"The Stock Market Is Too Important To Leave To The Vagaries Of An Actual Market"

The stock market is just too important to leave to the vagaries of an actual market now. Too much depends on good-looking numbers now. It must be guided and controlled, or else the stilts on which our global financial system balances become shakier and more visible. The market must be rendered increasingly meaningless simply because it's too meaningful to our current economic system.

White House Cuts 2015 GDP Outlook By 33%

Despite President Obama's hubris over the 'recovery', his crowing about the jobs record, and his insistence that while "there's more to be done," everything is awesome, The White House just took the meat-cleaver to its US economic growth forecasts...cutting 2015 growth from 3% to 2%. That was not all though as their forecasts see no recession until at least 2025, unemployment under 5.0% for at least the next decade, stable inflation for 10 years, and last but not least - a 3-month T-Bill rate of over 3% within the next few years.

The Shocking 2008 AIG Report On "Empire Europe" And The Death Of Greece

"What Europe Wants" - to use global issues as excuses to extend its power:

  • environmental issues: increase control over member countries; advance idea of global governance
  • terrorism: use excuse for greater control over police and judicial issues; increase extent of surveillance
  • global financial crisis: kill two birds (free market; Anglo-Saxon economies) with one stone (Europe-wide regulator; attempts at global financial governance)
  • EMU: create a crisis to force introduction of “European economic government”

Live Webcast: Greek Parliament Votes On Bailout

Update: And Tsipras is speaking now.

It is almost 1:00am Athens time, and as of this moment the speaker of the Parliament, Zoi Konstantopoulou is at the podium, blasting the terms of the Third Greek bailout. She may or may not be the last speaker, although there is some speculation that PM Tsipras, who has been absent from the entire session so far, may follow her. Whether he does or not, the parliamentarians will vote shortly in a paradoxical vote in which the Opposition will support a law brought on by a European proxy government whose majority will vote against its own proposal, a proposal it swore to fight as its primary electoral campaign.

Auto Loan Rejection Rate Falls To Lowest Level On Record

Amid record auto loan ABS issuance, record loan terms, and record high average payments, it's no secret that the market for auto loans in the US has become dangerously stretched. Now, the NY Fed is out with what is perhaps the most shocking statistic yet on just how "darn easy" it is to get a car loan

A Complete Farce: Ex-Obamacare Head To Lead Health Insurance Lobby

If there was any doubt just who Obamacare was created to serve from day one (spoiler alert: it was never America's population), we now have the answer and it is so simple, even a 5-year-old can get it. Moments ago Politico reported that former Medicare chief Marilyn Tavenner, and the infamous former administrator of the Centers for Medicare and Medicaid Services who was responsible for writing many of Obamacare’s rules and regulations for the insurance industry, only to be fired following the disastrous rollout of the HealthCare.gov enrollment website, has been hired as the new CEO of America’s Health Insurance Plans, the "powerful K Street lobbying group."

When Capitalism Turns To Cannibalism

Yes, authentic capitalism still exists, but it's been relegated to the sideshow. The Big Tent with the Big Bucks is all finance/cartel/state/crony capitalism, and financialization is devouring all the other players. With authentic growth scarce, there's no other way to reap huge profits but cannibalism.

Economic Confidence Hovers Near 8-Month Lows, Majority See Things Getting Worse

With Small Business Optimism cratering to 15 month lows and CFO's skepticism at 2 year lows, it is no surprise that 'average joe' is also feeling a little less confident (despite the exuberance in equity markets). Gallup's U.S. Economic Confidence Index registered at -11 this week, which marked an eight-month low for the index. While current conditions are weak, more worryingly, the economic outlook has tumbled to its lowest since October with 56% of Americans saying "the economy is getting worse."

One Of These Things Is Not Like The Other

US equities are exuberantly holding on to their 2-3% gains this week following the "Greek deal" - which is falling apart. Treasury yields have collapsed from kneejerk swings. Greek stocks have plunged since the agreement.. and the Euro has nosedived. Who is right?

Santa Cruz County Votes To Cease Doing Business With 5 TBTF Mega Banks

It appears that Ryan Coonerty, the Supervisor of the Third District of Santa Cruz County, wrote a letter back in June to the rest of the Board of Supervisors, in which he bravely pleaded the county cease business operations with five of the TBTF Wall Street Mega Banks. Why you ask? Well, because they are criminal felons. Considering Eric Holder refused to punish them, someone has to take a stand...“There seems to be no limit to the greed in some our nation’s largest banks. I believe it is critical that the County only work with the most trustworthy institutions as we invest and protect the public’s tax dollars. Santa Cruz County should not be involved with those who rigged the world’s biggest financial markets."

President Obama To Explain How Great The Iran Nuclear Deal - Live Press Conference

As everyone knows by now, a nuclear 'deal' between Iran and the P5+1 (US, France, China, Germany, UK, Russia) was announced earlier this week. Under this agreement, Iran promises to limit its nuclear program in return for various international sanctions to be lifted. Republicans are not happy with the deal (Boehner: "Obama's deal will only embolden Iran"); Israel's PM Netanyahu warned it was "a stunning historical mistake," but we are sure President Obama will put everyone straight as he heads into the next 60 days of Congressional wrangling...