Over the past year, special-operations forces have landed in 81 countries.
"I have no way of imagining what the United States will be like in your adulthood and yet I can sense that this country is changing in unsettling ways... Stretch anything far enough and it’ll begin to tear, fragment, break apart. That, I suspect, may be a reasonable summary of what’s been happening in our twenty-first-century world. Under stress, things are beginning to crack open... Though you don’t know it yet, you’re already living in an increasingly lopsided world whose stresses only seem to be multiplying. This has been true for the return of plutocracy...It certainly doesn’t look like the American world I’d want to turn over to you."
"Louisiana faces a $1.6 billion budget shortfall in the coming fiscal year, a result of both plunging oil-tax revenue and the state’s failure to enact adequate tax increases or spending cuts after the economic downturn in 2009. The latest plans would mean an 82 percent cut to the state’s public colleges and universities."
It is undoubtedly a huge red flag when in one of the countries considered to be a member of the “highest economic freedom in the world” club, commercial banks are suddenly refusing their customers access to their cash. This money doesn’t belong to the banks, and it doesn’t belong to the central bank either. If this can happen in prosperous Switzerland, based on some nebulous notion of the “collective good”, which its unelected central planners can arbitrarily determine and base decisions upon, it can probably happen anywhere. Consider yourself warned.
Goldman Gets Cold Feet:"It Is Difficult To Predict How Negative The Market Reaction To Grexit Would Be"Submitted by Tyler Durden on 04/26/2015 14:18 -0400
"We think that, at the 10-year tenor, the spread between Spanish and Italian bonds yield versus Bunds yield could still widen to around 350-400bp before a policy response is enacted. We stress that the departure of a country from the ‘irrevocable’ monetary arrangements of the EMU would take us into unchartered waters and it is difficult to predict how negative the market reaction could be."
It appears a breach of the White House’s unclassified computer system last year was far more intrusive and worrisome than has been publicly acknowledged. As The NY Times reports, some of President Obama’s email correspondence was swept up by Russian hackers who also got deeply into the State Department’s unclassified system. "This has been one of the most sophisticated actors we’ve seen," according to one official, and while Mr. Obama’s BlackBerry was not penetrated, officials have conceded that the unclassified system routinely contains much information that is considered highly sensitive.
Germany had lost the war, the Nazi industrialists agreed, but the struggle would continue along new lines. The Fourth Reich would be a financial, rather than a military imperium. The industrialists were to plan for a “postwar commercial campaign.” They should make “contacts and alliances” with foreign firms but ensure this was done without “attracting any suspicion.”... The State Department’s efforts on Schacht’s behalf worked. He was initially found guilty but was then acquitted, to the fury of the Soviet judge.
As the Greek negotiations with the eurogroup and the ‘institutions’ show us with intense and increasing clarity, the notion of the euro being a boat to lift all tides turns out to be full-on bogus. Southern Europe’s nations will be either thrown out or allowed to stay only as debt servants. For now, Germany and Holland prefer to keep everyone on board, but that may still change. It would therefore seem like a good idea for Greece and Italy to make their moves while they can. What Tsipras and Varoufakis must accomplish is to make people understand that what Europe does to the refugees, it will do to its own citizens too.
Following the default on major Chinese developer Kaisa this week, and with the continued softness in the Chinese property market, many are asking who's next among the highly-leveraged firms. However, as The Real Deal's Konrad Putzier notes, Kaisa’s default carries significance for New York’s real estate industry. Chinese investors spent $3 billion on New York properties in 2014. Many in New York continue to associate Chinese real estate companies with limitless funds and a never-ending ability to invest... But what if they are wrong?
Somewhere along the line, we lost the ability to distinguish between earning a profit and maximizing private gain by any means, i.e. Infinite Greed. All those angered by the mere question of the viability of this predatory pillaging in the name of capitalism are incapable of even admitting this cultural crisis exists.
"The global economy is awash as never before in commodities like oil, cotton and iron ore, but also with capital and labor—a glut that presents several challenges as policy makers struggle to stoke demand," WSJ notes, suggesting yet again that QE can cause deflation when those who have access to easy money overproduce but do not witness a comparable increase in demand from those to whom the direct benefits of ultra accommodative policies do not immediately accrue.
It would appear the era of the dollar's global domination as a reserve currency is coming to an end, and the stage is now being set for gold to be officially accepted as the ultimate reserve money once again, this time by the next generation of advanced nations.
Baltimore 'Freddie Gray' Demonstrations Turn Violent: Police Cars Smashed, Stores Looted, Multiple Arrests - Live FeedSubmitted by Tyler Durden on 04/25/2015 22:13 -0400