In The News Today
Jim Sinclair’s Commentary
The latest from John Williams’ www.ShadowStats.com.
- Hyperinflation in 2014
- Trade Data Should Have Negligible Impact on Initial Third-Quarter GDP Estimate and on Expectations for Same
- Durable Goods Orders Remained Stagnant (Ex-Commercial Aircraft), Consistent with Renewed Economic Downturn
- BLS Will Count Furloughed Government Employees as Unemployed in Household Survey, but asEmployed in Payroll Survey
- Trade Data Should Have Negligible Impact on Initial Third-Quarter GDP Estimate and on Expectations for Same
- Durable Goods Orders Remained Stagnant (Ex-Commercial Aircraft), Consistent with Renewed Economic Downturn
- BLS Will Count Furloughed Government Employees as Unemployed in Household Survey, but asEmployed in Payroll Survey
"No. 567: Hyperinflation Update, Durable Goods, Trade Deficit"
Web-page: http://www.shadowstats.com
Web-page: http://www.shadowstats.com
International Monetary Fund Recommends Stealing Americans’ Wealth Now!
By now, most Americans realize what they have earned, built and own, no longer belongs to them. It will be taken unlawfully in the blink of any eye. Much like Washington, global parasites now want more of your income and wealth. The international elitists are coming for your stuff and many in our government—Democrat and Republican—are entertaining closed-door schemes designed to, once again, relieve Americans of their property.
On October 9, 2013, from its perch in Washington D.C., the International Monetary Fund (IMF) released a report outlining its recommendations for immediate global wealth confiscation—specifically American wealth—and new capital controls and exit regulations.
The report titled "Taxing Times," calls for the confiscation of household assets by a "capital levy" on citizens with a "positive net wealth" to reduce advanced economies debt to GDP ratios and stabilize global bond markets.
In other words, Global redistributionist’s, at the IMF, recommend increasing taxes and instituting new capital controls and exit regulations for seizing Americans investment equity, IRA’s and 401K’s to pay down outstanding debt to pre-crisis 2007 levels. According to the IMF, this move will restore global debt sustainability, which is to say, our government will be free to run up more debt again and debt-ceiling fights in Washington will not cause future bed-wetting at the International Monetary Fund.
To be brief, the IMF, founded in 1944, was established to rebuild post WWII International monetary systems, increase international/cross border trade and establish rules for a system of payments to and from countries utilizing different currencies. Today, the International Monetary Fund (IMF) works to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce global poverty; in other words, a new world order.
Jim Sinclair’s Commentary
The most endangered species on the planet is the pensioner.
Pensions Ask Retirees to Pay Back Tens of Thousands By Melanie Hicken | CNNMoney.com
Some pension plans have overpaid retirees for years — now they’re demanding their money back.
For retirees, it can mean owing tens of thousands of dollars. And with little warning, their pension checks are being slashed to cover their debt.
In April 2011, New Jersey resident Carol Montague received a letter from American Water Works Co.’s pension plan informing her that it had overpaid her for more than five years and it wanted its money back — plus interest. Montague, now 67, was told she owed roughly $45,000.
Two weeks after receiving the letter, Montague’s pension benefits dropped from $1,246 to around $325 a month, around half the amount she should have been paid all along. The plan takes out roughly $300 a month in order to pay itself back.
Once Montague’s healthcare premium is deducted, her monthly pension check shrinks to less than $25. She gets another $1,200 a month from Social Security, but it’s not enough. So, in addition to her part-time job as a school crossing guard, she is working as a salesperson at Macy’s.
Jim Sinclair’s Commentary
Anything that limits, controls. GOTS now?
Savings Transfer Limits
We want to make sure you understand an existing federal rule (Regulation D) limiting certain types of transfers from your savings account to a total of six (6) per monthly statement period*. To help you stay within the limit, please keep in mind the following:
The limit of six (6) transfers per monthly statement period from your savings account includes transfers through the following:
Online, Mobile, and Text Banking
Phone transfers – Using Wells Fargo’s automated banking service or speaking with a banker on the phone
Overdraft Protection – Transfers to a checking account for overdraft coverage also counts
Third-party payments – Includes checks, wires, and ACH transfers (recurring and one-time)
There are no limits on the number of transfers or withdrawals made in person at ATMs or Wells Fargo banking locations or on any type of deposit.
If the six (6) transfers per monthly statement period are exceeded, an excess activity fee (currently $15) will be assessed for transactions that exceed the limit. If the limit is exceeded on more than an occasional basis, the savings account must be converted to a checking account (which doesn’t have any transaction limits) or closed.
Beginning December 11, 2013 If the federal transfer limit of six (6) is reached or exceeded, additional transfers from savings accounts through online banking (including mobile and text) or the telephone may be declined for the remainder of the monthly statement period. We are taking this step to help our customers stay within the federal limit.
