"Political Correctness" Is About Control, Not Etiquette

 

To begin, we need to understand that political correctness is not about being nice. It’s not simply a social issue, or a subset of the culture wars. It’s not about politeness, or inclusiveness, or good manners. It’s not about being respectful toward your fellow humans, and it’s not about being sensitive or caring or avoiding hurt feelings and unpleasant slurs. But what exactly is PC? Political correctness is the conscious, designed manipulation of language intended to change the way people speak, write, think, feel, and act, in furtherance of an agenda. PC is best understood as propaganda.

 

2015 - The Year Of FX Reserve Rundowns (Or Playing The "Fool's Game")

2015 was the year of considerable FX drawdown as desperate EM central banks attempted to rescue themselves from reality. As Barry Eichengreen noted, "Intervening to support an exchange rate that’s fundamentally overvalued is a fool’s game and a no-win situation, akin to a sovereign attempting to sustain an unsustainable debt burden rather than yielding to inevitable restructuring."

Offshore Yuan Tumbles As China Devalues Fix To Weakest Since June 2011

On the heels of the collapse in China 'B' shares last night, and continued stress in money-markets, China weakened the the Yuan fix to its lowest since June 2011 tonight. This has sent offshore Yuan spiralling lower breaking above 6.5700 for the first time since trhe August devaluation's collapse. Chinese stocks are on the weaker side, extending losses, and we now await the money-markets to see if this stress is escalating.

The Odds Are Never In Your Favor

Even though the odds are never in our favor, there is still hope. Not everyone has to make the extreme sacrifice in order to contribute to the revolution. There are thousands of small acts which will weaken the establishment: "Don’t be a slave to debt. Live beneath your means and accumulate some physical silver and gold. Don’t vote for candidates selected by the vested interests. Spread the message of liberty and freedom to anyone who will listen. Think critically. Do not trust your government. Prepare for the inevitable collapse of this rotten, fetid, corrupt paradigm."

Ship Carrying Over 11 Tons Of Low-Enriched Uranium Leaves Iran For Russia

Earlier today, a ship carrying over 25,000 pounds (11,000 kg) of low-enriched uranium materials allegedly departed from Iran for Russia, in what was dubbed a key step in Tehran's implementation of this year's historic nuclear accord with world powers. According to John Kerry this was "one of the most significant steps Iran has taken toward fulfilling its commitments." "I am pleased to report that we have seen important indications of significant progress towards Iran completing its key nuclear commitments under the deal," Kerry said in a statement.

What Are The Chances For Peace In 2016?

Each year more than one trillion dollars goes up in smoke. More accurately, it is stolen from the middle and working classes and shipped off to the one percent. We are talking about the massive yearly bill to maintain the US empire. What can we do to work for peace in 2016? First we must tune out the lying propaganda served up by the US mainstream media. We must educate ourselves so that we can help educate others.

The Fed's Rate Hike Trickles Down: JPM To Hike Deposit Rates... For Its Wealthiest Clients

Two weeks ago we said that "those who have savings at US banks, please don't hold your breath to see any increase on the meager interest said deposits earn." We were wrong: some should certainly have held their breath, because as the WSJ reports today, "some bank customers won’t have to wait much longer to reap benefits from the Federal Reserve’s decision to raise interest rates." Some, such as clients of J.P. Morgan, which will begin raising deposit rates for some of its "biggest clients" in January. "Biggest" clients, of course, is a universal euphemism for "wealthiest."

Voluntary Enslavement

Freedom is one of the most precious and hard-won of all conditions in life. A government applies the removal of freedoms in a ratchet effect; once a freedom has been taken away from a population, it’s rarely returned. Therefore, freedom tends to deteriorate over time in any nation, no matter how idealistically-founded it may have been. None of us can fully escape the more predatory tendencies of governments. We can, however, question their every move and adjust our lives so that the State’s impact on us is minimised.

Howard Marks Warns "Investor Behavior Has Entered A Zone Of Imprudence"

"Security prices are not low. I wouldn’t say high, but full. So people are thinking cautiously but they’re acting bullish and they’re behaving in a pro-risk fashion. While investor behavior hasn’t sunk to the depths seen just before the crisis, in many ways I feel it has entered the zone of imprudence... The market is not an accommodating machine. It will not go where you want it to go just because you need it to go there."

One Of The Two Most Crowded "Consensus Trades" Of 2015 Just Ended With A Whimper

One year ago, the two most crowded trades going into 2015 were being long the USD and short US Treasurys. While the former trade had questionable success, the latter most certainly did not work and while hedge-fund managers and other large speculators spent December 2014 setting the biggest bets against Treasuries in four years, fast-forwarding 12 months later we find that the smartest money in the room has fully abandoned those massive short Treasury bets.

Monday Humor? Christmas Day Condom Catastrophe

As Americans stuffed their faces with food and stuffed their sacks with gifts, three young German men had another 'stuffing' on their mind. As The Guardian reports, a man died on Christmas Day in Germany after he was hit in the head by a flying piece of metal from a condom machine that he and two accomplices blew up in an apparent robbery attempt.

7 Investment Lessons From Mom

"Don't run with sharp objects" ... "If everyone jumped off the cliff - Would you do it too?" ...and "Don't talk to strangers!"

The Death Of Decoupling

Despite the increasing perception of policy divergence between The US and the rest of the world, it appears 'factors beyond the control of the central planners' has stymied hope for any US-based sparking of global growth. Between The Fed's liquidity withdrawal and the deflationary tsunami from an emerging world buried in credit-fueled mal-investment, it is increasingly clear that central banks have lost control and everything is now going down together. As Citi's Willem Buiter recently noted, "everything's failed" so how long before we see the money drop?

The Crude Oil Export Ban - "What, Me Worry About Peak Oil?"

Congress ended the U.S. crude oil export ban last week. There is apparently no longer a strategic reason to conserve oil because shale production has made American great again. At least, that’s narrative that reality-averse politicians and their bases prefer. Congress’ decision to lift the 40-year U.S. ban on crude oil exports reflects the same misinformed and distorted thinking that declares that the world’s highest cost producer - tight oil - can somehow also be the world’s swing producer.

The Year Nothing Worked

"This year is a wake-up call to think about lower returns for the next several years," notes BMO's Lowell Yura, warning that "investor expectations for both equities and bonds have been [mistakenly] elevated by recent history." According to data compiled by Bianco Research, 2015 could be the worst for asset allocation funds since World War I. Simply put, nothing worked, as for the first time since 2001, none of the major asset-classes returned more than 10%.  As Jim Bianco concludes, “The Fed stimulus lifted all boats, and then the Fed withdrawing the stimulus is holding the boats down."

Saudis Boost Gas Prices by 40%, Dismantle Welfare State To Wage War With U.S. Shale

In a bid to shore up its finances in the face of self-inflicted oil wounds, Saudi Arabia is shaking up the welfare state by raising prices on everything from domestic fuel to water. Apparently, persisting in the war of attrition against the US shale complex is paramount - even if it means making life harder for everyday Saudis so the monarchy can buy itself some budget breathing room.