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"These Are Astonishing Figures, Evidence Of A 1930s-Style Depression"
Just a few numbers, courtesy of the Telegraph's Ambrose-Evans Pritchard:
Barnaby Martin, [Bank of America]'s European credit chief, said world asset markets may face a stress test as the US Federal Reserve starts to tighten afters year of largesse. “Our biggest worry is the end of the liquidity cycle. The Fed is done and it is preparing to raise rates. The reach for yield that we have seen since 2009 is going into reverse”, he said.
Mr Martin flagged warnings by William Dudley, the head of the New York Fed, that the US authorities had tightened too gently in 2004 and might do better to adopt the strategy of 1994 when they raised rates fast and hard, sending tremors through global bond markets.
Bank of America said quantitative easing in Europe and Japan will cover just 35pc of the global stimulus lost as the Fed pulls back, creating a treacherous hiatus for markets. It warned that the full effect of Fed tapering had yet to be felt. From now on the markets cannot expected to be rescued every time there is a squall. “The threshold for the Fed to return to QE will be high. This is why we believe we are entering a phase in which bad news will be bad news and volatility will likely rise,” it said.
What is clear is that the world has become addicted to central bank stimulus. Bank of America said 56pc of global GDP is currently supported by zero interest rates, and so are 83pc of the free-floating equities on global bourses. Half of all government bonds in the world yield less that 1pc. Roughly 1.4bn people are experiencing negative rates in one form or another.
These are astonishing figures, evidence of a 1930s-style depression, albeit one that is still contained. Nobody knows what will happen as the Fed tries break out of the stimulus trap, including Fed officials themselves.
Or, as we showed it recently and far more simply, this:
And in other news, everyone is now bullish because for some inexplicable reason the "experts" continue to mistake the world's biggest equity bubble with the underlying economy.
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Correct. We have not be "saved from a depression", but rather, the Fed has done a fine job of simply hiding it (and enriching the 1% 400-fold in the process).
"Success" in the modern, progressive, world of finance.
Fed has done a fine job of simply hiding it
EBTs have been a good crutch......but they can only do so much.
The Fed did the same thing in the 1930's with the monetary base. Keep the rich top 0.01% awash in cash and impoverish the peasants.
MB/GDP on FRED for those interested.
Graph: Gross Domestic Product/St. Louis Adjusted Monetary Base
http://research.stlouisfed.org/fred2/graph/?g=9wK
The site does allow for swapping the numerator and denominator to produce the inverse of this chart (i.e. MB/GDP). It is alarming.
We de-stimulized some folks.
Thanks for the suggestion, economics9698, and thanks for the link John Law Lives. Eye opening, indeed.
(I sometimes wonder what the Fed does with the analytics generated by the searches and graphs people run off the FRED database. There must be a paper somewhere.)
economic rectal feeding
Could someone kindly elaborate on the significance of the chart given by John Law? I'm a little confused as to it's meaning.
"When I use a chart,' Humpty Dumpty said in rather a scornful tone, 'it means just what I choose it to mean — neither more nor less."
OT: But yeah.....Republicans fully fund Zerocare and Amnesty.
http://www.cnsnews.com/news/article/terence-p-jeffrey/gop-cuts-spending-...
Well of course.
It wouldn't be FASCISM if only one party participated.
The graph shows the horrifying extent of the fed's money printing. In 1981, GDP was over 22 times the monetary base, now it is 5. Said differently the currency emitted is backed up by 1/4 the productive capacity of the country currently than was the case in 1981. Or how much overstated the GDP is in relation to bullshit CPI statistics.
I think it's even worse than the graph shows becuase of understated price inflation resulting in nonsense GDP "growth" that never really occurred.
I like John's explanation above.
To put it layman’s terms the Fed knows exactly what it is doing, it has done it before. The Fed understands the gravity of the situation and the importance of keeping the rich in cash, and to keep widening the distance of the rich and the rest of us. This ensures regime support from the people who count and will allow the privileged to buy assets for pennies on the dollar when the crash does come.
In the past hard economic times and exploitation by the government and Federal Reserve were forgotten because of WWII.
One of four paths, austerity, not happening, inflation, we already have, it will get worse, bankruptcy, the best choice, not happening with this regime, war.
