China Accelerates Bad Debt Writeoffs; Reflections on "Policies to Counter Economic Volatility"

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China Accelerates Bad Debt Writeoffs; Reflections on "Policies to Counter Economic Volatility"

Crimea to become Russian special economic zone-Medvedev

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Crimea to become Russian special economic zone-Medvedev

Are You Preventing Economic Collapse for Your Family - Silver Doctors

Are You Preventing Economic Collapse for Your Family - Silver Doctors
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Russia Warns U.S., Capable Of Zero Economic Dependency On The U.S.- Episode 306

Russia Warns U.S., Capable Of Zero Economic Dependency On The U.S.- Episode 306
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01 The Economic Crisis (The Fall of America

01 The Economic Crisis (The Fall of America
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Black Tuesday Redux? Media Predicted Economic Collapse for March 4, 2014

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Black Tuesday Redux? Media Predicted Economic Collapse for March 4, 2014

20 Signs That The Global Economic Crisis Is Starting To Catch Fire

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20 Signs That The Global Economic Crisis Is Starting To Catch Fire

Economic Elite Announce Plan to Replace Human Labor with Machines

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Economic Elite Announce Plan to Replace Human Labor with Machines

Economic Crisis in India, 1991

Economic Crisis in India, 1991
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Economic Update: Public vs. Private Enterprise

Economic Update: Public vs. Private Enterprise
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Updates on economic democracy from Jackson, Mississippi to Marseilles, France; credit card scandals; phony labels for chicken; and overcharging inmates for calls. Major discussions of re-municipalization of water and electric utilities; post office banking; and new book on capitalism’s inequalities. Response to audience questions on TPP, corporate tax breaks and minimum wage.

To listen in live on Saturdays at noon, visit WBAI’s Live Stream

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Full On War And Economic Collapse With Steve Quayle & V The Guerrilla Economist

Full On War And Economic Collapse With Steve Quayle & V The Guerrilla Economist
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Max Keiser THE latest news on the GLOBAL ECONOMIC CRISIS

Max Keiser THE latest news on the GLOBAL ECONOMIC CRISIS
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20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

20 Early Warning Signs That We Are Approaching A Global Economic Meltdown
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Have you been paying attention to what has been happening in Argentina, Venezuela, Brazil, Ukraine, Turkey and China?  If you are like most Americans, you have not been.  Most Americans don’t seem to really care too much about what is happening in the rest of the world, but they should.  In major cities all over the globe right now, there is looting, violence, shortages of basic supplies, and runs on the banks.  We are not at a “global crisis” stage yet, but things are getting worse with each passing day.  For a while, I have felt that 2014 would turn out to be a major “turning point” for the global economy, and so far that is exactly what it is turning out to be.  The following are 20 early warning signs that we are rapidly approaching a global economic meltdown…

#1 The looting, violence and economic chaos that is happening in Argentina right now is a perfect example of what can happen when you print too much money…

For Dominga Kanaza, it wasn’t just the soaring inflation or the weeklong blackouts or even the looting that frayed her nerves.

It was all of them combined.

At one point last month, the 37-year-old shop owner refused to open the metal shutters protecting her corner grocery in downtown Buenos Aires more than a few inches — just enough to sell soda to passersby on a sweltering summer day.

#2 The value of the Argentine Peso is absolutely collapsing.

#3 Widespread shortages, looting and accelerating inflation are also causing huge problems in Venezuela…

Economic mismanagement in Venezuela has reached such a level that it risks inciting a violent popular reaction. Venezuela is experiencing declining export revenues, accelerating inflation and widespread shortages of basic consumer goods. At the same time, the Maduro administration has foreclosed peaceful options for Venezuelans to bring about a change in its current policies.

President Maduro, who came to power in a highly-contested election last April, has reacted to the economic crisis with interventionist and increasingly authoritarian measures. His recent orders to slash prices of goods sold in private businesses resulted in episodes of looting, which suggests a latent potential for violence. He has put the armed forces on the street to enforce his economic decrees, exposing them to popular discontent.

#4 In a stunning decision, the Venezuelan government has just announced that it has devalued the Bolivar by more than 40 percent.

