The lies we tell ourselves are only exceeded by the lies perpetrated by those controlling the levers of our society. The country has been living a Big Lie since the day Nixon closed the gold window in 1971, eliminating any vestiges of constraint upon central bankers and politicians.
He got caught up in the future of energy, instead of focusing on maximizing profits and running the business in the here and now.
Even as large swaths of the population call for media outlets to do their part in stemming the “dangerous tide of hatred, violence, and suspicion” taking hold in the United States, corporate media - which stands to benefit nicely from the $5 billion 2016 presidential election - is egging on that same divisive rhetoric.
Day after day, the 'stability' in the stock "markets" (specifically in AsiaPac) is posited as 'proof' that China is 'fixed', the worst is over in EMs, The Fed can raise rates, and massive monetray policy manipulation of market signals had no mal-investment consequences. Well all of that utter crap just got obliterated as China's right-hand-man in the credit-fueled commodity boom bust - Australia - just saw its business capital expenditure collapse 20% YoY - the biggest drop ever, accelerating the crash in business spending to 11 quarters. As Goldman warns, this exposes significant downside risk to any forecast for GDP recovery in 2016.
"Fake", a simple definition: something that is not what it purports to be, a worthless imitation passed off as genuine; an impostor or charlatan.
Example: “American society is extraordinarily fake; filled with lies, fraud, facades, mirages, deception, disinformation, misinformation, propaganda and brainwashing.”
There is ample evidence suggesting that Millennials simply do not want the same things as their Taco Tuesday baby boomer parents. And many simply don’t want the McMansion aspiration since many are going to have small families. This is an interesting shift. Boomers are trying to off load larger crap shacks to an audience that is more interested in smaller more centrally accessible properties.
To believe this isn’t a bubble is to believe that all of the hot momo money from insti’s, high/biotech, flipper, flappers, fraudsters, and foreigners buying houses is fundamental and here to stay, which is exactly what everybody thought in 2006. Or, to believe that interest rates will keep falling 1% per year going forward, which would lend an element of support to prices.
Those were just excuses, it’s not like any of those factors suddenly changed and were fixed magically on October 1st.
listening to the ECB panel trying to justify more stimulus of bond buying in their herculean fight to save ‘low’ inflation from damaging European citizens was just pure comedy beyond a Monty Python skit.
Two recent surveys, along with numerous other studies and data, reveal most American households to be living on the brink of catastrophe, but continuing to act in a reckless and delusionary manner. Telling people the truth today is meaningless, as they don’t want their illusions destroyed. But destroyed they will be, when this teetering edifice of debt comes crashing down on their heads.
Are you a yield-starved investor? Joshua Siegel has a deal he wants to sell you and it involves subordinated loans originated by "35 community banks, some of them so small they don’t have credit ratings."
AsiaPac stocks were generally lower heading into the all-important Chinese macro data (S&P -6pts, Japan -0.7%, China -0.2%) as JPY erased Friday's ramp and crude dropped back below $47. The PBOC left the Onshore Yuan fix practically unchanged (following Friday's significant devaluation). Then the data hit... China GDP beat expectations (printing 6.9% YoY vs 6.8% exp) but is still the lowest growth since Q1 2009. Industrial Production missed (printing 5.7% YoY vs 6.0% exp). Retail Sales beat (10.9% YoY vs 10.8% exp). The initial reaction was kneejerk buying in USDJPY and stocks but that is fading as "good news" will relieve The Fed's angst over growth...
The very foundation of the free Internet is under severe threat from copyright laws that could ban independent media outlets, according to Matt Drudge. "I had a Supreme Court Justice tell me it’s over for me,” said Drudge, warning web users that they were being pushed "pawn-like" into the cyber "ghettos" of Twitter, Facebook and Instagram.
Hedge fund manager exposes the ugly truth about America's energy revolution: it's like the housing bubble but larger!