On Wire

Breaking news, updates, and reports on current events.

Europe is so weak it can’t even handle 0% interest rates

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by Simon Black Europe’s leading economic policy makers have officially thrown in the towel. Last week, the European Central Bank admitted economic conditions are so dire that it already has to reverse its monetary policy. I’ll get back to that in a minute… Following the Great Financial Crisis in 2008, central banks printed trillions of dollars and pushed … Read more

How Middle America Is to Be Dispossessed

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by Pat Buchanan The Democratic Party does not want to close the door to voting on migrants who broke our laws to get here and do not belong here, as these illegals would likely vote for pro-amnesty Democrats. In all but one of the last seven presidential elections, Republicans lost the popular vote. George W. Bush … Read more

The Global Economy Is a Time Bomb Waiting to Explode

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by Marshall Auerback In the aftermath of the greatest financial calamity since the Great Depression, then–chief of staff for the Obama administration Rahm Emanuel made the call for aggressive action to prevent a recurrence of the meltdown of 2008. Although the U.S. government’s system of checks and balances typically produces incremental reform, Emanuel suggested that during … Read more

Stossel: Academic Hoax (video)

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  Blowback Against a Hoax Author of a recent academic scam faces disciplinary action by Portland State, for failing to alert his research review board before hoodwinking journal editors with outrageous articles. Many say he’s guilty of bad form, but did he commit misconduct?     h/t Forever.the.Student  

Verizon confirms texting outage on east coast, estimated resolution time unknown.

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Verizon confirms texting outage on east coast, estimated resolution time unknown. Details: https://t.co/u9LCPnQbFy pic.twitter.com/MmXHVDNStE — NewsChannel 5 (@NC5) March 12, 2019 Do you have Verizon and you’re unable to text this morning? Verizon is experiencing a text outage, affecting nearly all of the east coast of the United States, but they say the services should … Read more

Did WWIII Just Ignite? If Not, Then Why Is This Happening? U.S. To Be Wiped Out?!

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For More Information See: https://www.zerohedge.com/news/2019-0… https://www.zerohedge.com/news/2019-0… http://theeconomiccollapseblog.com/ar… https://www.dailymail.co.uk/news/arti… https://www.nytimes.com/2019/03/07/wo… https://www.wired.com/story/huawei-ca… https://thenewsrep.com/115098/russia-… https://www.rt.com/op-ed/450970-china… https://www.ccn.com/pakistan-nuclear-… https://www.ozy.com/provocateurs/the-… https://www.nbcnews.com/news/world/re… https://www.newsweek.com/russia-prepa…    

Powerful winter storm to impact U.S with heavy snow and severe thunderstorms!

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by Noa Powerful winter storm to impact U.S. with heavy snow, severe thunderstorms, heavy to excessive rain and widespread strong winds If your living in the US heed this warning. Full article at: https://watchers.news/2019/03/12/winters…h-12-2019/ A powerful late-season winter storm will lift up into the Four Corners region on Tuesday, March 12 and then rapidly intensify across the … Read more

U.S. Stock Market Valuations Continue to Warn

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via RecessionAlert: We have updated the RecessionALERT Valuation Index (RAVI) forecast models for the SP500 using fourth quarter 2018 data. Stock market valuations continue to pose a “clear and present danger” to positive economic and SP500 returns outcomes and have worsened since our last warning. One and two year SP500 forecasts continue to offer relatively accurate short-run … Read more

OPINION: We cannot reduce 17.4 million leave votes to the issue of one word about the Irish border backstop

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by John Ward  The PM has returned with nothing, and the Remain machine is working at full throttle to tell Britain it is something. MPs using this as their climbdown ladder will rue the day they did so. ¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤¤ I’d like if I may to open today’s proceedings with one very simple observation that seems to … Read more

Rickards: “The Countdown Clock on a China Shock Keeps Ticking Louder”

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via dailyreckoning: We’ve written numerous times about the likelihood of a Chinese credit crisis, and the risks of contagion from such a crisis in China and the global economy. Despite long-standing concerns, this issue simply won’t go away. China has repeatedly turned to more debt, lower interest rates, currency devaluation and other cheap tricks of … Read more

USA’s Monstrous Debt Time Bomb Just Got Bigger…

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Today brings news of the latest federal budget proposal, a $4.75T presidential wishlist doomed to defeated in the House that spends money we don’t have. Perhaps most striking is that we are on pace to shatter the all-time debt-to-GDP record established in 1946 — when the country was in the midst of the life-or-death crisis of World War II … Read more

PR Offensive: Why Did Jerome Powell Suddenly Decide to Appear on ’60 Minutes’?

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by Michael Krieger One of the most famous, and prescient, financial cartoons in American history is the above depiction of the Federal Reserve Bank as a giant octopus that would come to parasitically suck the life out of all U.S. institutions as well as free markets. The image is taken from Alfred Owen Crozier’s U.S. Money Vs Corporation Currency, … Read more

In ZIRP World, the Perpetual Reach for Yield Increasingly Ends in Bankruptcy Court

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via Reuters: It seemed like an opportunity a lender would not want to miss. The loan paid 10.25 percent interest which would go up if a benchmark rose. The borrower was Trident USA Health Services, a growing company which provided bedside medical testing in nursing and assisted living centers. Trident was buying similar companies across … Read more

Wells Fargo Execs, Lying as Always, Say They Have Cleaned up Its Poisonous Culture

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via NYT: Wells Fargo has spent years publicly apologizing for deceiving customers with fake bank accounts, unwarranted fees and unwanted products. Its top executives say that because they have eliminated the aggressive sales targets that spurred bad behavior, the bank’s culture has changed. Many employees say that is news to them. There is no evidence … Read more

Pot Calls Kettle Black, Deutsche Bank Calls Europe Biggest Risk to Global Economy

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via YAHOO: Forget the ongoing trade war and China’s slowing growth — Deutsche Bank thinks “the biggest risk to the global economy comes from Europe.” “Data has stabilized in some areas, e.g. with France’s activity improving as the ‘yellow vest’ protests fade, [but] other areas show weakness,” David Folkerts-Landau, group chief economist at Deutsche Bank, wrote … Read more

American homeowners have learned a lesson, despite what banks and the Fed want them to do.

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter When you google “HELOC” the first batch of entries that come up are ads trying to get you to take out a HELOC. The most aggressive advertisers that outbid all others in my sample of one were: Lending Tree, the “home equity” division of J.P. Morgan Chase, and Quicken Loans. Then … Read more

Amazon is hiring 3,000 remote workers in 18 states

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Earlier this month, Amazon announced plans to hire 3,000 remote workers in 18 states. The job listing for customer service associates, posted on March 4th, indicates that the role pays $15 an hour, provides health care coverage after 90 days of employment and offers overtime pay. Amazon is considering candidates who live in 18 states: Alabama, … Read more

This Does Not Look Good…

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Overnight Quick reacap: Japan tool orders drop -29.3% Turkey is officially in recession China auto sales slide -15% Germany industrial production -3.3% Global Economy Hits Its Weakest Spell Since Financial Crisis S. Korea exports down -19.1% and and down -23.9% to China — Tracy Shuchart (𝒞𝒽𝒾 ) (@chigrl) March 11, 2019 this does not look … Read more