The Economy

Argentina Seizes Oil Company

More American workers sue employers for overtime pay

Americans were pushed to their limit in the recession and its aftermath as they worked longer hours, often for the same or less pay, after businesses laid off almost 9 million employees.

Now, many are striking back in court. Since the height of the recession in 2008, more workers across the nation have been suing employers under federal and state wage-and-hour laws. The number of lawsuits filed last year was up 32% vs. 2008, an increase that some experts partly attribute to a post-downturn austerity that pervaded the American workplace and artificially inflated U.S. productivity.

The Consequences of Lard

The Labor Department reported last Friday that consumer prices increased 0.3 percent in March. More importantly, however, when adjusting for the increase in prices, worker earnings fell 0.4 percent during the month. What this means is that wage earners are losing ground at an annualized rate of 4.8 percent.

These days most workers are just grateful for having a job. They look around and see plenty of intelligent and able people who’ve received the dreaded pink slip. Still, when rising at the crack of dawn Monday morning to embark on another week of drudgery, some may find it discouraging to know their efforts are moving them backwards at an annual rate of nearly 5 percent.

25 Signs That Middle Class Families Have Been Targeted For Extinction

The middle class in America is being systematically wiped out, and most people don’t even realize what is happening. Every single year, millions more Americans fall out of the middle class and become dependent on the government. The United States once had the largest and most vibrant middle class in the history of the world, but now the middle class is rapidly shrinking and government dependence is at an all-time high. So why is this happening? Well, America is becoming a poorer nation at the same time that wealth is becoming extremely concentrated at the very top.

6 Disasters Caused by Poorly Designed User Interfaces

Members of the Herald crew had actually asked management to install a door-position indicator on the bridge, but management dismissed the request, calling it “frivolous.”

Although some crew members were clearly at fault here, the ensuing investigation found that the root of the problem was actually in the company’s management for not listening to the crew members’ concerns and not implementing a better security system. In the end, as punishment for the deaths of nearly 200 people, the company’s owners were forced to … change the company’s name and repaint their ships (they were all acquitted).

More money-junkie thinking.

Michigan government unleashes armed raids on small pig farmers, forces farmer to shoot all his own pigs

NaturalNews can now confirm that the Michigan Department of Natural Resources has, in total violation of the Fourth Amendment, conducted two armed raids on pig farmers in that state, one in Kalkaska County at Fife Lake and another in Cheboygan County. Staging raids involving six vehicles and ten armed men, DNA conducted unconstitutional, illegal and arguably criminal armed raids on these two farms with the intent of shooting all the farmers’ pigs under a bizarre new “Invasive Species Order” (ISO) that has suddenly declared traditional livestock to be an invasive species.

“You will not grow your own natural organic food. You will buy your daily dose of chemical-laden food trucked in from three time zones away from the big food corporations who donate to my campaign AND YOU WILL @#$ING LIKE IT!” — Official White Horse Souse

FLASHBACK – Revealed – the capitalist network that runs the world

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters’ worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

This is not capitalism; this is fascism!

Giant Banks Now 30% Bigger than When Dodd-Frank Financial “Reform” Law Was Passed

For years, many high-level economists and financial experts have said that – unless we break up the giant banks – our economy will never recover, real reform will be blocked, and democracy and the rule of law will be corrupted.

So how did the government respond to the financial crisis which started in 2007?

Let the giant banks get even bigger.

Five Reasons Why The Very Rich Have NOT Earned Their Money

The wealthiest Americans believe they’ve earned their money through hard work and innovation, and that they’re the most productive members of society. For the most part they’re wrong. As the facts below will show, they’re not nearly as productive as middle-class workers. Yet they’ve taken almost all the new income over the past 30 years.

GSA corruption more far reaching than suspected, says lawmaker, watchdog group

According to Judicial Watch, the overall questions are: Why didn’t Congress act sooner to set limits on the GSA’s manic spending sprees? Why did it take a public scandal with lots of mainstream media coverage for lawmakers—especially those responsible for the agency’s oversight—to finally threaten to take action?

The GSA is one of the federal government’s largest agencies, with an annual budget of nearly $45 billion. It’s one of the of the government’s central management agencies and handles everything from office space for the feds to communication and purchasing for government installations.

800+ major corporations and U.S. Chamber of Commerce support internet freedom-crushing CISPA

Madison Ruppert, Contributor
Activist Post

It’s quite sad for me to say that over 3 million businesses in the United States represented by the U.S. Chamber of Commerce, not to mention 800+ other major corporations (see below list), all have shown their support for the disturbing legislation known as CISPA, or the Cyber Intelligence Sharing and Protection Act…

Taxes Prompt More Americans to Renounce Citizenship

“‘Truth, justice, and the American way’ — it’s not enough anymore,” the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in Tehran.

Last year, almost 1,800 people followed Superman’s lead, renouncing their U.S. citizenship or handing in their Green Cards. That’s a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It’s also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.

Federal Reserve Officials Leave For Wall Street With Privileged Info

The Federal Reserve may be making an effort to open up some of its famously opaque decision making, but the newfound interest in transparency doesn’t extend to sharing records of meetings that happened years ago.

The Huffington Post and MSNBC’s “Dylan Ratigan Show” filed Freedom of Information Act requests in January to obtain the minutes of Federal Open Market Committee meetings from 2007 to 2010. That month, the Fed had released the 2006 minutes of the confidential committee, which essentially sets national monetary policy.

The Fed has no real interest in “transparency”, because true transparency will demonstrate, incontrovertibly, the degree to which the Fed has been robbing US taxpayers blind over the years since his private bank was reinstituted in the early 20th century.

The Fed needs to be abolished, period end of discussion; the US government, constitutionally, has the right to print its own money without borrowing from a private financial institution at interest.

