The size and scope of the political, economic and financial problems that now challenge the relative stability and tranquility of developed societies are unprecedented. Negative interest rates combined with the eradication of cash appear as a desperate attempt to control global private wealth. Should the war on cash prove unsuccessful in its early stages, banks could be closed for long periods.
With the last crash being the almost-terminal Crash of ’08, readers have been warned on many occasions that the Next Crash is scheduled for this year.
According to Morgan Stanley the biggest threat to the profibatility, viability and outright existence of the most leveraged commercial bank in the world, is none other than ECB president Mario Draghi.
Having "nailed it" with the feces-infused water for the Olympics, killed the golden goose of its economy, and unable to crackdown on widespread corruption, Brazil now has a 'great' idea to solve its utterly disastrous Zika epidemic... by zapping millions of male mosquitoes with gamma rays from drones to sterilise them.
A decade ago John Perkins exposed the world to the ugly reality of Washington's "Economic Hit Men." Now he is back, exposing the fact that the evil empire has the world in the grip of a "death economy," concluding that "we need a revolution" in order "to bury the death economy and birth the life economy." But, as Paul Craig Roberts adds, don’t look to politicians, neoliberal economists, and presstitutes for any help.
"Few Europeans use the 500-euro note, and most Americans rarely encounter the $100 bill. Yet hundreds of millions of these notes are in circulation around the world, where they are often used by drug cartels, corrupt politicians, terrorists and tax cheats to evade law enforcement." The New York Times editorial board has once again exposed itself as a dangerous and duplicitous organ of entrenched established interests against the public. It must be exposed.
Hillary Clinton is a good investment for a billionaire - even for the 70% of them who are Republicans. And, based on those 2015 donation-figures, it seems that they would prefer a President Hillary Clinton, over a President Donald Trump. In such an instance, Hillary Clinton would probably draw a larger campaign-chest (especially considering super-pacs) than any candidate for any political office in U.S. (or global) history. Hillary Clinton would almost certainly be the most-heavily-marketed political product in history, if she becomes nominated and ends up running against Trump.
“It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men.”
Nowhere are the stakes higher than in Iraq, and selling oil at half the price it would take to just break even could break this giant’s back. It certainly isn’t enough to stave off the unrest in Basra, not to mention the ISIS threat.
No wonder we're devolving into a society of a few privileged haves and a vast populace of marginalized have-nots: the system has failed, but we can't even talk about it.
WTI crude prices are up almost 6% this morning with April (the new front-month) trading above $33.50 - testing post-DOE plunge stops. The irony of the ramp is that it comes amid terrible global PMIs (demand), a report from IEA of oil staying in glut for longer than expected (supply), and warnings from Abu Dhabi's biggest bank that $20 oil is possible. Oh well, we are sure the algos know what they are doing... despite veterans of the 1980s oil glut warning it could take 7 to 10 years to emerge from the current slump.
Many commentators have mentioned that Hillary Clinton left behind no major achievement as the U.S. Secretary of State; but, actually, she did. Unfortunately, all of her major achievements were bad, and some were catastrophic. Six countries were especially involved: Honduras, Haiti, Afghanistan, Libya, Syria, and Ukraine. The harm she did to each country was not in the interest of the American people, and it was disastrous for the residents there. Hillary Clinton at every campaign debate says “I have a better track-record,” and that she’s “a progressive who gets things done.” Here’s what she has actually done when she was Secretary of State...
“The most serious risk and the one that has the most potential for escalating in the future is the enterprises’ lack of capital," Fannie's top regulator, Mel Watt says. The GSEs' capital buffer is being steadily depleted as the government sweeps the entirety of the businesses' profits, putting taxpayers in the absurd position of having to bail out two entities they've already bailed out due to the constraints imposed in an effort to recoup the first bailout.
If you read much of the commentary, people blame the country's economic woes on the low oil price. But while the oil price drop may have been a proximate cause, and an aggravating factor, Venezuela's economic woes predate the current oil price drop by many years, and were going on even while the oil price was high, under President Hugo Chavez. The culprit is clear and obvious: The problem is Venezuela's authoritarian socialism.
The end result may be "peace," but of the Machiavellian sort. "Peace," Machiavelli wrote, is the set of conditions imposed by the winner on the loser of the last war. The Turks and the Russians understand him. The Americans? Perhaps not so much.