Monday, January 27, 2020

Darn, This Is Inconvenient: Apple Is Destroying the Planet to Maximize Profits

by Charles Hugh Smith, Of Two Minds:

Stripmining the planet to maximize profits isn’t progressive or renewable–it’s just exploitive and destructive.

How do we describe the finding that the planet’s most widely-owned super-corporation is destroying the planet to maximize its smartphone sales and profits? Shall we start with “inconvenient?” Yes, we’re talking about Apple, famous for coercing customers to upgrade their Apple phones and other gadgets if not annually then every couple years, as the most effective way to maximize profits.

Below-the-Surface Struggles in Manhattan Housing Bust Seep to the Surface

by Wolf Richter, Wolf Street:

“The market doesn’t care what you think.”

That the Manhattan market for condos and co-ops has been heading lower is no secret. The price and sales data I’m going to briefly lay out here is just to provide a backdrop for what comes next – the struggles below the surface that rarely make it to the surface. But this time they did.

Two Months in and Federal Budget Deficit Already 12% Ahead of Last Year

by Peter Schiff, Schiff Gold:

Fiscal 2019 ended Sept. 30 with the biggest budget deficit in seven years, with the shortfall coming in just a hair under $1 trillion.

And we’re already on track to top that. Just two months into fiscal 2020, the budget deficit is already 12% bigger than it was this time last year and is hurtling toward that $1 trillion mark.

The federal budget deficit for November came in at $208.8 billion, according to the latest Monthly Treasury Statement. That was 2% higher than the November 2018 deficit. The deficit through the first two months of FY2020 stands at $343.3 billion. That’s a 12% increase over the same period in fiscal 2019.

Keiser Report: The Beginning of the End of Super Imperialism in 2020? (E1483)

from RT:

Continuing with their New Year’s Eve celebrations, the Keiser Report is joined by Dr Michael Hudson, author of Super Imperialism: The Origin and Fundamentals of US World Dominance. Will 2020 see further decline in that super imperialism about which he first wrote all those decades ago? They discuss this and then turn to the upcoming elections in the US and whether or not he believes the stock market numbers will aid Trump. Finally, the discussion takes in Hudson’s views on uprisings globally and whether they herald the end of the age of neoliberalism.

DEBT CARPET-BOMBING: Deep State WON’T SURRENDER!

from Government Slaves:

This is a critical update from one of the best financial commentators I know, a good friend of ours, Mr. Lior Gantz, who runs WealthResearchGroup.com and we’re excited to share this one with you!

At the highest level of government and central banking reside individuals who have proven themselves to be very capable men and women. Decision-making at their stature affects the lives of hundreds of millions, and sometimes billions. Their ability to think clearly, trust the advice of their closest advisors, and maintain a balanced mind open to ideas has to be sharp as a tack.

Crude Oil Spikes Higher as Conflict Between the United States & Iran Boils Over – Nathan McDonald (03/01/2020)

by Nathan McDonald, Sprott Money:

Some are calling it bold, some are calling it reckless, and others are holding their breath in anticipation of what comes next after the United States initiated a drone air strike that resulted in the death of one of Iran’s top generals, Qassem Soleimani.

This move not only caught the Iranian government by surprise but the global markets as well, resulting in a massive spike in the price of oil overnight and into the Friday trading session.