Racketeering

Frontrunning: December 9

  • Futures rise as 'Trump rally' rolls on (Reuters), Oil Advances as European Stocks Extend Gains; Korean Won Slides (BBG)
  • Syrian government forces press attack in east Aleppo (Reuters)
  • Trump: China Will Have to ‘Play by the Rules’ (BBG)
  • Trump’s Cabinet Picks Signal Coming Deregulation Moves (WSJ)
  • Russia’s Military Buildup on the Baltic to Test Trump on NATO (WSJ)
  • OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles (BBG)

The Age Of Disintegration: Political Disunity And Elites At War

The fading elite will render the nation ungovernable rather than concede its power, wealth and global influence. This is the inevitable result of profound political disunity, which arises when the ruling elite has lost the consent of the governed...

What Now? (Opposing The Deep State Of Rackets)

The USA is squandering its vitality trying to maintain a half-assed global empire of supposed interests, economic, ideological, and existential. The financialization of the economy is already playing into its disastrous climax with bond markets tanking all over the planet. What this means is that the long-ignored chickens of risk associated with debt are coming home to roost.

The Establishment Will Get Its "F**K You" No Matter Who Wins

"...I go along with the argument advanced by others that it would probably be better for Hillary to win, because that way the right people (the gang already in power) will be blamed for the descent into the maelstrom and will be expeditiously swept away..."

Martin Armstrong Fears "Significant Rise In Civil Unrest" If Hillary Is Elected

"If Hillary is elected, it will be by rigging the election. Our computer has never been wrong on this score. So if she takes office, this will be the worst administration in history and may very will set in motion the phase transition where capital flees to bonds and we see a significant rise in civil unrest."

Ken Rogoff’s Government Debt Default Plan

Ken Rogoff is by all accounts a brilliant man. The Harvard professor and former IMF chief economist is a chess grandmaster. His thesis committee included current Fed vice-chair Stanley Fischer. But like many survivors of Ivy League hoop jumping, the poor fellow appears to have emerged punch drunk. That’s the only conclusion to be drawn from Rogoff’s new book, The Curse of Cash , which, in effect, proposes a ban on paper currency.

The Signs Of Desperation In A "Twilight Zone Of Ignorance"

Idiocy and mendacity are a bad combo in the affairs of nations, especially in elections. The present case in the USA displays both qualities to near-perfection: on one side, a boorish pseudo-savior in zero command of ideas; on the other side, a wannabe racketeer-in-chief in full command of her instinctive deceit. Trump offers incoherent rhetoric in opposition to the current dismal order of things; Clinton offers empty, pandering rhetoric in defense of that order. Both represent an epic national drive toward political suicide.

Harvard Professor Demands Ban On $20, $50, $100 Bills

Six months since Larry Summers first suggested "it;'s time to kill the $100 bill," and three months after The ECB actually killed the €500 Note, another Harvard 'scholar' is reinvigorating the war on cash. Amid claims that paper money fuels corruption, terrorism, tax evasion, and illegal immigration, Ken Rogoff (ironically of "It's Different This Time" infamy) says the US should get rid of the $100 bill (and $50s and $20s) proposing, in his words, "a 'less-cash' society, not a cashless one, at least for the foreseeable future."