Source – zerohedge.com – Over the past several months, as a result of their lockout from capital markets, Greek banks’ reliance on the ECB’s Emergency Liquidity Assistance has soared, and at last check was somewhere in the mid-€70 billion range. The conventional wisdom was that the ECB was merely plugging the hole created weekly (and…
Source – sputniknews.com – An expert in machine learning warns that advances in technology could mean the replacement of nearly half the US human workforce with computers over the next two decades. University of Oxford Associate Professor Michael Osborne evaluated 702 occupations in the US and predicted 47% could be taken over by computers and machines in the foreseeable…
Source – thecontributor.com – There’s something perversely wrong with a society that creates $30 trillion in new wealth while putting six million more children on food stamps. The mainstream media rarely publishes facts like this. The super-rich keep building up their own numbers, as quietly as possible. And our leading members of Congress have little need…
Source – naturalnews.com – You may recall learning a little bit about medieval English feudalism while in World History class in school. It was a governing system introduced by William I, better known as William the Conqueror, in which he divided up land and gave it to “nobles” who fought for him and did well…
Source – zerohedge.com – The transformation of the American Dream, most broadly manifested in popular folklore as the aspiration of the US middle-class to own a home (even if it means agreeing to a 30-year loan with one’s friendly neighborhood TBTF bank), into the American Nightmare, in which an entire generation (the Millennials) is locked…
Source – mybudget360.com – Economic recoveries take on a variety of shape and sizes. With stock markets reaching new highs you would expect that some of the fruits of this boom would trickle down to American workers. But some of the booming trends are continuing on the path of low wage labor and certainly, of…
Source – .commondreams.org – “Happy Monday! S&P 500 now up 10% for year” —CNN Money “Third-quarter U.S. economic growth strongest in 11 years” —Reuters “The U.S. economy is on a tear” —Wall Street Journal Half of our nation, by all reasonable estimates of human need, is in poverty. The jubilant headlines above speak for people…
Source – dark-bid.com – “America’s like a beacon in the world. But I feel like I’m watching it go down the toilet in front of my eyes. I’m fairly certain that this country is going to have pockets of Third World poverty within 50 to 60 years.” – Neill Blomkamp, director of Elysium, a dystopian…
Source – ellenbrown.com – The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend. Senator Elizabeth Warren charged…
Source – washingtonpost.com – Midway through the last game of the 2013 Carolina League season, after he’d swept peanut shells and mopped soda off the concourse, Ed Green lumbered upstairs to the box seats to dump the garbage. Green was already 12 hours into his workday. He rose at dawn to lay tar on the…
Source – journal-neo.org – American media is fond of speaking about “Russian Oligarchs” as if Russia were the only nation that allowed accumulation of such unprecedented wealth. The Yeltsin days of dis-order and collapse indeed saw the rapid rise of many fortunes and oligarchs—persons of very much wealth. Some of them have proven patriotic citizens,…
Source – firstrebuttal.com – They say a picture is worth one thousand words. And so here’s a twelve thousand word equivalent essay that quite clearly depicts how the policies of the new millennium are shaping the new world order. The powers that be have looked at these same charts, understand their implications and yet continue on…
Source – sovereignman.com – When I was growing up, my father was able to support his family of four on a single income. And when he was growing up, his father could do the same. This sort of security simply doesn’t exist anymore. These days, it typically takes two working parents just to be able…
Source – attn.com – Germany made international news last week when they decided to eliminate college tuition entirely (before this, it was less than €1,000– the equivalent to $1,300– per year). Meanwhile in the United States, the average per-year tuition cost was $8,655 for an in-state 4-year public college, $21,706 for an out-of-state 4 year public college, and $29,056 for…
Source – alternet.org, The business classes are constantly fighting a bitter class war to improve their power and diminish opposition, This is an excerpt from the 2nd edition of Noam Chomsky’s OCCUPY: Class War, Rebellion and Solidarity, edited by Greg Ruggiero and published by Zuccotti Park Press. Chris Steele interviews Chomsky. Journalist Matt Taibbi has suggested that the government is…
