Sometimes the truest of hard truths are to be found smack dab in the middle of the fakest of fake news. You just have to read between the lines. Take a recent story that bubbled up amid all the hype about the all-time record highs in the “What Could Possibly Go Wrong?” manipulated stock markets. You Read More…
Economy
Now That The Government Has Shut Down, Here’s What Actually “Shuts Down”
It’s official: as of midnight Saturday, the US government has shut down following a failure in the Senate to strike a funding deal. Government funding was due to run out after Dec. 8 but was twice extended, most recently through Jan. 19, at which point the US encountered what’s officially called a “spending gap,” which Read More…
China Downgrades US Credit Rating From A- To BBB+, Warns US Insolvency Would “Detonate Next Crisis”
In its latest reminder that China is a (for now) happy holder of some $1.2 trillion in US Treasuries, Chinese credit rating agency Dagong downgraded US sovereign ratings from A- to BBB+ overnight, citing “deficiencies in US political ecology” and tax cuts that “directly reduce the federal government’s sources of debt repayment” weakening the base Read More…
Bitcoin Isn’t The Bubble – The Global Financial System Is
Pretty much every article you read about Bitcoin in the mainstream press ends up in the same place. You may not hear it until the seventh or eighth paragraph, but eventually you’ll be told that the whole thing is nothing more than a modern day “tulip bubble.” The more creative types will also throw around the South Read More…
In Major Blow To US, Pakistan Prepares To Abandon Dollar For Trade With China
Pakistan is the latest country to jump on the anti-U.S. dollar bandwagon, Reuters reports. Pakistan is considering a proposal to replace the U.S. dollar with the Chinese yuan for bilateral trade between Pakistan and China. Between 2015 and 2016, bilateral trade between the two countries totaled $13.8 billion. According to Reuters, Pakistan’s Interior Minister, Ahsan Iqbal, Read More…
While Dems Babbled About Russia, GOP Passed Trickle-Up Economics Tax Bill
Yesterday my social media feeds were ablaze with people celebrating the latest new “bombshell” Russiagate revelation, which, as always, turned out to be nothing once the facts rolled in. Less than nothing, in fact, since Trump supporters everywhere are jumping up and down on ABC’s correction of an important part of its breaking coverage of the Flynn plea that Read More…