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Thu, 04 Nov 2021
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Walmart experiences its biggest stock plunge in 27 years as the recession gets worse

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Now that a major global recession has begun, you would expect major retailers like Wal-Mart to run into trouble as consumer spending dries up, and that is precisely what is happening. On Wednesday, shares of Wal-Mart experienced their largest single day decline in 27 years after an extremely disappointing earnings projection was released. The stock was down about 10 percent, which represented the biggest plunge since January 1988. Over 21 billion dollars in shareholder wealth was wiped out on Wednesday, and this was just the continuation of a very bad year for Wal-Mart stockholders. Overall, shares had already declined by 22 percent so far in 2015 before we even got to Wednesday. Here is more on this stunning turn of events from Bloomberg...
Wal-Mart Stores Inc. suffered its worst stock decline in more than 27 years after predicting a drop in annual profit, underscoring the giant retailer's struggles to reignite growth.

Earnings will decrease 6 percent to 12 percent in fiscal 2017, which ends in January of that year, the Bentonville, Arkansas-based company said at its investor day on Wednesday. Analysts had estimated a gain of 4 percent on average, according to data compiled by Bloomberg.

Sheriff

VIDEO: Teen killed by cop for flashing his brights, family sues

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No charges against Officer Frost (left) who shot and killed Deven Guilford (right) during a traffic stop.
The family of Deven Guilford filed a lawsuit on Wednesday in the U.S. District Court for the Western District of Michigan against Eaton County Sheriff Deputy Jonathan Frost and Eaton County.

Around 8:00 pm on February 28, 2015, the 17-year-old Grand Ledge High School was shot seven times by Eaton County Deputy Sheriff Sgt. Jonathan Frost. While he was driving to his girlfriend's house after playing basketball at his church, Deven was stopped because he momentarily flashed his bright lights to alert the oncoming officer that his brights appeared to be on. Five minutes later he was dead.

During this traffic stop, it appears that Deven was puzzled and confused about why he was pulled over and why he was being confronted and ultimately arrested by the officer. The officer did nothing to calm or de-escalate the situation. Instead, Frost rapidly became argumentative and agitated when Deven asserted that the officer had been driving with his high beams on and resisted producing his ID. The entire encounter lasted just over 5 minutes and the backup Frost had called for, before he ever touched Deven or his vehicle, arrived barely a minute after the fatal shots were fired.

Dollar

American bureaucracy: Price of college education has more than doubled since 2000

student debt NYU
© Robert Mecea/AP
Forgiving skyrocketing student debt won't solve the real problem, which is the soaring costs imposed by a cartel that is failing to prepare students for the economy of tomorrow.

Everyone understands soaring student debt is a problem: burdened with $1.3 trillion in student loans, young people are unable to start businesses, buy homes and start families. The high cost of housing and meeting regulations to launch businesses add additional burdens, but the weight of $1.3 trillion in debt right out of the starting gate is crushing.

The "solution" being pursued by the federal government is obvious: take over most of the student debt and then eventually bury it in the zombie-loan graveyard (i.e. defaults are ignored but the debt isn't officially written off), write it down via forgiveness programs, or some other mechanism to reduce the burden.

If this wasn't the plan, then why has federal ownership of student loan debt skyrocketed from zero to $900 million in a few short years?


Comment: It could be yet another hand-out to the banks.


Comment: As George Carlin so eloquently stated,
"The real owners are the big wealthy business interests that control things and make all the important decisions. Forget the politicians, they're an irrelevancy. The politicians are put there to give you the idea that you have freedom of choice. You don't. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They've long since bought and paid for the Senate, the Congress, the statehouses, the city halls. They've got the judges in their back pockets. And they own all the big media companies, so that they control just about all of the news and information you hear.

They spend billions of dollars every year lobbying ­ lobbying to get what they want. Well, we know what they want; they want more for themselves and less for everybody else." "But I'll tell you what they don't want. They don't want a population of citizens capable of critical thinking. They don't want well-informed, well-educated people capable of critical thinking. They're not interested in that. That doesn't help them. That's against their interests."
Also see:


Eye 1

'Breach of human rights': Mass murderer Breivik to sue Norway for keeping him in solitary

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© Stoyan Nenov / Reuters
Norwegian mass killer Anders Behring Breivik
Convicted mass murderer Anders Breivik, who killed 77 people in a series of attacks in 2011, is suing the Norwegian state for keeping him isolated in his cell and restricting access to other prisoners, officers and visitors.

"There will be a court case about his prison conditions. We are arguing that his prison conditions are a breach of human rights. He has been held in isolation for four years," his lawyer, Oeystein Storrvik, told Reuters.

Comment: Anatomy of a Psychopath: Norwegian Mass Murderer Breivik stuns trial by comparing grief of victims' families to his 'pain' at being shunned
Norway gunman's father speaks out: 'He should have taken his own life'
Breivik Defends Massacre of 77 People: 'I Would Have Done it Again'
Norway Builds Psychiatric Ward for Breivik
Psychopathic Norwegian mass murderer Anders Breivik gets 21 years, regrets not killing more


Dollars

Illinois hands IOUs to lottery winners instead of cash

Lottery
© Illinois Lottery
Millions of dollars in backdated claims are now owed to winners.
Lottery winners in Illinois are being forced to accept an IOU, rather than cash, because the state has been unable to agree its budget.

