“I’m staying conscious. Some people are buying stocks like they’re gambling in Macau," an investor in Hong Kong tells Bloomberg, underscoring what happens when a bubble in one market begins to spill over into another market. We suppose this is further evidence that no one is planning on listening to the China Securities Regulatory Commission, who recently warned that investors “shouldn’t be thinking if they don’t buy now, [they’ll] miss it.”
At this point 15 years ought to count for something. After all, we have now used up one-seventh of this century. So you can’t say its too early to tell what’s going on or to identify the underlying trends. So, after another Jobs Friday: here is the tally: The number of breadwinner jobs in the US economy is still 2 million below where it was when Bill Clinton still had his hands on matters in the Oval Office.
Why QE will never induce consumers to spend and is in fact DE-flationary.
The root of support for the drug war is simply this: trust in government. Unnecessary, irrational, and naive trust in government. The war on drugs is a war on individual liberty, private property, limited government, the Constitution, American taxpayers, personal responsibility, the free market, and a free society that has ruined more lives than drugs themselves. Every facet of government that contributes in some way to the monstrous evil that is the war on drugs should be dismembered, root and branch, and cast to the four winds.
If the government of Australia is concerned that their well-capitalized banking system needs a safety net and wants to tax deposits for such purpose, how in the world can we possibly expect the US and Europe, with all of their banking system risk, won’t do the same?
Blogger Ben’s work is already done. In his very first substantive post as a civilian he gave away all the secrets of the monetary temple. The Bernank actually refuted the case for modern central banking in one blog. The truth is the real world of capitalism is far, far too complex and dynamic to be measured and assessed with the exactitude implied by Bernanke’s gobbledygook. In fact, what his purported necessity for choosing a rate “somewhere” actually involves is the age old problem of socialist calculation.
"The utterances of the Yellen/Zhou duo who kicked off yesterday’s rip make absolutely clear why the central bankers will never stop stimulating. They have embraced a spurious “inflation deficiency” doctrine, and have thereby, in effect, lashed themselves to the wheel of a doomsday machine."
It's a day of ‘master of the universe,’ central bank speeches as both Bank of England governor Mark Carney and Fed chief Janet Yellen preach their ultra loose policies and certain market participants lap up the Gospel according to Mark … and Janet ...
“Government can have no more than two legitimate purposes,” wrote the 18th-century English political philosopher William Godwin, “the suppression of injustice against individuals within the community and the common defense against external invasion.” But the US system of government – nourished by the almost unlimited credit that its money gives it – has swelled to a shape that would have been grotesque and unrecognizable to Godwin. To those who still maintain some romantic attachment to the ideals of the American Revolution, it is merely repulsive.
A wicked web of deceit, with just a good measure of theft and forgery thrown in for old time’s sake!
Currently, a new form of danger arises. The Keynesian pettifoggers at the Fed have painted themselves into an epochal corner. After 78 months of ZIRP they have no idea about how and why they got here; and now, mired deep in the lunacy of free money, they are clueless about where they are going next. There is not a chance the US economy has decoupled from the rest of the world. The great credit-driven boom was universal and fueled by out of control central banks. Now comes the bust phase, and these same money printing central bankers have no clue what to do about it.
"The current market ecosystem is not sustainable, and significant changes are coming one way or another... conflicts of interest among brokers, a two-tier system favoring the speediest and a general sense that today’s rules have been crafted to the benefit of insiders."
That a handful of extraordinarily rich and powerful oligarchs as well as mega-corporations have completely hijacked the American political process is hardy news; but of all the commentary written about Netanyahu’s embarrassing political stunt in front of the U.S. Congress last week, the most important angle was largely overlooked. That is, it sort of represented a coming out party for the American oligarch from behind the curtain.
Greece Proposes To Become A Tax-Collecting Police State: Will "Wire" Tourists And Unleash Them As "Tax Inspectors"Submitted by Tyler Durden on 03/06/2015 15:14 -0400
"We propose the following: that large numbers of non-professional inspectors are hired on a strictly short-term, casual basis (no longer than two months, and without any prospect of being rehired) to pose, after some basic The very 'news' that thousands of casual "onlookers" are everywhere, bearing audio and video recording equipment on behalf of the tax authorities, has the capacity to shift attitudes very quickly, spreading a sense of justice across society and engendering a new tax compliance culture - especially if combined with the appropriate communication of the simple message that the time has come for everyone to share the burden of public services and goods."
- Yanis Varoufakis
So today what is different is not the Wall Street spiel that Nasdaq is anchored by the likes of Apple rather than Webvan. Since the two days of March 9 and 10 in the year 2000 when the Nasdaq closed over the 5,000, the financial markets have been converted into central bank managed gambling halls and the global economy has bloated beyond recognition by 15 years of non-stop financial repression. Back then, a few hundred stocks were wildly over-valued based on monetizing eyeballs; now the entire market is drastically overvalued owing to the false financial market liquidity generated by $14 trillion of central bank asset monetization - mostly public debt - since the turn of the century. As a result, the global financial system and economy are orders of magnitude more fragile and vulnerable to collapse than they were 15 years ago.