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Following last week’s coup to oust Zimbabwe’s Mugabi, Venezuelan President Maduro tries desperate move with new sovereign cryptocurrency

As Zimbabwe began moving into its newest round of monetary hyperinflation, the government finally decided to step in last week and force out the long reigning dictator Robert Mugabi.  And with Venezuela also residing in a state of hyperinflation and imminent insolvency, President Maduro appears to be trying one last desperate act to stay in power by announcing on Dec. 3 plans to create a sovereign cryptocur ...

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As an entrepreneur forecasts the death of cash, one major bank is already seeing this at their local branches

On Dec. 1 Evan Sohn, an enterpreneur in the tech industry, spoke to the panel on CNBC about the declining use of cash in the economy, and how digital payments will one day soon make the holding of physical cash obsolete. The world will soon be left without paper money, says tech entrepreneur Evan Sohn, as more and more people move to non-cash transactions. "How far are we from a restaurant that says we only ...

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Millennials are not only expected to make less than their parents, but also never have a chance to retire

Thanks to an economy that has seen wage stagnation for more than a decade, and a debt load unheard of by individuals before the age of 25 thanks to their student loan obligations, a new study within the financial industry asserts that not only will millennials be the first generation not to exceed the previous one economically, but also that they should expect to never be able to retire. Perhaps then it sho ...

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Fed is fighting the last war and incapable of dealing with coming collapse that could be six times greater than 2008

According to economist Jim Rickards, the global financial system could very easily see a meltdown six times greater than what took place in 2008, and where central banks today would be incapable of handling such a collapse.  And One of the primary reasons for this according to Rickards is that the Fed, along with other central banks, are 'fighting the last war'. In a famous documentary about World War I, hi ...

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Trump victory over Obama holdovers at the CFPB who are alleged to have conned banks into funding ant-Trump organizations

When two of the biggest swamp dwellers in Washington pushed through the corrupt Dodd-Frank Banking Reform Act back in 2010, one of the by-products of this egregious legislation was in the creation of the Consumer Financial Protection Bureau.  And with prior Obama era holdovers actually suing the Trump administration for replacing them in offices they felt 'entitled' to have, a judge laid down the law on Nov ...

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Sales at Amazon to start Cyber Monday already forecasting a massive record

Over the weekend we published news and data on how strong online commerce was for Black Friday as well as how brick and mortar sales were down for the third year in a row.  Now on Cyber Monday, which is predictably the year's largest day to shop online, early reports from Amazon show that this year will shatter all previous records for Cyber Monday sales. Preliminary reports for Black Friday and Thanksgivin ...

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Black Friday sales hit record highs, but primarily online as Brick and Mortar sales were muted

The shift from brick and mortar buying to online purchases may have finally crossed the Rubicon this year as early numbers show that this year's Black Friday shopping reached an all-time high, with record sales occurring online, and lower traffic volumes hitting commercial stores. Thanksgiving holiday sales in the US hit their highest  record, led by a solid demand for electronics and an accelerated expansi ...

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A tale of two ‘cities’ American style

On Black Friday (Nov. 24), Amazon stock shot up during the day's market trading session which allowed CEO Jeff Bezos to become the first American to be worth over $100 billion... at least on paper.  And when you couple his wealth with the other two richest men in the U.S., their combined riches are greater than the total accumulated wealth of the bottom 50%. However the rapid increase in wealth for these me ...

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Past excitement of Black Friday waning as sales and traffic at brick and mortar stores down for third straight year

Up until 2015, Black Friday was comparable to a new Apple product release for many shoppers as masses of people would camp out in front of stores hours in advance to try to grab the limited amount of special deals waiting just inside the doors.  However over the past three years, sales and markdowns that began as early as the Monday before Thanksgiving coupled with online shopping have begged the question f ...

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Declining birth rates in the U.S. by millennials oppose the narrative that the economy has recovered

Over the past 100 years there have been three periods where fertility rates in the U.S. dropped to dangerous levels, and each one took place at a time when America was in the midst of, or just getting out of, an economic crisis. Beginning with the Great Depression of the 1930's, and followed again by the eras of stagflation in the 1970's and of course the more recent Great Recession of 2009-10, these three ...

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A little bit of deflation this Thanksgiving holiday as cost of dinner falls to five year low

The majority of Americans know that despite the Federal Reserve and the government lying to them about how low inflation is in the economy, the reality is that all one has to do is stop by their local grocery store to realize that prices for nearly everything of substance have gone up annually over the past two decades.  And this can also be seen each year during Thanksgiving as the cost of the average dinn ...

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While the last few years of populism have been focused on the political, expect the next leg of change to be economic

In an interesting correlation between today and the last great populist movement from the 20th century, each stage of the movement appears to be going in lockstep with what took place during the previous cycle of the 1920's and 30's.  And in a new study published by billionaire hedge fund manager Ray Dalio, that next step following the political unrest of a populist uprising is the pendulum swinging around ...

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