One of the great ironies of American politics is that most politicians who talk about helping the middle class support policies that, by expanding the welfare-warfare state, are harmful to middle-class Americans. Eliminating the welfare-warfare state would benefit middle-class Americans by freeing them from exorbitant federal taxes, including the Federal Reserve’s inflation tax.
It appears as though Hillary Clinton may be witnessing her “Geithner moment,” because as Reuters reports, several Clinton family charities will now refile a half decade worth of returns after failing to report “tens of millions” in contributions from foreign governments.
No sector will be immune to the changing nature of work and value creation. The only sustainable way to avoid upheaval is to learn to create value in ways that cannot be commoditized.
The propagandistic American “media” and the crazed neoconservatives have set humanity on the path to destruction. The American people and the entire world need to understand that the threat to life on earth resides in Washington and that until Washington is fundamentally and totally changed, this threat will remain as the worse threat to life on earth. Global Warming can disappear instantly in Nuclear Winter.
The fairy dust peddlers who moonlight as Wall Street economists were out in force yesterday after March retail sales came in with a positive m/m change for the first time since November. This purportedly confirms that we’re back on track for a big rebound in Q2. In any event, what happens next is not too hard to figure. Unless you are a Wall Street economist.
One Is a NeoCon Warmongering Crook ... The Other Is a NeoLib Warmongering Crook. See?? Totally Different!!!
This will make every American feel much better about handing over that check today... as Simon Black notes today "I believe we have an obligation to starve the beast..."
- China growth slowest in six years, more stimulus expected soon (Reuters)
- EU charges Google over shopping searches, to probe Android (Reuters)
- A Chinese Paradox: Slow Growth Is Good, Stock Bubbles Welcome (BBG)
- Draghi Seen Dispelling Duration Doubts About QE Program (BBG)
- IEA Sees OPEC Supply Jumping Most in Four Years on Saudi Surge (BBG)
- SEC Reaches Settlement with Former Freddie Mac (WSJ)
- Kerry says confident Obama can get final deal on Iran (Reuters)
- Regulators Call for Short-Term Loan Changes to Handle ‘Too-Big-to-Fail’ (WSJ)
- Florida Doctor Linked to Sen. Robert Menendez Indicted for Medicare Fraud (WSJ)
Hillary rose to fame delivering an idealistic commencement address at the beginning of her career. But like the generation she represents, she has betrayed those grand ideals over a lifetime of compromise, expediency, self-promotion and complacent acquisition of power, wealth and fame. She doesn’t deserve another stint at the podium - let alone the bully pulpit.
The only surefire way to dramatically reduce healthcare costs is to remove the middlemen and allow market forces to return to healthcare.
Stan Druckenmiller's "Horrific Sense" Of Deja Vu: "I Know It's Tempting To Invest, But This Will End Very Badly"Submitted by Tyler Durden on 04/12/2015 18:45 -0500
“I just have the same horrific sense I had" before, Druckenmiller said to an audience at the Lost Tree Club in North Palm Beach, Florida (according to a transcript obtained by Bloomberg). "Our monetary policy is so much more reckless and so much more aggressively pushing the people in this room and everybody else out the risk curve that we’re doubling down on the same policy that really put us there."
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?
If America is the Land of Opportunity, why are so many parents worried that their princeling/princess might not get into the "right" pre-school, i.e. the first rung on the ladder to the Ivy League-issued "ticket to the upper middle class"? The obsessive focus on getting your kids into the "right" pre-school, kindergarten and prep school to grease the path to the Ivy League suggests there aren't as many slots open as we're led to believe.
- Google's new CFO to make $70 million (WSJ)
- Senate passes Republican budget with deep safety net cuts (Reuters)
- With Yemen strikes, Saudis show growing independence from U.S. (Reuters)
- Banks Slash Dividends as Loans Sour From Beijing To Pearl River (BBG)
- North American Railroads Caught by Speed of Crude-Oil Collapse (BBG)
- Japan’s Zero Inflation a Setback for Abenomics (WSJ)
- Cooperman Says U.S. Seeks Information About Omega Trades (BBG)
After a few days of dollar weakness due to concerns that the Fed's rate hike intentions have been derailed following some undisputedly ugly economic data (perhaps the Fed should just make it clear there will never be rate hikes during the winter ever again) the USD has resumed its rise, and as a result risk assets, after surging early in the overnight session driven by the Nikkei225 and the Emini, the "strong dollar is bad for risk" trade has re-emerged, with the Nikkei dropping almost 500 points off its intraday highs, with US equity futures poised to open lower once more, sliding nearly 20 points in the overnight session, and surprising the BTFDers who have not seen five consecutive days of "risk-off" in a long time.