• Phoenix Capital...
    05/30/2015 - 12:50
    In simple terms, if the system is ever under duress again, money market funds can lock in capital (meaning you can’t get your money out) for up to 10 days. This is just the start of a much...

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Creator Of Infamous "Hope" Poster Lashes Out At Obama, Calls Americans "Ignorant And Lazy"

The man who gave America "Hope", the poster, says he has none left.



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Something Smells Fishy

Now what? The Fed says they are going to raise rates. The QE spigot has been turned off. The hedge funds are selling their buy and rent hovel investments, cash buyers are dwindling, the flippers who appeared in 2005 are back, Boomers are looking to sell and downsize, young people are already in debt up to their eyeballs thanks to the government doling out student loans like candy, the number of full-time good paying jobs continue to dwindle, and the rigged 37% price increase has priced millions of people out of the market.



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What's Holding Back America?

Just a little more hope... and some change...



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Euro-sclerosis

There appears to be little or nothing in the monetarists' handbook to enable them to assess the risk of a loss of confidence in the purchasing power of a paper currency. Furthermore, since today's macroeconomists have chosen to deny Say's Law, otherwise known as the laws of the markets, they have little hope of grasping the more subtle aspects of the role of money in price formation. It would appear that this potentially important issue is being ignored at a time when the Eurozone faces growing systemic risks that could ultimately challenge the euro's validity as money.



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Seymour Hersh And The Dangers Of Corporate Muckraking

In its original meaning, “muckraking journalism” was all about exposing the awful power that corporations, trusts, and monopolies exercised over people and the broader public interest. So why doesn’t Seymour Hersh, considered the premiere “muckraker” of the past few decades, turn his fearless muckraking guns on private corporate power?



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For Greece, This Is What Hell Looks Like

So let's say that somehow Greece kicks every can left until the end of 2015. Surely Greece will be out of the woods then, right. Wrong. Because for Europe's most devastated country, it is only then that the debt nightmare officially begins.



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Russia Wards Off "Provocative And Aggresive" US Warship In Black Sea

While we are used to hearing of the 100s of "close encounters" between NATO and Russian planes,but, as reported by state news agency RIA - citing an anonymous source in Russia's armed forces, Russian military aircraft were scrambled to head off a U.S. warship that was acting "aggressively" in the Black Sea. This appears to be the first reported ship-to-plane 'encounter' and, just as US and China tensions are escalating in the South China Sea, it appears US and Russian military 'discussions' are shifting from words and proxy-fighting.



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"Ferguson Effect" Triggers Nationwide "Crime Wave"

The racially charged protests and demonstrations that have swept the country as a result of perceived police misconduct involving African American “suspects” has created what St. Louis police chief Sam Dotson calls “The Ferguson Effect”, whereby law enforcement are now more reluctant to use force to counter illegal activity for fear of prosecution or, more poignantly, for fear of finding themselves cast as the villain that catalyzes widespread civil unrest.



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What Do Falling Corporate Profits Mean With Stocks Near Their Highs?

There have been 21 quarters since 1960 in which corporate profits were down notably from recent highs at the same time as stocks were making new highs. Without going into great depth of analysis, one can tell by the inauspicious dates that these circumstances have not worked out well in the past... the average drawdown over the 2 years following these quarters was -18.6%.



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Russian Pivot: Greece Will "Probably" Join BRICS Bank, Official Says

Greece still has one card left to play in fractious negotiations with creditors: the so-called 'Russian pivot'. Over the course of difficult talks between Syriza and the troika Moscow has, at various times, sought to take advantage of the hostilities between Athens and Brussels by making a series of overtures including the possibility of Greece joining the BRICS bank. Now, at least one Greek official says the country will likely accept the invite.



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Are All Central Bankers Idiots?

You can’t build a solid economy on the jelly of unaffordable housing, unpayable debts, and unsustainable asset prices. But that’s what we’ve got. The only way to get down to something more reliable... more real... and healthier... is to wash away the financial glop and goo that has accumulated during the last 30 years.



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When, Not If

It's just a matter of time...



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Hans-Werner Sinn Warns Europe - Don't Underestimate Varoufakis

Game theorists know that a Plan A is never enough. One must also develop and put forward a credible Plan B – the implied threat that drives forward negotiations on Plan A. Greece’s finance minister, Yanis Varoufakis, knows this very well. Many people in Europe seem to believe that Varoufakis, an experienced game theorist but a political neophyte, does not know how to play the cards that Greece has been dealt. They should think again – before Greece walks away with the pot.



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The Bond Market Is Still Broken, JPMorgan Says

Successive rounds of government bond monetization have worked to destroy the Treasury, JGB, and EU core markets while the post-crisis regulatory regime has seen dealers back away from providing liquity in the secondary market for corporate credit just as the very same monetary policy that broke government bond markets has led to an explosion of new issuance from corporate borrowers, creating the potential for a self-feeding catastrophe in the event of selloff in corporate bonds.



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Former SEC Officials Demand SEC Chief: Stop Protecting Corporate Cronyism

The primary job of modern American regulators is to protect entrenched status quo interests. Protecting the public doesn’t even factor into the equation.



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