Jim Sinclair’s Commentary
The latest from John Williams’ www.ShadowStats.com.
– Slowing Growth with Rising Inflation
– Real Retail Sales and Real Earnings Contracted in June
– Annualized Quarterly Production Growth Slowed to 0.59% from 4.23%
– June Year-to-Year Inflation: 1.8% (CPI-U), 1.8% (CPI-W), 9.4% (ShadowStats)
"No. 543: June CPI, Industrial Production, Real Retail Sales and Earnings "
Jim Sinclair’s Commentary
Security is on alert for bail-ins.
74% of small businesses will fire workers, cut hours under Obamacare
By PAUL BEDARD | JULY 16, 2013 AT 3:25 PM
Despite the administration’s controversial decision to delay forcing companies to join Obamacare for a year, three-quarters of small businesses are still making plans to duck the costly law by firing workers, reducing hours of full-time staff, or shift many to part-time, according to a sobering survey released by the U.S. Chamber of Commerce.
"Small businesses expect the requirement to negatively impact their employees. Twenty-seven percent say they will cut hours to reduce full time employees, 24 percent will reduce hiring, and 23 percent plan to replace full time employees with part-time workers to avoid triggering the mandate," said the Chamber business survey provided to Secrets.
Under Obamacare, just 30 hours — not the nationally recognized 40 hours — is considered full-time. Companies with 50 full-time workers or more are required to provide health care, or pay a fine.
The administration recently decided to wait a year before businesses had to comply, but many are trying to get ready anyway. The president did not delay the mandate that Americans must have health insurance or pay a fine, however.
The Chamber’s second quarter small business survey found that just 30 percent are ready for the law and even understand what is required.
Dealing with Obamacare is the biggest worry of small businesses and comes as they continue to see a sluggish economy which has already put a brake on their hiring. Just 17 percent reported adding employees in the past two years. And only one-in-five small business owners believe that they will add employees in the next two years.
South Africa to repatriate Libyan funds, assets
News Date: 15th June 2013
South Africa will repatriate Libyan funds and assets under an agreement with Tripoli, it was announced on Friday.
The agreement was reached at a meeting on Tuesday last week between South African Finance Minister Pravin Gordhan and a Libyan government delegation led by the Minister in the Office of the Libyan Prime Minister, Usama al Abid, according to the South African Government Communication and Information System.
Gordhan has agreed with the Libyan government that the repatriation from South Africa of Libyan funds and assets will be handled in terms of UN protocols, the South African Treasury said in a statement.
The news confirms earlier speculation that the late Libyan leader Muammar Gaddafi may have hidden assets in South Africa.
To coordinate the repatriation of assets to Libya, the Libyan government established a single body in 2012, which cooperates with a UN committee formed in terms of the UN Security Council Resolution 1970 (2011) and the Panel of Experts which coordinates the orderly and transparent repatriation to Libya of assets frozen in various countries.
Ron Paul on tap to bring “clarity” – and perhaps a return to the gold standard – to Nashville event
July 16th, 2013 | by Michael Cass
Former U.S. Rep. Ron Paul, the three-time presidential hopeful and libertarian lion, is coming to Nashville next month to speak at an event sponsored by a management consulting firm.
Expectations will be high: The event is called “The Night of Clarity.”
United Services & Trust Corp., the Nashville-based company putting on the event, says Paul will headline a series of lectures on Aug. 23 as “some of the nation’s foremost authorities diagnose the nation’s economic crisis.” Admission to just the lectures is $75 (or $35 for students), while a two-day package, including a “VIP dinner” and an “intimate Q & A” with the Texas Republican who left office earlier this year, will set you back $650.
DHS warns employees not to read leaked NSA information
By Josh Hicks, Published: July 15 at 3:01 pm
The Department of Homeland Security has warned its employees that the government may penalize them for opening a Washington Post article containing a classified slide that shows how the National Security Agency eavesdrops on international communications.
An internal memo from DHS headquarters told workers on Friday that viewing the document from an “unclassified government workstation” could lead to administrative or legal action. “You may be violating your non-disclosure agreement in which you sign that you will protect classified national security information,” the communication said.
The memo said workers who view the article through an unclassified workstation should report the incident as a “classified data spillage.”
The NSA is a Defense Department agency, meaning it does not fall under the jurisdiction of Homeland Security. It was not immediately clear whether all federal agencies released similar warnings to their employees.
Jim Sinclair’s Commentary
Not a bad idea with Bain-In coming, but some organization is required with gold being the bed frame itself, cash reduced.
After a short investigation, doctors found that their mattress caused the problem!