Archive - Jul 13, 2014

"Tear down this wall..."

The British government has just invested in water cannons because they are fearing the rising tide of civil unrest as austerity is forcing the reduction of state workers and their pensions. The British unions called for strikes nationwide. Teachers, firemen and civil servants joined the calls and and took the streets demonstrating for higher wages and pensions. Just where is this money supposed to come from they really have no idea. They merely argue to take it from someone else no matter what and give it to them. Simply put, it is the rising cost of government that is out of control and no level of tax increase can reverse this trend.

Amid consternation at the market's low levels of volatility - and concerns voiced regularly by Fed officials of 'complacency' - it appears the FOMC has never been more confident in its omnipotence. As WSJ reports, despite being consistently too optimistic about economic growth and too pessimistic about the falling unemployment rate, Federal reserve policy makers have never been less uncertain about their forecasts... With consensus 2014 GDP expectations collapsing to +1.7% (and the Fed still at 2.1 to 2.3%), it appears the Fed's peak complacency is perfectly anti-correlated to the actual uncertainty about the future.

"To the residents of Beit Lahiya, The IDF intends to attack terrorists and terror infrastructures in the area east of Al-Atatra and Al-Salatin St., and in the area west and north of Ma'bscar Jabalyia. Israel is currently attacking, and will continue to attack, every area from which rockets are being launched at its territory.

The civilians are requested to evacuate their residences immediately and move by 12:00 PM today, south of Jabalyia Al-Badr via Shar'a Al-Faluja.  The IDF's campaign is to be short and temporary. Those who fail to comply with the instructions will endanger their lives and the lives of their families.

Beware."

A first class, all expenses paid weekend trip to Vienna with full diplomatic and press cover, to explain to Germany why every day a new CIA spy is uncovered, and to again reach no resolution on Iran's nuclear program: millions of dollars. Relaxing at the end of a long, hard day for a job well done with a cold central European beer: priceless. Some things money can't buy. For everything else there's TaxpayerCard.