War is the preferred outcome for the sociopaths because it diverts almost 100% of the public’s attention away from the source of the exploitation. The rich ... really do not care who wins the war. If the USA lost they would pack up and move to a new host nation. Money and power over millions of preasants is job #1.
Does 'creating a treacherous hiatus for markets' mean that public companies might have to do things (such as produce something of value or turn a non-adjusted profit) to justify their high valuations?
The horror!
Dead Banker #37? London ‘banker’ impaled after falling from penthouse
Conspiracy Fact: UN reports confirm Israel aiding ‘rebels’, Al-Qaeda groups fighting in Syria
It's all coming along nicely now...
“Ruled as unsuspicious”
Cus this happens all the time!
JLL and Economics, thanks for making a relevant comment and link. Learned something new today.
Wallstreet can now pull the carpet out from under nations feet at it's leisure.
As long as people believe in their fiat. When the fiat dies the ropes come out.
I have a question, with a long intro, so please be patient. Remember that companies have been using secured loans from banksters to buy back their shares?
http://www.zerohedge.com/news/2014-07-08/stock-buyback-shocker-companies...
And that companies are compounding this by using most of their profits to also buy their own shares?
http://www.zerohedge.com/news/2014-10-06/why-stocks-just-wont-drop-compa...
And this is all still going on?
http://www.zerohedge.com/news/2014-12-08/q3-buybacks-surging-these-are-t...
WHO IS SELLING THEM ALL THIS STOCK? (ABOUT 1 TRILLION WORTH OVER THE LAST THREE YEARS)
WHAT IF WALL STREET IS LENDING THEM THE MONEY TO BUY BACK THEIR STOCK,....AND SELLING THEM THE STOCK TOO? WHAT WOULD BE THE MOST LIKELY OUTCOME?
OK, I'll take a shot at this, since it's something I've pondered recently.
The companies are buying their own stock back from investors. They could be hedge funds, the Fed, mutual funds, mom and pop, banks (they hold lots of shares, and I think that is your point). The problem I see coming is that these companies have to pay back what they borrowed, and, if they aren't wildly profitable, they will have to begin selling the very stock they bought.
I've always thought stock buybacks were bad decisions, and connotes a failure of management to utilize capital in it's most effective manner.
Since these companies have been buying their own stocks at near all-time highs, once they begin to panic, and start selling the stock they bought at $80, for $70, or worse, it will spread and crimp earnings in a very big way.
In other words, the only way stock buybacks are any good is if your stock keeps rising. If your stock falls, yo look like an idiot and have endangered the existence of the company.
That's the way I see it, and why I eventually see a major market crash as the only possible outcome from all the free money and wild speculation of the past six years.
"If your stock falls, yo look like an idiot and have endangered the existence of the company." ---
Correct and in a functioning market you would lose your job and wealth to pay back the creditors.
You would then join the ranks of the unemployed, at least until you proved yourself again (which a truly smart person would).
Remember, "no risk no reward" right?
this is also why we now have so many idiots in powerful positions.
Since we transitioned to Nerf Capitalism everyone has fun but nobody gets hurt.
pods
"Nerf Capitalism" -- Copyright this immediately!!!!!
"nobody gets hurt"
:) - depends on what nobody means!
Nobody=the 99%.
pods
Tightening my arse.
Anyone who thinks rates are rising is smoking something Falling rates are a 30+ year trend -- and it is happening for a reason: to finance the growth of the Entitlement State. And the Entitement State is GROWING, not shrinking. Therefore, I expect rates to continue to fall and go negative. Because raping savers is the only way the Entitlement State can keep afloat at this point.
So things will continue to distort. Capitalism as we know it is toast. It was probably toast inn 1997 when the big bailouts started.
That's pretty much how I see this too, and the reason why the stock market keeps climbing, and why fundamentals no longer matter. It's no longer about mom & pop investors, but about the illusion "investing" in the stock market. The banks/companies can't afford a loss because it will most likely bankrupt them due to leveraged bets, and the government is almost certainly complicit (along with their media puppets) in keeping the plebes in the dark.
Of course they borrow at zero % and buy their stock back, thinking they would stop is like asking a lion to turn vegetarian. They can't and they won't and it's not really their fault. The fault lies with the people running the currency.
It would be interesting to see the correlation between buybacks and insider selling and buybacks and major shareholders. All of this information is available after the fact but someone would have to do the grunt work of collecting the data from a site such as nasdaq.com and running the correlations.