Corporations That Spent The Most On Lobbying Saw Tax Rates Decline: Report

The top eight companies that spent the most on federal lobbying from 2007 to 2009 all saw their reported tax rates decrease from 2007 to 2010, according to a new analysis released Monday by the Sunlight Foundation.

The report notes that these top eight firms spent $540 million on lobbying from 2007 to 2009. They filed 332 lobbying reports that mentioned taxes and named 491 different tax bills in those reports.

The top eight companies that spent the most on lobbying were Exxon Mobil, Verizon Communications, General Electric, AT&T, Altria, Amgen, Northrop Grumman and Boeing. Exxon Mobil spent the most, some $81.92 million from 2007 to 2009.

Imagine my (absolute absence of) shock.

The post-Constitutional United States of America is now of the corporations; by the corporations, and for the corporations.

This is why legislation which comes out of our Congress is generally great for corporations, but lousy for We the People.

To tame Toronto’s housing ‘bubble’, ban foreign buying

Conventional wisdom is that this is the market at work. This is not the market at work. This is manipulation of a government system of open-ended mortgage insurance that is poorly supervised. What is going on here is a deluge of hot money from abroad that is creating an artificial and potentially dangerous real estate bubble. This mania happened in several other countries — where it was shut down — and has spread to Canada. Officials here have been urging restraint but that is not the solution. A ban on foreign buying of residences is the only solution.

Naked Short Selling: A “Wall Street Conspiracy”?

Do readers recall Dick Fuld, then CEO of Lehman Brothers, railing against hedge funds which were attacking the once venerable firm by aggressively shorting its stock? Fuld maintained that these aggressors were engaged in a practice known as ‘naked short selling’ and that they brought Lehman to its knees in the process.

The last four years have brought us plenty of intrigue and innuendo about a host of illegal and illicit practices on and off Wall Street but we have heard and seen little about this practice. Why?

Drive for IMF Funds Caught in Global Power Shift

Tensions among some of the world’s leading economies have boiled up over a plan to raise new resources for the International Monetary Fund to contain the euro zone debt crisis, and a quest by emerging economies to win more say in the global lender.

World financial leaders gathering in Washington next week will focus on proposals for countries to contribute more money to the IMF so it is better prepared in case of fallout from any further escalation of Europe’s debt problems.

Emerging market countries like China, Brazil and Russia are willing to provide more money for the IMF, but they want something in return: greater voting power.

It has become a hot issue given negotiations formally began this week on the next phase of IMF voting reforms to be completed in 2013.

“Sic Transit Gloria Pecuni” – LME Considering Ending Sterling, Allowing Renminbi Settlement

The LME is asking its members as part of a survey to help the exchange design its planned new clearing house whether they would like the renminbi to be added to the roster of currencies on offer for settling and clearing, and sterling dropped. The LME plans to maintain its benchmark denominated in US dollars. “We are always looking at new ways to help the market,” the exchange said.

The London Metals Exchange is an 11 trillion dollar a year market.

IMF still won’t admit truth about the euro

Like a bad penny, the eurozone debt crisis keeps returning, seemingly deliberately to coincide with these international summits. Spain’s rapidly deteriorating economic and financial position provides the flash point du jour.

With yields on Spanish government debt again above 6pc, and a couple of crucial bond auctions looming, matters are once more coming to a head. Crushed by repeated austerity programmes, the big southern European economies are sinking back into recession, raising new doubts about their ability to meet fiscal targets.

Barack Obama’s ‘Buffett Rule’ dies in the Senate

Democrats, as expected, failed to garner the 60 votes needed in the 100-member Senate to move to a full debate and vote on the bill aimed at getting more tax revenues out of the wealthy.

Obama and congressional Republicans are squaring off this week over the tax hikes for millionaires and a Republican plan to give new tax cuts for businesses.

“Tonight, Senate Republicans voted to block the Buffett Rule, choosing once again to protect tax breaks for the wealthiest few Americans at the expense of the middle class,” Obama said in a statement.

Though scant changes to tax policy are expected ahead of the Nov. 6 election, the skirmishes are giving voters a preview of debates they will hear over the next seven months.

Italy’s Gold Exports to Switzerland Soaring

Italy’s gold exports to Switzerland soared 35% year over year in February, after already increasing 65% in 2011 to 120 tonnes.
Somehow BBC attempts to spin this into positive news for Italy and a sign of recovery for the nation, claiming ‘Experts say improvements in the trade deficit could be a sign that Prime Minister Mario Monti’s economic reforms are starting to take effect.’

We take that back. An exponential pick up in Italy’s gold exports clearly is a sign that ex- Goldman Sachs Senior Adviser and leading Bilderberg Group member Mario Monti’s ‘economic reforms’ are starting to take effect.

And by effect, we mean the looting of the Italian people.

Gerald Celente: Fascism USSA – The Whole Financial Market is a CASINO

Here’s my new interview with Gerald Celente from

We discuss MF Global to get a first-hand update. We also discuss the fascist government, the corrupt financial markets, and so much more.

And once again Gerald warns us:

“If you don’t HAVE your money, it’s not YOURS!” Buckle up.

Free People of the World UNITE: The Use of Gold Dinars and Silver Dirhams GOES VIRAL!

Well friends, things are looking up for free people around the world who value REAL money. I just received an update from reader and physical precious metals stacker Dean Arif, the Program Director of Dinihari Dinar (The Dawn of the Dinar) in Malaysia.

Dean reports that the use of physical gold and physical silver in the form of gold dinars and silver dirhams, has spread from Malaysia to Indonesia and has now gone viral in Singapore, Brunei and Philippines!

Dean writes:

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