The standard narrative we are told by the government and their lapdog media is that tax avoidance is something that self-centered rich assholes do so that they can buy more Ferraris. This is complete propaganda. Taking legal steps to reduce what you owe is all about ensuring that your labor goes to the causes that YOU believe in, rather than funding spy agencies and bombing raids on children’s hospitals.
Every market participant has pondered the shenanigans occurring in many commodities in recent weeks as Iron ore, Rebar, Copper, and Steel prices have all gone parabolic. We warned that this was not real demand-driven but purely credit-fuleed malinvestment here, and today, as Credit Suisse notes, we seem to have got confirmation as these metals are tumbling after China raises margins/commission on metal futures.
Workers of all ages are caught in a vice. Older workers need to keep working longer in an economy which values younger workers (and their cheaper healthcare premiums). And here's why so many workers have to work longer - earned income's share of the GDP has been in a free-fall for decades as Fed-funded financiers and corporations skim an ever greater share of the nation's GDP. (Thanks again, Federal Reserve, for hollowing out our economy to benefit the few at the expense of the many.)
A market entirely supported by rumors and hearsay can rally quickly, but also lose all gains at the drop of a hat. What the Doha debacle represents is a signal that the establishment is incrementally abandoning support for market systems. This is translating to a loss of faith in central banks and major financial institutions. On top of this, look at the incredible amount of misinformation and misdirection that went into Doha, now completely exposed. The truth is crystal; the MSM lied and obfuscated helping the establishment to drive up oil prices and stocks, all for a mere six to eight weeks of market security. As soon as these lies were revealed, volatility began to return. If the oil market bubble can implode (as it already has) in such a way due to the striking of fundamentals, then stocks can also be destabilized as well.
The reality that cannot be spoken is that all the financial systems we believe are permanent are actually on borrowed time. Alternatively, we can cling to a state of denial, and the dominant system will be replaced by arrangements that are not necessarily positive.
Maybe one day justice will be served and these people will know what it means for their entire families wealth to be evaporated as they have done to so many around the world.
"If somebody needs a bell ringing to figure out that the [market] frothy right now, then I’m in the business of selling hearing aids..."
As Adam Parker pointed out on Sunday, "'The main questions investors ask us today seem to be about the exterior appearance of the market and not fundamentals. “What is this price action telling you?” “What are other investors asking you about?” “How are other people positioned?” Or, “what’s the current sentiment?”" Here's why these are the only questions that matter.
For a huge period of time, Apple was an absolutely awful stock. It had its ups and downs, but the 1983 to 2003, a period of two entire decades, the stock went nowhere.
Among the many lessons of empires is one shared by virtually every empire:once the privileged few limit the rise of those from humble origins (i.e. social mobility), the empire is doomed to rising instability and collapse.
In a politician’s mind, the purpose of the existence of the populace is to fill the trough for the leaders. And, of course, the fuller, the better.
“Saudi Arabia appears to be blackmailing the US, saying it would sell off American assets worth a 12-digit figure sum in dollars if Congress passes a bill allowing the Saudi Government to be held responsible for the 9/11 terrorist attacks.” To say that this threat from the Sauds is just “another sign of the escalating tensions between Saudi Arabia and the United States” seems like saying that a neighbor’s threat to bomb your house would constitute just “another sign of escalating tensions” between you and your neighbor.
Why do they hate Donald Trump? Why has the Establishment pulled out all the stops in an effort to smear him, stop him, and crush him underfoot?
The Fed doesn't care about Main Street. It cares about just ONE thing: the Bond Bubble.
Fraud as a way of life caters an extravagant banquet of consequences. This can't be said politely: the entire status quo in America is a fraud.