Source – libertyblitzkrieg.com – The increased use of eminent domain to transfer property to powerful political interests, the ramifications of the wars on terrorism and drugs, and the violation of the property rights of bondholders in the auto-bailout case have weakened the tradition of strong adherence to the rule of law in United States. We believe these factors have contributed…
Source – motherboard.vice.com – From the American Occupy movement to the surprise best-seller by the economist Thomas Piketty, income inequality is all the rage—perhaps because it’s raging. According to a newly released study, the last few decades have seen a rise of the biggest income gaps within nations since the Industrial Revolution. The OECD just…
Souce – /rinf.com/ – When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five “too big to fail” banks in the United States that each have more than 40trillion dollars in exposure to derivatives. …
Source – zerohedge.com – “You can’t eat GDP, and you can’t live in a rising stock market” is the striking phrase from NY Times’ Neil Irwin as he offers the most damning chart of the decline of America’s Economic Model (and dream). As we have explained vociferously, the most important thing to understand about…
Source – rallyagainstomalley.com – Let the worker beware: in Texas it is now entirely legal to lie to your staff. A recent decision from the Texas Supreme Court has ruled that at-will employees can’t sue their employer for fraud over the loss of their jobs. In his opinion, Chief Justice Nathan Hecht held that “while…
Source – paulcraigroberts.org – 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…
Source – nytimes.com – Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too. The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only…
Source -.therobotreport.com – (Happy days are here again – if your a robot) – At a press conference this morning at AUTOMATICA 2014 in Munich, International Federation of Robotics (IFR) President Arturo Baroncelli announced that 179,000 industrial robots were sold in 2013, a 12% jump from 2012 and the highest number of units sold ever.…
Source – jrn.com – If you are part of the middle class in the United States, you probably already know this. Even though the United States is among the top five wealthiest nations, America’s middle class is not as well off as you might think. According to the new Credit Suisse Global Wealth Report, the…
Source: charleshughsmith.blogspot.ca – What if all the low-hanging fruit of outsourcing jobs and financialization have already been plucked by Corporate America? The connection between soaring corporate profits and stagnant wages is both common sense and inflammatory: common sense because less for you, more for me and inflammatory because this harkens back to the core problem…
Source: betabeat.com – Were you hoping Amazon would go away so you could stop buying things you don’t need solely because they come in two days? Oh well. Amazon is about to multiply their robot army times 10, CNN reported. The online retailing giant announced plans to increase their robot workforce to 10,000 by the…
Source: therawstory, by Scott Kaufman – Noted leftist thinker and pioneering linguist Noam Chomsky recently sat down at the University of California, Santa Barbara, for a wide-ranging discussion titled “Propaganda Vs. Reality.” The host of the event, Professor Jan Nederveen Pieterse, began by noting that there would be, the next day, “a party celebrating the 1…
Source: rense.com – “…I have been asked at least 10,000 times in the past 8 years why I, a former candidate for President of the United States, would move out of America in favor of Europe. I can answer that in three simple bullet points: My writings have made it abundantly clear that I do…
Source: zerohedge.com – In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as “channel stuffing”, of which General Motors is particularly guilty and whose…
Source: http://theeconomiccollapseblog.com, by Michael Snyder, on May 5th, 201 – Is Detroit destined to become a Chinese city? Chinese homebuyers and Chinese businesses are starting to flood into the Motor City, and the governor of Michigan is greatly encouraging this. In fact, he has formally asked the Obama administration for 50,000 special federal immigration…
Source: cnsnews.com, By Terence P. Jeffrey – (CNSNews.com) – The real median income of American men who work full-time, year-round peaked forty years ago in 1973, according to data published by the U.S. Census Bureau. In 1973, median earnings for men who worked full-time, year-round were $51,670 in inflation-adjusted 2012 dollars. The median earnings of…
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