In modern times, war is never what it seems. Mainstream historians preach endlessly about grand conflicts over territory, resources, political impasse, and revenge, but the cold hard reality is that all of these “motivations” are actually secondary, if they are relevant at all. If you really want to understand the past, or the intricacies of war, you will be lost unless you accept that most conflicts are designed; they are not random or natural. They are not the product of too much national sovereignty or individual liberty. No; traditional war is a tool for the organized ruling class. It always has been and always will be.
Just minutes after Poroshenko's fearmongering speech to US Congress (and in the face of a collapsing Ukraine economy), The White House has released its "fact sheet" to explain exactly how committed (aside from the lethal aid demands - which may or may not be happening as we noted here) to supprting Ukraine the US taxpayer is... On top of guaranteeing $1 billion of Ukraine's debt, a further $291 million in 'assistance' has been flooded in... here's what for...
In a surprise for the market, South Africa's Reserve Bank chief Gill Marcus has announced she will not be available for another term when her contract is up in November. On the heels of an expected decision to leave rates unchanged, this has sent the Rand tumbling to its lowest since February. While Marcus exporessed every confidence in her successor, it appears the market is less confident (for now). Forget the economy, sell ZAR because the true leader of the nation's wealth is to step down...
The economy we have now is like a mental patient, drugged up with so many antidepressants, antipsychotics, and mood stabilizers that the root of his problems has become undetectable. It sounds Utopian, but economic growth really is a panacea that improves standards of living for everyone in nearly every way. But instead of pursuing economic growth, the government wastes its time with piecemeal patches, trying to plug a hole whose cause remains unabated.
What’s the easiest way to make a 500x return on investment?
If nothing else we have learned it doesn’t matter how obvious the lie is if people don’t want to know the truth.
The dashing of youthful expectations of open-ended wealth and security for everyone with a college degree is highly combustible when combined with a popping real estate bubble, systemic corruption, the implosion of a shadow banking credit bubble and the impending global recession.
- Euro left reeling after ECB's liquidity splurge (Reuters)
- Coalition Emerges to Battle Islamic State Militants (WSJ)
- Ukraine Gas Chief Takes on Gazprom in Race With Winter (BBG)
- Nato leaders fail to agree spending targets (FT)
- JPMorgan Had Exodus of Tech Talent Before Hacker Breach (BBG)
- Mercedes-Benz Sales Rise Despite Weak German Demand (WSJ)
- Secret Network Connects Harvard Money to Payday Loans (BBG)
- ICE looks to crack financial data market (FT)
"The entire problem we face going ahead stems from the very idea of Karl Marx that government is capable of managing the economy either through communism or autocratic-socialism where the state dictates to the economy under the pretense of caring for the people, that has truly become a derivative of fascism where the state comes first."
Simply put, "Savers are being exploited by government under the pretense of managing the economy."
- Global stocks bounce on sign ECB could launch ABS program (Reuters)
- Putin unveils Ukraine ceasefire plan, France halts warship (Reuters)
- Poroshenko Flummoxes Investors With About-Face on Truce (BBG)
- No Free Lunch for Companies as IRS Weighs Meal Tax Rules (BBG)
- Turkey Struggles to Halt Islamic State 'Jihadist Highway' (WSJ)
- Lego Becomes World's Largest Toy Maker on Movie Success (WSJ)
- U.N. says $600 million needed to tackle Ebola as deaths top 1,900 (Reuters)
- Goldman Sachs Named 'Stabilization Agent' for Alibaba Stock Offering (WSJ)
While many will claim otherwise, often those who are awakening just want the system to be ‘fixed’ so they can go back to sleep.
The violent protests that raged yesterday have turned deadly as clashes between riot police and anti-government protesters left 3 dead and at least 470 injured according to The WSJ. The military, who are acting as mediators between PM Sharif and opposition leader Imran Khan have warned both sides that they neither support the others view or sanction further use of violence to suppress crowds. Mr. Khan exclaimed to the people, "if you want to be free, if you want to have a real democracy, the time has come;" as another protester noted "the police were brutal, but that is good because whenever blood is shed in a movement, it turns into a revolution." Meanwhile, the so-called "soft-coup" as WaPo refers to it continues to harden (threatening $3bn of US aid) as Prime Minister Sharif is left with fewer and fewer options.
- Off balance sheet vehicles? Check
- Conflicted bank "research" recommending muppets buy stock while soliciting banking fees from same stock? Check
- Hoping to sell debt on to muppets? Check
- Chinese corruption? Check
- State bailout of failed bank? Check
Although I never thought it was possible, it makes me angry to write this book review. I'm not angry because I don't like the book. On the contrary, this is the best economics book I've ever read. Indeed, it may be the best and most influential book I've ever read in my life. I only wish I had read it the moment it was published in April 2013.