Archive - Nov 2015 - Story

What do the globalists do when they want to create, reignite and keep their war on terror fought indefinitely?

After adjusting for inflation, the majority of Americans are worse off today than they were decades ago. The map below shows that median household income actually peaked at least 15 years ago in 81% of U.S. counties.

"Daesh has a mother: the invasion of Iraq. But it also has a father: Saudi Arabia and its religious-industrial complex. Until that point is understood, battles may be won, but the war will be lost. Jihadists will be killed, only to be reborn again in future generations and raised on the same books. The attacks in Paris have exposed this contradiction again, but as happened after 9/11, it risks being erased from our analyses and our consciences."

What do you do when you're a government statistician and the economic data doesn't say what you want it to say? Why you "adjust" it of course.

In a libertarian world, people with these differing opinions and values can live side by side in reasonable harmony, each side following the famous Voltairian advice to disapprove of what someone says (or does), but defend to the death his right to say (or do) it. But this harmony breaks down when one group or the other seeks to put the heavy finger of government on their side of the scales.

Obamaworld is gone. We live again in an us-versus-them country in an us-versus-them world. And we shall likely never know another.

Importantly, while the "bias" of the market is to the upside, primarily due to the psychological momentum that "stocks are the only game in town," the mounting risks are clearly evident. From economic to earnings-related weakness, the "bullish underpinnings" are slowly being chipped away.

"Refugee Roulette..."

The sums in play are so staggering (an estimated $11 trillion in emerging market debts denominated in other currencies) that even the Fed won't be able to stop the meltdown.

As Puerto Rico stares down a $355 million bond payment due in less than two weeks, analysts warn that without federal intervention, the commonwealth could face growing social unrest and a prolonged depression.

You can manipulate earnings, but The S&P 500 is as expensive now on a cash-flow basis as it was at the peak of the dot-com bubble...

"Can the government maintain this strategy of flooding the oil market? In our view, it is unlikely that Saudi leaders would want to exacerbate its ongoing reserve drain by pushing prices below $40/bbl. After all, pressure will quickly build on the riyal’s 30 year peg to the USD if Brent crude oil prices keep falling."