ETC

"We The Prisoners": The Demise Of The Fourth Amendment

Aided and abetted by the legislatures, the courts and Corporate America, the government has been busily rewriting the contract (a.k.a. the Constitution) that establishes the citizenry as the masters and agents of the government as the servants. We are now only as good as we are useful, and our usefulness is calculated on an economic scale by how much we are worth - in terms of profit and resale value - to our “owners.” Under the new terms of this one-sided agreement, the government and its many operatives have all the privileges and rights and “we the prisoners” have none.

Bank of America: "If You Are Going To Panic, Panic Early"

"While globalization, immigration and the free market have strong support from the winners of these themes – the plutonomists and the highly educated, in our view they seem to have underestimated the frustration of developed market middle and working classes... We suspect that few will pay attention to these tectonic shifts – it will require more Brexit-type surprises for the message to sink in."

Brexit Is What Happens When The Pie Is Shrinking

A great many narratives are drifting around the Brexit pool: a return to sovereignty, class war, "controlled demolition," nothing-but-another-political-Kabuki- spectacle, end of the European Union, etc. We think it boils down to something much simpler: the pie is shrinking, and the illusion that it's about to start growing has been shattered.

Deutsche Bank: "There's No Escaping The Fact That This Is A Class War"

"There's no escaping the fact that this is a class war. Whether its globalisation, immigration, inequality, poor economic growth or a combination of all of them it's quite clear from this and other anti-establishment movements that the status quo can't last in a democracy. Eventually you'll have a reaction. This is one such major reaction and given that the UK growth rate has been ok of late, it would be strange if pressure didn't continue to build elsewhere where growth has been lower for longer."

A Tale Of Two Asset Classes: Gold Miners Soar, Banks Crash

"...that’s credit bubble thinking. Banks are dominant forces in an economy only when that economy is creating an unhealthy amount of credit. When the process exhausts itself the banks tank, and terrified capital flows back into “primitive” safe havens. Like Friday..."

After Brexit: The System Cannot Hold

The overwhelming underlying principle that we see at work here is that centralization is dead, because the economy has perished. But that is something we can be sure no politician or bureaucrat or economist is willing to acknowledge. They’re all going to continue to claim that their specific theories and plans are capable of regenerating the growth the system depends on. Only to see them fail. It’s high time for something completely different, because we’re in a dead end street.

The Fed's 3rd Mandate & The Value Of Cash

Jan 2008: Bernanke "The Federal Reserve is not currently forecasting a recession." Jun 2008: Bernanke "The risk that the economy has entered a substantial downturn appears to have diminished." Jun 2016: Yellen "chances of recession this year are 'quite low'... The U.S. economy is doing well. My expectation is that the U.S. economy will continue to grow." Channelling Bernanke?