#5 Brazilian stocks declined sharply on Thursday.  There is a tremendous amount of concern that the economic meltdown that is happening in Argentina is going to spill over into Brazil.

#6 Ukraine is rapidly coming apart at the seams…

A tense ceasefire was announced in Kiev on the fifth day of violence, with radical protesters and riot police holding their position. Opposition leaders are negotiating with the government, but doubts remain that they will be able to stop the rioters.

#7 It appears that a bank run has begun in China…

As China’s CNR reports, depositors in some of Yancheng City’s largest farmers’ co-operative mutual fund societies (“banks”) have been unable to withdraw “hundreds of millions” in deposits in the last few weeks. “Everyone wants to borrow and no one wants to save,” warned one ‘salesperson’, “and loan repayments are difficult to recover.” There is “no money” and the doors are locked.

#8 Art Cashin of UBS is warning that credit markets in China “may be broken“.  For much more on this, please see my recent article entitled “The $ 23 Trillion Credit Bubble In China Is Starting To Collapse – Global Financial Crisis Next?“

#9 News that China’s manufacturing sector is contracting shook up financial markets on Thursday…

Wall Street was rattled by a key reading on China’s manufacturing which dropped below the key 50 level in January, according to HSBC. A reading below 50 on the HSBC flash manufacturing PMI suggests economic contraction.

#10 Japanese stocks experienced their biggest drop in 7 months on Thursday.

#11 The value of the Turkish Lira is absolutely collapsing.

#12 The unemployment rate in France has risen for 9 quarters in a row and recently soared to a new 16 year high.

#13 In Italy, the unemployment rate has soared to a brand new all-time record high of 12.7 percent.

#14 The unemployment rate in Spain is sitting at an all-time record high of 26.7 percent.

#15 This year, the Baltic Dry Index experienced the largest two week post-holiday decline that we have ever seen.

#16 Chipmaker Intel recently announced that it plans to eliminate 5,000 jobs over the coming year.

#17 CNBC is reporting that U.S. retailers just experienced “the worst holiday season since 2008“.

#18 A recent CNBC article stated that U.S. consumers should expect a “

Get ready for the next era in retail—one that will be characterized by far fewer shops and smaller stores.

On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It’s the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy’s.

Further signs of cuts in the industry came Wednesday, when Target said that it will eliminate 475 jobs worldwide, including some at its Minnesota headquarters, and not fill 700 empty positions.

#19 The U.S. Congress is facing another deadline to raise the debt ceiling in February.

#20 The Dow fell by more than 170 points on Thursday.  It is becoming increasingly likely that “the peak of the market” is now in the rear view mirror.

And I have not even mentioned the extreme drought that has caused the U.S. cattle herd to drop to a 61 year low or the nuclear radiation from Fukushima that is washing up on the west coast.

In light of everything above, is there anyone out there that still wants to claim that “everything is going to be okay” for the global economy?

Sadly, most Americans are not even aware of most of these things.

All over the country today, the number one news headline is about Justin Bieber.  The mainstream media is absolutely obsessed with celebrity scandals, and so is a very large percentage of the U.S. population.

A great economic storm is rapidly approaching, and most people don’t even seem to notice the storm clouds that are gathering on the horizon.

In the end, perhaps we will get what we deserve as a nation.

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The Economic Collapse

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Priceless! Jon Stewart Ridicules the Richest of the Rich for Pretending to be Concerned About Economic Inequality

At the Davos World Economic Forum, billionaires discuss inequality over champagne and cigars.

Last night on the Daily Show, Jon Stewart skewered the hypocrisy of a bunch of white rich men getting together to worry about economic inequality — as they enjoyed the luxury of the salons of the Swiss Alps. “Inequality!” Stewart cried. “They’re talking about it in the cigar lounges and the champagne pavilions! In the cocaine-atoriums! They’re talking about it inside the same shared escorts.” As for the extent of this inequality, how"s this for a shocking statistic: The poorer half of the world — all 3.5 billion of them — have the same amount of money as the richest 85 people. Don"t miss his scathing satire:

 

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Priceless! Jon Stewart Ridicules the Richest of the Rich for Pretending to be Concerned About Economic Inequality

Current Economic Collapse News Brief -- Episode 267

Current Economic Collapse News Brief -- Episode 267
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US to begin easing economic sanctions on Iran

WASHINGTON (AP) — The United States will begin easing economic sanctions on Iran after it began shutting down its most sensitive nuclear work on Monday, the White House said.

