Evidence suggests that we can expect devastating global economic changes in 2014 as a result of our national debt, further impoverishment of the working class, and massive new tax burdens resulting from President Obama’s health care legislation. The fundamentals, by most accounts, are indicative of an economy on the cusp of a total detonation within the next year.
Worker strikes and public protests outside fast food restaurant chains are kicking off across the country on Thursday as low-wage employees in the industry are demanding a federal living wage of $15 an hour.
U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit is insolvent, a legal criteria for bankruptcy, meaning it can cut public pensions for the bankruptcy filing.
The minimum wage struggle is occurring at the intersection of powerful forces. It’s taking place at a time of growing economic inequality, the erosion of working people’s rights, and the globalization of an economic oligarchy whose scope of power is unprecedented in modern times. And now it appears to be applying an old maxim from the early days of the environmental movement: Think globally, act locally.
One of the men that won the Nobel Prize for economics this year says that “bubbles look like this” and that he is “most worried about the boom in the U.S. stock market.” But you don’t have to be a Nobel Prize winner to see what is happening. The financial markets have been soaring while the overall economy has been stagnating. Reckless injections of liquidity into the financial system by the Federal Reserve have pumped up stock prices to ridiculous extremes, and people are becoming concerned.
‘We are on the cusp of something historic happening on the Comex,’ says TF Metals Report’s Turd Ferguson. In this roundtable discussion which also includes the Doc from Silver Doctors, we examine the strange purchase of gold contract with a $3,000 strike price in 2015. We cover the PROVEN Gold and Silver manipulation with the London fix, we chat about the new gold-backed crypto-currency known as e-gold, and we finish with the gripping story of the very real drain on the Comex. ‘We know that for the first time anyone can remember, the US banks are net long Comex gold futures, US banks meaning JP Morgan. And net long to the point of having CORNERED the paper gold market in New York because the position is so large. I’m talking the extent of 20% of open interest. And now we’re heading into the December delivery period…”
The struggle of working Americans took center stage as Black Friday protests covered the country. The struggle for wages that do not leave families impoverished is one that affects us all and highlights the unfair economy created by a class war waged by the wealthy for decades. The ‘Walmartization’ of the US economy has created a downward spiral in wages and destroyed small businesses and communities while heightening the wealth divide that is at the root of so many problems. The war on working people is a war on all but the wealthiest Americans. And, the fight for more worker rights and wages is gaining a critical mass.
Black Friday Insanity: sad, crazy, insane, bizarre, absurd, confounding, depressing, madness, and insane are just a few words to describe Black Friday. Here are two more videos (the first with Abby Martin and the second with Anthony Gucciardi) providing analysis of the Black Friday insanity…
Michael Lombardi writes: Key stock indices are roaring higher each day. The S&P 500 is breaking through to new records; the Dow Jones Industrial Average sits above the 16,000 level, and the NASDAQ Composite Index trades at a level not seen since the Tech Boom. Sadly, as all of this happens, the one fundamental that has historically driven stock prices higher—corporate earnings—is missing from the equation.
If just a fraction of the world’s Catholics, plus other non-Catholic yet progressive-minded people, take Pope Francis’s values to heart, organize around them, and “evangelize” (in a non-denominational sort of way), then a “Catholic Spring” to inaugurate a new period of activism to help solve the problems of inequality here and across the globe may be on the horizon.
In his first major work, Pope Francis urged the Catholic Church to commit itself to fighting poverty and called on world leaders to become more concerned about the current state of society. He opened the door to reforms of Vatican bureaucracy while reaffirming that female priests and the church’s opposition to abortion is ‘not open to discussion.’
Welcome to the 5th episode of Michael Maloney’s Hidden Secrets Of Money. In this instalment, we travel to Berlin and Frankfurt, where we were able to film the money museum inside the Bundesbank…one of the world’s largest Central Banks.
With all that is being written about the national economic collapse, people seem to be waiting for some huge event. However, for many North Americans, the collapse is here. This isn’t relegated to only lower income neighborhoods. For many people who were formerly financially comfortable, the economic collapse has already happened in the form of a job loss, hours that have been cut back due to Obamacare requirements for employers, an exorbitant medical bill or other crushing debt, or simply an inflation rate that has outstripped your pay increases.
Global regulators need more policy tools to counter the risk of devastating bank runs and should have powers over a wide array of market participants, U.S. Federal Reserve Governor Dan Tarullo said on Friday.
China has announced that the time has come for it to stop stockpiling U.S. dollars. And if that does indeed turn out to be the case, then many U.S. analysts are suggesting that China could also soon stop buying any more U.S. debt. Needless to say, all of this would be very bad for the United States.