Just damn! I do believe you are on their trail.
Isn't that the GM/GMAC model...or to be more precise, the US retail model?
Here is what I think is happening. Companies buy back stock through cheap money bonds or profits. Banks sell stocks that they have in these corporations and buy bonds knowing that when stocks eventually get hammered they can just print FED money to buy stocks. If companies go bankrupt bond holders get first dibs on assets. Eventually banks own everything, or should I say THE BANK owns everything. What the FED has done is allow bubbles to form knowing this. Its a win, win for the people that own the currency. There is no risk at all.
I would tend to agree with you here. The bailed-out TBTexist banksters had insider information on when QE would kick in, and they bought distressed shares at the bottom in 2008-2009, and have been conniving to get companies to buy this stock back from them now that prices have recovered. When they have distributed (sold short) all the shares they can they will simply stop lending to the companies (higher interest rates would accomplish this in a most ingenious way), and crash the market. Many of these companies will then be owned by the banksters, who will only have to figure out how to avoid jail time (duh, bribes), or an angry populace (somewhat more delicate and risky, but offering up lower-level scapegoats is a time-tested option).
Where the hell is Matt Tiabi or that Flash Boys guy on this latest round of fraud?
DP
It's like Weimar. They either engineer situations where the banking mafia get to own *everything* or their behavior inevitably leads to economic busts and in the process of making sure they get bailed out every time - through bribing TPTB - they have money when everyone else is selling at fire sale prices so it ends up the same way.
Who's selling? Pensions and every other retirement fund that has to liquidate in order to meet obligations.
Interesting that you mention pensions. Just saw on the news they've reached a deal to essentially "gut" pensions in order to keep the government running--multi state. Obviously not gutting any govt critter pensions. So now someone with 33 years and a 3k pension will have to deal with the new reality of seeing their promised benefits reduced.
Your promised job--reduced. Your promised pension--reduced. Your savings--reduced. Your home value--reduced. Your gas prices--reduced. Food stamps--reduced (well, maybe on that one --will take some time to get through) Unemployment reduced (done).
Deflation is rearing its ugly effects slowly but surely.
If it's all going down I think they'd want to steal all the pension money first before they crash house prices (and buy them all at rock bottom prices) as they can steal the pension money by stealth.
The answer in part is this is just taken out of the liquidity of the market. Appl buying 40Billion in stock sounds like a lot, but its 5% of the float no big deal.
What happens is the price rises, EPS rise, etc...
What will be interesting is when any of the companies who have bought the stock have to sell it to raise cash.... IBM is likely first in this bucket.
Its not so much the EBT, more like the DJIA and S&P debt fueled bubble which has helped fuel this faux unemployment.
Corporate debt has never been bigger; its even bigger than govt debt, and we don't even know how deep the rabbit hole goes because of shadow accounting.
Therefore, we have a bunch of newly created low-wage jobs with no sense of security. And eventually, the bubble pops.
Since Japan is the model, it might take some time. Like 10 years. But there will be serious blips; oil is one. Q4 in 2015 will be another, IMO.
Japan has a much more cohesive society though so that might effect the time scale.
Hide, Extended, and Worsened.
the best slave is the slave that doesn't know he's a slave
Like the slow boiled frog.
And when they find out they are gonna be PISSED! I guess that is why they are working so hard to get the guns away from the "slaves".
Those of us who've taken the red pill (woken up to reality), need to keep working on the underground railroad to free the other slaves.
and to get the various different ethnic groups fighting each other
Done since the Roman times, Bread and circus economy, steal all you can then throw bread to the few who would upset the apple cart to keep them quiet, such things as ebt cards and such. Never has a level playing field been such state sponsored propaganda.
Or "let them eat cake" in historical parlance
1n 2008 when the public stopped spending the Fed took over and started spending on behalf of the public. While this delayed the collapse in effect all it has done is make the hole the conomy is falling into deeper and this will make the crash harder when it occurs. That most economists could not see this inevitable train wreck coming is shocking.
They can't raise rates.
Oh they sure can
But they won't collect any.
We can always commit suicide later.....let's not go there.
Absolutely they can.
Newsflash: The markets could set the rates just fine.
Gas prices have fallen and risen and fallen again rather dramatically. Guess what? We never ran out of fuel. Things rebalanced themselves accordingly.
