New York Times

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Job = Just Over Broke





If you are fortunate enough to have a job in America today, the phrase "just over broke" probably describes you.  Yes, there are a handful of jobs that certainly pay very well, but most Americans that work for somebody else are just barely making it from month to month.  More than half of all working Americans are living paycheck to paycheck, and more than half of all working Americans make less than $30,000 a year.  Something has gone horribly wrong, and yet our leaders just keep telling us how wonderful our economy is.

 
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The One Question About Ebola That Nobody Can Seem To Answer





How in the world is it possible that more than 170 health workers have been infected by the Ebola virus? That is the one question about Ebola that nobody can seem to answer. The World Health Organization is reporting this as a fact, but no explanation is given as to why this is happening. We are just assured that Ebola “is not airborne” and that getting infected “requires close contact with the bodily fluids of an infected person”. If this is true, then how have more than 170 health workers caught the disease? These workers are dressed head to toe in suits that are specifically designed to prevent the spread of the virus. So how is this happening?

 

 
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Looking For The Spark Of World War 3? Start Here





Gosh, isn’t that what we spent eight years, 4,500 lives, and $1.7 trillion doing? And how did that work out? The Iraq war is just like the US financial system. The people in charge can’t imagine writing off their losses. Which, from the policy standpoint, leaves the USA pounding sand down so many rat holes that there may be no ground left to stand on anywhere.

 
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Obama Wines & Dines Some Of The World's Most Brutal Dictators At US-Africa Summit





Last week's first ever U.S.-Africa summit was a perfect mix of dinner-party diplomacy with some of the world’s most violent and homophobic dictators. As the Daily Mail points out, President Obama had no problem smiling and hobnobbing with a cornucopia of murders and human rights abusers. Just remember this the next time a politician tries to get you enraged about a human rights abuse somewhere. There is always an ulterior motive, because without question, the U.S. only cares about human rights when it is geopolitically or economically advantageous to do so.

 
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US Begins Dropping Humanitarian Supplies In Iraq, It May Also be Dropping Bombs





While we await the latest nationally televized appearance of the teleprompter telling Obama just what the US is doing in Iraq at some point over the next 60 minutes, there are conflicting reports about what may or may not be happening in Iraq right now. On one hand there appears to be confirmation that the US has begun airdropping humanitarian supplies to the thousands trapped in the Iraqi mountains, as we earlier reported would likely happen. On the other hand, the NYT also blasted that the US is now also bombing ISIS targets in Iraq.

 
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Flash Boys' Katsuyama Blasts Back At Ex-CFTC Chilton's "Incorrect Claims"





On July 7, Bart Chilton, a former commissioner of the Commodity Futures Trading Commission, wrote an article about high-frequency trading for the New York Times's DealBook. He argued, in effect, that because high-frequency trading has become so central to the stock market, it must be serving some necessary purpose. This is false...

 
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85 Super Wealthy People Have More Money Than The Poorest 3.5 Billion Combined





The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United Nations, 85 super wealthy people have more money than the poorest 3.5 billion people on the planet combined. Seven out of every ten people on the planet live in countries where the gap between the wealthy and the poor has increased in the last 30 years... And when our fundamentally flawed financial system finally does collapse, it will be the poor that will suffer the worst.

 
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The New York Times' Revenue Since Hiring Paul Krugman





Correlation or causation?

 
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Bonds & Peso Slide As Fernandez Slams Holdouts For "True Aggression Against Argentina"





With hours to go until Argentina's grace period runs out and default occurs, investors are less than frantically selling Argentine bonds and pesos. They are lower but do not appear in full panic mode as we presume investors cling to hope that Argentina folds and pays off the holdouts (though there has been no sign of that so far). ARG 2033 bonds are down 3 points to 81 and the black-market peso is modestly weaker at 13.0 (near its record lows). Argentine CDS tightened modestly (as BofA warns the facts surrounding Argentina’s bond payments continue to be unique and deciding if CDS are triggered could take longer than expected) but 1Y CDS are holding at 4600bps (equivalent) - a 52% probability of default. Paul singer continues to defend himself (and the holdouts) from claims they are "dangerous fundamentalists" hell-bent on making it impossible for foreign sovereigns to restructure their debts.

 
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On Washington's Ukrainian Fiasco: "Who Is The Real Problem Here?"





In just 800 words Pat Buchanan exposes the sheer juvenile delinquency embodied in Washington’s current Ukrainian fiasco.
What motivates Putin seems simple and understandable. He wants the respect due a world power. He sees himself as protector of the Russians left behind in his “near abroad.” He relishes playing Big Power politics. History is full of such men. But what motivates those on our side who seek every opportunity to restart the Cold War? Is it not a desperate desire to appear once again Churchillian, once again heroic, once again relevant, as they saw themselves in the Cold War that ended so long ago? Who is the real problem here?

 

 
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US May Send Military Aid To Ukraine; Accuses Russia Of Violating Nuclear Arms Treaty With ICBM Launch





If the specter of the second cold war descending into outright smoldering status doesn't send the S&P promptly to all time highs, nothing will. Moments ago the White House accused Russia of violating the 1987 missile treaty, in response to a still unspecified ICBM launch, calling the "breach" a "very serious matter." Bloomberg added that at issue was a ground-launched ICBM missile. And just so it is clear that the US is now picked the "escalation" of the prisoner's dilemma,  also moments ago AGP reported that the US is now weighing the risks of aiding Ukraine militarily. Specifically, senior American military officers are discussing the possibility of "providing Ukraine with more precise intelligence that would allow it to target missiles held by pro-Russian forces, US officials said Monday."

 
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