As long as people remain obsessed with false paradigms and faux enemies, the establishment's goal of complete centralized dominance will be predictably attainable. If we change our focus to the internationalists as the true danger instead of playing their game by their rules, then things will become far more interesting...
The Times Of Israel has removed a provocatively-titled blog post after huge blowback, denunciations, and ridicule across social media. The post - "When Genocide Is Permissible" (in full below) - concludes, "Prime Minister Benjamin Netanyahu clearly stated at the outset of this incursion that his objective is to restore a sustainable quiet for the citizens of Israel. We have already established that it is the responsibility of every government to ensure the safety and security of its people. If political leaders and military experts determine that the only way to achieve its goal of sustaining quiet is through genocide is it then permissible to achieve those responsible goals?" Removal or not, we are sure this will do nothing to endear Israel to the world.
During the last 64 months “buying the dips” has been a fabulously successful proposition. So yesterday’s 2% dip will undoubtedly be construed as still another buying opportunity by the well-trained seals and computerized algos which populate the Wall Street casino. But that could be a fatal mistake for one overpowering reason: The radical monetary policy experiment behind this parabolic graph is in the final stages of its appointed path toward self-destruction.
If yesterday's selloff catalysts were largely obvious, if long overdue, in the form of the record collapse of Espirito Santo coupled with the Argentina default, German companies warning vocally about Russian exposure, the ongoing geopolitical escalations, and topped off by a labor costs rising and concerns this can accelerate a hiking cycle, overnight's latest dump, which started in Europe and has carried over into US futures is less easily explained although yet another weak European PMI print across the board probably didn't help. However, one can hardly blame largely unreliable "soft data" for what is rapidly becoming the biggest selloff in months and in reality what the market may be worried about is today's payroll number, due out in 90 minutes, which could lead to big Treasury jitters if it comes above the 230K expected: in fact, today is one of those days when horrible news would surely be great news for the momentum algos. Still, with futures down 0.6% at last check, it is worth noting that Treasurys are barely changed, as the great unrotation from stocks into bonds picks up and hence the great irony of any rate initiated sell off: should rates spike on growth/inflation concern, the concurrent equity selloff will once again push rates lower, and so on ad inf. Ain't central planning grand?
"Although the levitation of financial assets has yet to levitate gold, we will grit our collective teeth on that score and await either 'asset price justice' or the 'end times,' whichever comes first."
There is a growing certainty in the global economic outlook that is deeply alarming. The welfare-driven nations continue to impoverish their people by debauching their currencies. As Japan’s desperate monetary expansion now shows, far from improving her economic outlook, she is moving into a deepening slump, for which this article provides the explanation. Unfortunately we are all on the path to the same destructive process.
While the latest ceasefire between Israel and Hamas will come and go, something far more insidious is taking place in Gaza : as the Daily Beast reports, "The Israeli military, relentlessly and methodically, is driving people out of the 3-kilometer (1.8 mile) buffer zone it says it needs to protect against Hamas rockets and tunnels. According to the United Nations Office for the Coordination of Humanitarian Affairs, the buffer zone eats up about 44 percent of Gaza’s territory."
After an exuberant day in Argentine bond and stock markets, we are nearing a decision. With a handful of hours left until it's all over, various 'deal's have been proposed today from Argentine bankers as a last-minute rescue package. S&P has already decided that it's a done deal:
- *ARGENTINA CUT TO SD FROM CCC- BY S&P
- *ARGENTINA DEFAULTED ON $13B IN FOREIGN DEBT, S&P SAYS
- *ARGENTINA MISSED $539M BOND PAYMENT, S&P SAYS
And now, Argentine Economy Minister Axel Kicillof will speak in a press conference at country’s consulate in Manhattan (ironically a block from the holdouts' office).
The following are six of the most prevalent economic myths that appear time and again in the mainstream media...
To demonstrate it hasn't failed, the Fed must taper/withdraw its monetary heroin. If the stock market tanks as a result, and the Fed rushes to the rescue with more free money for financiers, that will also prove the Fed has failed: if the economy and financial system is as robust as the Fed claims, why does it need to be rescued yet again after six long years of unprecedented injections of monetary heroin? It's a double-bind with no escape. No matter what the Fed chooses to do, the failure of its policies to help households and Main Street while enriching wall Street and the banks will be revealed to all.
"Shocked" White House Slams "Fabrication" After Israel TV Leaks Damning Transcript Of Obama-Netanyahu Phone CallSubmitted by Tyler Durden on 07/29/2014 23:53 -0400
While the US continues to escalate the conflict with Russia in a tit-for-tat recreation of the Cold War, things for US foreign policy just keep going from bad to worse, with the latest insult coming from none other than close US ally, Israel.
Despots, dictators, and power hungry presidents arise in an atmosphere of fear, scarce resources, hopelessness, and misery. As the power of the central government grows; the freedoms, liberties and rights of the people are diminished and ultimately relinquished.
On the heels of UMich confidence tumbling to 4-month lows, the Conference Board's consumer confidence exploded higher to the highest since October 2007. This is the 3rd monthly rise in a row and the biggest beat in 13 months all led by a spike in future expectations to its highest since Feb 2011. The Conference Board proclaims this is due in part to a "brighter outlook for personal income," though reality of falling real hourly wages suggests that is simply false. The last time the conference board confidence diverged this much from UMich confidence was June 2007 and that did not end well...
As most are aware by now, today is the 100th anniversary of the start of World War I - the war which was supposed to end all wars, when in reality, in conjunction with the Federal Reserve - which was created just few shorts months prior - it merely unleashed the most deadly series of wars the world has ever seen. What may be less known is that today's "other" anniversary is perhaps just as momentous, if not (yet) as destructive or GDP boosting: on July 28, 2004 is when America got its first glimpse of a political newcomer few if any had heard of previously. Barack Obama.