The Fed's sstting rates helps to protect the losers and their malinvestments during the last bubble.
The Fed's sstting rates helps to protect the losers and their malinvestments during the last bubble.
100% correct, and as long as the banks own the Fed, rates will stay low to benefit the banksters and their .01% cronies.
Yep. precisely why rates will not rise.
Bullshit. Raise rates then and stop jawboning already.
In addition, where's my billion dollar loan at 0.25%?
moral hazard is a real bitch.
"They can't raise rates."
So they won't, with a deflationary debt collapse to follow, then a helicopter drop — no, a fleet of these: https://c2.staticflickr.com/4/3378/3489301967_eb20954cd1.jpg — that makes QE look like child's play, and voila . . .
http://lh5.ggpht.com/_hVOW2U7K4-M/S2Z1C5BbjaI/AAAAAAABPcA/rmewKg-jluU/s7...
"They can't raise rates."
Damn. U beat me to it.
They are getting to or at the point now where they are damned if they do and damned if they don't. If they want to destroy the dollar they will continue on this current path. I don't think that is the choice the Fed will choose. So get ready for another big economic downturn in the economy and as ekm1 has been saying triple Lehman.
If they transfer enough toxic mortgage debt from the banks to the public for the banks to survive raising the rates then they'll crank the rates high, crash house prices and then buy the whole lot up at fire sale prices.
Weimar 2.0 (except this time with added diversity so people will be too busy fighting each other to notice them slipping away to Shanghai with their loot).
As I've been saying over and over and over.
De-dollarization in process automatically leads to a 1930s world of de-globalization in process, hence depression due to less world trade.
This depression is a gift from bank lobby. Only Pentagon in alliance with Saudi Arabia can solve the problem, and they will.
Bullshit. American will get the shaft along with the U.N. and N.A.T.O.
It was good while it lasted, the demographics of the world are what they are.
Tell us what bank you work for already.
mechanical engineer
US empire has a long way to go. Pentagon junta coming up again, same as in the 60s and 70s
Then stop spouting such garbage. You know damn well that that which cannot be sustained, won't be.
The Fed will keep increasing their balance sheet until the dollar and all dollar-denominated assets (including debt) blows up.
Again, the demographics of the earth is what it is.
Too late!
And the M.E. above should know PV = nRT and YOU CAN'T PUSH A STRING! (unless it's frozen)
(unless it's frozen)
Hold on.....I have an idea.
Oh dear. Everybody have their fire extinguishers ready?
I know TEPCO is building one already, but how about another giant ICE WALL!
@LawPhys:
Stop worrying about the dollar. Everybody else is in even worse shape. When Italy, France, Japan and the UK "go Greece" and recover -- then, and only then, is the dollar in trouble.
The dollar and US markets are still the flight to quality, in relative terms which is all that matters.
That's Chem E., not M.E.
E=MC^2 is where this is heading.
No, he was right. A large portion of a real ME curriculum is fluid dynamics and heat transfer.
correct -and per plan - which is to blow up the dollar and impose the new global currency/global totalitariasm/fascism
All he's saying is there is a lot more that can be done on the military side of the balance sheet to hold off the end, not that the end won't come.
Edit: Read more of his posts. My bad.
ekm, banksters/tankers are one and the same......your premise is incorrect
No they are not and it is not a premise. It is reality.
They have never been the same.
Military always looks for lobbies to hire in order to manage the booty they bring in. That is world history, from Rome to British empire to USA.
one does not exist without the other............
"It is reality."
That one statement sums up every single down-vote you get on this site. You're so absolutely sure your opinion is reality that you cannot help but to be wrong, as you blind yourself to any and all alternatives.
For an engineer, you sure have a lot of trouble with logic. Especially given the false constraints you place upon it.
You seem to miss the fact that central banks "infinite checkbooks" are a far more powerful weapon than any held by the military.
You don't understand how non-commodity money is created. Just by typing up on computers.
Military no longer needs bank lobby. They will hire new clerks to type up on computers creating money.
Oil lobby will manage the economy again now, not bank lobby
EKM,
Why doe focus on banksters vs pentagoons? Are they not Janus?
I mean, what difference does it matter who you get raped and pillaged by?
