As Hilary Clinton starts to ponder the curtains she wants to hang in the Oval Office, there is only one person who can realistically stand in her way: Rand Paul.
"For real world people, it is a simple common sense that wealth does not fall from the sky. It has to be produced. It is beyond me that such an obvious truth is so difficult for elite economists to comprehend. This is largely because they just sit in the ivy tower, imagining the magic golden touch such as monetary and fiscal policies, mocking practitioners. They are so ignorant and arrogant."
Despite Krugman's “Mission Accomplished” Announcement, the Giant Banks Are Worse Than Ever
Every wondered why the rest of the world envied the US middle-class? There were many reasons once, a long time ago and one of them was their affluence, their wealth, their ability to be able to afford whatever they wanted.
Wall Street can clean up junk well enough, but it can't make it go away.
The strength of the real estate market should not be measured by price appreciation, or the number of new and existing home sales. It should be measured by the support of underlying fundamentals and whether they can help to withstand economic cycles without policy makers having to go hog wild just to avoid a total collapse.
So how healthy is the real estate market today?
We all knew that cultures were different and that we all had a unique way of doing things that run our daily lives. In Europe they tell the banks that they will die if they are weak (apparently, after the statement issued by Danièle Nouy, overseer of the Singe Supervisory Mechanism).
Tonight, when O does call for higher taxes on the rich, half of the congressmen will stand and applaud.
Fortune Magazine front page today: Middleton sounds a bit like an 18th-century pirate striking back against the Empire when he declares that "what I'm doing right now is a direct threat to fiat merchant banking."
In the 1st installment of this article – May the Odds Ever Be in Your Favor – The Reaping, we addressed how wealth inequality created by men rigging the system and utilizing media propaganda ultimately leads to rebellion. In Part 2, we will show how hope and defiance can ignite the flame of liberty in the minds of men. Edward Snowden has ignited that flame. A Lot of Hope is Dangerous... Linear thinking old timers are likely to scoff at the notion that some trilogy of novels for teenagers could capture the mood of the time in a way that explains how the people of this country will respond to the current worsening Crisis. History is cyclical and we’ve returned to a time where leaders will step forward to lead and brave heroes step forward to fight. The future of the country hangs in the balance.
Confused by all the trial balloons, meandering daily Op-Eds (most of which written by novice journalists with even more bizarre agendas), and "paddy power" market updates? Then here is Scotiabank's Guy Hasselman with his latest rundown on just where we stand in the race for the next Fed chairman.
There are times when some people bite their own nose of just to spite their face. According to a report that has just been published by the Chartered Institute of Personnel and Development (CIPD), the people working in the financial sector in 120 different countries in the world think in the overriding majority of cases that they are paid far too much for what they do. Were they serious?
What was that single that soul singer Otis Clay brought out in 1980? Oh yeah, ‘The only way is up’! Well, if ever there were a more fitting signature tune these days for CEOs in the USA, then that’s what I’d be betting (my bottom) dollar on!
A few days ago, to the surprise of many, the European Parliament voted through substantial curbs on banker pay, limiting bonuses to twice the annual salary (we have yet to see the list of pre-existing loopholes, which we are confident will be wide enough for Arnold's hummer to pass through). Today, in a less surprising, although perhaps more notable development, more than two-thirds of the Swiss people voted through a proposal to curb "fat cat-ism" in Switzerland, and impose strict controls on executive pay, including compensation vetos and payout bans. The development is notable, because unlike other insolvent nations, Switzerland is actually one of the most affluent sovereigns in the world, and class warfare is hardly as much an issue as it is in the US. The fact that Swiss society is as polarized as it was confirmed to be this morning, shows just how deep the rich vs, well, non-rich tensions truly lie, even in the most wealthy of societies. One can then imagine how close to snapping they are in other less well-off places, read most countries, in the world.
"Punxatawdry Ben is the annual bellweather of false profits; he prints predictably and then the ink disappears."--WilliamBanzai7