released by the Nikkei Asian Review indicates that China is prepared to release a yuan-denominated oil futures contract that is convertible (backed by) physical gold. The contract will enable China’s largest oil suppliers to settle oil sales in yuan, rather than in dollars, and then convert the yuan into gold on…
Where The August Jobs Were: Who Is Hiring, And Who Isn’t…
As expected, last month’s one-time, outlier surge in leisure & hospitality, and education & health jobs was not only revised lower, but is fully gone in the month of August. Furthermore, while according to the original July report not a single category had lost jobs, that is no longer the case as the chart below […]
Expecting Defeat In Supreme Court, Public Sector Unions Try to Slow Exodus of Members…
A case titled Janus v. American Federation of State, County and Municipal Employees, Council 31 is on appeal to the U.S. Supreme Court on a petition for a writ of certiorari. The 7th Circuit’s opinion in the case is here. It is widely expected that the Court will grant certiorari. The case raises issues substantially…
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