The Warren Buffett Economy: How Central-Bank-Enabled Financialization Divided America

Needless to say, the above outlandish graph does not capture capitalism at work. Nor did the speculators who surfed upon this $45 trillion bubble harvest their monumental windfalls owing to investment genius. Instead, it is the perverted fruit of Bubble Finance, and there is no better illustration of this bubble surfer syndrome than the sainted Warren Buffett.

The Propaganda War With Putin

In what has become an old fashioned American pile-on, President Barack Obama, Hillary Clinton, the Democratic Party and what seems the entire political establishment as well as the MSM, have united to undermine Putin as if to prime the American public for war with Russia. A little hysteria wouldn’t hurt but most of all, a necessary requirement is to efficiently tutor the public consciousness to despise the adversary... War is, after all, more successful when the people have been thoroughly programmed.

An Update On The Obamacare Disaster

2017 is shaping up to be a very, very ugly year for Obamacare. A year in which it may become obvious to all that the entire thing is an unredeemable failure.

Iran Is Cheating On The Nuclear Deal, Now What?

One year into the nuclear deal, two credible and timely intelligence reports reveal that Iran has no intention of honoring the terms of the deal, which, anyway, it never signed. Germany's domestic intelligence agency revealed that the Iranian government has pursued a "clandestine" path to obtain illicit nuclear technology and equipment from German companies "at what is, even by international standards, a quantitatively high level." What has been President Obama's reaction to these crucial intelligence reports? Silence.

The End Of IMF Credibility (Or Why Christine Lagarde Should Be Fired... But Won't Be)

The IMF’s Independent Evaluation Office (IEO) issued a report a few days ago entitled ‘The IMF and the Crises in Greece, Ireland, and Portugal’. It is so damning for managing director Christine Lagarde and her closest associates, that it’s hard to see, certainly at first blush, how they could all keep their jobs. But don’t be surprised if that is exactly what will happen. Because organizations like the IMF don’t care much, if at all, about accountability. Their leaders think they are close to untouchable, at least as long as they have the ‘blessing’ of those whose interests they serve.

Monte Paschi Fails European "Stress Test" Meant To Restore Confidence In Europe's Struggling Banks

Moments ago, the European Banking Authority published the 2016 bank stress test results, whose purpose - as every other year -  is to inspire confidence in Europe's struggling banks; it differs from a market-based assessment of bank stress - that particular "test" can be seen by observing the stock prices of such giant banks as Deutsche Bank and Credit Suisse, both of which recently hit all time lows. As previewed yesterday, Italy's 3rd largest, and most insolvent bank, Banca Monte di Siena was the worst performer in European regulators’ stress tests, and the only lender to have its capital wiped out in the exam. 

Bridgewater Fires Back At NYTimes 'Sex Scandal' Story: Firm Is "Not For Everyone"

It seems the New York Times may have struck a nerve with its recent article on Bridgewater which exposed a sexual harrassment claim made by a former employee who described the fund as a “cauldron of fear and intimidation." While the letter generally attempts to discredit everything in the NYT article, we did find one point of agreement as Bridgewater pointed out that the firm is "not for everyone." 

Democrats Question "Loyalty To US" Of "Treasonous, Traitor" Trump

In a full court propaganda press, enabling by a liberal media that can read polling data as well as anyone else, the 'wild conspiracy theory' that Donald Trump coordinated with Putin to hack and expose DNC emails (that prove the level of rigging and collusion that is too much to bear for many democracy-seeking citizens) has now become confirmed fact... entirely lacking any actual facts. In a desperate bid to regain the narrative, as any convention bounce is erased for Hillary Clinton, her surrogates, as The Hill reports, have now stepped it up, calling Trump "treasonous" and a "traitor," questioning "his loyalty to America."

Bridgewater's Culture Of "Probing" - Sex Scandal Strikes World's Largest Hedge Fund

Employee files sexual harrassment complaint where Bridgewater is described as a  “cauldron of fear and intimidation" where employees are exposed to constant video surveillance and encounters with patrolling security guards that "silence" employees who do not fit the Bridgewater mold. In light of these new developments, we're left wondering which particular "values" Comey carried with him to the FBI and exactly how far he "spread" them within the organization.

G-20 Meeting Ends With Rising Discord Between China And US

While the G-20 group traditionally tries to put on a united front, a curious divergence emerged following the latest meeting in China, where as Bloomberg notes Chinese and U.S. officials "showed signs of being at odds on how synchronized efforts to boost global growth need to be, with China stressing the need for improved coordination more than the U.S."U.S. Treasury Secretary Jacob J. Lew on Thursday talked down the need for crisis-level coordination as he headed to Chengdu, China, for the meeting.

The Market For Lemons, The Market For Bullshit, And The Great Cascading Credence Crash Of 2016

The underlying problem is, I think, a very strange one. But it’s a risk faced by any society that both undergoes rapid technological change, and contains organized interest groups. (Formal or informal.) Something really bad is happening to all our bullshit. In fact, I’ve begun to worry that there’s actually a sort of crash or cascading failure going on in the bullshit market. If there is, I think it’s driven, as previous bullshit crashes were, by changing technology.

Sharia In Denmark

After the television documentary, "Sharia in Denmark", embarrassed Danish authorities by revealing how widespread the preaching of sharia is in mosques in Denmark; the Danish government, in May, concluded a political agreement about "initiatives directed against religious preachers who seek to undermine Danish laws and values and who support parallel legal systems."