"I trust that many of you are familiar with the story of Peter Pan, in which it says, the moment you doubt whether you can fly, you cease forever to be able to do it. Yes, what we need is a positive attitude and conviction. Indeed, each time central banks have been confronted with a wide range of problems, they have overcome the problems by conceiving new solutions."
On the same day Syrian President Bashar al-Assad claimed his fighters would retake the entire country “without hesitation,”unnamed American defense officials revealed to the Daily Beast that the same Iraqi militias who were previously fighting ISIL alongside the U.S. are now actively collaborating with Russian and Iranian forces to “crush” American-backed rebels in Aleppo.
"The world has fundamentally shifted over the last decade, especially since we’ve emerged from the Great Recession... But the professional class has been very slow to understand what is going on, not just quantitatively but qualitatively in a new generational configuration that I call the Fourth Turning. They don’t accept the new normal. They keep insisting, just two or three years out there on the horizon, that the old normal will return – in GDP growth, in housing starts, in global trade. But it doesn’t return."
With so much riding on the American "consumer" - given the collapse of the US manufacturing industry and massive mal-investment over-stocking falsely signalled by The Fed's "help" - one wonders just what happens next as the Services economy begins to roll over and the gap between the consumer and industrial America - which has never, in over 30 years, been wider - converges back to a new normal dystopia.
One of the more bizarre memes that continues to be parroted by the establishment media is this idea that Hillary Clinton is so much stronger than Bernie Sanders when it comes to foreign policy. Sure, if your definition of “strength” consists of cheerleading for the cataclysmic Iraq War and propagating a series of war crimes and international fiascos as Secretary of State, then I suppose that’s true.
It was just two days ago when Russian PM Dmitry Medvedev warned that if Saudi Arabia, the UAE, and Qatar invade Syria in a transparent attempt to shore up their Sunni proxy armies currently under siege by Moscow’s warplanes and Hezbollah, a “new world war” would be inevitable. On Saturday, Medvedev was back at it in Munich where more than 60 foreign and defense ministers are gathered for the 52nd Munich Security Conference.
"The markets are not insulated from each other but are coupled in a “destructive” way, a mirror image of QE dynamics. Risks are becoming unpinpointable. Problems are global while politics remains inherently local allowing the existing trends to remain unchecked and self-reinforce. Any action causes further problems, which creates a quicksand effect -- everyone is both a victim and an accomplice."
It is a mistake to think that the lack of success of experiments in Socialism that have been made can help to overcome Socialism. The man who clings to Socialism will continue to ascribe all the world's evil to private property and to expect salvation from Socialism.
"Now, while your borrowing base might be upheld, there will be minimum liquidity requirements before capital can be accessed. It is hitting the OFS sector as well. As one banker put it, "we are looking to save ourselves now," with banks selling company debt for as low as $0.10 on the dollar on companies that only had a 50-75% borrow rates to start."
Among young voters, according to a well-watched video, "syphilis is more popular than Hillary." But Clinton is the crony favorite, supported by Wall Street and the Pentagon. In the old days, the conservatives believed the U.S. government was the devil at home and an angel abroad. The liberals believed the government was an angel at home and a devil overseas. Hillary believes that government always wears wings – at home and abroad.
Economists keep claiming economic recovery fulfilled, and yet it is found nowhere other than the BLS... and it is certainly not the view of funding and credit markets. In answering why economists and policymakers would throw out the vast and growing volume of especially market-based contradictions to their preferred labor view, we only have to note that this is an existential question for them.
The increasingly interconnected worlds of debt, energy, and economic growth are about to cause a very substantial disruption to the economy, as oil limits, as well as other energy limits, cause a rapid shift from the benevolent version of the economic supercycle to the portion of the economic supercycle reflecting contraction. Many people have talked about Peak Oil, the Limits to Growth, and the Debt Supercycle without realizing that the underlying problem is really the same - the fact the we are reaching the limits of a finite world.