Even despite the saturation criminality that readers have already seen, many will still argue that we “need” these Big Banks, and that we even “need” fractional-reserve (no reserve) fraud.
It is Pedro's "courage to write" what Bernanke conveniently forgot to add in his memoir, that makes this review so much more memorable than the generic sycophantic tripe written by his "access journalism" peers.
A false capitalism reigns based on false capital - notional wealth where there is really no wealth; value where there is no value. Moments like this in history beat a path straight to currency collapse, and that will open the door to a greater collapse of all our familiar arrangements.
- Dollar rises versus euro, oil drops before ECB, OPEC meetings (Reuters)
- Smog chokes Chinese, Indian capitals as climate talks begin (Reuters)
- Obama: COP21 Paris Climate Talks Could Be ‘Turning Point’ For Planet (BBG)
- China plans to launch carbon-tracking satellites into space (Reuters)
- Scientists Dispute 2-Degree Model Guiding Climate Talks (WSJ)
- At NATO, Turkey defiant over downing of Russian jet (Reuters)
- ECB Left With No Choice But Action After Draghi's Priming (BBG)
If we want to get to a world where terrorism isn’t such a regular tragedy, governments need to start recognizing the fact that the so-called “War on Terror” is a self-fulfilling prophecy destined to foment one thing and one thing only: more terrorism.
Financial crises can happen quickly, like the bursting of the tech stock bubble in early 2000, or slowly, like the late-1980s junk bond bust. The shape of the crash depends mostly on the asset in question: Equities can plunge literally overnight, while bonds and bank loans can take a while to reach critical mass. China’s bursting bubble is of the second type. "If, as seems likely, the government has succeeded in getting funding to higher risk sectors by relaxing bond approvals," wrote Christopher Wood of brokerage CLSA in a recent note, "it is all rather scary, given the regulatory failures exposed by the A share boom-bust cycle."
A simmering rage is bubbling below the surface as 20% of American households rely on food stamps to survive, the percentage of Americans in the labor force stands at a four decade low, real household income remains stagnant at 1988 levels, corporate profits have reached record levels while corporations continue to fire Americans – shipping their jobs overseas, and the six mega-corporations representing the mainstream media cover up the truth, mislead the public with propaganda, while celebrating the .1% as saviors of our economy. There is nothing more volatile to societal stability than millions of unemployed men, growing angry and resentful towards the ruling class for their lot in life.
It's the kind of business plan that would be laughed out of a business school classroom. "The co-ops were essentially amateur exercises." Why not scrap the perverse ACA regulations and admit it was a pipe dream to ever assume young, healthy people could be coerced into paying several times their expected costs to cover other people’s excessive spending.
- Russia Takes Aim at Turkish Economy Amid Fighter-Jet Spat (WSJ)
- ‘Commercial scale’ oil smuggling into Turkey becomes priority target of anti-ISIS strikes (RT)
- Russia-Turkey Ties Are Headed Into a Deep Freeze (WSJ)
- France signals softer stance on Assad after Russia talks (FT)
- China Calm Shattered as Brokerage Probe Sparks Selloff in Stocks (BBG)
- China Stock Bulls Hit Breaking Point as State Dials Back Support (BBG)
- China's Bond Stresses Mount as Two More Companies Flag Concerns (BBG)
A society that is given the option to protect itself is not a fearful society, it is a prudent one. The victims of Paris were never allowed the option to protect their lives, nor were they fortunate to have armed defenders present or trained combatants to stop the attack before it reached them. People need the opportunity to secure their own safety since, as the past twelve years has shown, the State will fail them.
These are abuses that no American should tolerate from its government, and yet not only do we tolerate them, but we help to advance them by supporting meaningless elections, allowing ourselves to be divided by partisan politics, and failing to hold the government accountable to abiding by the rule of law, the U.S. Constitution. Mark these words: if we do not push back against the menace of the police state now, if we fail to hold onto the Constitution and our constitutional republic, and if we allow the government to remain the greatest threat to our freedoms, then future Thanksgivings will find us paying the price with tyranny at home and anarchy throughout the world.
With seeming daily record highs in stocks such as AMZN, FB and others it is easy to get excited about further tech gains. They never go down after all, or the so the impression goes...
"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.”