There is no mystery anywhere to be found in the fact that US retail sales don’t follow the jobs trend. Not if you look at what kind of jobs they are, let alone at all the other made up and manipulated numbers that are being thrown around about the US economy. The only mystery is why everyone persists in talking about a recovery. That recovery will never come, simply because all 90% of Americans do is pay for the other 10% to get richer. There are many other factors, but that all by itself makes a recovery a mathematical mirage.
There was a point in 2010 when American capitalism might have had an opportunity to heal itself and commence on a long march toward sustainable growth and real wealth gains. But the monetary politburo would have none of it - keeping the pedal to the metal until this very moment... and the rest is history. The Fed and the other central banks around the world have fomented a new and even more virulent and dangerous financial bubble.
Must Have Been Wearing Tinfoil Hats ... And Living In Their Mom's Basement
Warren Buffett's “financial weapons of mass destruction” - how are you?
- As reported here first: The U.S. Has Too Much Oil and Nowhere to Put It (BBG)
- Dollar Drops From 12-Year High as S&P Futures, Bonds Gain (BBG); Dollar Bulls Retreat From 12-Year High to Euro With Fed in View (BBG)
- Clinton Private Email Plan Drew Concerns Early On (WSJ)
- ECB Bond Buying Not Needed With Economy Improving, Weidmann Says (BBG)
- China Feb new yuan loans well above forecast (Reuters)
- U.S. probing report Secret Service agents drove car into White House barrier (Reuters)
- Kerry tells Republicans: you cannot modify Iran-U.S. nuclear deal (Reuters)
- PBOC Pledges to Press on With Rate Liberalization Amid Slowdown (BBG)
- China Prepares Mergers for Big State-Owned Enterprises (WSJ)
As Ronald Reagan said, trust, but verify!
After all 31 banks passed Dodd-Frank's "stress"-test with flying colors and awaited The Fed's CCAR blessing to spread the wealth to shareholders, we thought ironic that The Fed's Tarullo had previously commented that "we don't want banks to know the stress-test scenarios and tailor their portfolios to meet our goals," because that would never happen. The CCAR results are now out and 28 of 31 passed. Deutsche Bank, Santander failed for "qualitative" reasons (with significant and widespreasd deficiencies in risk management) and Bank of America will need to resubmit their proposal.
First she tried to take over the credit derivatives world which she first had to create, and succeeded. Then, after Enron failed, she tried to take over the California electricity market and also failed. And all through this time she made sure the prices of the world's precious metals were right where she wanted them. Now, a year after an embarrassing attempt to become head of her former regulator ended in humiliation, she is back and has her sights set on the final financial frontier: Bitcoin.
Russians view the United States much more unfavorably today than they did during the end of the Cold War era. As you will read about below, an astounding 81 percent of all Russians now view the United States negatively, and only 13 percent have a positive opinion of this country. In all of the years when Russians have been surveyed on their attitudes toward the U.S., they have never been this negative. But of course Americans generally do not view the Russian people unfavorably. Even while most Americans are extremely apathetic about what is going on over in Russia, an increasingly large chunk of the Russian population is angry enough to go to war.
"...as with the car on a slush-covered highway, any fool can get it to spin out, but that same fool is then unlikely to have the presence of mind, the skill and the steel nerves to keep it from hitting one of the barriers. Same goes for the would-be builders of an “empire of controlled chaos”: sure, they can generate chaos, but controlling it in a manner that allows them to derive some benefit from it is rather out of the question, and even their ability to stabilize it, so that they are not themselves hurt by it, is in grave doubt."
Most Canadian readers (in particular) will be aware by now of an extremely important trial currently taking place, a lawsuit by a citizens’ action group against the Bank of Canada: COMER vs Bank of Canada. It is extremely important, both in specific and symbolic terms, which is precisely why the Corporate media has totally censored any/all coverage of this legal challenge, which goes to the very heart of the corruption of our current monetary system.
The term “Martial Law” is thrown around with reckless disregard..."Martial law occurs when the prevailing regime feels threatened by the message being offered by the loyal opposition. When normal means of censorship and marginalization fail, despotic regimes resort to martial law with all intended brutality of a violent crackdown on all of those being perceived as the 'enemy'." Just how many intrusive government policies are in place in the following video?
Back in August, when we wrote about the latest instance of trouble in Maduro's socialist paradise, we cautioned that as a result of the economic collapse in the Latin American nation, Venezuelans soon may need to have their fingerprints scanned before they can buy bread and other staples. Privacy concerns aside (clearly Venezuelans have bigger, well, smaller fish to fry) there was hope that this plunge into insanity would be delayed indefinitely, as the last thing Venezuela's strained economy would be able to handle is smuggling of the most basic of necessities: something such a dramatic rationing step would surely lead to. Unfortunately for the struggling Venezuelan population, the time has arrived and as AP reported over the weekend, Venezuela "will begin installing 20,000 fingerprint scanners at supermarkets nationwide in a bid to stamp out hoarding and panic buying" as of this moment.
Why are negative interest rates now making an appearance? They are a natural consequence of the rampant money creation undertaken by central banks in response to the global financial crisis as there is a lot more newly-created money floating around the financial system than there are safe places to put it. With the increasingly globalized world of international finance a bank run or financial panic anywhere can easily become a bank run or financial panic everywhere, it might be a good time to give your mattress a bit of extra padding.
Since 1969, when the U.S. U-3 unemployment rate has hit a 6-year low while the stock market is at a 12-month high, the market has been lower 1 year later 12 out of 13 times by a median 14.8%...