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S. Korea: We Will Not be Paying for Missile Defense System (THAAD)

Seoul on Friday brushed aside US President Donald Trump’s suggestion it should pay for a $1 billion missile defense system the two allies are installing in South Korea to guard against threats from the North.

FILE PHOTO: Terminal High Altitude Area Defense (THAAD) interceptor © Ben Listerman / DoD / AFP

The first


IRS Hires Private Debt Collectors

You won’t just be receiving a call from the Internal Revenue Service (IRS) moving forward, but also from debt collectors. The tax collection agency has contracted out the task of pursuing unpaid taxes.

The IRS announced earlier this month that it has hired four debt collection agencies to get


Will Automation Make a Universal Basic Income a Necessity…… Eventually!

valkyrie robot

Several forces are coming together at once. Capitalism appears to be broken. A stunning number of people hate their jobs – and view them as a pointless waste of their lives for money – and yet, terrifyingly, this grindingly tedious necessity may be about to be stolen from us by machines. This has


Meet Another Job Stealing Robot, Sam the Brick Layer

Meet metal-muscled SAM, the bricklaying robotic assistant of the future.

SAM, short for Semi-Automated Mason, was developed by Construction Robotics, a small business funded by the National Science Foundation Small Business Innovation Research program.

SAM works alongside masons to install bricks, making the humans’ jobs less backbreaking. It is designed to increase productivity and


China Planning City 3 Times the Size of NYC

A hitherto anonymous region near China’s smog-choked capital has been overrun by house buyers after Beijing unveiled “historic” plans to build a new city there in a bid to slash pollution and congestion.

Announcement of the Xiongan New Area leads to a frenzy of property speculation with investors clogging roads to get to


Huge Overkill, Patriot Missile Destroys Quadcopter

A Patriot missile – usually priced at about $3m (£2.5m) – was used to shoot down a small quadcopter drone, according to a US general.

Patriot missiles are normally used to shoot down enemy aircraft or other missiles

The strike was made by a US ally, Gen David Perkins told a


What Happened to Trump’s Pledge to Use U.S. Steel on Pipeline Project?

putin and trump

After green lighting the continuation of the controversial Keystone XL oil pipeline in an executive order January 24th, President Trump declared as recently as last week that the pipeline had to use American made steel “or


Trump Administration will Straight up Ignore Trade Rulings at its Descretion

Imbalance of Trade

U.S. President Donald Trump’s administration is preparing to ignore any rulings by the World Trade Organization that it sees as an affront to U.S. sovereignty, the Financial Times reported on Tuesday, citing a report prepared by officials.

Imbalance of Trade

The draft document, due to be sent to the U.S. Congress on Wednesday, marks


Trump Proposed Intercepting Money Mexican Nationals Send Home

china mexico relations

Mexicans living abroad sent home almost $27 billion in 2016, the highest yearly figure on record.

This money sent home is called remittances, remittances rose 8.8 percent, from $24.78 billion in 2015 to 26.97 billion last year.

Mexico’s central bank said Wednesday almost all the money was sent to Mexico by electronic


Trump Freezes Obama Last Minute Payout to Palestine

gaza map

The Trump administration has informed the Palestinian Authority that it is freezing the transfer of $221 million which was quietly authorized by the Obama administration in its final hours on January 20, a senior Palestinian source has told The Times of Israel.

Gaza Strip in Relation to Israel

US officials conveyed to PA Prime


McDonalds Selling Controlling Interest in China Business


Fast-food giant McDonald’s is selling a controlling stake in its China business to a group of investors led by state-owned Chinese conglomerate Citic in a deal worth up to $2.1 billion, the companies said Monday.


Citic Ltd. and its investment management unit Citic Capital will acquire 52 percent of the business


Downslide Predicted for China in 2017

It’s the beginning of the year, and as such, top analysts all over the world are making predictions about what the world will bring.

But not all of them merit as much attention as Autonomous Research’s Charlene Chu, one of the most brilliant minds on China and its debt issues.

Chu has laid out


Minimum Wage Rising 50%……. in Venezuela

Venezuela’s government has announced a 50% increase in the minimum wage and pensions amid runaway inflation.

The country has faced shortages of many goods and people have had to queue at supermarkets

President Nicolas Maduro says the move will protect jobs and incomes. Critics say it may worsen the crisis.

The opposition accuses Mr


Trump Now Puts Toyota Under the Gun

Donald Trump issued a threat against Toyota Motor Corp for a supposed plan to build a new plant in Baja California, Mexico. The President-elect warned that if he would hit the auto manufacturer with a “big border tax” if they carried through with plans to build the plant.

Automakers are feeling


Huge 20% Gas Price Hike in Mexico Spurring Looting, Unrest (Video)

Mexicans angry over a double-digit hike in gasoline prices looted stores and blockaded roads on Wednesday, prompting over 250 arrests amid escalating unrest over the rising cost of living in Latin America’s second biggest economy.

Twenty-three stores were sacked and 27 blockades put up in Mexico City, Mayor


Obama Attempts Iron Clad Ban on Drilling Wide Swaths of Atlantic and Arctic

ocean oil platform

President Obama announced on Tuesday what he called a permanent ban on offshore oil and gas drilling along wide areas of the Arctic and the Atlantic Seaboard as he tried to nail down an environmental legacy that cannot quickly be reversed by Donald J. Trump.

ocean oil platform

Mr. Obama


Cuba Offers Rum to Pay Debt

cuban rum

The Czech finance ministry said Havana had raised this possibility during recent negotiations on the issue.

Cuban rum is popular in the Czech Republic

Cuba owes the Czech authorities $276m (£222m), and if the offer is accepted the Czechs would have enough Cuban rum for more than a century.

However, Prague said it preferred


Dakota Pipeline Fight Enters New Phase

Dakota Pipeline Route

In early December, a blizzard struck North Dakota, blanketing the Oceti Sakowin, Rosebud, and Sacred Stone water protector camps with heavy snow in below freezing temperatures.

Proposed Dakota Pipeline Route

As the Standing Rock Sioux and allies battled the crippling cold, the U.S. Army Corp of Engineers (USACE) handed the native community a victory


Looks Like Gas Prices are About to Rise

oil prices

Oil rose by as much as 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices.

Brent crude futures LCOc1 were up $2.21 at $56.54 per barrel by 1125 GMT,


Tax Evasion Amnesty Program Exposes Family of 4 Worth $29bn

A family of four Indians told the government it had evaded tax on $29 billion of income. That fortune would make them wealthier than the nation’s richest man.

The Mumbai-based family including the patriarch, his wife, son and sister together declared 2 trillion rupees — more than Mukesh Ambani’s $21 billion of wealth — during


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