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Venezuela in crisis: Oil nation put into 60 day state of economic emergency

Last week we focused on Canada, and the economic crises that has exploded across that country due to low oil prices, and massive debts created in the building of a housing bubble.  And with markets crashing all across the world over the first 17 days of 2016, the situation in another oil producing country is also dissolving into economic crisis. On Jan. 15, Venezuelan President Nicolas Maduro declared a 60 ...

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Walmart! Macy’s! When will they finally admit consumers are broke?

Only on CNBC, and in the research rooms of the big banks, could Ivy League analysts have the temerity to spin consumer spending and retail data to be a vision of unicorns and rainbows (and don't forget the skittles).  But for those looking at information at face value, it is impossible to deny that the economy is in recession. And one of the data points that practically assures this truth is what is happeni ...

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Should we get ready for a Canadian Spring?

Back in 2011, what would become known as the Arab Spring emerged in Middle Eastern countries like Tunisia, Egypt, and Yemen over the inability of the people to have access to affordable food that was primarily imported into their nations through world markets.  At the heart of the problem was the artificial strength of the U.S. dollar, and the need to buy these dollars to purchase foodstuff commodities. But ...

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Boom! Oil falls below $30 a barrel

It has taken only 12 days into the new year for a major prognostication to take shape in the global economy as the price of oil fell below $30 per barrel in intra-day trading. Leading up to the beginning of 2016, several analysts on both sides of the spectrum (mainstream and alternative) forecasted troubling times for the economy should oil move down into the $20's for an extended period of time. If oil pri ...

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Bitcoin’s success is the result of nation’s incompetent policies and the trashing their own currencies

Five years ago very few would have thought of Bitcoin as anything more than a novelty... a curiosity for the digital age, and a symbol for the anarcho-capitalist fringe.  But the foresight behind Bitcoin was more in the creator(s) understanding of banking than it has been in forging a rebellious construct to the long-standing system of private central banking. So for many of course, it is a very big surpris ...

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It’s hard to spin the worst market week ever to begin a new year

Perhaps it was an omen that 2015 ended without a Santa Claus rally, and the final two days of trading were both in the red for most markets, but not many could have predicted that 2016 would start out with not only a continuation of the prior week's trend, but end the week with a historic event for U.S. markets. The worst week ever to begin a new year. Not even in the Depression years of 1930 - 33 did the s ...

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Jobs number crushes expectations, but wages decline and part time employment reigns

On Jan. 8 the newest jobs report was published, with the overall numbers crushing analyst expectations as most had estimated that 200,000 would be created for the month of December.  Yet when you look further into the meat of the 292,000 new jobs recorded by the BLS, you find that not only were the majority of them part time (probably holiday seasonal) ones, but average wages for all jobs declined a tick fo ...

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China dumps $108 billion in reserves as the Far East economy uses dollars to protect currency

In overnight trading, China experienced an equities meltdown following their largest devaluation of the Yuan since August.  And at the heart of protecting the RMB in this trend of currency intervention is a new report on Jan. 7 which shows that the Far Eastern economy dumped $108 billion in dollar reserves in the month of December, dropping their reserve totals from $3.438 trillion to $3.330 trillion. Much ...

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China stock markets halt completely after Yuan devaluation

It appears that the new Chinese circuit breakers came at just the right time as the Shanghai equity markets triggered a halt on Jan. 7, leading the Far Eastern power to close down the markets altogether after just 30 minutes of trading.  This is the second circuit breaker halt in three days for China, which implemented the market protection at the start of the new year. What appears to have been the catalys ...

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J.P. Morgan confirms recession signal for U.S. while also downgrading 21 emerging markets

When Wall Street and other mainstream analysts provide forecasts for the markets, one must always take them with a grain of salt since these investment banks also have skin in the game for the outcomes they prognosticate.  But at certain points in a business cycle the data becomes impossible to hide, and what is reported by these analysts can be quite accurate as to the real state of an economy. Thus when J ...

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Fed publishes drastic fall in GDP forecasts, setting the stage for less than 2% growth for 2015

Recovery!  The mantra of the Federal Reserve and mainstream pundits parroting the party line.  But it appears that like poll numbers given prior to Presidential elections, when all the votes are counted, what was forecast for months leading up to the end of a cycle was much different than the actual outcome. For most of 2015 the Fed and big bank analysts predicted an annual GDP growth rate between 2.5 - 3%. ...

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FINANCIAL ARMAGEDDON APPROACHES: U.S. BANKS HAVE 247 TRILLION DOLLARS OF EXPOSURE TO DERIVATIVES

VIA Did you know that there are 5 ‚Äútoo big to fail‚ÄĚ banks in the United States that¬†each¬†have exposure to derivatives contracts that is in excess of 30¬†trillion dollars? Overall, the biggest U.S. banks collectively have¬†more than 247¬†trillion¬†dollars¬†of exposure to derivatives contracts.¬† That is an amount of money that is more than 13 times the size of the U.S. national debt, and it is a ticking time bomb ...

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