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Visa Unveils Plan To Burden Millennials With Billions In Debt

For anyone concerned that $800 billion in student loans over the last decade simply won't be enough debt burden for millennials to carry, worry no more, a solution has been found.


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Ron Paul: Drafting Women Means Equality In Slavery

Last week the House Armed Services Committee approved an amendment to the National Defense Authorization Act requiring women to register with Selective Service. This means that if Congress ever brings back the draft, women will be forcibly sent to war. Some proponents of a military draft justify it as “payback” for the freedom the government provides its citizens. Those who make this argument are embracing the collectivist premise that since our rights come from government, the government can take away those rights whether it suits their purposes. Thus supporters of the draft are turning their backs on the Declaration of Independence.


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Every Time This Has Happened, A Recession Followed

As of today, we now have three consecutive quarters of tightening lending standards. In fact, based on the latest survey, net lending standards tightened even more than during Q4 as shown in the chart below, and are now the tightest on net since the financial crisis. Needless to say, if a recession and a default cycle has always followed two quarters of tighter lending conditions, three quarters does not make it better.


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Debt: The Key Factor Connecting Energy & The Economy

There are many who believe that the use of energy is critical to the growth of the economy. However, the thing that is not as apparent is that growth in energy consumption is dependent on the growth of debt. Both energy and debt have characteristics that are close to “magic,” with respect to the growth of the economy. Economic growth can only take place when growing debt (or a very close substitute, such as company stock) is available to enable the use of energy products. The situation we are facing today is one in which growing debt has been holding up oil prices and other commodity prices for a long time. We are now reaching limits on this process, as evidenced by growing wealth disparity, low commodity prices, and the frantic actions of governments leaders around the world regarding slow economic growth and the need for more stimulus.


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Yentertainment Tonight - Kuroda Kollapse Kontinues As USDJPY Nears 105 Handle

Either The BoJ steps in soon and intervenes (even by just "checking levels") or Kuroda-san is truly terrified of The G-20. USDJPY has now crashed 7 handles since last Thursday's shock BoJ disappointment crashing to within 5 pips of a 105 handle tonight for the first time in 18 months...


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Trump Leads Clinton In Latest Poll As Cruz Suffers 'Death Cross'

As the make-or-break Indiana primary looms for the GOP establishment, Ted Cruz suffered a develishly-dismal day. First, as Gallup reports, Cruz's favorability has utterly collapsed in the last few days (blame Carly?) with 45% unfavorable to 39% favorable (a negative spread for the first time in his campaign). But it got worse, as not only does trump hold a commanding 15-point lead in Indiana, but the latest Rasmussen survey shows Trump (41%) ahead of Hillary (39%) for the first time as The Donald is now doing twice as well among Democrats as Clinton does among Republicans.


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America's Plunging Worker Productivity Explained (In 1 Depressing Chart)

The US became an unsustainable service sector based economy from the 1970s onward when service sector employment diverged from manufacturing without a corresponding boost in productivity. Even Alan Greenspan has warned that America is "in trouble basically because productivity is dead in the water..." There are numerous reasons for this plunge in worker-productivity, from perverted inventives not to work to unintended consequences of monetary policy enabling zombies, but perhaps the most critical driver is exposed in the following dismal chart...


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The First Casualty Is Truth

The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”


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Trump's Take On Close Encounters With Russian Fighter Jets: "At A Certain Point You Gotta Shoot"

"I don’t know, at a certain point, you can’t take it,” the businessman continued. “I mean, at a certain point, you have to do something that, you just can’t take that. That is not right. It’s against all, you know, when you talk about Geneva convention, there’s gotta be things that are against it. You can’t do that. That’s called taunting. But it should certainly start with diplomacy and it should start quickly with a phone call to Putin, wouldn’t you think?” "And if that doesn’t work out, I don’t know, you know, at a certain point, when that sucker comes by you, you need to shoot. I mean, you gotta shoot. And it’s a shame. It’s a shame. It’s a total lack of respect for our country and it’s a total lack of respect for Obama. Which as you know, they don’t respect.


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Bank of Japan: The Limits Of Monetary Tinkering

Interestingly, the BoJ’s attempts to achieve its price inflation target continue to end in failure with unwavering regularity. While the central bank’s astonishing ineptness in this respect is a blessing for Japan’s citizens (at least for the moment, their cost of living doesn’t increase further), it harbors the danger that even crazier monetary experiments will eventually be tried.


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"It Has Been A While Since We’ve Had A Profitable Quarter To Report" - Einhorn's First Quarter Letter

"It has been a while since we’ve had a profitable quarter to report. Though we would like to make it a habit, trying to manage for quarterly  results is really not our philosophy. We think one of our advantages is the ability to be more patient than others, especially as investment horizons appear to be getting shorter.... the Fed’s “data dependency” doesn’t appear to relate to employment, which continues to improve, or core inflation, which is now running above its 2% target. We believe the increasingly adventurous monetary policy is bullish for gold."


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Saudi Foreign Minister Repeats Warning To US Over Sept 11 Law

Today, the Saudi foreign minister Adel al-Jubeir, while speaking to reporters in Geneva after talks with U.S. Secretary of State John Kerry which mainly focused on Syria, admitted this threat saying passage of the law would "erode global investor confidence in America" by which he was, of course, referring only to Saudi Arabia. However, to avoid another slap in the face of US foreign policy on the record, he denied that Saudi Arabia had "threatened" to withdraw investment from its close ally and instead called it a mere "warning."


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"If..."

If the world’s economies were really out of intensive care, why would ultra-radical monetary policies like helicopter money be increasingly debated at the highest level of governments? Also, how come 70% of Americans believe the US economy is on the wrong course? And why do almost half of US citizens admit they couldn’t come up with $400 to meet an unexpected need? Yes, I know why ask why? And it is what is, and a bunch of other clichés. But this isn’t normal, it isn’t healthy, and - at least in the opinion of this author—it isn’t going to end well.


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Caught On Tape: Raw Footage Shows The Moment A Missile Hits Aleppo Hospital

Sadly, a typical consequence of war is that innocent "collateral damage" lives are lost. The civil war in Syria is no different, as over the past week four medical facilities were hit with missiles from fighter jets taking out their targets from the skies, pushing the civilian death toll even higher. One of the targets that got hit last week (during a truce nonetheless) was a pediatric hospital in Aleppo that was supported by both Doctors Without Borders and the International Red Cross. Recovered cctv footage captures the moments before, during, and after the hospital took a direct hit.


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