Meltdown

How The "Rest" Of America Lives: Wanting For Work, Buried In Debt

The flyover zones of America are wanting for work and buried in debt. That’s the legacy of three decades of Washington/Wall Street Bubble Finance. The latter has exported jobs, crushed the purchasing power of main street wages and showered the bicoastal elites with the windfalls of financialization. In short, Wall Street loves financial repression because it inflates financial asset values and fuels debt-funded gambling in the casinos. But it’s the opposite of what’s needed in flyover America.

What A 'Carve-Up' - Economists Fake-Panic Over Brexit

Carve-up, n. “An act or instance of dishonestly prearranging the result of a competition.” Just two hours before it was barred from issuing any more fatuous propaganda about Brexit, the UK Treasury last week managed to surpass themselves...

Hedge Fund Billionaire Slams Democracy, Says The "Tyranny Of The Majority Is An Unhealthy Development"

In his latest letter to investors, OakTree Capital's Howard Marks goes political (slamming Trump's tariffs and Bernie's minimum wage machinations), shedding some blinding light on the economic reality of America, the dismal failure (and increasing impotence) of central bankers, and the ongoing "tryanny of the majority" warning that if everyone wants to tax-the-rich, soon there will be no rich to tax. As he concludes, short-term fixes simply cannot create wealth out of thin air (see Venezuela), as Churchill once said "for a nation to try to tax [or stimulate or devalue] itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle."

Losing Ground In Flyover America

The Fed’s paint-by-the-numbers Keynesian incrementalism leaves it blind to the underlying rot in the US economy and to drastically over-estimate its capacity to maintain a stable growth equilibrium. In fact, corporate America is being strip-mined by Fed-fueled financial engineering and flyover America is sinking irretrievably into debt, dependency and shrinking living standards.

Warning Signs Everywhere

You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in the markets.”

We're In The Eye Of A Global Financial Hurricane

The global financial system is in the eye of an unprecedented hurricane. While central bankers are congratulating themselves on their god-like mastery of Nature, and secretly praying to the idols of the Keynesian Cargo Cult every night, the inevitable consequence of borrowing from the future, the obsession with "growth" at any cost and financialization /monetary stimulus, a.k.a. the rich get richer thanks to central banks is systemic collapse.

Democratic Party Warns Sanders Supporters May "Instigate Actual Violence" At Convention

While Hillary continues to remind everyone that her nomination is a "done deal", supporters of Bernie Sanders refuse to go quietly into the night.  Bernie's supporters put so much pressure on establishment Senator Barbara Boxer that she suffered an unfortunate meltdown in Nevada recently; they plan to do the same at the Democratic National Convention in July as well. As a result, the Nevada State Democratic Party has warned that the demonstrations may be used to instigate "actual violence."

"He's Burning Down The House" - Clinton Campaign Furious At Sanders Insistence On Democracy

"This is the worst case scenario, and the one people feared the most. Unfortunately he's choosing the path of burning down the house. He continues with character attacks against Hillary. He continues with calling the Democratic party corrupt, and he not only risks damaging Hillary Clinton and the Democratic party but he's currently donig it." said a Clinton ally according to The Hill. With almost every national and state poll showing Sen. Sanders doing much, much better than Secretary Clinton against Donald Trump, it is clear that millions of Americans have growing doubts about the Clinton campaign.

Trump Gains Ground On Hillary As Democratic Infighting Takes Its Toll

While all Hillary wants to do (aside from staying out of jail) is rid herself of Bernie Sanders so the campaign can turn its attention to Trump, Sanders doesn't appear to be ready for any of that just yet. According to The Hill, Sanders released a statement Tuesday in response to criticism of his supporters' behavior in Nevada calling the charges "nonsense", adding that the party either needs to embrace "people who are prepared to fight for real economic and social change, or choose to maintain its status quo structure and remain dependent on big-money campaign contributions."