The Pentagoons are no better than the banksters. Just look at Irak war mongering, or the recent revelations on CIA torture. Do you prefer the NSA?
So basically I am asking why so much focus on the Pentagoons if it is all the same?
Not the same because bankers have nothing. They only have computers to type up numbers on. Anybody can do that.
ekm, military is now the enforcement arm of the banks.
Way back when a military would plunder a conquered people. That was when specie made the world go round. Now they conquer and bring in pallets of FRNs.
New paradigm.
pods
The paradigm never changed.
Any oligarch needs to pay military for loyalty.
It will never change, particularly now that money is created by typing up on computers.
No need for bank lobby.
No need for bank lobby?
Who do you think creates the money?
Banks and government are married.
Government prints IOU, FED deposits it and gives FRNs, government pays military.
You could be correct in your insinuation (banks versus MIC) if either of these two situations existed:
1. Currency was specie. (It's not)
2. Government issues currency (It doesn't)
pods
no special skills needed to type up numbers on computers.
Bank lobby is not needed
You're right there's never been any *need* for the banking mafia at all. It's all a scam. The key point though is belief. You'd need a) the MIC to understand that the banking mafia are destroying America and b) that they understand what a scam it all is and how Wall St. and the Fed and unecessary parasites.
I think the first is quite possible but the second takes the average person years to get your head around and so I wonder if there's time.
ekm1, yesterday when i was trying not to watch the CIA casino, it occured to me that perhaps you may be right, and that obama and the bankers are trying to throw the military under the bus, and distance themselves in the mind's of the voters that they had nothing to do with any of the evil. even though obviously every administration since roosevelt has been completely linked.
They take (or "borrow" or "safekeep") the gold too.
Do engineering students still have to take English classes in college?
Yes.
Yes, with an emfasis on mispeling common words.
George P. Burdell says rite on...
We'll all get the shaft. The only parameters yet to be decided are how long and how hard a shaft.
If the UN gets the shaft, at least we got something out of it.
hes right about de-dollarization, just wrong thinking that there is a plan to reverse it. SA and Pentagon will NOT be saving this.
thre is NO messiah, no invisible man in the sky, no one riding in on a white horse tosave any one.
us is toast, thats the plan, that will be the plan, that is the result
Say he's wrong. Say he's dead-ass wrong. But do the thought exercise anyway. Let's pretend that Saudi Arabia gets the Pentagon going and they stir up a little action that -- by happenstance -- leads to increased demand for oil and reduced supply. (And I can think of a few very easy ways this could occur.)
First, consider whether there are any parties that would like to see this happen. As a matter of fact there are many. Next, consider the possible outcomes and the likely winners and losers.
I'm not saying this will occur. But it's nonsense to apply a 0% probability.
PS - Why so little commentary about Israel making a run into Syria last weekend? Who is really pulling the strings in the ME?
Israel/SA benefit directly from an unstable Syria. Plenty of Jihadis travel from all over the world to go die in Syria, and Israel/SA don't have to really lift a finger. All the work is beeing done by both the Assad regime and whomever is fighting against the Assad regime. Israel/SA can cheer for both sides and maintain status quo.
If Israel/SA/Gulf States fund ISIS, then they have some amount of influence over the Jihadis. Whoever provides the least funding gets the most blowback in the form of terrorist attacks. Buts this only lasts as long as ISIS is dependent on external material/cash flow.
For ISIS to attack Iran right now would be pretty stupid...even for a goat/boy-violating jihadi. While fundamentalist Sunnis hate Shi'ites with a passion, I'd wager that they aren't willing to commit their resources to attacking Iran until they can effectively control their own boundaries/resources yet.
Uh, bud. The US military has thrown in the towel. Saudi's are about to be on their own.
ISIS bearing down on their ass right now.
Saudis can destroy isis in one week by bombing indiscriminately, unlike US air force which cannot bomb on children.
Isis is attacking Iran's border right now making Khamenei shit in his pants and sending air force to bomb isis inside iraq.
Nobody will stop isis as long as they do that
If you haven't jumped the shark already, that was it right there.
It wasn't Fonz jumping the shark that was the problem, it was the nutters he was wearing. Only Magnum could pull off wearing nutters.
Speaking of Fonz, Merry Christmas to you and yours if you are still knocking around!
pods
USAF can't (or won't) bomb children (indiscriminately)?
