IMF Humiliates Greece, Repeats It Will Keep Funding Ukraine Even If It Defaults

"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."

Rand Paul: "Americans See The Rot In The System...And Want It To End!"

"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."

Disgraced, Demoted Pathological Liar To Collect $10 Million At MSNBC

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."

 

Carl Icahn: Donald Trump Is Completely Correct That "We Are In A Bubble Like You've Never Seen Before"

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.

Inciting Bank Runs As A Negotiating Tactic

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.

"The Fed Has Wreaked Havoc" Ron Paul Warns Markets' "Day Of Reckoning" Looms

"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."

The Glorious Imbecility of War

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.

5 Things To Ponder: Shades Or Umbrella

Since the beginning of this year the markets have primarily treaded water. The primary support for the bulls has been continued acknowledgement by the Fed on an inability to remove accommodative policy by raising interest rates. (Which should make you question what happens the first time they do.) The bears have been feasting on weak economic data and deteriorating fundamentals.

God's Man On Earth Tells Goldman It Isn't Doing "God's Work"

Having explained His vision for a new world order, The Holy See unleashed some scathing remarks towards the bankers of the world in his 183-page encyclical. Appearing to address the bank that does God's work, God's man on earth stated, "Saving banks at any cost, making the public pay the price, foregoing a firm commitment to reviewing and reforming the entire system, only reaffirms the absolute power of a financial system, a power which has no future and will only give rise to new crises." Furthermore, His Holiness called out the financial sector for having outsized influence over the political process and endorsed limiting its reach.

Alexis Tsipras' Open Letter To The Germans: "Duty Rests On All Our Shoulders"

As so often, Mr. Tsipras makes a number of fair points. However, it seems to us that everybody is skirting the main issues. Greece cannot become a “socialist Utopia”, unless its citizens are happy with being condemned to a hand-to-mouth existence for a long, long time indeed. Whether or not Greece defaults, the one thing the government will be unable to fund is the very socialism that is its basic ideology.

For Caterpillar, The Second Great Depression Has Never Been Worse

The current interval, in which CAT retail sales have dropped for an unprecedented 30 months in a row (!) at an average monthly pace of -10% suggests that, when stripping away all the endless veneer and propaganda, there is nothing short of a Second Great Depression just below the surface.

Low Oil Prices Prompt Statoil To Cut Even More Jobs

Once more Statoil is reducing its richest asset – employees – in order to keep financial losses to a minimum because of low oil prices. It will eliminate up to 1,500 more full-time jobs and 500 temporary consultant positions by the end of 2016.

The IMF "Trained" Greek Journalists In Washington To Spin Stories In Favor Of Troika

In what can only be described as a shocking testimony, Greece’s former representative to the IMF, Panagiotis Roumeliotis, in front of the special parliamentary committee on the Greek debt, said that several Greek journalists were “trained” in Washington D.C. in order to support the positions of the IMF and the European Commission in Greek media.