At HSBC — whose Swiss arm is the international gold standard for money laundering — Mexican drug cartels and terrorists were once welcomed, but porn site operators will apparently have to take their business elsewhere.
Ask yourself: where do you think this is going? Do you really think your home country will be more free and more prosperous in five years? If not, it’s time to come up with a Plan B...
California is an interesting place. Probably something like California never existed before. A barren state with no substantial natural resources, with cities constructed mostly directly over major fault lines, no water, the highest per capita immigrant population of any US state, and of course, also the state with the highest population per capita of lawyers. "Land of fruits and nuts." or "La La Land" according to the LA Times:
"...the ladder that has supported the move to record high U.S. corporate profit margins is beginning to snap. It may be a long way down."
Explaining the catalysts that move the "market" overnight has become so farcical it is practically an exercise in futility and absurdism.
Economist Steen Jakobsen, Chief Investment Officer of Saxo Bank, believes 2015 will be another "lost year" for the economy. And he predicts the Federal Reserve will indeed start to raise rates later this year, surprising the market and taking the wind of out asset prices. He recommends building cash and waiting to see how the coming storm - which he calls the "greatest margin call in history" - plays out...
"The outlook for Chinese demand, in contrast to optimistic forecasts of producers, is skewed heavily to the downside," BNP says, in a new note warning of further deflationary pressures and protracted weakness in iron ore prices. For those who still think a "hard landing" can still be avoided, look no further for evidence to the contrary.
Many have forecast the creation of a new monetary system by which governments and banks gain total control over all monetary transactions. On the surface of it, this may seem an impossible goal, as it would be so all-encompassing and would eliminate economic freedom entirely. Surely, it would not be tolerated. However, we believe that it’s not only relatively easy to create, but it will be sold in such a way that the public will see it as an absolute panacea to their economic woes. Only those who are far-sighted will understand its level of destruction in advance of its implementation.
If one compares the history of the Chinese and US housing bubbles, one observes that it was when US housing had dropped by about 6% following their all time highs in November 2005, that the US entered a recession. This is precisely where China is now: a 6.1% drop following the all time high peak in January of 2014. If the last US recession is any indication, the Chinese economy is now contracting! So much for hopes of 7% GDP growth this year.
The entire global financial system resembles a colossal spiral of debt. Just about all economic activity involves the flow of credit in some way, and so the only way to have “economic growth” is to introduce even more debt into the system. Unfortunately, any system based on debt is going to break down eventually, and there are signs that it is starting to happen once again.
The science of economics has taken a decidedly wrong turn sometime in the 1930s. In the field of monetary science specifically, sober analysis has given way to broad-based support of central economic planning, with both policy makers and their advisors seemingly trying to trump each other with ever more lunatic proposals.
Extreme optimism - whether in the form of stock valuations, consumer spending, or happiness surveys like the one mentioned below - tends to be followed by corrections; because to get to an extreme point in a data series, extreme behavior is usually required. That is, a lot of really optimistic investment decisions have to be made to push financial markets to cyclical highs, and these kinds of moves tend to exhaust themselves and produce big moves in the other direction. Hence the 2008 low following the 2007 high.
A Full Analysis and Step-by-Step Guide for EU Area Residents To Aid In Escaping the Upcoming Bank Bail-ins & Capital ControlsSubmitted by Reggie Middleton on 04/18/2015 12:21 -0400
This may take you the entire weekend to digest, but if you are an unsecured creditor/lender (have a checking, savings or demand deposit account) to a euro zone bank, I would consider it your fiduciary responsibility to yourself to sit down and parse this piece with care and aplomb!
Central bankers in the U.S., Europe and Asia have created another massive bubble. This time it is a bubble in stocks, bonds and real estate simultaneously. There is no place to hide. But we’d put my money on war, chaos, and revolution. There will be no impunity for our gambling.
Greek FinMin Varoufakis is meeting sovereign debt lawyer Lee Buchheit today, the ‘fairy godmother to finance ministers in distress’... The big questions concern not just the difference between on the one hand, economic issues and on the other, political ones. Syriza doesn’t have the mandate to take Greece out of the eurozone. That is a huge point. But neither does it have the mandate to give in to the troika’s insistence on pensions cuts. At a certain moment, it may come down to what can be explained to the Greek people, and how well it can be explained. This explanation will almost certainly have to come after the fact, since holding a referendum pre-Grexit would carry far too much potential risk of uncontrolled demolition of the entire Greek economy and banking system.