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A rounding error may be only thing keeping U.S. economy from negative GDP in first quarter of 2017

As we wait upon the 'official' final number from the government regarding first quarter GDP, on April 27 both the Atlanta Fed and JP Morgan downgraded their forecasts to .02 and .03% respectively.  And in essence this equates to little more than a rounding error since government modeling adds in double 'seasonal adjustment' variables that tend to always skew the outcome positive. We now believe that real GD ...

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Nothing to see here as Dow crosses back over 21,000 and global markets hit new all-time highs

Despite continuing insolvency threats to Italian and German banks, economic data that shows the U.S. is well into a recession, and central banks that are tapering their punch bowls at a rapid pace, on April 25 the markets have summarily ignored all true indicators and are back into the sphere of 'irrational exuberance' as the DOW once again crossed back over 21,000, and world exchanges achieved new all-time ...

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IRS to commission bounty hunters to try and find income tax avoiders

It appears that Dog the Bounty Hunter could one day make a comeback as the Internal Revenue Service (IRS) is planning on hiring civilian skip tracers to go after individuals who have failed to file tax returns, or who may owe taxes and fines. In a new policy established by the IRS, the government agency that often acts outside the law itself would see the use of bounty hunters to go after American citizens ...

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Eurasia preparing for the next stage of economic cooperation by expanding to BRICS Plus

Trade coalitions based on economics rather than politics are becoming the standard in both Asia and Eurasia, with organizations such as the Eurasian Economic Union (EEU), the Shanghai Cooperation Organization (SCO), and the Asean partnerships acting as mediators for countries to once again conduct trade using their own, or dollar alternate currencies. Ironically, when Goldman Sachs dubbed five emerging mark ...

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Financial warfare an integral part of the military’s new advanced education

A couple of week's ago, financial analyst and economist Jim Rickards was invited to give a seminar at the U.S. Army War College in Carlisle, PA on the foundation, effects, and need for economic warfare to be an integral part of the military's overall battle plan.  And in today's world of cyber hacking and how rogue nation's use counterfeiting as well as electronic theft to fund their regimes, it is vitally ...

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Fed, ECB, and other central banks hiding global recession risk from the public

As the Atlanta Fed came out with another downgrade for Q1 GDP estimates earlier this week, the reality is that the U.S. economy is or has been in recession for at least the past two years.  And just as former Fed Chairman Ben Bernanke refused to admit that the country was in negative growth in 2009 despite the fact that during that period the downturn would become known as the Great Recession, central banks ...

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Barclay’s whistleblower shows Bank of England involved in global Libor fraud

As Barclay's current CEO engages in a witch hunt to try to find the source of who leaked recordings that showed the European bank was deeply involved in the rigging of Libor rates over the past 10 years, an interesting counter-party was discovered to have also been involved in artificially lowering the rates in which banks lend to one another, and from which billions of commercial transactions depend upon. ...

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Former Goldman Sachs Executive and Trump adviser tells Congress to pass a new form of Glass-Steagall

You know that a system is completely out of whack when a former executive of Goldman Sachs tells Congress to reinstate a law that would potentially lessen profits for the same investment bank he used to work for.  But that is exactly what Trump adviser and the former COO of Goldman did on March 5 when he held a private meeting with the Senate Banking Committee to push ahead with the means to break up the to ...

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2007 Redux: American consumer credit card debt now over $1 trillion and to levels not seen since 2008 crash

The last time that Americans had a combined credit card debt of over $1 trillion was in 2007 and just prior to the financial crash of 2008.  That is until today where for the first time in a decade consumers have tapped into their revolving debt to where it is now equal to what it was just prior to the global banking crash. Yet this is not the only parallel to 2007 for the U.S. economy as home prices also n ...

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Heading into the final tallies of Q1, the Atlanta Fed downgrades its GDP estimate to .6%

As we have noted many times, the hundreds of 'Ivy League' economists under the umbrella of the Federal Reserve aren't worth a lick of salt when it comes to forecasting, or creating monetary policies based on real economic numbers.  This is because they are more ideological (Keynesian) and political than the supposed 'neutrality' stance they try to covey, and as such they follow in lockstep with the governme ...

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Tesla stock valuations put to rest any question that the market isn’t just one big bubble

Prior to the Dot Com market boom, and the eventual rise of central bank influence in the equity markets, if you were to ask any broker or analyst what the valuations of a company that makes no profit and has to be subsidized by the government were, they would probably answer you by saying that company traded on the OTC markets, or perhaps even on the penny stock sheets.  But those days are far gone, and ins ...

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Central banks beginning to think the Euro is garbage as they swap reserves for the British Pound

Perhaps EU President Jean-Claude Juncker and ECB head Mario Draghi didn't get the memo, but it appears that central banks are beginning to think that their continental currency is garbage.  And in response to the declining confidence and trust in the Euro, many are making the move to instead fill their reserves with the British Pound despite all the rhetoric over Brexit. With ongoing turmoil raging in Europ ...

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