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Kenneth Schortgen Jr.

China’s AIIB to induct 13 new members into its alliance

On March 23 China announced that 13 new member states, including Canada, will be joining the Asian Infrastructure and Investment Bank (AIIB).  In fact, with Canada's induction to the alliance they will become the first North American country to enter into China's alternative to the IMF, and continue the world's movement away from U.S. hegemony. Canada will join the Asian Infrastructure Investment Bank (AIIB ...

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As the ECB hints at allowing insolvent banks to fail, Italians move closer to electing an anti-euro candidate

On March 23 it appears that Italy has become the new Greece in the eyes of the ECB and the Troika as Europe's central banking authorities begin to drop hints that as the ECB begins tapering its QE programs, insolvent banks may simply be left to die without any monetary intervention. Speaking to the European Parliament yesterday, Danielle Nouy, head of the ECB supervisory body, informed the bureaucracy that ...

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Paradigm shift: American consumers switching from beer to pot in growing numbers

Despite the harsh rhetoric coming down from the new President and Attorney General, the future of American recreational consumption is growing squarely in the camp of cannabis over the long-standing drug of choice, alcohol. In a new survey of 40,000 primarily long time beer drinkers, over 27% stated that they would and are switching over to pot from alcohol in locations that have legalized the drug, and in ...

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Alabama town busted for jailing poor citizens in illegal debt prisons

While institutionalized debtor's prisons in the U.S. had been pretty much abolished since just before the Civil War, the practice of imprisoning individuals for failure to pay court ordered civil duty obligations has continued in local, state, and even Federal jurisdictions.  And the most common examples are with those considered to be 'dead beat Dad's' who fail to pay their court mandated child support. Bu ...

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UK to initiate and submit Article 50 for Brexit by end of month

On March 20, a spokesperson for Britain's Prime Minister Theresa May announced that the government would be submitting paperwork to initiate Article 50 on March 29 to fulfill the will of the people in exiting from the European Union. Nine months after the voters in the UK went to the polls and said yes to a Brexit from the EU, the island nation is now on the verge of becoming the first country to break away ...

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Senator Rand Paul introduces bill to restore American’s 4th Amendment rights and end civil forfeiture

One of the most egregious laws created over the past 40 years that has morphed into pure and simple government theft, is the statute regarding Civil Forfeiture and the 'right' of the state to seize your property without you either committing a crime, or them having to follow due process under the law.  In fact, civil forfeiture has become so widespread that state, local, and federal governments have illegal ...

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Huge decline for industrial production adds more credence U.S. economy is now in recession

By all historic measures the U.S. economy has probably been in a continuous recession since 2000 following the collapse of the Dot Com bubble, and most definitely with their entry into what became known as The Great Recession following the 2008 financial crisis.  And by historically we are of course referring to data modeling based on 1980 measures rather than on today's government reporting which has exper ...

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Greek people move to the ammo box against banksters and politicians as eight years of trying the ballot box fails

A few years ago the Greek people sought to change their government in an attempt to stop the looting and pillaging of their country by the EU and Troika following the 2008 financial crisis, and the un-elected rule placed upon them through Goldman Sachs technocrat Lucas Papademus.  This of course led to the installation of the Syriza party and the current Prime Minister Alexis Tsipris. But in 2013 the Greek ...

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Atlanta Fed drops Q1 GDP again as indicators continue to scream economy is in recession

On March 15, just hours before the Fed's FOMC meeting culminated in the central bank raising interest rates once again, the Atlanta regional Fed bank lowered its forecast for Q1 GDP to below 1% validating further belief that the U.S. economy is severely slowing down in 2017. After reporting an estimate for the GDP of 1.2% just two weeks ago, the Atlanta Fed updated their newest estimate to .9% following two ...

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Trump ready to drain the Washington swamp thousands of bureaucrats at a time

As of 2015, a whopping 21.5 million Americans were employed by the Federal, State, and local governments.  And although increased growth in Federal government employment fell off a bit over the past eight years under Barack Obama, it still grew by 10% during the former President's tenure ending this past January. So for the new President Donald Trump to say that the government is extremely wasteful and has ...

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As consumer spending falls off a cliff and consumer debt gets maxed out, FICO scores set to change to make borrowing easier

Back between 2004 and 2008, the financial system's desire to get anyone into a home was so great that even if you didn't have a job or couldn't afford a home, lenders would manipulate applications so that those below the poverty line were able to purchase $600,000 and higher McMansions. Now in 2017 when once again many American are maxed out on their debt limits and consumer spending is falling off a cliff, ...

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Europe becoming so bad that ethnic Russians are repatriating back home in massive numbers

Contrary to the propaganda from the mainstream media that Russia is in dire economic straits and that the European Union is doing well, over 150,000 ethnic Russians decided to repatriate themselves out of Europe and from former Soviet satellite states to return to their ancestral homeland in 2016. Although primarily leaving from Baltic states like the Czech Republic and Romania, over 20% of the moves came o ...

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