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Kenneth Schortgen Jr.

New jobs severely decline in May despite fake unemployment rate dropping to 4.3%

On Friday June 2 the Bureau of Labor Statistics issued its latest jobs report for the month of May, only to see the number of new jobs grow by even less than the lowest analyst estimate.  And then to add humor to the equation, this same government agency reported a decline in the unemployment rate thanks to slicing off 608,000 Americans they deemed no longer worthy to be counted in the labor pool. As previe ...

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Legendary investors states sanctions against Russia have actually helped their economy, not hurt it

Famous intellect Albert Einstein once coined the definition of insanity to be when one does the same things over and over and expects a different result.  And while Washington's use of economic sanctions may have achieved a certain amount of success a couple of decades ago when they were used against Iraq leading up to the Gulf War in 1991, and Hussein's final ouster in 2003, they have proven themselves to ...

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Ratings agencies downgrade the State of Illinois to virtual junk

In a place where they have the largest migration of people leaving the state, and are near the top of the list for financial insolvency in the country, on June 1 the ratings agencies of Moody's and S&P downgraded Illinois' credit rating to just one step above junk. Ever since the 2008 financial crisis the state of Illinois has seen its budget deficits go up, its crime rates skyrocket, its taxes increase ...

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EU politicians will fail in their attempts to enact Donald Trump’s ‘Art of the Deal’ over Brexit

One of the primary reasons why most governments are either bankrupt, under massive debt, or completely insolvent is because politicians have no real understanding of money, finance, and economics.  And it is also why most of their legislation today is written for them by corporations such as with Obamacare, and with Dodd-Frank. In fact the majority of politicians in the West are a combination of lawyers and ...

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Congratulations! Ratings agencies give tapped out consumers a boost to borrow more money to buy thin

It has been nine years since the crash of the last housing bubble, and the advent of millions of Americans experiencing foreclosures which crushed their credit scores below the levels in which they could borrow money at a decent rate.  And since these dings on one's credit score, along with those who also may have experienced their own hits from defaulting on miscellaneous consumer credit vehicles such as c ...

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PC absurdity: Theater lets women get exclusive view of Wonder Woman despite character being created by a man

Back in the heyday of comic books, the majority of readers in this genre were overwhelmingly boys (males) and it didn't often matter whether a hero was male or female. And although the majority of women superheroes were often relegated to being sidekicks or second tier players in the storylines, the fact of the matter was the industry was created by men, for men, and the genre followed this business model w ...

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Move over JP Morgan and Goldman Sachs, it is China, not the U.S., who has the world’s largest public company

Despite the fact that because of their manipulated GDP numbers, the U.S. is still considered the world's number one economy.  However the reality is that they have already been surpassed by China in nearly every other facet of economic and financial measurement.  And at the top of this list are China's domination in both productivity and in banking. Which is why it should come as no surprise that on May 24, ...

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Congress fights Trump’s budget proposal as welfare programs reach record levels of applicants

Earlier this week, the Trump administration rolled out the President's next fiscal year budget proposal which on the surface seeks to cut $1.7 trillion from expenditures over the next 10 years. But as most Americans know from years of experience, Congress doesn't have the stomach to cut anything once they have promised it as an entitlement to the majority of the people.  And it is no different today with th ...

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Long-time investor who was fictionalized in movie Wall Street reveals markets controlled by the PPT

For most traders and investors, the cable business channel CNBC is nothing more than a stock hawking program that moonlights as a mouthpiece for the Fed.  And perhaps their best example of being nothing more than a round table to provide CEO's the opportunity to spin their companies problems into rainbows was just before the 2008 financial crisis when they allowed the former CEO of Bear Stearns to come on t ...

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Housing bubble 2.0? New and existing home sales drop at same time prices reach record highs

Since the only thing the Federal Reserve knows how to do is print money and create asset bubbles, it should come as no surprise that nine years after the bursting of the last housing bubble, the economy has achieved success in the creation of another one.  And as data comes out for the month of April showing slumping sales in both new and existing homes, the contradiction to the this data is in the fact tha ...

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With 77 countries already signed onto the AIIB, China expects bank to grow to 85 by end of year

In just a few short years, China's Asian Infrastructure and Investment Bank (AIIB) has grown at lightening speed, already having 77 nations sign onto the Asian equivalent of the West's IMF.  And in a recent Conference on development in Jiangsu Province, the President of the AIIB suggested that this number will increase to 85 countries signed on board by the end of the year. This new growth in the developmen ...

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President Trump proposes budget that will force Congress to show Americans their fiscal irresponsibility

On May 22 early reports came out on President Trump's first budget proposal that is expected to not only be rejected by both parties in Congress, but reveal to the American people how the legislative branch has no intention of ever cutting spending. In details leaked out from Trump's budget proposal, the President is seeking to cut $1.7 trillion from entitlement programs over the next several years, with a ...

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