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Wikileaks Exposes Secret Deal To Get Saudi Arabia On UN Human Rights Council

Two years after the controversial appointment of Saudi Arabia to the U.N. Human Rights Council, leaked diplomatic cables have revealed the U.K. was a key player in the election of the Gulf State - despite the Saudis’ appalling human rights record. What is surprising is the next chapter in the farcical saga...

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Confession Of An Economist: Writing To Impress Rather Than Inform

If you have ever felt that in addition to being a quasi cargo cult (which in the case of central planners borders on religious dogma) rather than an actual science, not to mention far more destructive, economics was purposefully obtuse and opaque, meant to sound sophisticated and generally "baffle with bullshit" when in reality it was hollow, often contradictory and sometimes meaningless by design, then the following confession by David Hakes, professor of economics at the University of Northern Iowa is for you. In it the economist explains how he was turned down when he wrote articles that could easily be understood by a broad audience. So he made them more difficult to understand and got published immediately.

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New Data Reveals U.S. Far From Freest Country In The World

While the U.S. has never had a truly free economy, the new study makes it evident that Americans have far less economic freedom and opportunity than they did in the year 2000. Now that economic conditions are even worse in the U.S. than they were before, a culture of extreme economic control has taken over and exacerbated the growing recession - one that history may end up redesignating a depression.

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Frontrunning: September 15

  • China stocks resume sharp slide as economic worries mount (Reuters)
  • OECD head says sees further cut to global growth forecasts (Reuters)
  • The U.S. Dollar Is Gaining Like It's the 1980s — For Better or Worse (BBG)
  • Glencore Slumps to Record Low, Erasing Gains Since Debt Plan (BBG)
  • Woman killed, 400 homes destroyed by California wildfire (Reuters)
  • Why Morning Is the Worst Time to Trade Stocks (WSJ)
  • German Investor Confidence Damped by Weaker Emerging Markets (BBG)
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Geopolitical Risk, Significant Chinese Demand Supporting Gold

Fostering dependence on irresponsible banks and a still very vulnerable banking sector will make the entire western financial and economic system even more vulnerable.

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Competing Gas Pipelines Are Fueling The Syrian War & Migrant Crisis

Don’t let anyone fool you: As we have detailed since 2013, sectarian strife in Syria has been engineered to provide cover for a war for access to oil and gas, and the power and money that come along with it.

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The Concept Of Money And The Money Illusion

Awareness about the concept of money is making a comeback. Gone are the decades in which the global citizenry was fooled to leave this subject to economists, governments and banks – a setup that has proven to end in disaster. The crisis in 2008 has spawned debate about what money is, where it comes from and where it should come from.

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Italy Is "Willing To Temporarily Suspend Schengen" In Response To Refugee Crisis

Europe's refugee crisis just took a dramatic turn for the worse, and strikes at the very hear of Europe's Shengen customs union which has allowed borderless travel within Europe for decades. As Bloomberg reports, the Italian Province of Bolzano in Northern Italy said in a statement that it agreed with the Italian government on request by German Federal State of Bavaria by "communicating a willingness to restore border controls at Brenner and temporarily suspend the Schengen agreement."

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US Falls Behind Canada, Finland, And Hong Kong In Human Freedom Index

The United States lags far behind other developed countries in terms of personal, civil and economic freedoms, according to a study released this month. Its neighbor to the north, for example, ranked 14 spots ahead of the so-called “Land of the Free.”

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Frontrunning: August 24

  • Deutsche Bank Says Rout ‘Very Serious’ as Growth Outlook Dims (BBG)
  • Great fall of China sinks world stocks, dollar tumbles (Reuters)
  • Global Stocks Fall Sharply Amid Concerns About the Chinese Economy (WSJ)
  • Stock Rout Spreads Through Europe After China Plunge (BBG)
  • China stocks give up year's gains as 'national team' stays on bench (Reuters)
  • The Fed Is Looking at a Very Different Dollar Than Wall Street (BBG)
  • French train gunman 'dumbfounded' by terrorist tag (Reuters)
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Cop Tries To Cook Meth At Government Science Lab, Blows Up Building

Back on July 18, Christopher Bartley (a police lieutenant for the National Institutes of Standards and Technology), tried to refill a butane lighter. Or he tried to cook a batch of meth...

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July Was Warmest Month On Record NOAA Reports, Lists All "Signifiicant Climate Anomalies And Events"

While some, perhaps not California farmers, will disagree with NOAA's assessment of the world's atmospheric conditions, earlier today the National Oceanic and Atmospheric Administration declared that July was the warmest month ever recorded for the globe and was also the record warmest for global oceans, putting a full stop to a year that has been characterized by numerous perplexing atmospheric outliers around the globe but perhaps none other more so than NOAA's earlier assessment that the winter of 2015 was also the warmest on record despite the much discussed US winter, where for the second year in a row the economic slowdown was blamed on a colder than usual winter. Go figure: perhaps here too we need double seasonal adjustments.

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FOMC Minutes Leaked Early After Embargo Broken, Fed Warns Risk To GDP Forecast "Tilted To The Downside"

Seconds ago, someone accidentally (we hope) pulled a Janet Yellen as the following just came across the wires


But the bottom line is that the Fed just admitted things are going from bad to worse: "The risks to the forecast for real GDP and inflation were seen as tilted to the downside." The question now is what comes first: QE4 or the first rate hike in nearly a decade.

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