While we are sure President Obama will find a way to comment on today's jobs number (focusing on the unemployment rate we suspect and not the quality of jobs or record number of people out of work), his main topic of discussion is how wonderful the ultra-secret "Trans-Pacific Partnership" deal is for Americans... and why congress must pass it asap.
"If you want to hear the details of the Trans-Pacific Partnership trade deal the Obama administration is hoping to pass, you’ve got to be a member of Congress, and you’ve got to go to classified briefings and leave your staff and cellphone at the door. If you’re a member who wants to read the text, you’ve got to go to a room in the basement of the Capitol Visitor Center and be handed it one section at a time, watched over as you read, and forced to hand over any notes you make before leaving. And no matter what, you can’t discuss the details of what you’ve read."
"I am not very optimistic about the fate of mankind as while our problems tend to evolve in exponential ways, our attempts at solving them move in linear fashion. That is true as much for the problems we ourselves create as it is for those that – seem to – ‘simply happen’. I think it would be very beneficial for us if we were to admit to our limits when it comes to solving large scale issues, because that might change the behavior we exhibit when creating these issues. The human capacity for denial and deceit plays a formidable role in this. We’re simply not smart enough to acknowledge our own limitations. Therefore, as Meadows says: "we are going to evolve through crisis, not through proactive change.""
Americans might be quite surprised to know that even with all the U.S. Government sanctions and threats of war with Russia, America still imports a significant amount of petroleum from the former communist country. How much petroleum does the United States import from Russia? Actually, a lot more when we focus on net imports...
Leak Mead is the largest reservoir in the country when at capacity. On May 2, the water level was down to 1,078.9 feet above sea level, the lowest since it was being filled in May 1937. If the water level is below 1,075 feet elevation – 4 feet below today’s level – by January 1, 2016, it will trigger a federal water emergency... and water rationing.
Quickly looking at the potential market moving events this week, US payrolls on Friday will be the clear focus. In terms of expectations, our US colleagues are expecting a +225k print which matches the current Bloomberg consensus, while they expect the unemployment rate to drop one-tenth to 5.4%. Elsewhere, Thursday’s UK Election will be closely followed while Greece will once again be front and center.
At least one Texas Republican thinks Governor Greg Abbott's move to call in the Texas Guard to monitor US military drills in the state is outright preposterous. "Let me apologize in advance that your letter pandering to idiots who believe that US Navy Seals and other US military personnel are somehow a threat to be watched has left me livid." It only gets better from there... "
"The War on Cash is the attempt by governments to phase cash out of their economies. Governments hate cash because they hate the financial privacy cash makes possible. And they prefer that you keep your money in a bank to help prop up an unsound fractional reserve banking system." As Ron Paul warned, “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.”
Hookers for Brazilians, and MiGs for Russians... what cost is your country obsessed with?
The story of Jade Helm — the name for the upcoming military exercises in Texas, California, Arizona, Utah, New Mexico, Colorado, and Nevada — has taken a decisive turn for the absurd as Texas Governor Greg Abbott has now called on the Texas Guard to (literally) monitor military drills conducted by US special forces after local residents suggested the exercises could be the precursor to a federal invasion of Texas. Only in America.
Recently, France decided to crack down on those people who make cash payments and withdrawals and who hold small bank accounts. The reason given was, not surprisingly, to “fight terrorism,” the handy catchall justification for any new restriction governments wish to impose on their citizens. French Finance Minister Michel Sapin stated at the time, “[T]errorism feeds on fraud, money laundering, and petty trafficking." What we are witnessing is the creation of totalitarian control of your finances. The implication that you may have some sort of terrorist involvement is a smokescreen.
The day after the crash (and thereafter), what will be the currency that is used to buy a bag of groceries, a tank of petrol, a meal at a restaurant? Certainly, the need will be immediate and will be on a national level in each impacted country, affecting everyone. Many believe the US will be prepared ahead of time with a new, electronic currency - US citizens will then become the most economically controlled people in the world, overnight. A further possibility is taking place in Mexico today. Mexico is remonetising silver. As the Great Unravelling proceeds, we would be wise to monitor what happens with the Libertad in Mexico and watch for a similar return to precious metals in other jurisdictions.
We live in a world with limits, yet our economy needs growth. How can we expect this scenario to play out?
USA USA USA #15? Despite aerial bombardment, growing tensions with every neighbor, and the almost ubiquitous daily car-bombs, Israelis are "happier" than Americans according to Bloomberg's world happiness index. Happiness, it appears, is most abundant a long way from the equator with Switzerland, Iceland, Denmark, Norway, and Canada all topping the list; whereas the unhappiest nations are all in Saharan or sub-Saharan Africa (apart from war-torn Syria and Afghanistan).
They’ve become sitting ducks, in a market that is "in extreme overvaluation."