Debunking Government’s Justification for Mass Surveillance
The chart below, showing the historical change in the IMF's periodic revisions of world growth and revised for today's just released latest World Economic Outlook, shows that much taxpayer money can be saved if the monetary fund's staff was replaced with dart-throwing chimps.
DHS Pretends It Still Has Privacy Officers ... When They've All Quit In Disgust
Just in case you thought the surreality of the US political debacle we are witnessing was too much, the NYPD releases a statement that stokes the fire of confusion. The New York Police Department is looking for two unidentified people who may (or may not) have parachuted on to a lower Manhattan Street. Private security guards reported seeing the skydivers land in front of the Goldman Sachs HQ at around 3am (which we could not help but note was the highs of the European session for Gold). The police noted it was unclear if they jumped from a plane or from a high-rise building (or from Bernanke's helicopter).
Breaking Bad With Big Bank CEOs: How Bad Bank CEOs Use the Bystander Effect to Dupe Good People Into Working For ThemSubmitted by smartknowledgeu on 09/30/2013 06:09 -0400
This may become the most important article I’ve ever written. But whether it becomes that article or dwells in anonymity is up to you, the reader.
Men have had their stab at making the world into what they wanted and they made a pretty poor show of it all we might say when we look at the economy.
Nowhere is China's historic misallocation of capital (resulting from a pace of credit creation that makes even the most fervent Keynesian western central banker green with envy) more evident and tangible, than in videos showing the tumbleweeds floating down the main streets of its ghost cities. We did that first in 2009, then followed up two years later only to find nothing has changed. Today, on yet another "two years later" anniversary, we go back to the scene of the excess capacity crime, to find out if thing may have finally normalized. For that we follow SBS' Adrian Brown who back in 2011 did an extensive report on what were some of the then unknown ghost cities dispersed across the mainland. What we find is that not only is the overcapacity problem nowhere close to being resolved, but that 20 new "ghost" cities are taking shape in this year alone.
Recent problems in Asia ex-Japan appear solvable. But the time for reform is now if the region's to take the next leap forward in its economic development.
A dozen years have passed. Memory doesn't fade. In some ways, the events remain as vivid today as they were that September morning.
Poll: More Americans Believe World Trade Center 7 Was Demolished On 9/11 than Believe the Government's ExplanationSubmitted by George Washington on 09/11/2013 01:32 -0400
What Do YOU Believe?
Whenever something bad happens – Iran moving closer to acquiring nuclear weapons, North Korea firing another missile, civilian deaths reaching another grim milestone in Syria’s civil war, satellites revealing an alarming rate of polar-ice melt – some official or observer will call upon the international community to act. There is only one problem: there is no “international community.” In short, those looking to the international community to deal with the world’s problems will be disappointed. This is not reason for despair or grounds for acting unilaterally. But so long as “international community” is more hope than reality, multilateralism will have to become more varied.
Subsistence farming never worked because being self-sufficient was firstly nigh-on impossible and secondly limited as well as being dependent on the climate.
Dispassionate view that Italy poses the biggest risk for the euro area and it will not wait for the German elections.
- SURPRISE - Goldman Sachs won a preliminary victory to limit losses from a wave of erroneous trades that roiled U.S. options markets (WSJ)
- HP’s Whitman abandons 2014 revenue growth target (FT) - just keep doing those buybacks and ignore CapEx: revenue growth estimated in 2022
- Republicans in Echo Before Big Burn Defy Affordable Care (BBG)
- China's banks to take next step in rate reform push (Reuters)
- Berlin’s Consistency on Greece’s Rescue (FT) and lack thereof
- Summers as Obama Voice of Authority Rides Car Rescue in Fed Race (BBG)
- Cuomo in Manure Fight as New York Promotes Yogurt (BBG)
- Yellen’s Ties From London to Shanghai Bypass White House (BBG)
- Sanctions Gap Allows China to Import Iranian Oil (WSJ)
The storm that caused chaos across financial markets since May should not dissipate any time soon. As such, we retain a short bias towards China and an outright short in EM currencies. If world trade remains weak and local inflation keeps on gaining momentum, the currencies of several EM countries (ex-China) may remain under pressure. Such weakness may be exacerbated by tightening liquidity.