CRAP

It’s over. Except for a short moment or a wild and self-exhausting governmental mandate (both of which are doubtful), there will never again be enough “good jobs” to go around. That model is gone and we need to root it out of our imaginations.

Last week the government reported personal income and spending for April. After months of blaming non-existent consumer spending on cold weather, shockingly occurring during the Winter, the captured mainstream media pundits, Ivy League educated Wall Street economist lackeys, and Keynesian loving money printers at the Fed have run out of propaganda to explain why Americans are not spending money they don’t have. The corporate mainstream media is now visibly angry with the American people for not doing what the Ivy League propagated Keynesian academic models say they should be doing. An economy built upon the consumption of iGadgets, Cheetos, meat lovers stuffed crust pizza, and slave labor produced Chinese baubles, along with the production of enough arms to blow up the world ten times over, and the doling out of trillions to the non-productive class, is doomed to fail.

“Volatility and repricing,” euphemism for losses, are the New Normal.

It's Q and A Time!

If the Fed end its strategy of reinvesting TSY holdings, net supply of treasury paper will be close to a trillion dollar per year, for the next decade, as the gigantic pile of securities on the Fed balance sheet shrinks and interest rate expenses explodes.  

"Until and unless we at least resolve all five of the following, and everyone involved wears an orange jumpsuit and has their corporate and institutional edifices closed down with the ill-gotten gains disbursed back to their victims we are, as a nation, DONE."

The “inconsequential” war certainly and drastically changed America, of that there is no doubt. Whether for the good, or bad, you’ll have to decide for yourself. On the positive side, the war did cement American independence. It proved that to defeat America on its home ground, a very, very large army, and a great commitment to prolonged and bloody war, was going to be needed. On the negative side; the war left the country with constitutional revisionism, centralized power, protectionism, mercantilism, expansionism, blind patriotism, and militarism. That decentralist small-government thingy conceived by the Founding Fathers didn’t last very long, did it? One must wonder “War, what is it good for? Was it all worth it?”

Having missed for a record 5 months in a row, Dallas Fed Manufacturing Outlook collapsed further in May to -20.8 (against expectations of -12.4). Thisis the 5th drop in a row (only ever seen in a recession) and 6th monthly miss in a row (never seen before) as it appears Former Dallas Fed Fisher was talking crap once again when he said "net, low oil prices were good for Texas." Despite Consumer Confidence indicating, somehow, that Texans are the most confident in a year (up from 121 to 130 in May), business survey continues to point to notable weakness with employment collapsing, hours worked crashing, and production plunged. However, on a bright note, expectations for the future jumped from -5.9 to +4.9 - hope springs etermal eh?

"I would be more than happy to see the cradle of democracy put the imperial autocrats and financial kleptocrats in their place, teaching them a thing or two about enlightened self governance."

Along with the privilege of leadership, comes responsibility.  The entire financialized abominNation is a national disgrace.

Why "industry standard," together with "standard procedure" are probably two of the most overused phrases in business

There is grave danger in the lack of momentum, as momentum serves as an indirect proxy for belief and rationalizations. Once they fade away it is harder to deny reality any longer. At the very least, top or not, it seems as if investors all across the financial landscape are themselves are losing faith not just in monetary policy and the economy but maybe even the idea that this was anything more than yet another bear market rally. Even Janet Yellen might think so; after all the “dollar” beat her to it.

The lines have been drawn in many police departments: it’s us vs. them. Trust in many departments has been utterly shattered within some communities because the police hold themselves to a different standard than they do the populace.  But the recent cases of police brutality are simply a symptom of a much larger problem. Society in the US is breaking down, civility has been lost, and the country is rapidly becoming uncivilized. This extends within and across all of the most important institutions.