At least one Texas Republican thinks Governor Greg Abbott's move to call in the Texas Guard to monitor US military drills in the state is outright preposterous. "Let me apologize in advance that your letter pandering to idiots who believe that US Navy Seals and other US military personnel are somehow a threat to be watched has left me livid." It only gets better from there... "
Having previously effused over gold and holocaust jews, bailouts, and handouts, Buffett & Munger took aim at Europe, well more implicitly Greece, during today's annual octagenerian-fest.
Munger on Euro strains: You shouldn't create a partnership with your drunken, shiftless brother in law.
And Buffett's (implicit Grexit) retort: the euro can and probably should survive but it will take some changes...
As he previously said, Germany must stop Greek dog peeing on its rug.
It seems that for the global warming lobby, all that is necessary to set everything right is to hand control of the global economy over to governmental central planners. In their minds, the machinery of government only needs to be set in motion, and everything will be done with righteous precision to preserve the climatological status quo by increasing the cost of energy and cutting economic activity. The costs of such a venture, whether in money or in human lives and human comfort, need never be considered, because, we are told, the only alternative is the total destruction of planet earth. This “Follow Us or Die!” routine is a propagandist’s dream of course, but in real life, where more rational heads - on occasion - prevail, the costs of any proposed government action must be considered against the costs of the alternatives.
It appears The US Ministry of Truth has been hard at work this week...
A quick look at the list below reveals why economists are praying, for consumers' sake, that oil and gas prices stay low and remain "unambiguously good" for all those who rushed to buy gas guzzling trucks and SUVs. Because if the plunge in oil and gas prices failed to spur a spending spree in the US in the first quarter, then a surge right back to historic price levels will hardly do miracles for American discretionary income once it again costs ~$100 to fill up one's gas tank.
We heard from several central banks in the last few days, and what they had to say was just one more reminder that we are in a Hill Street Blues financial world. So, hey, let’s be careful out there - and then some!
Peering into the froth of a cappuccino, we noticed various sized bubbles. There is a fine line between froth and bubbles. As we continued our gaze, both eventually disappeared. Stirring made the frothy bubbles disappear more quickly. Markets are beginning to stir (more later). Unsustainable states ultimately end.
Facing a pensioner rebellion and a looming payment due to the IMF, Greece’s back is now truly against the wall. As Handelsblatt reports, even if a deal were reached with creditors this weekend, it may now be logistically impossible for Greece to make a €780 million payment scheduled for May 12. Oh well, there's always war reparations...
For those who require still more proof that the rally in US equities has become inextricably linked with corporations leveraging their balance sheets to repurchase their own shares, JP Morgan is out with an in-depth look at buyback trends which strongly suggests that buyback activity is in fact responsible for driving US stocks to record highs.
The final Q1 GDP revision was just released and we saw that GDP has again missed expectations by such a large margin that 2015 is another write off for a 3% growth year. Almost comically we heard the same excuses we got last year. “Weather was wintery and next year is going to be the turnaround year”. So in order to explain to these supposed economic and market ‘experts’ who seem wholly incapable of understanding economic and market forces with any sense of accuracy, let’s run through a few fundamentals.
With London, Paris, and Basel’s compliance, Nazi Germany had just looted 23.1 metric tons of gold without a shot being fired.
6 Baltimore Cops Charged After MD Attorney Finds Them "Grossly Negligent...Freddie Gray's Death Was A Homicide" - Live FeedSubmitted by Tyler Durden on 05/01/2015 - 22:37
It appears the situation in Baltimore just got a lot more serious as MD State Attorney Marilyn Mosby states that charges have been filed against 6 Baltimore PD police officers, arrest warrants have been issued for the charged cops, and that Gray's death was a homicide.
Racism, it seems, is not only alive and well, but worse than it has ever been. Or is it? Could it be that most Americans, regardless of the color of their skin, are perfectly fine having people of other races as their friends, neighbors and colleagues, and that certain people in positions of power are using their influence to manipulate the masses?
Have you noticed that we are starting to be bombarded with images of troops in the streets? Have you noticed that the term “martial law” is coming up a lot in movies, news broadcasts and even in television commercials? In recent years, it seems like the solution to almost every major crisis involves bringing in troops. In fact, it has already gotten to the point where when something really bad happens a lot of Americans immediately cry out for troops to be brought in. And we are seeing the same patterns over and over again.