• GoldCore
    07/30/2014 - 18:58
    “But long term...and economic law says, if you keep printing a lot of paper money, the value of the dollar and currency will go down, and things and most prices will go up and indeed gold always goes...

Post Office

Tyler Durden's picture

Why The Mainstream Fails To Understand Recessions





The boom is unsustainable. Investment and consumption are higher than they would have been in the absence of monetary intervention. As asset bubbles inflate, yields increase, but so do inflation expectations. To dampen inflation expectations, the Fed withdraws stimulus. As soon as asset prices start to fall, yields on heavily leveraged assets are negative. As asset prices decline, increasingly more investors are underwater. Loan defaults rise as mortgage payments adjust up with rising interest rates. When asset bubbles pop, the boom becomes the bust.

 
Tyler Durden's picture

A Visual Trip Through The World's Mining Ghost Towns





As each of the following seven towns from history around the world boomed on the back of resource-hungry bubbles, no one could have foreseen (or even believed) that it would ever end... but as the following dismal images show - end it did. Is this the future for North Dakota or Texas? or Silicon Valley? (of course not stupid... it's different this time).

 
Tyler Durden's picture

How Britain Calculates Its Hooker "GDP Boost": 60,879 Prostitutes x 25 Clients Per Week x £67.16 Per Visit





First it was Italy which, as we reported last week, had decided to "boost" its GDP by adding the estimated impact of cocaine and hookers. And now, riding on the coattails of this economics gimmick designed solely to make the economy appear more solvent, it is Britain's turn, whose Office for National Statistics will also add add up the "contribution" made by prostitutes and drug dealers. According to the Guardian "for the first time official statisticians are measuring the value to the UK economy of sex work and drug dealing – and they have discovered these unsavoury hidden-economy trades make roughly the same contribution as farming – and only slightly less than book and newspaper publishers added together."

 
Tim Knight from Slope of Hope's picture

Uncovered California





So instead of one wholly integrated federal health care system, we have something like 30 disparate systems, all of them expensive, and none of them perfect. Indeed, "not perfect" is an absurd understatement, roughly equal to Oprah being "not petite." Allow me to offer my own personal example.

 
Tyler Durden's picture

David Stockman's "Born Again Jobs Scam": The Ugly Truth Behind "Jobs Friday"





The mainstream recovery narrative has an astounding “recency bias”. According to all the CNBC talking heads, the 192,000 NFP jobs gain reported on Friday constituted another “strong” report card. Well, let’s see. Approximately 75 months ago (December 2007) at the cyclical peak before the so-called Great Recession, the BLS reported 138.4 million NFP jobs. When the hosanna chorus broke into song last Friday, the reported figure was 137.9 million NFP jobs. By the lights of old-fashioned subtraction, therefore, we are still 500k jobs short—notwithstanding $3.5 trillion of money printing in the interim. The truth is, all the ballyhooed “new jobs” celebrated on bubblevision month-after-month have actually been “born again” jobs. That is, jobs which were created during the Fed’s 2002-2007 bubble inflation; lost in the aftermath of the September 2008 meltdown; and then “recovered” during the renewed bubble inflation now underway.

 
Tyler Durden's picture

Banks Are Obsolete: The Entire Parasitic Sector Can Be Eliminated





Once we get rid of these obsolete middleman parasites - Wall Street, the banking sector and the Federal Reserve - we have a delightful question to answer: what else can we do with the $1.25 trillion we'll save every year by eliminating these obsolete financial middleman parasites? A lot.

 
Tyler Durden's picture

Physical Gold Demand Soared As Gold Price Tumbled In 2013





Sales of gold coins are booming even as the precious metal's price is falling (and it's not just central banks). Despite gold futures 28% drop in 2013 (its worst since 1981), the WSJ reports that demand for gold coins shot up 63% to 241.6 metric tons in the first three quarters of 2013.

