Archive - Jun 19, 2015

Amid criticism from Washington, Beijing has embarked on a propaganda campaign to show that despite attempts by the US and its regional allies to cast aspersions, island life in the Spratlys is all about girls, gardening, puppies, and pigs.

All of this babying creates incompetent, fearful adults. Our children have been enveloped in this softly padded culture of fear, and it’s creating a society of people who are fearful, out of shape, overly cautious, and painfully politically correct. They are incredibly incompetent when they go out on their own because they’ve never actually done anything on their own. Raise your hand if you survived a childhood in the 60s, 70s, and 80s that included one or more of the following, frowned-upon activities...

In the wake of the Chicago downgrade, state and local governments are moving away from Moody's as the ratings agency questions pension fund return assumptions. 

The economic hitmen have honed their skills among the poor and relatively defenseless, and have been coming closer to home in search of new hunting grounds and fatter spoils. There is nothing 'new' or 'modern' about this. The only difference is that it is not happening in the past or in a book, it is happening here and now. "Economic powers continue to justify the current global system where priority tends to be given to speculation and the pursuit of financial gain. As a result, whatever is fragile is defenseless before the interests of the deified market, which becomes the only rule."

"I ... welcome the government's continued efforts to reach a collaborative agreement with all creditors," IMF Managing Director Christine Lagarde said in a statement. "This is important since this means that the Fund will be able to continue to support Ukraine through its Lending-into-Arrears Policy even in the event that a negotiated agreement with creditors in line with the program cannot be reached in a timely manner."

“Clients want to feel secure that if something happens, they’ll have funds. They’re coming with more cash.”

"My tax plan would blow up the tax code and start over. Today, the American people see the rot in the system that is degrading our economy day after day and want it to end. That is exactly what the Fair and Flat Tax will do through a plan that’s the boldest restoration of fairness to American taxpayers in over a century."

Brian Williams - the disgraced lying ex-anchor of NBC Nightly News - has been demoted drastically to breaking news on MSNBC. He also took a significant pay cut. But do not feel too bad for the pathological narcissist. As TheWrap reports, the newsman will still earn a stunning $8-10 million. In today's consequence-less world, it appears it now pays to lie, but do not be disturbed as Williams has allegedly commented that he "identifies as an honest news anchor."

What everyone is really thinking...

I am knowledgeable concerning markets and believe Donald is completely correct to be concerned that we have “a big fat bubble coming up.  We have artificially induced low interest rates.” I personally believe we are sailing in dangerous unchartered waters.  I can only hope we get to shore safely.  Never in the history of the Federal Reserve have interest rates been artificially held down for so long at the extremely low rates existing today.  I applaud Donald for speaking out on this issue – more people should.

The troika of Greek creditors has gone into full-frontal morals-be-damned attack mode. This has turned into the kind of economic warfare one would expect to see between sworn and lethal enemies, that the US would gladly use against Russia for instance, but not between partners in a union founded on principles based entirely and exclusively on being mutually beneficial to everyone involved. And all EU nations should understand by now that this is not about Greece anymore, it’s about all of them.

"I am utterly amazed at how the Federal Reserve can play havoc with the market," Ron Paul exclaimed on CNBC's "Futures Now" referring to Thursday's surge in stocks, warnings that he sees it as "being very unstable." As Paul rages, "the fallacy of economic planning" has created such a "horrendous bubble" in the bond market that it's only a matter of time before the bottom falls out. And when it does, it will lead to "stock market chaos."

Today, on the eve of the bicentennial of the Battle of Waterloo, we do not celebrate war. Only a fool would celebrate something so horrible. But we pay our respects to the glorious imbecility of it. War may be dreadful, little more than a racket in many ways, but it is also a magnificent undertaking. It engages the heart and the brain at once and exposes both the genius of our race and its incredible stupidity. But we are talking about real war. Not phony wars against enemies who pose no real threat. Phony wars earn real profits for the war industry, but only an ersatz glory for the warriors. Real soldiers take no pride in them. Instead, to a real hero, they are a source of shame and embarrassment.