What are you smoking? There's a small mountain of evidence, both historic and recent, that says otherwise.
unlike US air force which cannot bomb on children
Uh....WHAT?!?!?!
Go home, ekm...you're drunk.
Short history lesson: World War II revived the economy of the USA. After the war, much of Europe and Japan's manufacturing base was destroyed while the USA still had all their factories. That powered tremendous growth in the USA for a long time. Now we have over capacity all around the world and lots of countries have nukes. Not so easy to have a world war now.
Also, if the FED raises rates, they kill what is left of the economy. They are trapped.
WW2 saved us. Keep repeating it until we WANT WW3. For the children and the economy.
"Now we have over capacity all around the world and lots of countries have nukes. Not so easy to have a world war now." - MadMax
Excellent point, MadMax. General Kevin P. Chilton, the head of the US Strategic Command from 2007 to 2011, reportedly stated in 2010 that, “Throughout the 65-year history of nuclear weapons, no nuclear power has been conquered or even put at risk of conquest.”
Waging a world war these days... might not prove too stimulative to the economy.
Also, if the FED raises rates, they kill what is left of the economy.
They kill what is left of the serfs' economy. Their economy, where they inflate asset prices and then get a tap on the shoulder so they can get out early before it collapses, convert to cash, and buy everything back at pennies on the dollar, will always exist.
The US military has not thrown in the towel.
In fact, militaries across the planet will be the final step towards economic recovery.
First, they will demand lots of materials to prepare for war.
Then they will destroy much of the infrastructure that is not needed.
Then that infrastructure will need to be rebuilt.
We need destruction of excess resources as well.
That will stop this deflation monster in it's tracks.
What better way to stop the deflating oil prices than to take Saudi Arabia off the market entirely?
Your scenario can only happen if the calories are available for all that destruction and rebuild.
Unfortunately, they are not.
The first to use tactical nukes effectively will be the "victor", in so much as there is a victory to be had..
The key is to have wars that don't involve nuclear powers opposing each other actively. As long as we can pull off Iraqs/Syrias/Ukraines there is hope for change!
Krugman, is that you?
Saudi Arabia's decision to keep pumping is actually a huge F**-U to the United States. No one says this, but it's the damn truth.
No. It is done in coordination with pentagon to harm iran and russia
don't forget Venezuela
Perhaps...
But it also could be possible that SA is acting on behalf of the USA to punish Russia, Iran, Venezuela... The financial carnage in the oil patch is merely a side effect (and perhaps a useful one if the majors want to acquire independents at an attractive price).
On the other hand, if this really is a f*** you from SA to the USA, SA is hurting its own immediate interest (if their budget break-even is ~$90/bbl and actual production cost is ~$30/bbl) in an effort to maintain market share (thus future price control) as their fields deplete...
Why do this now if the pain also falls on themselves in both the short term (increased budget pressure) and long term (greater depletion at a lower price) when they could simply cut production to maintain higher prices?
Surely they realize shale oil's production profile is not a long term threat... The tar sands? Or are they defending their petro-dollar reserves (not to mention the petro-dollar itself) from a Russian-Chinese energy alliance denominated in rubles and yuan by attempting to break the Russian economy in concert with US and EU sanctions?
Perhaps any of those. Perhaps SA is preparing to switch sides (for China?) or any of a series of strategies. China sure seems to be benefitting. Not sure who else really is (short term).
Again, perhaps...
But just consider the fate of other nations attempting to break away from the petro-dollar... Iraq and Libya both immediately spring to mind.
Russia, however, is no push over and has nuclear weapons. I doubt the Russian-Chinese oil and gas deal was reached in the few short weeks after the US and EU decided to implement sanctions -- this was a long planned deal in the works (and of course the US knew about it). Ukraine is merely a pretext, but while US/EU sanctions alone had a relatively small effect, it did accelerate the deal's consummation (China most likely got some concessions).
Since oil prices have dropped, however, the ruble (and thus the Russian economy) has begun a serious downward spiral. So much so that Putin recently called for the repatriation of (ill-gotten) rubles (~125B) from overseas with promises of complete amnesty.
Point is, the US strategic imperative, the neocon version at least, is to dominate Russia financially (and therefore politically) and control China via domination of its energy supplies while maintaining the petro-dollar's reserve currency status. The Russian-Chinese energy deal threatens that imperative and it would be best to "solve" this problem before Russia is able to implement further de-dollarization measures (esp. an alternative international payments system).