Gamblers who win more than $600 (£388) will not be given their money until the state's financial situation has improved. In July the city said that payments of more than $25,000 would be temporarily suspended, but Thursday's announcement of the lower threshold has left winners furious.

"You know what's funny? If we owed the state money, they'd come take it and they don't care whether we have a roof over our head," said Susan Rick, 48, who won $250,000 in July. "Our budget wouldn't be a factor. You can't say to the state, 'Can you wait until I get my budget under control?'"

Two lottery winners last month filed a lawsuit against the lottery, demanding their money with interest.

"If I was the one selling raffle tickets and I didn't pay, I would be sued or in jail or both," said Rhonda Rasche, one of the winners who filed the suit, in an interview with The Chicago Tribune.

The Illinois Lottery has withheld more than $288 million in prizes since the state budget expired in June, according to the lawsuit.

The problem has arisen because the state of Illinois has, for five months, been unable to agree on its budget. Bruce Rauner, the Republican governor of Illinois, has failed to secure approval for his "Turnaround Agenda" from the Democrat-ruled General Assembly.

Arrow Down

Corporations ditching worker's compensation in favor of private short-term lower-benefit plans

workers comp
© Dylan Hollingsworth for ProPublica
After truck driver Joe Becker herniated discs in his back on the job, his employer, Dent Truck Lines, paid for surgery. But when he needed a second operation to remove screws causing him pain, Dent refused to pay, saying it was past the two-year time limit. Becker, who lives in Abilene, Texas, now lives on Social Security disability.
Standing before a giant map in his Dallas office, Bill Minick doesn't seem like anyone's idea of a bomb thrower. But backed by some of the biggest names in corporate America, this mild-mannered son of an evangelist is plotting a revolution in how companies take care of injured workers.

His idea: Let them opt out of state workers' compensation laws — and write their own rules.

Minick swept his hand past pushpins marking the headquarters of Walmart, McDonald's and dozens of his other well-known clients, and hailed his plan as not only cheaper for employers, but better for workers too.

"We're talking about reengineering one of the pillars of social justice that has not seen significant innovation in 100 years," Minick said.

Minick's quest sounds implausible, but he's already scored significant victories.

Many of the nation's biggest retail, trucking, health care and food companies have already opted out in Texas, where Minick pioneered the concept as a young lawyer. Oklahoma recently passed a law co-written by Minick allowing companies to opt out there. Tennessee and South Carolina are seriously considering similar measures. And with a coalition led by executives from Walmart, Nordstrom and Lowe's, Minick has launched a campaign to get laws passed in as many as a dozen states within the next decade.

But as Minick's opt-out movement marches across the country, there has been little scrutiny of what it means for workers.

Comment: Those at the helm of these corporations and those who are ultimately assisting them in their drive to implement serfdom are perfect examples of a society that has become completely ponerized.

How Societies Regress to Become Pathocracies
Human nature demands that vile matters be haloed by an over-compensatory mystique in order to silence one's conscience and to deceive consciousness and critical faculties, whether one's own or those of others. If such a ponerogenic union could be stripped of its ideology, nothing would remain except psychological and moral pathology, naked and unattractive. Such stripping would of course provoke "moral outrage", and not only among the members of the union.

[...]

Children of the privileged classes learn to repress from their field of consciousness the uncomfortable ideas suggesting that they and their parents are benefiting from injustice against others. Such young people learn to disqualify and disparage the moral and mental values of anyone whose work they are using to over-advantage.

[..]

Once the process of poneric transformation... has begun and advanced sufficiently, they perceive this fact with almost infallible sensitivity: a circle has been created wherein they can hide their failings and psychological differentness, find a world where they are in power and all those other, "normal people", are forced into servitude.



Treasure Chest

Intelligence gaps leave British banks at high risk for money laundering, corruption

bankers london
© Neil Hall / Reuters
Intelligence gaps have left UK banks at a very high risk of being used to launder the dirty money of crime, corruption and terrorism, a report claims.

The National Risk Assessment report produced by the Treasury and the Home Office reveals many of the structures that make carrying out financial activity in the UK appealing for law-abiding businesses also leave British banks vulnerable to corruption.

"The same factors that make the UK an attractive place for legitimate financial activity - its political stability, advanced professional services sector and widely understood language and legal system - also make it an attractive place through which to launder the proceeds of crime," the report said.

The report also highlighted serious "intelligence gaps" which made it very difficult to tell how much corrupt money was actually flowing through the UK, particularly in terms of what was termed "high-end" corruption.

Comment: Perhaps these so-called intelligence gaps enable the government to avoid blame while covertly facilitating such lucrative practices. Incompetence, corruption and greed is endemic in the global banking sector and it appears that little has changed since the interest rate rigging scandal was exposed in 2012.


