Leo Kolivakis's picture

An Extraordinary Coup?

While US workers are now working more hours and have become dramatically more productive and profitable, their pay is actually declining and all the dramatic increases in wealth are going straight into the pockets of the Economic Elite. The financial coup that begun in the US is now spreading across the world, threatening the fabric of our societies. How will this all end?

George Washington's picture

"It's not something that is 10 years away. It affects the markets currently," he told the House Financial Services Committee. "It is possible that bond markets will become worried about the sustainability [of yearly deficits over $1 trillion], and we may find ourselves facing higher interest rates even today."

madhedgefundtrader's picture

The shrinking contango does not bode well for prices. US hedge funds are operating the world’s second largest navy. You could almost walk across the Caribbean without getting your ankles wet. Don’t buy any more oil at these prices than you can use in your salad dressing. The “monetary” demand for oil is on the wane. There is just a pig in the python in that has to be digested. (USO)

Reggie Middleton's picture

If the engineered bear market rally is running off of the FASB generated lies, then we certainly do have another crash coming, don't we? It truly is a damn shame how the financial integrity of this country has been sold to the highest bidder through the most influential lobbyist. Don't they realize they are destroying the essence of what makes the American markets the global leader - the perception of transparency, honest accounting and reliable financial reporting?

Leo Kolivakis's picture

Quebec pension-fund manager La Caisse de Dépôt et Placement du Québec generated a return from its investments of 10% in 2009, a sub-par number when compared to other Canadian pension funds but a dramatic turnaround from its catastrophic loss of $40 billion in 2008.

smartknowledgeu's picture

A yet to be verified story from Rough & Polished, a Moscow based website, reported that China had “confirmed its decision to acquire 191.3 tons of gold auctioned by the International Monetary Fund.” Of course, until official confirmation comes from China, no one will really know if this story is true or not. However, if true, here’s why this story would be hugely significant to the gold market.

Econophile's picture

Expect the Unexpected

Why is it that the data of the current economic reports coming out are "unexpected" by most economists? Today new unemployment claims and durable goods orders came out and were termed "unexpected." There is a reason. You should learn to ignore (most) economists.

George Washington's picture

"In a 13 month period from May 2003 to June 2004, the Federal Reserve sent nearly $12 billion in cash, mainly in $100 bills from the United States to Iraq. To do that, the Federal Reserve Bank in New York had to pack 281 million individual bills ... onto wooden pallets to be shipped to Iraq. The cash weighed more than 363 tons and was loaded onto C-130 cargo planes to be flown into Baghdad"

Econophile's picture

Team Obama wants us consumers to spend, spend, spend. Somehow Comptroller of the Currency John Dugan didn't get the message since he supports 'America Saves Week' and wants us to save and feel financially secure. I like this guy.