But US bankers and politicians are not suicidal -- direct military confrontation with Russia is not desirable. Thus the USA's minions, the EU and SA were called in to do our dirty work -- financial and economic warfare -- even if it goes against their best interests...
spanky, cleanly thought through with a ring of quite possibly.
The Saudis are working with the neocons in the US stste dept. The neocons in the state dept. don't care about the US.
In the world of Central Bankers equity markets are the economy - the economy of deception and perception of the common man. "If stawks are high, shit must be goin' right in this here world."
expand expand expand -> BOOM! CONTRACT!
P < P + I
It's like feeling sorry for an alcoholic. In the end you have to realize they did it to themselves and they are the only ones who can get themselves out.....or not.
Alcoholics are locked in a brewery.
that's sure suicide
And Farva can't drink himself out of the vat of beer
Chicken fucker!
"It's like feeling sorry for an alcoholic. In the end you have to realize they did it to themselves..."
true - but alcoholics take down a lot of the folks nearby in the process...it's not about NOT feeling sorry, it's about detaching from the stuff/people that can hurt you.
Only Pentagon in alliance with Saudi Arabia can solve the problem, and they will.
Now that is a frightening prediction!!!
Only Pentagon in alliance with Saudi Arabia can solve the problem, and they will.
The Pentagon crew may TRY to solve the problem but they'll only make it worse for everyone.
And it will all be done while prominently waving the US flag in everyone's face.....
No Shit Sherlock...
Seriously...NSS....we've been here since 2000, Sherlock...
oooh, look, history rhymes, oh wait, it's being made to rhyme, poor banks, they tighten, they loosen, they tighten, they loosen, just like the anal sphincters they are...
Ease loan standards, tighten loan standards, more sphincter behaviour...
Another dust bowl coming, they should probably be putting nets on all those wall street high rises right about now...
Such a farce....
The idea is that if it doesn't look like a depression, then there isn't a depression.
Just like if we don't talk about Ebola or report on it. Then nobody has Ebola.
I'm sure if you ignore the giant cancerous growth, then you don't have cancer.
Can we call it the green bag economy?
Boy the economic numbers are ugly.
No problem, just green bag it and concentrate on the shower of freshly printed bills. Now you can go to town and enjoy yourself.
You mean like we have hidden the soup lines behind the EBT cards and the homeless behiind Section 8 housing?
Hidden in plain sight.
Somehow, the facts of Bldg.#7 have eluded the majority of the population, while hidden in plain sight.
We astonished some folks.
Pretty amazing that nobody has stopped the theft.
you didn't steal that, it takes a village
It takes a pillage.
Why would you ever go and stop something? Or even go and try talking people into stopping something? In this day and age you're supposed to ask your government wirte a law to stop it. That's how problems are solved.
WE GREATEST-DEPRESSIONED SOME FOLKS
Looks pretty much the same as Madoff fund's chart.
lmao .. theres a serial junker in the house...
GDP growth matters for corporates.
It is obviously extractive of real purchasing power.
GDP in Ireland is shooting up while wages ( the mechanism to access purchasing power for most) continues to crash.
The instability is a result of the 101 policies of wealth concentration by so called generalised financial capital.
GDP growth does NOT matter for corporates.
Profit growth matters.
Double the GDP growth and halve the profit growth and you are no better off today than you were a year ago.
Activity / GDP growth is the act of chasing after scarce money in the modern market state economy.
How does pointless hamster wheel activity benefit the person.
Its simply capitalism going through its final absurd ( but deadly) stages of wealth concentration.
"Investment "post Tudor times is simply about concentrating wealth claims.
It has nothing to do with wealth really.
Within the national capitalistic monopoly you appeared to be doing better but that could only be achieved via a externalization of costs via war and colonisation.
The mask has been lifted during these strange market state times and it sure Ain't a pretty picture.
Please, when an increasing amount of your "GDP" is simply paper pushing, you can manipulate the shit out of your GDP by simply creating more paper claims out of thin air and pushing them around.
GDP is fucking meaningless.
Hookers and blow.
Its nothttp://hilobrow.com/2014/08/06/king-goshawk-32/
GDP is not meaningless , it is however pointless ( for most)