• Gold Standard I...
    07/28/2015 - 04:17
    Greece has no future, so long as it clings to the euro. The dollar won't servce you much better. A drachma will only harm the Greek people. That leaves one other option.

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The Big, Bad Bear Case

The purpose of this article is to outline, with facts, large global structural issues that everyone, bulls and bears alike, should be fully aware of.  This article will focus on much larger structural issues that have been building for years and decades. And no this article is not so much about central banks, debt issues, Greece, China, deficits, etc. While all these are important as part of the overall picture, they are mere current symptoms of a much larger issue that is at the core of all that is already in play and will only deepen in our societies in the decades to come.



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Obama In Kenya: "Some Are Suggesting I Am Here To Look For My Birth Certificate"

Obama came to Kenya, hung out with his extended family such as Malik Abon’go Obama, and moments ago departed for his next African tour destination, Ethiopia, but not before he cracked some birther "jokes" and spoke in Swahili and danced.



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Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors

With every passing day that Greece maintains its capital controls, the already dire funding situations is getting even worse, as Greek bank NPLs are rising with every day in which there is no normal flow of credit within the economy. This has led to a massive bank funding catch-22: the longer capital controls persist, the less confidence in local banks there is, the longer the bank run (capped by the ECB's weekly ELA allotment), the greater the ultimate bail out cost, and the greater the haircut of not only equity and debt stakeholders but also depositors.



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Energy Companies Face "Come-To-Jesus" Point As Bankruptcies Loom

"I don’t know if you’ll get the same slack in October as in April, absent a turnaround in the market price for oil. It’s going to be that ‘come-to-Jesus’ point in time where it’s about how much longer can they let it play. If the banks get too aggressive, they’re going to hurt the value for themselves and their ability to exit. So they’re playing a balancing act."



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French Police Open Fire On Car Trying To Crash Tour de France Barricades

In a surprising development ahead of today's final stage of the Tour de France, earlier today Paris police opened fire on a car that tried to crash a barricade set up on Place de la Concorde ahead of the final arrival of the Tour de France cycling race, France 24 reports citing a police official.  Luc Poignant, a spokesman with the SGP police union, said officers were finishing setting up the barricades for the race when the car tried to crash through the barriers. Officers opened fire on the car, which ultimately drove away.



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Furious Coal CEO Lets It All Out: "Obama Is Nation's Great Destroyer"

"His legacy will be that of the nation's greatest destroyer, and he certainly is the greatest enemy that I, personally, and my family and employees, have ever had."



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Pre-Crime Is Upon Us - "Schools Assess Students' Threat Level" From Kindergarten Up

Minority Report, eat your heart out. The real system is worse than anyone could have imagined.



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The Meaning Of 'Trust'

Presented with no comment...



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Should You Buy A House?

"By stepping back and looking at the big picture, we can see that real estate should be correcting and trending down.  The reasons why our grandparents bought their homes have changed.  Government intervention cannot last forever.  It will change from accommodation to devastation, when they finally run out of ideas. As for buying a house, I would consider it more of a luxury as opposed to an investment, and one has to be prepared for the possibility of it being a depreciating asset, especially if one decides to move."



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Corporate Credit Crashing: Waiting On The Rest Of The Herd

With almost everything turning lower this week under “dollar” pressure, it is imperative to keep in mind the apex asset class. In 2007, it was the ABX indices and various mortgage related structures that signified the how far along everything was; in this cycle it is clearly corporate credit. The disarray starts in the riskiest pieces and then moves inward and eventually, if left unchecked, eroding too much underneath with which to support what was once believed perfectly safe. Once there is no place to hide, the turn really begins.



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In Key Decision, Junk-Rated Chicago's Pension Reform Bid Ruled Unconstitutional

On Thursday, we previewed a critical court ruling involving Chicago mayor Rahm Emanuel’s effort to cut pension expenses and plug a yawning budget gap. As expected, Emanuel’s plan was determined to be unconstitutional by Rita M. Novak of the Cook County Circuit Court, further imperling the junk-rated city's financial future and perpetuating a pension ponzi scheme.



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Abenomics End Game: Thousands Protest In Downtown Tokyo, Demand Abe's Resignation As PM Disapproval Soars

Years of growing resentment for the Japanese premier, who panders only to the rich, to the exporting corporations, to the Japanese military-industrial complex, and of course, to the US government and Goldman Sachs (whose idea Abenomics was from the very beginning) thousands of protestors rallied Friday night in downtown Tokyo in a campaign of "Say no to the Abe government," targeting Japanese Prime Minister Shinzo Abe's "runaway" policy. The protestors gathered at the Hibiya Park, Diet building and the prime minister's official residence, shouting "Abe step down."



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Trump & The Political Risk Of A 3rd Party In 2016

If Trump took up a Third-Party, it might be the biggest shot we have at saving the country insofar as it would at least turn Capitol Hill into a new playing field. It really would not matter who the Third-Party candidate would be, Washington needs to be shaken and stirred vigorously to let these people know being a “representative” is supposed to be OF THE PEOPLE, not of yourself, the Party, and government.



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