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Shocking Pictures Of A Russian Potash Mine Disaster

A sinkhole 20 by 30 meters (65 by 98 feet) in size has been found near a Uralkali mine in Russia's Perm region. As Mining.com reports, while stunningly no casualties have been reported so far, the situation is expected to worsen as locals fear that the hole could get bigger and swallow their houses.



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Caught On Tape - How The Children Of Chinese Oligarchs Live It Up In SoCal

"Give me your corrupt, your crony, your oligarch masses yearning to launder money free,

The criminal masterminds of your destroyed environment and police state.

Send these, the pampered, the private jet setter to me, I open my hands to your golden yuan."



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Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash

"this sentence is a big surprise to me as I did nothing wrong..."



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3 Of The 10 Largest Economies In The World Have Already Fallen Into Recession – Is The U.S. Next?

Are you waiting for the next major wave of the global economic collapse to strike? Well, you might want to start paying attention again. Three of the ten largest economies on the planet have already fallen into recession, and there are very serious warning signs coming from several other global economic powerhouses.



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Yen Surges After Japan FinMin Says Speed Of Yen Collapse Has Been Too Fast

First the Japanese central bank proceeds to monetize all new debt issuance and is on route to holding 50% of all 10 Year bond equivalents within 2 years, sending the Yen year plummeting to 7 years lows daily, and then - just like Europe - Japan gets cold feet and realizes that the next steps are USDJPY 145+, meaning a complete collapse of the Japanese economy and a full on FX, if not shooting, war in Asia. So what does Japan's finance minister Aso do? Why he talks the Yen higher, in the process completely confounding the FX algos, and risking a full blown collapse in the Nikkei just 3 weeks ahead of the Japanese snap elections.



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Charles Schwab Urges The Fed To Raise Interest Rates "As Quickly As Possible"

For America’s 44 million senior citizens, plus tens of millions of others who are on the threshold of retirement, last month marked a watershed moment that is worth celebrating. At the end of October, the Federal Reserve announced the first step in returning to a more normal monetary policy. After nearly six years of near-zero interest rates and quantitative easing, the Fed is ending its bond-buying program and has signaled a plan to eventually begin raising the federal-funds rate, raising interest rates to more normal levels by 2017. U.S. households lost billions in interest income during the Fed’s near-zero interest rate experiment.



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5 Million Illegal Immigrants To Realize Dreams Of Slightly Less Uncertainty

“When I came to this country 11 years ago, it was in the hope that one day, if I worked hard enough, I could be granted a temporary, tenuous reprieve from the threat of being forcefully removed,”



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Obama Tells Mexican Viewers How He Will Fix Immigration By Executive Diktat - Live Feed

Having been shunned by all the major broadcast networks (unlike his predecessor 8 years ago), President Obama's 'prime time' address to the nation - which will be seen by dominant Spanish-language channel Univision viewers (and CNN and PBS) - will lay out the new steps he (and he alone in his executive order) is taking "to fix our broken immigration system." As Politico comments, Obama appears to be going all-in as he speaks from Las Vegas, as the cooperation talk has disappeared - “Make no mistake. When the newly elected representatives of the people take their seats, they will act,” warned incoming Senate Majority Leader Mitch McConnell.



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No One Told You When To Run, You Missed The Starting Gun

They may be able to engineer a stock market rally to further enrich themselves, but they can not propel the real economy of 318 million people. Our consumer society is dying – asphyxiated by debt – shorter of breath and one day closer to death. I’d love to offer some sage advice on how to fix this problem, but it’s too late. Too many people missed the starting gun.



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Hugh Hendry Live 2: "QE 'Worked' By Redistributing Wealth Not Creating It"

In the second of three interviews (part 1 here), Hugh Hendry tells MoneyWeek's Merryn Somerset Webb why central banks will go even further than anyone expects to keep the global economy afloat. Hendry notes, "there’s so much debt that if you reprice debt, the economy slows down. We saw that I think in 2012, after the taper tantrum and ten-year bond use went over 3%. What happened next? The economy slowed down. If anything I would be a buyer of U.S. Treasuries."



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3 Things Worth Thinking About

Following the October swoon, stocks have vaulted to all-time highs. As we discussed previously in "Sentiment Is Off The Charts Bullish," there have only been few occasions where investors have felt so "giddy" about the financial markets. Such periods of exuberance have never ended well for investors as they were deluded by near-term "greed" which blinded them to the building risks. One of the things that we pay attention to is the ratio of the S&P 500 compared to longer duration bonds.



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Crossing The Keynesian Streams: Broken Windows And Gushing Liquidity All In One

Clearly, what US GDP needs is more not less epic snowstorms such as what this house in upstate New York just experienced, because where else do you get the twin Keynesian GDP-boosting fallacies of broken windows and gushing zero velocity liquidity all rolled into one Ghostbusters reference?



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Obama Nominee, Antonio "Tax Inversion" Weiss Discloses Up To $203 Million In Assets

It appears Lazard's investment banker Antonio Weiss' "help" in tax inversions is not 'unpatriotic' enough to scare President Obama off - as we suspect Weiss' bundling and donating help more than offset any ethical challenges. However, in a somewhat eye-opening financial disclosure, Bloomberg reports that Obama's nominee for undersecretary of Treasury for domestic finance, has between $54 million and $203 million in assets spread across various family trusts and his anticipated compensation in 2014 is between $5 million and $25 million. It's good to know the 'people' are well-represented once again in Washington...



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Neo-Feudalism Has Officially Arrived – Congressman Suggests Building A Moat Around White House

"While the general population is aware something is seriously wrong, people remain extremely confused about the root of the problem. This is because what’s happening all around us isn’t socialism and it isn’t free market capitalism. It is actually a return to something much more ancient and much more oppressive. It is a return to serfdom, neo-fedualism and oligarchy."



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