 
Tyler Durden's picture

Thanksgiving Frontrunning And Market Summary





  • The second coming of Obamacare website - will it work? (Reuters)
  • Winter Storm Moves North as Macy’s Waits to Make Parade Call (BBG)
  • Eyeing holiday sales, more U.S. retailers to open on Thanksgiving (Reuters)
  • It's all Verizon's fault: H-P Will Replace Verizon in Hosting HealthCare.gov Website (WSJ)
  • Bitcoin Service Targets Kenya Remittances With Cut-Rate Fees (BBG)
  • Embattled Thai PM easily survives no-confidence vote, protests persist (Reuters)
  • For U.S. stores it is ugly out there: in more ways than one (Reuters)
  • Japan and S Korea military flout China air zone rules (FT)
  • UBS Restructuring Forex Unit (WSJ)
  • Trader Messages Scrutinized as UBS Bans Chats Among Firms (BBG)
  • ECB warns on external risks to eurozone financial system (FT)
 
smartknowledgeu's picture

Thai Capital Plagued By the Biggest Anti-Government Protests in Years





More than 100,000 protesters congregated at Democracy Monument in Bangkok yesterday to protest Thai PM Yingluck Shiniwatra’s consideration of an amnesty bill to pardon her banned brother Thaksin Shiniwatra, the former Thai PM ousted from the country in a 2006 coup.

 

 

 

 
Tyler Durden's picture

The Obamacare "Glitch" Explained In 25 Quotes





While some have proclaimed the 36,000 enrollment in The Affordable Care Act "a good start," the online marketplaces that Obamacare has become more infamous for have been plagued with problems in the brief two weeks since launch. Politico provides 25 of the most telling and colorful comments made about the "glitches" the online exchanges have faced...

 
Tyler Durden's picture

Born Libertarian: Doug Casey On Ron Paul And The Price Of Freedom





Doug Casey first met Ron Paul 30 years ago. In this wide-ranging interview, Casey discusses how the "born libertarian's" ideas have changed in that time...

 
Tyler Durden's picture

What Are The Unintended Consequences Of A Government Shutdown?





BofA's breakdown: "The shutdown will likely add to the budget deficit. It is costly to stop and start programs. The 1995-96 shutdown directly added $1.4 bn to the deficit (about $2.5 bn in today’s dollars) Moreover, the shock to growth will undercut tax revenues. In addition, ironically it does not impact the implementation of Obamacare since it is an entitlement similar to Medicare. However, there is some chance it could delay US economic data releases: in 1996, the December employment report was delayed two weeks as a result of the shutdown then. The Federal Reserve and the Post Office, both of which do not depend on Congressional appropriations, will not see any cutbacks due to a shutdown."

 
Tyler Durden's picture

20 Ordinary Americans Take About Their Economic Despair





Yesterday we highlighted the plight of Tom Palome and his cohorts as they face a need to work well into once-thought-retirement age. However, there are hundreds of formerly prosperous communities all over America that are being steadily transformed into rotting, decaying hellholes. The good paying middle class jobs that once supported those communities are long gone, and they have been replaced with low paying service jobs if they have been replaced at all. When you visit those communities, it is almost as if all of the hope has been sucked right out of the air. The following are 20 quotes from ordinary Americans about the economic despair that is rapidly growing around them.

 
testosteronepit's picture

Mostly Cloudy With Occasional Drones In The Afternoon





Privacy has been traded in for corporate profits, governmental controls, spookily personalized ads, and harebrained hype about increased security

 
Tyler Durden's picture

Package Supposedly Containing VX Nerve Gas Found At JFK Airport





With the NSA already combing through and recording every form of electronic communication (or 1.6% of all global internet traffic to be precise), it was only a matter of time before a scare involving plain vanilla physical mail took place. Such as what just happened at JFK airport at 9 am this morning, when as ABC reports (with a substantial delay) that "Two postal inspectors at JFK Airport were sickened Sunday after opening a package at a postal processing facility. Field tests showed an initial finding of nerve gas, though authorities believe it's a low likelihood that it's actually nerve gas. It is more likely a standard-use chemical that shouldn't have been in the mail like a solvent or degreaser. The FBI was called in and additional testing is underway. The condition of the customs agents is not yet known."

 
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