Iran’s move was part of a landmark deal struck late last year with the U.S., five other world powers and the European Union to ease concerns over Tehran’s nuclear program and provide for the partial removal of some of the economic sanctions that have crippled the Iranian economy. Iran has insisted that its nuclear program was for peaceful purposes only.

The United Nations nuclear agency, the International Atomic Energy Agency, confirmed Monday that higher-level uranium enrichment at a facility in central Iran had stopped, an important step among others that together provided officials with the evidence needed to conclude that Iran was holding up its end of the agreement.

Ironically, Monday’s development came on the 33rd anniversary of Iran’s release of dozens of Americans held hostage, the same day that Ronald Reagan took the oath of office to be president of the United States.

The White House, which has vowed to prevent Iran from developing nuclear weapons, hailed Iran’s actions as “an important step forward.”

“These actions represent the first time in nearly a decade that Iran has verifiably enacted measures to halt progress on its nuclear program, and roll it back in key respects,” White House press secretary Jay Carney said in a statement. “Iran has also begun to provide the IAEA with increased transparency into the Iranian nuclear program, through more frequent and intrusive inspections and the expanded provision of information to the IAEA. Taken together, these concrete actions represent an important step forward.”

The European Union announced earlier Monday that it, too, was suspending some of the sanctions it has imposed on Iran.

Carney said the five world powers — the United Kingdom, France, Germany, Russia and China — also would begin providing relief to Iran.

At the same time, Carney said the group will continue its aggressive enforcement of sanctions that will remain in effect during the next six months, the period that Iran and the world powers will use to negotiate a final deal.

In a conference call with reporters, senior Obama administration officials noted the IAEA’s statement confirming that Iran was implementing initially agreed-upon requirements in what one official described as “a meaningful step forward.”

A second official said that Iran will not necessarily now largely “be open for business,” emphasizing that the U.S. would reach out to its counterparts to remind them of the continuing sanctions.

Regarding the desire of some in Congress to impose harsher sanctions, one of the officials said that Iran is starting to implement the steps and that “it would not be a wise time to take” take actions that “we don’t need.”

These officials insisted on anonymity to discuss a diplomatic matter they were not authorized to talk about by name.

___

Associated Press reporter Pete Yost in Washington contributed to this story.

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US to begin easing economic sanctions on Iran

Fear Is Why Workers in Red States Vote Against Their Economic Self-Interest

Last week’s massive spill of the toxic chemical MCHM into West Virginia’s Elk River illustrates another benefit to the business class of high unemployment, economic insecurity, and a safety-net shot through with holes. Not only are employees eager to accept whatever job they can get. They are also also unwilling to demand healthy and safe environments.

The spill was the region’s third major chemical accident in five years, coming after two investigations by the federal Chemical Safety Board in the Kanawha Valley, also known as “Chemical Valley,” and repeated recommendations from federal regulators and environmental advocates that the state embrace tougher rules to better safeguard chemicals.

No action was ever taken. State and local officials turned a deaf ear. The storage tank that leaked, owned by Freedom Industries, hadn’t been inspected for decades.

But nobody complained.

Not even now, with the toxins moving down river toward Cincinnati, can the residents of Charleston and the surrounding area be sure their drinking water is safe — partly because the government’s calculation for safe levels is based on a single study by the manufacturer of the toxic chemical, which was never published, and partly because the West Virginia American Water Company, which supplies the drinking water, is a for-profit corporation that may not want to highlight any lingering danger.

So why wasn’t more done to prevent this, and why isn’t there more of any outcry even now?

The answer isn’t hard to find. As Maya Nye, president of People Concerned About Chemical Safety, a citizen’s group formed after a 2008 explosion and fire killed workers at West Virginia’s Bayer CropScience plant in the state, explained to the New York Times: “We are so desperate for jobs in West Virginia we don’t want to do anything that pushes industry out.”

