Another Government Ponzi Scheme Starts To Crack - Do You Depend On It?

It’s no secret that the Social Security system is effectively one giant Ponzi scheme. Actually, I think it’s worse. That’s because the government uses force and the threat of force to coerce people into it. People don’t have the option to opt out. They either pay the tax for Social Security or someone with a gun will show up sooner or later. I imagine Bernie Madoff’s firm would have lasted a lot longer had he been able to operate this way.

America - In Search Of A Cause?

America is a nation divided, not only upon the means we should use to attain our ends in the world, but upon the ends themselves.

The Three Things Goldman's Clients Were Most Worried About This Week

"Three topics dominated our client discussions this week: (1) Hedge fund performance in the wake of the collapse in Valeant Pharmaceuticals (VRX) during the past five days; (2) cash return to shareholders, especially buyback activity; and (3) 3Q results."

Has The Market Trend Shifted From Bull To Bear?

Equity markets have not priced a meaningful slowdown in global corporate earnings. They are still pricing in central banker commentary... for now. History teaches us that equity turbulence accompanied by meaningful economic softness often marks the turn from a secular bull market in to a bear market.

You Know It's Bad When...

...more Venzuelans than Americans believe their children's financial futures will be more secure than their own...

How To Stamp Out Cultural Marxism In A Single Generation

The insane lie that cultural Marxists seem to have conned themselves and others into believing is that their “activism” is somehow anti-establishment. In fact, social justice is constantly coddled and supported by the establishment. From politicians to judges to media pundits to the blogosphere, the overwhelming majority of people in positions of traditional power (even in supposedly conservative circles) have been more than happy to become the enforcers of the social justice warrior agenda, an agenda representing a minuscule portion of the public. There is no establishment for the PC army to fight; the establishment bias works vastly more in favor of their ideology than any other. Cultural Marxists ARE the establishment.

Japan's PM Demands "Bold Proposals" For Raising The Country's Birth-Rate

With a birth-rate at record-lows and death-rate at record-highs, Japanese PM Shinzo Abe unveiled a new set of 'arrows' a few weeks ago to 'fix' the demographic disaster the nation faces. At the time, Abe was long of "bold proposals" but short of actual policies to encourage the nation to make more babies (despite dwindling interest in sex). As Bloomberg reports, here are a number of options that Abe's new minister for demographics Kato could introduce to slow the downward spiral of population...

"The International Buyer Has Been Absent" Unsold Hamptons' Mansions Pile-Up As Bubble Bursts

Just a few months ago, Hamptons 2nd home-hunting was an elitist's dream. Home sales were surging (highest sicne 2007's peak) even as home prices soared (in the face of bad weather and economic angst). But that has all changed. As Bloomberg reports, sales of luxury homes in the are have tumbled 16% YoY in Q3, prices have plunged 18% YoY, and inventories are surging (up 34%). The reason is simple, as one realtor notes, "the international buyer has been absent."

Hillary Clinton Pretends to Be Progressive: She's Actually Conservative

Reality is only what a politician does  in office, not about mere rhetoric. Even when rhetoric is great, such as it was with Abraham Lincoln, it has relied upon honesty in order to be able to be so. Lying rhetoric tends simply to be forgotten by historians. It shouldn’t be, even if this requires us to remember some very bad rhetoric. Lies can be very important, no matter how bad the rhetoric might happen to be. History should deal with what’s important. So should voters.

Meet "Stunningly Catastrophic" Patricia, The World's Strongest Storm Ever Is About To Hit Mexico

"Stunning, historic, mind-boggling, and catastrophic" is how Weather Underground's Jeff Masters sums up Hurricane Patricia, which intensified to an incredible-strength Category 5 storm with 200 mph winds overnight as it approaches the Mexican coast. As The NY Times reports, The World Meteorological Organization warned that the hurricane’s strength was comparable to that of Typhoon Haiyan, which caused devastation in the Philippines in 2013, and so Mexico has declared a state of emergency for Puerto Vallarta (with officials warning that storm surges could cause waves of up to 39 feet) as she is forecast to hit the coast between 6 and 10pm ET. Hurricane Patricia is "uncharted territory."

Reflections On Venezuela's "Economic Miracle"

What this economic crisis does highlight is that short-term success should never be taken as proof of a long-term solution. And this is particularly true when it comes to quasi-socialist and extreme populist governments. In the long-run, countries that follow these policies have a consistent track record, which is basically the same as what we’re witnessing now in Venezuela.

Weekend Reading: Compelling Intellection

October is a particularly dangerous month to speculate in stocks. Followed by July, January, September, April, November, May, March, June, December, August, and February.” – Mark Twain