Easy ways to stay within the transfer limit:
Keep track of your transfers (especially recurring transfers)
Make transfers in person at an ATM or a Wells Fargo banking location
* Exceptions to the statement period may apply.
Wells Fargo Bank, N.A., Member FDIC.
Why McDonald’s Killed the Dollar Menu—in 1 Chart Derek Thompson Oct 22 2013, 2:58 PM ET
The sad news that McDonald’s is ending its Dollar Menu after eleven years reflects a simple truth: You can’t make any money selling burgers for $1, any more.
Accounting for about one-seventh of the chain’s total sales, the Dollar Menu, once a brilliant marketing gimmick, is now an anchor—both economically and metaphorically, speaking—enraging franchisees who can’t make any money selling 2013 processed cow meat at 2002 prices. McDonald’s has experimented with raising prices and tweaking its offerings to appease owners, but by November, the Dollar Menu will be gone, essentially.
The fact that the Dollar Menu has lasted this long might make you think fast-food prices have lagged behind other items, in real terms. But the price of beef and other staples has been turbulent. With some help from the inflation pros at BLS, I graphed this chart of "fast food" inflation (technically "limited service meals and snacks") versus all food for home consumption and core inflation minus housing, which is different from the more commonly used core inflation, but subtracts housing’s recent boom.
… and remember: these are prices for end-consumers, so you’re not seeing what truly angered McDonald’s franchises, which is that the price of Dollar Menu items like double cheeseburgers was rising slower than the cost of ingredients, like buns and cheese and onions and manufactured mammal-based consumables, or whatever the official term is for a fast-food patty.
In January, Wendy’s turned its 99-Cent Menu into the Right Price Right Size menu. Now McDonald’s has turned its Dollar Menu into a Dollar-and-Up Menu, which is an awfully multisyllabic synonym for "a menu." As fast casual restaurants like Chipotle and Panera continue to expand, McDonald’s should be relieved that they’ve taken away the promise to anchor all their food prices to $1
Jim Sinclair’s Commentary
Whatever became of take care of your own first?
Detroit Receives Less Federal Money Than All Of These Foreign Nations (INFOGRAPHIC) Posted: 08/22/2013 7:25 pm EDT
The nation of Colombia receives more federal aid than bankrupt Detroit… and it’s not the only country getting more cash from the feds.
Even though the Motor City murder rate is almost twice as high as Colombia’s, the federal government still sends almost three times as much money to the Latin American nation. Though several Detroiters have questioned whether a bailout is needed to save the city, the Obama Administration has made no moves to pay off any of the city’s estimated $18 billion debt.
Next City Columnist Bill Bradley posted an infographic titled "Detroit vs. the World," which helpfully points out every single country around the world that receives more federal dollars than Detroit.
Jim Sinclair’s Commentary
Soon we could have a zero unemployment number if 100% become gave-up looking for a job and became "non participants."
Non-participants in Labor Force Hit All-Time High Wednesday, 23 Oct 2013 08:59 PM
By Dan Weil
By Dan Weil
The number of non-participants in the U.S. labor force rose to a record of 90.609 million in September, according to the jobs data released by the government Tuesday.
That figure represents an increase from 90.473 million in August and 89.957 million in July, CNSNews.com reports.
The non-participant total stood at 80.507 million when President Barack Obama took office in January 2009.
Non-participants in the labor force are Americans 16 years or older who are unemployed and haven’t looked for a job in the last four weeks. The increase may indicate that those without a job are giving up on finding one.
Retiring baby boomers are pushing the non-participant number up, according to CNS.
In addition, there’s the falling female participation rate in the labor force, CNS says. The female labor force participation rate dropped to 57.1 percent in September from 59.4 percent in January 2009.
Jim Sinclair’s Commentary
There is no other choice, that is certain.
Many middle-class Americans plan to work until they die By Melanie Hicken @melhicken October 23, 2013: 2:00 PM ET
A growing percentage of middle-class Americans say they have saved so little for retirement that they expect to work into their 80s or even until they either get too sick or die, according to a recent survey.
Nearly half of middle-class workers said they are not confident that they will be able to save enough to retire comfortably, according to a Wells Fargo survey of 1,000 workers between the ages of 25 and 75, with household incomes between $25,000 and $100,000.
As a result, 34% said they plan to work until they’re at least 80 — that’s up from 25% in 2011 and 30% last year. An even larger percentage, 37%, said they’ll never retire and plan to either work until they get too sick or die, the survey found.
Driving these concerns is that many of the respondents said they simply can’t afford to pay their monthly bills and save for retirement at the same time.
"For the past three years, the struggle to pay bills is a growing concern and the prospect of saving for retirement looks dim, particularly for those in their prime saving years," Laurie Nordquist, head of Wells Fargo Institutional Retirement and Trust, said in a statement.
The concerns come as many middle-class families are trying to make do with less. The country’s median annual household income is down by more than 8% since 2007. And many of the jobs lost during the recent recession have been replaced with lower wage positions.
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