Exactly.

I often heard the same refrain when I headed the U.S. Department of Labor. When we sought to impose a large fine on the Bridgestone-Firestone Tire Company for flagrantly disregarding workplace safety rules and causing workers at one of its plants in Oklahoma to be maimed and killed, for example, the community was solidly behind us — that is, until Bridgestone-Firestone threatened to close the plant if we didn’t back down.

The threat was enough to ignite a storm of opposition to the proposed penalty from the very workers and families we were trying to protect. (We didn’t back down and Bridgestone-Firestone didn’t carry out its threat, but the political fallout was intense.)

For years political scientists have wondered why so many working class and poor citizens of so-called “red” states vote against their economic self-interest. The usual explanation is that, for these voters, economic issues are trumped by social and cultural issues like guns, abortion, and race.

I’m not so sure. The wages of production workers have been dropping for thirty years, adjusted for inflation, and their economic security has disappeared. Companies can and do shut down, sometimes literally overnight. A smaller share of working-age Americans hold jobs today than at any time in more than three decades.

People are so desperate for jobs they don’t want to rock the boat. They don’t want rules and regulations enforced that might cost them their livelihoods. For them, a job is precious — sometimes even more precious than a safe workplace or safe drinking water.

This is especially true in poorer regions of the country like West Virginia and through much of the South and rural America — so-called “red” states where the old working class has been voting Republican. Guns, abortion, and race are part of the explanation. But don’t overlook economic anxieties that translate into a willingness to vote for whatever it is that industry wants.

This may explain why Republican officials who have been casting their votes against unions, against expanding Medicaid, against raising the minimum wage, against extended unemployment insurance, and against jobs bills that would put people to work, continue to be elected and re-elected. They obviously have the support of corporate patrons who want to keep unemployment high and workers insecure because a pliant working class helps their bottom lines. But they also, paradoxically, get the votes of many workers who are clinging so desperately to their jobs that they’re afraid of change and too cowed to make a ruckus.

The best bulwark against corporate irresponsibility is a strong and growing middle class. But in order to summon the political will to achieve it, we have to overcome the timidity that flows from economic desperation. It’s a diabolical chicken-and-egg conundrum at a the core of American politics today.

Robert Reich’s new movie Inequality for All is now available on iTunes, On Demand and DVD.

Follow Robert Reich on Twitter: www.twitter.com/RBReich

Robert Reich

Fear Is Why Workers in Red States Vote Against Their Economic Self-Interest

Ariel Sharon"s legacy of economic cynicism, violence and oppression

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Ariel Sharon"s legacy of economic cynicism, violence and oppression

The Economic Recovery Has Now Been Exposed As Nothing But Propaganda -- Episode 203

At Alternate Viewpoint, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Alternate Viewpoint and how it is used.

Log Files

Like many other Web sites, Alternate Viewpoint makes use of log files. The information inside the log files includes internet protocol (IP) addresses, type of browser, Internet Service Provider (ISP), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user"s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.

Cookies and Web Beacons

Alternate Viewpoint does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.

DoubleClick DART Cookie

• Google, as a third party vendor, uses cookies to serve ads on Alternate Viewpoint.


• Google"s use of the DART cookie enables it to serve ads to users based on their visit to Alternate Viewpoint and other sites on the Internet.


• Users may opt out of the use of the DART cookie by visiting the Google ad and content network privacy policy at the following URL - http://www.google.com/privacy_ads.html.

These third-party ad servers or ad networks use technology to the advertisements and links that appear on Alternate Viewpoint send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.

Alternate Viewpoint has no access to or control over these cookies that are used by third-party advertisers.

You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. Alternate Viewpoint"s privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.

If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browser"s respective websites.

The Economic Recovery Has Now Been Exposed As Nothing But Propaganda -- Episode 203

COMING ECONOMIC COLLAPSE CIVIL WAR - PREPARE!!

COMING ECONOMIC COLLAPSE CIVIL WAR - PREPARE!!
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Read more about COMING ECONOMIC COLLAPSE CIVIL WAR - PREPARE!! and other interesting subjects concerning Economy at TheDailyNewsReport.com