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Kenneth Schortgen Jr.

Fitch ups ante and increases number of potential retail bankruptcies from eight to eleven

Just one month ago, the Fitch ratings agency published a list of retailers they believed had the strong potential to fail and would need to file for bankruptcy protection just to survive.  And between mid April when that list was published until today, one company on that list did go insolvent and announced bankruptcy proceedings. When the Fitch ratings agency announced that a number of retailers were sitti ...

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Governor Moonbeam Jerry Brown insults taxpayers as freeloaders for not wanting to pay even more taxes

As former British Prime Minister Margaret Thatcher once said, "Socialism only works until you run out of other people's money."  And when you couple this with radio talk show host Michael Savage's famous quip that goes "Liberalism is a mental disorder", then you are able to understand the mindset of certain government officials who not only have a disdain for people who actually have wealth, but they also b ...

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Greek austerity reaches saturation point as police now joining with protesters against government

One of the more important geo-political events we have been watching and waiting on the sidelines for in recent weeks is at what point would the police and military finally capitulate to the protesters in Venezuela and realize that the only way things would change in the South American country was to physically oust President Nicholas Maduro in a military coup.  But as that has yet to happen despite their e ...

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Turning point as Davos elites suddenly buying into the Silk Road initiative

With last weekend's Belt and Road Forum now in the history books, the significance of an ever-growing trade route from Korea to London has finally moved from being ignored by the Western elites, to suddenly being seen as a serious threat.  And on May 17 members of the World Economic Forum (Davos) are taking note and have put the new Silk Road 2.0 project squarely on their upcoming Summer agenda. The World E ...

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Pirates of the cyber Caribbean holding Disney movie for ransom

Just two days after the worldwide WannaCry ransomware hack swept across the world, wreaking havoc to banks, medical facilities, and corporate entities, a new ransom attack has emerged which puts one of Disney's billion dollar movie franchise on the edge. On May 16 it was reported that an unknown hacker, or group of hackers, have stolen a digital copy of Disney's upcoming Pirates of the Caribbean movie, and ...

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It didn’t take long for next retailer to file for bankruptcy as Rue 21 initiates court protection

When the Fitch ratings agency announced that a number of retailers were sitting on the brink of insolvency less than a month ago, it didn't take long for one of them on that list to initiate bankruptcy proceedings for their business.  And on May 16 Rue 21 became the newest company to file for protection from creditors. In its bankruptcy petition, the company which retained Kirkland & Ellis as legal advi ...

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Hillary Clinton is back with new scheme to get donations now that Clinton Foundation has been scuttled

With Hillary Clinton losing the Presidential election last November, perhaps the most important thing to the Clinton cabal was their sudden drying up of donations to their foundation because without the ability to guarantee political and contractual favors, there was no more need to 'pay to play'. The Clinton Global Initiative (CGI) filed a WARN ‚ÄĒ Worker Adjustment and Retraining Notification ‚ÄĒ with New Yor ...

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In Q1 the economy saw retail bankruptcies emerge, and now in Q2 it’s the restaurant’s turn

Following last year's dismal holiday shopping season numbers, several retail chains announced that they were cutting thousands of store locations and tens of thousands of jobs, with even a few like Payless Shoes, Eastern Outfitters, and Wet Seal all filing for bankruptcy protection in the first quarter of 2017. And in news out on May 13, the second leg of the consumer triumvirate appears to be ready to join ...

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Stock market has replaced pits on Wall Street with antennas in New Jersey and Chicago

With the advent of high frequency trading, and exchanges allowing the big banks to front run every trade made on their platforms, the antiquated system of buying and selling in 'pits' by live hawkers is long gone and has been replaced by antennas in the fields of New Jersey and Illinois that stand as monoliths to the greed of Wall Street. Today's Wall Street trading platforms Banks and major brokers pay mil ...

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More bad news for college students as Fed rate hikes leading to higher interest on student loans

In our current debt based financial system, the banks, as well as the Federal Reserve, continuously need borrowers to to keep the ponzi monetary system going.  And whether it was through the creation of a housing bubble from 2003-2007, or the current bubbles tied to student loans, automobiles, and equities, the moment debt borrowing begins to slow down is the moment the economy rushes full force into the ne ...

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Treasury Department creates website where the public can follow where their tax money goes

On May 9 the U.S. Treasury Department launched a new website intended to allow the public to follow where their tax money goes in regards to government spending. Labeled as USA Spending, the website is an attempt to show a bit of transparency when it comes to how the government spends your money, and provide real time tracking of dedicated monies. On Tuesday, the US Treasury launched a new website designed ...

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Kushner family visa scheme replaces Clinton Foundation pay to play in Trump administration

One of the biggest bombshells to come out of the 2016 Presidential elections through the Wikileaks revelations was how Hillary Clinton was using the office of the Secretary of State to conduct a pay to play scheme to funnel billions of dollars into her Clinton Foundation.  And while this vast cronyism was barely covered at all by the mainstream press, it potentially played a role in helping Trump to win the ...

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