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What Alan Greenspan Is Most Worried About

"... it's very difficult to see where the next step is except what I'm concerned about mostly, is stag-flation, meaning I think we're seeing the very early signs of inflation beginning finally to pick up as the issue of deflation fades.... we're in a situation now where looking at the interest rate levels that we're looking at and the inflation rates we're looking at, it's very clear that we're going to be moving reasonably shortly into a wholly different phase."

European Bank Stress Test Preview: What To Expect And How To Trade It

While the main event in today's European bank stress test was leaked moments ago, when Monte Paschi board member Turicchi said that the bank has finalized a bank consortium for a critical capital hike, suggesting that contrary to last minute jitters the bank has found the needed number of willing banks to provide €5 billion in fresh capital it needs resulting in the bank's 3rd bailout in the past 2 years - this one courtesy of the private sector - there may still be some surprises.

Peter Schiff Slams The Fed's 'Loud Talk, No Stick' Policy

Theodore Roosevelt’s famous mantra “speak softly and carry a big stick” suggested that the United States should seek to avoid creating controversies and expectations through loose or rash pronouncements, but be prepared to act decisively, with the most powerful weaponry, when the time came. More than a century later, the Federal Reserve has stood Teddy’s maxim on its head. As far as Janet Yellen and her colleagues at the Fed are concerned, the Fed should speak as loudly, frequently, and as circularly as possible to conceal that they are holding no stick whatsoever.

David Stockman Warns "2008 Was Just Spring-Training For What Comes Next"

In effect, America has undergone a rolling national LBO since the Gipper’s time in office; so the U.S. economy is now stuck in the ditch because it has leveraged itself to the hilt over the past three decades. The vast majority of Americans are no longer living the dream because Wall Street speculators and Washington politicians alike have led them into a debt-fueled fantasy world that is coming to a dead end.

Monte Paschi Bailout In Peril As 3 Banks Walk Out: Are More "Pensioner Suicides" Next?

According to Reuters, Morgan Stanley and Italian lenders UniCredit and Intesa SanPaolo have rebuffed a proposal by Italy's third-largest lender, Banca Monte dei Paschi di Siena to back its proposed 5 billion euro cash call, a development which may lead to a bail-in of the troubled lender, and potentially spark contagion across the Italian banking system.

Wikileaks Releases Hacked DNC Voicemails During Convention Speeches

Last night, just ahead of the Democratic National Convention's prime time event as president Obama was set to begin his speech praising Hillary and slamming Trump, WIkileaks released another batch of leaked data from the DNC, this time in the form of hacked voicemails from top Democratic officials. However, a cursory skim of the release underwhelmed, suggesting no major developments would emerge as a result of this particular disclosure.

Why A "Dollar" Should Only Be A Name For A Unit Of Gold

"A general acceptance of the principles of the flexible standard must therefore result in a race between the nations to outbid one another. At the end of this competition is the complete destruction of all nations’ monetary systems."

How Facebook "Accidentally" Blocked DNC Email Leak Scandal

Once again, the impartiality of Facebook’s news feature is being called into question. This time, the social network claims itaccidentally obstructed all links to the leaked Democratic National Committee emails published by Wikileaks just ahead of the party’s convention.

New Legislation Proposes To "Bail-In' Social Security

Even Social Security knows that they’re bankrupt and unable to keep their promises to taxpayers... Well, the government has figured out a solution. And it’s genius. Meet The SAVE-UP Act - “Secure, Accessible, Valuable, Efficient Universal Pension Accounts Act”.

Michelle Obama Takes A Shot At "Make America Great Again"

"Don’t let someone tell you this country isn’t great - that we need to make it great again. Because, right now, this country is the greatest country on Earth." or “Well, that was a colossal waste of my time,” said Obama with an air of weary irritation before reminding the audience she had been 45 years old at her husband’s inauguration and now she was “fifty-fucking-two.”