The Dallas Police and Fire Pension is declaring "victory" over a modest $2mm settlement from its former real estate investment advisor, CDK Realty, as one city council member blasted the award saying he was “shocked CDK got off the hook for a mere $2 million considering the amount of fees they bilked out of the system over the past decade.”
"No matter what the economic leaders say, these actions prove to me and many others that their mental models of the world have failed. They’re able to hide behind authority and academic vocabulary which if put in plain terms for the lay person could be described as theft, ponzi, tyrannical and moronic."
Population growth, economic growth, and resultant energy consumption are inexorably slowing. The Federal Reserve knows it can not stop this and is simply slowing the inevitable with interest rate cuts to incent greater consumption via skyrocketing credit/debt...
"All of the fund’s asset classes generated positive returns, but it was the strong equity return in the second half of the year that drove the fund’s results. After the presidential election in the U.S., markets priced in higher growth and inflation in the global economy."
"Dear President Trump, can you stand up to the orthodoxy that’s robbed the business cycle of its very cyclicality? Are you man enough to populate the Fed with leaders who are so strong there’s no need to audit the out-of-control institution?"
Debt in China has increased dramatically in recent years, accounting for roughly one-half of all new credit created globally since 2005. The country’s share of total global credit is nearly 25%, up from 5% ten years ago.
The biggest banks on Wall Street, both foreign and domestic, have been repeatedly charged with rigging and colluding in markets from New York to London to Japan. Thus, it is natural to ask, have the big banks formed a cartel to rig the prices of their own stocks?
Housing bubbles are showing signs of bursting all over the world and are particularly evident in the US, Canada and Australia. With bubbles now at the peak of popping in several parts of the world, the coming collapse could make the US crash of 2007-2009 look like a warm-up act.