Reality

A Homeless Harvard Graduate In The Schizophrenic Job Market

The BLS continues to perpetuate the distraction officially known as the "unemployment rate" to hide the grim reality portrayed by the labor force participation rate, which shows the true decline of employment in America. The labor force participation rate of college graduates has never been lower. In the new normal, McDonald's has a lower acceptance rate than Ivy League schools. Just when you thought you had seen everything, a new story emerges: Alfred Postell has three degrees - accounting, economics, and law - but he is unemployed and homeless.

Iran Deal Done - "Stunning, Historic Mistake" Or "Profoundly Positive Change"

While slightly later than expected, a comprehensive deal on Iran’s nuclear weapons program has now been reached. As Reuters reports, the agreement will be greeted with alarm in several quarters, both in Washington and Tehran and internationally too, and could yet unravel. Internationally, the deal will accelerate unease in some Arab states, including Saudi Arabia, but it is Israeli Prime Minister Benjamin Netanyahu who remains the fiercest public critic and has issued a warning that the accord will "inevitably lead to a nuclear war." The deal profoundly changes the balance of power in the region, but averts the conflict that was likely otherwise, but as ECStrat notes, Iran offers exceptional investment opportunities, but the near term impact will be to continue oil’s decline back to its lows, potentially taking energy stocks with it.

World Powers Reach Landmark Nuclear Deal With Iran, Oil Slides - Full Deal Text

It is only fitting that almost exactly 24 hours after the Greek "pre-deal", which may and will end up crashing and burning in very short notice, another long expected "deal", one which has been about a decade in the making, was reached, when Iran reached a landmark nuclear agreement with the U.S. and five other world powers, a long-sought foreign policy goal of the Obama administration. However, just like with the Greek deal celebrations, these too will likely be short lived as the outcome sets the White House on course for months of political strife with dissenters in Congress and in allied Middle Eastern nations.

The Last Days Of 'Normal Life' In America

The debt-fueled prosperity that so many of us take for granted is about to come to a screeching halt, and we are about to enter the hardest times that any of us have ever known.  And we are not just talking about economics either.  Based on all of the intel and information that we have gathered, we are about to enter a “perfect storm” that is going to shake this country in just about every possible way that it can be shaken.  So we hope that you will truly savor this summer – days like this will not come around again any time soon.

Donald Trump: A False Flag Candidate?

Trump has been playing the media with his supposed presidential ambitions for years, but it was clear then that it was just The Donald doing what he does best – promoting himself. And so the question jumps out at us: Why now? Although we have no concrete proof of the theory, there’s plenty of circumstantial evidence. His ties to the Clintons, his past pronouncements which are in such blatant contradiction to his current fulminations, and the cries of joy from the Clintonian gallery and the media (or do I repeat myself) all point to a single conclusion: the Trump campaign is a Democratic wrecking operation aimed straight at the GOP’s base. Donald Trump is a false-flag candidate.

David Einhorn Says Varoufakis "Must Not Be Familiar With The Tyler Durden School Of Negotiation"

"Mr. Varoufakis, who kept reminding everyone that he is a professor of game theory, believed that the European leaders would prefer to make concessions now rather than manage the disruption of a Greek default. He must not be familiar with the Tyler Durden school of negotiation: the first rule of using game theory is you do not talk about using game theory. What’s more obvious is that Syriza didn’t understand what the game is."

To Mexico And "Beyond": Flash Boys Get Warm Welcome In Emerging Markets

"Exchanges around the world are avidly wooing high-frequency traders, those controversial speed demons of Wall Street. Despite the often explosive debate over this kind of trading in the U.S., bourses in Mexico, Turkey, South Africa and beyond are trying to lure HFT types to boost business," Bloomberg reports.

Argentina As A Model For Greece

"I think that if Greece were to leave the Euro things would get very complicated for them... and this would create the same very unhealthy situation as we have in Argentina. Why? If people start storing value in a foreign currency, in this case Greeks using Euros, this will create a huge lack of transparency and affect normal trade flows and transactions. And we know that the parallel economy in Greece is already quite large the way it is. So imagine an exponential version of that. It would be a very difficult period for Greece."

Yanis Varoufakis: "Merkel's Control Over The Eurogroup Is Absolute, They Are Beyond The Law"

The new Greek deal is "absolutely impossible, totally non-viable and toxic …[they were] the kind of proposals you present to another side when you don’t want an agreement." Speaking with The New Statesman, former Greek FinMin Yanis Varoufakis blasts Wolfgang Schaeuble's position which will lead to "a humanitarian crisis" for Greece and warns, regarding this latest creditors' proposal, "if anything it will be worse [for the Greeks]." His conclusion is succinct, "we were set up...," Merkel and Schäuble’s control over the Eurogroup is absolute, and that the group itself is beyond the law.

'Greek' Finance In America: Pensions, Medicaid, & Entitlements Will Bankrupt State And Local Governments

If you can't print money or slash expenses, you have to borrow more money. That's the template not just for Greece, but for many state and local governments in the U.S who share key characteristics with Greece: they have soaring pension, Medicaid and employee healthcare obligations, but their tax revenues are either stagnant or prone to boom and bust cycles--and the current boom cycle is now entering the inevitable bust phase, when tax revenues plummet but the obligations just keep piling up. The template of over-indebtedness as a response to soaring obligations is scale-invariant, and it always ends the same way: default, more financial tricks to mask the default, and eventually, insolvency, bankruptcy and massive losses being distributed to everyone foolish enough to choose financial trickery over dealing with reality back when the pain would have been bearable.