Despite the authorities' best efforts to keep everything orderly, we know how this global Game of Geopolitical Tetris ends: "Players lose a typical game of Tetris when they can no longer keep up with the increasing speed, and the Tetriminos stack up to the top of the playing field. This is commonly referred to as topping out."
"I’m tired of being outraged!"
Are you in better shape financially than you were last Thanksgiving? If so, you should consider yourself to be very fortunate because most Americans are not. As you chow down on turkey, stuffing and cranberry sauce this Thursday, please remember that there are millions of Americans that simply cannot afford to eat such a meal. According to a shocking new report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has reached a new all-time high of 2.5 million. And right now one out of every seven Americans rely on food banks to put food on the table. Yes, life is very good at the moment for Americans at the top end of the income spectrum. The stock market has been soaring and sales of homes worth at last a million dollars are up 16 percent so far this year. But most Americans live in a very different world.
While the media continue to just about exclusively paint a picture of recovery and an improving economy, certainly in the US – Europe and Japan it’s harder to get away with that rosy image -, in ordinary people’s reality a completely different picture is being painted in sweat, blood, agony and despair. Whatever part of the recovery mirage may have a grain of reality in it, it is paid for by something being taken away from people leading real lives.
“Ordinary people are unnerved about how money works in a bottomless cyber space. Gold seems tangible, clear and timeless”
It isn’t just our economy that is crumbling. Something is happening to America that no amount of money will be able to fix. Everywhere around us we can see evidence of the social decay that is systematically eating away at the foundations of our society. It can be found on the streets of our inner cities, in dark basements in extremely rural communities, in the most prestigious boardrooms on Wall Street, and definitely in the halls of power in Washington. Bringing in an entirely different crop of politicians or printing gigantic mountains of money is not going to solve this problem, because it exists in the hearts of millions of ordinary men and women. The truth is that we really need to take a good, long look at ourselves in the mirror...
Greenspan told the CFR that "gold is a good place to put money these days given it's value as a currency outside of the policies conducted by governments." "Gold has always been accepted without reference to any other guarantee." When asked where the price of gold was headed in the next five years he said “higher --- measurably" ...
Reports of individuals snapping up near-record numbers of gold and silver coins are coming in from around the world. While individual buyers aren't the dominant players in precious metals, they do make a difference; and their renewed enthusiasm is matched by some recent national trends. There's no guarantee that this buying, encouraging as it seems, is anything more than a blip; but in the aggregate it does seem like a lot of buyers, old and new, are finding current prices to be attractive. That's how bottoms form and new bull markets begin.
- Apple CEO Cook Goes From Record Sales to IPhone Stumbles (BBG)
- Deal With Saudis Paved Way for Syrian Airstrikes (WSJ)
- Drone delivery: DHL 'parcelcopter' flies to German isle (Reuters)
- Tory Burch Hires Ralph Lauren Veteran as Co-CEO (WSJ)
- Apple releases iOS 8 workaround to fix dropped cell service (Reuters)
- Ukraine Probes Ex-Minister Over $3 Billion Russian Bond (BBG)
- Goldman Sachs-Led Group Near Deal to Buy Messaging Startup Perzo (WSJ)
- U.K. Seeks to Criminalize Manipulation of 7 Benchmarks (BBG)
- Scotland split jitters send sterling to 10-month low (Reuters)
- S&P 500 Beating World Most Since 1969 Doesn’t Spark Flows (BBG)
- Happy ending guaranteed: Vietnam building deterrent against China in disputed seas with submarines (Reuters)
- China Posts Record Surplus as Exports-Imports Diverge (Bloomberg)
- Russia, U.S. to hold talks on 1987 arms accord (Reuters)
- Halcon’s Wilson Drills More Debt Than Oil in Shale Bet (BBG)
- Deadly Disappointment Awaits at Ebola Clinics Due to Lack of Space (WSJ)
- Latinos furious at Obama on immigration delay, vow more pressure (Reuters)
- Japan GDP Shrinks at Fastest Pace in More Than Five Years (WSJ)
U.S. District Judge Carl Barbier in New Orleans ruled today that BP was "grossly negligent" in the 2010 Deepwater Horizon rig explosion and may face up to $18 billion in civil penalties, according to The WSJ. In addition, Transocean and Halliburton were found 'negligent' - a lessor offense - (fines up to $1,100 per barrel for 'negligence', $4,300 for 'gross negligence'). This result comes 2 years after BP agreed to accept criminal responsibility for the disaster and to pay $4.5 billion in fines and restitution. BP quickly issued a statement that it will appeal the decision and believes the findings "are not supported by evidence at trial."
Ferguson Protesters Refuse To Leave As Midnight Curfew Passes; Police In Riot Gear Present: Live FeedsSubmitted by Tyler Durden on 08/16/2014 22:56 -0500
As reported earlier, the governor of Missouri announced earlier his afternoon that starting midnight, a curfew will be imposed on Ferguson until 5 am as part of the state of emergency unviled by the governor. The only problem is that with about an hour to go, the protesters have filled the streets and are refusing to disperse, even as police in riot gear is present and roadblocks have been setup. So will this be another violent night, this time with mass arrests, as the Ferguson population violates the governor's curfew, or will everyone manage to get along? Track the events in real time as they are about to unfold with these three live feeds.
The gold price manipulation scheme will go down as the biggest financial market scandal in US history for numerous reasons. They include the destruction of the free market system in the United States.
For an administration in its sixth year, juggling presidential optics is nothing new. And with some rare exceptions, the public relations team around the president has remained consistently stubborn about refusing to let the never-ending stream of political, economic or international crises affect Mr. Obama’s daily schedule. The current myriad incidents are no exceptions: Moments after making a grim statement about Ukraine on Friday, the president popped into the East Room, where the first lady, Michelle Obama, was holding a mock state dinner for children to promote her Let’s Move nutrition initiative. “My big thing,” he confessed to the kids, “chips and guacamole!” There was plenty of laughter all around.
- Ukraine Says Malaysian Airliner Shot Down Near Russian Border (BBG)
- Downing of airliner seen as pivotal moment in Ukraine crisis (Reuters)
- Malaysian Air Flight Took Route Avoided by Qantas, Asiana (BBG)
- Russian-Made Missile Hit Malaysia Jet, U.S. Officials Say (BBG)
- Netanyahu Orders Military to Ready Wider Gaza Incursion (BBG)
- Silvio Berlusconi Underage Sex Conviction Overturned (WSJ)
- But... but... "economic patriotism" - AbbVie to Buy Shire for $54.8 Billion as Drug Deals Surge (BBG)
- SEC targets 10 firms in high frequency trading probe - SEC document (Reuters)
- Art bubble pop: Sotheby's to Lay Off 'Modest' Number of Employees (WSJ)
- Moar Abenomics: Hermes Sales Trail Estimates as Japanese Revenue Declines (BBG)
Former New Orleans Mayor Ray Nagin was sentenced to 10 years in prison for bribery, money laundering and other corruption that spanned his two terms as mayor--including the chaotic years after Hurricane Katrina hit in 2005. Mr. Nagin was convicted Feb. 12 of accepting hundreds of thousands of dollars from businessmen who wanted work from the city or Mr. Nagin's support for various projects. The bribes came in the form of money, free vacations and truckloads of free granite for his family business. The 58-year-old Democrat had defiantly denied any wrongdoing after his 2013 indictment and during his February trial.