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Growth of first quarter 2014 came in a negative 1% of revisions

Back in May, the initial first quarter GDP numbers were announced, with economic growth climbing a dismal .1%, and far below analyst expectations of 2.5 to 3%.  However, like most government models, the revised outcome would be much worse than the original numbers indicated. On May 29, the revised first quarter GDP was publicized, and the results were a negative growth in the economy for the first time sinc ...

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Michael Pento: Fed stopped QE because economy is cratering

On May 29, long time financial strategist Michael Pento spoke on the sudden drop in bond prices, and the ramifications of the falling Treasury notes.  During his 15 minutes interview with King World News, Pento laid out the only conclusion that could be drawn from both the Fed tapering, and the bond market falling... The realization that the economy is cratering. Eric King: Let's start with the bonds... the ...

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World Trade Center once again key indicator for economic recession

One of the more interesting side notes regarding the World Trade Center back in September of 2001 was that the Silverstein Group was hemorrhaging tenets and experiencing vast vacancies of office leasers.  This of course changed after the Twin Towers came down, as Larry Silverstein made a mint off the insurance that followed the terrorist attacks. But like all things, the World Trade Center was rebuilt as a ...

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FDIC closes bank in Ohio bringing total number of failed banks in 2014 to 8

Columbia Savings Bank., located in Cincinnati, OH, was closed down by the FDIC on Friday, May 23.  This bank failure is the second one in the month of May and brings the total amount of bank closures in 2014 to eight. 5/23/2014 *** OH *** Cincinnati *** Columbia Savings Bank *** $5.3 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $5.3 million. If you were banking at Colu ...

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U.S. sanction Fail: Russian’s made billions off of Obama’s gambit

Ahhh chess.  It's a game where masters succeed and the amateurs fail.  And for centuries, those who have mastered the ability to think and plan several moves ahead have always been able to transfer those skills into real life situations and are then able to manipulate those who are limited to just reactionary responses. This has been the case between Russia and the United States over the past year, and in p ...

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Russo-Sino relations become one as largest energy deal signed

During the cold war, there was one thing the United States could rely upon as it strove to be the sole defender against global Communism.  That ace in the hole was the fact that the two largest Communist powers could never fully achieve an alliance against the West, and would quite often dedicate energy and resources against one another more than against their true enemy which was the U.S.. However, when Ru ...

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Obama motors has recalled 1.5 times more cars in 2014 than it sold last year

In March of this year, the U.S. Department of Justice fined Toyota $1.2 billion for a series of recalls they did leading back to 2009.  Yet this scandal is nothing when compared to what has occurred to General Motors, the Obama administration nationalized car maker, in just the past five months as the former corporate giant has now recalled 1.5 times more vehicles than it sold as a whole in 2013. GM just an ...

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FDIC closes bank in Illinois bringing total bank closures for 2014 to 7

AztecAmerica Bank., located in Berwyn, IL, was closed down by the FDIC on Friday, May 16.  This bank failure is the first one in the month of May and brings the total amount of bank closures in 2014 to seven. 5/16/2014 *** IL *** Berwyn *** AztecAmerica Bank *** $18.0 million dollar estimated FDIC DIF cost. The total DIF for failed banks this week is $18.0 million. If you were banking at AztecAmerica Bank i ...

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Fed using Belgium to mask fact that QE never ended, and there is no taper

The Federal Reserve, like any bank, has two faces.  One is the public face, which goes before Congress and speaks publicly on monetary policies.  Then there is a face that hides in the shadows, and does the primary work of facilitating control over the entire Western banking system. So when Federal Reserve Chairman Janet Yellen propagated the Quantitative Easing (QE) tapers of the last 8 months, what was re ...

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Russia holds meeting to plan for implementation of exports being done in Rubles not dollars

Late last month, a little known meeting took place with Russia's Finance Ministry to discuss the implementation of new export rules that will cut out the U.S. dollar, and increase the use of the Ruble in international settlements.  In addition, two nations, Iran and China, were said to have backed Russia's plan which will soon lead to an increase in global dissension over the reserve currency, and with glob ...

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RAISE THE MINIMUM WAGE? McDonald‚Äôs Hires 7,000 … TOUCH SCREEN CASHIERS

McDonald’s to start using 7,000 touch-screen cashiers and the people striking for a higher wage haven’t even gotten the politicians to force a $10.10 per hour minimum wage yet. These machine interfaces are being installed in France but will soon be in the United States and many other countries. The high cost of labor is driving these changes. So people striking for higher minimum wages, you are actually str ...

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If small businesses were a stock they would be in a Death Cross

In the stock market, there are two technical trends that provide a sure direction as to where an equity is going.  First is the Golden Cross, where the 50 day moving average (DMA) crosses over the 200 DMA and validates moves upward.  Then there is the Death Cross, where the 50 DMA crosses below the 200 DMA, and validates moves downward. And as with many technical models, these statistics can be transferred ...

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