In a small victory for California taxpayers, a court has upheld the right of Marin County to adjust pension payments to employees who utilize a technique known as "salary spiking" to boost their annual pension payments in retirement.
"We are raising our 12-month price targets for the S&P 500 – base case from 2200 to 2300, bear case from 1600 to 1800, and our bull case from 2400 to 2500... For the bull case, we are leaving our EPS essentially unchanged, moving the out year from $137.1 down to $136.5, but raising our bull case multiple from 18x to 19x, yielding our new 2500 bull case forecast."
The Big Lies that pervade the U.S. ‘news’ media are the ones that are essential to sustain in order for the deceived American public to accept the fraudulent basis upon which the U.S. regime of Barack Obama has ‘justified’ his economic sanctions against Russia, and his pouring of U.S. troops and weapons onto and near Russia’s borders...
As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic - they must grow continually or implode - hence they require ever more money to be lent into existence. As the peak of a credit bubble is reached, all these necessary factors first become problematic and then cease to be available at all. Past a certain point, there are hard limits to financial expansions, and the global economy is set to hit one imminently.
Since July of 2011, two of the largest and most important asset classes in the world, US Treasury debt and gold valuations, have been moving in contradiction to supply and demand data. US Treasury rates have fallen by a third since the vast majority of previous buyers since have ceased accumulating... and gold has fallen about 25% on increasing physical demand. These are simply not the hallmarks of a free market. However, the only thing investors should be more afraid of than a free market correction or potential market crash is the absence of free markets...
"Europe’s history is not quite so rosy... everyone here knows that... However, somewhere along the line we confused enlightenment with passivity, self loathing and ignorance. I’d like to thank team Soros, the EU, the IMF et al and the myriad of cultural marxists that infest our schools for that..."
"...have often wondered if/when the softening on the War on Drugs would be used as a weapon of disarmament. This is an interesting ploy by the feds to use the move towards decriminalizing marijuana as a means of barring Second Amendment lovers from purchasing guns – since it will be argued that marijuana introduces a dangerous or ‘irrational and unpredictable’ element. Of course, they don’t ban alcoholics or prescription pill poppers from purchasing weapons, but I’m sure that many people would be interested in doing so if they could."
"... we recommend in each specific case an individual review of the economic efficiency of a physical delivery. Should an investor’s request for the handover of physical gold not have been complied with immediately in individual cases, this will be reviewed and an individual solution will be found with the client."
There is a soaring market for self-serving narratives, rigged statistics like the jobs report and unemployment, and officially sanctioned PR campaigns aimed at creating approval (or passive acceptance of) a corrupt, phony status quo. All bubbles, even the one in distributing bullshit, eventually pop, decimating all who relied on the bubble for their livelihood.