Wednesday, November 13, 2019

Keiser Report: Paper is Poverty, a Ghost of Money (E1453)

from RT:

In the second half, Max talks to Ross Ashcroft, the host of Renegade Inc., about the UK’s ‘Serious Fraud Office’ quietly ending their ‘inquiry’ into the overwhelming evidence of serious fraud that happened during the Libor rigging scandal in the 2007-2009 period.

California Has The Nation’s Worst Poverty Rate (Again)

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from Silver Doctors:

Leaving California’s the best chance to increase one’s real income and have a life that doesn’t involve working long hours to afford a fixer-upper?

by Ryan McMaken via Mises

The US Census Bureau released new poverty data this month, and California once again has the nation’s highest poverty rate, according to the “Supplemental Poverty Measure.”

According to the SPM, California’s poverty rate in 2018 was 18.1 percent, followed by Louisiana with 16.5 percent, and Florida, with 16.2 percent.

Men’s “Real” Earnings Below 1973 Level: Census Bureau

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by Wolf Richter, Wolf Street:

Top 20% households made out like bandits, bottom 40% got crushed.

The median earnings of men working full time year-round in 2018 ticked up to $55,291. Adjusted for inflation, this was below the amount they earned in 1973, according to the annual data trove released by the Census Bureautoday. In other words, there has been a “real” income decline for men over the past four-plus decades!

Government Treats You Like a Milk Cow… Doug Casey Shows How to Avoid It

by Doug Casey, International Man:

International Man: Today, we’re going to take a close look at a pressing issue that’s growing in importance every single day: political risk.

No matter where you live in the world, political risk is growing and may soon have serious implications for you and your investments.

In the United States, this has become a significant concern…

Unsustainable government debt, a corrupt and failing political system, and swings in attitude toward more government involvement in daily life have severe ramifications you should know about.

CENTRAL BANKER: THE U.S. COULD SEE A SHARP DOWNTURN IN THE COMING MONTHS

by Mac Slavo, SHTF Plan:

James Bullard, president of the Federal Reserve Bank of St. Louis, said risks facing the economy include uncertainty over global trade policy and the slowing of the global economy. The head of the St. Louis Federal Reserve warned Tuesday that the U.S. economy could see a sharper slowdown than expected in the coming months.

“Slower global growth may feed back into slower growth in the U.S.,” he said. “U.S. monetary policy cannot reasonably react to the day-to-day give and take of trade negotiations,” Bullard said Tuesday during a presentation at a conference in London, adding that he doesn’t expect trade policy uncertainty will subside in the years ahead.

The State of the American Debt Slaves, Q3 2019

by Wolf Richter, Wolf Street:

Paying the University-Corporate-Financial Complex and the big bifurcation.

Student-loan balances jumped by 5.1% in the third quarter compared to Q3 last year, or by $80 billion, to a new horrifying record of $1.64 trillion, having skyrocketed by 120% in the 10 years since Q3 2009, according to Federal Reserve data released Thursday afternoon. Over the same 10-year period, when student loans soared 120%, the Consumer Price Index has increased 19%. Student loan balances are 7.6% the size of GDP, up from 5.1% in 2009