More layoffs, China coal company lays off 100,000 employees. Personal income continues flat lining as savings dries up. 9.4 million Americans below poverty line. Another FED signals a collapse is headed our way. More and more indicators are signalling a economic collapse. Pending home sales decline, the real estate echo bubble is about to pop. Unemployment is no where near 5.1% it is more like 25%. UBS watchdog looking into gold manipulation. China continually purchasing gold. White House new spending site not transparent. Germany begins censoring Facebook. UK bringing more military trainers to Ukraine. US supplying Ukraine with border detection systems. Putin putting together a global coalition to fight the IS. Putin outed the US and explains to the world that the US pushes regime change in the middle east and elsewhere. US pushing war, with war propaganda from WWII.
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Current News – 09.28.2015
Economy
Whole Foods – 1,500
Carter Fuel Systems in Logansport – 100+
Longmay Group ( Chinese Coal Co. ) – 100,000
Cenovus Energy ( International ) – 540
‘Heartbreaking’: 1,700 jobs slashed as Teesside steel plant mothballed
- Trade unions have called on the government to intervene after SSI Steel announced it is to mothball an iron and steelmaking plant in northeast England, resulting in the loss of 1,700 jobs
Source: rt.com
Personal Income Rises At Slowest Pace In 5 Months As Savings Rate Drop
- Personal income rose at 0.3% MoM in August, the weakest growth and biggest miss since March’s tumble.
- Income growth slowing dramatically…
- Which means the savings rate has dropped to 10-month lows…
Source: zerohedge.com
What Recovery? 9.4 Million More Americans Below Poverty Line Than Pre-Crisis
- things are getting worse than pre-crisis levels for millions of the poorest Americans.
- It’s true that the wealthiest 10% of Americans have finally seen their household incomes rise above the levels last seen in 2007. It’s also true that median incomes have “recovered” from the worst of the 2008 disaster. Median earners were -8.1% worse off in 2011, and now they are only -6.5% worse off according to most recent data for 2014 released by the U.S. Census Bureau last week.
- However, when we look at the lowest 10% of income earners, the situation is much more precarious. In 2011, the bottom 10% of households were -9.0% worse off in terms of income than they were pre-crisis. Since then, it hasn’t gotten any better: they now are making -11.6% less income than they were in 2007.
- What’s the difference between 2007 and today? One stark contrast is the fact that the Fed’s balance sheet has exploded by adding $3.5 trillion of phony money
Source: zerohedge.com…