Black Cat

America's top ten fears - Economic collapse and 'Big Brother' round out the list

fear paranoia
© Flickr/ Dennis Skley
A detailed survey conducted by a respectable American university to find out what it is that Americans fear most has made some surprising revelations, finding that government corruption, cyber-attacks, corporate snooping and terrorism are the things ordinary Americans fear most, even while political leaders may attempt to convince them otherwise.

The study, conducted by Chapman University, carried out a detailed survey of the attitudes of 1,500 adults from across the country in search of what it is that ordinary Americans fear most.

To anyone who has been listening to US state and military officials over the past couple of years, the results of the survey may be surprising, at least to many Russian observers.

While the Obama administration famously heaped Russia in along with Ebola and ISIL as the country's greatest international threats, with top Pentagon generals hysterically characterizing Russia as an "existential threat," it turns out that as far as ordinary Americans are concerned, Russia doesn't even appear to be on anyone's radar.

Comment: Americans have been repeatedly traumatized by their government's criminal activities for the past 14 years. But there is a difference between experiencing fear in a healthy way, and being manipulated by it:
Fear can only control us when we do not know in depth about the things we fear. When you fear a certain thing, that is the thing you should be learning about. You will then gain knowledge that is stored in your unconscious mind, so that when the moment comes, you make a better 'snap judgment' to protect yourself. It is very much like training your mind and body before facing the danger, without becoming paralyzed by sudden fright...

Fear and Knowledge



Fire

Yet again! Explosion causes massive fire at oil rig in Encinal, Texas

Texas map
© Google Maps
A massive explosion at an oil rig in Texas has occurred near town of Encinal, according to the company owner's statement. It said there have been no injuries.

The explosion took place at about 4am local time at the Lewis Energy facility near Encinal, a town located in south Texas about 120 miles (193km) southwest of San Antonio.

The owner of the oil rig, Lewis Energy Group, confirmed the incident in statement on Friday. It added that the cause is under investigation and no injuries have been reported.


Comment: There have been a lot of explosions lately in chemical/petrochemical plants as anyone paying attention would have noticed:
Though some may be due to faulty maintenance or sabotage, it is likely that there are other causes.

For a better understanding read the book by Pierre Lescaudron:

Earth Changes and the Human Cosmic Connection (The Secret History of the World Series Volume 3)


Che Guevara

People Power! Europeans protest secret US-EU trade deal - TTIP

TTIP protests Brussels
© RT
At least 100 people have been arrested in Brussels, where hundreds more protested against TTIP, an impending free trade deal between the US and the EU, as the next round of TTIP talks approaches.

Roads were paralyzed in the Belgian capital as a force of more than 600 activists descended on EU headquarters, blocking traffic and the venue of the EU leaders summit in protest against the Transatlantic Trade and Investment Partnership (TTIP).

People carried signs and chanted slogans such as "Stop TTIP, stop austerity" and "Sorry for the inconvenience. We're trying to save the world," at the march in Brussels on Thursday. "TTIP is death" another sign read. One group of protesters displayed a balloon 'Trojan Horse' as an allegory for the deal.

Comment: The reason the negotiation proceedings are kept out of public scrutiny is explained by EU's Commissioner for Trade, the Swedish Cecilia Malmström, who explained the situation in an interview with the German news media, Der Tagespeigel, and a translation of a quote appeared in an article on Breitbart London:
"The Americans have a different tradition: they involve a very large group of about 5,000 people, [who have] received the documents. They will not be published. It is not in my power to publish US documents."
About Cecila Malmström one finds on a Wikipage:
"Malmström assumed the duties of EU Commissioner for Trade on 1 November 2014, as a member of the Juncker Commission.

The mission letter for her position includes, as one of her key duties, the "successful conclusion" of the controversial trade negotiations with the USA, the Transatlantic Trade and Investment Partnership (TTIP), though with a number of restrictions and confinements to the negotiation mandate to address European public concerns over TTIP.[22]"
[...]
In an interview with John Hilary, the executive director of War on Want, in which she reportedly acknowledged "that a trade deal has never inspired such passionate and widespread opposition", she is reported to have commented: "I do not take my mandate from the European people."[28] [The numbers 22 and 28 are references with links to the originals sources, not the Wiki footnotes.]
Apparently a no to TTIP has never been an option, and the future prospects are advertised on an EU site.

Regarding the last stages of the TTIP negotiations, how much independence have the EU and European NATO countries shown with respect to the dictates of the US Government? Furthermore, one only has to read what has happened to the TPP (which the Obama administration cunningly wanted to complete before continuing the TTIP taks) to get an idea of what we can expect. Here are some headlines about TPP: For another recent article about the TTIP: What is TTIP? And six reasons why the answer should scare you

While many of our medias get people excited about the MH-17 false flag, war here and war there, a school shooting, etc., the TTIP gets negotiated behind closed doors by people who clearly do not have our best interests at heart.