How the Federal Reserve Is Killing America
The Federal Reserve, America’s central bank, exists to serve big banks and Wall Street. There is no other reason for the existence of the Fed. None.
Money
Get your money out of Britain: Global banks warn investors ‘Yes’ vote would be ‘cataclysmic’ for UK economy
International investors have been warned to pull their cash out of Britain to protect themselves against the ‘cataclysmic’ impact of Scottish independence. Japan’s biggest bank, Nomura, warned sterling could plunge by 15 per cent in the event of a ‘Yes’ vote – amid warnings over a ‘run on UK assets’ threatening savings and pensions of ordinary families. It came as it emerged David Cameron has pleaded with business chiefs to publicly warn against Scottish independence.
Price Of Milk Soars To Brand New Record High
Milk futures rose to a record as exports by the U.S. climbed amid shrinking inventories of cheese and butter, signaling higher costs for pizza and pastries.
Will Mexico become the top exporter of automobiles to the United States?
Mexico is on track to become the top exporter of automobiles to the United States, and it’s the Japanese automakers like Mazda, which has all but pulled the plug on U.S. production, making that happen.
McDonald’s Monthly Sales Slump Worst Since 2003
McDonald’s Corp. (MCD), the world’s largest restaurant chain, posted the worst same-store sales decline in more than a decade, hurt by sluggish demand in the U.S.
Small Business Ownership In The U.S. Has Dropped To The Lowest Level Ever Recorded
According to the Federal Reserve, the percentage of American families that own a small business is at the lowest level that has ever been recorded. In a report that was just released entitled “Changes in U.S.
De-Dollarization Continues: China-Argentina Agree Currency Swap, Will Trade In Yuan
It appears there is another nation on planet Earth that is becoming isolated. One by one, Russia and China appear to be finding allies willing to ‘de-dollarize’; and the latest to join this trend is serial-defaulter Argentina. As Reuters reports, China and Argentina’s central banks have agreed a multi-billion dollar currency swap operation “to bolster Argentina’s foreign reserves” or “pay for Chinese imports with Yuan,” as Argentina’s USD reserves dwindle.
Job Growth Dives 33%~One Third of All Jobs Temporary
The United States economy added only 142,000 jobs in August, compared with an average monthly gain of 212,000 over the prior 12 months, dropping 33%. It was the smallest gain since January. The small amount of jobs added occurred in professional and business services and in health care.
Why Is The Labor Force Participation Rate In The U.S. At A 36 Year Low?
Should we be concerned that the percentage of Americans that are either working or looking for work is the lowest that it has been in 36 years? In August, an all-time record high 92,269,000 Americans 16 years of age and older did not “participate in the labor force”. And when you throw in the people that are considered to be “in the labor force” but are not currently employed, that pushes the total of working age Americans that do not have jobs to well over 100 million.
53 Million Temps: All You Need To Know About The ‘Jobs Recovery’
After years of ignoring the obvious, the Federal Reserve has been finally forced to admit that the labor force participation rate matters, and in fact has started to point it out as a clear negative when it comes to Yellen’s “dashboard” of thresholds which will allow the Fed to raise rates (for the obvious reason that the Fed is desperate to delay ZIRP as long as possible and is now highlighting all that is wrong with the economy, contrary to Obama who is still focusing on all the rigged greatness of the US recovery) and to do so is going through Zero Hedge archives to note all those things which everyone had ignored for years and which we have pointed out as structural failures of the so-called recovery. So while we are happy to oblige the Fed with our tens of thousands of articles summarizing what is broken with the US economy thanks to, well, the Fed, here is another one: one which the Fed can use next year when the time to hike rates has come and gone, and when the Fed is once again scratching its head what to blame it on.
Record 92,269,000 Not in Labor Force; Participation Rate Matches 36-Year Low
A record 92,269,000 Americans 16 and older did not participate in the labor force in August, as the labor force participation rate matched a 36-year low of 62.8 percent, according to the Bureau of Labor Statistics. The labor force participation rate has been as low as 62.
Most People Don’t Believe It, But We Are Right On Schedule For The Next Financial Crash
People have such short memories. Even though we are repeating so many of the same patterns that we witnessed in 2000-2001 and 2007-2008, most people do not think that another financial crash is coming. In fact, with the stock market setting record high after record high lately, I have been taking quite a bit of criticism for my relentless warnings about the coming financial storm.
Nearly 1 Out of 3 Americans Not Working
The Total Number of Americans Not in the Labor Force is over 92 million~ about 1/3 of the population. The latest official government statistics put the unemployment rate in the U.S.
A Shocking Percentage Of Americans 50-64 Haven’t Saved A Dollar For Retirement
A deeply disturbing survey reveals how severe the retirement crisis in the U.S. truly is.
The Seven Year Cycle Of Economic Crashes That Everyone Is Talking About
Large numbers of people believe that an economic crash is coming next year based on a seven year cycle of economic crashes that goes all the way back to the Great Depression. What I am about to share with you is very controversial. Some of you will love it, and some of you will think that it is utter rubbish.
Foreign Ownership of U.S. Government Debt Passes The 6 Trillion Dollar Mark
For the first time in the nation’s history, foreign interests now own more than $6 trillion in U.S. government debt, according to the most recent Treasury Department report on major foreign holders of the debt, which includes the numbers through the end of June.
Student debt becoming a larger albatross for economic growth: $1.2 trillion in student debt is outstanding and many college graduates working in jobs that don’t require their degree
There was a time when going to college made sense in every feasible way. It made sense professionally, economically, and many college graduates have a wonderful time in the process of completing their degrees. Most would argue that learning is vital in growing and moving forward.
Latest Housing Numbers Reveal Disturbing Trends
There was much celebration regarding the jump in July housing starts and permits, which literally blew away Wall Street expectations, being the highest since November 2013. So is this the housing recovery everyone’s been waiting for? Sadly, no, because one glance at the internal numbers reveal that virtually all of the surge higher was due to a big jump in multi-family starts.
Will gold and silver really be good investments when the financial system collapses?
Is silver really a good investment for barter? Should you invest in silver or gold for a safety net in case the economy gets worse? I’m going to go over the pluses and minuses of each and tell you what I think.
Cyberattacks: Perpetual state of siege for U.S. companies
The financial industry — indeed, most of the business world — works within a state of almost perpetual cybersiege at a level few consumers grasp. And the costs and dangers are growing for those who seek to protect their assets and their customers. “The constant barrage of attacks is real,” says J.