Forget the noise... it's time to back up the truck.
- Obama orders U.S. airstrikes in Syria against Islamic State (Reuters)
- Obama Relying on Mideast Allies to Counter Islamic State (BBG)
- Scotland Nationalists Claim U.K. Oil in 40-Year Campaign (BBG)
- Scottish Polls Embolden Catalans Pushing Rajoy for Vote (BBG)
- Royal Bank of Scotland: RBS will leave Scotland if voters back independence (Guardian)
- Most Hedge-Fund Managers Are Overpaid, Unigestion Says (BBG)
- China Inflation Softens to Four-Month Low (WSJ)
- Munger Hosts Groupies, Mocks Wall Street, Praises Buffett (BBG)
When Lee Goldsmith drives by one of the many fake cellphone towers being discovered throughout the U.S., his $3,500 CryptoPhone 500 will immediately display the warning message in the thumbnail image to the left. When you drive by the same fake towers, known as “interceptors,” your run of the mill iPhone or Samsung Galaxy won’t alert you to any potential security breach. And that’s exactly how those people who installed these interceptors, whoever they are, like it. What Lee Goldsmith and other users of the CryptoPhone 500 have discovered while driving across part of America will shock and disturb you.
"Get up! Get down! Fast-food workers run this town!" were the chants from fast-food workers in over 100 cities across America today, as empowered by President Obama's explanation of 'fairness', they demanded a $15-per-hour minimum wage amid strikes, rallies, and acts of civil disobedience. Many fast-food chains and independent restaurants have said that a $15 hourly wage would lead to big price increases on their menus or make it impossible to eke out a profit, adding that they "believe that any minimum wage increase should be implemented over time so that the impact on owners of small and medium-sized businesses." Police arrested 19 workers in NYC and several dozen were placed in handcuffs in Detroit and organizers strongly denied unconfirmed fast-food industry accusations that some workers were being paid $250 to $500 by the union to strike. While the economic reasoning for a minimum-wage hike has been dead-and-buried, we try one more time to explain the hidden costs of the minimum wage.
"Ferguson is a flash-point. Justifying the shooting is irrelevant. This is no longer a race riot, it is being seen worldwide as war waged by military troops pretending to be police and this crosses the line for that same level of force will be used against white protesters when the economy turns down. The goal is to be so harsh and cruel, like in Donetsk, anyone who disagrees better not show their face."
Perhaps the only question emerging from this profile of the first document US citizen casualty fighting for the Islamic State, whose name earlier was revealed as Douglas McAuthur McCain, is whether he and John are related.
And Should We Just Kill Them All - as an American News Commentator Suggests - and Let God Sort 'Em Out?
In the past, the president has been quick to weigh in on issues regarding race. Waiting until all the facts of a case are confirmed may be a better approach.
We believe Ferguson will be seen as a major turning point. The point in which many well-intentioned, but incredibly naive folks in white mainstream America woke up to what we have become. Many people, particularly those in the media, have been willfully ignorant about the destruction of freedom and civil liberties in America. The events in Fergus have taken a gigantic mirror and successfully pointed it squarely at our civil society and the image it has reflected back is one of a horrific, militarized, authoritarian monster. So how did this transformation occur and what does it mean going forward?
- Police fire tear gas, stun grenades at Missouri protesters (Reuters)
- Putin’s Pipeline Bypassing Ukraine at Risk Amid Conflict (BBG)
- Russia's Largest Oil Company Seeks $42 billion to Weather Sanctions (WSJ)
- Shells hit central Donetsk, Russian aid convoy heads towards border (Reuters)
- U.S. Tightens Sanctions, Putting More Russian Companies at Risk (BBG)
- How to Blindly Score 43% Profit Overnight in China Stocks (BBG)
- Tears guaranteed: San Diego Pension Dials Up the Risk to Combat a Shortfall (WSJ)
- Euro Recovery Halts as Germany Shrinks, France Stagnates (BBG)
- Billionaire Found in Middle of Bribery Case Avoids U.S. Probe (BBG)
- Hillary Clinton, Barack Obama 'Hug It Out' on Martha's Vineyard (WSJ)
Bubble Market Stunner: Revenueless Biotech Goes Public, Drops, Trades For Six Days, Then Voids Entire IPOSubmitted by Tyler Durden on 08/12/2014 10:49 -0500
In what is certainly a historic, and quite stunning, market first, not to mention prima facie evidence that Janet Yellen was right about the biotech (and not only) bubble, last week the equity markets experienced something that has not happened in decades: a biotech firm went public, traded for six days, only to announce Friday that it would void its IPO and won't issue shares after all, thanks to a key investor's failure to follow through on a commitment to buy stock. In other words, days after going public, yet another darling of the momo bubble mania du jour, decided to undo everything, and went back to being private (and soon: bankrupt).
Give me Football Season over the Federal Reserve any day of the week in terms of actual ‘boots on the ground’ stimulus.
U.S. Busted Faking Satellite Photographs In Both Iraq Wars
As Ebola spreads mercilessly across the world, it appears Florida has a problem that sounds just as awful. As CBS reports, Florida health officials are warning beachgoers about a seawater bacterium that can invade cuts and scrapes to cause flesh-eating disease. At least 11 Floridians have contracted Vibrio vulnificus so far this year and two have died, according to the most recent state data.
We have been warning for years that as a result of the Fed's disastrous policies, America's middle class is being disintegrated and US adults are surviving only thanks to insurmountable debtloads. But not even we had an appreciation of how serious the problem truly was. We now know, and it is a shocker: according to new research by the Urban Institute, about 77 million Americans have a debt in collections.