Archive - Jul 2013

Have you ever seen a disaster movie that is so bad that it is actually good? Unfortunately, we are witnessing something just as ridiculous in the real world right now.  In the United States, the mainstream media is breathlessly proclaiming that the U.S. economy is in great shape because job growth is "accelerating" (even though we actually lost 240,000 full-time jobs last month) and because the U.S. stock market set new all-time highs this week.  The mainstream media seems to be absolutely oblivious to all of the financial storm clouds that are gathering on the horizon.  The conditions for a "perfect storm" are rapidly developing, and by the time this is all over we may be wishing that flying sharks were all that we had to deal with.

Most Americans Still Don’t Know that Federal Reserve Banks Are PRIVATE Corporations

NSA Spying Is the Kind of Thing Which Caused the Revolutionary War Against King George

Presented with no comment...

CFTC whistleblowers, JP Morgan silver short, Andrew McGuire, Gold Leasing, Robert Rubin, Larry Summers, Gibson's paradox and that sink in your kitchen

"This nigger wants to fight me!" the belligerent man yelled, cops said....  Reddish knocked him out with a blow to the face.

With the situation in Egypt continuing to border on sheer chaos, many wonder what approach the US will take, so far having demonstrated its inability to decide how to swallow the humiliation of having a US-backed regime get swept away in a military coup while it continues supporting the country with both money and weapons. But while the State Department dithers, its head busy boating somewhere off the coast of Massachussetts, the US military is not wasting much time, and appears to be amassing a naval presence just off the coast of Egypt. No need to worry, though: Egypt's Ahram reports that "the US Embassy in Egypt denied Saturday that US naval vessels near Egypt's shores are sent in preparation for military action. A top Marine Corps general said Thursday that two US marine vessels approached Egypt's Red Sea shore, raising concerns in the Egyptian media about an imminent military move." "We deny false claims in the Egyptian press that US naval ships are in the vicinity of the Arabian Peninsula and the Suez Canal to militarily invade Egypt," read a statement issued on the US embassy's website.

The global fallout from the Snowden affair continues to reverberate following the latest news that four Latin American countries - Brazil, Argentina, Urugay and Venezuela - announced on Friday they would recall their ambassadors from the countries that blocked their airspace to Bolivia's Evo Morales following false rumors he was carrying Snowden, forcing an emergency landing in Austria. The four countries said this incident violated international law. As a result of Obama's "neo-colonial" practices in Europe, as Uruguay's foreign minister Luis Almagro denounces Europe's servile compliance with pax AmericaNSA, the Mercosur ambassadors in Spain, France, Italy and Portugal will be pulled back for consultations.

The internet is on the verge of transforming manufacturing and China's dominance in this industry will soon be under serious threat.

To our users who used Skype for cybersex with loved ones: thank you. You have spiced up otherwise boring workdays for many NSA analysts.

— Skype Global PR (@SkypeGlobalPR) July 12, 2013

I would be willing to contribute $1,000 to the campaign coffers of the first Politician who stands up and tries to defend what is going on.

In the aftermath of the latest humiliation for Boeing, which after getting Dreamliner clearance by absolutely every "authority" imaginable, from the NTSB to the FAA to CNBC's Phil LeBeau, that it was absolutely safe to fry, pardon, fly, just had a major meltdown, oops there we go again, on live TV in Heathrow airport, one wonders - what happens when the regulators rush to give the all clear once more, only for yet another Dreamliner to mysteriously burst in flames several months hence? Alas that would mean that the very same regulators that lifted the fry, pardon, fly ban on the plane will have to impose it all over again, thus disgracing their pre-clearance methods (likely accelerated courtesy of an occasional envelope full of cash under the door somewhere in the decision chain) even more. And how long until the damage to the brand is so great that Boeing will have no choice but to replace every 8 in its 787 nomenclature with a 9, thus pulling the brilliant GMAC->Ally Bank conversion. All these are questions that Boeing, the FAA and the NTSB will have to answer very soon, and for the benefit of BA shareholders, with a favorable resolution. Then again, in the matter of recalls, be it of cars or airplanes, the math is well-known. In the meantime, here is the latest.

They can be handcuffed, they can be given coffins, they can be parachuted, they can be bungee’d, they can be life-jackets, they can be a hello and they can have their hands shaken. What are we talking about? Well, all of these things seem to have one thing in common, they are golden!

Bernanke's comments washed out some late dollar longs and they may be reluctant to re-establish ahead of the Chairman's testimony before Congress at the end of next week.  The underlying bullish case for the dollar remains intact.  

Gasoline RBOB price moves are ridiculous.  RBOB closes Friday above 40 cents from the price on July 1^st without any major news like 5 refiners exploding, or a major hurricane...