Everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that’s all rejected in favor of a rentier class evolving into an oligarchy. Financiers in the 1% are going to pry away the public domain from the government and privatize it so that they get all of the revenue for themselves. It’s all sucked up to the top of the pyramid, impoverishing the 99%. “As long as you can avoid studying economics, you know what’s happened. Once you take an economics course you step into the brainwashing of an Orwellian world.”
"The riskiest things are now stocks and other investments perceived to be safe. One of the most popular categories in US investing are low volatility stock funds. But there is no such thing! If you think that a stock like Johnson & Johnson can’t go down, you’re wrong.. If you are waiting for the confirmation of a recession before taking actions to protect your investment portfolio, it will likely be far too late.”
After warning last year of a "practically unavoidable" hard-landing to come in China, George Soros unleashed his central-planner-crushing self last night on the great red ponzi. As we noted last night, Soros warned the "parabolic" rise in credit is very worrisome, and "eerily reminiscent of US in 2007-8," specifically adding that "most of the money that banks are supplying is needed to keep bad debts and loss-making enterprises alive." Soros' full discussion can be found below...
One day after stocks were this close from hitting new all time highs on what have been either ok earnings, if looking at non-GAAP data, or atrocious earnings, based on GAAP, and where any oil headline is now immediately translated as bullish by the oil algos, so far futures are relatively flat, while European stocks were at their moments ago in anticipation of the latest ECB announcement due out in just one hour. However, unlike last month's "quad-bazooka", this time the market expects far less from Draghi. “Having pulled put the monetary bazooka in March, the market is sensibly expecting no further policy measures from the ECB,”
China's massive credit growth in March (and $1 trillion surge in total social financing in Q1) is a "warning sign" according to billionaire George Soros, "because it shows how much work is needed to stop the slowdown." Speaking at an event in new York this evening, Soros commented on "troubling developments" in China, the anti-corruption drive's impact on capital outflows and the real-estate bubble "feeding on itself." His conclusion, rather ominously, was that despite all the naysayers and fiction-peddlers, China "resembles US in 2007-8," before credit markets seized up and spurred a global recession.
Amid the growing ghetto-isation of Muslim Europe, and with 66% of Germans against Merkel, German police have arrested five suspects on terrorism charges in raids on a right-wing group charged with attacking asylum shelters in the east of the country in the midst of Europe’s refugee crisis. German officials have proclaimed the raids show that "the state is moving resolutely and in a timely fashion against right-wing terrorist structures and criminals." We suspect sadly that more attacks, and more arrests are to come as George Soros calls for Europe to accept 500,000 more refugees per year.
In late January, when George Soros was interviewed in Davos, he revealed what may have been his most bearish outlook yet. That may have cost the aging billionaire. According to Bloomberg, two of the key portfolio managers working at Soros' family office, David Rogers and Joshua Donfeld, are leaving the firm over disagreements with its new chief investment officer about the direction of global markets, according to people with knowledge of the matter.
In an effort to slow Syrian, Afghan, and Iraqi migrants traveling to Europe, many countries are now implementing border controls, a decision that could prove to have significant negative consequences for Europe's economy. As Bloomberg notes, the open border economy supports more than 400 million people, with 24 million business trips, and 57 million cross-border freight transfers happening every single year. Research by the Bertelsmann Foundation asserts that a permanent return to border controls could cost $530 billion of GDP growth from the European economy over the next decade.
The asylum policy that emerged from last month’s EU-Turkey negotiations has four fundamental flaws, according to Billionaire puppet-master George Soros, which combined pose an "existential threat to Europe." His solution is 'simple' - Accept 500,000 refugees per year costing $34 billion year (via "surge" funding through more borrowing, and a newly-created refugee crisis fund from increased VAT on member states) or else, in his words, "the European Union is in mortal danger?"
As our empire erodes, and overseas tyranny evolves into full moral meltdown at home, and the economy becomes a series of bubbles, the sociopaths in charge resort to more inventive and draconian measures. Trump is neither the solution nor the answer but more like another symptom. A long simmering effect of a longer lingering cause. The cause and effect of bad governance, of corruption without any consequences.
"Unprecedented Leak" Exposes The Criminal Financial Dealings Of Some Of The World's Wealthiest PeopleSubmitted by Tyler Durden on 04/03/2016 22:35 -0400
An unprecedented leak of more than 11 million documents has revealed the hidden financial dealings of some of the world's wealthiest people, as well as 12 current and former world leaders and 128 more politicians and public officials around the world. The data allows a never-before-seen view inside the offshore world — providing a day-to-day, decade-by-decade look at how dark money flows through the global financial system, breeding crime and stripping national treasuries of tax revenues.
A European Union military force with power to intervene in member states. A new “Marshall Plan” to radically redesign whole regions of the world and impose regional government. A United Nations empowered to manage it all. Christendom under siege. And the end of nationhood as it is understood today. That is where the “refugee crisis” is heading, as the engineered disaster wreaks havoc across Europe and beyond. Despite the appearance of chaos, though, it is all by design, with a series of radical goals in mind.
They are so opposed to it that there has to be something wrong with the story...
Whatever one may think of Donald Trump, his campaign has done us a service - exposing the underbelly of a decaying establishment whose repudiation by America’s silent majority is long overdue.