• Marc To Market
    10/03/2015 - 09:57
    The poor jobs report weighed on the dollar, but the greenback recovered as the session progressed.  It is not clear the jobs report was a game changer.  Stay tuned.  


Tyler Durden's picture

"I Pay $271 A Month To Schools And I Don't Have Kids": Illinois Bureaucracy Sucks Homeowners Dry

Reuters has taken an in depth look at Illinois' sprawling bureaucracy and discovered that the state "is home to nearly 8,500 local government units" which helps to explain why "the average homeowner pays taxes to six layers of government, and in Wauconda and many other places a lot more." The story also sheds quite a bit of light on why the state's fiscal crisis may ultimately prove to be intractable. 

Tyler Durden's picture

Are We Being Forced Into A "Second American Civil War"… If So, Who Will Win?

A report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis. The report from the War College’s Strategic Studies Institute warns that the U.S. military must prepare for a “violent, strategic dislocation inside the United States” that could be provoked by “unforeseen economic collapse” or “loss of functioning political and legal order.” [The report also warns of a possible “rapid dissolution of public order in all or significant parts of the US.”]

Tyler Durden's picture

Should You Buy A House?

"By stepping back and looking at the big picture, we can see that real estate should be correcting and trending down.  The reasons why our grandparents bought their homes have changed.  Government intervention cannot last forever.  It will change from accommodation to devastation, when they finally run out of ideas. As for buying a house, I would consider it more of a luxury as opposed to an investment, and one has to be prepared for the possibility of it being a depreciating asset, especially if one decides to move."

Tyler Durden's picture

In Key Decision, Junk-Rated Chicago's Pension Reform Bid Ruled Unconstitutional

On Thursday, we previewed a critical court ruling involving Chicago mayor Rahm Emanuel’s effort to cut pension expenses and plug a yawning budget gap. As expected, Emanuel’s plan was determined to be unconstitutional by Rita M. Novak of the Cook County Circuit Court, further imperling the junk-rated city's financial future and perpetuating a pension ponzi scheme.

Tyler Durden's picture

PIMCO "Sees Long-Term Value" In Chicago's "Junk" Ahead Of Key Court Ruling

Junk-rated Chicago is paying nearly 8% to issue debt these days and although the city's fiscal woes are set to persist, some asset managers are taking the plunge ahead of a key court ruling scheduled for Friday.

Tyler Durden's picture

Pension Shocker: Plans Face $2 Trillion Shortfall, Moody's Says

"Moody’s, which in 2013 began using a lower rate than governments do to calculate future liabilities, has estimated that the 25 largest U.S. public pensions alone have $2 trillion less than they need", Bloomberg reports.

Tyler Durden's picture

Peru Sued By Illinois Firm For Unpaid Birdshit Bonds

As Bloomberg reports, "an old debt for Peru has come home to roost..."

Tyler Durden's picture

Immigration Policy Must Be Decentralized

Last month, the United States Supreme Court declined to take up a case involving Arizona’s and Kansas’s attempts to require proof of citizenship to vote in federal elections. The refusal of the Supreme Court to hear the case yet again sends a message to state and local governments that the federal government shall continue to centrally direct election and immigration law. The net effect is an imposition of a migrant subsidy scheme across all states regardless of the local economic and demographic realities, while ignoring the fact that residents of certain states bear a greater tax burden in subsidizing migrants.

Tyler Durden's picture

Obamacare Sticker Shock Arrives: Insurance Premiums To Soar 20-40%

Health insurance companies around the country are seeking rate increases of 20 percent to 40 percent or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected.

Tyler Durden's picture

The Emergence Of Orwellian Newspeak And The Death Of Free Speech

How do you change the way people think? You start by changing the words they use.

Tyler Durden's picture

FBI's McCarthy-esque Files Expose Obama Advisor Jarrett's Communist Roots

Echoing the era of McCarthyism, Federal Bureau of Investigation (FBI) files obtained by Judicial Watch reveal that the dad, maternal grandpa and father-in-law of President Obama’s trusted senior advisor, Valerie Jarrett, were hardcore Communists under investigation by the U.S. government.

Tyler Durden's picture

Cities, States Shun Moody's For Blowing The Whistle On Pension Liabilities

In the wake of the Chicago downgrade, state and local governments are moving away from Moody's as the ratings agency questions pension fund return assumptions. 

GoldCore's picture

U.S. State Finances – Lack “Truth and Integrity” – Volcker Warns

The highly regarded former chairman of the Federal Reserve, Paul Volcker, has severely criticized the State Governments in the U.S. over “faulty practices” used to devise budgets which mask the true financial position of those states.

Tyler Durden's picture

Kansas Poor Tax A Reflection Of Nationwide Fiscal Crisis

"Kansas is in trouble. After slashing income taxes in 2012, the state faces a revenue gap of more than $400 million. Republican Governor Sam Brownback and state legislators are debating how to make up the shortfall. So far they’ve agreed on one way to control how state money is spent. Starting in July, people on the dole will be limited to a single ATM withdrawal of no more than $25 per day," Bloomberg says, adding that "Kansas is among several Republican-controlled states that have recently cut or limited public-assistance funds."

Tyler Durden's picture

Republican Election Strategy: Blame The Putin "Boogeyman"

As Republican presidential hopefuls ramp up their campaigns, GOP candidates will likely point to Vladimir Putin as the embodiment of everything that’s wrong with Democrats’ foreign policy and Clinton’s famous “reset” button ceremony in Geneva provides the perfect opportunity for the GOP to tie the presumed Democratic nominee to a failed attempt at reconciliation with America’s Cold War nemesis.

Syndicate content
Do NOT follow this link or you will be banned from the site!