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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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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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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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