US economy is like Botox, looks fine only on the outside - world-famous investor Marc Faber
Reverberations from the economic meltdown of 2007-2008 can still be felt across the globe, even though politicians claim the economy is getting better. Unemployment, cuts in the manufacturing sector, extreme economic inequality - all these symptoms still plague nations, including the US. However, the worst is, possibly, yet to come, as some economists warn. What’s behind this dreary outlook? What’s causing the economic troubles in the world? We ask a world-famous investor, publisher of the "Gloom Boom Doom Report" - Marc Faber
15 Facts About The Imploding U.S. Economy That The Mainstream Media Doesn’t Want You To See
By Michael Snyder
Total business sales in the US did in April what they’ve been doing since July 2014: they dropped: -2.9% from a year ago, to $1.28 trillion (not adjusted for seasonal differences and price changes), the Censuses Bureau reported on Tuesday. That’s where sales had been in April 2013!
Bank of America is expected to reduce staffing in its consumer banking division by as many as 8,000 more jobs.
The nation’s largest retail bank by deposits has already reduced the staffing in its consumer division from more than 100,000 in 2009 to about 68,400 as of the end of the first quarter of 2016, said Thong Nguyen, Bank of America’s president of retail banking and co-head of consumer banking at the Morgan Stanley Financials Conference Tuesday.
Walmart is going to cut some back-office accounting jobs at about 500 stores in a bid to become more efficient.
The job cuts will occur mostly at stores mostly in the West and involve accounting and invoicing workers, says spokesman Kory Lundberg. Instead, bookkeeping functions will be switched to Walmart’s home office in Bentonville, Ark. Cash at the stores will be counted by machine.
Foreign investors sold a record amount of U.S. Treasury bonds and notes for the month of April, according to U.S. Treasury Department data on Wednesday, as investors priced in a few more rate increases by the Federal Reserve this year.
Foreigners sold $74.6 billion in U.S. Treasury debt in the month, after purchases of $23.6 billion in March. April’s outflow was the largest since the U.S. Treasury Department started recording Treasury debt transactions in January 1978.
Gerald Celente: Trends This Week – Obama, Trump, Clinton, terrorism, lies and fear mongering – 06.15.16
Global forecaster Gerald Celente provides a trend-tracking lesson by separating rhetoric, distortions and propaganda from fact in speeches made in response to the recent massacre in Orlando. His analysis shows how and why this type of violence self-perpetuates. Elsewhere in this program, Celente breaks down what the coming Brexit vote in the UK could – or could not – mean for the global economy. He forecasts continued global economic deterioration and high equity-market volatility