With year-end target after year-end target having been met and raised by the oh-so-ethical sell-side strategists and asset-gatherers, it appears the Fed's grand plan of dragging every bit of cash into the increasingly more risky equity markets is working. After a rally driven more by financial engineering that real sustainable growth, Bloomberg reports, individual investors are plowing money back into the U.S. stock market just as professional strategists say gains for this year are over. As one senior equity manager warned, "if Wall Street, after poring over all known data, comes up with a target and we’re already there, and you still see individual investors buying and they’re typically the ones that are late to the party, it would seem there is limited upside," but that didn't stop about $100 billion being added to equity mutual funds and exchange-traded funds in the past year, 10 times more than the previous 12 months. We have found this cycle's greater fool and once again it is the retail investor.
In Hillary Clinton's attempt to seem "one of the people", she made the public relations debacle of portraying herself as "dead broke" at the time she and Bill Clinton left the White House. Of course, the reason this attempt at populist pandering backfired is because as is well-known, even the least educated American, the bulk of wealth American president families accrue is not while in office but after, when they hit the speaking/book publishing circuit. This is just what WaPo found when it conducted a review of the Clintons’ federal financial disclosure: it found that Bill was paid $104.9 million for delivering 542 speeches around the world between January 2001 and January 2013, when Hillary left her job as secretary of state.
What US Veterans Say About The Iraq Fiasco: "When I Left In 2009, I Said In 5 Years There'll Be A Civil War"Submitted by Tyler Durden on 06/16/2014 14:55 -0400
With Iraq having succumbed to sectarian violence worse than anything observed in recent history, which accordint to many was merely exacerbated by US neocon ambitions to feed the ravenous military industrial complex, one can easily discard the opinion of all those on both sides of the argument - first those who said a US intervention was critical, as well as those who demanded a pull out. In fact, the only person who has preserved any credibility, and has not been "surprised" by the recent developments - is the man who said to never get involved in the first place - Ron Paul. But what about those who were tasked with implementing US foreign policy, flawed as it may have been: America's veteran troops.
The “war on compassion” when it comes to the homeless in America continues. There are many reasons we find this topic to be of such tremendous importance. First and foremost, we think that if we want to see how the state and crony corporate status quo will treat everyone in the future, all you have to do is look at how the homeless are being “dealt with.” Secondly, random groups feeding the homeless in various venues is a great example of decentralized compassion. Political power hates decentralization and is quite intentionally trying to corral the homeless into the centralized bureaucratic channels over which it has total control. So this isn’t merely a humanitarian issue, it is also a front line battle in the key war of our time: Decentralization vs. Centralization.
just who is America's police force, and by extension the Obama administration, which is behind this quiet militarization of local police forces with weapons that would normally be seen in a warzone, preparing for war against?
It is a well known historical trend that as discontent and dissent spread within a society, the power structure will look to demonize unpopular or weak minorities in order to deflect frustrations away from the true culprit, the power structure itself. If we want to see how the state and crony corporate status quo will treat everyone in the future, all you have to do is look at the current “war on the homeless.”
With the advent of unions in the USA in the 19th century, they were once synonymous with downing tools and walking out to hold the management and the company they were working for to ransom. Collective bargaining and across-the-board pay rises were high on the agenda back then.
Who could have seen this coming? USA Today reports deputies have charged an 18-year-old South Carolina woman with the fatal shooting of a male friend who had donned a bulletproof vest and allegedly asked her to "shoot me."
One of the most consistent debates emanating out of Washington in the past 6 years has been that dealing with income tax. Whether high, low, "fair" or "unfair", said discussions, however, focus solely on tax paid at the Federal level, and largely ignore that "other" key tax: state. Which is surprising, considering some states such as California demand a total contribution amounting to a third of the highest marginal Federal tax bracket, which could make some wonder if those bracing sea breezes are really worth it. But what about the other states? Here is the full breakdown of the states with the top income tax rates, those with the lowest, and all the states inbetween.
There is now a systemic two-tier justice system operating in these United States, and the result will unquestionably be tyranny if the trend continues unabated. The latest example of a lowly citizen being subject to a disproportionate use of the law, is Jon Daniel of Peoria, Illinois. Jon was behind a parody Twitter account that mocked Peoria mayor Jim Ardis, and his biggest mistake was not making it clear that it was a parody. As a result, Twitter had already suspended the account weeks ago. Problem solved, right? Wrong. The tough guy mayor was so offended that a plebe would dare criticize his royal highness that he ordered a police raid on the home of Jon Daniel and his roommates.
There is no question about it, NYC feels more like “Disneyland for Wall Street” than ever before. The very rich are doing very well, everyone else, not so much. We are often told by charlatans and mainstream media propagandists that this mythical rising tide of wealth lifts all boats. If that’s the case, we find it quite perplexing that the homeless population in America’s financial center is exploding five years into the so-called recovery (homeless people are living in coffin-sized spaces inside the frame of the Manhattan Bridge). Meanwhile, let’s not forget that 22% of the city is on food stamps. How is this possible? Because we have witnessed five years of egregious corruption and crony capitalist theft, not a genuine recovery. That’s how.
Civil rights are often lost in societies by politicians scapegoating unpopular minorities. This happened with jews, gypsies, etc in Nazi Germany and we must be very careful the same does not happen here. One human being should be able to voluntarily give food to another in all cases, without exception. The concept of a permit needed that costs $120 per week is fascist, anti-human and downright evil. Gandhi famously noted that: The greatness of a society and its moral progress can be judged by the way it treats its animals.
Here comes the latest one - Pax. Weather.com's description of what is about to be unleashed on Atlanta and the entire Eastern Seaboard is nothing short of a review of the movie The Day After Tomorrow: "Potentially "catastrophic" Winter Storm Pax began unfolding before dawn Wednesday in the Atlanta area as temperatures dropped below freezing and sleet and freezing rain began to fall." The National Weather Service's warning was not exactly cheery: "Let’s just start by saying this winter storm may be of historic proportions for the area,” the agency said in a forecast analysis. “We’re looking at significant snowfall totals north and significant, crippling ice totals, especially along the Interstate 20 corridor.” Eli Jacks, a meteorologist with National Weather Service, said forecasters use words such as "catastrophic" sparingly. Not in this case. "Sometimes we want to tell them, 'Hey, listen, this warning is different. This is really extremely dangerous, and it doesn't happen very often,'" Jacks said. The service's memo early Wednesday called the storm "an event of historical proportions." It continues: "Catastrophic ... crippling ... paralyzing ... choose your adjective."
Reality will reassert itself in 2014, with lemmings, flippers, and hedgies getting slaughtered as the housing market comes back to earth with a thud. The continued tapering by the Fed will remove the marginal dollars used by Wall Street to fund this housing Ponzi. The Wall Street lemmings all follow the same MBA created financial models. They will all attempt to exit the market simultaneously when their models all say sell. If the economy improves, interest rates will rise and kill the housing market. If the economy tanks, the stock market will plunge, creating fear and killing the housing market. Once it becomes clear that prices have begun to fall, the flippers will panic and start dumping, exacerbating the price declines. This scenario never grows old.